# EDGAR Filing Document

**Accession Number:** 0001160864
**File Stem:** 0001410368-25-032171
**Filing Date:** 2025-11
**Character Count:** 1044839
**Document Hash:** ae8b0737f13b6a8db356e7c62df24183
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001410368-25-032171.hdr.sgml**: 20251126

**ACCESSION NUMBER**: 0001410368-25-032171

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250930

**FILED AS OF DATE**: 20251126

**DATE AS OF CHANGE**: 20251126

**PERIOD START**: 20251231

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** BLACKROCK CORE BOND TRUST
- **CENTRAL INDEX KEY:** 0001160864

**ORGANIZATION NAME:**
- **EIN:** 522346891
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1031

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-10543
- **FILM NUMBER:** 251525901

**BUSINESS ADDRESS:**
- **STREET 1:** 100 BELLEVUE PARKWAY
- **STREET 2:** MUTUAL FUND DEPARTMENT
- **CITY:** WILMINGTON
- **STATE:** DE
- **ZIP:** 19809
- **BUSINESS PHONE:** 888-825-2257

**MAIL ADDRESS:**
- **STREET 1:** 100 BELLEVUE PARKWAY
- **STREET 2:** MUTUAL FUND DEPARTMENT
- **CITY:** WILMINGTON
- **STATE:** DE
- **ZIP:** 19809

## Nport-Ex

September 30, 2025

2025 Quarterly Report <br>&nbsp;&nbsp;&nbsp;&nbsp;(Unaudited)<br>

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

**BlackRock Core Bond Trust (BHK)**<br>

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

**Not FDIC Insured • May Lose Value • No Bank Guarantee**<br>

------

Schedule of Investments (unaudited)

September 30, 2025

**BlackRock Core Bond Trust (BHK)** 

**(Percentages shown are based on Net Assets)**

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

---

| | | | |
|:---|:---|:---|:---|
| *Security* |  | *Par* <br>*(000)*<br>| *Value* |
| **Asset-Backed Securities** | **Asset-Backed Securities** | **Asset-Backed Securities** | **Asset-Backed Securities** |
| &nbsp;&nbsp;&nbsp; 522 Funding CLO Ltd., Series 2017-1A, Class CR, (3-<br> mo. CME Term SOFR + 2.41%), 6.74%, <br> 10/20/34<sup>(a)(b)</sup><br>| USD | 500 | &nbsp;&nbsp; $500742 |
| &nbsp;&nbsp;&nbsp; AIMCO CLO Ltd., Series 2018-BA, Class CRR, (3-mo. <br> CME Term SOFR + 2.40%), 6.72%, 04/16/37<sup>(a)(b)</sup><br>|  | 650 | &nbsp;&nbsp; 654707 |
| Apidos CLO XVIII-R<sup>(a)(b)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2018-18A, Class A1R2, (3-mo. CME Term <br> SOFR + 1.33%), 5.66%, 01/22/38<br>|  | 1295 | &nbsp;&nbsp; 1300351 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2018-18A, Class BR2, (3-mo. CME Term <br> SOFR + 1.70%), 6.03%, 01/22/38<br>|  | 777 | &nbsp;&nbsp; 780908 |
| &nbsp;&nbsp;&nbsp; Apidos CLO XXIV, Series 2016-24A, Class A1AL, (3-mo. <br> CME Term SOFR + 1.21%), 5.54%, 10/20/30<sup>(a)(b)</sup><br>|  | 218 | &nbsp;&nbsp; 217959 |
| &nbsp;&nbsp;&nbsp; Bain Capital Credit CLO Ltd., Series 2021-3A, Class D, <br> (3-mo. CME Term SOFR + 3.36%), 7.68%, <br> 07/24/34<sup>(a)(b)</sup><br>|  | 250 | &nbsp;&nbsp; 249062 |
| &nbsp;&nbsp;&nbsp; Ballyrock CLO Ltd., Series 2024-28A, Class A2, (3-mo. <br> CME Term SOFR + 1.70%), 6.03%, 01/20/38<sup>(a)(b)</sup><br>|  | 500 | &nbsp;&nbsp; 501750 |
| Birch Grove CLO Ltd.<sup>(a)(b)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2021-3A, Class D1R, (3-mo. CME Term SOFR <br> + 2.85%), 7.18%, 01/19/38<br>|  | 250 | &nbsp;&nbsp; 252755 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2023-6A, Class A1R, (3-mo. CME Term SOFR <br> + 1.38%), 5.75%, 07/20/37<br>|  | 1500 | &nbsp;&nbsp; 1505287 |
| &nbsp;&nbsp;&nbsp; Bryant Park Funding Ltd., Series 2024-22A, Class C, <br> (3-mo. CME Term SOFR + 2.60%), 6.92%, <br> 04/15/37<sup>(a)(b)</sup><br>|  | 1200 | &nbsp;&nbsp; 1208668 |
| &nbsp;&nbsp;&nbsp; Buckhorn Park CLO Ltd., Series 2019-1A, Class ARR, <br> (3-mo. CME Term SOFR + 1.07%), 5.40%, <br> 07/18/34<sup>(a)(b)</sup><br>|  | 2500 | &nbsp;&nbsp; 2501251 |
| Canyon Capital CLO Ltd.<sup>(a)(b)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2016-1A, Class CR, (3-mo. CME Term SOFR <br> + 2.16%), 6.48%, 07/15/31<br>|  | 250 | &nbsp;&nbsp; 250484 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2021-2A, Class D, (3-mo. CME Term SOFR + <br> 3.61%), 7.93%, 04/15/34<br>|  | 500 | &nbsp;&nbsp; 501437 |
| &nbsp;&nbsp;&nbsp; CarVal CLO II Ltd., Series 2019-1A, Class AR2, (3-mo. <br> CME Term SOFR + 1.02%), 5.35%, 04/20/32<sup>(a)(b)</sup><br>|  | 384 | &nbsp;&nbsp; 384577 |
| &nbsp;&nbsp;&nbsp; CarVal CLO VC Ltd., Series 2021-2A, Class D, (3-mo. <br> CME Term SOFR + 3.51%), 7.83%, 10/15/34<sup>(a)(b)</sup><br>|  | 250 | &nbsp;&nbsp; 250765 |
| &nbsp;&nbsp;&nbsp; Cedar Funding XIV CLO Ltd., Series 2021-14A, <br> Class B1R, (3-mo. CME Term SOFR + 1.70%), <br> 6.02%, 10/15/37<sup>(a)(b)</sup><br>|  | 500 | &nbsp;&nbsp; 501405 |
| &nbsp;&nbsp;&nbsp; Cedar Funding XV CLO Ltd., Series 2022-15A, Class B, <br> (3-mo. CME Term SOFR + 1.80%), 6.13%, <br> 04/20/35<sup>(a)(b)</sup><br>|  | 400 | &nbsp;&nbsp; 401088 |
| CIFC Funding Ltd.<sup>(a)(b)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2017-1A, Class CRR, (3-mo. CME Term <br> SOFR + 2.45%), 6.78%, 04/21/37<br>|  | 1000 | &nbsp;&nbsp; 1007068 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2018-1A, Class A1R, (3-mo. CME Term SOFR <br> + 1.32%), 5.59%, 01/18/38<br>|  | 1036 | &nbsp;&nbsp; 1039108 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2018-1A, Class BR, (3-mo. CME Term SOFR <br> + 1.70%), 5.97%, 01/18/38<br>|  | 1295 | &nbsp;&nbsp; 1300361 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2019-1A, Class D1R2, (3-mo. CME Term <br> SOFR + 3.05%), 7.38%, 10/20/37<br>|  | 500 | &nbsp;&nbsp; 504234 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2020-1A, Class DR, (3-mo. CME Term SOFR <br> + 3.36%), 7.68%, 07/15/36<br>|  | 500 | &nbsp;&nbsp; 501390 |
| &nbsp;&nbsp;&nbsp; Compass Datacenters Issuer III LLC, Series 2025-3A, <br> Class A2, 5.29%, 07/25/50<sup>(b)</sup><br>|  | 520 | &nbsp;&nbsp; 525823 |
| &nbsp;&nbsp;&nbsp; Concord Music Royalties LLC, Series 2024-1A, Class A, <br> 5.64%, 10/20/74<sup>(b)</sup><br>|  | 164 | &nbsp;&nbsp; 165235 |
| &nbsp;&nbsp;&nbsp; CWHEQ Revolving Home Equity Loan Trust, <br> Series 2006-I, Class 1A, (1-mo. Term SOFR + <br> 0.25%), 4.40%, 01/15/37<sup>(a)</sup><br>|  | 680 | &nbsp;&nbsp; 654622 |

---

---

| | | | |
|:---|:---|:---|:---|
| *Security* |  | *Par*<br> *(000)*<br>| *Value* |
| **Asset-Backed Securities (continued)** | **Asset-Backed Securities (continued)** | **Asset-Backed Securities (continued)** | **Asset-Backed Securities (continued)** |
| &nbsp;&nbsp;&nbsp; Dewolf Park CLO Ltd., Series 2017-1A, Class DR, (3-<br> mo. CME Term SOFR + 3.11%), 7.43%, <br> 10/15/30<sup>(a)(b)</sup><br>| USD | 280 | &nbsp;&nbsp; $279779 |
| &nbsp;&nbsp;&nbsp; Dryden CLO Ltd., Series 2018-64A, Class D, (3-mo. <br> CME Term SOFR + 2.91%), 7.24%, 04/18/31<sup>(a)(b)</sup><br>|  | 1250 | &nbsp;&nbsp; 1259288 |
| &nbsp;&nbsp;&nbsp; Dryden Senior Loan Fund, Series 2015-37A, Class AR, <br> (3-mo. CME Term SOFR + 1.36%), 5.68%, <br> 01/15/31<sup>(a)(b)</sup><br>|  | 77 | &nbsp;&nbsp; 77621 |
| &nbsp;&nbsp;&nbsp; Eaton Vance CLO Ltd., Series 2015-1A, Class A2R, <br> (3-mo. CME Term SOFR + 1.51%), 5.84%, <br> 01/20/30<sup>(a)(b)</sup><br>|  | 1000 | &nbsp;&nbsp; 1000402 |
| &nbsp;&nbsp;&nbsp; EDvestinU Private Education Loan Issue No. 3 LLC, <br> Series 2021-A, Class B, 3.50%, 11/25/50<sup>(b)</sup><br>|  | 110 | &nbsp;&nbsp; 93546 |
| &nbsp;&nbsp;&nbsp; Elmwood CLO 21 Ltd., Series 2022-8A, Class CR, (3-<br> mo. CME Term SOFR + 2.70%), 7.03%, <br> 10/20/36<sup>(a)(b)</sup><br>|  | 500 | &nbsp;&nbsp; 501139 |
| &nbsp;&nbsp;&nbsp; Elmwood CLO 26 Ltd., Series 2026-1A, Class C, (3-mo. <br> CME Term SOFR + 2.40%), 6.67%, 04/18/37<sup>(a)(b)</sup><br>|  | 1300 | &nbsp;&nbsp; 1309490 |
| &nbsp;&nbsp;&nbsp; Elmwood CLO VI Ltd., Series 2020-3A, Class BRR, <br> (3-mo. CME Term SOFR + 1.70%), 6.03%, <br> 07/18/37<sup>(a)(b)</sup><br>|  | 250 | &nbsp;&nbsp; 250833 |
| &nbsp;&nbsp;&nbsp; GoldenTree Loan Management U.S. CLO Ltd., <br> Series 2021-11A, Class AR, (3-mo. CME Term SOFR <br> + 1.08%), 5.41%, 10/20/34<sup>(a)(b)</sup><br>|  | 470 | &nbsp;&nbsp; 470377 |
| GreenSky Home Improvement Issuer Trust<sup>(b)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp; Series 2024-2, Class C, 5.55%, 10/27/59 |  | 100 | &nbsp;&nbsp; 101008 |
| &nbsp;&nbsp;&nbsp; Series 2025-2A, Class A4, 4.89%, 06/25/60 |  | 252 | &nbsp;&nbsp; 253236 |
| &nbsp;&nbsp;&nbsp; Huntington Bank Auto Credit-Linked Notes, <br> Series 2024-2, Class B1, 5.44%, 10/20/32<sup>(b)</sup><br>|  | 548 | &nbsp;&nbsp; 553818 |
| &nbsp;&nbsp;&nbsp; Lendmark Funding Trust, Series 2025-2A, Class C, <br> 5.28%, 10/20/34<sup>(b)</sup><br>|  | 1000 | &nbsp;&nbsp; 1009253 |
| &nbsp;&nbsp;&nbsp; Long Beach Mortgage Loan Trust, Series 2006-8, <br> Class 2A4, (1-mo. Term SOFR + 0.59%), 4.75%, <br> 09/25/36<sup>(a)</sup><br>|  | 5746 | &nbsp;&nbsp; 1469313 |
| &nbsp;&nbsp;&nbsp; Lyra Music Assets Delaware LP, Series 2025-1A, <br> Class A2, 5.60%, 09/20/65<sup>(b)</sup><br>|  | 221 | &nbsp;&nbsp; 223490 |
| &nbsp;&nbsp;&nbsp; Madison Park Funding LIX Ltd., Series 2021-59A, <br> Class A1R, (3-mo. CME Term SOFR + 1.50%), <br> 5.83%, 04/18/37<sup>(a)(b)</sup><br>|  | 1300 | &nbsp;&nbsp; 1306901 |
| &nbsp;&nbsp;&nbsp; Madison Park Funding XLVIII Ltd., Series 2021-48A, <br> Class E, (3-mo. CME Term SOFR + 6.51%), 10.84%, <br> 04/19/33<sup>(a)(b)</sup><br>|  | 500 | &nbsp;&nbsp; 500857 |
| Madison Park Funding XXIII Ltd.<sup>(a)(b)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2017-23A, Class AR, (3-mo. CME Term SOFR <br> + 1.23%), 5.55%, 07/27/31<br>|  | 542 | &nbsp;&nbsp; 543669 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2017-23A, Class CR, (3-mo. CME Term SOFR <br> + 2.26%), 6.58%, 07/27/31<br>|  | 600 | &nbsp;&nbsp; 601139 |
| &nbsp;&nbsp;&nbsp; Madison Park Funding XXXVII Ltd., Series 2019-37A, <br> Class BR2, (3-mo. CME Term SOFR + 1.95%), <br> 6.27%, 04/15/37<sup>(a)(b)</sup><br>|  | 1000 | &nbsp;&nbsp; 1004660 |
| &nbsp;&nbsp;&nbsp; Madison Park Funding XXXVIII Ltd., Series 2021-38A, <br> Class C, (3-mo. CME Term SOFR + 2.16%), 6.44%, <br> 07/17/34<sup>(a)(b)</sup><br>|  | 250 | &nbsp;&nbsp; 250351 |
| &nbsp;&nbsp;&nbsp; Marble Point CLO XXIII Ltd., Series 2021-4A, Class D1, <br> (3-mo. CME Term SOFR + 3.91%), 8.24%, <br> 01/22/35<sup>(a)(b)</sup><br>|  | 250 | &nbsp;&nbsp; 250531 |
| Navient Private Education Refi Loan Trust<sup>(b)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp; Series 2019-D, Class A2A, 3.01%, 12/15/59 |  | 332 | &nbsp;&nbsp; 323395 |
| &nbsp;&nbsp;&nbsp; Series 2019-GA, Class A, 2.40%, 10/15/68 |  | 102 | &nbsp;&nbsp; 98863 |
| &nbsp;&nbsp;&nbsp; Series 2021-CA, Class A, 1.06%, 10/15/69 |  | 559 | &nbsp;&nbsp; 509687 |
| &nbsp;&nbsp;&nbsp; Series 2021-DA, Class C, 3.48%, 04/15/60 |  | 392 | &nbsp;&nbsp; 367050 |

---

------

Schedule of Investments (unaudited)(continued)

September 30, 2025

**BlackRock Core Bond Trust (BHK)** 

**(Percentages shown are based on Net Assets)**

---

| | | | |
|:---|:---|:---|:---|
| *Security* |  | *Par*<br> *(000)*<br>| *Value* |
| **Asset-Backed Securities (continued)** | **Asset-Backed Securities (continued)** | **Asset-Backed Securities (continued)** | **Asset-Backed Securities (continued)** |
| Navient Private Education Refi Loan Trust<sup>(b)</sup> (continued) |  |  |  |
| &nbsp;&nbsp;&nbsp; Series 2021-EA, Class A, 0.97%, 12/16/69 | USD | 678 | &nbsp;&nbsp; $611376 |
| &nbsp;&nbsp;&nbsp; Series 2023-A, Class A, 5.51%, 10/15/71 |  | 122 | &nbsp;&nbsp; 124695 |
| Nelnet Student Loan Trust<sup>(b)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp; Series 2021-A, Class D, 4.93%, 04/20/62 |  | 460 | &nbsp;&nbsp; 418421 |
| &nbsp;&nbsp;&nbsp; Series 2021-BA, Class B, 2.68%, 04/20/62 |  | 1983 | &nbsp;&nbsp; 1771128 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2021-CA, Class AFL, (1-mo. Term SOFR + <br> 0.85%), 4.99%, 04/20/62<sup>(a)</sup><br>|  | 239 | &nbsp;&nbsp; 238744 |
| &nbsp;&nbsp;&nbsp; Series 2025-BA, Class D, 6.04%, 05/17/55 |  | 549 | &nbsp;&nbsp; 552840 |
| Neuberger Berman Loan Advisers CLO Ltd.<sup>(a)(b)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2019-31A, Class AR2, (3-mo. CME Term <br> SOFR + 1.23%), 5.56%, 01/20/39<br>|  | 1615 | &nbsp;&nbsp; 1618362 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2019-34A, Class BR2, (3-mo. CME Term <br> SOFR + 1.65%), 5.98%, 07/20/39<br>|  | 530 | &nbsp;&nbsp; 530371 |
| OCP CLO Ltd.<sup>(a)(b)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2017-13A, Class AR2, (3-mo. CME Term <br> SOFR + 1.34%), 5.67%, 11/26/37<br>|  | 1000 | &nbsp;&nbsp; 1002999 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2024-38A, Class A, (3-mo. CME Term SOFR + <br> 1.33%), 5.66%, 01/21/38<br>|  | 1000 | &nbsp;&nbsp; 1003018 |
| &nbsp;&nbsp;&nbsp; Octagon 54 Ltd., Series 2021-1A, Class D, (3-mo. CME <br> Term SOFR + 3.31%), 7.63%, 07/15/34<sup>(a)(b)</sup><br>|  | 250 | &nbsp;&nbsp; 249983 |
| &nbsp;&nbsp;&nbsp; Octagon Investment Partners XVII Ltd., Series 2013-1A, <br> Class BR2, (3-mo. CME Term SOFR + 1.66%), <br> 5.98%, 01/25/31<sup>(a)(b)</sup><br>|  | 500 | &nbsp;&nbsp; 500900 |
| &nbsp;&nbsp;&nbsp; Octagon Investment Partners XXII Ltd., Series 2014-1A, <br> Class DRR, (3-mo. CME Term SOFR + 3.01%), <br> 7.34%, 01/22/30<sup>(a)(b)</sup><br>|  | 500 | &nbsp;&nbsp; 500887 |
| &nbsp;&nbsp;&nbsp; OHA Credit Funding Ltd., Series 2022-12RA, Class C, <br> (3-mo. CME Term SOFR + 1.80%), 6.13%, <br> 07/20/37<sup>(a)(b)</sup><br>|  | 1250 | &nbsp;&nbsp; 1252489 |
| &nbsp;&nbsp;&nbsp; OneMain Direct Auto Receivables Trust, Series 2025-<br> 1A, Class D, 6.10%, 07/14/37<sup>(b)</sup><br>|  | 533 | &nbsp;&nbsp; 542927 |
| &nbsp;&nbsp;&nbsp; OZLM XXI Ltd., Series 2017-21A, Class C, (3-mo. CME <br> Term SOFR + 2.93%), 7.26%, 01/20/31<sup>(a)(b)</sup><br>|  | 1000 | &nbsp;&nbsp; 1001314 |
| Palmer Square CLO Ltd.<sup>(a)(b)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2020-3ARR, Class A1R2, (3-mo. CME Term <br> SOFR + 1.65%), 5.86%, 11/15/36<br>|  | 250 | &nbsp;&nbsp; 250446 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2020-3ARR, Class A2R2, (3-mo. CME Term <br> SOFR + 2.30%), 6.51%, 11/15/36<br>|  | 250 | &nbsp;&nbsp; 251118 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2024-4A, Class B, (3-mo. CME Term SOFR + <br> 1.65%), 5.97%, 01/15/38<br>|  | 920 | &nbsp;&nbsp; 924821 |
| Point Broadband Funding LLC<sup>(b)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp; Series 2025-1A, Class A2, 5.34%, 07/20/55 |  | 1000 | &nbsp;&nbsp; 1009017 |
| &nbsp;&nbsp;&nbsp; Series 2025-1A, Class C, 8.16%, 07/20/55 |  | 750 | &nbsp;&nbsp; 766781 |
| &nbsp;&nbsp;&nbsp; Prodigy Finance DAC, Series 2021-1A, Class C, (1-mo. <br> Term SOFR + 3.86%), 8.02%, 07/25/51<sup>(a)(b)</sup><br>|  | 43 | &nbsp;&nbsp; 43561 |
| &nbsp;&nbsp;&nbsp; Regatta 30 Funding Ltd., Series 2024-4A, Class B, (3-<br> mo. CME Term SOFR + 1.65%), 5.97%, <br> 01/25/38<sup>(a)(b)</sup><br>|  | 1700 | &nbsp;&nbsp; 1704471 |
| &nbsp;&nbsp;&nbsp; Regatta XVIII Funding Ltd., Series 2021-1A, Class BR, <br> (3-mo. CME Term SOFR + 1.55%), 5.87%, <br> 04/15/38<sup>(a)(b)</sup><br>|  | 850 | &nbsp;&nbsp; 851828 |
| &nbsp;&nbsp;&nbsp; Rockford Tower CLO Ltd., Series 2021-3A, Class A1R, <br> (3-mo. CME Term SOFR + 1.40%), 5.72%, <br> 01/15/38<sup>(a)(b)</sup><br>|  | 1709 | &nbsp;&nbsp; 1716630 |
| &nbsp;&nbsp;&nbsp; Romark CLO Ltd., Series 2017-1A, Class B, (3-mo. <br> CME Term SOFR + 2.41%), 6.73%, 10/23/30<sup>(a)(b)</sup><br>|  | 500 | &nbsp;&nbsp; 501078 |
| &nbsp;&nbsp;&nbsp; Sandstone Peak II Ltd., Series 2023-1A, Class A1R, <br> (3-mo. CME Term SOFR + 1.41%), 5.74%, <br> 07/20/38<sup>(a)(b)</sup><br>|  | 1000 | &nbsp;&nbsp; 1004501 |

---

---

| | | | |
|:---|:---|:---|:---|
| *Security* |  | *Par*<br> *(000)*<br>| *Value* |
| **Asset-Backed Securities (continued)** | **Asset-Backed Securities (continued)** | **Asset-Backed Securities (continued)** | **Asset-Backed Securities (continued)** |
| &nbsp;&nbsp;&nbsp; Sesac Finance LLC, Series 2025-1, Class A2, 5.50%, <br> 07/25/55<sup>(b)</sup><br>| USD | 345 | &nbsp;&nbsp; $343632 |
| SMB Private Education Loan Trust<sup>(b)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp; Series 2019-A, Class A2A, 3.44%, 07/15/36 |  | 539 | &nbsp;&nbsp; 533534 |
| &nbsp;&nbsp;&nbsp; Series 2019-B, Class A2A, 2.84%, 06/15/37 |  | 126 | &nbsp;&nbsp; 123221 |
| &nbsp;&nbsp;&nbsp; Series 2021-A, Class A2B, 1.59%, 01/15/53 |  | 255 | &nbsp;&nbsp; 235870 |
| &nbsp;&nbsp;&nbsp; Series 2021-A, Class B, 2.31%, 01/15/53 |  | 131 | &nbsp;&nbsp; 128321 |
| &nbsp;&nbsp;&nbsp; Series 2021-C, Class C, 3.00%, 01/15/53 |  | 108 | &nbsp;&nbsp; 94508 |
| &nbsp;&nbsp;&nbsp; Series 2021-C, Class D, 3.93%, 01/15/53 |  | 53 | &nbsp;&nbsp; 47838 |
| &nbsp;&nbsp;&nbsp; Series 2021-D, Class A1A, 1.34%, 03/17/53 |  | 717 | &nbsp;&nbsp; 675374 |
| &nbsp;&nbsp;&nbsp; Series 2022-C, Class A1A, 4.48%, 05/16/50 |  | 245 | &nbsp;&nbsp; 243964 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2023-B, Class A1B, (30-day Avg SOFR + <br> 1.80%), 6.17%, 10/16/56<sup>(a)</sup><br>|  | 163 | &nbsp;&nbsp; 166187 |
| &nbsp;&nbsp;&nbsp; Series 2023-C, Class A1A, 5.67%, 11/15/52 |  | 1125 | &nbsp;&nbsp; 1155598 |
| Sterling COOFS Trust<sup>(b)(c)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp; Series 2004-1, Class A, 2.36%, 04/15/29 |  | 700 | &nbsp;&nbsp; — |
| &nbsp;&nbsp;&nbsp; Series 2004-2, Class Note, 2.08%, 03/30/30 |  | 264 | &nbsp;&nbsp; — |
| &nbsp;&nbsp;&nbsp; Structured Asset Securities Corp. Pass-Through <br> Certificates, Series 2002-AL1, Class A2, 3.45%, <br> 02/25/32<br>|  | 10 | &nbsp;&nbsp; 8349 |
| &nbsp;&nbsp;&nbsp; Subway Funding LLC, Series 2024-1A, Class A2I, <br> 6.03%, 07/30/54<sup>(b)</sup><br>|  | 293 | &nbsp;&nbsp; 296830 |
| &nbsp;&nbsp;&nbsp; TCI-Symphony CLO Ltd., Series 2017-1A, Class AR, <br> (3-mo. CME Term SOFR + 1.19%), 5.51%, <br> 07/15/30<sup>(a)(b)</sup><br>|  | 184 | &nbsp;&nbsp; 183754 |
| Trestles CLO Ltd.<sup>(a)(b)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2017-1A, Class CRR, (3-mo. CME Term <br> SOFR + 2.10%), 6.42%, 07/25/37<br>|  | 1750 | &nbsp;&nbsp; 1758687 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2017-1A, Class D1RR, (3-mo. CME Term <br> SOFR + 3.15%), 7.47%, 07/25/37<br>|  | 250 | &nbsp;&nbsp; 252249 |
| Trimaran CAVU Ltd.<sup>(a)(b)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2021-2A, Class D1, (3-mo. CME Term SOFR + <br> 3.51%), 7.83%, 10/25/34<br>|  | 500 | &nbsp;&nbsp; 502302 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2023-1, Class E, (3-mo. CME Term SOFR + <br> 8.94%), 13.27%, 07/20/36<br>|  | 500 | &nbsp;&nbsp; 501626 |
| &nbsp;&nbsp;&nbsp; Unique Pub Finance Co. PLC, Series 02, Class N, <br> 6.46%, 03/30/32<sup>(d)</sup><br>| GBP | 12 | &nbsp;&nbsp; 16277 |
| &nbsp;&nbsp;&nbsp; Upgrade Master Pass-Thru Trust, Series 2025-ST4, <br> Class A, 5.50%, 08/16/32<sup>(b)</sup><br>| USD | 187 | &nbsp;&nbsp; 188281 |
| &nbsp;&nbsp;&nbsp; UPX HIL Issuer Trust, Series 2025-1, Class A, 5.16%, <br> 01/25/47<sup>(b)</sup><br>|  | 337 | &nbsp;&nbsp; 338010 |
| Voya CLO Ltd.<sup>(a)(b)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2017-2A, Class A2AR, (3-mo. CME Term <br> SOFR + 1.91%), 6.23%, 06/07/30<br>|  | 250 | &nbsp;&nbsp; 250367 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2018-2A, Class A2, (3-mo. CME Term SOFR + <br> 1.51%), 5.83%, 07/15/31<br>|  | 1000 | &nbsp;&nbsp; 1000475 |
| &nbsp;&nbsp;&nbsp; Warwick Capital CLO Ltd., Series 2024-5A, Class A1, <br> (3-mo. CME Term SOFR + 1.36%), 5.69%, <br> 01/20/38<sup>(a)(b)</sup><br>|  | 750 | &nbsp;&nbsp; 752566 |
| &nbsp;&nbsp;&nbsp; Whetstone Park CLO Ltd., Series 2021-1A, Class B1, <br> (3-mo. CME Term SOFR + 1.86%), 6.19%, <br> 01/20/35<sup>(a)(b)</sup><br>|  | 725 | &nbsp;&nbsp; 725812 |
| &nbsp;&nbsp;&nbsp; Whitebox CLO I Ltd., Series 2019-1A, Class D1RR, <br> (3-mo. CME Term SOFR + 3.10%), 7.42%, <br> 07/24/36<sup>(a)(b)</sup><br>|  | 500 | &nbsp;&nbsp; 501315 |
| &nbsp;&nbsp;&nbsp; Whitebox CLO II Ltd., Series 2020-2A, Class D1R2, <br> (3-mo. CME Term SOFR + 2.90%), 7.22%, <br> 10/24/37<sup>(a)(b)</sup><br>|  | 500 | &nbsp;&nbsp; 504080 |

---

Schedule of Investments

------

Schedule of Investments (unaudited)(continued)

September 30, 2025

**BlackRock Core Bond Trust (BHK)** 

**(Percentages shown are based on Net Assets)**

---

| | | | |
|:---|:---|:---|:---|
| *Security* |  | *Par*<br> *(000)*<br>| *Value* |
| **Asset-Backed Securities (continued)** | **Asset-Backed Securities (continued)** | **Asset-Backed Securities (continued)** | **Asset-Backed Securities (continued)** |
| Whitebox CLO III Ltd.<sup>(a)(b)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2021-3A, Class DR, (3-mo. CME Term SOFR <br> + 2.85%), 7.17%, 10/15/35<br>| USD | 250 | &nbsp;&nbsp; $252004 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2021-3A, Class ER, (3-mo. CME Term SOFR <br> + 5.65%), 9.97%, 10/15/35<br>|  | 250 | &nbsp;&nbsp; 249886 |
| &nbsp;&nbsp;&nbsp; Wireless PropCo Funding LLC, Series 2025-1A, <br> Class B, 4.30%, 06/25/55<sup>(b)</sup><br>|  | 725 | &nbsp;&nbsp; 692088 |
| **Total Asset-Backed Securities — 9.0%** <br>**(Cost: $66,934,611)** | **Total Asset-Backed Securities — 9.0%** <br>**(Cost: $66,934,611)** | **Total Asset-Backed Securities — 9.0%** <br>**(Cost: $66,934,611)** | &nbsp;&nbsp; 65938444 |

---

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

---

| | | |
|:---|:---|:---|
|  | <br>*Shares*<br>|  |
| **Common Stocks** | **Common Stocks** | **Common Stocks** |
| **Capital Markets — 0.0%** | **Capital Markets — 0.0%** |  |
| Wom New Holdco<sup>(c)(e)</sup> | 465 | &nbsp;&nbsp; 10695 |
| **Total Common Stocks — 0.0%** <br>**(Cost: $13,485)** | **Total Common Stocks — 0.0%** <br>**(Cost: $13,485)** | &nbsp;&nbsp; 10695 |

---

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

---

| | | | |
|:---|:---|:---|:---|
|  |  | *Par* <br>*(000)*<br>|  |
| **Corporate Bonds** | **Corporate Bonds** | **Corporate Bonds** | **Corporate Bonds** |
| **Advertising Agencies — 0.5%** | **Advertising Agencies — 0.5%** | **Advertising Agencies — 0.5%** | **Advertising Agencies — 0.5%** |
| Clear Channel Outdoor Holdings, Inc.<sup>(b)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp; 7.75%, 04/15/28 | USD | 335 | &nbsp;&nbsp; 334391 |
| &nbsp;&nbsp;&nbsp; 7.50%, 06/01/29<sup>(f)</sup> |  | 604 | &nbsp;&nbsp; 586613 |
| &nbsp;&nbsp;&nbsp; 7.88%, 04/01/30<sup>(f)</sup> |  | 383 | &nbsp;&nbsp; 402160 |
| &nbsp;&nbsp;&nbsp; 7.13%, 02/15/31 |  | 521 | &nbsp;&nbsp; 538533 |
| &nbsp;&nbsp;&nbsp; 7.50%, 03/15/33 |  | 605 | &nbsp;&nbsp; 632569 |
| CMG Media Corp., 8.88%, 06/18/29<sup>(b)</sup> |  | 127 | &nbsp;&nbsp; 116639 |
| Interpublic Group of Cos., Inc., 5.40%, 10/01/48<sup>(f)</sup> |  | 500 | &nbsp;&nbsp; 466510 |
| Lamar Media Corp. |  |  |  |
| &nbsp;&nbsp;&nbsp; 4.00%, 02/15/30 |  | 21 | &nbsp;&nbsp; 20104 |
| &nbsp;&nbsp;&nbsp; 5.38%, 11/01/33<sup>(b)</sup> |  | 126 | &nbsp;&nbsp; 125073 |
| Neptune Bidco U.S., Inc., 9.29%, 04/15/29<sup>(b)</sup> |  | 255 | &nbsp;&nbsp; 250331 |
| &nbsp;&nbsp;&nbsp; Outfront Media Capital LLC/Outfront Media Capital <br> Corp.<sup>(b)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp; 5.00%, 08/15/27 |  | 46 | &nbsp;&nbsp; 45769 |
| &nbsp;&nbsp;&nbsp; 4.25%, 01/15/29 |  | 264 | &nbsp;&nbsp; 253570 |
| &nbsp;&nbsp;&nbsp; 4.63%, 03/15/30<sup>(f)</sup> |  | 66 | &nbsp;&nbsp; 63432 |
| &nbsp;&nbsp;&nbsp; 7.38%, 02/15/31 |  | 72 | &nbsp;&nbsp; 75956 |
| Stagwell Global LLC, 5.63%, 08/15/29<sup>(b)</sup> |  | 69 | &nbsp;&nbsp; 67028 |
|  |  |  | &nbsp;&nbsp; 3978678 |
| **Aerospace & Defense — 2.6%** | **Aerospace & Defense — 2.6%** | **Aerospace & Defense — 2.6%** | **Aerospace & Defense — 2.6%** |
| AAR Escrow Issuer LLC, 6.75%, 03/15/29<sup>(b)</sup> |  | 253 | &nbsp;&nbsp; 260444 |
| ATI, Inc. |  |  |  |
| &nbsp;&nbsp;&nbsp; 5.88%, 12/01/27 |  | 97 | &nbsp;&nbsp; 97185 |
| &nbsp;&nbsp;&nbsp; 7.25%, 08/15/30 |  | 255 | &nbsp;&nbsp; 267670 |
| &nbsp;&nbsp;&nbsp; 5.13%, 10/01/31 |  | 110 | &nbsp;&nbsp; 108254 |
| Boeing Co. |  |  |  |
| &nbsp;&nbsp;&nbsp; 3.20%, 03/01/29 |  | 1840 | &nbsp;&nbsp; 1775449 |
| &nbsp;&nbsp;&nbsp; 2.95%, 02/01/30 |  | 800 | &nbsp;&nbsp; 753192 |
| &nbsp;&nbsp;&nbsp; 6.53%, 05/01/34 |  | 550 | &nbsp;&nbsp; 608006 |
| Bombardier, Inc.<sup>(b)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp; 6.00%, 02/15/28 |  | 161 | &nbsp;&nbsp; 161407 |
| &nbsp;&nbsp;&nbsp; 8.75%, 11/15/30 |  | 355 | &nbsp;&nbsp; 382829 |
| &nbsp;&nbsp;&nbsp; 7.25%, 07/01/31 |  | 37 | &nbsp;&nbsp; 39221 |

---

---

| | | | |
|:---|:---|:---|:---|
| *Security* |  | *Par*<br> *(000)*<br>| *Value* |
| **Aerospace & Defense (continued)** | **Aerospace & Defense (continued)** | **Aerospace & Defense (continued)** | **Aerospace & Defense (continued)** |
| Bombardier, Inc.<sup>(b)</sup> (continued) |  |  |  |
| &nbsp;&nbsp;&nbsp; 7.00%, 06/01/32 | USD | 162 | &nbsp;&nbsp; $169320 |
| &nbsp;&nbsp;&nbsp; 6.75%, 06/15/33 |  | 187 | &nbsp;&nbsp; 195145 |
| &nbsp;&nbsp;&nbsp; Efesto Bidco SpA Efesto U.S. LLC, Series XR, 7.50%, <br> 02/15/32<sup>(b)</sup><br>|  | 701 | &nbsp;&nbsp; 713338 |
| General Electric Co., 6.15%, 08/07/37 |  | 2150 | &nbsp;&nbsp; 2371704 |
| Goat Holdco LLC, 6.75%, 02/01/32<sup>(b)</sup> |  | 109 | &nbsp;&nbsp; 111725 |
| L3Harris Technologies, Inc. |  |  |  |
| &nbsp;&nbsp;&nbsp; 2.90%, 12/15/29 |  | 1200 | &nbsp;&nbsp; 1138213 |
| &nbsp;&nbsp;&nbsp; 1.80%, 01/15/31 |  | 300 | &nbsp;&nbsp; 264098 |
| Lockheed Martin Corp., 3.80%, 03/01/45 |  | 800 | &nbsp;&nbsp; 653337 |
| Northrop Grumman Corp. |  |  |  |
| &nbsp;&nbsp;&nbsp; 4.70%, 03/15/33 |  | 400 | &nbsp;&nbsp; 402789 |
| &nbsp;&nbsp;&nbsp; 4.75%, 06/01/43 |  | 850 | &nbsp;&nbsp; 786818 |
| RTX Corp. |  |  |  |
| &nbsp;&nbsp;&nbsp; 2.38%, 03/15/32 |  | 1000 | &nbsp;&nbsp; 883541 |
| &nbsp;&nbsp;&nbsp; 5.15%, 02/27/33 |  | 900 | &nbsp;&nbsp; 932169 |
| &nbsp;&nbsp;&nbsp; 4.50%, 06/01/42 |  | 300 | &nbsp;&nbsp; 271287 |
| Spirit AeroSystems, Inc.<sup>(b)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp; 9.38%, 11/30/29 |  | 363 | &nbsp;&nbsp; 382318 |
| &nbsp;&nbsp;&nbsp; 9.75%, 11/15/30 |  | 342 | &nbsp;&nbsp; 376130 |
| TransDigm, Inc.<sup>(b)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp; 6.75%, 08/15/28 |  | 150 | &nbsp;&nbsp; 152859 |
| &nbsp;&nbsp;&nbsp; 6.38%, 03/01/29 |  | 596 | &nbsp;&nbsp; 609351 |
| &nbsp;&nbsp;&nbsp; 6.63%, 03/01/32 |  | 1223 | &nbsp;&nbsp; 1259133 |
| &nbsp;&nbsp;&nbsp; 6.00%, 01/15/33 |  | 744 | &nbsp;&nbsp; 752246 |
| &nbsp;&nbsp;&nbsp; 6.38%, 05/31/33 |  | 933 | &nbsp;&nbsp; 943490 |
| &nbsp;&nbsp;&nbsp; 6.25%, 01/31/34 |  | 115 | &nbsp;&nbsp; 118268 |
| &nbsp;&nbsp;&nbsp; 6.75%, 01/31/34 |  | 810 | &nbsp;&nbsp; 837507 |
|  |  |  | &nbsp;&nbsp; 18778443 |
| **Air Freight & Logistics**<sup>(b)</sup> **— 0.0%** | **Air Freight & Logistics**<sup>(b)</sup> **— 0.0%** | **Air Freight & Logistics**<sup>(b)</sup> **— 0.0%** | **Air Freight & Logistics**<sup>(b)</sup> **— 0.0%** |
| Rand Parent LLC, 8.50%, 02/15/30 |  | 127 | &nbsp;&nbsp; 131961 |
| Stonepeak Nile Parent LLC, 7.25%, 03/15/32 |  | 60 | &nbsp;&nbsp; 63182 |
|  |  |  | &nbsp;&nbsp; 195143 |
| **Automobile Components — 0.4%** | **Automobile Components — 0.4%** | **Automobile Components — 0.4%** | **Automobile Components — 0.4%** |
| American Axle & Manufacturing, Inc.<sup>(b)(g)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp; 10/15/32 |  | 91 | &nbsp;&nbsp; 90846 |
| &nbsp;&nbsp;&nbsp; 10/15/33 |  | 95 | &nbsp;&nbsp; 95741 |
| Aptiv Swiss Holdings Ltd., 5.40%, 03/15/49 |  | 465 | &nbsp;&nbsp; 425191 |
| Clarios Global LP/Clarios U.S. Finance Co.<sup>(b)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp; 6.75%, 05/15/28 |  | 525 | &nbsp;&nbsp; 536595 |
| &nbsp;&nbsp;&nbsp; 6.75%, 02/15/30 |  | 190 | &nbsp;&nbsp; 196272 |
| &nbsp;&nbsp;&nbsp; 4.75%, 06/15/31 | EUR | 205 | &nbsp;&nbsp; 245215 |
| &nbsp;&nbsp;&nbsp; 6.75%, 09/15/32 | USD | 409 | &nbsp;&nbsp; 418063 |
| Dana, Inc. |  |  |  |
| &nbsp;&nbsp;&nbsp; 4.25%, 09/01/30 |  | 46 | &nbsp;&nbsp; 45556 |
| &nbsp;&nbsp;&nbsp; 4.50%, 02/15/32 |  | 70 | &nbsp;&nbsp; 68926 |
| Goodyear Tire & Rubber Co. |  |  |  |
| &nbsp;&nbsp;&nbsp; 6.63%, 07/15/30 |  | 88 | &nbsp;&nbsp; 89290 |
| &nbsp;&nbsp;&nbsp; 5.25%, 04/30/31 |  | 6 | &nbsp;&nbsp; 5670 |
| &nbsp;&nbsp;&nbsp; 5.63%, 04/30/33 |  | 81 | &nbsp;&nbsp; 75364 |
| &nbsp;&nbsp;&nbsp; IHO Verwaltungs GmbH, (7.00% PIK), 7.00%, <br> 11/15/31<sup>(d)(h)</sup><br>| EUR | 100 | &nbsp;&nbsp; 127085 |
| Qnity Electronics, Inc.<sup>(b)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp; 5.75%, 08/15/32 | USD | 166 | &nbsp;&nbsp; 167266 |
| &nbsp;&nbsp;&nbsp; 6.25%, 08/15/33 |  | 127 | &nbsp;&nbsp; 129691 |
| Schaeffler AG, 4.25%, 04/01/28<sup>(d)</sup> | EUR | 100 | &nbsp;&nbsp; 119329 |
| Tenneco, Inc., 8.00%, 11/17/28<sup>(b)</sup> | USD | 183 | &nbsp;&nbsp; 183334 |
| ZF Europe Finance BV, 7.00%, 06/12/30<sup>(d)</sup> | EUR | 100 | &nbsp;&nbsp; 121870 |
|  |  |  | &nbsp;&nbsp; 3141304 |

---

------

Schedule of Investments (unaudited)(continued)

September 30, 2025

**BlackRock Core Bond Trust (BHK)** 

**(Percentages shown are based on Net Assets)**

---

| | | | |
|:---|:---|:---|:---|
| *Security* |  | *Par*<br> *(000)*<br>| *Value* |
| **Automobiles — 1.0%** | **Automobiles — 1.0%** | **Automobiles — 1.0%** | **Automobiles — 1.0%** |
| Asbury Automotive Group, Inc., 4.50%, 03/01/28 | USD | 10 | &nbsp;&nbsp; $9878 |
| Carvana Co.<sup>(b)(h)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp; (9.00% PIK), 9.00%, 06/01/30 |  | 325 | &nbsp;&nbsp; 340130 |
| &nbsp;&nbsp;&nbsp; (9.00% PIK), 9.00%, 06/01/31 |  | 986 | &nbsp;&nbsp; 1116073 |
| Cougar JV Subsidiary LLC, 8.00%, 05/15/32<sup>(b)</sup> |  | 108 | &nbsp;&nbsp; 114825 |
| Ford Motor Co., 4.75%, 01/15/43 |  | 2000 | &nbsp;&nbsp; 1594632 |
| General Motors Co., 6.25%, 10/02/43 |  | 2506 | &nbsp;&nbsp; 2548429 |
| LCM Investments Holdings II LLC<sup>(b)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp; 4.88%, 05/01/29 |  | 45 | &nbsp;&nbsp; 44089 |
| &nbsp;&nbsp;&nbsp; 8.25%, 08/01/31 |  | 252 | &nbsp;&nbsp; 266516 |
| Lithia Motors, Inc., 5.50%, 10/01/30<sup>(b)</sup> |  | 104 | &nbsp;&nbsp; 103870 |
| Nissan Motor Acceptance Co. LLC, 6.13%, 09/30/30<sup>(b)</sup> |  | 268 | &nbsp;&nbsp; 268091 |
| Nissan Motor Co. Ltd. |  |  |  |
| &nbsp;&nbsp;&nbsp; 5.25%, 07/17/29<sup>(d)</sup> | EUR | 100 | &nbsp;&nbsp; 119651 |
| &nbsp;&nbsp;&nbsp; 7.75%, 07/17/32<sup>(b)</sup> | USD | 200 | &nbsp;&nbsp; 211653 |
| &nbsp;&nbsp;&nbsp; 6.38%, 07/17/33<sup>(b)</sup> | EUR | 100 | &nbsp;&nbsp; 120875 |
| &nbsp;&nbsp;&nbsp; 8.13%, 07/17/35<sup>(b)</sup> | USD | 362 | &nbsp;&nbsp; 388605 |
| &nbsp;&nbsp;&nbsp; RCI Banque SA, (5-year EURIBOR ICE Swap + 2.20%), <br> 4.75%, 03/24/37<sup>(a)(d)</sup><br>| EUR | 100 | &nbsp;&nbsp; 119454 |
| Renault SA, 3.88%, 09/30/30<sup>(d)</sup> |  | 100 | &nbsp;&nbsp; 117227 |
|  |  |  | &nbsp;&nbsp; 7483998 |
| **Banks — 1.0%** | **Banks — 1.0%** | **Banks — 1.0%** | **Banks — 1.0%** |
| &nbsp;&nbsp;&nbsp; Abanca Corp. Bancaria SA, (5-year EURIBOR ICE <br> Swap + 2.45%), 4.63%, 12/11/36<sup>(a)(d)</sup><br>|  | 100 | &nbsp;&nbsp; 120900 |
| &nbsp;&nbsp;&nbsp; Al Rajhi Sukuk Ltd., (6 year USD CMT + 1.59%), <br> 6.25%<sup>(a)(d)(i)</sup><br>| USD | 200 | &nbsp;&nbsp; 201664 |
| &nbsp;&nbsp;&nbsp; Banco Mercantil del Norte SA, (5-year CMT + 4.07%), <br> 8.38%<sup>(a)(b)(i)</sup><br>|  | 200 | &nbsp;&nbsp; 210900 |
| Bangkok Bank PCL/Hong Kong, 5.30%, 09/21/28<sup>(b)</sup> |  | 200 | &nbsp;&nbsp; 204874 |
| &nbsp;&nbsp;&nbsp; Standard Chartered PLC, (5-year USD ICE Swap + <br> 1.97%), 4.87%, 03/15/33<sup>(a)(b)</sup><br>|  | 500 | &nbsp;&nbsp; 500885 |
| Walker & Dunlop, Inc., 6.63%, 04/01/33<sup>(b)</sup> |  | 76 | &nbsp;&nbsp; 77721 |
| Wells Fargo & Co.<sup>(a)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp; (1-day SOFR + 1.50%), 5.15%, 04/23/31 |  | 2000 | &nbsp;&nbsp; 2062602 |
| &nbsp;&nbsp;&nbsp; (1-day SOFR + 1.78%), 5.50%, 01/23/35 |  | 1290 | &nbsp;&nbsp; 1345587 |
| &nbsp;&nbsp;&nbsp; (1-day SOFR + 2.02%), 5.39%, 04/24/34 |  | 1124 | &nbsp;&nbsp; 1167904 |
| &nbsp;&nbsp;&nbsp; (1-day SOFR + 2.53%), 3.07%, 04/30/41<sup>(f)</sup> |  | 2250 | &nbsp;&nbsp; 1746647 |
|  |  |  | &nbsp;&nbsp; 7639684 |
| **Beverages — 0.6%** | **Beverages — 0.6%** | **Beverages — 0.6%** | **Beverages — 0.6%** |
| &nbsp;&nbsp;&nbsp; Anheuser-Busch InBev Worldwide, Inc., 4.44%, <br> 10/06/48<br>|  | 4600 | &nbsp;&nbsp; 3997580 |
| Keurig Dr. Pepper, Inc., Series 31, 2.25%, 03/15/31 |  | 400 | &nbsp;&nbsp; 352707 |
|  |  |  | &nbsp;&nbsp; 4350287 |
| **Biotechnology — 0.5%** | **Biotechnology — 0.5%** | **Biotechnology — 0.5%** | **Biotechnology — 0.5%** |
| Amgen, Inc. |  |  |  |
| &nbsp;&nbsp;&nbsp; 5.25%, 03/02/30 |  | 800 | &nbsp;&nbsp; 829294 |
| &nbsp;&nbsp;&nbsp; 4.20%, 03/01/33 |  | 1000 | &nbsp;&nbsp; 972509 |
| &nbsp;&nbsp;&nbsp; 5.25%, 03/02/33 |  | 600 | &nbsp;&nbsp; 621505 |
| &nbsp;&nbsp;&nbsp; 5.60%, 03/02/43 |  | 650 | &nbsp;&nbsp; 658614 |
| Baxalta, Inc., 5.25%, 06/23/45 |  | 500 | &nbsp;&nbsp; 479145 |
|  |  |  | &nbsp;&nbsp; 3561067 |
| **Building Materials — 0.6%** | **Building Materials — 0.6%** | **Building Materials — 0.6%** | **Building Materials — 0.6%** |
| AmeriTex HoldCo Intermediate LLC, 7.63%, 08/15/33<sup>(b)</sup> |  | 133 | &nbsp;&nbsp; 138425 |
| Builders FirstSource, Inc.<sup>(b)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp; 6.38%, 03/01/34 |  | 99 | &nbsp;&nbsp; 101980 |
| &nbsp;&nbsp;&nbsp; 6.75%, 05/15/35 |  | 91 | &nbsp;&nbsp; 95016 |
| CP Atlas Buyer, Inc., 9.75%, 07/15/30<sup>(b)</sup> |  | 41 | &nbsp;&nbsp; 42939 |
| EMRLD Borrower LP/Emerald Co-Issuer, Inc. |  |  |  |
| &nbsp;&nbsp;&nbsp; 6.38%, 12/15/30<sup>(b)</sup> | EUR | 110 | &nbsp;&nbsp; 134923 |
| &nbsp;&nbsp;&nbsp; 6.38%, 12/15/30<sup>(d)</sup> |  | 100 | &nbsp;&nbsp; 122657 |

---

---

| | | | |
|:---|:---|:---|:---|
| *Security* |  | *Par*<br> *(000)*<br>| *Value* |
| **Building Materials (continued)** | **Building Materials (continued)** | **Building Materials (continued)** | **Building Materials (continued)** |
| &nbsp;&nbsp;&nbsp; EMRLD Borrower LP/Emerald Co-Issuer, <br> Inc. (continued)<br>|  |  |  |
| &nbsp;&nbsp;&nbsp; 6.63%, 12/15/30<sup>(b)</sup> | USD | 794 | &nbsp;&nbsp; $816191 |
| &nbsp;&nbsp;&nbsp; 6.75%, 07/15/31<sup>(b)</sup> |  | 122 | &nbsp;&nbsp; 126716 |
| Jeld-Wen, Inc.<sup>(b)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp; 4.88%, 12/15/27 |  | 121 | &nbsp;&nbsp; 118079 |
| &nbsp;&nbsp;&nbsp; 7.00%, 09/01/32<sup>(f)</sup> |  | 113 | &nbsp;&nbsp; 95426 |
| JH North America Holdings, Inc.<sup>(b)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp; 5.88%, 01/31/31 |  | 127 | &nbsp;&nbsp; 128945 |
| &nbsp;&nbsp;&nbsp; 6.13%, 07/31/32 |  | 113 | &nbsp;&nbsp; 115743 |
| New Enterprise Stone & Lime Co., Inc.<sup>(b)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp; 5.25%, 07/15/28 |  | 55 | &nbsp;&nbsp; 54492 |
| &nbsp;&nbsp;&nbsp; 9.75%, 07/15/28 |  | 89 | &nbsp;&nbsp; 89197 |
| Quikrete Holdings, Inc.<sup>(b)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp; 6.38%, 03/01/32 |  | 803 | &nbsp;&nbsp; 831783 |
| &nbsp;&nbsp;&nbsp; 6.75%, 03/01/33 |  | 167 | &nbsp;&nbsp; 173629 |
| Smyrna Ready Mix Concrete LLC<sup>(b)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp; 6.00%, 11/01/28 |  | 34 | &nbsp;&nbsp; 34011 |
| &nbsp;&nbsp;&nbsp; 8.88%, 11/15/31 |  | 126 | &nbsp;&nbsp; 133049 |
| Standard Building Solutions, Inc.<sup>(b)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp; 6.50%, 08/15/32 |  | 264 | &nbsp;&nbsp; 270870 |
| &nbsp;&nbsp;&nbsp; 6.25%, 08/01/33 |  | 374 | &nbsp;&nbsp; 379006 |
| Standard Industries, Inc.<sup>(b)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp; 4.75%, 01/15/28 |  | 3 | &nbsp;&nbsp; 2974 |
| &nbsp;&nbsp;&nbsp; 4.38%, 07/15/30 |  | 170 | &nbsp;&nbsp; 162993 |
| &nbsp;&nbsp;&nbsp; 3.38%, 01/15/31 |  | 28 | &nbsp;&nbsp; 25356 |
| Wilsonart LLC, 11.00%, 08/15/32<sup>(b)</sup> |  | 194 | &nbsp;&nbsp; 188849 |
|  |  |  | &nbsp;&nbsp; 4383249 |
| **Building Products — 1.0%** | **Building Products — 1.0%** | **Building Products — 1.0%** | **Building Products — 1.0%** |
| Foundation Building Materials, Inc., 6.00%, 03/01/29<sup>(b)</sup> |  | 9 | &nbsp;&nbsp; 9123 |
| Home Depot, Inc., 5.88%, 12/16/36 |  | 1660 | &nbsp;&nbsp; 1807675 |
| Lowe's Cos., Inc. |  |  |  |
| &nbsp;&nbsp;&nbsp; 1.70%, 10/15/30 |  | 1600 | &nbsp;&nbsp; 1408092 |
| &nbsp;&nbsp;&nbsp; 5.00%, 04/15/33<sup>(f)</sup> |  | 1000 | &nbsp;&nbsp; 1023215 |
| &nbsp;&nbsp;&nbsp; 3.70%, 04/15/46 |  | 1000 | &nbsp;&nbsp; 768279 |
| Park River Holdings, Inc., 03/15/31<sup>(b)(g)</sup> |  | 99 | &nbsp;&nbsp; 100255 |
| QXO Building Products, Inc., 6.75%, 04/30/32<sup>(b)(f)</sup> |  | 593 | &nbsp;&nbsp; 613990 |
| White Cap Buyer LLC, 6.88%, 10/15/28<sup>(b)</sup> |  | 1194 | &nbsp;&nbsp; 1190453 |
|  |  |  | &nbsp;&nbsp; 6921082 |
| **Capital Markets — 0.8%** | **Capital Markets — 0.8%** | **Capital Markets — 0.8%** | **Capital Markets — 0.8%** |
| Apollo Debt Solutions BDC |  |  |  |
| &nbsp;&nbsp;&nbsp; 5.88%, 08/30/30<sup>(b)</sup> |  | 96 | &nbsp;&nbsp; 97685 |
| &nbsp;&nbsp;&nbsp; 6.70%, 07/29/31 |  | 105 | &nbsp;&nbsp; 111280 |
| &nbsp;&nbsp;&nbsp; 6.55%, 03/15/32<sup>(b)</sup> |  | 24 | &nbsp;&nbsp; 25185 |
| Bain Capital Specialty Finance, Inc., 5.95%, 03/15/30 |  | 40 | &nbsp;&nbsp; 40205 |
| Blackstone Private Credit Fund, 6.00%, 11/22/34 |  | 405 | &nbsp;&nbsp; 414739 |
| Blue Owl Capital Corp., 6.20%, 07/15/30 |  | 311 | &nbsp;&nbsp; 319802 |
| Blue Owl Capital Corp. II, 8.45%, 11/15/26 |  | 66 | &nbsp;&nbsp; 68373 |
| FMR LLC, 4.95%, 02/01/33<sup>(b)</sup> |  | 2300 | &nbsp;&nbsp; 2320353 |
| Focus Financial Partners LLC, 6.75%, 09/15/31<sup>(b)</sup> |  | 167 | &nbsp;&nbsp; 171028 |
| &nbsp;&nbsp;&nbsp; HA Sustainable Infrastructure Capital, Inc., 6.38%, <br> 07/01/34<br>|  | 109 | &nbsp;&nbsp; 110932 |
| &nbsp;&nbsp;&nbsp; HAT Holdings I LLC/HAT Holdings II LLC, 8.00%, <br> 06/15/27<sup>(b)</sup><br>|  | 36 | &nbsp;&nbsp; 37479 |
| Icahn Enterprises LP/Icahn Enterprises Finance Corp. |  |  |  |
| &nbsp;&nbsp;&nbsp; 5.25%, 05/15/27 |  | 392 | &nbsp;&nbsp; 385315 |
| &nbsp;&nbsp;&nbsp; 9.75%, 01/15/29 |  | 110 | &nbsp;&nbsp; 111018 |
| &nbsp;&nbsp;&nbsp; 4.38%, 02/01/29 |  | 94 | &nbsp;&nbsp; 81142 |
| &nbsp;&nbsp;&nbsp; 10.00%, 11/15/29<sup>(b)</sup> |  | 149 | &nbsp;&nbsp; 149658 |
| Jane Street Group/JSG Finance, Inc.<sup>(b)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp; 6.13%, 11/01/32 |  | 41 | &nbsp;&nbsp; 41556 |

---

Schedule of Investments

------

Schedule of Investments (unaudited)(continued)

September 30, 2025

**BlackRock Core Bond Trust (BHK)** 

**(Percentages shown are based on Net Assets)**

---

| | | | |
|:---|:---|:---|:---|
| *Security* |  | *Par*<br> *(000)*<br>| *Value* |
| **Capital Markets (continued)** | **Capital Markets (continued)** | **Capital Markets (continued)** | **Capital Markets (continued)** |
| Jane Street Group/JSG Finance, Inc.<sup>(b)</sup> (continued) |  |  |  |
| &nbsp;&nbsp;&nbsp; 6.75%, 05/01/33 | USD | 70 | &nbsp;&nbsp; $72704 |
| JPMorgan Chase Financial Co. LLC, 0.50%, 06/15/27<sup>(j)</sup> |  | 191 | &nbsp;&nbsp; 221178 |
| MDGH GMTN RSC Ltd., 4.38%, 11/22/33<sup>(b)</sup> |  | 200 | &nbsp;&nbsp; 197500 |
| Osaic Holdings, Inc.<sup>(b)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp; 6.75%, 08/01/32 |  | 76 | &nbsp;&nbsp; 78496 |
| &nbsp;&nbsp;&nbsp; 8.00%, 08/01/33 |  | 127 | &nbsp;&nbsp; 131622 |
| Raymond James Financial, Inc., 4.95%, 07/15/46 |  | 400 | &nbsp;&nbsp; 369220 |
| SURA Asset Management SA, 6.35%, 05/13/32<sup>(b)</sup> |  | 200 | &nbsp;&nbsp; 213500 |
| &nbsp;&nbsp;&nbsp; WOM Chile Holdco SpA, (5.00% PIK), 5.00%, <br> 04/01/32<sup>(b)(h)(j)</sup><br>|  | 245 | &nbsp;&nbsp; 218056 |
|  |  |  | &nbsp;&nbsp; 5988026 |
| **Chemicals — 1.0%** | **Chemicals — 1.0%** | **Chemicals — 1.0%** | **Chemicals — 1.0%** |
| &nbsp;&nbsp;&nbsp; Advancion Sciences, Inc., (9.25% Cash or 10.00% PIK), <br> 9.25%, 11/01/26<sup>(b)(h)</sup><br>|  | 214 | &nbsp;&nbsp; 189327 |
| Avient Corp., 6.25%, 11/01/31<sup>(b)</sup> |  | 94 | &nbsp;&nbsp; 95459 |
| &nbsp;&nbsp;&nbsp; Axalta Coating Systems Dutch Holding B BV, 7.25%, <br> 02/15/31<sup>(b)</sup><br>|  | 173 | &nbsp;&nbsp; 180996 |
| Axalta Coating Systems LLC, 3.38%, 02/15/29<sup>(b)</sup> |  | 198 | &nbsp;&nbsp; 187586 |
| Celanese U.S. Holdings LLC, 6.75%, 04/15/33<sup>(f)</sup> |  | 95 | &nbsp;&nbsp; 94599 |
| Chemours Co. |  |  |  |
| &nbsp;&nbsp;&nbsp; 5.38%, 05/15/27 |  | 159 | &nbsp;&nbsp; 158869 |
| &nbsp;&nbsp;&nbsp; 5.75%, 11/15/28<sup>(b)</sup> |  | 387 | &nbsp;&nbsp; 377470 |
| &nbsp;&nbsp;&nbsp; 8.00%, 01/15/33<sup>(b)</sup> |  | 94 | &nbsp;&nbsp; 93498 |
| Element Solutions, Inc., 3.88%, 09/01/28<sup>(b)</sup> |  | 466 | &nbsp;&nbsp; 451615 |
| EQUATE Petrochemical Co. KSC, 4.25%, 11/03/26<sup>(d)</sup> |  | 200 | &nbsp;&nbsp; 199100 |
| HB Fuller Co., 4.25%, 10/15/28 |  | 3 | &nbsp;&nbsp; 2917 |
| Herens Holdco SARL, 4.75%, 05/15/28<sup>(b)</sup> |  | 200 | &nbsp;&nbsp; 175218 |
| Inversion Escrow Issuer LLC, 6.75%, 08/01/32<sup>(b)</sup> |  | 352 | &nbsp;&nbsp; 346760 |
| Itelyum Regeneration SpA, 5.75%, 04/15/30<sup>(d)</sup> | EUR | 100 | &nbsp;&nbsp; 119447 |
| Mativ Holdings, Inc., 8.00%, 10/01/29<sup>(b)</sup> | USD | 80 | &nbsp;&nbsp; 79205 |
| Methanex U.S. Operations, Inc., 6.25%, 03/15/32<sup>(b)</sup> |  | 117 | &nbsp;&nbsp; 119044 |
| OCP SA, 7.50%, 05/02/54<sup>(b)</sup> |  | 200 | &nbsp;&nbsp; 221938 |
| Olympus Water U.S. Holding Corp. |  |  |  |
| &nbsp;&nbsp;&nbsp; 9.63%, 11/15/28<sup>(d)</sup> | EUR | 100 | &nbsp;&nbsp; 123137 |
| &nbsp;&nbsp;&nbsp; 9.75%, 11/15/28<sup>(b)</sup> | USD | 363 | &nbsp;&nbsp; 380969 |
| &nbsp;&nbsp;&nbsp; 6.25%, 10/01/29<sup>(b)(f)</sup> |  | 200 | &nbsp;&nbsp; 194199 |
| &nbsp;&nbsp;&nbsp; 7.25%, 06/15/31<sup>(b)</sup> |  | 320 | &nbsp;&nbsp; 324408 |
| &nbsp;&nbsp;&nbsp; 02/15/33<sup>(b)(g)</sup> |  | 543 | &nbsp;&nbsp; 543566 |
| Orbia Advance Corp. SAB de CV, 6.80%, 05/13/30<sup>(b)</sup> |  | 200 | &nbsp;&nbsp; 207951 |
| Sasol Financing USA LLC, 6.50%, 09/27/28 |  | 200 | &nbsp;&nbsp; 199062 |
| Sherwin-Williams Co., 3.80%, 08/15/49 |  | 350 | &nbsp;&nbsp; 267908 |
| SK Invictus Intermediate II SARL, 5.00%, 10/30/29<sup>(b)</sup> |  | 192 | &nbsp;&nbsp; 187922 |
| Solstice Advanced Materials, Inc., 5.63%, 09/30/33<sup>(b)</sup> |  | 248 | &nbsp;&nbsp; 248819 |
| WR Grace Holdings LLC<sup>(b)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp; 4.88%, 06/15/27 |  | 76 | &nbsp;&nbsp; 75529 |
| &nbsp;&nbsp;&nbsp; 5.63%, 08/15/29<sup>(f)</sup> |  | 945 | &nbsp;&nbsp; 878375 |
| &nbsp;&nbsp;&nbsp; 7.38%, 03/01/31 |  | 122 | &nbsp;&nbsp; 124417 |
| &nbsp;&nbsp;&nbsp; 6.63%, 08/15/32 |  | 277 | &nbsp;&nbsp; 273892 |
|  |  |  | &nbsp;&nbsp; 7123202 |
| **Commercial Services & Supplies — 1.7%** | **Commercial Services & Supplies — 1.7%** | **Commercial Services & Supplies — 1.7%** | **Commercial Services & Supplies — 1.7%** |
| ADT Security Corp.<sup>(b)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp; 4.88%, 07/15/32 |  | 25 | &nbsp;&nbsp; 24211 |
| &nbsp;&nbsp;&nbsp; 10/15/33<sup>(g)</sup> |  | 272 | &nbsp;&nbsp; 272000 |
| Albion Financing 1 SARL/Aggreko Holdings, Inc. |  |  |  |
| &nbsp;&nbsp;&nbsp; 5.38%, 05/21/30<sup>(d)</sup> | EUR | 100 | &nbsp;&nbsp; 121792 |
| &nbsp;&nbsp;&nbsp; 7.00%, 05/21/30<sup>(b)</sup> | USD | 452 | &nbsp;&nbsp; 467504 |
| Allied Universal Holdco LLC, 7.88%, 02/15/31<sup>(b)</sup> |  | 1793 | &nbsp;&nbsp; 1879953 |
| &nbsp;&nbsp;&nbsp; Allied Universal Holdco LLC/Allied Universal Finance <br> Corp.<sup>(b)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp; 6.00%, 06/01/29<sup>(f)</sup> |  | 898 | &nbsp;&nbsp; 882782 |

---

---

| | | | |
|:---|:---|:---|:---|
| *Security* |  | *Par*<br> *(000)*<br>| *Value* |
| **Commercial Services & Supplies (continued)** | **Commercial Services & Supplies (continued)** | **Commercial Services & Supplies (continued)** | **Commercial Services & Supplies (continued)** |
| &nbsp;&nbsp;&nbsp; Allied Universal Holdco LLC/Allied Universal Finance <br> Corp.<sup>(b)</sup> (continued)<br>|  |  |  |
| &nbsp;&nbsp;&nbsp; 6.88%, 06/15/30 | USD | 571 | &nbsp;&nbsp; $586891 |
| &nbsp;&nbsp;&nbsp; Allied Universal Holdco LLC/Allied Universal Finance <br> Corp./Atlas Luxco 4 SARL, 4.63%, 06/01/28<sup>(b)</sup><br>|  | 329 | &nbsp;&nbsp; 322475 |
| &nbsp;&nbsp;&nbsp; BCP V Modular Services Finance II PLC, 4.75%, <br> 11/30/28<sup>(d)</sup><br>| EUR | 100 | &nbsp;&nbsp; 112394 |
| Belron U.K. Finance PLC, 5.75%, 10/15/29<sup>(b)</sup> | USD | 218 | &nbsp;&nbsp; 220841 |
| Boels Topholding BV, 5.75%, 05/15/30<sup>(d)</sup> | EUR | 100 | &nbsp;&nbsp; 121765 |
| Brink's Co.<sup>(b)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp; 6.50%, 06/15/29 | USD | 85 | &nbsp;&nbsp; 87473 |
| &nbsp;&nbsp;&nbsp; 6.75%, 06/15/32 |  | 56 | &nbsp;&nbsp; 58248 |
| Deluxe Corp., 8.13%, 09/15/29<sup>(b)</sup> |  | 70 | &nbsp;&nbsp; 73095 |
| EquipmentShare.com, Inc., 8.00%, 03/15/33<sup>(b)</sup> |  | 73 | &nbsp;&nbsp; 78018 |
| FTAI Aviation Investors LLC<sup>(b)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp; 5.50%, 05/01/28 |  | 9 | &nbsp;&nbsp; 9001 |
| &nbsp;&nbsp;&nbsp; 7.88%, 12/01/30 |  | 686 | &nbsp;&nbsp; 728976 |
| &nbsp;&nbsp;&nbsp; 7.00%, 05/01/31 |  | 185 | &nbsp;&nbsp; 193521 |
| &nbsp;&nbsp;&nbsp; 7.00%, 06/15/32 |  | 337 | &nbsp;&nbsp; 352678 |
| &nbsp;&nbsp;&nbsp; 5.88%, 04/15/33 |  | 154 | &nbsp;&nbsp; 154966 |
| Garda World Security Corp.<sup>(b)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp; 4.63%, 02/15/27 |  | 106 | &nbsp;&nbsp; 105196 |
| &nbsp;&nbsp;&nbsp; 7.75%, 02/15/28 |  | 108 | &nbsp;&nbsp; 110711 |
| &nbsp;&nbsp;&nbsp; 6.00%, 06/01/29 |  | 34 | &nbsp;&nbsp; 33708 |
| &nbsp;&nbsp;&nbsp; 8.25%, 08/01/32 |  | 268 | &nbsp;&nbsp; 277807 |
| &nbsp;&nbsp;&nbsp; 8.38%, 11/15/32 |  | 695 | &nbsp;&nbsp; 721429 |
| Herc Holdings, Inc.<sup>(b)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp; 7.00%, 06/15/30 |  | 257 | &nbsp;&nbsp; 266953 |
| &nbsp;&nbsp;&nbsp; 7.25%, 06/15/33 |  | 104 | &nbsp;&nbsp; 108566 |
| Hertz Corp., 12.63%, 07/15/29<sup>(b)</sup> |  | 81 | &nbsp;&nbsp; 85872 |
| ION Platform Finance SARL, 09/30/30<sup>(d)(g)</sup> | EUR | 100 | &nbsp;&nbsp; 117405 |
| &nbsp;&nbsp;&nbsp; Prime Security Services Borrower LLC/Prime Finance, <br> Inc., 6.25%, 01/15/28<sup>(b)(f)</sup><br>| USD | 145 | &nbsp;&nbsp; 144873 |
| RR Donnelley & Sons Co., 9.50%, 08/01/29<sup>(b)</sup> |  | 370 | &nbsp;&nbsp; 379200 |
| Service Corp. International |  |  |  |
| &nbsp;&nbsp;&nbsp; 3.38%, 08/15/30 |  | 5 | &nbsp;&nbsp; 4633 |
| &nbsp;&nbsp;&nbsp; 4.00%, 05/15/31 |  | 20 | &nbsp;&nbsp; 18857 |
| &nbsp;&nbsp;&nbsp; 5.75%, 10/15/32 |  | 428 | &nbsp;&nbsp; 433597 |
| Sotheby's, 7.38%, 10/15/27<sup>(b)</sup> |  | 665 | &nbsp;&nbsp; 663126 |
| Transurban Finance Co. Pty. Ltd., 4.13%, 02/02/26<sup>(b)</sup> |  | 580 | &nbsp;&nbsp; 579373 |
| &nbsp;&nbsp;&nbsp; Trustees of Columbia University in the City of New York, <br> Series 2024, 4.36%, 10/01/35<br>|  | 1000 | &nbsp;&nbsp; 979108 |
| Verisure Holding AB, 9.25%, 10/15/27<sup>(d)</sup> | EUR | 80 | &nbsp;&nbsp; 96338 |
| Veritiv Operating Co., 10.50%, 11/30/30<sup>(b)</sup> | USD | 91 | &nbsp;&nbsp; 97664 |
| Wand NewCo 3, Inc., 7.63%, 01/30/32<sup>(b)</sup> |  | 333 | &nbsp;&nbsp; 350856 |
|  |  |  | &nbsp;&nbsp; 12323856 |
| **Communications Equipment**<sup>(b)</sup> **— 0.1%** | **Communications Equipment**<sup>(b)</sup> **— 0.1%** | **Communications Equipment**<sup>(b)</sup> **— 0.1%** | **Communications Equipment**<sup>(b)</sup> **— 0.1%** |
| CommScope LLC, 4.75%, 09/01/29<sup>(f)</sup> |  | 510 | &nbsp;&nbsp; 506726 |
| Viavi Solutions, Inc., 3.75%, 10/01/29 |  | 26 | &nbsp;&nbsp; 24513 |
|  |  |  | &nbsp;&nbsp; 531239 |
| **Construction & Engineering**<sup>(b)</sup> **— 0.2%** | **Construction & Engineering**<sup>(b)</sup> **— 0.2%** | **Construction & Engineering**<sup>(b)</sup> **— 0.2%** | **Construction & Engineering**<sup>(b)</sup> **— 0.2%** |
| AECOM, 6.00%, 08/01/33 |  | 417 | &nbsp;&nbsp; 426337 |
| Arcosa, Inc. |  |  |  |
| &nbsp;&nbsp;&nbsp; 4.38%, 04/15/29 |  | 117 | &nbsp;&nbsp; 113769 |
| &nbsp;&nbsp;&nbsp; 6.88%, 08/15/32 |  | 15 | &nbsp;&nbsp; 15667 |
| Brand Industrial Services, Inc., 10.38%, 08/01/30 |  | 675 | &nbsp;&nbsp; 672849 |
| IHS Holding Ltd., 6.25%, 11/29/28 |  | 200 | &nbsp;&nbsp; 200375 |
|  |  |  | &nbsp;&nbsp; 1428997 |
| **Consumer Discretionary — 0.2%** | **Consumer Discretionary — 0.2%** | **Consumer Discretionary — 0.2%** | **Consumer Discretionary — 0.2%** |
| &nbsp;&nbsp;&nbsp; Arena Luxembourg Finance SARL, (3-mo. EURIBOR + <br> 2.50%), 4.52%, 05/01/30<sup>(a)(d)</sup><br>| EUR | 100 | &nbsp;&nbsp; 118133 |

---

------

Schedule of Investments (unaudited)(continued)

September 30, 2025

**BlackRock Core Bond Trust (BHK)** 

**(Percentages shown are based on Net Assets)**

---

| | | | |
|:---|:---|:---|:---|
| *Security* |  | *Par*<br> *(000)*<br>| *Value* |
| **Consumer Discretionary (continued)** | **Consumer Discretionary (continued)** | **Consumer Discretionary (continued)** | **Consumer Discretionary (continued)** |
| Clarivate Science Holdings Corp.<sup>(b)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp; 3.88%, 07/01/28 | USD | 585 | &nbsp;&nbsp; $562976 |
| &nbsp;&nbsp;&nbsp; 4.88%, 07/01/29<sup>(f)</sup> |  | 230 | &nbsp;&nbsp; 217357 |
| Raven Acquisition Holdings LLC, 6.88%, 11/15/31<sup>(b)</sup> |  | 56 | &nbsp;&nbsp; 57550 |
| Williams Scotsman, Inc.<sup>(b)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp; 6.63%, 06/15/29 |  | 19 | &nbsp;&nbsp; 19434 |
| &nbsp;&nbsp;&nbsp; 6.63%, 04/15/30 |  | 163 | &nbsp;&nbsp; 167770 |
| &nbsp;&nbsp;&nbsp; 7.38%, 10/01/31 |  | 235 | &nbsp;&nbsp; 245420 |
|  |  |  | &nbsp;&nbsp; 1388640 |
| **Consumer Finance — 0.7%** | **Consumer Finance — 0.7%** | **Consumer Finance — 0.7%** | **Consumer Finance — 0.7%** |
| Block, Inc. |  |  |  |
| &nbsp;&nbsp;&nbsp; 2.75%, 06/01/26 |  | 248 | &nbsp;&nbsp; 244742 |
| &nbsp;&nbsp;&nbsp; 5.63%, 08/15/30<sup>(b)</sup> |  | 204 | &nbsp;&nbsp; 206688 |
| &nbsp;&nbsp;&nbsp; 6.50%, 05/15/32 |  | 386 | &nbsp;&nbsp; 399512 |
| &nbsp;&nbsp;&nbsp; 6.00%, 08/15/33<sup>(b)</sup> |  | 313 | &nbsp;&nbsp; 320525 |
| Boost Newco Borrower LLC, 7.50%, 01/15/31<sup>(b)</sup> |  | 200 | &nbsp;&nbsp; 212179 |
| &nbsp;&nbsp;&nbsp; Bread Financial Holdings, Inc., (5-year CMT + 4.30%), <br> 8.38%, 06/15/35<sup>(a)(b)</sup><br>|  | 22 | &nbsp;&nbsp; 22590 |
| &nbsp;&nbsp;&nbsp; Capital One Financial Corp., (1-day SOFR + 2.60%), <br> 5.82%, 02/01/34<sup>(a)</sup><br>|  | 440 | &nbsp;&nbsp; 461431 |
| ION Platform Finance U.S., Inc., 09/30/32<sup>(b)(g)</sup> |  | 558 | &nbsp;&nbsp; 554334 |
| Moody's Corp., 2.75%, 08/19/41 |  | 350 | &nbsp;&nbsp; 252829 |
| Navient Corp. |  |  |  |
| &nbsp;&nbsp;&nbsp; 9.38%, 07/25/30 |  | 100 | &nbsp;&nbsp; 110527 |
| &nbsp;&nbsp;&nbsp; 7.88%, 06/15/32 |  | 189 | &nbsp;&nbsp; 198877 |
| OneMain Finance Corp. |  |  |  |
| &nbsp;&nbsp;&nbsp; 6.63%, 05/15/29 |  | 85 | &nbsp;&nbsp; 87369 |
| &nbsp;&nbsp;&nbsp; 5.38%, 11/15/29 |  | 133 | &nbsp;&nbsp; 131492 |
| &nbsp;&nbsp;&nbsp; 7.88%, 03/15/30 |  | 188 | &nbsp;&nbsp; 198933 |
| &nbsp;&nbsp;&nbsp; 6.13%, 05/15/30 |  | 196 | &nbsp;&nbsp; 198486 |
| &nbsp;&nbsp;&nbsp; 4.00%, 09/15/30 |  | 71 | &nbsp;&nbsp; 65999 |
| &nbsp;&nbsp;&nbsp; 7.50%, 05/15/31 |  | 65 | &nbsp;&nbsp; 67949 |
| &nbsp;&nbsp;&nbsp; 7.13%, 11/15/31 |  | 56 | &nbsp;&nbsp; 58071 |
| &nbsp;&nbsp;&nbsp; 6.75%, 03/15/32 |  | 170 | &nbsp;&nbsp; 173149 |
| &nbsp;&nbsp;&nbsp; 7.13%, 09/15/32 |  | 181 | &nbsp;&nbsp; 186980 |
| &nbsp;&nbsp;&nbsp; 6.50%, 03/15/33 |  | 257 | &nbsp;&nbsp; 257406 |
| &nbsp;&nbsp;&nbsp; Shift4 Payments LLC/Shift4 Payments Finance Sub, <br> Inc.<sup>(b)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp; 6.75%, 08/15/32 |  | 467 | &nbsp;&nbsp; 482827 |
| &nbsp;&nbsp;&nbsp; 5.50%, 05/15/33 | EUR | 145 | &nbsp;&nbsp; 177260 |
| Shift4 Payments, Inc., 0.00%, 12/15/25<sup>(j)(k)</sup> | USD | 112 | &nbsp;&nbsp; 114912 |
| WEX, Inc., 6.50%, 03/15/33<sup>(b)</sup> |  | 263 | &nbsp;&nbsp; 268597 |
|  |  |  | &nbsp;&nbsp; 5453664 |
| **Consumer Staples Distribution & Retail — 0.2%** | **Consumer Staples Distribution & Retail — 0.2%** | **Consumer Staples Distribution & Retail — 0.2%** | **Consumer Staples Distribution & Retail — 0.2%** |
| &nbsp;&nbsp;&nbsp; Albertsons Cos., Inc./Safeway, Inc./New Albertsons <br> LP/Albertsons LLC, 6.25%, 03/15/33<sup>(b)</sup><br>|  | 118 | &nbsp;&nbsp; 120679 |
| B&M European Value Retail SA, 6.50%, 11/27/31<sup>(d)</sup> | GBP | 100 | &nbsp;&nbsp; 136252 |
| Bellis Acquisition Co. PLC, 8.00%, 07/01/31<sup>(d)</sup> | EUR | 100 | &nbsp;&nbsp; 119151 |
| Boots Group Finco LP<sup>(b)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp; 5.38%, 08/31/32 |  | 215 | &nbsp;&nbsp; 259679 |
| &nbsp;&nbsp;&nbsp; 7.38%, 08/31/32 | GBP | 100 | &nbsp;&nbsp; 137008 |
| &nbsp;&nbsp;&nbsp; KeHE Distributors LLC/KeHE Finance Corp./NextWave <br> Distribution, Inc., 9.00%, 02/15/29<sup>(b)</sup><br>| USD | 86 | &nbsp;&nbsp; 90485 |
| &nbsp;&nbsp;&nbsp; Lion/Polaris Lux 4 SA, (3-mo. EURIBOR + 3.63%), <br> 5.64%, 07/01/29<sup>(a)(d)</sup><br>| EUR | 100 | &nbsp;&nbsp; 118712 |
| Market Bidco Finco PLC, 6.75%, 01/31/31<sup>(d)</sup> |  | 100 | &nbsp;&nbsp; 115935 |
| Ocado Group PLC, 11.00%, 06/15/30<sup>(d)</sup> | GBP | 100 | &nbsp;&nbsp; 135122 |
| Performance Food Group, Inc.<sup>(b)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp; 4.25%, 08/01/29 | USD | 19 | &nbsp;&nbsp; 18456 |

---

---

| | | | |
|:---|:---|:---|:---|
| *Security* |  | *Par*<br> *(000)*<br>| *Value* |
| **Consumer Staples Distribution & Retail (continued)** | **Consumer Staples Distribution & Retail (continued)** | **Consumer Staples Distribution & Retail (continued)** | **Consumer Staples Distribution & Retail (continued)** |
| Performance Food Group, Inc.<sup>(b)</sup> (continued) |  |  |  |
| &nbsp;&nbsp;&nbsp; 6.13%, 09/15/32 | USD | 223 | &nbsp;&nbsp; $228421 |
| U.S. Foods, Inc., 7.25%, 01/15/32<sup>(b)</sup> |  | 164 | &nbsp;&nbsp; 171699 |
| United Natural Foods, Inc., 6.75%, 10/15/28<sup>(b)</sup> |  | 135 | &nbsp;&nbsp; 134989 |
|  |  |  | &nbsp;&nbsp; 1786588 |
| **Containers & Packaging — 1.0%** | **Containers & Packaging — 1.0%** | **Containers & Packaging — 1.0%** | **Containers & Packaging — 1.0%** |
| &nbsp;&nbsp;&nbsp; Ardagh Metal Packaging Finance USA LLC/Ardagh <br> Metal Packaging Finance PLC, 4.00%, 09/01/29<sup>(b)(f)</sup><br>|  | 1066 | &nbsp;&nbsp; 986601 |
| &nbsp;&nbsp;&nbsp; Ardagh Packaging Finance PLC/Ardagh Holdings USA, <br> Inc.<br>|  |  |  |
| &nbsp;&nbsp;&nbsp; 2.13%, 08/15/26<sup>(d)</sup> | EUR | 200 | &nbsp;&nbsp; 228337 |
| &nbsp;&nbsp;&nbsp; 4.13%, 08/15/26<sup>(b)(c)</sup> | USD | 402 | &nbsp;&nbsp; 385920 |
| Ball Corp. |  |  |  |
| &nbsp;&nbsp;&nbsp; 4.25%, 07/01/32 | EUR | 100 | &nbsp;&nbsp; 120084 |
| &nbsp;&nbsp;&nbsp; 5.50%, 09/15/33 | USD | 117 | &nbsp;&nbsp; 118258 |
| Clydesdale Acquisition Holdings, Inc.<sup>(b)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp; 6.63%, 04/15/29 |  | 219 | &nbsp;&nbsp; 221495 |
| &nbsp;&nbsp;&nbsp; 6.88%, 01/15/30 |  | 157 | &nbsp;&nbsp; 161052 |
| &nbsp;&nbsp;&nbsp; 8.75%, 04/15/30 |  | 312 | &nbsp;&nbsp; 320500 |
| &nbsp;&nbsp;&nbsp; 6.75%, 04/15/32 |  | 560 | &nbsp;&nbsp; 574481 |
| Crown Americas LLC, 5.88%, 06/01/33<sup>(b)</sup> |  | 288 | &nbsp;&nbsp; 290912 |
| Fedrigoni SpA, 6.13%, 06/15/31<sup>(d)</sup> | EUR | 100 | &nbsp;&nbsp; 116702 |
| International Paper Co., 6.00%, 11/15/41 | USD | 870 | &nbsp;&nbsp; 906102 |
| LABL, Inc.<sup>(b)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp; 5.88%, 11/01/28 |  | 32 | &nbsp;&nbsp; 24794 |
| &nbsp;&nbsp;&nbsp; 9.50%, 11/01/28 |  | 417 | &nbsp;&nbsp; 354257 |
| &nbsp;&nbsp;&nbsp; 8.63%, 10/01/31 |  | 132 | &nbsp;&nbsp; 96972 |
| Magnera Corp., 7.25%, 11/15/31<sup>(b)</sup> |  | 75 | &nbsp;&nbsp; 70573 |
| Mauser Packaging Solutions Holding Co.<sup>(b)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp; 7.88%, 04/15/27<sup>(f)</sup> |  | 1850 | &nbsp;&nbsp; 1868135 |
| &nbsp;&nbsp;&nbsp; 9.25%, 04/15/27 |  | 148 | &nbsp;&nbsp; 148339 |
| OI European Group BV, 6.25%, 05/15/28<sup>(b)</sup> | EUR | 100 | &nbsp;&nbsp; 121172 |
| &nbsp;&nbsp;&nbsp; Owens-Brockway Glass Container, Inc., 6.63%, <br> 05/13/27<sup>(b)</sup><br>| USD | 27 | &nbsp;&nbsp; 26950 |
| Sealed Air Corp.<sup>(b)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp; 4.00%, 12/01/27 |  | 38 | &nbsp;&nbsp; 37293 |
| &nbsp;&nbsp;&nbsp; 5.00%, 04/15/29 |  | 38 | &nbsp;&nbsp; 37788 |
| &nbsp;&nbsp;&nbsp; Sealed Air Corp./Sealed Air Corp. U.S., 7.25%, <br> 02/15/31<sup>(b)</sup><br>|  | 11 | &nbsp;&nbsp; 11542 |
| Silgan Holdings, Inc., 02/15/31<sup>(b)(g)</sup> | EUR | 180 | &nbsp;&nbsp; 212182 |
| Trivium Packaging Finance BV, 6.63%, 07/15/30<sup>(d)</sup> |  | 100 | &nbsp;&nbsp; 123418 |
|  |  |  | &nbsp;&nbsp; 7563859 |
| **Distributors**<sup>(b)</sup> **— 0.0%** | **Distributors**<sup>(b)</sup> **— 0.0%** | **Distributors**<sup>(b)</sup> **— 0.0%** | **Distributors**<sup>(b)</sup> **— 0.0%** |
| Gates Corp./DE, 6.88%, 07/01/29 | USD | 90 | &nbsp;&nbsp; 93388 |
| Resideo Funding, Inc. |  |  |  |
| &nbsp;&nbsp;&nbsp; 4.00%, 09/01/29 |  | 42 | &nbsp;&nbsp; 40119 |
| &nbsp;&nbsp;&nbsp; 6.50%, 07/15/32<sup>(f)</sup> |  | 105 | &nbsp;&nbsp; 107615 |
|  |  |  | &nbsp;&nbsp; 241122 |
| **Diversified REITs — 1.3%** | **Diversified REITs — 1.3%** | **Diversified REITs — 1.3%** | **Diversified REITs — 1.3%** |
| American Tower Corp., 2.90%, 01/15/30<sup>(f)</sup> |  | 2500 | &nbsp;&nbsp; 2356352 |
| Crown Castle, Inc. |  |  |  |
| &nbsp;&nbsp;&nbsp; 4.90%, 09/01/29 |  | 750 | &nbsp;&nbsp; 760774 |
| &nbsp;&nbsp;&nbsp; 2.10%, 04/01/31 |  | 1000 | &nbsp;&nbsp; 875518 |
| &nbsp;&nbsp;&nbsp; 2.90%, 04/01/41 |  | 350 | &nbsp;&nbsp; 256097 |
| Digital Realty Trust LP, 1.88%, 11/15/29<sup>(b)(j)</sup> |  | 45 | &nbsp;&nbsp; 47250 |
| Equinix, Inc., 2.50%, 05/15/31 |  | 500 | &nbsp;&nbsp; 450655 |
| ERP Operating LP, 4.50%, 07/01/44<sup>(f)</sup> |  | 1155 | &nbsp;&nbsp; 1025479 |
| &nbsp;&nbsp;&nbsp; Iron Mountain Information Management Services, Inc., <br> 5.00%, 07/15/32<sup>(b)</sup><br>|  | 54 | &nbsp;&nbsp; 52031 |

---

Schedule of Investments

------

Schedule of Investments (unaudited)(continued)

September 30, 2025

**BlackRock Core Bond Trust (BHK)** 

**(Percentages shown are based on Net Assets)**

---

| | | | |
|:---|:---|:---|:---|
| *Security* |  | *Par*<br> *(000)*<br>| *Value* |
| **Diversified REITs (continued)** | **Diversified REITs (continued)** | **Diversified REITs (continued)** | **Diversified REITs (continued)** |
| Iron Mountain, Inc. |  |  |  |
| &nbsp;&nbsp;&nbsp; 5.25%, 07/15/30<sup>(b)</sup> | USD | 13 | &nbsp;&nbsp; $12856 |
| &nbsp;&nbsp;&nbsp; 5.63%, 07/15/32<sup>(b)</sup> |  | 62 | &nbsp;&nbsp; 61669 |
| &nbsp;&nbsp;&nbsp; 6.25%, 01/15/33<sup>(b)</sup> |  | 16 | &nbsp;&nbsp; 16320 |
| &nbsp;&nbsp;&nbsp; 4.75%, 01/15/34<sup>(b)</sup> | EUR | 120 | &nbsp;&nbsp; 141197 |
| &nbsp;&nbsp;&nbsp; 4.75%, 01/15/34<sup>(d)</sup> |  | 100 | &nbsp;&nbsp; 117664 |
| Millrose Properties, Inc.<sup>(b)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp; 6.38%, 08/01/30 | USD | 324 | &nbsp;&nbsp; 329505 |
| &nbsp;&nbsp;&nbsp; 6.25%, 09/15/32 |  | 166 | &nbsp;&nbsp; 166434 |
| Prologis LP, 4.63%, 01/15/33<sup>(f)</sup> |  | 1000 | &nbsp;&nbsp; 1006461 |
| SBA Communications Corp., 3.13%, 02/01/29<sup>(f)</sup> |  | 198 | &nbsp;&nbsp; 185192 |
| Trust Fibra Uno, 7.70%, 01/23/32<sup>(d)</sup> |  | 200 | &nbsp;&nbsp; 216800 |
| &nbsp;&nbsp;&nbsp; Uniti Group LP/Uniti Group Finance 2019, Inc./CSL <br> Capital LLC, 10.50%, 02/15/28<sup>(b)</sup><br>|  | 1146 | &nbsp;&nbsp; 1206967 |
|  |  |  | &nbsp;&nbsp; 9285221 |
| **Diversified Telecommunication Services — 2.9%** | **Diversified Telecommunication Services — 2.9%** | **Diversified Telecommunication Services — 2.9%** | **Diversified Telecommunication Services — 2.9%** |
| Altice Financing SA, 5.75%, 08/15/29<sup>(b)</sup> |  | 200 | &nbsp;&nbsp; 150500 |
| AT&T, Inc. |  |  |  |
| &nbsp;&nbsp;&nbsp; 5.40%, 02/15/34 |  | 560 | &nbsp;&nbsp; 582033 |
| &nbsp;&nbsp;&nbsp; 6.00%, 08/15/40 |  | 520 | &nbsp;&nbsp; 545748 |
| &nbsp;&nbsp;&nbsp; 6.38%, 03/01/41 |  | 1200 | &nbsp;&nbsp; 1295165 |
| &nbsp;&nbsp;&nbsp; 5.45%, 03/01/47 |  | 1500 | &nbsp;&nbsp; 1450273 |
| &nbsp;&nbsp;&nbsp; 3.50%, 09/15/53 |  | 500 | &nbsp;&nbsp; 345851 |
| &nbsp;&nbsp;&nbsp; Connect Finco SARL/Connect U.S. Finco LLC, 9.00%, <br> 09/15/29<sup>(b)</sup><br>|  | 220 | &nbsp;&nbsp; 231309 |
| Corning, Inc., 4.38%, 11/15/57 |  | 2000 | &nbsp;&nbsp; 1656704 |
| EchoStar Corp. |  |  |  |
| &nbsp;&nbsp;&nbsp; (6.75% PIK), 6.75%, 11/30/30<sup>(h)</sup> |  | 1279 | &nbsp;&nbsp; 1318416 |
| &nbsp;&nbsp;&nbsp; 10.75%, 11/30/29 |  | 704 | &nbsp;&nbsp; 773973 |
| eircom Finance DAC, 5.00%, 04/30/31<sup>(d)</sup> | EUR | 100 | &nbsp;&nbsp; 120255 |
| Eutelsat SA, 9.75%, 04/13/29<sup>(d)</sup> |  | 100 | &nbsp;&nbsp; 126753 |
| Fibercop SpA |  |  |  |
| &nbsp;&nbsp;&nbsp; 4.75%, 06/30/30<sup>(d)</sup> |  | 100 | &nbsp;&nbsp; 119253 |
| &nbsp;&nbsp;&nbsp; 5.13%, 06/30/32<sup>(d)</sup> |  | 100 | &nbsp;&nbsp; 119332 |
| &nbsp;&nbsp;&nbsp; 6.00%, 09/30/34<sup>(b)</sup> | USD | 200 | &nbsp;&nbsp; 190632 |
| Frontier Communications Holdings LLC |  |  |  |
| &nbsp;&nbsp;&nbsp; 5.00%, 05/01/28<sup>(b)</sup> |  | 293 | &nbsp;&nbsp; 292341 |
| &nbsp;&nbsp;&nbsp; 6.75%, 05/01/29<sup>(b)</sup> |  | 59 | &nbsp;&nbsp; 59589 |
| &nbsp;&nbsp;&nbsp; 5.88%, 11/01/29 |  | 94 | &nbsp;&nbsp; 94995 |
| &nbsp;&nbsp;&nbsp; 6.00%, 01/15/30<sup>(b)</sup> |  | 130 | &nbsp;&nbsp; 131529 |
| &nbsp;&nbsp;&nbsp; 8.75%, 05/15/30<sup>(b)</sup> |  | 981 | &nbsp;&nbsp; 1024797 |
| &nbsp;&nbsp;&nbsp; 8.63%, 03/15/31<sup>(b)</sup> |  | 198 | &nbsp;&nbsp; 208744 |
| Kaixo Bondco Telecom SA, 5.13%, 09/30/29<sup>(d)</sup> | EUR | 100 | &nbsp;&nbsp; 118836 |
| Level 3 Financing, Inc.<sup>(b)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp; 3.63%, 01/15/29 | USD | 33 | &nbsp;&nbsp; 28560 |
| &nbsp;&nbsp;&nbsp; 4.88%, 06/15/29 |  | 650 | &nbsp;&nbsp; 611535 |
| &nbsp;&nbsp;&nbsp; 4.50%, 04/01/30 |  | 281 | &nbsp;&nbsp; 256782 |
| &nbsp;&nbsp;&nbsp; 3.88%, 10/15/30 |  | 60 | &nbsp;&nbsp; 52386 |
| &nbsp;&nbsp;&nbsp; 4.00%, 04/15/31 |  | 31 | &nbsp;&nbsp; 26591 |
| &nbsp;&nbsp;&nbsp; 6.88%, 06/30/33 |  | 1028 | &nbsp;&nbsp; 1047547 |
| &nbsp;&nbsp;&nbsp; 7.00%, 03/31/34 |  | 1107 | &nbsp;&nbsp; 1126161 |
| Lorca Telecom Bondco SA, 5.75%, 04/30/29<sup>(d)</sup> | EUR | 100 | &nbsp;&nbsp; 122185 |
| Lumen Technologies, Inc.<sup>(b)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp; 4.13%, 04/15/30 | USD | 139 | &nbsp;&nbsp; 136457 |
| &nbsp;&nbsp;&nbsp; 10.00%, 10/15/32 |  | 116 | &nbsp;&nbsp; 117168 |
| Maya SAS/Paris France |  |  |  |
| &nbsp;&nbsp;&nbsp; 5.38%, 04/15/30<sup>(d)</sup> | EUR | 100 | &nbsp;&nbsp; 119913 |
| &nbsp;&nbsp;&nbsp; 8.50%, 04/15/31<sup>(b)</sup> | USD | 200 | &nbsp;&nbsp; 214499 |
| &nbsp;&nbsp;&nbsp; 7.00%, 04/15/32<sup>(b)</sup> |  | 322 | &nbsp;&nbsp; 328377 |
| Sable International Finance Ltd., 7.13%, 10/15/32<sup>(b)</sup> |  | 260 | &nbsp;&nbsp; 263387 |

---

---

| | | | |
|:---|:---|:---|:---|
| *Security* |  | *Par*<br> *(000)*<br>| *Value* |
| **Diversified Telecommunication Services (continued)** | **Diversified Telecommunication Services (continued)** | **Diversified Telecommunication Services (continued)** | **Diversified Telecommunication Services (continued)** |
| SoftBank Group Corp.<sup>(d)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp; 2.88%, 01/06/27 | EUR | 100 | &nbsp;&nbsp; $116876 |
| &nbsp;&nbsp;&nbsp; 3.88%, 07/06/32 |  | 100 | &nbsp;&nbsp; 111751 |
| Telecom Italia Capital SA, 7.72%, 06/04/38 | USD | 201 | &nbsp;&nbsp; 222666 |
| Verizon Communications, Inc., 3.85%, 11/01/42<sup>(f)</sup> |  | 5000 | &nbsp;&nbsp; 4056830 |
| Windstream Services LLC, 10/15/33<sup>(b)(g)</sup> |  | 211 | &nbsp;&nbsp; 210943 |
| &nbsp;&nbsp;&nbsp; Windstream Services LLC/Windstream Escrow Finance <br> Corp., 8.25%, 10/01/31<sup>(b)</sup><br>|  | 699 | &nbsp;&nbsp; 724078 |
| Zayo Group Holdings, Inc.<sup>(b)(g)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp; 03/09/30 |  | 385 | &nbsp;&nbsp; 368431 |
| &nbsp;&nbsp;&nbsp; 09/09/30 |  | 215 | &nbsp;&nbsp; 203779 |
|  |  |  | &nbsp;&nbsp; 21423930 |
| **Electric Utilities — 3.8%** | **Electric Utilities — 3.8%** | **Electric Utilities — 3.8%** | **Electric Utilities — 3.8%** |
| &nbsp;&nbsp;&nbsp; AES Andes SA, (5-year CMT + 3.84%), 8.15%, <br> 06/10/55<sup>(a)(b)</sup><br>|  | 200 | &nbsp;&nbsp; 211522 |
| Alpha Generation LLC, 6.75%, 10/15/32<sup>(b)</sup> |  | 181 | &nbsp;&nbsp; 186845 |
| American Electric Power Co., Inc., 5.63%, 03/01/33<sup>(f)</sup> |  | 3000 | &nbsp;&nbsp; 3153583 |
| Baltimore Gas and Electric Co. |  |  |  |
| &nbsp;&nbsp;&nbsp; 3.50%, 08/15/46 |  | 800 | &nbsp;&nbsp; 604191 |
| &nbsp;&nbsp;&nbsp; 3.75%, 08/15/47 |  | 500 | &nbsp;&nbsp; 386759 |
| &nbsp;&nbsp;&nbsp; California Buyer Ltd./Atlantica Sustainable Infrastructure <br> PLC, 6.38%, 02/15/32<sup>(b)</sup><br>|  | 150 | &nbsp;&nbsp; 153740 |
| &nbsp;&nbsp;&nbsp; CenterPoint Energy Houston Electric LLC, Series AI, <br> 4.45%, 10/01/32<br>|  | 750 | &nbsp;&nbsp; 745724 |
| Cleveland Electric Illuminating Co., 5.95%, 12/15/36 |  | 434 | &nbsp;&nbsp; 461659 |
| ContourGlobal Power Holdings SA, 6.75%, 02/28/30<sup>(b)</sup> |  | 200 | &nbsp;&nbsp; 207748 |
| Duke Energy Carolinas LLC, 6.10%, 06/01/37 |  | 640 | &nbsp;&nbsp; 687700 |
| Duke Energy Florida LLC, 5.65%, 04/01/40 |  | 770 | &nbsp;&nbsp; 803399 |
| E.ON International Finance BV, 6.65%, 04/30/38<sup>(b)</sup> |  | 2000 | &nbsp;&nbsp; 2218363 |
| &nbsp;&nbsp;&nbsp; Edison International, Series A, (5-year CMT + 4.70%), <br> 5.38%<sup>(a)(i)</sup><br>|  | 3000 | &nbsp;&nbsp; 2912610 |
| Electricite de France SA, 5.60%, 01/27/40<sup>(b)</sup> |  | 2800 | &nbsp;&nbsp; 2822021 |
| Eversource Energy, 2.55%, 03/15/31 |  | 350 | &nbsp;&nbsp; 315575 |
| Minejesa Capital BV, 5.63%, 08/10/37<sup>(b)</sup> |  | 200 | &nbsp;&nbsp; 198800 |
| Mong Duong Finance Holdings BV, 5.13%, 05/07/29<sup>(d)</sup> |  | 390 | &nbsp;&nbsp; 385907 |
| Oncor Electric Delivery Co. LLC |  |  |  |
| &nbsp;&nbsp;&nbsp; 4.15%, 06/01/32 |  | 1000 | &nbsp;&nbsp; 977920 |
| &nbsp;&nbsp;&nbsp; 4.55%, 09/15/32 |  | 1000 | &nbsp;&nbsp; 998457 |
| Pike Corp., 8.63%, 01/31/31<sup>(b)</sup> |  | 57 | &nbsp;&nbsp; 61147 |
| San Diego Gas & Electric Co. |  |  |  |
| &nbsp;&nbsp;&nbsp; 4.95%, 08/15/28 |  | 1565 | &nbsp;&nbsp; 1603008 |
| &nbsp;&nbsp;&nbsp; Series VVV, 1.70%, 10/01/30 |  | 750 | &nbsp;&nbsp; 661776 |
| SCC Power PLC<sup>(b)(h)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp; (4.00% Cash and 4.00% PIK), 8.00%, 12/31/28 |  | 130 | &nbsp;&nbsp; 78318 |
| &nbsp;&nbsp;&nbsp; (4.00% Cash or 4.00% PIK), 4.00%, 05/17/32 |  | 140 | &nbsp;&nbsp; 34358 |
| &nbsp;&nbsp;&nbsp; Southern California Edison Co., Series 2005-E, 5.35%, <br> 07/15/35<br>|  | 1300 | &nbsp;&nbsp; 1302211 |
| &nbsp;&nbsp;&nbsp; Star Energy Geothermal Wayang Windu Ltd., 6.75%, <br> 04/24/33<sup>(d)</sup><br>|  | 178 | &nbsp;&nbsp; 183865 |
| Virginia Electric and Power Co., 6.35%, 11/30/37 |  | 3920 | &nbsp;&nbsp; 4314499 |
| Vistra Operations Co. LLC<sup>(b)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp; 7.75%, 10/15/31 |  | 119 | &nbsp;&nbsp; 125925 |
| &nbsp;&nbsp;&nbsp; 6.88%, 04/15/32 |  | 220 | &nbsp;&nbsp; 230093 |
| XPLR Infrastructure Operating Partners LP<sup>(b)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp; 3.88%, 10/15/26 |  | 41 | &nbsp;&nbsp; 40411 |
| &nbsp;&nbsp;&nbsp; 8.38%, 01/15/31<sup>(f)</sup> |  | 461 | &nbsp;&nbsp; 483128 |
|  |  |  | &nbsp;&nbsp; 27551262 |
| **Electronic Equipment, Instruments & Components**<sup>(b)</sup> **— 0.1%** | **Electronic Equipment, Instruments & Components**<sup>(b)</sup> **— 0.1%** | **Electronic Equipment, Instruments & Components**<sup>(b)</sup> **— 0.1%** | **Electronic Equipment, Instruments & Components**<sup>(b)</sup> **— 0.1%** |
| Coherent Corp., 5.00%, 12/15/29<sup>(f)</sup> |  | 121 | &nbsp;&nbsp; 119331 |
| Imola Merger Corp., 4.75%, 05/15/29 |  | 40 | &nbsp;&nbsp; 38905 |

---

------

Schedule of Investments (unaudited)(continued)

September 30, 2025

**BlackRock Core Bond Trust (BHK)** 

**(Percentages shown are based on Net Assets)**

---

| | | | |
|:---|:---|:---|:---|
| *Security* |  | *Par*<br> *(000)*<br>| *Value* |
| **Electronic Equipment, Instruments & Components (continued)** | **Electronic Equipment, Instruments & Components (continued)** | **Electronic Equipment, Instruments & Components (continued)** | **Electronic Equipment, Instruments & Components (continued)** |
| Sensata Technologies, Inc., 3.75%, 02/15/31 | USD | 529 | &nbsp;&nbsp; $488203 |
| WESCO Distribution, Inc. |  |  |  |
| &nbsp;&nbsp;&nbsp; 6.63%, 03/15/32 |  | 89 | &nbsp;&nbsp; 92490 |
| &nbsp;&nbsp;&nbsp; 6.38%, 03/15/33 |  | 50 | &nbsp;&nbsp; 51831 |
| Zebra Technologies Corp., 6.50%, 06/01/32 |  | 77 | &nbsp;&nbsp; 79085 |
|  |  |  | &nbsp;&nbsp; 869845 |
| **Energy Equipment & Services — 0.4%** | **Energy Equipment & Services — 0.4%** | **Energy Equipment & Services — 0.4%** | **Energy Equipment & Services — 0.4%** |
| &nbsp;&nbsp;&nbsp; Archrock Partners LP/Archrock Partners Finance <br> Corp.<sup>(b)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp; 6.88%, 04/01/27 |  | 79 | &nbsp;&nbsp; 79004 |
| &nbsp;&nbsp;&nbsp; 6.63%, 09/01/32 |  | 157 | &nbsp;&nbsp; 161048 |
| Halliburton Co., 4.75%, 08/01/43 |  | 500 | &nbsp;&nbsp; 447469 |
| Kodiak Gas Services LLC<sup>(b)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp; 7.25%, 02/15/29 |  | 385 | &nbsp;&nbsp; 399501 |
| &nbsp;&nbsp;&nbsp; 6.50%, 10/01/33 |  | 191 | &nbsp;&nbsp; 194472 |
| &nbsp;&nbsp;&nbsp; 6.75%, 10/01/35 |  | 143 | &nbsp;&nbsp; 146826 |
| Oceaneering International, Inc., 6.00%, 02/01/28 |  | 45 | &nbsp;&nbsp; 45556 |
| OEG Finance PLC, 7.25%, 09/27/29<sup>(d)</sup> | EUR | 100 | &nbsp;&nbsp; 122709 |
| Star Holding LLC, 8.75%, 08/01/31<sup>(b)</sup> | USD | 138 | &nbsp;&nbsp; 136924 |
| Tidewater, Inc., 9.13%, 07/15/30<sup>(b)</sup> |  | 109 | &nbsp;&nbsp; 116897 |
| &nbsp;&nbsp;&nbsp; USA Compression Partners LP/USA Compression <br> Finance Corp.<sup>(b)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp; 7.13%, 03/15/29 |  | 134 | &nbsp;&nbsp; 138197 |
| &nbsp;&nbsp;&nbsp; 6.25%, 10/01/33 |  | 334 | &nbsp;&nbsp; 335278 |
| Weatherford International Ltd.<sup>(b)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp; 8.63%, 04/30/30 |  | 329 | &nbsp;&nbsp; 336321 |
| &nbsp;&nbsp;&nbsp; 10/15/33<sup>(g)</sup> |  | 300 | &nbsp;&nbsp; 300209 |
|  |  |  | &nbsp;&nbsp; 2960411 |
| **Entertainment**<sup>(b)</sup> **— 0.1%** | **Entertainment**<sup>(b)</sup> **— 0.1%** | **Entertainment**<sup>(b)</sup> **— 0.1%** | **Entertainment**<sup>(b)</sup> **— 0.1%** |
| Flutter Treasury DAC, 5.88%, 06/04/31 |  | 464 | &nbsp;&nbsp; 470969 |
| &nbsp;&nbsp;&nbsp; Scientific Games Holdings LP/Scientific Games <br> U.S. FinCo, Inc., 6.63%, 03/01/30<br>|  | 157 | &nbsp;&nbsp; 145965 |
|  |  |  | &nbsp;&nbsp; 616934 |
| **Environmental, Maintenance & Security Service — 0.3%** | **Environmental, Maintenance & Security Service — 0.3%** | **Environmental, Maintenance & Security Service — 0.3%** | **Environmental, Maintenance & Security Service — 0.3%** |
| Clean Harbors, Inc., 6.38%, 02/01/31<sup>(b)</sup> |  | 6 | &nbsp;&nbsp; 6144 |
| GFL Environmental, Inc.<sup>(b)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp; 4.00%, 08/01/28 |  | 269 | &nbsp;&nbsp; 262619 |
| &nbsp;&nbsp;&nbsp; 4.75%, 06/15/29 |  | 148 | &nbsp;&nbsp; 145975 |
| &nbsp;&nbsp;&nbsp; 6.75%, 01/15/31 |  | 111 | &nbsp;&nbsp; 116153 |
| Luna 1.5 SARL<sup>(h)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp; (10.50% PIK), 10.50%, 07/01/32<sup>(b)</sup> | EUR | 135 | &nbsp;&nbsp; 164246 |
| &nbsp;&nbsp;&nbsp; (10.50% PIK), 10.50%, 07/01/32<sup>(d)</sup> |  | 100 | &nbsp;&nbsp; 121664 |
| Madison IAQ LLC<sup>(b)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp; 4.13%, 06/30/28 | USD | 172 | &nbsp;&nbsp; 167865 |
| &nbsp;&nbsp;&nbsp; 5.88%, 06/30/29<sup>(f)</sup> |  | 351 | &nbsp;&nbsp; 346753 |
| Reworld Holding Corp., 4.88%, 12/01/29<sup>(b)</sup> |  | 92 | &nbsp;&nbsp; 86523 |
| Waste Management, Inc., 2.95%, 06/01/41 |  | 350 | &nbsp;&nbsp; 265460 |
| Waste Pro USA, Inc., 7.00%, 02/01/33<sup>(b)</sup> |  | 631 | &nbsp;&nbsp; 653588 |
| Wrangler Holdco Corp., 6.63%, 04/01/32<sup>(b)</sup> |  | 45 | &nbsp;&nbsp; 46922 |
|  |  |  | &nbsp;&nbsp; 2383912 |
| **Financial Services — 7.7%** | **Financial Services — 7.7%** | **Financial Services — 7.7%** | **Financial Services — 7.7%** |
| &nbsp;&nbsp;&nbsp; Ally Financial, Inc., Series B, (5-year CMT + 3.87%), <br> 4.70%<sup>(a)(i)</sup><br>|  | 2500 | &nbsp;&nbsp; 2434819 |
| Azorra Finance Ltd.<sup>(b)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp; 7.75%, 04/15/30 |  | 92 | &nbsp;&nbsp; 96485 |
| &nbsp;&nbsp;&nbsp; 7.25%, 01/15/31 |  | 145 | &nbsp;&nbsp; 150987 |
| Bank of America Corp.<sup>(a)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp; (1-day SOFR + 1.00%), 5.16%, 01/24/31<sup>(f)</sup> |  | 500 | &nbsp;&nbsp; 516043 |
| &nbsp;&nbsp;&nbsp; (1-day SOFR + 1.64%), 5.46%, 05/09/36 |  | 2000 | &nbsp;&nbsp; 2085088 |

---

---

| | | | |
|:---|:---|:---|:---|
| *Security* |  | *Par*<br> *(000)*<br>| *Value* |
| **Financial Services (continued)** | **Financial Services (continued)** | **Financial Services (continued)** | **Financial Services (continued)** |
| Bank of America Corp.<sup>(a)</sup> (continued) |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (3-mo. CME Term SOFR + 1.57%), 4.27%, <br> 07/23/29<sup>(f)</sup><br>| USD | 4000 | &nbsp;&nbsp; $4013842 |
| &nbsp;&nbsp;&nbsp; Barclays PLC, (1-year CMT + 1.05%), 2.28%, <br> 11/24/27<sup>(a)(f)</sup><br>|  | 3000 | &nbsp;&nbsp; 2933288 |
| Citigroup, Inc.<sup>(a)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp; (1-day SOFR + 1.46%), 4.95%, 05/07/31 |  | 2000 | &nbsp;&nbsp; 2038003 |
| &nbsp;&nbsp;&nbsp; (1-day SOFR + 1.94%), 3.79%, 03/17/33 |  | 2000 | &nbsp;&nbsp; 1899966 |
| &nbsp;&nbsp;&nbsp; (1-day SOFR + 2.34%), 6.27%, 11/17/33<sup>(f)</sup> |  | 1567 | &nbsp;&nbsp; 1710170 |
| &nbsp;&nbsp;&nbsp; CrossCountry Intermediate HoldCo LLC, 6.50%, <br> 10/01/30<sup>(b)</sup><br>|  | 148 | &nbsp;&nbsp; 148545 |
| &nbsp;&nbsp;&nbsp; Deutsche Bank AG/New York, (1-day SOFR + 3.18%), <br> 6.72%, 01/18/29<sup>(a)(f)</sup><br>|  | 850 | &nbsp;&nbsp; 892618 |
| Freedom Mortgage Holdings LLC<sup>(b)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp; 9.25%, 02/01/29 |  | 98 | &nbsp;&nbsp; 103113 |
| &nbsp;&nbsp;&nbsp; 9.13%, 05/15/31 |  | 162 | &nbsp;&nbsp; 172295 |
| &nbsp;&nbsp;&nbsp; 8.38%, 04/01/32 |  | 103 | &nbsp;&nbsp; 107959 |
| GGAM Finance Ltd.<sup>(b)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp; 7.75%, 05/15/26 |  | 30 | &nbsp;&nbsp; 30075 |
| &nbsp;&nbsp;&nbsp; 8.00%, 06/15/28 |  | 113 | &nbsp;&nbsp; 119605 |
| &nbsp;&nbsp;&nbsp; 6.88%, 04/15/29 |  | 86 | &nbsp;&nbsp; 89183 |
| &nbsp;&nbsp;&nbsp; 5.88%, 03/15/30 |  | 72 | &nbsp;&nbsp; 72990 |
| Global Aircraft Leasing Co. Ltd., 8.75%, 09/01/27<sup>(b)</sup> |  | 186 | &nbsp;&nbsp; 191788 |
| Goldman Sachs Group, Inc.<sup>(a)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp; (1-day SOFR + 1.55%), 5.33%, 07/23/35 |  | 2000 | &nbsp;&nbsp; 2058888 |
| &nbsp;&nbsp;&nbsp; (1-day SOFR + 1.58%), 5.22%, 04/23/31 |  | 2000 | &nbsp;&nbsp; 2068211 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (3-mo. CME Term SOFR + 1.56%), 4.22%, <br> 05/01/29<sup>(f)</sup><br>|  | 4000 | &nbsp;&nbsp; 4004667 |
| HSBC Holdings PLC, 6.10%, 01/14/42 |  | 610 | &nbsp;&nbsp; 663934 |
| &nbsp;&nbsp;&nbsp; Jefferies Finance LLC/JFIN Co-Issuer Corp., 5.00%, <br> 08/15/28<sup>(b)</sup><br>|  | 220 | &nbsp;&nbsp; 212561 |
| JPMorgan Chase & Co.<sup>(a)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp; (1-day SOFR + 1.13%), 5.00%, 07/22/30 |  | 3000 | &nbsp;&nbsp; 3077230 |
| &nbsp;&nbsp;&nbsp; (1-day SOFR + 1.18%), 2.55%, 11/08/32 |  | 1000 | &nbsp;&nbsp; 896920 |
| &nbsp;&nbsp;&nbsp; (1-day SOFR + 1.44%), 5.10%, 04/22/31 |  | 3000 | &nbsp;&nbsp; 3099360 |
| &nbsp;&nbsp;&nbsp; (1-day SOFR + 1.62%), 5.34%, 01/23/35 |  | 540 | &nbsp;&nbsp; 561263 |
| &nbsp;&nbsp;&nbsp; (1-day SOFR + 2.08%), 4.91%, 07/25/33 |  | 1381 | &nbsp;&nbsp; 1408215 |
| &nbsp;&nbsp;&nbsp; (3-mo. CME Term SOFR + 1.42%), 3.70%, 05/06/30 |  | 1000 | &nbsp;&nbsp; 982800 |
| &nbsp;&nbsp;&nbsp; (3-mo. CME Term SOFR + 2.46%), 3.11%, 04/22/41 |  | 800 | &nbsp;&nbsp; 628693 |
| Midcap Financial Issuer Trust<sup>(b)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp; 6.50%, 05/01/28 |  | 200 | &nbsp;&nbsp; 198630 |
| &nbsp;&nbsp;&nbsp; 5.63%, 01/15/30 |  | 200 | &nbsp;&nbsp; 188582 |
| Morgan Stanley<sup>(a)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp; (1-day SOFR + 1.26%), 5.66%, 04/18/30 |  | 3000 | &nbsp;&nbsp; 3132644 |
| &nbsp;&nbsp;&nbsp; (1-day SOFR + 1.51%), 5.19%, 04/17/31 |  | 3000 | &nbsp;&nbsp; 3097778 |
| &nbsp;&nbsp;&nbsp; (1-day SOFR + 1.73%), 5.12%, 02/01/29<sup>(f)</sup> |  | 3000 | &nbsp;&nbsp; 3064644 |
| &nbsp;&nbsp;&nbsp; (1-day SOFR + 1.73%), 5.47%, 01/18/35 |  | 600 | &nbsp;&nbsp; 624927 |
| &nbsp;&nbsp;&nbsp; (1-day SOFR + 1.88%), 5.42%, 07/21/34 |  | 735 | &nbsp;&nbsp; 765797 |
| Nationstar Mortgage Holdings, Inc.<sup>(b)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp; 6.50%, 08/01/29 |  | 174 | &nbsp;&nbsp; 178505 |
| &nbsp;&nbsp;&nbsp; 5.13%, 12/15/30 |  | 87 | &nbsp;&nbsp; 87766 |
| &nbsp;&nbsp;&nbsp; 5.75%, 11/15/31 |  | 71 | &nbsp;&nbsp; 71746 |
| &nbsp;&nbsp;&nbsp; 7.13%, 02/01/32<sup>(f)</sup> |  | 472 | &nbsp;&nbsp; 492675 |
| &nbsp;&nbsp;&nbsp; NatWest Group PLC, (1-year CMT + 2.27%), 5.52%, <br> 09/30/28<sup>(a)</sup><br>|  | 1000 | &nbsp;&nbsp; 1024835 |
| PennyMac Financial Services, Inc.<sup>(b)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp; 7.88%, 12/15/29 |  | 139 | &nbsp;&nbsp; 147520 |
| &nbsp;&nbsp;&nbsp; 7.13%, 11/15/30 |  | 72 | &nbsp;&nbsp; 74971 |
| &nbsp;&nbsp;&nbsp; 6.88%, 05/15/32 |  | 217 | &nbsp;&nbsp; 224855 |
| &nbsp;&nbsp;&nbsp; 6.75%, 02/15/34 |  | 97 | &nbsp;&nbsp; 98948 |
| Phoenix Aviation Capital Ltd., 9.25%, 07/15/30<sup>(b)</sup> |  | 313 | &nbsp;&nbsp; 333005 |
| PRA Group Europe Holding II SARL, 6.25%, 09/30/32<sup>(d)</sup> | EUR | 100 | &nbsp;&nbsp; 115673 |

---

Schedule of Investments

------

Schedule of Investments (unaudited)(continued)

September 30, 2025

**BlackRock Core Bond Trust (BHK)** 

**(Percentages shown are based on Net Assets)**

---

| | | | |
|:---|:---|:---|:---|
| *Security* |  | *Par*<br> *(000)*<br>| *Value* |
| **Financial Services (continued)** | **Financial Services (continued)** | **Financial Services (continued)** | **Financial Services (continued)** |
| Rocket Cos., Inc.<sup>(b)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp; 6.13%, 08/01/30 | USD | 759 | &nbsp;&nbsp; $778977 |
| &nbsp;&nbsp;&nbsp; 6.38%, 08/01/33 |  | 668 | &nbsp;&nbsp; 689452 |
| &nbsp;&nbsp;&nbsp; Rocket Mortgage LLC/Rocket Mortgage Co-Issuer, <br> Inc.<sup>(b)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp; 2.88%, 10/15/26<sup>(f)</sup> |  | 200 | &nbsp;&nbsp; 195906 |
| &nbsp;&nbsp;&nbsp; 3.88%, 03/01/31 |  | 16 | &nbsp;&nbsp; 14942 |
| &nbsp;&nbsp;&nbsp; 4.00%, 10/15/33 |  | 19 | &nbsp;&nbsp; 17352 |
| UBS AG/Stamford CT, 5.00%, 07/09/27 |  | 900 | &nbsp;&nbsp; 915145 |
| UWM Holdings LLC<sup>(b)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp; 6.63%, 02/01/30 |  | 154 | &nbsp;&nbsp; 156662 |
| &nbsp;&nbsp;&nbsp; 6.25%, 03/15/31 |  | 106 | &nbsp;&nbsp; 105495 |
|  |  |  | &nbsp;&nbsp; 56267036 |
| **Food Products — 0.5%** | **Food Products — 0.5%** | **Food Products — 0.5%** | **Food Products — 0.5%** |
| Aramark Services, Inc., 5.00%, 02/01/28<sup>(b)</sup> |  | 122 | &nbsp;&nbsp; 121425 |
| B&G Foods, Inc., 8.00%, 09/15/28<sup>(b)</sup> |  | 48 | &nbsp;&nbsp; 46508 |
| &nbsp;&nbsp;&nbsp; Chobani Holdco II LLC, (8.75% in Cash or 9.5% in PIK), <br> 8.75%, 10/01/29<sup>(b)(h)</sup><br>|  | 607 | &nbsp;&nbsp; 643751 |
| Chobani LLC/Chobani Finance Corp., Inc.<sup>(b)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp; 4.63%, 11/15/28 |  | 345 | &nbsp;&nbsp; 341147 |
| &nbsp;&nbsp;&nbsp; 7.63%, 07/01/29 |  | 934 | &nbsp;&nbsp; 973926 |
| Darling Global Finance BV |  |  |  |
| &nbsp;&nbsp;&nbsp; 4.50%, 07/15/32<sup>(d)</sup> | EUR | 100 | &nbsp;&nbsp; 118535 |
| &nbsp;&nbsp;&nbsp; 4.50%, 07/15/32<sup>(b)</sup> |  | 100 | &nbsp;&nbsp; 118535 |
| Darling Ingredients, Inc., 6.00%, 06/15/30<sup>(b)</sup> | USD | 9 | &nbsp;&nbsp; 9086 |
| Fiesta Purchaser, Inc.<sup>(b)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp; 7.88%, 03/01/31 |  | 15 | &nbsp;&nbsp; 15830 |
| &nbsp;&nbsp;&nbsp; 9.63%, 09/15/32 |  | 48 | &nbsp;&nbsp; 51821 |
| Kraft Heinz Foods Co. |  |  |  |
| &nbsp;&nbsp;&nbsp; 5.00%, 06/04/42 |  | 500 | &nbsp;&nbsp; 461578 |
| &nbsp;&nbsp;&nbsp; 4.38%, 06/01/46 |  | 200 | &nbsp;&nbsp; 166438 |
| Lamb Weston Holdings, Inc.<sup>(b)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp; 4.13%, 01/31/30 |  | 90 | &nbsp;&nbsp; 86420 |
| &nbsp;&nbsp;&nbsp; 4.38%, 01/31/32 |  | 110 | &nbsp;&nbsp; 103963 |
| Post Holdings, Inc.<sup>(b)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp; 4.63%, 04/15/30 |  | 67 | &nbsp;&nbsp; 64589 |
| &nbsp;&nbsp;&nbsp; 4.50%, 09/15/31 |  | 9 | &nbsp;&nbsp; 8408 |
| &nbsp;&nbsp;&nbsp; 6.25%, 02/15/32 |  | 64 | &nbsp;&nbsp; 65797 |
| &nbsp;&nbsp;&nbsp; 6.38%, 03/01/33 |  | 235 | &nbsp;&nbsp; 237188 |
| &nbsp;&nbsp;&nbsp; 6.25%, 10/15/34 |  | 133 | &nbsp;&nbsp; 134107 |
|  |  |  | &nbsp;&nbsp; 3769052 |
| **Ground Transportation — 0.9%** | **Ground Transportation — 0.9%** | **Ground Transportation — 0.9%** | **Ground Transportation — 0.9%** |
| Burlington Northern Santa Fe LLC, 5.05%, 03/01/41 |  | 1890 | &nbsp;&nbsp; 1859316 |
| Genesee & Wyoming, Inc., 6.25%, 04/15/32<sup>(b)</sup> |  | 140 | &nbsp;&nbsp; 142260 |
| Lima Metro Line 2 Finance Ltd., 5.88%, 07/05/34<sup>(b)(f)</sup> |  | 1947 | &nbsp;&nbsp; 2013188 |
| Norfolk Southern Corp., 5.05%, 08/01/30 |  | 1800 | &nbsp;&nbsp; 1866130 |
| Union Pacific Corp. |  |  |  |
| &nbsp;&nbsp;&nbsp; 3.38%, 02/14/42 |  | 350 | &nbsp;&nbsp; 277391 |
| &nbsp;&nbsp;&nbsp; 3.55%, 05/20/61 |  | 800 | &nbsp;&nbsp; 551729 |
| &nbsp;&nbsp;&nbsp; Watco Cos. LLC/Watco Finance Corp., 7.13%, <br> 08/01/32<sup>(b)</sup><br>|  | 124 | &nbsp;&nbsp; 128349 |
|  |  |  | &nbsp;&nbsp; 6838363 |
| **Health Care Equipment & Supplies — 0.4%** | **Health Care Equipment & Supplies — 0.4%** | **Health Care Equipment & Supplies — 0.4%** | **Health Care Equipment & Supplies — 0.4%** |
| Avantor Funding, Inc. |  |  |  |
| &nbsp;&nbsp;&nbsp; 2.63%, 11/01/25<sup>(d)</sup> | EUR | 38 | &nbsp;&nbsp; 45136 |
| &nbsp;&nbsp;&nbsp; 4.63%, 07/15/28<sup>(b)</sup> | USD | 115 | &nbsp;&nbsp; 113121 |
| &nbsp;&nbsp;&nbsp; 3.88%, 11/01/29<sup>(b)</sup> |  | 17 | &nbsp;&nbsp; 16166 |
| Bausch & Lomb Corp., 8.38%, 10/01/28<sup>(b)</sup> |  | 958 | &nbsp;&nbsp; 998416 |
| Insulet Corp., 6.50%, 04/01/33<sup>(b)</sup> |  | 125 | &nbsp;&nbsp; 129954 |

---

---

| | | | |
|:---|:---|:---|:---|
| *Security* |  | *Par*<br> *(000)*<br>| *Value* |
| **Health Care Equipment & Supplies (continued)** | **Health Care Equipment & Supplies (continued)** | **Health Care Equipment & Supplies (continued)** | **Health Care Equipment & Supplies (continued)** |
| Neogen Food Safety Corp., 8.63%, 07/20/30<sup>(b)</sup> | USD | 128 | &nbsp;&nbsp; $133852 |
| Thermo Fisher Scientific, Inc. |  |  |  |
| &nbsp;&nbsp;&nbsp; 5.09%, 08/10/33 |  | 495 | &nbsp;&nbsp; 512885 |
| &nbsp;&nbsp;&nbsp; 2.80%, 10/15/41 |  | 1000 | &nbsp;&nbsp; 738828 |
|  |  |  | &nbsp;&nbsp; 2688358 |
| **Health Care Providers & Services — 2.5%** | **Health Care Providers & Services — 2.5%** | **Health Care Providers & Services — 2.5%** | **Health Care Providers & Services — 2.5%** |
| Acadia Healthcare Co., Inc., 7.38%, 03/15/33<sup>(b)(f)</sup> |  | 64 | &nbsp;&nbsp; 66444 |
| Aetna, Inc., 4.50%, 05/15/42 |  | 575 | &nbsp;&nbsp; 497073 |
| AHP Health Partners, Inc., 5.75%, 07/15/29<sup>(b)</sup> |  | 153 | &nbsp;&nbsp; 150574 |
| CHS/Community Health Systems, Inc.<sup>(b)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp; 6.00%, 01/15/29 |  | 335 | &nbsp;&nbsp; 325164 |
| &nbsp;&nbsp;&nbsp; 5.25%, 05/15/30 |  | 764 | &nbsp;&nbsp; 691148 |
| &nbsp;&nbsp;&nbsp; 4.75%, 02/15/31 |  | 285 | &nbsp;&nbsp; 246453 |
| &nbsp;&nbsp;&nbsp; 10.88%, 01/15/32 |  | 291 | &nbsp;&nbsp; 308197 |
| &nbsp;&nbsp;&nbsp; 9.75%, 01/15/34 |  | 521 | &nbsp;&nbsp; 533765 |
| Concentra Health Services, Inc., 6.88%, 07/15/32<sup>(b)</sup> |  | 274 | &nbsp;&nbsp; 284517 |
| DaVita, Inc.<sup>(b)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp; 6.88%, 09/01/32 |  | 94 | &nbsp;&nbsp; 97105 |
| &nbsp;&nbsp;&nbsp; 6.75%, 07/15/33 |  | 147 | &nbsp;&nbsp; 151586 |
| Elevance Health, Inc., 4.65%, 08/15/44 |  | 1500 | &nbsp;&nbsp; 1330418 |
| Fortrea Holdings, Inc., 7.50%, 07/01/30<sup>(b)</sup> |  | 63 | &nbsp;&nbsp; 59657 |
| HAH Group Holding Co. LLC, 9.75%, 10/01/31<sup>(b)</sup> |  | 84 | &nbsp;&nbsp; 79807 |
| HCA, Inc. |  |  |  |
| &nbsp;&nbsp;&nbsp; 5.00%, 03/01/28 |  | 3000 | &nbsp;&nbsp; 3055208 |
| &nbsp;&nbsp;&nbsp; 5.50%, 06/15/47 |  | 1090 | &nbsp;&nbsp; 1039817 |
| HealthEquity, Inc., 4.50%, 10/01/29<sup>(b)</sup> |  | 170 | &nbsp;&nbsp; 164836 |
| IQVIA, Inc., 6.25%, 06/01/32<sup>(b)</sup> |  | 553 | &nbsp;&nbsp; 568562 |
| LifePoint Health, Inc.<sup>(b)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp; 9.88%, 08/15/30 |  | 94 | &nbsp;&nbsp; 101796 |
| &nbsp;&nbsp;&nbsp; 11.00%, 10/15/30 |  | 441 | &nbsp;&nbsp; 486051 |
| &nbsp;&nbsp;&nbsp; 8.38%, 02/15/32 |  | 109 | &nbsp;&nbsp; 116162 |
| &nbsp;&nbsp;&nbsp; 10.00%, 06/01/32<sup>(f)</sup> |  | 166 | &nbsp;&nbsp; 174293 |
| Medline Borrower LP<sup>(b)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp; 3.88%, 04/01/29 |  | 67 | &nbsp;&nbsp; 64618 |
| &nbsp;&nbsp;&nbsp; 5.25%, 10/01/29<sup>(f)</sup> |  | 828 | &nbsp;&nbsp; 820841 |
| &nbsp;&nbsp;&nbsp; Medline Borrower LP/Medline Co-Issuer, Inc., 6.25%, <br> 04/01/29<sup>(b)</sup><br>|  | 334 | &nbsp;&nbsp; 342485 |
| Molina Healthcare, Inc., 6.25%, 01/15/33<sup>(b)</sup> |  | 32 | &nbsp;&nbsp; 32356 |
| Northwell Healthcare, Inc., 4.26%, 11/01/47 |  | 725 | &nbsp;&nbsp; 594143 |
| Prime Healthcare Services, Inc., 9.38%, 09/01/29<sup>(b)</sup> |  | 63 | &nbsp;&nbsp; 65520 |
| Sotera Health Holdings LLC, 7.38%, 06/01/31<sup>(b)</sup> |  | 105 | &nbsp;&nbsp; 110252 |
| Star Parent, Inc., 9.00%, 10/01/30<sup>(b)</sup> |  | 346 | &nbsp;&nbsp; 365789 |
| Surgery Center Holdings, Inc., 7.25%, 04/15/32<sup>(b)(f)</sup> |  | 448 | &nbsp;&nbsp; 460206 |
| Sutter Health, Series 2025, 5.54%, 08/15/35 |  | 1750 | &nbsp;&nbsp; 1835509 |
| Tenet Healthcare Corp., 6.75%, 05/15/31 |  | 181 | &nbsp;&nbsp; 187386 |
| U.S. Acute Care Solutions LLC, 9.75%, 05/15/29<sup>(b)</sup> |  | 162 | &nbsp;&nbsp; 165885 |
| UnitedHealth Group, Inc. |  |  |  |
| &nbsp;&nbsp;&nbsp; 5.35%, 02/15/33 |  | 340 | &nbsp;&nbsp; 355365 |
| &nbsp;&nbsp;&nbsp; 5.80%, 03/15/36 |  | 1750 | &nbsp;&nbsp; 1874384 |
| &nbsp;&nbsp;&nbsp; 5.70%, 10/15/40 |  | 600 | &nbsp;&nbsp; 621066 |
|  |  |  | &nbsp;&nbsp; 18424438 |
| **Health Care REITs — 0.3%** | **Health Care REITs — 0.3%** | **Health Care REITs — 0.3%** | **Health Care REITs — 0.3%** |
| Alexandria Real Estate Equities, Inc. |  |  |  |
| &nbsp;&nbsp;&nbsp; 4.75%, 04/15/35 |  | 140 | &nbsp;&nbsp; 136725 |
| &nbsp;&nbsp;&nbsp; 4.85%, 04/15/49 |  | 550 | &nbsp;&nbsp; 478115 |
| Diversified Healthcare Trust, 7.25%, 10/15/30<sup>(b)</sup> |  | 80 | &nbsp;&nbsp; 81306 |

---

------

Schedule of Investments (unaudited)(continued)

September 30, 2025

**BlackRock Core Bond Trust (BHK)** 

**(Percentages shown are based on Net Assets)**

---

| | | | |
|:---|:---|:---|:---|
| *Security* |  | *Par*<br> *(000)*<br>| *Value* |
| **Health Care REITs (continued)** | **Health Care REITs (continued)** | **Health Care REITs (continued)** | **Health Care REITs (continued)** |
| &nbsp;&nbsp;&nbsp; MPT Operating Partnership LP/MPT Finance Corp., <br> 8.50%, 02/15/32<sup>(b)</sup><br>| USD | 537 | &nbsp;&nbsp; $570596 |
| Ventas Realty LP, 3.25%, 10/15/26 |  | 870 | &nbsp;&nbsp; 860914 |
|  |  |  | &nbsp;&nbsp; 2127656 |
| **Hotel & Resort REITs — 0.3%** | **Hotel & Resort REITs — 0.3%** | **Hotel & Resort REITs — 0.3%** | **Hotel & Resort REITs — 0.3%** |
| &nbsp;&nbsp;&nbsp; Park Intermediate Holdings LLC/PK Domestic Property <br> LLC/PK Finance Co-Issuer, 7.00%, 02/01/30<sup>(b)</sup><br>|  | 121 | &nbsp;&nbsp; 124738 |
| &nbsp;&nbsp;&nbsp; Pebblebrook Hotel LP/PEB Finance Corp., 6.38%, <br> 10/15/29<sup>(b)</sup><br>|  | 65 | &nbsp;&nbsp; 65969 |
| RHP Hotel Properties LP/RHP Finance Corp.<sup>(b)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp; 7.25%, 07/15/28 |  | 72 | &nbsp;&nbsp; 74277 |
| &nbsp;&nbsp;&nbsp; 6.50%, 04/01/32 |  | 188 | &nbsp;&nbsp; 193281 |
| &nbsp;&nbsp;&nbsp; 6.50%, 06/15/33 |  | 214 | &nbsp;&nbsp; 220396 |
| Service Properties Trust |  |  |  |
| &nbsp;&nbsp;&nbsp; 0.00%, 09/30/27<sup>(b)(k)</sup> |  | 157 | &nbsp;&nbsp; 138400 |
| &nbsp;&nbsp;&nbsp; 8.63%, 11/15/31<sup>(b)</sup> |  | 955 | &nbsp;&nbsp; 1016783 |
| &nbsp;&nbsp;&nbsp; 8.88%, 06/15/32 |  | 253 | &nbsp;&nbsp; 254422 |
| XHR LP, 6.63%, 05/15/30<sup>(b)</sup> |  | 64 | &nbsp;&nbsp; 65758 |
|  |  |  | &nbsp;&nbsp; 2154024 |
| **Hotels, Restaurants & Leisure — 1.8%** | **Hotels, Restaurants & Leisure — 1.8%** | **Hotels, Restaurants & Leisure — 1.8%** | **Hotels, Restaurants & Leisure — 1.8%** |
| Boyne USA, Inc., 4.75%, 05/15/29<sup>(b)</sup> |  | 47 | &nbsp;&nbsp; 46111 |
| &nbsp;&nbsp;&nbsp; Burger King (Restaurant Brands International Inc.)/New <br> Red Finance, Inc., 5.63%, 09/15/29<sup>(b)</sup><br>|  | 33 | &nbsp;&nbsp; 33397 |
| &nbsp;&nbsp;&nbsp; Burger King (Restaurant Brands International, Inc.)/New <br> Red Finance, Inc.<sup>(b)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp; 3.88%, 01/15/28 |  | 39 | &nbsp;&nbsp; 38066 |
| &nbsp;&nbsp;&nbsp; 4.38%, 01/15/28 |  | 144 | &nbsp;&nbsp; 141492 |
| &nbsp;&nbsp;&nbsp; 4.00%, 10/15/30 |  | 31 | &nbsp;&nbsp; 29215 |
| Caesars Entertainment, Inc.<sup>(b)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp; 4.63%, 10/15/29 |  | 2 | &nbsp;&nbsp; 1912 |
| &nbsp;&nbsp;&nbsp; 7.00%, 02/15/30 |  | 359 | &nbsp;&nbsp; 369270 |
| &nbsp;&nbsp;&nbsp; 6.50%, 02/15/32 |  | 166 | &nbsp;&nbsp; 169318 |
| Carnival Corp.<sup>(b)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp; 5.88%, 06/15/31 |  | 107 | &nbsp;&nbsp; 109648 |
| &nbsp;&nbsp;&nbsp; 5.75%, 08/01/32 |  | 109 | &nbsp;&nbsp; 110927 |
| &nbsp;&nbsp;&nbsp; 6.13%, 02/15/33 |  | 455 | &nbsp;&nbsp; 466391 |
| Carnival PLC, 4.13%, 07/15/31<sup>(b)</sup> | EUR | 235 | &nbsp;&nbsp; 279299 |
| Churchill Downs, Inc.<sup>(b)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp; 4.75%, 01/15/28 | USD | 35 | &nbsp;&nbsp; 34533 |
| &nbsp;&nbsp;&nbsp; 5.75%, 04/01/30 |  | 149 | &nbsp;&nbsp; 148866 |
| &nbsp;&nbsp;&nbsp; 6.75%, 05/01/31 |  | 223 | &nbsp;&nbsp; 228543 |
| Corvias Campus Living - USG LLC, 5.30%, 07/01/50<sup>(c)</sup> |  | 5476 | &nbsp;&nbsp; 1916431 |
| &nbsp;&nbsp;&nbsp; Fertitta Entertainment LLC/Fertitta Entertainment <br> Finance Co., Inc., 4.63%, 01/15/29<sup>(b)</sup><br>|  | 162 | &nbsp;&nbsp; 154182 |
| &nbsp;&nbsp;&nbsp; Great Canadian Gaming Corp./Raptor LLC, 8.75%, <br> 11/15/29<sup>(b)</sup><br>|  | 215 | &nbsp;&nbsp; 212600 |
| Hilton Domestic Operating Co., Inc.<sup>(b)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp; 6.13%, 04/01/32 |  | 60 | &nbsp;&nbsp; 61682 |
| &nbsp;&nbsp;&nbsp; 5.88%, 03/15/33 |  | 197 | &nbsp;&nbsp; 201097 |
| &nbsp;&nbsp;&nbsp; 5.75%, 09/15/33 |  | 32 | &nbsp;&nbsp; 32427 |
| Light & Wonder International, Inc.<sup>(b)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp; 7.25%, 11/15/29 |  | 96 | &nbsp;&nbsp; 98532 |
| &nbsp;&nbsp;&nbsp; 7.50%, 09/01/31 |  | 63 | &nbsp;&nbsp; 65517 |
| &nbsp;&nbsp;&nbsp; 6.25%, 10/01/33 |  | 146 | &nbsp;&nbsp; 146248 |
| Lindblad Expeditions LLC, 7.00%, 09/15/30<sup>(b)</sup> |  | 192 | &nbsp;&nbsp; 195704 |
| MajorDrive Holdings IV LLC, 6.38%, 06/01/29<sup>(b)</sup> |  | 160 | &nbsp;&nbsp; 131116 |
| Melco Resorts Finance Ltd.<sup>(b)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp; 5.75%, 07/21/28 |  | 200 | &nbsp;&nbsp; 199900 |
| &nbsp;&nbsp;&nbsp; 5.38%, 12/04/29 |  | 400 | &nbsp;&nbsp; 390780 |
| &nbsp;&nbsp;&nbsp; 7.63%, 04/17/32 |  | 400 | &nbsp;&nbsp; 419000 |

---

---

| | | | |
|:---|:---|:---|:---|
| *Security* |  | *Par*<br> *(000)*<br>| *Value* |
| **Hotels, Restaurants & Leisure (continued)** | **Hotels, Restaurants & Leisure (continued)** | **Hotels, Restaurants & Leisure (continued)** | **Hotels, Restaurants & Leisure (continued)** |
| &nbsp;&nbsp;&nbsp; Merlin Entertainments Group U.S. Holdings, Inc., 7.38%, <br> 02/15/31<sup>(b)</sup><br>| USD | 200 | &nbsp;&nbsp; $172340 |
| MGM China Holdings Ltd., 5.88%, 05/15/26<sup>(d)</sup> |  | 450 | &nbsp;&nbsp; 449721 |
| MGM Resorts International, 6.13%, 09/15/29 |  | 129 | &nbsp;&nbsp; 131296 |
| &nbsp;&nbsp;&nbsp; Mohegan Tribal Gaming Authority/MS Digital <br> Entertainment Holdings LLC, 8.25%, 04/15/30<sup>(b)</sup><br>|  | 133 | &nbsp;&nbsp; 138192 |
| NCL Corp. Ltd.<sup>(b)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp; 5.88%, 01/15/31 |  | 261 | &nbsp;&nbsp; 260990 |
| &nbsp;&nbsp;&nbsp; 6.75%, 02/01/32 |  | 186 | &nbsp;&nbsp; 191288 |
| &nbsp;&nbsp;&nbsp; 6.25%, 09/15/33 |  | 416 | &nbsp;&nbsp; 418153 |
| &nbsp;&nbsp;&nbsp; Premier Entertainment Sub LLC/Premier Entertainment <br> Finance Corp.<sup>(b)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp; 5.63%, 09/01/29 |  | 63 | &nbsp;&nbsp; 34020 |
| &nbsp;&nbsp;&nbsp; 5.88%, 09/01/31 |  | 107 | &nbsp;&nbsp; 55165 |
| Raising Cane's Restaurants LLC, 9.38%, 05/01/29<sup>(b)</sup> |  | 90 | &nbsp;&nbsp; 94477 |
| &nbsp;&nbsp;&nbsp; Rivers Enterprise Borrower LLC/Rivers Enterprise <br> Finance Corp., 6.63%, 02/01/33<sup>(b)</sup><br>|  | 88 | &nbsp;&nbsp; 89173 |
| &nbsp;&nbsp;&nbsp; Rivers Enterprise Lender LLC/Rivers Enterprise Lender <br> Corp., 10/15/30<sup>(b)(g)</sup><br>|  | 84 | &nbsp;&nbsp; 84749 |
| Sabre GLBL, Inc.<sup>(b)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp; 8.63%, 06/01/27 |  | 103 | &nbsp;&nbsp; 104475 |
| &nbsp;&nbsp;&nbsp; 10.75%, 11/15/29<sup>(f)</sup> |  | 274 | &nbsp;&nbsp; 264793 |
| &nbsp;&nbsp;&nbsp; 11.13%, 07/15/30 |  | 317 | &nbsp;&nbsp; 306999 |
| Starz Capital Holdings 1, Inc., 6.00%, 04/15/30<sup>(b)</sup> |  | 155 | &nbsp;&nbsp; 146993 |
| Station Casinos LLC<sup>(b)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp; 4.50%, 02/15/28 |  | 7 | &nbsp;&nbsp; 6882 |
| &nbsp;&nbsp;&nbsp; 6.63%, 03/15/32 |  | 100 | &nbsp;&nbsp; 102724 |
| Vail Resorts, Inc.<sup>(b)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp; 5.63%, 07/15/30 |  | 113 | &nbsp;&nbsp; 113706 |
| &nbsp;&nbsp;&nbsp; 6.50%, 05/15/32 |  | 193 | &nbsp;&nbsp; 199552 |
| Viking Cruises Ltd.<sup>(b)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp; 5.88%, 09/15/27 |  | 95 | &nbsp;&nbsp; 95037 |
| &nbsp;&nbsp;&nbsp; 7.00%, 02/15/29 |  | 34 | &nbsp;&nbsp; 34172 |
| &nbsp;&nbsp;&nbsp; 9.13%, 07/15/31 |  | 195 | &nbsp;&nbsp; 209297 |
| &nbsp;&nbsp;&nbsp; 10/15/33<sup>(g)</sup> |  | 363 | &nbsp;&nbsp; 363255 |
| Viking Ocean Cruises Ship VII Ltd., 5.63%, 02/15/29<sup>(b)</sup> |  | 111 | &nbsp;&nbsp; 110905 |
| Voyager Parent LLC, 9.25%, 07/01/32<sup>(b)</sup> |  | 229 | &nbsp;&nbsp; 242165 |
| Warnermedia Holdings, Inc., 5.05%, 03/15/42 |  | 1071 | &nbsp;&nbsp; 855001 |
| Wynn Macau Ltd.<sup>(b)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp; 5.63%, 08/26/28 |  | 800 | &nbsp;&nbsp; 798408 |
| &nbsp;&nbsp;&nbsp; 5.13%, 12/15/29 |  | 200 | &nbsp;&nbsp; 195630 |
| &nbsp;&nbsp;&nbsp; Wynn Resorts Finance LLC/Wynn Resorts Capital <br> Corp.<sup>(b)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp; 5.13%, 10/01/29 |  | 116 | &nbsp;&nbsp; 116179 |
| &nbsp;&nbsp;&nbsp; 7.13%, 02/15/31<sup>(f)</sup> |  | 112 | &nbsp;&nbsp; 120551 |
| &nbsp;&nbsp;&nbsp; 6.25%, 03/15/33 |  | 242 | &nbsp;&nbsp; 245746 |
|  |  |  | &nbsp;&nbsp; 13184238 |
| **Household Durables — 0.2%** | **Household Durables — 0.2%** | **Household Durables — 0.2%** | **Household Durables — 0.2%** |
| &nbsp;&nbsp;&nbsp; Ashton Woods USA LLC/Ashton Woods Finance Co., <br> 6.88%, 08/01/33<sup>(b)</sup><br>|  | 83 | &nbsp;&nbsp; 83712 |
| Beazer Homes USA, Inc., 5.88%, 10/15/27 |  | 28 | &nbsp;&nbsp; 27983 |
| Century Communities, Inc., 6.63%, 09/15/33<sup>(b)</sup> |  | 104 | &nbsp;&nbsp; 104911 |
| Dream Finders Homes, Inc., 8.25%, 08/15/28<sup>(b)</sup> |  | 58 | &nbsp;&nbsp; 60172 |
| Empire Communities Corp., 9.75%, 05/01/29<sup>(b)</sup> |  | 28 | &nbsp;&nbsp; 29359 |
| K Hovnanian Enterprises, Inc.<sup>(b)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp; 8.00%, 04/01/31 |  | 176 | &nbsp;&nbsp; 180476 |
| &nbsp;&nbsp;&nbsp; 8.38%, 10/01/33 |  | 194 | &nbsp;&nbsp; 198899 |
| LGI Homes, Inc.<sup>(b)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp; 8.75%, 12/15/28 |  | 56 | &nbsp;&nbsp; 58790 |
| &nbsp;&nbsp;&nbsp; 7.00%, 11/15/32 |  | 69 | &nbsp;&nbsp; 67373 |
| Meritage Homes Corp., 1.75%, 05/15/28<sup>(j)</sup> |  | 206 | &nbsp;&nbsp; 210833 |
| Newell Brands, Inc., 8.50%, 06/01/28<sup>(b)</sup> |  | 106 | &nbsp;&nbsp; 112120 |

---

Schedule of Investments

------

Schedule of Investments (unaudited)(continued)

September 30, 2025

**BlackRock Core Bond Trust (BHK)** 

**(Percentages shown are based on Net Assets)**

---

| | | | |
|:---|:---|:---|:---|
| *Security* |  | *Par*<br> *(000)*<br>| *Value* |
| **Household Durables (continued)** | **Household Durables (continued)** | **Household Durables (continued)** | **Household Durables (continued)** |
| Scotts Miracle-Gro Co. |  |  |  |
| &nbsp;&nbsp;&nbsp; 4.50%, 10/15/29 | USD | 13 | &nbsp;&nbsp; $12630 |
| &nbsp;&nbsp;&nbsp; 4.38%, 02/01/32 |  | 22 | &nbsp;&nbsp; 20313 |
| Somnigroup International, Inc., 3.88%, 10/15/31<sup>(b)</sup> |  | 45 | &nbsp;&nbsp; 41214 |
| STL Holding Co. LLC, 8.75%, 02/15/29<sup>(b)</sup> |  | 76 | &nbsp;&nbsp; 79642 |
| Whirlpool Corp. |  |  |  |
| &nbsp;&nbsp;&nbsp; 6.13%, 06/15/30 |  | 109 | &nbsp;&nbsp; 109854 |
| &nbsp;&nbsp;&nbsp; 6.50%, 06/15/33 |  | 152 | &nbsp;&nbsp; 151687 |
|  |  |  | &nbsp;&nbsp; 1549968 |
| **Independent Power and Renewable Electricity Producers — 0.4%** | **Independent Power and Renewable Electricity Producers — 0.4%** | **Independent Power and Renewable Electricity Producers — 0.4%** | **Independent Power and Renewable Electricity Producers — 0.4%** |
| Calpine Corp.<sup>(b)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp; 4.50%, 02/15/28 |  | 4 | &nbsp;&nbsp; 3983 |
| &nbsp;&nbsp;&nbsp; 5.13%, 03/15/28 |  | 92 | &nbsp;&nbsp; 92047 |
| &nbsp;&nbsp;&nbsp; 5.00%, 02/01/31 |  | 30 | &nbsp;&nbsp; 29912 |
| Clearway Energy Operating LLC, 4.75%, 03/15/28<sup>(b)</sup> |  | 93 | &nbsp;&nbsp; 91878 |
| Greenko Dutch BV, 3.85%, 03/29/26<sup>(d)</sup> |  | 173 | &nbsp;&nbsp; 171314 |
| India Cleantech Energy, 4.70%, 08/10/26<sup>(b)</sup> |  | 190 | &nbsp;&nbsp; 187947 |
| Lightning Power LLC, 7.25%, 08/15/32<sup>(b)</sup> |  | 49 | &nbsp;&nbsp; 51877 |
| NRG Energy, Inc.<sup>(b)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp; 5.75%, 07/15/29 |  | 81 | &nbsp;&nbsp; 81097 |
| &nbsp;&nbsp;&nbsp; 6.00%, 02/01/33 |  | 542 | &nbsp;&nbsp; 550439 |
| &nbsp;&nbsp;&nbsp; 01/15/34<sup>(g)</sup> |  | 362 | &nbsp;&nbsp; 361631 |
| &nbsp;&nbsp;&nbsp; 6.25%, 11/01/34 |  | 100 | &nbsp;&nbsp; 102509 |
| &nbsp;&nbsp;&nbsp; 01/15/36<sup>(g)</sup> |  | 965 | &nbsp;&nbsp; 965139 |
| Vistra Corp., (5-year CMT + 6.93%), 8.00%<sup>(a)(b)(i)</sup> |  | 100 | &nbsp;&nbsp; 102286 |
|  |  |  | &nbsp;&nbsp; 2792059 |
| **Industrial Conglomerates — 0.1%** | **Industrial Conglomerates — 0.1%** | **Industrial Conglomerates — 0.1%** | **Industrial Conglomerates — 0.1%** |
| Amsted Industries, Inc., 6.38%, 03/15/33<sup>(b)</sup> |  | 66 | &nbsp;&nbsp; 67741 |
| Axon Enterprise, Inc., 6.25%, 03/15/33<sup>(b)</sup> |  | 52 | &nbsp;&nbsp; 53523 |
| Eaton Corp., 4.15%, 11/02/42 |  | 500 | &nbsp;&nbsp; 441859 |
| Enpro, Inc., 6.13%, 06/01/33<sup>(b)</sup> |  | 85 | &nbsp;&nbsp; 86874 |
| Maxam Prill SARL, 6.00%, 07/15/30<sup>(d)</sup> | EUR | 100 | &nbsp;&nbsp; 119192 |
|  |  |  | &nbsp;&nbsp; 769189 |
| **Insurance — 3.0%** | **Insurance — 3.0%** | **Insurance — 3.0%** | **Insurance — 3.0%** |
| Acrisure LLC/Acrisure Finance, Inc., 6.75%, 07/01/32<sup>(b)</sup> | USD | 108 | &nbsp;&nbsp; 111206 |
| &nbsp;&nbsp;&nbsp; Alliant Holdings Intermediate LLC/Alliant Holdings Co-<br> Issuer<sup>(b)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp; 4.25%, 10/15/27 |  | 473 | &nbsp;&nbsp; 465147 |
| &nbsp;&nbsp;&nbsp; 6.75%, 10/15/27 |  | 546 | &nbsp;&nbsp; 547176 |
| &nbsp;&nbsp;&nbsp; 6.75%, 04/15/28 |  | 71 | &nbsp;&nbsp; 72259 |
| &nbsp;&nbsp;&nbsp; 5.88%, 11/01/29 |  | 1093 | &nbsp;&nbsp; 1087300 |
| &nbsp;&nbsp;&nbsp; 7.00%, 01/15/31 |  | 297 | &nbsp;&nbsp; 306869 |
| &nbsp;&nbsp;&nbsp; 7.38%, 10/01/32 |  | 493 | &nbsp;&nbsp; 508003 |
| AmWINS Group, Inc., 6.38%, 02/15/29<sup>(b)</sup> |  | 85 | &nbsp;&nbsp; 86728 |
| &nbsp;&nbsp;&nbsp; Amynta Agency Borrower, Inc. and Amynta Warranty <br> Borrower, Inc., 7.50%, 07/15/33<sup>(b)</sup><br>|  | 201 | &nbsp;&nbsp; 205753 |
| Aon Global Ltd., 4.60%, 06/14/44 |  | 500 | &nbsp;&nbsp; 441483 |
| &nbsp;&nbsp;&nbsp; APH Somerset Investor 2 LLC/APH2 Somerset Investor <br> 2 LLC/APH3 Somerset Investor 2 LLC, 7.88%, <br> 11/01/29<sup>(b)</sup><br>|  | 140 | &nbsp;&nbsp; 146107 |
| Ardonagh Finco Ltd. |  |  |  |
| &nbsp;&nbsp;&nbsp; 6.88%, 02/15/31<sup>(d)</sup> | EUR | 200 | &nbsp;&nbsp; 242704 |
| &nbsp;&nbsp;&nbsp; 7.75%, 02/15/31<sup>(b)</sup> | USD | 893 | &nbsp;&nbsp; 934425 |
| Ardonagh Group Finance Ltd., 8.88%, 02/15/32<sup>(b)</sup> |  | 936 | &nbsp;&nbsp; 984012 |
| Berkshire Hathaway Finance Corp., 4.40%, 05/15/42<sup>(f)</sup> |  | 500 | &nbsp;&nbsp; 467173 |
| &nbsp;&nbsp;&nbsp; Howden U.K. Refinance PLC/Howden U.K. Refinance <br> 2 PLC/Howden U.S. Refinance LLC<sup>(b)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp; 7.25%, 02/15/31 |  | 1000 | &nbsp;&nbsp; 1029571 |
| &nbsp;&nbsp;&nbsp; 8.13%, 02/15/32 |  | 586 | &nbsp;&nbsp; 607974 |
| HUB International Ltd.<sup>(b)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp; 7.25%, 06/15/30 |  | 1090 | &nbsp;&nbsp; 1136767 |
| &nbsp;&nbsp;&nbsp; 7.38%, 01/31/32 |  | 2427 | &nbsp;&nbsp; 2527330 |

---

---

| | | | |
|:---|:---|:---|:---|
| *Security* |  | *Par*<br> *(000)*<br>| *Value* |
| **Insurance (continued)** | **Insurance (continued)** | **Insurance (continued)** | **Insurance (continued)** |
| Jones Deslauriers Insurance Management, Inc.<sup>(b)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp; 8.50%, 03/15/30 | USD | 353 | &nbsp;&nbsp; $370865 |
| &nbsp;&nbsp;&nbsp; 6.88%, 10/01/33 |  | 211 | &nbsp;&nbsp; 209894 |
| Liberty Mutual Group, Inc., 6.50%, 05/01/42<sup>(b)</sup> |  | 2000 | &nbsp;&nbsp; 2051491 |
| Marsh & McLennan Cos., Inc., 5.88%, 08/01/33 |  | 1500 | &nbsp;&nbsp; 1622003 |
| Nassau Cos., of New York, 7.88%, 07/15/30<sup>(b)</sup> |  | 58 | &nbsp;&nbsp; 59236 |
| Panther Escrow Issuer LLC, 7.13%, 06/01/31<sup>(b)</sup> |  | 1564 | &nbsp;&nbsp; 1626745 |
| Progressive Corp., 3.00%, 03/15/32 |  | 750 | &nbsp;&nbsp; 692204 |
| Prudential Financial, Inc. |  |  |  |
| &nbsp;&nbsp;&nbsp; 5.90%, 03/17/36 |  | 500 | &nbsp;&nbsp; 534227 |
| &nbsp;&nbsp;&nbsp; 6.63%, 12/01/37 |  | 1625 | &nbsp;&nbsp; 1848967 |
| Ryan Specialty LLC<sup>(b)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp; 4.38%, 02/01/30 |  | 60 | &nbsp;&nbsp; 58133 |
| &nbsp;&nbsp;&nbsp; 5.88%, 08/01/32 |  | 113 | &nbsp;&nbsp; 114264 |
| &nbsp;&nbsp;&nbsp; Teachers Insurance & Annuity Association of America, <br> 4.27%, 05/15/47<sup>(b)</sup><br>|  | 700 | &nbsp;&nbsp; 580826 |
| USI, Inc., 7.50%, 01/15/32<sup>(b)</sup> |  | 378 | &nbsp;&nbsp; 396400 |
|  |  |  | &nbsp;&nbsp; 22073242 |
| **Interactive Media & Services — 0.3%** | **Interactive Media & Services — 0.3%** | **Interactive Media & Services — 0.3%** | **Interactive Media & Services — 0.3%** |
| Alphabet, Inc., 5.30%, 05/15/65 |  | 600 | &nbsp;&nbsp; 597020 |
| iliad SA<sup>(d)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp; 5.63%, 02/15/30 | EUR | 100 | &nbsp;&nbsp; 126057 |
| &nbsp;&nbsp;&nbsp; 4.25%, 01/09/32 |  | 100 | &nbsp;&nbsp; 118042 |
| Meta Platforms, Inc., 5.55%, 08/15/64 | USD | 700 | &nbsp;&nbsp; 694857 |
| Snap, Inc.<sup>(b)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp; 6.88%, 03/01/33<sup>(f)</sup> |  | 288 | &nbsp;&nbsp; 294365 |
| &nbsp;&nbsp;&nbsp; 6.88%, 03/15/34 |  | 170 | &nbsp;&nbsp; 172062 |
|  |  |  | &nbsp;&nbsp; 2002403 |
| **Internet Software & Services — 0.4%** | **Internet Software & Services — 0.4%** | **Internet Software & Services — 0.4%** | **Internet Software & Services — 0.4%** |
| Acuris Finance U.S., Inc./Acuris Finance SARL<sup>(b)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp; 5.00%, 05/01/28 |  | 272 | &nbsp;&nbsp; 264350 |
| &nbsp;&nbsp;&nbsp; 9.00%, 08/01/29 |  | 200 | &nbsp;&nbsp; 209000 |
| Amazon.com, Inc., 2.50%, 06/03/50 |  | 1500 | &nbsp;&nbsp; 926649 |
| Cablevision Lightpath LLC<sup>(b)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp; 3.88%, 09/15/27 |  | 220 | &nbsp;&nbsp; 213585 |
| &nbsp;&nbsp;&nbsp; 5.63%, 09/15/28 |  | 200 | &nbsp;&nbsp; 196735 |
| Getty Images, Inc., 11.25%, 02/21/30<sup>(b)</sup> |  | 95 | &nbsp;&nbsp; 90718 |
| Match Group Holdings II LLC<sup>(b)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp; 4.13%, 08/01/30 |  | 20 | &nbsp;&nbsp; 18890 |
| &nbsp;&nbsp;&nbsp; 3.63%, 10/01/31 |  | 24 | &nbsp;&nbsp; 21752 |
| &nbsp;&nbsp;&nbsp; 6.13%, 09/15/33 |  | 205 | &nbsp;&nbsp; 206801 |
| Rakuten Group, Inc.<sup>(b)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp; 11.25%, 02/15/27 |  | 200 | &nbsp;&nbsp; 216769 |
| &nbsp;&nbsp;&nbsp; 9.75%, 04/15/29 |  | 200 | &nbsp;&nbsp; 224893 |
|  |  |  | &nbsp;&nbsp; 2590142 |
| **IT Services — 0.7%** | **IT Services — 0.7%** | **IT Services — 0.7%** | **IT Services — 0.7%** |
| Amentum Holdings, Inc., 7.25%, 08/01/32<sup>(b)</sup> |  | 139 | &nbsp;&nbsp; 144333 |
| Atos SE<sup>(d)(l)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp; 5.20%, 12/18/30 | EUR | 23 | &nbsp;&nbsp; 25466 |
| &nbsp;&nbsp;&nbsp; 9.36%, 12/18/29 |  | 18 | &nbsp;&nbsp; 24431 |
| CA Magnum Holdings, 5.38%, 10/31/26<sup>(b)</sup> | USD | 278 | &nbsp;&nbsp; 276645 |
| CACI International, Inc., 6.38%, 06/15/33<sup>(b)</sup> |  | 180 | &nbsp;&nbsp; 185679 |
| Fair Isaac Corp.<sup>(b)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp; 4.00%, 06/15/28 |  | 45 | &nbsp;&nbsp; 43764 |
| &nbsp;&nbsp;&nbsp; 6.00%, 05/15/33 |  | 801 | &nbsp;&nbsp; 810967 |
| &nbsp;&nbsp;&nbsp; Fidelity National Information Services, Inc., 4.50%, <br> 08/15/46<br>|  | 1000 | &nbsp;&nbsp; 839900 |
| Fiserv, Inc., 4.40%, 07/01/49<sup>(f)</sup> |  | 500 | &nbsp;&nbsp; 412250 |
| Fortress Intermediate 3, Inc., 7.50%, 06/01/31<sup>(b)</sup> |  | 363 | &nbsp;&nbsp; 380076 |
| Insight Enterprises, Inc., 6.63%, 05/15/32<sup>(b)</sup> |  | 78 | &nbsp;&nbsp; 79973 |
| International Business Machines Corp. |  |  |  |
| &nbsp;&nbsp;&nbsp; 4.40%, 07/27/32 |  | 500 | &nbsp;&nbsp; 500017 |

---

------

Schedule of Investments (unaudited)(continued)

September 30, 2025

**BlackRock Core Bond Trust (BHK)** 

**(Percentages shown are based on Net Assets)**

---

| | | | |
|:---|:---|:---|:---|
| *Security* |  | *Par*<br> *(000)*<br>| *Value* |
| **IT Services (continued)** | **IT Services (continued)** | **IT Services (continued)** | **IT Services (continued)** |
| International Business Machines Corp. (continued) |  |  |  |
| &nbsp;&nbsp;&nbsp; 4.75%, 02/06/33<sup>(f)</sup> | USD | 550 | &nbsp;&nbsp; $558976 |
| &nbsp;&nbsp;&nbsp; 3.43%, 02/09/52 |  | 750 | &nbsp;&nbsp; 529630 |
| McAfee Corp., 7.38%, 02/15/30<sup>(b)</sup> |  | 252 | &nbsp;&nbsp; 233753 |
| &nbsp;&nbsp;&nbsp; Science Applications International Corp., 5.88%, <br> 11/01/33<sup>(b)</sup><br>|  | 141 | &nbsp;&nbsp; 141044 |
|  |  |  | &nbsp;&nbsp; 5186904 |
| **Machinery — 0.4%** | **Machinery — 0.4%** | **Machinery — 0.4%** | **Machinery — 0.4%** |
| Chart Industries, Inc.<sup>(b)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp; 7.50%, 01/01/30 |  | 139 | &nbsp;&nbsp; 144662 |
| &nbsp;&nbsp;&nbsp; 9.50%, 01/01/31 |  | 61 | &nbsp;&nbsp; 65353 |
| Esab Corp., 6.25%, 04/15/29<sup>(b)</sup> |  | 145 | &nbsp;&nbsp; 148959 |
| GrafTech Global Enterprises, Inc., 9.88%, 12/23/29<sup>(b)(f)</sup> |  | 82 | &nbsp;&nbsp; 69905 |
| &nbsp;&nbsp;&nbsp; Husky Injection Molding Systems Ltd./Titan Co-Borrower <br> LLC, 9.00%, 02/15/29<sup>(b)(f)</sup><br>|  | 537 | &nbsp;&nbsp; 561268 |
| John Deere Capital Corp., 4.40%, 09/08/31 |  | 445 | &nbsp;&nbsp; 448025 |
| Manitowoc Co., Inc., 9.25%, 10/01/31<sup>(b)</sup> |  | 72 | &nbsp;&nbsp; 75543 |
| Terex Corp.<sup>(b)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp; 5.00%, 05/15/29 |  | 72 | &nbsp;&nbsp; 70906 |
| &nbsp;&nbsp;&nbsp; 6.25%, 10/15/32 |  | 135 | &nbsp;&nbsp; 137524 |
| TK Elevator Midco GmbH, 4.38%, 07/15/27<sup>(d)</sup> | EUR | 303 | &nbsp;&nbsp; 356136 |
| TK Elevator U.S. Newco, Inc., 5.25%, 07/15/27<sup>(b)</sup> | USD | 741 | &nbsp;&nbsp; 738380 |
| Vertiv Group Corp., 4.13%, 11/15/28<sup>(b)</sup> |  | 135 | &nbsp;&nbsp; 131825 |
|  |  |  | &nbsp;&nbsp; 2948486 |
| **Media — 2.6%** | **Media — 2.6%** | **Media — 2.6%** | **Media — 2.6%** |
| Cable One, Inc.<sup>(j)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp; 0.00%, 03/15/26<sup>(k)</sup> |  | 62 | &nbsp;&nbsp; 60388 |
| &nbsp;&nbsp;&nbsp; 1.13%, 03/15/28 |  | 449 | &nbsp;&nbsp; 383222 |
| CCO Holdings LLC/CCO Holdings Capital Corp. |  |  |  |
| &nbsp;&nbsp;&nbsp; 5.38%, 06/01/29<sup>(b)</sup> |  | 21 | &nbsp;&nbsp; 20860 |
| &nbsp;&nbsp;&nbsp; 6.38%, 09/01/29<sup>(b)</sup> |  | 554 | &nbsp;&nbsp; 561610 |
| &nbsp;&nbsp;&nbsp; 4.75%, 03/01/30<sup>(b)</sup> |  | 62 | &nbsp;&nbsp; 59493 |
| &nbsp;&nbsp;&nbsp; 4.25%, 02/01/31<sup>(b)</sup> |  | 157 | &nbsp;&nbsp; 144633 |
| &nbsp;&nbsp;&nbsp; 7.38%, 03/01/31<sup>(b)</sup> |  | 1204 | &nbsp;&nbsp; 1242269 |
| &nbsp;&nbsp;&nbsp; 4.75%, 02/01/32<sup>(b)</sup> |  | 78 | &nbsp;&nbsp; 72131 |
| &nbsp;&nbsp;&nbsp; 4.50%, 05/01/32 |  | 15 | &nbsp;&nbsp; 13651 |
| &nbsp;&nbsp;&nbsp; 4.50%, 06/01/33<sup>(b)</sup> |  | 80 | &nbsp;&nbsp; 71125 |
| &nbsp;&nbsp;&nbsp; 4.25%, 01/15/34<sup>(b)(f)</sup> |  | 736 | &nbsp;&nbsp; 636318 |
| &nbsp;&nbsp;&nbsp; Charter Communications Operating LLC/Charter <br> Communications Operating Capital<br>|  |  |  |
| &nbsp;&nbsp;&nbsp; 5.75%, 04/01/48 |  | 1100 | &nbsp;&nbsp; 997122 |
| &nbsp;&nbsp;&nbsp; 5.13%, 07/01/49 |  | 1000 | &nbsp;&nbsp; 826914 |
| Cinemark USA, Inc., 7.00%, 08/01/32<sup>(b)</sup> |  | 41 | &nbsp;&nbsp; 42614 |
| Comcast Corp. |  |  |  |
| &nbsp;&nbsp;&nbsp; 6.45%, 03/15/37 |  | 790 | &nbsp;&nbsp; 883463 |
| &nbsp;&nbsp;&nbsp; 3.90%, 03/01/38<sup>(f)</sup> |  | 1500 | &nbsp;&nbsp; 1320458 |
| &nbsp;&nbsp;&nbsp; 4.70%, 10/15/48 |  | 3000 | &nbsp;&nbsp; 2617166 |
| CSC Holdings LLC<sup>(b)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp; 5.50%, 04/15/27 |  | 200 | &nbsp;&nbsp; 189826 |
| &nbsp;&nbsp;&nbsp; 5.38%, 02/01/28 |  | 607 | &nbsp;&nbsp; 532148 |
| &nbsp;&nbsp;&nbsp; 11.25%, 05/15/28 |  | 400 | &nbsp;&nbsp; 370303 |
| &nbsp;&nbsp;&nbsp; 11.75%, 01/31/29 |  | 200 | &nbsp;&nbsp; 168189 |
| Directv Financing LLC, 8.88%, 02/01/30<sup>(b)</sup> |  | 290 | &nbsp;&nbsp; 286439 |
| &nbsp;&nbsp;&nbsp; Directv Financing LLC/Directv Financing Co-Obligor, <br> Inc., 5.88%, 08/15/27<sup>(b)</sup><br>|  | 332 | &nbsp;&nbsp; 331628 |
| DISH DBS Corp.<sup>(b)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp; 5.25%, 12/01/26 |  | 763 | &nbsp;&nbsp; 749719 |
| &nbsp;&nbsp;&nbsp; 5.75%, 12/01/28 |  | 373 | &nbsp;&nbsp; 357573 |
| DISH Network Corp., 11.75%, 11/15/27<sup>(b)</sup> |  | 910 | &nbsp;&nbsp; 963014 |
| Gray Media, Inc.<sup>(b)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp; 10.50%, 07/15/29 |  | 160 | &nbsp;&nbsp; 173000 |

---

---

| | | | |
|:---|:---|:---|:---|
| *Security* |  | *Par*<br> *(000)*<br>| *Value* |
| **Media (continued)** | **Media (continued)** | **Media (continued)** | **Media (continued)** |
| Gray Media, Inc.<sup>(b)</sup> (continued) |  |  |  |
| &nbsp;&nbsp;&nbsp; 9.63%, 07/15/32 | USD | 251 | &nbsp;&nbsp; $256431 |
| &nbsp;&nbsp;&nbsp; 7.25%, 08/15/33 |  | 302 | &nbsp;&nbsp; 299268 |
| Live Nation Entertainment, Inc., 4.75%, 10/15/27<sup>(b)</sup> |  | 42 | &nbsp;&nbsp; 41722 |
| Midcontinent Communications, 8.00%, 08/15/32<sup>(b)</sup> |  | 120 | &nbsp;&nbsp; 123636 |
| Sinclair Television Group, Inc., 8.13%, 02/15/33<sup>(b)(f)</sup> |  | 439 | &nbsp;&nbsp; 450533 |
| Sirius XM Radio LLC<sup>(b)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp; 3.13%, 09/01/26 |  | 21 | &nbsp;&nbsp; 20710 |
| &nbsp;&nbsp;&nbsp; 5.00%, 08/01/27 |  | 216 | &nbsp;&nbsp; 214963 |
| TCI Communications, Inc., 7.88%, 02/15/26 |  | 610 | &nbsp;&nbsp; 617557 |
| Univision Communications, Inc.<sup>(b)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp; 8.00%, 08/15/28 |  | 454 | &nbsp;&nbsp; 470444 |
| &nbsp;&nbsp;&nbsp; 7.38%, 06/30/30<sup>(f)</sup> |  | 120 | &nbsp;&nbsp; 120574 |
| &nbsp;&nbsp;&nbsp; 8.50%, 07/31/31 |  | 292 | &nbsp;&nbsp; 301532 |
| &nbsp;&nbsp;&nbsp; 9.38%, 08/01/32 |  | 237 | &nbsp;&nbsp; 252563 |
| VZ Secured Financing BV, 5.25%, 01/15/33<sup>(d)</sup> | EUR | 100 | &nbsp;&nbsp; 117400 |
| Walt Disney Co. |  |  |  |
| &nbsp;&nbsp;&nbsp; 7.63%, 11/30/28 | USD | 385 | &nbsp;&nbsp; 422651 |
| &nbsp;&nbsp;&nbsp; 7.75%, 12/01/45 |  | 500 | &nbsp;&nbsp; 652871 |
| Ziggo BV, 4.88%, 01/15/30<sup>(b)</sup> |  | 200 | &nbsp;&nbsp; 188771 |
|  |  |  | &nbsp;&nbsp; 18626902 |
| **Metals & Mining — 0.9%** | **Metals & Mining — 0.9%** | **Metals & Mining — 0.9%** | **Metals & Mining — 0.9%** |
| Advanced Drainage Systems, Inc., 6.38%, 06/15/30<sup>(b)</sup> |  | 153 | &nbsp;&nbsp; 155710 |
| Arsenal AIC Parent LLC<sup>(b)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp; 8.00%, 10/01/30 |  | 161 | &nbsp;&nbsp; 170466 |
| &nbsp;&nbsp;&nbsp; 11.50%, 10/01/31 |  | 649 | &nbsp;&nbsp; 720797 |
| &nbsp;&nbsp;&nbsp; Big River Steel LLC/BRS Finance Corp., 6.63%, <br> 01/31/29<sup>(b)</sup><br>|  | 302 | &nbsp;&nbsp; 302118 |
| Carpenter Technology Corp., 7.63%, 03/15/30 |  | 151 | &nbsp;&nbsp; 155172 |
| Cleveland-Cliffs, Inc., 6.88%, 11/01/29<sup>(b)</sup> |  | 272 | &nbsp;&nbsp; 277186 |
| Constellium SE<sup>(b)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp; 3.75%, 04/15/29 |  | 591 | &nbsp;&nbsp; 562327 |
| &nbsp;&nbsp;&nbsp; 6.38%, 08/15/32 |  | 250 | &nbsp;&nbsp; 255550 |
| First Quantum Minerals Ltd.<sup>(b)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp; 8.00%, 03/01/33 |  | 200 | &nbsp;&nbsp; 211079 |
| &nbsp;&nbsp;&nbsp; 7.25%, 02/15/34 |  | 200 | &nbsp;&nbsp; 206050 |
| Glencore Funding LLC, 6.14%, 04/01/55<sup>(b)</sup> |  | 600 | &nbsp;&nbsp; 627243 |
| Kaiser Aluminum Corp.<sup>(b)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp; 4.63%, 03/01/28 |  | 90 | &nbsp;&nbsp; 88992 |
| &nbsp;&nbsp;&nbsp; 4.50%, 06/01/31 |  | 331 | &nbsp;&nbsp; 311978 |
| &nbsp;&nbsp;&nbsp; Navoi Mining & Metallurgical Combinat, 6.95%, <br> 10/17/31<sup>(b)</sup><br>|  | 200 | &nbsp;&nbsp; 213558 |
| New Gold, Inc., 6.88%, 04/01/32<sup>(b)</sup> |  | 162 | &nbsp;&nbsp; 169683 |
| Novelis Corp.<sup>(b)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp; 4.75%, 01/30/30 |  | 95 | &nbsp;&nbsp; 91548 |
| &nbsp;&nbsp;&nbsp; 6.88%, 01/30/30 |  | 256 | &nbsp;&nbsp; 265465 |
| &nbsp;&nbsp;&nbsp; 3.88%, 08/15/31 |  | 175 | &nbsp;&nbsp; 159545 |
| &nbsp;&nbsp;&nbsp; 6.38%, 08/15/33 |  | 338 | &nbsp;&nbsp; 341493 |
| Novelis Sheet Ingot GmbH, 3.38%, 04/15/29<sup>(d)</sup> | EUR | 100 | &nbsp;&nbsp; 114304 |
| Rio Tinto Finance USA PLC, 4.13%, 08/21/42 | USD | 400 | &nbsp;&nbsp; 347225 |
| Samarco Mineracao SA<sup>(h)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp; (9.50% PIK), 9.50%, 06/30/31<sup>(d)</sup> |  | 46 | &nbsp;&nbsp; 46653 |
| &nbsp;&nbsp;&nbsp; (9.50% PIK), 9.50%, 06/30/31<sup>(b)</sup> |  | 9 | &nbsp;&nbsp; 8789 |
| Vale Overseas Ltd., 6.40%, 06/28/54 |  | 72 | &nbsp;&nbsp; 73892 |
| Vallourec SACA, 7.50%, 04/15/32<sup>(b)</sup> |  | 200 | &nbsp;&nbsp; 213093 |
| &nbsp;&nbsp;&nbsp; Vedanta Resources Finance II PLC, 10.88%, <br> 09/17/29<sup>(b)</sup><br>|  | 200 | &nbsp;&nbsp; 209375 |
| Volcan Cia Minera SAA, 8.75%, 01/24/30<sup>(b)</sup> |  | 43 | &nbsp;&nbsp; 44604 |
|  |  |  | &nbsp;&nbsp; 6343895 |
| **Mortgage Real Estate Investment Trusts (REITs)**<sup>(b)</sup> **— 0.1%** | **Mortgage Real Estate Investment Trusts (REITs)**<sup>(b)</sup> **— 0.1%** | **Mortgage Real Estate Investment Trusts (REITs)**<sup>(b)</sup> **— 0.1%** | **Mortgage Real Estate Investment Trusts (REITs)**<sup>(b)</sup> **— 0.1%** |
| Arbor Realty SR, Inc., 7.88%, 07/15/30 |  | 86 | &nbsp;&nbsp; 90424 |

---

Schedule of Investments

------

Schedule of Investments (unaudited)(continued)

September 30, 2025

**BlackRock Core Bond Trust (BHK)** 

**(Percentages shown are based on Net Assets)**

---

| | | | |
|:---|:---|:---|:---|
| *Security* |  | *Par*<br> *(000)*<br>| *Value* |
| **Mortgage Real Estate Investment Trusts (REITs) (continued)** | **Mortgage Real Estate Investment Trusts (REITs) (continued)** | **Mortgage Real Estate Investment Trusts (REITs) (continued)** | **Mortgage Real Estate Investment Trusts (REITs) (continued)** |
| Blackstone Mortgage Trust, Inc., 3.75%, 01/15/27 | USD | 149 | &nbsp;&nbsp; $145463 |
| Starwood Property Trust, Inc. |  |  |  |
| &nbsp;&nbsp;&nbsp; 7.25%, 04/01/29 |  | 94 | &nbsp;&nbsp; 98704 |
| &nbsp;&nbsp;&nbsp; 6.00%, 04/15/30 |  | 48 | &nbsp;&nbsp; 48730 |
| &nbsp;&nbsp;&nbsp; 6.50%, 07/01/30 |  | 119 | &nbsp;&nbsp; 123087 |
| &nbsp;&nbsp;&nbsp; 6.50%, 10/15/30 |  | 198 | &nbsp;&nbsp; 204527 |
|  |  |  | &nbsp;&nbsp; 710935 |
| **Multi-Utilities — 0.8%** | **Multi-Utilities — 0.8%** | **Multi-Utilities — 0.8%** | **Multi-Utilities — 0.8%** |
| &nbsp;&nbsp;&nbsp; AmeriGas Partners LP/AmeriGas Finance Corp., 9.50%, <br> 06/01/30<sup>(b)</sup><br>|  | 106 | &nbsp;&nbsp; 110969 |
| KeySpan Gas East Corp., 5.82%, 04/01/41<sup>(b)</sup> |  | 1010 | &nbsp;&nbsp; 1004665 |
| NiSource, Inc., 1.70%, 02/15/31 |  | 400 | &nbsp;&nbsp; 347380 |
| Piedmont Natural Gas Co., Inc., 5.10%, 02/15/35 |  | 4450 | &nbsp;&nbsp; 4526752 |
|  |  |  | &nbsp;&nbsp; 5989766 |
| **Oil, Gas & Consumable Fuels — 4.9%** | **Oil, Gas & Consumable Fuels — 4.9%** | **Oil, Gas & Consumable Fuels — 4.9%** | **Oil, Gas & Consumable Fuels — 4.9%** |
| &nbsp;&nbsp;&nbsp; Aethon United BR LP/Aethon United Finance Corp., <br> 7.50%, 10/01/29<sup>(b)</sup><br>|  | 267 | &nbsp;&nbsp; 278453 |
| &nbsp;&nbsp;&nbsp; Antero Midstream Partners LP/Antero Midstream <br> Finance Corp.<sup>(b)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp; 5.38%, 06/15/29 |  | 140 | &nbsp;&nbsp; 139487 |
| &nbsp;&nbsp;&nbsp; 6.63%, 02/01/32 |  | 76 | &nbsp;&nbsp; 78275 |
| &nbsp;&nbsp;&nbsp; Ascent Resources Utica Holdings LLC/ARU Finance <br> Corp.<sup>(b)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp; 9.00%, 11/01/27 |  | 91 | &nbsp;&nbsp; 109942 |
| &nbsp;&nbsp;&nbsp; 5.88%, 06/30/29 |  | 6 | &nbsp;&nbsp; 5988 |
| &nbsp;&nbsp;&nbsp; 6.63%, 07/15/33 |  | 90 | &nbsp;&nbsp; 91499 |
| Blue Racer Midstream LLC/Blue Racer Finance Corp.<sup>(b)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp; 7.00%, 07/15/29 |  | 120 | &nbsp;&nbsp; 124432 |
| &nbsp;&nbsp;&nbsp; 7.25%, 07/15/32 |  | 97 | &nbsp;&nbsp; 102011 |
| BP Capital Markets America, Inc., 2.72%, 01/12/32 |  | 620 | &nbsp;&nbsp; 562235 |
| Buckeye Partners LP |  |  |  |
| &nbsp;&nbsp;&nbsp; 6.88%, 07/01/29<sup>(b)</sup> |  | 11 | &nbsp;&nbsp; 11400 |
| &nbsp;&nbsp;&nbsp; 6.75%, 02/01/30<sup>(b)</sup> |  | 46 | &nbsp;&nbsp; 47778 |
| &nbsp;&nbsp;&nbsp; 5.85%, 11/15/43 |  | 94 | &nbsp;&nbsp; 87670 |
| &nbsp;&nbsp;&nbsp; 5.60%, 10/15/44 |  | 59 | &nbsp;&nbsp; 53633 |
| Burlington Resources LLC, 5.95%, 10/15/36 |  | 685 | &nbsp;&nbsp; 736510 |
| Caturus Energy LLC, 8.50%, 02/15/30<sup>(b)</sup> |  | 383 | &nbsp;&nbsp; 398767 |
| Chord Energy Corp., 6.75%, 03/15/33<sup>(b)</sup> |  | 58 | &nbsp;&nbsp; 58765 |
| CITGO Petroleum Corp., 8.38%, 01/15/29<sup>(b)</sup> |  | 322 | &nbsp;&nbsp; 334620 |
| Civitas Resources, Inc.<sup>(b)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp; 8.38%, 07/01/28 |  | 56 | &nbsp;&nbsp; 58047 |
| &nbsp;&nbsp;&nbsp; 8.75%, 07/01/31 |  | 95 | &nbsp;&nbsp; 97329 |
| CNX Midstream Partners LP, 4.75%, 04/15/30<sup>(b)</sup> |  | 66 | &nbsp;&nbsp; 63290 |
| CNX Resources Corp., 7.25%, 03/01/32<sup>(b)</sup> |  | 60 | &nbsp;&nbsp; 62246 |
| Comstock Resources, Inc.<sup>(b)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp; 6.75%, 03/01/29 |  | 401 | &nbsp;&nbsp; 400031 |
| &nbsp;&nbsp;&nbsp; 5.88%, 01/15/30 |  | 201 | &nbsp;&nbsp; 193574 |
| ConocoPhillips Co., 3.76%, 03/15/42 |  | 600 | &nbsp;&nbsp; 492387 |
| &nbsp;&nbsp;&nbsp; CQP Holdco LP/BIP-V Chinook Holdco LLC, 5.50%, <br> 06/15/31<sup>(b)</sup><br>|  | 500 | &nbsp;&nbsp; 495352 |
| Crescent Energy Finance LLC<sup>(b)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp; 7.63%, 04/01/32 |  | 210 | &nbsp;&nbsp; 208550 |
| &nbsp;&nbsp;&nbsp; 7.38%, 01/15/33 |  | 356 | &nbsp;&nbsp; 346625 |
| &nbsp;&nbsp;&nbsp; 8.38%, 01/15/34 |  | 202 | &nbsp;&nbsp; 204666 |
| &nbsp;&nbsp;&nbsp; Delek Logistics Partners LP/Delek Logistics Finance <br> Corp., 7.38%, 06/30/33<sup>(b)</sup><br>|  | 219 | &nbsp;&nbsp; 222700 |
| Devon Energy Corp., 5.60%, 07/15/41 |  | 300 | &nbsp;&nbsp; 288801 |
| &nbsp;&nbsp;&nbsp; Diamond Foreign Asset Co./Diamond Finance LLC, <br> 8.50%, 10/01/30<sup>(b)</sup><br>|  | 89 | &nbsp;&nbsp; 94312 |
| Ecopetrol SA, 8.88%, 01/13/33 |  | 175 | &nbsp;&nbsp; 189849 |

---

---

| | | | |
|:---|:---|:---|:---|
| *Security* |  | *Par*<br> *(000)*<br>| *Value* |
| **Oil, Gas & Consumable Fuels (continued)** | **Oil, Gas & Consumable Fuels (continued)** | **Oil, Gas & Consumable Fuels (continued)** | **Oil, Gas & Consumable Fuels (continued)** |
| eG Global Finance PLC, 12.00%, 11/30/28<sup>(b)</sup> | USD | 209 | &nbsp;&nbsp; $229556 |
| Energy Transfer LP |  |  |  |
| &nbsp;&nbsp;&nbsp; 6.25%, 04/15/49 |  | 540 | &nbsp;&nbsp; 545082 |
| &nbsp;&nbsp;&nbsp; (5-year CMT + 4.02%), 8.00%, 05/15/54<sup>(a)</sup> |  | 342 | &nbsp;&nbsp; 365469 |
| &nbsp;&nbsp;&nbsp; Series H, (5-year CMT + 5.69%), 6.50%<sup>(a)(i)</sup> |  | 4275 | &nbsp;&nbsp; 4290946 |
| Enterprise Products Operating LLC, 6.13%, 10/15/39 |  | 1400 | &nbsp;&nbsp; 1513557 |
| EOG Resources, Inc., 5.10%, 01/15/36 |  | 200 | &nbsp;&nbsp; 201836 |
| EQT Corp., 4.50%, 01/15/29 |  | 13 | &nbsp;&nbsp; 13002 |
| Excelerate Energy LP, 8.00%, 05/15/30<sup>(b)</sup> |  | 100 | &nbsp;&nbsp; 106447 |
| Genesis Energy LP/Genesis Energy Finance Corp. |  |  |  |
| &nbsp;&nbsp;&nbsp; 7.75%, 02/01/28 |  | 118 | &nbsp;&nbsp; 118831 |
| &nbsp;&nbsp;&nbsp; 7.88%, 05/15/32 |  | 109 | &nbsp;&nbsp; 113682 |
| &nbsp;&nbsp;&nbsp; 8.00%, 05/15/33 |  | 66 | &nbsp;&nbsp; 69033 |
| &nbsp;&nbsp;&nbsp; Global Partners LP/GLP Finance Corp., 7.13%, <br> 07/01/33<sup>(b)</sup><br>|  | 66 | &nbsp;&nbsp; 67649 |
| Gran Tierra Energy, Inc., 9.50%, 10/15/29<sup>(b)</sup> |  | 200 | &nbsp;&nbsp; 168500 |
| Greensaif Pipelines Bidco SARL, 5.85%, 02/23/36<sup>(b)</sup> |  | 200 | &nbsp;&nbsp; 209804 |
| Gulfport Energy Operating Corp., 6.75%, 09/01/29<sup>(b)</sup> |  | 99 | &nbsp;&nbsp; 101593 |
| Harvest Midstream I LP, 7.50%, 05/15/32<sup>(b)</sup> |  | 58 | &nbsp;&nbsp; 59247 |
| Hess Corp., 4.30%, 04/01/27 |  | 1100 | &nbsp;&nbsp; 1103632 |
| Hess Midstream Operations LP<sup>(b)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp; 6.50%, 06/01/29 |  | 150 | &nbsp;&nbsp; 154700 |
| &nbsp;&nbsp;&nbsp; 4.25%, 02/15/30 |  | 67 | &nbsp;&nbsp; 64939 |
| Hilcorp Energy I LP/Hilcorp Finance Co.<sup>(b)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp; 6.25%, 11/01/28 |  | 70 | &nbsp;&nbsp; 70173 |
| &nbsp;&nbsp;&nbsp; 5.75%, 02/01/29 |  | 94 | &nbsp;&nbsp; 92599 |
| &nbsp;&nbsp;&nbsp; 6.00%, 04/15/30 |  | 12 | &nbsp;&nbsp; 11793 |
| &nbsp;&nbsp;&nbsp; 6.25%, 04/15/32 |  | 9 | &nbsp;&nbsp; 8634 |
| &nbsp;&nbsp;&nbsp; 8.38%, 11/01/33 |  | 269 | &nbsp;&nbsp; 282525 |
| &nbsp;&nbsp;&nbsp; 6.88%, 05/15/34 |  | 141 | &nbsp;&nbsp; 135564 |
| &nbsp;&nbsp;&nbsp; 7.25%, 02/15/35 |  | 78 | &nbsp;&nbsp; 76228 |
| Howard Midstream Energy Partners LLC<sup>(b)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp; 7.38%, 07/15/32 |  | 27 | &nbsp;&nbsp; 28027 |
| &nbsp;&nbsp;&nbsp; 6.63%, 01/15/34 |  | 182 | &nbsp;&nbsp; 185563 |
| Impulsora Pipeline LLC, 6.05%, 01/01/43 |  | 1489 | &nbsp;&nbsp; 1286608 |
| ITT Holdings LLC, 6.50%, 08/01/29<sup>(b)(f)</sup> |  | 391 | &nbsp;&nbsp; 384406 |
| Kinder Morgan, Inc., 5.05%, 02/15/46 |  | 1400 | &nbsp;&nbsp; 1268769 |
| Kinetik Holdings LP<sup>(b)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp; 6.63%, 12/15/28 |  | 36 | &nbsp;&nbsp; 36951 |
| &nbsp;&nbsp;&nbsp; 5.88%, 06/15/30 |  | 11 | &nbsp;&nbsp; 11064 |
| &nbsp;&nbsp;&nbsp; Magnolia Oil & Gas Operating LLC/Magnolia Oil & Gas <br> Finance Corp., 6.88%, 12/01/32<sup>(b)</sup><br>|  | 78 | &nbsp;&nbsp; 80045 |
| Marathon Petroleum Corp., 6.50%, 03/01/41<sup>(f)</sup> |  | 1150 | &nbsp;&nbsp; 1239596 |
| Matador Resources Co.<sup>(b)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp; 6.88%, 04/15/28<sup>(f)</sup> |  | 139 | &nbsp;&nbsp; 141855 |
| &nbsp;&nbsp;&nbsp; 6.50%, 04/15/32 |  | 159 | &nbsp;&nbsp; 160521 |
| &nbsp;&nbsp;&nbsp; MC Brazil Downstream Trading SARL, 7.25%, <br> 06/30/31<sup>(d)</sup><br>|  | 182 | &nbsp;&nbsp; 156353 |
| MPLX LP |  |  |  |
| &nbsp;&nbsp;&nbsp; 4.25%, 12/01/27 |  | 250 | &nbsp;&nbsp; 250243 |
| &nbsp;&nbsp;&nbsp; 4.80%, 02/15/29 |  | 500 | &nbsp;&nbsp; 506957 |
| Murphy Oil Corp., 5.88%, 12/01/42 |  | 18 | &nbsp;&nbsp; 15739 |
| Nabors Industries, Inc., 7.38%, 05/15/27<sup>(b)</sup> |  | 81 | &nbsp;&nbsp; 82224 |
| &nbsp;&nbsp;&nbsp; NGL Energy Operating LLC/NGL Energy Finance <br> Corp.<sup>(b)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp; 8.13%, 02/15/29 |  | 189 | &nbsp;&nbsp; 193785 |
| &nbsp;&nbsp;&nbsp; 8.38%, 02/15/32 |  | 496 | &nbsp;&nbsp; 508224 |
| Noble Finance II LLC, 8.00%, 04/15/30<sup>(b)</sup> |  | 105 | &nbsp;&nbsp; 108681 |
| Northern Oil & Gas, Inc.<sup>(b)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp; 8.13%, 03/01/28 |  | 478 | &nbsp;&nbsp; 484749 |
| &nbsp;&nbsp;&nbsp; 10/15/33<sup>(g)</sup> |  | 296 | &nbsp;&nbsp; 294829 |

---

------

Schedule of Investments (unaudited)(continued)

September 30, 2025

**BlackRock Core Bond Trust (BHK)** 

**(Percentages shown are based on Net Assets)**

---

| | | | |
|:---|:---|:---|:---|
| *Security* |  | *Par*<br> *(000)*<br>| *Value* |
| **Oil, Gas & Consumable Fuels (continued)** | **Oil, Gas & Consumable Fuels (continued)** | **Oil, Gas & Consumable Fuels (continued)** | **Oil, Gas & Consumable Fuels (continued)** |
| Northriver Midstream Finance LP, 6.75%, 07/15/32<sup>(b)</sup> | USD | 93 | &nbsp;&nbsp; $95101 |
| Parkland Corp., 6.63%, 08/15/32<sup>(b)</sup> |  | 101 | &nbsp;&nbsp; 103784 |
| &nbsp;&nbsp;&nbsp; PBF Holding Co. LLC/PBF Finance Corp., 7.88%, <br> 09/15/30<sup>(b)</sup><br>|  | 112 | &nbsp;&nbsp; 110580 |
| Permian Resources Operating LLC<sup>(b)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp; 8.00%, 04/15/27 |  | 189 | &nbsp;&nbsp; 191936 |
| &nbsp;&nbsp;&nbsp; 5.88%, 07/01/29 |  | 170 | &nbsp;&nbsp; 170761 |
| &nbsp;&nbsp;&nbsp; 7.00%, 01/15/32 |  | 144 | &nbsp;&nbsp; 149348 |
| &nbsp;&nbsp;&nbsp; 6.25%, 02/01/33 |  | 137 | &nbsp;&nbsp; 139556 |
| Petrobras Global Finance BV, 6.75%, 01/27/41 |  | 140 | &nbsp;&nbsp; 141321 |
| Petroleos Mexicanos |  |  |  |
| &nbsp;&nbsp;&nbsp; 8.75%, 06/02/29 |  | 165 | &nbsp;&nbsp; 178219 |
| &nbsp;&nbsp;&nbsp; 5.95%, 01/28/31 |  | 152 | &nbsp;&nbsp; 147364 |
| &nbsp;&nbsp;&nbsp; Pluspetrol Camisea SA/Pluspetrol Lote 56 SA, 6.24%, <br> 07/03/36<sup>(b)</sup><br>|  | 50 | &nbsp;&nbsp; 53370 |
| Prairie Acquiror LP, 9.00%, 08/01/29<sup>(b)</sup> |  | 113 | &nbsp;&nbsp; 117645 |
| Raizen Fuels Finance SA, 6.45%, 03/05/34<sup>(b)</sup> |  | 200 | &nbsp;&nbsp; 194000 |
| Rockies Express Pipeline LLC, 4.95%, 07/15/29<sup>(b)</sup> |  | 36 | &nbsp;&nbsp; 35708 |
| Sabine Pass Liquefaction LLC, 5.00%, 03/15/27 |  | 1750 | &nbsp;&nbsp; 1760582 |
| Sunoco LP<sup>(b)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp; 5.63%, 03/15/31 |  | 74 | &nbsp;&nbsp; 73454 |
| &nbsp;&nbsp;&nbsp; 6.25%, 07/01/33 |  | 134 | &nbsp;&nbsp; 136391 |
| &nbsp;&nbsp;&nbsp; 5.88%, 03/15/34 |  | 75 | &nbsp;&nbsp; 74351 |
| &nbsp;&nbsp;&nbsp; Tallgrass Energy Partners LP/Tallgrass Energy Finance <br> Corp.<sup>(b)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp; 5.50%, 01/15/28 |  | 95 | &nbsp;&nbsp; 94517 |
| &nbsp;&nbsp;&nbsp; 7.38%, 02/15/29 |  | 302 | &nbsp;&nbsp; 311013 |
| &nbsp;&nbsp;&nbsp; 6.00%, 12/31/30 |  | 2 | &nbsp;&nbsp; 1975 |
| &nbsp;&nbsp;&nbsp; 6.00%, 09/01/31 |  | 67 | &nbsp;&nbsp; 65554 |
| TGNR Intermediate Holdings LLC, 5.50%, 10/15/29<sup>(b)</sup> |  | 119 | &nbsp;&nbsp; 116447 |
| TransCanada PipeLines Ltd., 5.60%, 03/31/34 |  | 500 | &nbsp;&nbsp; 517261 |
| TransMontaigne Partners LLC, 8.50%, 06/15/30<sup>(b)</sup> |  | 30 | &nbsp;&nbsp; 31261 |
| Transocean International Ltd.<sup>(b)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp; 8.00%, 02/01/27<sup>(f)</sup> |  | 309 | &nbsp;&nbsp; 308570 |
| &nbsp;&nbsp;&nbsp; 8.25%, 05/15/29 |  | 75 | &nbsp;&nbsp; 73940 |
| &nbsp;&nbsp;&nbsp; 8.75%, 02/15/30 |  | 18 | &nbsp;&nbsp; 18939 |
| &nbsp;&nbsp;&nbsp; 8.50%, 05/15/31 |  | 110 | &nbsp;&nbsp; 107803 |
| &nbsp;&nbsp;&nbsp; 10/15/32<sup>(g)</sup> |  | 117 | &nbsp;&nbsp; 117000 |
| Transocean Titan Financing Ltd., 8.38%, 02/01/28<sup>(b)</sup> |  | 45 | &nbsp;&nbsp; 45619 |
| Valaris Ltd., 8.38%, 04/30/30<sup>(b)</sup> |  | 300 | &nbsp;&nbsp; 311353 |
| Venture Global LNG, Inc.<sup>(b)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp; 9.50%, 02/01/29 |  | 1385 | &nbsp;&nbsp; 1526305 |
| &nbsp;&nbsp;&nbsp; 7.00%, 01/15/30 |  | 97 | &nbsp;&nbsp; 100372 |
| &nbsp;&nbsp;&nbsp; 8.38%, 06/01/31<sup>(f)</sup> |  | 815 | &nbsp;&nbsp; 855726 |
| &nbsp;&nbsp;&nbsp; 9.88%, 02/01/32 |  | 803 | &nbsp;&nbsp; 874245 |
| Venture Global Plaquemines LNG LLC<sup>(b)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp; 7.50%, 05/01/33 |  | 241 | &nbsp;&nbsp; 266307 |
| &nbsp;&nbsp;&nbsp; 6.50%, 01/15/34 |  | 530 | &nbsp;&nbsp; 557908 |
| &nbsp;&nbsp;&nbsp; 7.75%, 05/01/35 |  | 240 | &nbsp;&nbsp; 270890 |
| &nbsp;&nbsp;&nbsp; 6.75%, 01/15/36 |  | 552 | &nbsp;&nbsp; 586322 |
| Vista Energy Argentina SAU, 8.50%, 06/10/33<sup>(b)</sup> |  | 76 | &nbsp;&nbsp; 77444 |
| Vital Energy, Inc. |  |  |  |
| &nbsp;&nbsp;&nbsp; 7.75%, 07/31/29<sup>(b)</sup> |  | 59 | &nbsp;&nbsp; 58428 |
| &nbsp;&nbsp;&nbsp; 9.75%, 10/15/30 |  | 165 | &nbsp;&nbsp; 172270 |
| &nbsp;&nbsp;&nbsp; 7.88%, 04/15/32<sup>(b)(f)</sup> |  | 349 | &nbsp;&nbsp; 338787 |
| Wildfire Intermediate Holdings LLC, 7.50%, 10/15/29<sup>(b)</sup> |  | 133 | &nbsp;&nbsp; 134380 |
|  |  |  | &nbsp;&nbsp; 36053541 |
| **Passenger Airlines — 0.3%** | **Passenger Airlines — 0.3%** | **Passenger Airlines — 0.3%** | **Passenger Airlines — 0.3%** |
| American Airlines Pass-Through Trust |  |  |  |
| &nbsp;&nbsp;&nbsp; Series 2015-2, Class A, 4.00%, 03/22/29 |  | 825 | &nbsp;&nbsp; 803936 |
| &nbsp;&nbsp;&nbsp; Series 2015-2, Class AA, 3.60%, 03/22/29 |  | 825 | &nbsp;&nbsp; 808288 |

---

---

| | | | |
|:---|:---|:---|:---|
| *Security* |  | *Par*<br> *(000)*<br>| *Value* |
| **Passenger Airlines (continued)** | **Passenger Airlines (continued)** | **Passenger Airlines (continued)** | **Passenger Airlines (continued)** |
| American Airlines, Inc., 8.50%, 05/15/29<sup>(b)</sup> | USD | 225 | &nbsp;&nbsp; $234709 |
| &nbsp;&nbsp;&nbsp; American Airlines, Inc./AAdvantage Loyalty IP Ltd., <br> 5.75%, 04/20/29<sup>(b)</sup><br>|  | 35 | &nbsp;&nbsp; 35134 |
| &nbsp;&nbsp;&nbsp; JetBlue Airways Corp./JetBlue Loyalty LP, 9.88%, <br> 09/20/31<sup>(b)</sup><br>|  | 150 | &nbsp;&nbsp; 152141 |
| OneSky Flight LLC, 8.88%, 12/15/29<sup>(b)</sup> |  | 133 | &nbsp;&nbsp; 139857 |
| United Airlines, Inc., 4.63%, 04/15/29<sup>(b)(f)</sup> |  | 90 | &nbsp;&nbsp; 88622 |
|  |  |  | &nbsp;&nbsp; 2262687 |
| **Personal Care Products — 0.1%** | **Personal Care Products — 0.1%** | **Personal Care Products — 0.1%** | **Personal Care Products — 0.1%** |
| Opal Bidco SAS |  |  |  |
| &nbsp;&nbsp;&nbsp; 5.50%, 03/31/32<sup>(d)</sup> | EUR | 100 | &nbsp;&nbsp; 121513 |
| &nbsp;&nbsp;&nbsp; 6.50%, 03/31/32<sup>(b)</sup> | USD | 400 | &nbsp;&nbsp; 409898 |
| Perrigo Finance Unlimited Co., 6.13%, 09/30/32 |  | 127 | &nbsp;&nbsp; 127851 |
|  |  |  | &nbsp;&nbsp; 659262 |
| **Pharmaceuticals — 1.6%** | **Pharmaceuticals — 1.6%** | **Pharmaceuticals — 1.6%** | **Pharmaceuticals — 1.6%** |
| 1261229 B.C. Ltd., 10.00%, 04/15/32<sup>(b)</sup> |  | 2000 | &nbsp;&nbsp; 2050104 |
| AbbVie, Inc. |  |  |  |
| &nbsp;&nbsp;&nbsp; 3.20%, 05/14/26 |  | 500 | &nbsp;&nbsp; 497698 |
| &nbsp;&nbsp;&nbsp; 4.30%, 05/14/36 |  | 2670 | &nbsp;&nbsp; 2566053 |
| &nbsp;&nbsp;&nbsp; 4.88%, 11/14/48 |  | 2095 | &nbsp;&nbsp; 1942967 |
| Amneal Pharmaceuticals LLC, 6.88%, 08/01/32<sup>(b)</sup> |  | 105 | &nbsp;&nbsp; 108592 |
| Bausch Health Cos., Inc.<sup>(b)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp; 4.88%, 06/01/28 |  | 32 | &nbsp;&nbsp; 28640 |
| &nbsp;&nbsp;&nbsp; 11.00%, 09/30/28 |  | 624 | &nbsp;&nbsp; 648972 |
| Becton Dickinson & Co. |  |  |  |
| &nbsp;&nbsp;&nbsp; 4.30%, 08/22/32 |  | 750 | &nbsp;&nbsp; 738349 |
| &nbsp;&nbsp;&nbsp; 4.69%, 12/15/44 |  | 600 | &nbsp;&nbsp; 537337 |
| Bristol-Myers Squibb Co. |  |  |  |
| &nbsp;&nbsp;&nbsp; 4.50%, 03/01/44 |  | 350 | &nbsp;&nbsp; 311553 |
| &nbsp;&nbsp;&nbsp; 4.35%, 11/15/47 |  | 300 | &nbsp;&nbsp; 255763 |
| CVS Health Corp., 6.00%, 06/01/44 |  | 700 | &nbsp;&nbsp; 710159 |
| Dolcetto Holdco SpA, 5.63%, 07/14/32<sup>(d)</sup> | EUR | 100 | &nbsp;&nbsp; 120369 |
| Grifols SA, 2.25%, 11/15/27<sup>(d)</sup> |  | 100 | &nbsp;&nbsp; 115438 |
| Nidda Healthcare Holding GmbH, 7.00%, 02/21/30<sup>(d)</sup> |  | 100 | &nbsp;&nbsp; 122390 |
| Option Care Health, Inc., 4.38%, 10/31/29<sup>(b)</sup> | USD | 76 | &nbsp;&nbsp; 73296 |
| &nbsp;&nbsp;&nbsp; Rossini SARL, (3-mo. EURIBOR + 3.88%), 5.88%, <br> 12/31/29<sup>(a)(d)</sup><br>| EUR | 42 | &nbsp;&nbsp; 50456 |
| Takeda Pharmaceutical Co. Ltd., 2.05%, 03/31/30 | USD | 500 | &nbsp;&nbsp; 454086 |
| Teva Pharmaceutical Finance Netherlands III BV |  |  |  |
| &nbsp;&nbsp;&nbsp; 3.15%, 10/01/26 |  | 163 | &nbsp;&nbsp; 159740 |
| &nbsp;&nbsp;&nbsp; 6.00%, 12/01/32 |  | 200 | &nbsp;&nbsp; 207750 |
|  |  |  | &nbsp;&nbsp; 11699712 |
| **Real Estate Management & Development — 0.3%** | **Real Estate Management & Development — 0.3%** | **Real Estate Management & Development — 0.3%** | **Real Estate Management & Development — 0.3%** |
| &nbsp;&nbsp;&nbsp; Adler Financing SARL, Series 1L, (8.25% PIK), 8.25%, <br> 12/31/28<sup>(h)</sup><br>| EUR | 25 | &nbsp;&nbsp; 31271 |
| &nbsp;&nbsp;&nbsp; Alexandrite Lake Lux Holdings SARL, 6.75%, <br> 07/30/30<sup>(d)</sup><br>|  | 100 | &nbsp;&nbsp; 120108 |
| Alpha Star Holding IX Ltd., 7.00%, 08/26/28<sup>(d)</sup> | USD | 200 | &nbsp;&nbsp; 204900 |
| &nbsp;&nbsp;&nbsp; Anywhere Real Estate Group LLC/Anywhere Co-Issuer <br> Corp.<br>|  |  |  |
| &nbsp;&nbsp;&nbsp; 7.00%, 04/15/30<sup>(b)</sup> |  | 135 | &nbsp;&nbsp; 136222 |
| &nbsp;&nbsp;&nbsp; Series AI, 7.00%, 04/15/30 |  | 158 | &nbsp;&nbsp; 159491 |
| &nbsp;&nbsp;&nbsp; Anywhere Real Estate Group LLC/Realogy Co-Issuer <br> Corp., 9.75%, 04/15/30<sup>(b)</sup><br>|  | 183 | &nbsp;&nbsp; 199714 |
| &nbsp;&nbsp;&nbsp; Cushman & Wakefield U.S. Borrower LLC, 8.88%, <br> 09/01/31<sup>(b)</sup><br>|  | 213 | &nbsp;&nbsp; 227340 |
| Fantasia Holdings Group Co. Ltd.<sup>(d)(e)(m)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp; 11.75%, 04/17/22 |  | 200 | &nbsp;&nbsp; 2250 |
| &nbsp;&nbsp;&nbsp; 10.88%, 01/09/23 |  | 307 | &nbsp;&nbsp; 5986 |
| &nbsp;&nbsp;&nbsp; 11.88%, 06/01/23 |  | 400 | &nbsp;&nbsp; 6000 |
| &nbsp;&nbsp;&nbsp; 9.25%, 07/28/23 |  | 300 | &nbsp;&nbsp; 4500 |

---

Schedule of Investments

------

Schedule of Investments (unaudited)(continued)

September 30, 2025

**BlackRock Core Bond Trust (BHK)** 

**(Percentages shown are based on Net Assets)**

---

| | | | |
|:---|:---|:---|:---|
| *Security* |  | *Par*<br> *(000)*<br>| *Value* |
| **Real Estate Management & Development (continued)** | **Real Estate Management & Development (continued)** | **Real Estate Management & Development (continued)** | **Real Estate Management & Development (continued)** |
| Five Point Operating Co. LP, 8.00%, 10/01/30<sup>(b)</sup> | USD | 50 | &nbsp;&nbsp; $50738 |
| i-595 Express LLC, 3.31%, 12/31/31 |  | 574 | &nbsp;&nbsp; 550033 |
| &nbsp;&nbsp;&nbsp; Vivion Investments SARL, (6.50% PIK), 6.50%, <br> 08/31/28<sup>(d)(h)</sup><br>| EUR | 101 | &nbsp;&nbsp; 118886 |
|  |  |  | &nbsp;&nbsp; 1817439 |
| **Retail REITs — 0.3%** | **Retail REITs — 0.3%** | **Retail REITs — 0.3%** | **Retail REITs — 0.3%** |
| &nbsp;&nbsp;&nbsp; Brookfield Property REIT, Inc./BPR Cumulus LLC/BPR <br> Nimbus LLC/GGSI Sellco LLC, 4.50%, 04/01/27<sup>(b)</sup><br>| USD | 109 | &nbsp;&nbsp; 107055 |
| Simon Property Group LP, 6.75%, 02/01/40 |  | 1670 | &nbsp;&nbsp; 1923889 |
|  |  |  | &nbsp;&nbsp; 2030944 |
| **Semiconductors & Semiconductor Equipment — 1.2%** | **Semiconductors & Semiconductor Equipment — 1.2%** | **Semiconductors & Semiconductor Equipment — 1.2%** | **Semiconductors & Semiconductor Equipment — 1.2%** |
| Amkor Technology, Inc., 5.88%, 10/01/33<sup>(b)</sup> |  | 46 | &nbsp;&nbsp; 46468 |
| Broadcom, Inc. |  |  |  |
| &nbsp;&nbsp;&nbsp; 4.75%, 04/15/29 |  | 2500 | &nbsp;&nbsp; 2550791 |
| &nbsp;&nbsp;&nbsp; 4.15%, 04/15/32<sup>(b)</sup> |  | 1500 | &nbsp;&nbsp; 1470998 |
| &nbsp;&nbsp;&nbsp; 3.47%, 04/15/34<sup>(b)</sup> |  | 700 | &nbsp;&nbsp; 638821 |
| &nbsp;&nbsp;&nbsp; 3.50%, 02/15/41<sup>(b)</sup> |  | 700 | &nbsp;&nbsp; 576049 |
| Intel Corp. |  |  |  |
| &nbsp;&nbsp;&nbsp; 5.13%, 02/10/30 |  | 750 | &nbsp;&nbsp; 771794 |
| &nbsp;&nbsp;&nbsp; 2.00%, 08/12/31<sup>(f)</sup> |  | 1000 | &nbsp;&nbsp; 874736 |
| KLA Corp., 5.00%, 03/15/49 |  | 500 | &nbsp;&nbsp; 473496 |
| QUALCOMM, Inc. |  |  |  |
| &nbsp;&nbsp;&nbsp; 4.25%, 05/20/32 |  | 445 | &nbsp;&nbsp; 445136 |
| &nbsp;&nbsp;&nbsp; 5.40%, 05/20/33 |  | 250 | &nbsp;&nbsp; 265639 |
| &nbsp;&nbsp;&nbsp; 4.30%, 05/20/47 |  | 700 | &nbsp;&nbsp; 599691 |
|  |  |  | &nbsp;&nbsp; 8713619 |
| **Software — 2.1%** | **Software — 2.1%** | **Software — 2.1%** | **Software — 2.1%** |
| AthenaHealth Group, Inc., 6.50%, 02/15/30<sup>(b)(f)</sup> |  | 1917 | &nbsp;&nbsp; 1901315 |
| Camelot Finance SA, 4.50%, 11/01/26<sup>(b)</sup> |  | 35 | &nbsp;&nbsp; 34880 |
| Capstone Borrower, Inc., 8.00%, 06/15/30<sup>(b)</sup> |  | 561 | &nbsp;&nbsp; 586689 |
| &nbsp;&nbsp;&nbsp; Central Parent LLC/CDK Global II LLC/CDK Financing <br> Co., Inc., 8.00%, 06/15/29<sup>(b)</sup><br>|  | 127 | &nbsp;&nbsp; 111919 |
| &nbsp;&nbsp;&nbsp; Central Parent, Inc./CDK Global, Inc., 7.25%, <br> 06/15/29<sup>(b)</sup><br>|  | 95 | &nbsp;&nbsp; 81800 |
| Cloud Software Group, Inc.<sup>(b)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp; 6.50%, 03/31/29 |  | 1461 | &nbsp;&nbsp; 1474179 |
| &nbsp;&nbsp;&nbsp; 9.00%, 09/30/29<sup>(f)</sup> |  | 2205 | &nbsp;&nbsp; 2287040 |
| &nbsp;&nbsp;&nbsp; 8.25%, 06/30/32 |  | 759 | &nbsp;&nbsp; 805112 |
| CoreLogic, Inc., 4.50%, 05/01/28<sup>(b)</sup> |  | 592 | &nbsp;&nbsp; 574004 |
| CoreWeave, Inc., 9.25%, 06/01/30<sup>(b)</sup> |  | 233 | &nbsp;&nbsp; 240641 |
| Electronic Arts, Inc., 2.95%, 02/15/51 |  | 93 | &nbsp;&nbsp; 80653 |
| Ellucian Holdings, Inc., 6.50%, 12/01/29<sup>(b)</sup> |  | 172 | &nbsp;&nbsp; 174738 |
| Microsoft Corp., 2.53%, 06/01/50 |  | 1600 | &nbsp;&nbsp; 1012915 |
| Oracle Corp. |  |  |  |
| &nbsp;&nbsp;&nbsp; 3.60%, 04/01/40 |  | 3025 | &nbsp;&nbsp; 2429502 |
| &nbsp;&nbsp;&nbsp; 3.60%, 04/01/50 |  | 400 | &nbsp;&nbsp; 281584 |
| &nbsp;&nbsp;&nbsp; 3.95%, 03/25/51 |  | 600 | &nbsp;&nbsp; 446105 |
| &nbsp;&nbsp;&nbsp; 6.13%, 08/03/65 |  | 600 | &nbsp;&nbsp; 602321 |
| Playtika Holding Corp., 4.25%, 03/15/29<sup>(b)</sup> |  | 7 | &nbsp;&nbsp; 6426 |
| SS&C Technologies, Inc., 6.50%, 06/01/32<sup>(b)</sup> |  | 290 | &nbsp;&nbsp; 299813 |
| Twilio, Inc. |  |  |  |
| &nbsp;&nbsp;&nbsp; 3.63%, 03/15/29 |  | 73 | &nbsp;&nbsp; 69563 |
| &nbsp;&nbsp;&nbsp; 3.88%, 03/15/31 |  | 73 | &nbsp;&nbsp; 68640 |
| UKG, Inc., 6.88%, 02/01/31<sup>(b)</sup> |  | 1419 | &nbsp;&nbsp; 1464174 |
| &nbsp;&nbsp;&nbsp; ZoomInfo Technologies LLC/ZoomInfo Finance Corp., <br> 3.88%, 02/01/29<sup>(b)</sup><br>|  | 147 | &nbsp;&nbsp; 139329 |
|  |  |  | &nbsp;&nbsp; 15173342 |

---

---

| | | | |
|:---|:---|:---|:---|
| *Security* |  | *Par*<br> *(000)*<br>| *Value* |
| **Specialty Retail**<sup>(b)</sup> **— 0.0%** | **Specialty Retail**<sup>(b)</sup> **— 0.0%** | **Specialty Retail**<sup>(b)</sup> **— 0.0%** | **Specialty Retail**<sup>(b)</sup> **— 0.0%** |
| Advance Auto Parts, Inc., 7.00%, 08/01/30 | USD | 101 | &nbsp;&nbsp; $103914 |
| Staples, Inc., 10.75%, 09/01/29 |  | 103 | &nbsp;&nbsp; 101843 |
|  |  |  | &nbsp;&nbsp; 205757 |
| **Technology Hardware, Storage & Peripherals — 0.3%** | **Technology Hardware, Storage & Peripherals — 0.3%** | **Technology Hardware, Storage & Peripherals — 0.3%** | **Technology Hardware, Storage & Peripherals — 0.3%** |
| Apple, Inc. |  |  |  |
| &nbsp;&nbsp;&nbsp; 4.38%, 05/13/45 |  | 1000 | &nbsp;&nbsp; 904600 |
| &nbsp;&nbsp;&nbsp; 3.75%, 09/12/47 |  | 700 | &nbsp;&nbsp; 562901 |
| Seagate Data Storage Technology Pte Ltd.<sup>(b)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp; 8.25%, 12/15/29 |  | 174 | &nbsp;&nbsp; 184197 |
| &nbsp;&nbsp;&nbsp; 5.88%, 07/15/30 |  | 132 | &nbsp;&nbsp; 134299 |
| &nbsp;&nbsp;&nbsp; 8.50%, 07/15/31 |  | 111 | &nbsp;&nbsp; 117511 |
|  |  |  | &nbsp;&nbsp; 1903508 |
| **Textiles, Apparel & Luxury Goods — 0.2%** | **Textiles, Apparel & Luxury Goods — 0.2%** | **Textiles, Apparel & Luxury Goods — 0.2%** | **Textiles, Apparel & Luxury Goods — 0.2%** |
| Beach Acquisition Bidco LLC<sup>(b)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp; 5.25%, 07/15/32 | EUR | 270 | &nbsp;&nbsp; 324945 |
| &nbsp;&nbsp;&nbsp; (10.00% PIK), 10.00%, 07/15/33<sup>(h)</sup> | USD | 653 | &nbsp;&nbsp; 704366 |
| Hanesbrands, Inc., 9.00%, 02/15/31<sup>(b)</sup> |  | 8 | &nbsp;&nbsp; 8467 |
| Levi Strauss & Co.<sup>(b)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp; 4.00%, 08/15/30 | EUR | 100 | &nbsp;&nbsp; 119134 |
| &nbsp;&nbsp;&nbsp; 3.50%, 03/01/31 | USD | 11 | &nbsp;&nbsp; 10213 |
| &nbsp;&nbsp;&nbsp; PrestigeBidCo GmbH, (3-mo. EURIBOR + 3.75%), <br> 5.78%, 07/01/29<sup>(a)(d)</sup><br>| EUR | 100 | &nbsp;&nbsp; 118071 |
|  |  |  | &nbsp;&nbsp; 1285196 |
| **Tobacco — 0.9%** | **Tobacco — 0.9%** | **Tobacco — 0.9%** | **Tobacco — 0.9%** |
| Altria Group, Inc. |  |  |  |
| &nbsp;&nbsp;&nbsp; 2.45%, 02/04/32 | USD | 200 | &nbsp;&nbsp; 176054 |
| &nbsp;&nbsp;&nbsp; 5.38%, 01/31/44<sup>(f)</sup> |  | 2000 | &nbsp;&nbsp; 1966981 |
| BAT Capital Corp. |  |  |  |
| &nbsp;&nbsp;&nbsp; 3.22%, 09/06/26 |  | 394 | &nbsp;&nbsp; 390965 |
| &nbsp;&nbsp;&nbsp; 7.08%, 08/02/43 |  | 500 | &nbsp;&nbsp; 565841 |
| &nbsp;&nbsp;&nbsp; 4.54%, 08/15/47 |  | 1500 | &nbsp;&nbsp; 1257809 |
| Philip Morris International, Inc., 5.38%, 02/15/33 |  | 1000 | &nbsp;&nbsp; 1044315 |
| Reynolds American, Inc., 7.00%, 08/04/41 |  | 1000 | &nbsp;&nbsp; 1081698 |
|  |  |  | &nbsp;&nbsp; 6483663 |
| **Transportation Infrastructure — 0.1%** | **Transportation Infrastructure — 0.1%** | **Transportation Infrastructure — 0.1%** | **Transportation Infrastructure — 0.1%** |
| FedEx Corp., 4.10%, 02/01/45 |  | 1250 | &nbsp;&nbsp; 978431 |
| **Water Utilities — 0.2%** | **Water Utilities — 0.2%** | **Water Utilities — 0.2%** | **Water Utilities — 0.2%** |
| American Water Capital Corp., 4.45%, 06/01/32 |  | 1350 | &nbsp;&nbsp; 1347265 |
| **Wireless Telecommunication Services — 1.3%** | **Wireless Telecommunication Services — 1.3%** | **Wireless Telecommunication Services — 1.3%** | **Wireless Telecommunication Services — 1.3%** |
| Altice France SA<sup>(b)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp; 5.13%, 07/15/29 |  | 600 | &nbsp;&nbsp; 512400 |
| &nbsp;&nbsp;&nbsp; 5.50%, 10/15/29 |  | 400 | &nbsp;&nbsp; 345975 |
| &nbsp;&nbsp;&nbsp; Digicel International Finance Ltd./Difl U.S. LLC, 8.63%, <br> 08/01/32<sup>(b)</sup><br>|  | 645 | &nbsp;&nbsp; 661738 |
| &nbsp;&nbsp;&nbsp; Liberty Costa Rica Senior Secured Finance, 10.88%, <br> 01/15/31<sup>(b)</sup><br>|  | 200 | &nbsp;&nbsp; 213200 |
| Rogers Communications, Inc., 7.50%, 08/15/38 |  | 2325 | &nbsp;&nbsp; 2713130 |
| Telecom Argentina SA, 9.25%, 05/28/33<sup>(b)</sup> |  | 42 | &nbsp;&nbsp; 41624 |
| T-Mobile USA, Inc. |  |  |  |
| &nbsp;&nbsp;&nbsp; 3.88%, 04/15/30 |  | 2000 | &nbsp;&nbsp; 1961177 |
| &nbsp;&nbsp;&nbsp; 2.55%, 02/15/31 |  | 500 | &nbsp;&nbsp; 454310 |
| &nbsp;&nbsp;&nbsp; 3.30%, 02/15/51 |  | 500 | &nbsp;&nbsp; 340791 |
| &nbsp;&nbsp;&nbsp; 5.80%, 09/15/62 |  | 500 | &nbsp;&nbsp; 502928 |
| Turkcell Iletisim Hizmetleri A/S, 7.65%, 01/24/32<sup>(b)</sup> |  | 200 | &nbsp;&nbsp; 209000 |
| Veon Midco BV, 3.38%, 11/25/27<sup>(b)</sup> |  | 200 | &nbsp;&nbsp; 187375 |
| Vmed O2 U.K. Financing I PLC |  |  |  |
| &nbsp;&nbsp;&nbsp; 4.25%, 01/31/31<sup>(b)</sup> |  | 600 | &nbsp;&nbsp; 556299 |
| &nbsp;&nbsp;&nbsp; 4.50%, 07/15/31<sup>(d)</sup> | GBP | 100 | &nbsp;&nbsp; 123045 |
| Vodafone Group PLC, 4.88%, 06/19/49 | USD | 700 | &nbsp;&nbsp; 621115 |

---

------

Schedule of Investments (unaudited)(continued)

September 30, 2025

**BlackRock Core Bond Trust (BHK)** 

**(Percentages shown are based on Net Assets)**

---

| | | | |
|:---|:---|:---|:---|
| *Security* |  | *Par*<br> *(000)*<br>| *Value* |
| **Wireless Telecommunication Services (continued)** | **Wireless Telecommunication Services (continued)** | **Wireless Telecommunication Services (continued)** | **Wireless Telecommunication Services (continued)** |
| WOM Mobile SA, (11.00% PIK), 11.00%, 04/01/31<sup>(b)(h)</sup> | USD | 10 | &nbsp;&nbsp; $9398 |
| Zegona Finance PLC, 6.75%, 07/15/29<sup>(d)</sup> | EUR | 90 | &nbsp;&nbsp; 111864 |
|  |  |  | &nbsp;&nbsp; 9565369 |
| **Total Corporate Bonds — 61.1%** <br>**(Cost: $442,236,621)** | **Total Corporate Bonds — 61.1%** <br>**(Cost: $442,236,621)** | **Total Corporate Bonds — 61.1%** <br>**(Cost: $442,236,621)** | &nbsp;&nbsp; 446570434 |
| **Fixed Rate Loan Interests** | **Fixed Rate Loan Interests** | **Fixed Rate Loan Interests** | **Fixed Rate Loan Interests** |
| **Diversified Consumer Services — 0.0%** | **Diversified Consumer Services — 0.0%** | **Diversified Consumer Services — 0.0%** | **Diversified Consumer Services — 0.0%** |
| &nbsp;&nbsp;&nbsp; Clover Holdings SPV III LLC, 2024 USD Term Loan, <br> 15.00%, 12/09/27<br>| USD | 16 | &nbsp;&nbsp; 16185 |
| **IT Services — 0.2%** | **IT Services — 0.2%** | **IT Services — 0.2%** | **IT Services — 0.2%** |
| &nbsp;&nbsp;&nbsp; Clover Holdings 2 LLC, Fixed Term Loan B, 7.75%, <br> 12/09/31<br>|  | 959 | &nbsp;&nbsp; 964997 |
| **Software — 0.2%** | **Software — 0.2%** | **Software — 0.2%** | **Software — 0.2%** |
| Cotiviti, Inc., 2024 Fixed Term Loan B, 7.63%, 05/01/31 |  | 1556 | &nbsp;&nbsp; 1560142 |
| **Total Fixed Rate Loan Interests — 0.4%** <br>**(Cost: $2,530,573)** | **Total Fixed Rate Loan Interests — 0.4%** <br>**(Cost: $2,530,573)** | **Total Fixed Rate Loan Interests — 0.4%** <br>**(Cost: $2,530,573)** | &nbsp;&nbsp; 2541324 |
| **Floating Rate Loan Interests**<sup>(a)</sup> | **Floating Rate Loan Interests**<sup>(a)</sup> | **Floating Rate Loan Interests**<sup>(a)</sup> | **Floating Rate Loan Interests**<sup>(a)</sup> |
| **Advertising Agencies — 0.1%** | **Advertising Agencies — 0.1%** | **Advertising Agencies — 0.1%** | **Advertising Agencies — 0.1%** |
| &nbsp;&nbsp;&nbsp; Clear Channel Outdoor Holdings, Inc., 2024 Term Loan, <br> (1-mo. CME Term SOFR at 0.00% Floor + 4.11%), <br> 8.28%, 08/23/28<br>|  | 293 | &nbsp;&nbsp; 293591 |
| &nbsp;&nbsp;&nbsp; Neptune Bidco U.S., Inc., 2022 USD Term Loan B, (3-<br> mo. CME Term SOFR + 5.10%), 9.43%, 04/11/29<br>|  | 208 | &nbsp;&nbsp; 197478 |
| &nbsp;&nbsp;&nbsp; Summer BC Holdco B SARL, 2024 USD Term Loan B, <br> (3-mo. CME Term SOFR at 0.00% Floor + 5.26%), <br> 9.26%, 02/15/29<br>|  | 44 | &nbsp;&nbsp; 43004 |
|  |  |  | &nbsp;&nbsp; 534073 |
| **Aerospace & Defense — 0.1%** | **Aerospace & Defense — 0.1%** | **Aerospace & Defense — 0.1%** | **Aerospace & Defense — 0.1%** |
| Kaman Corp. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2025 Delayed Draw Term Loan, (3-mo. CME Term <br> SOFR at 0.50% Floor + 2.50%), 6.83%, 02/26/32<br>|  | 1 | &nbsp;&nbsp; 883 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2025 Term Loan B, (6-mo. CME Term SOFR at <br> 0.50% Floor + 2.75%), 6.94%, 02/26/32<br>|  | 39 | &nbsp;&nbsp; 38920 |
| &nbsp;&nbsp;&nbsp; Signia Aerospace LLC, 2025 Term Loan, (1-mo. CME <br> Term SOFR at 0.50% Floor + 2.75%), 6.91%, <br> 12/11/31<br>|  | 79 | &nbsp;&nbsp; 78821 |
| &nbsp;&nbsp;&nbsp; TransDigm, Inc., 2025 Term Loan M, (1-mo. CME Term <br> SOFR at 0.00% Floor + 2.50%), 6.66%, 08/19/32<br>|  | 254 | &nbsp;&nbsp; 253675 |
|  |  |  | &nbsp;&nbsp; 372299 |
| **Automobile Components — 0.1%** | **Automobile Components — 0.1%** | **Automobile Components — 0.1%** | **Automobile Components — 0.1%** |
| &nbsp;&nbsp;&nbsp; Clarios Global LP, 2025 USD Term Loan B, (1-mo. CME <br> Term SOFR at 0.00% Floor + 2.75%), 6.91%, <br> 01/28/32<br>|  | 182 | &nbsp;&nbsp; 181948 |
| Tenneco, Inc. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2022 Term Loan A, (3-mo. CME Term SOFR at 0.50% <br> Floor + 4.85%), 9.05%, 11/17/28<br>|  | 15 | &nbsp;&nbsp; 14792 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2022 Term Loan B, (3-mo. CME Term SOFR + <br> 5.10%), 9.30%, 11/17/28<br>|  | 92 | &nbsp;&nbsp; 89889 |
|  |  |  | &nbsp;&nbsp; 286629 |

---

---

| | | | |
|:---|:---|:---|:---|
| *Security* |  | *Par*<br> *(000)*<br>| *Value* |
| **Beverages — 0.0%** | **Beverages — 0.0%** | **Beverages — 0.0%** | **Beverages — 0.0%** |
| &nbsp;&nbsp;&nbsp; Sazerac Co., Inc., Term Loan B, (1-mo. CME Term <br> SOFR at 0.00% Floor + 2.50%), 6.70%, 07/09/32<br>| USD | 72 | &nbsp;&nbsp; $72400 |
| **Building Products — 0.1%** | **Building Products — 0.1%** | **Building Products — 0.1%** | **Building Products — 0.1%** |
| &nbsp;&nbsp;&nbsp; Chariot Buyer LLC, 2025 Term Loan B, (1-mo. CME <br> Term SOFR at 0.00% Floor + 3.00%), 7.16%, <br> 09/08/32<br>|  | 26 | &nbsp;&nbsp; 25655 |
| &nbsp;&nbsp;&nbsp; CP Atlas Buyer, Inc., 2025 Term Loan, (1-mo. CME Term <br> SOFR at 0.00% Floor + 5.25%), 9.41%, 07/08/30<br>|  | 58 | &nbsp;&nbsp; 56695 |
| Foundation Building Materials, Inc. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2021 Term Loan, (3-mo. CME Term SOFR at 0.50% <br> Floor + 3.51%), 7.82%, 01/31/28<br>|  | 78 | &nbsp;&nbsp; 77801 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 Term Loan B2, (3-mo. CME Term SOFR at <br> 0.00% Floor + 4.00%), 8.31%, 01/29/31<br>|  | 276 | &nbsp;&nbsp; 276403 |
| &nbsp;&nbsp;&nbsp; 2025 Term Loan, (Prime + 4.25%), 11.50%, 01/29/31 |  | 44 | &nbsp;&nbsp; 44263 |
| &nbsp;&nbsp;&nbsp; White Cap Supply Holdings LLC, 2024 Term Loan B, <br> (1-mo. CME Term SOFR at 0.00% Floor + 3.25%), <br> 7.42%, 10/19/29<br>|  | 280 | &nbsp;&nbsp; 280515 |
| &nbsp;&nbsp;&nbsp; Wilsonart LLC, 2024 Term Loan B, (3-mo. CME Term <br> SOFR at 0.00% Floor + 4.25%), 8.25%, 08/05/31<br>|  | 81 | &nbsp;&nbsp; 78261 |
|  |  |  | &nbsp;&nbsp; 839593 |
| **Capital Markets — 0.1%** | **Capital Markets — 0.1%** | **Capital Markets — 0.1%** | **Capital Markets — 0.1%** |
| &nbsp;&nbsp;&nbsp; Acuren Delaware Holdco, Inc., 2025 Term Loan, (1-mo. <br> CME Term SOFR at 0.00% Floor + 2.75%), 6.91%, <br> 07/30/31<br>|  | 27 | &nbsp;&nbsp; 26952 |
| &nbsp;&nbsp;&nbsp; Gryphon Acquire NewCo LLC, Term Loan B, (6-mo. <br> CME Term SOFR at 0.00% Floor + 3.00%), 6.88%, <br> 09/13/32<br>|  | 155 | &nbsp;&nbsp; 155340 |
| &nbsp;&nbsp;&nbsp; Osaic Holdings, Inc., 2025 Term Loan, (1-mo. CME <br> Term SOFR at 0.00% Floor + 3.00%), 7.16%, <br> 07/30/32<br>|  | 160 | &nbsp;&nbsp; 159620 |
| &nbsp;&nbsp;&nbsp; Summit Acquisition, Inc., 2025 Add-on Term Loan, (1-<br> mo. CME Term SOFR at 0.00% Floor + 3.50%), <br> 7.66%, 10/16/31<br>|  | 76 | &nbsp;&nbsp; 76069 |
|  |  |  | &nbsp;&nbsp; 417981 |
| **Chemicals — 0.1%** | **Chemicals — 0.1%** | **Chemicals — 0.1%** | **Chemicals — 0.1%** |
| &nbsp;&nbsp;&nbsp; Aruba Investments Holdings LLC, 2020 2nd Lien Term <br> Loan, (1-mo. CME Term SOFR + 7.85%), 12.01%, <br> 11/24/28<br>|  | 64 | &nbsp;&nbsp; 58346 |
| &nbsp;&nbsp;&nbsp; Discovery Purchaser Corp., Term Loan, (3-mo. CME <br> Term SOFR at 0.50% Floor + 3.75%), 8.08%, <br> 10/04/29<br>|  | 253 | &nbsp;&nbsp; 251989 |
| &nbsp;&nbsp;&nbsp; Lonza Group AG, USD Term Loan B, (3-mo. CME Term <br> SOFR at 0.75% Floor + 4.03%), 8.03%, 07/03/28<br>|  | 183 | &nbsp;&nbsp; 164365 |
| &nbsp;&nbsp;&nbsp; Momentive Performance Materials, Inc., 2023 Term <br> Loan, (1-mo. CME Term SOFR + 4.00%), 8.16%, <br> 03/29/28<br>|  | 51 | &nbsp;&nbsp; 51280 |
| &nbsp;&nbsp;&nbsp; Olympus Water U.S. Holding Corp., 2025 USD Term <br> Loan B, 07/23/32<sup>(n)</sup><br>|  | 123 | &nbsp;&nbsp; 121990 |
| &nbsp;&nbsp;&nbsp; Oxea Holding Drei GmbH, 2017 USD Term Loan B2, <br> 04/08/31<sup>(n)</sup><br>|  | 18 | &nbsp;&nbsp; 16239 |
| Qnity Electronics, Inc., Term Loan B, 08/12/32<sup>(n)</sup> |  | 181 | &nbsp;&nbsp; 180774 |
| &nbsp;&nbsp;&nbsp; WR Grace Holdings LLC, 2025 Term Loan B, (3-mo. <br> CME Term SOFR at 0.50% Floor + 3.00%), 7.00%, <br> 08/19/32<br>|  | 85 | &nbsp;&nbsp; 85142 |
|  |  |  | &nbsp;&nbsp; 930125 |

---

Schedule of Investments

------

Schedule of Investments (unaudited)(continued)

September 30, 2025

**BlackRock Core Bond Trust (BHK)** 

**(Percentages shown are based on Net Assets)**

---

| | | | |
|:---|:---|:---|:---|
| *Security* |  | *Par*<br> *(000)*<br>| *Value* |
| **Commercial Services & Supplies — 0.1%** | **Commercial Services & Supplies — 0.1%** | **Commercial Services & Supplies — 0.1%** | **Commercial Services & Supplies — 0.1%** |
| &nbsp;&nbsp;&nbsp; AlixPartners LLP, 2025 USD Term Loan, (1-mo. CME <br> Term SOFR at 0.00% Floor + 2.00%), 6.16%, <br> 08/12/32<br>| USD | 70 | &nbsp;&nbsp; $69495 |
| &nbsp;&nbsp;&nbsp; Allied Universal Holdco LLC, 2025 USD Term Loan B, <br> (1-mo. CME Term SOFR at 0.00% Floor + 3.35%), <br> 7.51%, 08/20/32<br>|  | 270 | &nbsp;&nbsp; 270747 |
| &nbsp;&nbsp;&nbsp; Champions Financing, Inc., 2024 Term Loan B, (3-mo. <br> CME Term SOFR at 0.00% Floor + 4.75%), 8.95%, <br> 02/23/29<br>|  | 208 | &nbsp;&nbsp; 194819 |
| &nbsp;&nbsp;&nbsp; Galaxy U.S. Opco, Inc., Term Loan, (3-mo. CME Term <br> SOFR + 2.00%, 3.75% PIK), 10.06%, 07/31/30<sup>(h)</sup><br>|  | 138 | &nbsp;&nbsp; 124835 |
| &nbsp;&nbsp;&nbsp; Vortex Opco LLC, Second Out Term Loan, (3-mo. CME <br> Term SOFR at 0.50% Floor + 4.36%), 8.37%, <br> 12/17/28<br>|  | 60 | &nbsp;&nbsp; 13263 |
| &nbsp;&nbsp;&nbsp; Wand NewCo 3, Inc., 2025 Repriced Term Loan B, (1-<br> mo. CME Term SOFR at 0.00% Floor + 2.50%), <br> 6.66%, 01/30/31<br>|  | 180 | &nbsp;&nbsp; 178968 |
|  |  |  | &nbsp;&nbsp; 852127 |
| **Communications Equipment — 0.0%** | **Communications Equipment — 0.0%** | **Communications Equipment — 0.0%** | **Communications Equipment — 0.0%** |
| &nbsp;&nbsp;&nbsp; COMMSCOPE, 2024 Term Loan, (1-mo. CME Term <br> SOFR at 2.00% Floor + 4.75%), 8.91%, 12/17/29<br>|  | 137 | &nbsp;&nbsp; 139032 |
| **Construction & Engineering — 0.1%** | **Construction & Engineering — 0.1%** | **Construction & Engineering — 0.1%** | **Construction & Engineering — 0.1%** |
| &nbsp;&nbsp;&nbsp; Brand Industrial Services, Inc., 2024 Term Loan B, (3-<br> mo. CME Term SOFR at 0.50% Floor + 4.50%), <br> 8.80%, 08/01/30<br>|  | 568 | &nbsp;&nbsp; 513887 |
| **Consumer Discretionary — 0.0%** | **Consumer Discretionary — 0.0%** | **Consumer Discretionary — 0.0%** | **Consumer Discretionary — 0.0%** |
| &nbsp;&nbsp;&nbsp; Camelot U.S. Acquisition LLC, 2025 Incremental Term <br> Loan B, (1-mo. CME Term SOFR at 0.00% Floor + <br> 3.25%), 7.41%, 01/31/31<br>|  | 143 | &nbsp;&nbsp; 142687 |
| &nbsp;&nbsp;&nbsp; Jupiter Buyer, Inc., 2024 Term Loan B, (3-mo. CME <br> Term SOFR at 0.00% Floor + 4.25%), 8.25%, <br> 11/01/31<br>|  | 38 | &nbsp;&nbsp; 38075 |
|  |  |  | &nbsp;&nbsp; 180762 |
| **Consumer Staples Distribution & Retail — 0.1%** | **Consumer Staples Distribution & Retail — 0.1%** | **Consumer Staples Distribution & Retail — 0.1%** | **Consumer Staples Distribution & Retail — 0.1%** |
| &nbsp;&nbsp;&nbsp; Boots Group Finco LP, USD Term Loan, (3-mo. CME <br> Term SOFR at 0.00% Floor + 3.50%), 7.70%, <br> 08/30/32<br>|  | 477 | &nbsp;&nbsp; 477992 |
| **Containers & Packaging — 0.0%** | **Containers & Packaging — 0.0%** | **Containers & Packaging — 0.0%** | **Containers & Packaging — 0.0%** |
| &nbsp;&nbsp;&nbsp; LABL, Inc., 2021 USD 1st Lien Term Loan, (1-mo. CME <br> Term SOFR at 0.50% Floor + 5.10%), 9.26%, <br> 10/30/28<br>|  | 142 | &nbsp;&nbsp; 115685 |
| **Diversified Telecommunication Services — 0.1%** | **Diversified Telecommunication Services — 0.1%** | **Diversified Telecommunication Services — 0.1%** | **Diversified Telecommunication Services — 0.1%** |
| &nbsp;&nbsp;&nbsp; Delta Topco, Inc., 2024 2nd Lien Term Loan, (1-mo. <br> CME Term SOFR at 0.00% Floor + 5.25%), 9.43%, <br> 11/29/30<br>|  | 32 | &nbsp;&nbsp; 31810 |
| &nbsp;&nbsp;&nbsp; Frontier Communications Holdings LLC, 2025 Term <br> Loan B, (1-mo. CME Term SOFR at 0.00% Floor + <br> 2.50%), 6.65%, 07/01/31<br>|  | 41 | &nbsp;&nbsp; 40625 |
| Lumen Technologies, Inc. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 Extended Term Loan B1, (1-mo. CME Term <br> SOFR at 2.00% Floor + 2.46%), 6.63%, 04/16/29<br>|  | 143 | &nbsp;&nbsp; 141653 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 Term Loan A, (1-mo. CME Term SOFR + <br> 6.00%), 10.16%, 06/01/28<br>|  | 42 | &nbsp;&nbsp; 43033 |

---

---

| | | | |
|:---|:---|:---|:---|
| *Security* |  | *Par*<br> *(000)*<br>| *Value* |
| **Diversified Telecommunication Services (continued)** | **Diversified Telecommunication Services (continued)** | **Diversified Telecommunication Services (continued)** | **Diversified Telecommunication Services (continued)** |
| &nbsp;&nbsp;&nbsp; Windstream Services LLC, 2024 Term Loan B, (1-mo. <br> CME Term SOFR at 0.00% Floor + 4.85%), 9.01%, <br> 10/01/31<sup>(c)</sup><br>| USD | 65 | &nbsp;&nbsp; $64838 |
| &nbsp;&nbsp;&nbsp; Zayo Group Holdings, Inc., 1st Lien Term Loan B, (1-mo. <br> CME Term SOFR at 0.00% Floor + 3.50%), 7.61%, <br> 03/11/30<br>|  | 624 | &nbsp;&nbsp; 605121 |
|  |  |  | &nbsp;&nbsp; 927080 |
| **Electronic Equipment, Instruments & Components — 0.0%** | **Electronic Equipment, Instruments & Components — 0.0%** | **Electronic Equipment, Instruments & Components — 0.0%** | **Electronic Equipment, Instruments & Components — 0.0%** |
| &nbsp;&nbsp;&nbsp; Lsf12 Crown U.S. Commercial Bidco LLC, 2025 Term <br> Loan B, (1-mo. CME Term SOFR at 0.00% Floor + <br> 3.50%), 7.66%, 12/02/31<br>|  | 168 | &nbsp;&nbsp; 167793 |
| Pinnacle Buyer LLC<sup>(n)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp; Delayed Draw Term Loan, 09/10/32 |  | 13 | &nbsp;&nbsp; 13605 |
| &nbsp;&nbsp;&nbsp; Term Loan, 09/10/32 |  | 71 | &nbsp;&nbsp; 70742 |
|  |  |  | &nbsp;&nbsp; 252140 |
| **Energy Equipment & Services — 0.0%** | **Energy Equipment & Services — 0.0%** | **Energy Equipment & Services — 0.0%** | **Energy Equipment & Services — 0.0%** |
| &nbsp;&nbsp;&nbsp; Star Holding LLC, 2024 1st Lien Term Loan B, (1-mo. <br> CME Term SOFR at 0.00% Floor + 4.50%), 8.66%, <br> 07/31/31<br>|  | 41 | &nbsp;&nbsp; 40555 |
| **Financial Services**<sup>(n)</sup> **— 0.0%** | **Financial Services**<sup>(n)</sup> **— 0.0%** | **Financial Services**<sup>(n)</sup> **— 0.0%** | **Financial Services**<sup>(n)</sup> **— 0.0%** |
| &nbsp;&nbsp;&nbsp; ION Platform Finance U.S., Inc., USD Term Loan, <br> 09/30/32<sup>(c)</sup><br>|  | 180 | &nbsp;&nbsp; 178425 |
| Orion U.S. Finco, Inc., 1st Lien Term Loan, 05/20/32 |  | 45 | &nbsp;&nbsp; 45225 |
|  |  |  | &nbsp;&nbsp; 223650 |
| **Food Products — 0.0%** | **Food Products — 0.0%** | **Food Products — 0.0%** | **Food Products — 0.0%** |
| &nbsp;&nbsp;&nbsp; Chobani LLC, 2025 Repriced Term Loan B, (1-mo. CME <br> Term SOFR at 0.00% Floor + 2.50%), 6.66%, <br> 10/25/27<br>|  | 7 | &nbsp;&nbsp; 6963 |
| **Health Care Equipment & Supplies — 0.1%** | **Health Care Equipment & Supplies — 0.1%** | **Health Care Equipment & Supplies — 0.1%** | **Health Care Equipment & Supplies — 0.1%** |
| Bausch & Lomb Corp. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2023 Incremental Term Loan, (1-mo. CME Term <br> SOFR at 0.00% Floor + 4.00%), 8.17%, 09/29/28<br>|  | 126 | &nbsp;&nbsp; 126262 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2025 Term Loan B, (1-mo. CME Term SOFR at <br> 0.00% Floor + 4.25%), 8.41%, 01/15/31<br>|  | 242 | &nbsp;&nbsp; 241885 |
|  |  |  | &nbsp;&nbsp; 368147 |
| **Health Care Providers & Services — 0.1%** | **Health Care Providers & Services — 0.1%** | **Health Care Providers & Services — 0.1%** | **Health Care Providers & Services — 0.1%** |
| LifePoint Health, Inc. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 1st Lien Term Loan B, (3-mo. CME Term SOFR <br> at 0.00% Floor + 3.75%), 8.07%, 05/19/31<br>|  | 163 | &nbsp;&nbsp; 162678 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 Incremental Term Loan B1, (3-mo. CME Term <br> SOFR at 0.00% Floor + 3.50%), 7.66%, 05/19/31<br>|  | 83 | &nbsp;&nbsp; 82143 |
| &nbsp;&nbsp;&nbsp; Quorum Health Corp., 2020 Term Loan, (3-mo. CME <br> Term SOFR at 1.00% Floor + 6.60%), 10.60%, <br> 01/28/28<br>|  | 130 | &nbsp;&nbsp; 93194 |
| &nbsp;&nbsp;&nbsp; Star Parent, Inc., Term Loan B, (3-mo. CME Term SOFR <br> at 0.00% Floor + 4.00%), 8.00%, 09/27/30<br>|  | 352 | &nbsp;&nbsp; 352086 |
|  |  |  | &nbsp;&nbsp; 690101 |
| **Hotels, Restaurants & Leisure — 0.0%** | **Hotels, Restaurants & Leisure — 0.0%** | **Hotels, Restaurants & Leisure — 0.0%** | **Hotels, Restaurants & Leisure — 0.0%** |
| &nbsp;&nbsp;&nbsp; EOC Borrower LLC, Term Loan B, (1-mo. CME Term <br> SOFR at 0.00% Floor + 3.00%), 7.16%, 03/24/32<br>|  | 80 | &nbsp;&nbsp; 79687 |
| &nbsp;&nbsp;&nbsp; Great Canadian Gaming Corp., 2024 Term Loan B, (3-<br> mo. CME Term SOFR at 0.00% Floor + 4.75%), <br> 8.75%, 11/01/29<br>|  | 57 | &nbsp;&nbsp; 54970 |
| Sabre GLBL, Inc. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2021 Term Loan B1, (1-mo. CME Term SOFR at <br> 0.50% Floor + 3.61%), 7.78%, 12/17/27<br>|  | 19 | &nbsp;&nbsp; 17907 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2021 Term Loan B2, (1-mo. CME Term SOFR at <br> 0.50% Floor + 3.61%), 7.78%, 12/17/27<br>|  | 6 | &nbsp;&nbsp; 5896 |

---

------

Schedule of Investments (unaudited)(continued)

September 30, 2025

**BlackRock Core Bond Trust (BHK)** 

**(Percentages shown are based on Net Assets)**

---

| | | | |
|:---|:---|:---|:---|
| *Security* |  | *Par*<br> *(000)*<br>| *Value* |
| **Hotels, Restaurants & Leisure (continued)** | **Hotels, Restaurants & Leisure (continued)** | **Hotels, Restaurants & Leisure (continued)** | **Hotels, Restaurants & Leisure (continued)** |
| Sabre GLBL, Inc. (continued) |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2022 Term Loan B, (1-mo. CME Term SOFR + <br> 4.35%), 8.51%, 06/30/28<br>| USD | 2 | &nbsp;&nbsp; $1686 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 Term Loan B1, (1-mo. CME Term SOFR at <br> 0.50% Floor + 6.10%), 10.26%, 11/15/29<sup>(c)</sup><br>|  | 45 | &nbsp;&nbsp; 42288 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 Term Loan B2, (1-mo. CME Term SOFR at <br> 0.50% Floor + 6.10%), 10.26%, 11/15/29<sup>(c)</sup><br>|  | 26 | &nbsp;&nbsp; 24819 |
|  |  |  | &nbsp;&nbsp; 227253 |
| **Household Durables — 0.0%** | **Household Durables — 0.0%** | **Household Durables — 0.0%** | **Household Durables — 0.0%** |
| &nbsp;&nbsp;&nbsp; Hunter Douglas, Inc., 2025 USD Term Loan B, (3-mo. <br> CME Term SOFR at 0.50% Floor + 3.25%), 7.25%, <br> 01/20/32<br>|  | 61 | &nbsp;&nbsp; 60707 |
| &nbsp;&nbsp;&nbsp; Springs Windows Fashions LLC, 2024 FLFO A1 Term <br> Loan, (1-mo. CME Term SOFR at 1.00% Floor + <br> 4.50%), 8.66%, 12/19/29<br>|  | 27 | &nbsp;&nbsp; 27481 |
|  |  |  | &nbsp;&nbsp; 88188 |
| **Insurance — 0.1%** | **Insurance — 0.1%** | **Insurance — 0.1%** | **Insurance — 0.1%** |
| &nbsp;&nbsp;&nbsp; Ardonagh Group Finco Pty. Ltd., 2024 USD Term Loan <br> B, (3-mo. CME Term SOFR at 0.00% Floor + 2.75%), <br> 6.94%, 02/15/31<br>|  | 91 | &nbsp;&nbsp; 90044 |
| &nbsp;&nbsp;&nbsp; Asurion LLC, 2025 Term Loan B13, (1-mo. CME Term <br> SOFR at 0.00% Floor + 4.25%), 8.41%, 09/19/30<br>|  | 88 | &nbsp;&nbsp; 87775 |
| &nbsp;&nbsp;&nbsp; Howden Group Holdings Ltd., 2024 USD Term Loan B, <br> (1-mo. CME Term SOFR at 0.50% Floor + 3.50%), <br> 7.66%, 04/18/30<br>|  | 17 | &nbsp;&nbsp; 16897 |
| &nbsp;&nbsp;&nbsp; OneDigital Borrower LLC, 2025 Repriced Term Loan, <br> (1-mo. CME Term SOFR at 0.50% Floor + 3.00%), <br> 7.16%, 07/02/31<br>|  | 22 | &nbsp;&nbsp; 21918 |
| &nbsp;&nbsp;&nbsp; Truist Insurance Holdings LLC, 2nd Lien Term Loan, <br> (3-mo. CME Term SOFR at 0.00% Floor + 4.75%), <br> 8.75%, 05/06/32<br>|  | 410 | &nbsp;&nbsp; 416988 |
|  |  |  | &nbsp;&nbsp; 633622 |
| **Interactive Media & Services — 0.0%** | **Interactive Media & Services — 0.0%** | **Interactive Media & Services — 0.0%** | **Interactive Media & Services — 0.0%** |
| &nbsp;&nbsp;&nbsp; MH Sub I LLC, 2023 Term Loan, (3-mo. CME Term <br> SOFR at 0.50% Floor + 4.25%), 8.25%, 05/03/28<br>|  | 176 | &nbsp;&nbsp; 169298 |
| **Internet Software & Services — 0.0%** | **Internet Software & Services — 0.0%** | **Internet Software & Services — 0.0%** | **Internet Software & Services — 0.0%** |
| Proofpoint, Inc., 2025 Fungible Term Loan, 08/31/28<sup>(n)</sup> |  | 28 | &nbsp;&nbsp; 28073 |
| &nbsp;&nbsp;&nbsp; StubHub Holdco Sub LLC, 2024 Extended Term Loan B, <br> (1-mo. CME Term SOFR + 4.75%), 8.91%, 03/15/30<br>|  | 192 | &nbsp;&nbsp; 189794 |
|  |  |  | &nbsp;&nbsp; 217867 |
| **IT Services — 0.1%** | **IT Services — 0.1%** | **IT Services — 0.1%** | **IT Services — 0.1%** |
| &nbsp;&nbsp;&nbsp; Amentum Holdings, Inc., 2024 Term Loan B, (1-mo. <br> CME Term SOFR at 0.00% Floor + 2.25%), 6.41%, <br> 09/29/31<br>|  | 14 | &nbsp;&nbsp; 14087 |
| Finastra USA, Inc. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2025 1st Lien Term Loan, (3-mo. CME Term SOFR at <br> 0.00% Floor + 4.00%), 8.04%, 07/30/32<br>|  | 444 | &nbsp;&nbsp; 441940 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2025 2nd Lien Term Loan, (3-mo. CME Term SOFR <br> at 0.00% Floor + 7.00%), 11.04%, 09/15/33<br>|  | 96 | &nbsp;&nbsp; 95328 |
| &nbsp;&nbsp;&nbsp; Fortress Intermediate 3, Inc., 2025 Term Loan B, (1-mo. <br> CME Term SOFR at 0.00% Floor + 3.00%), 7.25%, <br> 06/27/31<br>|  | 61 | &nbsp;&nbsp; 61403 |
|  |  |  | &nbsp;&nbsp; 612758 |

---

---

| | | | |
|:---|:---|:---|:---|
| *Security* |  | *Par*<br> *(000)*<br>| *Value* |
| **Leisure Products — 0.0%** | **Leisure Products — 0.0%** | **Leisure Products — 0.0%** | **Leisure Products — 0.0%** |
| &nbsp;&nbsp;&nbsp; City Football Group Ltd., 2024 Term Loan, (1-mo. CME <br> Term SOFR at 0.50% Floor + 3.61%), 7.70%, <br> 07/22/30<br>| USD | 98 | &nbsp;&nbsp; $98372 |
| **Machinery — 0.1%** | **Machinery — 0.1%** | **Machinery — 0.1%** | **Machinery — 0.1%** |
| &nbsp;&nbsp;&nbsp; GrafTech Global Enterprises, Inc., 2024 Term Loan, <br> (1-mo. CME Term SOFR at 2.00% Floor + 6.00%), <br> 10.16%, 12/21/29<br>|  | 59 | &nbsp;&nbsp; 60329 |
| &nbsp;&nbsp;&nbsp; Husky Injection Molding Systems Ltd., 2024 Term Loan <br> B, (1-mo. CME Term SOFR at 0.00% Floor + 3.75%), <br> 7.75%, 02/15/29<br>|  | 476 | &nbsp;&nbsp; 476505 |
|  |  |  | &nbsp;&nbsp; 536834 |
| **Media — 0.2%** | **Media — 0.2%** | **Media — 0.2%** | **Media — 0.2%** |
| &nbsp;&nbsp;&nbsp; Coral-U.S. Co-Borrower LLC, 2025 Term Loan B7, (3-<br> mo. CME Term SOFR at 0.00% Floor + 3.25%), <br> 7.57%, 01/31/32<br>|  | 74 | &nbsp;&nbsp; 73670 |
| CSC Holdings LLC |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2019 Term Loan B5, (Prime + 1.50%), 8.75%, <br> 04/15/27<br>|  | 321 | &nbsp;&nbsp; 309924 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2022 Term Loan B6, (1-mo. CME Term SOFR at <br> 0.00% Floor + 4.50%), 8.65%, 01/18/28<br>|  | 258 | &nbsp;&nbsp; 255956 |
| &nbsp;&nbsp;&nbsp; Directv Financing LLC, 2025 Term Loan B, (3-mo. CME <br> Term SOFR at 0.75% Floor + 5.50%), 9.81%, <br> 02/17/31<br>|  | 386 | &nbsp;&nbsp; 376676 |
| Gray Television, Inc. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2021 Term Loan D, (1-mo. CME Term SOFR + <br> 3.11%), 7.39%, 12/01/28<br>|  | 64 | &nbsp;&nbsp; 63654 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 Term Loan B, (1-mo. CME Term SOFR + <br> 5.25%), 9.53%, 06/04/29<br>|  | — <br><sup>(o)</sup><br>| &nbsp;&nbsp; 551 |
| &nbsp;&nbsp;&nbsp; OVG Business Services LLC, 2024 Term Loan B, (1-mo. <br> CME Term SOFR + 3.00%), 7.16%, 06/25/31<br>|  | 7 | &nbsp;&nbsp; 6649 |
| &nbsp;&nbsp;&nbsp; Radiate Holdco LLC, 2025 FLFO Term Loan, (1-mo. <br> CME Term SOFR at 0.00% Floor + 3.61%, 1.50% <br> PIK), 9.28%, 09/25/29<sup>(h)</sup><br>|  | 343 | &nbsp;&nbsp; 276376 |
|  |  |  | &nbsp;&nbsp; 1363456 |
| **Oil, Gas & Consumable Fuels — 0.0%** | **Oil, Gas & Consumable Fuels — 0.0%** | **Oil, Gas & Consumable Fuels — 0.0%** | **Oil, Gas & Consumable Fuels — 0.0%** |
| &nbsp;&nbsp;&nbsp; Stakeholder Midstream LLC, Term Loan, (3-mo. CME <br> Term SOFR at 0.00% Floor + 4.00%), 8.04%, <br> 01/01/31<br>|  | 145 | &nbsp;&nbsp; 144818 |
| **Personal Care Products — 0.0%** | **Personal Care Products — 0.0%** | **Personal Care Products — 0.0%** | **Personal Care Products — 0.0%** |
| &nbsp;&nbsp;&nbsp; ACP Tara Holdings, Inc., 2025 Term Loan B, <br> 09/17/32<sup>(c)(n)</sup><br>|  | 53 | &nbsp;&nbsp; 53000 |
| **Pharmaceuticals — 0.1%** | **Pharmaceuticals — 0.1%** | **Pharmaceuticals — 0.1%** | **Pharmaceuticals — 0.1%** |
| &nbsp;&nbsp;&nbsp; Amneal Pharmaceuticals LLC, 2025 Term Loan B, (1-<br> mo. CME Term SOFR at 0.50% Floor + 3.50%), <br> 7.66%, 08/01/32<br>|  | 223 | &nbsp;&nbsp; 222628 |
| &nbsp;&nbsp;&nbsp; Endo Finance Holdings, Inc., 2024 1st Lien Term Loan, <br> (1-mo. CME Term SOFR at 0.50% Floor + 4.00%), <br> 8.16%, 04/23/31<br>|  | 93 | &nbsp;&nbsp; 92417 |
| &nbsp;&nbsp;&nbsp; Gainwell Acquisition Corp., Term Loan B, (3-mo. CME <br> Term SOFR at 0.75% Floor + 4.10%), 8.10%, <br> 10/01/27<br>|  | 279 | &nbsp;&nbsp; 274459 |
|  |  |  | &nbsp;&nbsp; 589504 |
| **Real Estate Management & Development — 0.0%** | **Real Estate Management & Development — 0.0%** | **Real Estate Management & Development — 0.0%** | **Real Estate Management & Development — 0.0%** |
| &nbsp;&nbsp;&nbsp; CoreLogic, Inc., Term Loan, (1-mo. CME Term SOFR at <br> 0.50% Floor + 3.61%), 7.78%, 06/02/28<br>|  | 84 | &nbsp;&nbsp; 83739 |

---

Schedule of Investments

------

Schedule of Investments (unaudited)(continued)

September 30, 2025

**BlackRock Core Bond Trust (BHK)** 

**(Percentages shown are based on Net Assets)**

---

| | | | |
|:---|:---|:---|:---|
| *Security* |  | *Par*<br> *(000)*<br>| *Value* |
| **Software — 0.3%** | **Software — 0.3%** | **Software — 0.3%** | **Software — 0.3%** |
| &nbsp;&nbsp;&nbsp; Applied Systems, Inc., 2024 2nd Lien Term Loan, (3-mo. <br> CME Term SOFR at 0.00% Floor + 4.50%), 8.50%, <br> 02/23/32<br>| USD | 98 | &nbsp;&nbsp; $99801 |
| &nbsp;&nbsp;&nbsp; Ascend Learning LLC, 2025 Repriced Term Loan B, <br> (1-mo. CME Term SOFR at 0.50% Floor + 3.00%), <br> 7.16%, 12/11/28<br>|  | 21 | &nbsp;&nbsp; 20876 |
| &nbsp;&nbsp;&nbsp; AthenaHealth Group, Inc., 2022 Term Loan B, (1-mo. <br> CME Term SOFR at 0.50% Floor + 2.75%), 6.91%, <br> 02/15/29<br>|  | 376 | &nbsp;&nbsp; 375313 |
| Boxer Parent Co., Inc. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 2nd Lien Term Loan, (3-mo. CME Term SOFR <br> at 0.00% Floor + 5.75%), 9.95%, 07/30/32<br>|  | 115 | &nbsp;&nbsp; 111837 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2025 USD Term Loan B, (3-mo. CME Term SOFR at <br> 0.00% Floor + 3.00%), 7.20%, 07/30/31<br>|  | 169 | &nbsp;&nbsp; 168924 |
| &nbsp;&nbsp;&nbsp; Central Parent LLC, 2024 Term Loan B, (3-mo. CME <br> Term SOFR at 0.00% Floor + 3.25%), 7.25%, <br> 07/06/29<br>|  | 55 | &nbsp;&nbsp; 47593 |
| Cloud Software Group, Inc. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2025 Term Loan B (2031), (3-mo. CME Term SOFR <br> at 0.00% Floor + 3.25%), 7.25%, 03/21/31<br>|  | 286 | &nbsp;&nbsp; 287498 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2025 Term Loan B (2032), (3-mo. CME Term SOFR <br> at 0.00% Floor + 3.25%), 7.25%, 08/13/32<br>|  | 87 | &nbsp;&nbsp; 87031 |
| &nbsp;&nbsp;&nbsp; Cloudera, Inc., 2021 Second Lien Term Loan, (1-mo. <br> CME Term SOFR at 0.50% Floor + 6.10%), 10.26%, <br> 10/08/29<br>|  | 168 | &nbsp;&nbsp; 152553 |
| Ellucian Holdings, Inc. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 1st Lien Term Loan B, (1-mo. CME Term SOFR <br> at 0.50% Floor + 2.75%), 6.91%, 10/09/29<br>|  | 25 | &nbsp;&nbsp; 24922 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 2nd Lien Term Loan, (1-mo. CME Term SOFR <br> at 0.50% Floor + 4.75%), 8.91%, 11/22/32<br>|  | 363 | &nbsp;&nbsp; 370561 |
| &nbsp;&nbsp;&nbsp; Mitchell International, Inc., 2024 1st Lien Term Loan, <br> (1-mo. CME Term SOFR at 0.50% Floor + 3.25%), <br> 7.41%, 06/17/31<br>|  | 97 | &nbsp;&nbsp; 96569 |
| RealPage, Inc. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1st Lien Term Loan, (3-mo. CME Term SOFR + <br> 3.26%), 7.26%, 04/24/28<br>|  | 211 | &nbsp;&nbsp; 210617 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 Incremental Term Loan, (3-mo. CME Term <br> SOFR at 0.50% Floor + 3.75%), 7.75%, 04/24/28<br>|  | 84 | &nbsp;&nbsp; 83789 |
|  |  |  | &nbsp;&nbsp; 2137884 |
| **Technology Hardware, Storage & Peripherals — 0.0%** | **Technology Hardware, Storage & Peripherals — 0.0%** | **Technology Hardware, Storage & Peripherals — 0.0%** | **Technology Hardware, Storage & Peripherals — 0.0%** |
| Cubic Corp. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2025 Second Out Term Loan B, (3-mo. CME Term <br> SOFR at 0.75% Floor + 4.51%), 8.83%, 05/25/29<br>|  | 86 | &nbsp;&nbsp; 48639 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2025 Second Out Term Loan C, (3-mo. CME Term <br> SOFR at 0.75% Floor + 4.51%), 8.57%, 05/25/29<br>|  | 10 | &nbsp;&nbsp; 5779 |
|  |  |  | &nbsp;&nbsp; 54418 |
| **Textiles, Apparel & Luxury Goods — 0.0%** | **Textiles, Apparel & Luxury Goods — 0.0%** | **Textiles, Apparel & Luxury Goods — 0.0%** | **Textiles, Apparel & Luxury Goods — 0.0%** |
| &nbsp;&nbsp;&nbsp; Beach Acquisition Bidco LLC, USD Term Loan B, (3-mo. <br> CME Term SOFR at 0.00% Floor + 3.25%), 7.31%, <br> 09/12/32<br>|  | 67 | &nbsp;&nbsp; 67279 |
| **Wireless Telecommunication Services — 0.2%** | **Wireless Telecommunication Services — 0.2%** | **Wireless Telecommunication Services — 0.2%** | **Wireless Telecommunication Services — 0.2%** |
| &nbsp;&nbsp;&nbsp; Altice France SA, 2023 USD Term Loan B14, (3-mo. <br> CME Term SOFR at 0.00% Floor + 5.50%), 9.82%, <br> 08/15/28<sup>(c)</sup><br>|  | 252 | &nbsp;&nbsp; 243491 |

---

---

| | | | |
|:---|:---|:---|:---|
| *Security* |  | *Par*<br> *(000)*<br>| *Value* |
| **Wireless Telecommunication Services (continued)** | **Wireless Telecommunication Services (continued)** | **Wireless Telecommunication Services (continued)** | **Wireless Telecommunication Services (continued)** |
| &nbsp;&nbsp;&nbsp; Digicel International Finance Ltd., 2025 Term Loan B, <br> (3-mo. CME Term SOFR at 0.00% Floor + 5.25%), <br> 9.49%, 08/06/32<br>| USD | 168 | &nbsp;&nbsp; $167790 |
| &nbsp;&nbsp;&nbsp; Level 3 Financing, Inc., 2025 Repriced Term Loan B4, <br> (1-mo. CME Term SOFR at 0.00% Floor + 3.25%), <br> 7.42%, 03/29/32<br>|  | 616 | &nbsp;&nbsp; 616000 |
| &nbsp;&nbsp;&nbsp; Windstream Services, LLC, 2025 Term Loan B, <br> 09/24/32<sup>(c)(n)</sup><br>|  | 126 | &nbsp;&nbsp; 124740 |
|  |  |  | &nbsp;&nbsp; 1152021 |
| **Total Floating Rate Loan Interests — 2.3%** <br>**(Cost: $16,579,494)** | **Total Floating Rate Loan Interests — 2.3%** <br>**(Cost: $16,579,494)** | **Total Floating Rate Loan Interests — 2.3%** <br>**(Cost: $16,579,494)** | &nbsp;&nbsp; 16471532 |
| **Foreign Agency Obligations** | **Foreign Agency Obligations** | **Foreign Agency Obligations** | **Foreign Agency Obligations** |
| **Barbados — 0.0%** | **Barbados — 0.0%** | **Barbados — 0.0%** |  |
| &nbsp;&nbsp;&nbsp; Barbados Government International Bonds, 8.00%, <br> 06/26/35<sup>(b)</sup><br>|  | 103 | &nbsp;&nbsp; 107274 |
| **Benin — 0.0%** | **Benin — 0.0%** | **Benin — 0.0%** |  |
| &nbsp;&nbsp;&nbsp; Benin Government International Bonds, 7.96%, <br> 02/13/38<sup>(b)</sup><br>|  | 200 | &nbsp;&nbsp; 204282 |
| **Bulgaria — 0.0%** | **Bulgaria — 0.0%** | **Bulgaria — 0.0%** |  |
| &nbsp;&nbsp;&nbsp; Bulgaria Government International Bonds, 5.00%, <br> 03/05/37<sup>(d)</sup><br>|  | 92 | &nbsp;&nbsp; 92092 |
| **Canada — 0.9%** | **Canada — 0.9%** | **Canada — 0.9%** |  |
| CDP Financial, Inc., 5.60%, 11/25/39<sup>(b)(f)</sup> |  | 5890 | &nbsp;&nbsp; 6334845 |
| **Cayman Islands — 0.0%** | **Cayman Islands — 0.0%** | **Cayman Islands — 0.0%** |  |
| &nbsp;&nbsp;&nbsp; Kyrgyz Republic International Bonds, 7.75%, <br> 06/03/30<sup>(b)</sup><br>|  | 200 | &nbsp;&nbsp; 201250 |
| **Chile — 0.0%** | **Chile — 0.0%** | **Chile — 0.0%** |  |
| &nbsp;&nbsp;&nbsp; Chile Government International Bonds, 4.34%, <br> 03/07/42<br>|  | 200 | &nbsp;&nbsp; 177000 |
| **Colombia — 0.0%** | **Colombia — 0.0%** | **Colombia — 0.0%** |  |
| &nbsp;&nbsp;&nbsp; Colombia Government International Bonds, 8.00%, <br> 04/20/33<br>|  | 200 | &nbsp;&nbsp; 218000 |
| **Costa Rica — 0.0%** | **Costa Rica — 0.0%** | **Costa Rica — 0.0%** |  |
| &nbsp;&nbsp;&nbsp; Costa Rica Government International Bonds, 7.30%, <br> 11/13/54<sup>(b)</sup><br>|  | 200 | &nbsp;&nbsp; 219000 |
| **Dominican Republic — 0.1%** | **Dominican Republic — 0.1%** | **Dominican Republic — 0.1%** |  |
| Dominican Republic International Bonds<sup>(b)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp; 4.50%, 01/30/30 |  | 226 | &nbsp;&nbsp; 221254 |
| &nbsp;&nbsp;&nbsp; 7.05%, 02/03/31 |  | 150 | &nbsp;&nbsp; 161775 |
|  |  |  | &nbsp;&nbsp; 383029 |
| **Ecuador — 0.0%** | **Ecuador — 0.0%** | **Ecuador — 0.0%** |  |
| &nbsp;&nbsp;&nbsp; Ecuador Government International Bonds, 6.90%, <br> 07/31/30<sup>(b)(l)</sup><br>|  | 21 | &nbsp;&nbsp; 18376 |
| **Egypt — 0.1%** | **Egypt — 0.1%** | **Egypt — 0.1%** |  |
| Egypt Government International Bonds |  |  |  |
| &nbsp;&nbsp;&nbsp; 7.63%, 05/29/32<sup>(d)</sup> |  | 200 | &nbsp;&nbsp; 196900 |
| &nbsp;&nbsp;&nbsp; 7.50%, 02/16/61<sup>(b)</sup> |  | 219 | &nbsp;&nbsp; 171477 |
|  |  |  | &nbsp;&nbsp; 368377 |

---

------

Schedule of Investments (unaudited)(continued)

September 30, 2025

**BlackRock Core Bond Trust (BHK)** 

**(Percentages shown are based on Net Assets)**

---

| | | | |
|:---|:---|:---|:---|
| *Security* |  | *Par*<br> *(000)*<br>| *Value* |
| **Gabon — 0.0%** | **Gabon — 0.0%** | **Gabon — 0.0%** |  |
| &nbsp;&nbsp;&nbsp; Gabon Government International Bonds, Series 4Y, <br> 9.50%, 02/18/29<sup>(d)</sup><br>| USD | 200 | &nbsp;&nbsp; $185062 |
| **Guatemala — 0.1%** | **Guatemala — 0.1%** | **Guatemala — 0.1%** |  |
| Guatemala Government Bonds<sup>(b)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp; 5.38%, 04/24/32 |  | 200 | &nbsp;&nbsp; 201200 |
| &nbsp;&nbsp;&nbsp; 6.60%, 06/13/36 |  | 200 | &nbsp;&nbsp; 211800 |
|  |  |  | &nbsp;&nbsp; 413000 |
| **Hungary — 0.1%** | **Hungary — 0.1%** | **Hungary — 0.1%** |  |
| Hungary Government International Bonds |  |  |  |
| &nbsp;&nbsp;&nbsp; 5.25%, 06/16/29<sup>(b)</sup> |  | 200 | &nbsp;&nbsp; 204150 |
| &nbsp;&nbsp;&nbsp; Series 10Y, 5.38%, 09/12/33<sup>(d)</sup> | EUR | 121 | &nbsp;&nbsp; 153984 |
| Magyar Export-Import Bank Zrt, 6.00%, 05/16/29<sup>(d)</sup> |  | 100 | &nbsp;&nbsp; 126871 |
|  |  |  | &nbsp;&nbsp; 485005 |
| **Indonesia — 0.0%** | **Indonesia — 0.0%** | **Indonesia — 0.0%** |  |
| &nbsp;&nbsp;&nbsp; Indonesia Government International Bonds, 3.88%, <br> 01/15/33<br>|  | 100 | &nbsp;&nbsp; 119313 |
| **Ivory Coast — 0.1%** | **Ivory Coast — 0.1%** | **Ivory Coast — 0.1%** |  |
| Ivory Coast Government International Bonds |  |  |  |
| &nbsp;&nbsp;&nbsp; 5.88%, 10/17/31<sup>(d)</sup> |  | 192 | &nbsp;&nbsp; 224150 |
| &nbsp;&nbsp;&nbsp; 8.08%, 04/01/36<sup>(b)</sup> | USD | 200 | &nbsp;&nbsp; 206800 |
|  |  |  | &nbsp;&nbsp; 430950 |
| **Kenya — 0.0%** | **Kenya — 0.0%** | **Kenya — 0.0%** |  |
| &nbsp;&nbsp;&nbsp; Republic of Kenya Government International Bonds, <br> 9.75%, 02/16/31<sup>(b)</sup><br>|  | 200 | &nbsp;&nbsp; 213460 |
| **Latvia — 0.0%** | **Latvia — 0.0%** | **Latvia — 0.0%** |  |
| &nbsp;&nbsp;&nbsp; Latvia Government International Bonds, 5.13%, <br> 07/30/34<sup>(b)</sup><br>|  | 200 | &nbsp;&nbsp; 204989 |
| **Mexico — 0.0%** | **Mexico — 0.0%** | **Mexico — 0.0%** |  |
| &nbsp;&nbsp;&nbsp; Mexico Government International Bonds, 5.13%, <br> 03/19/38<br>| EUR | 100 | &nbsp;&nbsp; 119534 |
| **Morocco — 0.0%** | **Morocco — 0.0%** | **Morocco — 0.0%** |  |
| &nbsp;&nbsp;&nbsp; Morocco Government International Bonds, 2.38%, <br> 12/15/27<sup>(b)</sup><br>| USD | 200 | &nbsp;&nbsp; 191344 |
| **Nigeria — 0.1%** | **Nigeria — 0.1%** | **Nigeria — 0.1%** |  |
| &nbsp;&nbsp;&nbsp; Nigeria Government International Bonds, 10.38%, <br> 12/09/34<sup>(b)</sup><br>|  | 200 | &nbsp;&nbsp; 222600 |
| **Oman — 0.0%** | **Oman — 0.0%** | **Oman — 0.0%** |  |
| &nbsp;&nbsp;&nbsp; Oman Government International Bonds, 6.75%, <br> 01/17/48<sup>(d)</sup><br>|  | 200 | &nbsp;&nbsp; 219860 |
| **Panama — 0.1%** | **Panama — 0.1%** | **Panama — 0.1%** |  |
| Panama Government International Bonds |  |  |  |
| &nbsp;&nbsp;&nbsp; 7.50%, 03/01/31 |  | 200 | &nbsp;&nbsp; 220700 |
| &nbsp;&nbsp;&nbsp; 6.40%, 02/14/35 |  | 200 | &nbsp;&nbsp; 207300 |
|  |  |  | &nbsp;&nbsp; 428000 |
| **Paraguay — 0.0%** | **Paraguay — 0.0%** | **Paraguay — 0.0%** |  |
| &nbsp;&nbsp;&nbsp; Paraguay Government International Bonds, 2.74%, <br> 01/29/33<sup>(d)</sup><br>|  | 200 | &nbsp;&nbsp; 176800 |

---

---

| | | | |
|:---|:---|:---|:---|
| *Security* |  | *Par*<br> *(000)*<br>| *Value* |
| **Peru — 0.1%** | **Peru — 0.1%** | **Peru — 0.1%** |  |
| Peruvian Government International Bonds |  |  |  |
| &nbsp;&nbsp;&nbsp; 2.78%, 01/23/31 | USD | 151 | &nbsp;&nbsp; $139260 |
| &nbsp;&nbsp;&nbsp; 1.86%, 12/01/32 |  | 98 | &nbsp;&nbsp; 80899 |
|  |  |  | &nbsp;&nbsp; 220159 |
| **Poland — 0.0%** | **Poland — 0.0%** | **Poland — 0.0%** |  |
| Republic of Poland Government International Bonds |  |  |  |
| &nbsp;&nbsp;&nbsp; 4.88%, 10/04/33 |  | 37 | &nbsp;&nbsp; 37392 |
| &nbsp;&nbsp;&nbsp; 5.50%, 04/04/53 |  | 119 | &nbsp;&nbsp; 114903 |
|  |  |  | &nbsp;&nbsp; 152295 |
| **Romania — 0.1%** | **Romania — 0.1%** | **Romania — 0.1%** |  |
| Romania Government International Bonds |  |  |  |
| &nbsp;&nbsp;&nbsp; 5.25%, 11/25/27<sup>(b)</sup> |  | 50 | &nbsp;&nbsp; 50524 |
| &nbsp;&nbsp;&nbsp; 2.12%, 07/16/31<sup>(d)</sup> | EUR | 179 | &nbsp;&nbsp; 179157 |
| &nbsp;&nbsp;&nbsp; 5.88%, 07/11/32<sup>(b)</sup> |  | 51 | &nbsp;&nbsp; 61299 |
| &nbsp;&nbsp;&nbsp; 6.25%, 09/10/34<sup>(b)</sup> |  | 145 | &nbsp;&nbsp; 175086 |
| &nbsp;&nbsp;&nbsp; 6.75%, 07/11/39<sup>(b)</sup> |  | 65 | &nbsp;&nbsp; 77809 |
|  |  |  | &nbsp;&nbsp; 543875 |
| **Saudi Arabia — 0.0%** | **Saudi Arabia — 0.0%** | **Saudi Arabia — 0.0%** |  |
| &nbsp;&nbsp;&nbsp; Saudi Government International Bonds, 4.50%, <br> 04/17/30<sup>(d)</sup><br>| USD | 200 | &nbsp;&nbsp; 202390 |
| **Serbia — 0.0%** | **Serbia — 0.0%** | **Serbia — 0.0%** |  |
| Serbia International Bonds, 6.00%, 06/12/34<sup>(b)</sup> |  | 200 | &nbsp;&nbsp; 208300 |
| **South Africa — 0.1%** | **South Africa — 0.1%** | **South Africa — 0.1%** |  |
| &nbsp;&nbsp;&nbsp; Republic of South Africa Government International <br> Bonds<br>|  |  |  |
| &nbsp;&nbsp;&nbsp; 5.75%, 09/30/49 |  | 252 | &nbsp;&nbsp; 201842 |
| &nbsp;&nbsp;&nbsp; 7.95%, 11/19/54<sup>(b)</sup> |  | 200 | &nbsp;&nbsp; 202947 |
|  |  |  | &nbsp;&nbsp; 404789 |
| **Trinidad And Tobago — 0.0%** | **Trinidad And Tobago — 0.0%** | **Trinidad And Tobago — 0.0%** |  |
| &nbsp;&nbsp;&nbsp; Trinidad & Tobago Government International Bonds, <br> 6.40%, 06/26/34<sup>(b)</sup><br>|  | 200 | &nbsp;&nbsp; 203650 |
| **Turkey — 0.0%** | **Turkey — 0.0%** | **Turkey — 0.0%** |  |
| &nbsp;&nbsp;&nbsp; Turkiye Government International Bonds, Series 7Y, <br> 7.13%, 02/12/32<br>|  | 200 | &nbsp;&nbsp; 206750 |
| **Uruguay — 0.0%** | **Uruguay — 0.0%** | **Uruguay — 0.0%** |  |
| Oriental Republic of Uruguay, 5.25%, 09/10/60 |  | 127 | &nbsp;&nbsp; 119466 |
| **Uzbekistan — 0.0%** | **Uzbekistan — 0.0%** | **Uzbekistan — 0.0%** |  |
| &nbsp;&nbsp;&nbsp; Republic of Uzbekistan International Bonds, 5.38%, <br> 05/29/27<sup>(b)</sup><br>| EUR | 100 | &nbsp;&nbsp; 120843 |
| **Total Foreign Agency Obligations — 1.9%** <br>**(Cost: $13,305,863)** | **Total Foreign Agency Obligations — 1.9%** <br>**(Cost: $13,305,863)** | **Total Foreign Agency Obligations — 1.9%** <br>**(Cost: $13,305,863)** | &nbsp;&nbsp; 14115959 |
| **Municipal Bonds** | **Municipal Bonds** | **Municipal Bonds** | **Municipal Bonds** |
| **Arizona — 0.1%** | **Arizona — 0.1%** | **Arizona — 0.1%** |  |
| &nbsp;&nbsp;&nbsp; Maricopa County Industrial Development Authority, RB, <br> 7.38%, 10/01/29<sup>(b)</sup><br>| USD | 890 | &nbsp;&nbsp; 931948 |
| **California — 1.6%** | **California — 1.6%** | **California — 1.6%** |  |
| &nbsp;&nbsp;&nbsp; City of Los Angeles California, GO, Series A, <br> Sustainability Bonds, 5.00%, 09/01/42<br>|  | 2000 | &nbsp;&nbsp; 1956684 |

---

Schedule of Investments

------

Schedule of Investments (unaudited)(continued)

September 30, 2025

**BlackRock Core Bond Trust (BHK)** 

**(Percentages shown are based on Net Assets)**

---

| | | | |
|:---|:---|:---|:---|
| *Security* |  | *Par*<br> *(000)*<br>| *Value* |
| **California (continued)** | **California (continued)** | **California (continued)** |  |
| &nbsp;&nbsp;&nbsp; Golden State Tobacco Securitization Corp., Refunding <br> RB<br>|  |  |  |
| &nbsp;&nbsp;&nbsp; Class B, (SAP), 3.29%, 06/01/42 | USD | 2610 | &nbsp;&nbsp; $2042377 |
| &nbsp;&nbsp;&nbsp; Series A-1, 3.71%, 06/01/41 |  | 1000 | &nbsp;&nbsp; 782150 |
| &nbsp;&nbsp;&nbsp; Oxnard Union High School District, Refunding GO, <br> (BAM), 3.18%, 08/01/43<br>|  | 1600 | &nbsp;&nbsp; 1238823 |
| &nbsp;&nbsp;&nbsp; Regents of the University of California Medical Center <br> Pooled Revenue, RB, BAB, Series H, 6.55%, <br> 05/15/48<br>|  | 2500 | &nbsp;&nbsp; 2694822 |
| State of California, GO, BAB, 7.55%, 04/01/39 |  | 1500 | &nbsp;&nbsp; 1813113 |
| State of California, Refunding GO, 5.13%, 03/01/38 |  | 1000 | &nbsp;&nbsp; 1010741 |
|  |  |  | &nbsp;&nbsp; 11538710 |
| **Florida — 0.2%** | **Florida — 0.2%** | **Florida — 0.2%** |  |
| &nbsp;&nbsp;&nbsp; State Board of Administration Finance Corp., RB, <br> Series A, 5.53%, 07/01/34<br>|  | 1500 | &nbsp;&nbsp; 1562434 |
| **Georgia — 0.2%** | **Georgia — 0.2%** | **Georgia — 0.2%** |  |
| &nbsp;&nbsp;&nbsp; Municipal Electric Authority of Georgia, Refunding RB, <br> BAB, 6.64%, 04/01/57<br>|  | 987 | &nbsp;&nbsp; 1077957 |
| **Hawaii — 0.3%** | **Hawaii — 0.3%** | **Hawaii — 0.3%** |  |
| &nbsp;&nbsp;&nbsp; City & County Honolulu Hawaii Wastewater System <br> Revenue, Refunding RB, Series A, 2.62%, 07/01/45<br>|  | 1000 | &nbsp;&nbsp; 692992 |
| State of Hawaii, GO, Series GK, 6.15%, 10/01/38 |  | 1000 | &nbsp;&nbsp; 1085311 |
|  |  |  | &nbsp;&nbsp; 1778303 |
| **Illinois — 0.2%** | **Illinois — 0.2%** | **Illinois — 0.2%** |  |
| State of Illinois, GO, 5.10%, 06/01/33 |  | 1745 | &nbsp;&nbsp; 1766292 |
| **Massachusetts — 0.6%** | **Massachusetts — 0.6%** | **Massachusetts — 0.6%** |  |
| &nbsp;&nbsp;&nbsp; Massachusetts Educational Financing Authority, RB, <br> Series A, 6.17%, 07/01/50<br>|  | 2500 | &nbsp;&nbsp; 2564427 |
| &nbsp;&nbsp;&nbsp; Massachusetts Educational Financing Authority, <br> Refunding RB, Series A, 6.35%, 07/01/49<br>|  | 1355 | &nbsp;&nbsp; 1417475 |
| &nbsp;&nbsp;&nbsp; University of Massachusetts Building Authority, <br> Refunding RB, Series 3, 3.43%, 11/01/40<br>|  | 500 | &nbsp;&nbsp; 422403 |
|  |  |  | &nbsp;&nbsp; 4404305 |
| **New Jersey — 0.3%** | **New Jersey — 0.3%** | **New Jersey — 0.3%** |  |
| &nbsp;&nbsp;&nbsp; New Jersey Turnpike Authority, RB, BAB, Series A, <br> 7.10%, 01/01/41<br>|  | 1750 | &nbsp;&nbsp; 2026879 |
| **New York — 0.6%** | **New York — 0.6%** | **New York — 0.6%** |  |
| City of New York, GO |  |  |  |
| &nbsp;&nbsp;&nbsp; Series H, 6.29%, 02/01/45 |  | 600 | &nbsp;&nbsp; 640438 |
| &nbsp;&nbsp;&nbsp; Series D-1, Sustainability Bonds, 5.09%, 10/01/49 |  | 1000 | &nbsp;&nbsp; 967272 |
| &nbsp;&nbsp;&nbsp; New York City Municipal Water Finance Authority, <br> Refunding RB, BAB, 6.01%, 06/15/42<br>|  | 1000 | &nbsp;&nbsp; 1054466 |
| &nbsp;&nbsp;&nbsp; New York State Dormitory Authority, RB, BAB, Series F, <br> 5.63%, 03/15/39<br>|  | 1100 | &nbsp;&nbsp; 1138178 |
| &nbsp;&nbsp;&nbsp; United Nations Development Corp., Refunding RB, <br> Series A, 6.54%, 08/01/55<br>|  | 850 | &nbsp;&nbsp; 900629 |
|  |  |  | &nbsp;&nbsp; 4700983 |

---

---

| | | | |
|:---|:---|:---|:---|
| *Security* |  | *Par*<br> *(000)*<br>| *Value* |
| **Texas — 0.4%** | **Texas — 0.4%** | **Texas — 0.4%** |  |
| &nbsp;&nbsp;&nbsp; Dallas Fort Worth International Airport, Refunding RB, <br> 2.84%, 11/01/46<br>| USD | 2000 | &nbsp;&nbsp; $1456311 |
| &nbsp;&nbsp;&nbsp; Texas Natural Gas Securitization Finance Corp., RB, <br> Series 2023-1, Class A2, 5.17%, 04/01/41<br>|  | 1500 | &nbsp;&nbsp; 1532051 |
|  |  |  | &nbsp;&nbsp; 2988362 |
| **Total Municipal Bonds — 4.5%** <br>**(Cost: $32,068,960)** | **Total Municipal Bonds — 4.5%** <br>**(Cost: $32,068,960)** | **Total Municipal Bonds — 4.5%** <br>**(Cost: $32,068,960)** | &nbsp;&nbsp; 32776173 |
| **Non-Agency Mortgage-Backed Securities** | **Non-Agency Mortgage-Backed Securities** | **Non-Agency Mortgage-Backed Securities** | **Non-Agency Mortgage-Backed Securities** |
| **Collateralized Mortgage Obligations — 9.6%** | **Collateralized Mortgage Obligations — 9.6%** | **Collateralized Mortgage Obligations — 9.6%** | **Collateralized Mortgage Obligations — 9.6%** |
| &nbsp;&nbsp;&nbsp; A&D Mortgage Trust, Series 2024-NQM5, Class A1, <br> 5.70%, 11/25/69<sup>(b)</sup><br>|  | 1352 | &nbsp;&nbsp; 1360348 |
| &nbsp;&nbsp;&nbsp; ACRA Trust, Series 2024-NQM1, Class A1, 5.61%, <br> 10/25/64<sup>(b)</sup><br>|  | 431 | &nbsp;&nbsp; 433229 |
| Alternative Loan Trust |  |  |  |
| &nbsp;&nbsp;&nbsp; Series 2005-64CB, Class 1A15, 5.50%, 12/25/35 |  | 306 | &nbsp;&nbsp; 271790 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2006-OA21, Class A1, (1-mo. Term SOFR + <br> 0.30%), 4.44%, 03/20/47<sup>(a)</sup><br>|  | 296 | &nbsp;&nbsp; 256474 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2007-OA10, Class 2A1, (1-mo. Term SOFR + <br> 0.61%), 4.77%, 09/25/47<sup>(a)</sup><br>|  | 3512 | &nbsp;&nbsp; 508888 |
| &nbsp;&nbsp;&nbsp; Angel Oak Mortgage Trust, Series 2024-10, Class A1, <br> 5.35%, 10/25/69<sup>(b)</sup><br>|  | 1544 | &nbsp;&nbsp; 1551315 |
| &nbsp;&nbsp;&nbsp; Banc of America Funding Trust, Series 2007-2, <br> Class 1A2, 6.00%, 03/25/37<br>|  | 181 | &nbsp;&nbsp; 143810 |
| &nbsp;&nbsp;&nbsp; Barclays Mortgage Loan Trust, Series 2025-NQM3, <br> Class A1, 5.64%, 05/25/65<sup>(b)</sup><br>|  | 957 | &nbsp;&nbsp; 965608 |
| Bravo Residential Funding Trust<sup>(b)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp; Series 2021-NQM1, Class A1, 0.94%, 02/25/49<sup>(a)</sup> |  | 445 | &nbsp;&nbsp; 417942 |
| &nbsp;&nbsp;&nbsp; Series 2023-NQM3, Class A1, 4.85%, 09/25/62 |  | 362 | &nbsp;&nbsp; 359305 |
| &nbsp;&nbsp;&nbsp; Series 2023-NQM4, Class A1, 6.44%, 05/25/63 |  | 1000 | &nbsp;&nbsp; 1007037 |
| &nbsp;&nbsp;&nbsp; Chase Home Lending Mortgage Trust, Series 2019-<br> ATR1, Class A12, 6.50%, 04/25/49<sup>(a)(b)</sup><br>|  | 393 | &nbsp;&nbsp; 397751 |
| CIM Trust<sup>(b)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp; Series 2023-I1, Class A1, 6.03%, 04/25/58 |  | 928 | &nbsp;&nbsp; 929680 |
| &nbsp;&nbsp;&nbsp; Series 2023-I2, Class A1, 6.64%, 12/25/67 |  | 866 | &nbsp;&nbsp; 871594 |
| COLT Mortgage Loan Trust<sup>(b)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp; Series 2020-2, Class M1, 5.25%, 03/25/65<sup>(a)</sup> |  | 3050 | &nbsp;&nbsp; 3050690 |
| &nbsp;&nbsp;&nbsp; Series 2020-3, Class M1, 3.36%, 04/27/65<sup>(a)</sup> |  | 3820 | &nbsp;&nbsp; 3697247 |
| &nbsp;&nbsp;&nbsp; Series 2022-1, Class A1, 4.55%, 04/25/67<sup>(a)</sup> |  | 1269 | &nbsp;&nbsp; 1264127 |
| &nbsp;&nbsp;&nbsp; Series 2022-9, Class A1, 6.79%, 12/25/67 |  | 229 | &nbsp;&nbsp; 228709 |
| &nbsp;&nbsp;&nbsp; Series 2023-2, Class A1, 6.60%, 07/25/68 |  | 887 | &nbsp;&nbsp; 894319 |
| &nbsp;&nbsp;&nbsp; Series 2023-3, Class M1, 7.82%, 09/25/68<sup>(a)</sup> |  | 800 | &nbsp;&nbsp; 813007 |
| &nbsp;&nbsp;&nbsp; Series 2024-6, Class A1, 5.39%, 11/25/69 |  | 1106 | &nbsp;&nbsp; 1112402 |
| &nbsp;&nbsp;&nbsp; Series 2024-7, Class A1, 5.54%, 12/26/69 |  | 1312 | &nbsp;&nbsp; 1322115 |
| &nbsp;&nbsp;&nbsp; Series 2024-INV4, Class A1, 5.61%, 05/25/69 |  | 1142 | &nbsp;&nbsp; 1152345 |
| &nbsp;&nbsp;&nbsp; CSMC Trust, Series 2022-NQM5, Class A1, 5.17%, <br> 05/25/67<sup>(a)(b)</sup><br>|  | 2245 | &nbsp;&nbsp; 2244302 |
| &nbsp;&nbsp;&nbsp; Deephaven Residential Mortgage Trust, Series 2022-2, <br> Class A1, 4.30%, 03/25/67<sup>(a)(b)</sup><br>|  | 213 | &nbsp;&nbsp; 208007 |
| Ellington Financial Mortgage Trust<sup>(a)(b)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp; Series 2020-1, Class M1, 5.24%, 05/25/65 |  | 1500 | &nbsp;&nbsp; 1541443 |
| &nbsp;&nbsp;&nbsp; Series 2021-2, Class A1, 0.93%, 06/25/66 |  | 164 | &nbsp;&nbsp; 138014 |
| &nbsp;&nbsp;&nbsp; Flagstar Mortgage Trust, Series 2021-4, Class A1, <br> 2.50%, 06/01/51<sup>(a)(b)</sup><br>|  | 2190 | &nbsp;&nbsp; 1819487 |
| GCAT Trust<sup>(a)(b)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp; Series 2022-NQM3, Class A1, 4.35%, 04/25/67 |  | 971 | &nbsp;&nbsp; 968067 |
| &nbsp;&nbsp;&nbsp; Series 2024-INV4, Class A2, 5.50%, 12/25/54 |  | 886 | &nbsp;&nbsp; 889838 |

---

------

Schedule of Investments (unaudited)(continued)

September 30, 2025

**BlackRock Core Bond Trust (BHK)** 

**(Percentages shown are based on Net Assets)**

---

| | | | |
|:---|:---|:---|:---|
| *Security* |  | *Par*<br> *(000)*<br>| *Value* |
| **Collateralized Mortgage Obligations (continued)** | **Collateralized Mortgage Obligations (continued)** | **Collateralized Mortgage Obligations (continued)** | **Collateralized Mortgage Obligations (continued)** |
| &nbsp;&nbsp;&nbsp; GS Mortgage-Backed Securities Corp. Trust, <br> Series 2022-PJ2, Class A4, 2.50%, 06/25/52<sup>(a)(b)</sup><br>| USD | 915 | &nbsp;&nbsp; $759716 |
| &nbsp;&nbsp;&nbsp; GS Mortgage-Backed Securities Trust, Series 2021-PJ2, <br> Class A2, 2.50%, 11/25/51<sup>(a)(b)</sup><br>|  | 808 | &nbsp;&nbsp; 669606 |
| &nbsp;&nbsp;&nbsp; GSR Mortgage Loan Trust, Series 2007-4F, Class 3A1, <br> 6.00%, 07/25/37<br>|  | 72 | &nbsp;&nbsp; 45523 |
| &nbsp;&nbsp;&nbsp; Homes Trust, Series 2024-NQM2, Class A1, 5.72%, <br> 10/25/69<sup>(b)</sup><br>|  | 521 | &nbsp;&nbsp; 525605 |
| &nbsp;&nbsp;&nbsp; Homeward Opportunities Fund Trust, Series 2022-1, <br> Class A1, 5.08%, 07/25/67<sup>(b)</sup><br>|  | 978 | &nbsp;&nbsp; 976339 |
| JP Morgan Mortgage Trust |  |  |  |
| &nbsp;&nbsp;&nbsp; Series 2006-S3, Class 1A12, 6.50%, 08/25/36 |  | 41 | &nbsp;&nbsp; 13278 |
| &nbsp;&nbsp;&nbsp; Series 2022-DSC1, Class A1, 4.75%, 01/25/63<sup>(a)(b)</sup> |  | 377 | &nbsp;&nbsp; 372762 |
| &nbsp;&nbsp;&nbsp; Series 2022-INV3, Class A3B, 3.00%, 09/25/52<sup>(a)(b)</sup> |  | 651 | &nbsp;&nbsp; 561915 |
| &nbsp;&nbsp;&nbsp; Series 2023-DSC1, Class A1, 4.63%, 07/25/63<sup>(a)(b)</sup> |  | 270 | &nbsp;&nbsp; 265044 |
| &nbsp;&nbsp;&nbsp; Series 2024-INV1, Class A3, 5.50%, 04/25/55<sup>(a)(b)</sup> |  | 1655 | &nbsp;&nbsp; 1663343 |
| &nbsp;&nbsp;&nbsp; Mello Mortgage Capital Acceptance, Series 2022-INV2, <br> Class A3, 3.00%, 04/25/52<sup>(a)(b)</sup><br>|  | 690 | &nbsp;&nbsp; 594524 |
| &nbsp;&nbsp;&nbsp; Merrill Lynch Mortgage Investors Trust, Series 2006-A3, <br> Class 3A1, 5.84%, 05/25/36<sup>(a)</sup><br>|  | 108 | &nbsp;&nbsp; 70060 |
| MFA Trust<sup>(b)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp; Series 2021-NQM1, Class M1, 2.31%, 04/25/65<sup>(a)</sup> |  | 2750 | &nbsp;&nbsp; 2334613 |
| &nbsp;&nbsp;&nbsp; Series 2023-NQM1, Class A1, 5.75%, 11/25/67 |  | 672 | &nbsp;&nbsp; 670521 |
| &nbsp;&nbsp;&nbsp; Series 2023-NQM3, Class A1, 6.62%, 07/25/68 |  | 1146 | &nbsp;&nbsp; 1156626 |
| &nbsp;&nbsp;&nbsp; Mill City Mortgage Trust, Series 2023-NQM2, Class A1, <br> 6.24%, 12/25/67<sup>(b)</sup><br>|  | 1387 | &nbsp;&nbsp; 1389977 |
| &nbsp;&nbsp;&nbsp; New Residential Mortgage Loan Trust, Series 2022-<br> NQM5, Class A1, 6.30%, 11/25/52<sup>(b)</sup><br>|  | 1268 | &nbsp;&nbsp; 1263630 |
| OBX Trust<sup>(b)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp; Series 2022-INC3, Class A1, 3.00%, 02/25/52<sup>(a)</sup> |  | 600 | &nbsp;&nbsp; 518379 |
| &nbsp;&nbsp;&nbsp; Series 2022-NQM9, Class A1A, 6.45%, 09/25/62 |  | 386 | &nbsp;&nbsp; 384769 |
| &nbsp;&nbsp;&nbsp; Series 2022-NQM9, Class A1B, 6.45%, 09/25/62 |  | 990 | &nbsp;&nbsp; 987442 |
| &nbsp;&nbsp;&nbsp; Series 2023-NQM1, Class A1, 6.12%, 11/25/62<sup>(a)</sup> |  | 524 | &nbsp;&nbsp; 523050 |
| &nbsp;&nbsp;&nbsp; Series 2023-NQM5, Class A1A, 6.57%, 06/25/63 |  | 1064 | &nbsp;&nbsp; 1072062 |
| &nbsp;&nbsp;&nbsp; Series 2023-NQM6, Class A1, 6.52%, 07/25/63 |  | 824 | &nbsp;&nbsp; 830574 |
| &nbsp;&nbsp;&nbsp; Series 2024-NQM17, Class A1, 5.61%, 11/25/64<sup>(a)</sup> |  | 1074 | &nbsp;&nbsp; 1083065 |
| &nbsp;&nbsp;&nbsp; PMT Loan Trust, Series 2024-INV1, Class A3, 5.50%, <br> 10/25/59<sup>(a)(b)</sup><br>|  | 1762 | &nbsp;&nbsp; 1773381 |
| PRKCM Trust<sup>(b)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp; Series 2023-AFC2, Class A1, 6.48%, 06/25/58 |  | 901 | &nbsp;&nbsp; 903494 |
| &nbsp;&nbsp;&nbsp; Series 2023-AFC3, Class A1, 6.58%, 09/25/58 |  | 1249 | &nbsp;&nbsp; 1261674 |
| &nbsp;&nbsp;&nbsp; Provident Funding Mortgage Trust, Series 2024-1, <br> Class A1, 5.50%, 12/25/54<sup>(a)(b)</sup><br>|  | 1439 | &nbsp;&nbsp; 1445379 |
| &nbsp;&nbsp;&nbsp; Radian Mortgage Capital Trust, Series 2024-J2, <br> Class A4, 5.50%, 03/25/55<sup>(a)(b)</sup><br>|  | 635 | &nbsp;&nbsp; 635065 |
| &nbsp;&nbsp;&nbsp; RCKT Mortgage Trust, Series 2022-2, Class A1, 3.00%, <br> 02/25/52<sup>(a)(b)</sup><br>|  | 892 | &nbsp;&nbsp; 769845 |
| &nbsp;&nbsp;&nbsp; Sequoia Mortgage Trust, Series 2024-INV1, Class A3, <br> 5.50%, 10/25/54<sup>(a)(b)</sup><br>|  | 914 | &nbsp;&nbsp; 918731 |
| &nbsp;&nbsp;&nbsp; SG Residential Mortgage Trust, Series 2022-2, <br> Class A1, 5.35%, 08/25/62<sup>(b)</sup><br>|  | 565 | &nbsp;&nbsp; 564844 |
| &nbsp;&nbsp;&nbsp; Spruce Hill Mortgage Loan Trust, Series 2022-SH1, <br> Class A1A, 4.10%, 07/25/57<sup>(b)</sup><br>|  | 595 | &nbsp;&nbsp; 590003 |
| &nbsp;&nbsp;&nbsp; STAR Trust, Series 2021-1, Class M1, 2.36%, <br> 05/25/65<sup>(a)(b)</sup><br>|  | 2050 | &nbsp;&nbsp; 1829219 |
| &nbsp;&nbsp;&nbsp; Starwood Mortgage Residential Trust, Series 2020-3, <br> Class M1, 3.54%, 04/25/65<sup>(a)(b)</sup><br>|  | 2000 | &nbsp;&nbsp; 1803719 |
| &nbsp;&nbsp;&nbsp; Towd Point Mortgage Trust, Series 2017-4, Class A1, <br> 2.75%, 06/25/57<sup>(a)(b)</sup><br>|  | 43 | &nbsp;&nbsp; 42446 |
| Verus Securitization Trust<sup>(b)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp; Series 2022-3, Class A1, 4.13%, 02/25/67 |  | 2353 | &nbsp;&nbsp; 2265314 |
| &nbsp;&nbsp;&nbsp; Series 2022-INV2, Class A1, 6.79%, 10/25/67 |  | 359 | &nbsp;&nbsp; 357383 |

---

---

| | | | |
|:---|:---|:---|:---|
| *Security* |  | *Par*<br> *(000)*<br>| *Value* |
| **Collateralized Mortgage Obligations (continued)** | **Collateralized Mortgage Obligations (continued)** | **Collateralized Mortgage Obligations (continued)** | **Collateralized Mortgage Obligations (continued)** |
| Verus Securitization Trust<sup>(b)</sup> (continued) |  |  |  |
| &nbsp;&nbsp;&nbsp; Series 2023-1, Class A1, 5.85%, 12/25/67 | USD | 714 | &nbsp;&nbsp; $713776 |
| &nbsp;&nbsp;&nbsp; Series 2023-5, Class A1, 6.48%, 06/25/68 |  | 763 | &nbsp;&nbsp; 768467 |
| &nbsp;&nbsp;&nbsp; Series 2024-8, Class A1, 5.36%, 10/25/69<sup>(a)</sup> |  | 1528 | &nbsp;&nbsp; 1536126 |
| &nbsp;&nbsp;&nbsp; Series 2024-R1, Class A1, 5.22%, 09/25/69<sup>(a)</sup> |  | 1508 | &nbsp;&nbsp; 1509042 |
| Visio Trust, Series 2023-2, Class A1, 6.60%, 10/25/58<sup>(b)</sup> |  | 1066 | &nbsp;&nbsp; 1074677 |
|  |  |  | &nbsp;&nbsp; 70313898 |
| **Commercial Mortgage-Backed Securities — 3.5%** | **Commercial Mortgage-Backed Securities — 3.5%** | **Commercial Mortgage-Backed Securities — 3.5%** | **Commercial Mortgage-Backed Securities — 3.5%** |
| &nbsp;&nbsp;&nbsp; 3650R Commercial Mortgage Trust, Series 2021-PF1, <br> Class A5, 2.52%, 11/15/54<br>|  | 1250 | &nbsp;&nbsp; 1105225 |
| Bank, Series 2021-BN35, Class C, 2.90%, 06/15/64<sup>(a)</sup> |  | 672 | &nbsp;&nbsp; 568204 |
| &nbsp;&nbsp;&nbsp; Bayview Commercial Asset Trust, Series 2007-2A, <br> Class A1, (1-mo. Term SOFR + 0.52%), 4.68%, <br> 07/25/37<sup>(a)(b)</sup><br>|  | 476 | &nbsp;&nbsp; 441428 |
| &nbsp;&nbsp;&nbsp; BBCMS Mortgage Trust, Series 2025-C35, Class D, <br> 4.50%, 07/15/58<sup>(b)</sup><br>|  | 330 | &nbsp;&nbsp; 269021 |
| &nbsp;&nbsp;&nbsp; BFLD Commercial Mortgage Trust, Series 2024-UNIV, <br> Class D, (1-mo. Term SOFR + 2.69%), 6.84%, <br> 11/15/41<sup>(a)(b)</sup><br>|  | 630 | &nbsp;&nbsp; 632362 |
| &nbsp;&nbsp;&nbsp; BHMS Commercial Mortgage Trust, Series 2025-ATLS, <br> Class A, (1-mo. Term SOFR + 1.85%), 6.00%, <br> 08/15/42<sup>(a)(b)</sup><br>|  | 506 | &nbsp;&nbsp; 507426 |
| &nbsp;&nbsp;&nbsp; BPR Commercial Mortgage Trust, Series 2024-PARK, <br> Class D, 7.23%, 11/05/39<sup>(a)(b)</sup><br>|  | 200 | &nbsp;&nbsp; 206353 |
| BX Commercial Mortgage Trust<sup>(a)(b)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2021-CIP, Class A, (1-mo. Term SOFR + <br> 1.04%), 5.19%, 12/15/38<br>|  | 532 | &nbsp;&nbsp; 531853 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2021-SOAR, Class A, (1-mo. Term SOFR + <br> 0.78%), 4.94%, 06/15/38<br>|  | 1482 | &nbsp;&nbsp; 1480761 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2021-XL2, Class A, (1-mo. Term SOFR + <br> 0.80%), 4.95%, 10/15/38<br>|  | 133 | &nbsp;&nbsp; 133206 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2022-LP2, Class A, (1-mo. Term SOFR + <br> 1.01%), 5.16%, 02/15/39<br>|  | 639 | &nbsp;&nbsp; 638110 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2024-MF, Class C, (1-mo. Term SOFR + <br> 1.94%), 6.09%, 02/15/39<br>|  | 451 | &nbsp;&nbsp; 452429 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2024-XL4, Class C, (1-mo. Term SOFR + <br> 2.19%), 6.34%, 02/15/39<br>|  | 93 | &nbsp;&nbsp; 93065 |
| BX Trust<sup>(a)(b)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2021-LBA, Class AJV, (1-mo. Term SOFR + <br> 0.91%), 5.07%, 02/15/36<br>|  | 1690 | &nbsp;&nbsp; 1689472 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2022 VAMF, Class A, (1-mo. Term SOFR + <br> 0.85%), 5.00%, 01/15/39<br>|  | 1300 | &nbsp;&nbsp; 1298781 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2024-BIO, Class C, (1-mo. Term SOFR + <br> 2.64%), 6.79%, 02/15/41<br>|  | 240 | &nbsp;&nbsp; 239175 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2024-CNYN, Class C, (1-mo. Term SOFR + <br> 1.94%), 6.09%, 04/15/41<br>|  | 615 | &nbsp;&nbsp; 615907 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2024-PAT, Class B, (1-mo. Term SOFR + <br> 3.04%), 7.19%, 03/15/41<br>|  | 170 | &nbsp;&nbsp; 170000 |
| &nbsp;&nbsp;&nbsp; Cantor Commercial Real Estate Lending, Series 2019-<br> CF2, Class A5, 2.87%, 11/15/52<br>|  | 550 | &nbsp;&nbsp; 517029 |
| &nbsp;&nbsp;&nbsp; Century Plaza Towers, Series 2019-CPT, Class C, <br> 3.10%, 11/13/39<sup>(a)(b)</sup><br>|  | 250 | &nbsp;&nbsp; 220651 |
| &nbsp;&nbsp;&nbsp; COMM Mortgage Trust, Series 2025-167G, Class B, <br> 5.93%, 08/10/40<sup>(b)</sup><br>|  | 341 | &nbsp;&nbsp; 342251 |
| Commercial Mortgage Trust<sup>(b)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp; Series 2025-167G, Class A, 5.50%, 08/10/40 |  | 309 | &nbsp;&nbsp; 310148 |
| &nbsp;&nbsp;&nbsp; Series 2025-SBX, Class B, 5.73%, 08/10/41<sup>(a)</sup> |  | 722 | &nbsp;&nbsp; 725429 |
| &nbsp;&nbsp;&nbsp; CONE Trust, Series 2024-DFW1, Class D, (1-mo. Term <br> SOFR + 3.04%), 7.19%, 08/15/41<sup>(a)(b)</sup><br>|  | 660 | &nbsp;&nbsp; 659416 |

---

Schedule of Investments

------

Schedule of Investments (unaudited)(continued)

September 30, 2025

**BlackRock Core Bond Trust (BHK)** 

**(Percentages shown are based on Net Assets)**

---

| | | | |
|:---|:---|:---|:---|
| *Security* |  | *Par*<br> *(000)*<br>| *Value* |
| **Commercial Mortgage-Backed Securities (continued)** | **Commercial Mortgage-Backed Securities (continued)** | **Commercial Mortgage-Backed Securities (continued)** | **Commercial Mortgage-Backed Securities (continued)** |
| CSMC<sup>(a)(b)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2020-FACT, Class D, (1-mo. Term SOFR + <br> 4.32%), 8.48%, 10/15/37<br>| USD | 900 | &nbsp;&nbsp; $846000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2021-BHAR, Class C, (1-mo. Term SOFR + <br> 2.11%), 6.27%, 11/15/38<br>|  | 300 | &nbsp;&nbsp; 296531 |
| DC Trust<sup>(a)(b)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp; Series 2024-HLTN, Class C, 7.29%, 04/13/40 |  | 220 | &nbsp;&nbsp; 219969 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-LXP, Class B, (1-mo. Term SOFR + <br> 1.84%), 5.99%, 08/15/37<br>|  | 220 | &nbsp;&nbsp; 220069 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-LXP, Class C, (1-mo. Term SOFR + <br> 2.24%), 6.39%, 08/15/37<br>|  | 236 | &nbsp;&nbsp; 236221 |
| &nbsp;&nbsp;&nbsp; Extended Stay America Trust, Series 2021-ESH, <br> Class D, (1-mo. Term SOFR + 2.36%), 6.51%, <br> 07/15/38<sup>(a)(b)</sup><br>|  | 1627 | &nbsp;&nbsp; 1627523 |
| GS Mortgage Securities Corp. Trust<sup>(a)(b)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp; (1-mo. Term SOFR + 3.45%), 7.59%, 11/25/41 |  | 400 | &nbsp;&nbsp; 399959 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-800D, Class A, (1-mo. Term SOFR + <br> 2.65%), 6.79%, 11/25/41<br>|  | 216 | &nbsp;&nbsp; 216306 |
| &nbsp;&nbsp;&nbsp; GS Mortgage Securities Trust, Series 2019-GC38, <br> Class AAB, 3.84%, 02/10/52<br>|  | 624 | &nbsp;&nbsp; 621121 |
| &nbsp;&nbsp;&nbsp; Hilton USA Trust, Series 2025-NVIL, Class B, (1-mo. <br> Term SOFR + 2.19%), 6.34%, 07/15/42<sup>(a)(b)</sup><br>|  | 218 | &nbsp;&nbsp; 218818 |
| &nbsp;&nbsp;&nbsp; JW Commercial Mortgage Trust, Series 2024-MRCO, <br> Class C, (1-mo. Term SOFR + 2.39%), 6.54%, <br> 06/15/39<sup>(a)(b)</sup><br>|  | 800 | &nbsp;&nbsp; 801500 |
| &nbsp;&nbsp;&nbsp; MIC Trust, Series 2023-MIC, Class B, 9.86%, <br> 12/05/38<sup>(a)(b)</sup><br>|  | 234 | &nbsp;&nbsp; 253546 |
| &nbsp;&nbsp;&nbsp; Morgan Stanley Bank of America Merrill Lynch Trust, <br> Series 2015-C22, Class A4, 3.31%, 04/15/48<br>|  | 176 | &nbsp;&nbsp; 173000 |
| &nbsp;&nbsp;&nbsp; PENN Commercial Mortgage Trust, Series 2025-P11, <br> Class A, 5.52%, 08/10/42<sup>(a)(b)</sup><br>|  | 314 | &nbsp;&nbsp; 319574 |
| &nbsp;&nbsp;&nbsp; SELF Commercial Mortgage Trust, Series 2024-STRG, <br> Class D, (1-mo. Term SOFR + 2.94%), 7.09%, <br> 11/15/34<sup>(a)(b)</sup><br>|  | 270 | &nbsp;&nbsp; 269409 |
| &nbsp;&nbsp;&nbsp; UBS Commercial Mortgage Trust, Series 2019-C18, <br> Class A4, 3.04%, 12/15/52<br>|  | 1200 | &nbsp;&nbsp; 1119403 |
| &nbsp;&nbsp;&nbsp; VEGAS, Series 2024-GCS, Class D, 6.42%, <br> 07/10/36<sup>(a)(b)</sup><br>|  | 650 | &nbsp;&nbsp; 643001 |
| &nbsp;&nbsp;&nbsp; VRTX Trust, Series 2025-HQ, Class B, 5.67%, <br> 08/05/42<sup>(a)(b)</sup><br>|  | 730 | &nbsp;&nbsp; 737242 |
| Wells Fargo Commercial Mortgage Trust |  |  |  |
| &nbsp;&nbsp;&nbsp; Series 2016-LC25, Class A4, 3.64%, 12/15/59 |  | 1700 | &nbsp;&nbsp; 1680879 |
| &nbsp;&nbsp;&nbsp; Series 2024-BPRC, Class D, 7.08%, 07/15/43<sup>(b)</sup> |  | 250 | &nbsp;&nbsp; 251823 |
| &nbsp;&nbsp;&nbsp; Series 2025-5C3, Class A3, 6.10%, 01/15/58 |  | 611 | &nbsp;&nbsp; 648103 |
|  |  |  | &nbsp;&nbsp; 25647699 |
| **Total Non-Agency Mortgage-Backed Securities — 13.1%** <br>**(Cost: $98,563,479)** | **Total Non-Agency Mortgage-Backed Securities — 13.1%** <br>**(Cost: $98,563,479)** | **Total Non-Agency Mortgage-Backed Securities — 13.1%** <br>**(Cost: $98,563,479)** | &nbsp;&nbsp; 95961597 |
| **Preferred Securities** | **Preferred Securities** | **Preferred Securities** | **Preferred Securities** |
| **Capital Trusts — 7.0%**<sup>(a)</sup> | **Capital Trusts — 7.0%**<sup>(a)</sup> | **Capital Trusts — 7.0%**<sup>(a)</sup> | **Capital Trusts — 7.0%**<sup>(a)</sup> |
| **Automobiles — 0.4%** | **Automobiles — 0.4%** | **Automobiles — 0.4%** |  |
| General Motors Financial Co., Inc., Series C, 5.70%<sup>(i)</sup> |  | 2500 | &nbsp;&nbsp; 2488950 |
| **Banks**<sup>(i)</sup> **— 3.7%** | **Banks**<sup>(i)</sup> **— 3.7%** | **Banks**<sup>(i)</sup> **— 3.7%** |  |
| Bank of America Corp. |  |  |  |
| &nbsp;&nbsp;&nbsp; 6.63% |  | 7650 | &nbsp;&nbsp; 7959741 |
| &nbsp;&nbsp;&nbsp; Series FF, 5.88%<sup>(f)</sup> |  | 3500 | &nbsp;&nbsp; 3535896 |
| Barclays PLC |  |  |  |
| &nbsp;&nbsp;&nbsp; 4.38% |  | 310 | &nbsp;&nbsp; 297393 |

---

---

| | | | |
|:---|:---|:---|:---|
| *Security* |  | *Par*<br> *(000)*<br>| *Value* |
| **Banks (continued)** | **Banks (continued)** | **Banks (continued)** |  |
| Barclays PLC (continued) |  |  |  |
| &nbsp;&nbsp;&nbsp; 9.63% | USD | 640 | &nbsp;&nbsp; $726568 |
| Citigroup, Inc. |  |  |  |
| &nbsp;&nbsp;&nbsp; Series BB, 7.20% |  | 2500 | &nbsp;&nbsp; 2580377 |
| &nbsp;&nbsp;&nbsp; Series FF, 6.95% |  | 2500 | &nbsp;&nbsp; 2567517 |
| HSBC Holdings PLC |  |  |  |
| &nbsp;&nbsp;&nbsp; 4.70% |  | 275 | &nbsp;&nbsp; 259433 |
| &nbsp;&nbsp;&nbsp; 6.00%<sup>(f)</sup> |  | 235 | &nbsp;&nbsp; 235912 |
| &nbsp;&nbsp;&nbsp; 6.50%<sup>(f)</sup> |  | 1090 | &nbsp;&nbsp; 1113407 |
| ING Groep NV, Series NC10, 4.25% |  | 1500 | &nbsp;&nbsp; 1337264 |
| Krung Thai Bank PCL/Cayman Islands, 4.40%<sup>(d)</sup> |  | 252 | &nbsp;&nbsp; 250583 |
| Lloyds Banking Group PLC, 6.75% |  | 595 | &nbsp;&nbsp; 601277 |
| NatWest Group PLC, 8.13% |  | 225 | &nbsp;&nbsp; 253295 |
| PNC Financial Services Group, Inc., Series W, 6.25%<sup>(f)</sup> |  | 3584 | &nbsp;&nbsp; 3677546 |
| U.S. Bancorp, Series J, 5.30%<sup>(f)</sup> |  | 1900 | &nbsp;&nbsp; 1894381 |
|  |  |  | &nbsp;&nbsp; 27290590 |
| **Capital Markets — 0.2%** | **Capital Markets — 0.2%** | **Capital Markets — 0.2%** |  |
| State Street Corp., 5.30%, 06/01/77 |  | 1485 | &nbsp;&nbsp; 1343770 |
| **Electric Utilities — 0.9%** | **Electric Utilities — 0.9%** | **Electric Utilities — 0.9%** |  |
| NextEra Energy Capital Holdings, Inc., 5.65%, 05/01/79 |  | 4750 | &nbsp;&nbsp; 4775063 |
| PG&E Corp., 7.38%, 03/15/55 |  | 1723 | &nbsp;&nbsp; 1770124 |
|  |  |  | &nbsp;&nbsp; 6545187 |
| **Financial Services**<sup>(i)</sup> **— 1.5%** | **Financial Services**<sup>(i)</sup> **— 1.5%** | **Financial Services**<sup>(i)</sup> **— 1.5%** |  |
| Bank of New York Mellon Corp., Series F, 4.63% |  | 2750 | &nbsp;&nbsp; 2730921 |
| Goldman Sachs Group, Inc., Series W, 7.50% |  | 2500 | &nbsp;&nbsp; 2653275 |
| NatWest Group PLC, 6.00% |  | 1575 | &nbsp;&nbsp; 1576824 |
| UBS Group AG<sup>(b)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp; 4.88% |  | 2000 | &nbsp;&nbsp; 1969222 |
| &nbsp;&nbsp;&nbsp; Series NC10, 9.25% |  | 1200 | &nbsp;&nbsp; 1429040 |
| &nbsp;&nbsp;&nbsp; Series NC5, 9.25% |  | 400 | &nbsp;&nbsp; 440606 |
|  |  |  | &nbsp;&nbsp; 10799888 |
| **Health Care Equipment & Supplies — 0.2%** | **Health Care Equipment & Supplies — 0.2%** | **Health Care Equipment & Supplies — 0.2%** |  |
| CVS Health Corp. |  |  |  |
| &nbsp;&nbsp;&nbsp; 6.75%, 12/10/54 |  | 320 | &nbsp;&nbsp; 330315 |
| &nbsp;&nbsp;&nbsp; 7.00%, 03/10/55 |  | 1305 | &nbsp;&nbsp; 1369915 |
|  |  |  | &nbsp;&nbsp; 1700230 |
| **Independent Power and Renewable Electricity Producers**<sup>(b)(i)</sup> **— 0.1%** | **Independent Power and Renewable Electricity Producers**<sup>(b)(i)</sup> **— 0.1%** | **Independent Power and Renewable Electricity Producers**<sup>(b)(i)</sup> **— 0.1%** |  |
| NRG Energy, Inc., 10.25% |  | 340 | &nbsp;&nbsp; 370724 |
| Vistra Corp., 7.00% |  | 141 | &nbsp;&nbsp; 143153 |
|  |  |  | &nbsp;&nbsp; 513877 |
| **Utilities — 0.0%** | **Utilities — 0.0%** | **Utilities — 0.0%** |  |
| Electricite de France SA, 3.38%<sup>(d)(i)</sup> | EUR | 200 | &nbsp;&nbsp; 225121 |
|  |  |  | &nbsp;&nbsp; 50907613 |

---

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

---

| | | |
|:---|:---|:---|
|  | <br>*Shares*<br>|  |
| **Preferred Stocks — 0.0%**<sup>(e)</sup> | **Preferred Stocks — 0.0%**<sup>(e)</sup> | **Preferred Stocks — 0.0%**<sup>(e)</sup> |
| **Financial Services — 0.0%** | **Financial Services — 0.0%** |  |
| Federal National Mortgage Association, Series S<sup>(a)(i)</sup> | 10000 | &nbsp;&nbsp; 166000 |

---

------

Schedule of Investments (unaudited)(continued)

September 30, 2025

**BlackRock Core Bond Trust (BHK)** 

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | <br> *Shares*<br>| *Value* |
| **IT Services**<sup>(c)</sup> **— 0.0%** | **IT Services**<sup>(c)</sup> **— 0.0%** |  |
| Veritas Kapital Assurance PLC |  |  |
| &nbsp;&nbsp;&nbsp; Series G | 428 | &nbsp;&nbsp; $9737 |
| &nbsp;&nbsp;&nbsp; Series G-1 | 296 | &nbsp;&nbsp; 6734 |
|  |  | &nbsp;&nbsp; 16471 |
|  |  | &nbsp;&nbsp; 182471 |
| **Trust Preferred — 0.1%** | **Trust Preferred — 0.1%** | **Trust Preferred — 0.1%** |
| **Financial Services — 0.1%** | **Financial Services — 0.1%** |  |
| Citigroup Capital XIII, 10/30/40<sup>(a)(e)</sup> | 29583 | &nbsp;&nbsp; 892519 |
|  |  | &nbsp;&nbsp; 892519 |
| **Total Preferred Securities — 7.1%** <br>**(Cost: $50,169,126)** | **Total Preferred Securities — 7.1%** <br>**(Cost: $50,169,126)** | &nbsp;&nbsp; 51982603 |

---

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

---

| | | | |
|:---|:---|:---|:---|
|  |  | *Par* <br>*(000)*<br>|  |
| **U.S. Government Sponsored Agency Securities** | **U.S. Government Sponsored Agency Securities** | **U.S. Government Sponsored Agency Securities** | **U.S. Government Sponsored Agency Securities** |
| **Agency Obligations — 0.7%** | **Agency Obligations — 0.7%** | **Agency Obligations — 0.7%** |  |
| &nbsp;&nbsp;&nbsp; Resolution Funding Corp. Principal Strip, 0.00%, <br> 04/15/30<sup>(k)</sup><br>| USD | 6055 | &nbsp;&nbsp; 5066363 |
| **Collateralized Mortgage Obligations — 5.3%** | **Collateralized Mortgage Obligations — 5.3%** | **Collateralized Mortgage Obligations — 5.3%** |  |
| Fannie Mae REMICS |  |  |  |
| &nbsp;&nbsp;&nbsp; Series 2015-47, Class GL, 3.50%, 07/25/45 |  | 1636 | &nbsp;&nbsp; 1496856 |
| &nbsp;&nbsp;&nbsp; Series 2022-25, Class KL, 4.00%, 05/25/52 |  | 14500 | &nbsp;&nbsp; 13396090 |
| &nbsp;&nbsp;&nbsp; Series 2025-24, Class PZ, 5.00%, 03/25/55 |  | 5126 | &nbsp;&nbsp; 4898252 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 5499, Class FW, (30-day Avg SOFR + 1.40%), <br> 5.76%, 02/25/55<sup>(a)</sup><br>|  | 4494 | &nbsp;&nbsp; 4526413 |
| Freddie Mac REMICS |  |  |  |
| &nbsp;&nbsp;&nbsp; Series 4350, Class DY, 4.00%, 06/15/44 |  | 1301 | &nbsp;&nbsp; 1267534 |
| &nbsp;&nbsp;&nbsp; Series 4398, Class ZX, 4.00%, 09/15/54 |  | 11907 | &nbsp;&nbsp; 11038357 |
| &nbsp;&nbsp;&nbsp; Series 4549, Class TZ, 4.00%, 11/15/45 |  | 2522 | &nbsp;&nbsp; 2456076 |
|  |  |  | &nbsp;&nbsp; 39079578 |
| **Interest Only Collateralized Mortgage Obligations — 1.4%** | **Interest Only Collateralized Mortgage Obligations — 1.4%** | **Interest Only Collateralized Mortgage Obligations — 1.4%** |  |
| Fannie Mae REMICS |  |  |  |
| &nbsp;&nbsp;&nbsp; Series 2012-47, Class NI, 4.50%, 04/25/42 |  | 559 | &nbsp;&nbsp; 75225 |
| &nbsp;&nbsp;&nbsp; Series 5112, Class KI, 3.50%, 06/25/51 |  | 13973 | &nbsp;&nbsp; 2612901 |
| Ginnie Mae |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2009-116, Class KS, (1-mo. Term SOFR + <br> 6.36%), 2.21%, 12/16/39<sup>(a)</sup><br>|  | 472 | &nbsp;&nbsp; 47161 |
| &nbsp;&nbsp;&nbsp; Series 2019-151, Class IA, 3.50%, 12/20/49 |  | 26340 | &nbsp;&nbsp; 4895898 |
| &nbsp;&nbsp;&nbsp; Series 2021-175, Class IE, 4.00%, 09/20/47 |  | 12657 | &nbsp;&nbsp; 2637809 |
|  |  |  | &nbsp;&nbsp; 10268994 |
| **Mortgage-Backed Securities**<sup>(f)</sup> **— 8.9%** | **Mortgage-Backed Securities**<sup>(f)</sup> **— 8.9%** | **Mortgage-Backed Securities**<sup>(f)</sup> **— 8.9%** |  |
| &nbsp;&nbsp;&nbsp; Fannie Mae Mortgage-Backed Securities, 4.00%, <br> 04/01/56<br>|  | 768 | &nbsp;&nbsp; 725401 |
| Freddie Mac Mortgage-Backed Securities |  |  |  |
| &nbsp;&nbsp;&nbsp; 4.00%, 05/01/39 |  | 3649 | &nbsp;&nbsp; 3589049 |
| &nbsp;&nbsp;&nbsp; 4.50%, 03/01/47 |  | 447 | &nbsp;&nbsp; 447524 |
| Ginnie Mae Mortgage-Backed Securities |  |  |  |
| &nbsp;&nbsp;&nbsp; 5.50%, 08/15/33 - 07/20/55 |  | 1181 | &nbsp;&nbsp; 1201832 |
| &nbsp;&nbsp;&nbsp; 6.00%, 07/20/55 |  | 760 | &nbsp;&nbsp; 788460 |
| Uniform Mortgage-Backed Securities |  |  |  |
| &nbsp;&nbsp;&nbsp; 1.50%, 05/01/31 |  | 4121 | &nbsp;&nbsp; 3883377 |
| &nbsp;&nbsp;&nbsp; 5.00%, 08/01/34 - 11/01/45 |  | 22560 | &nbsp;&nbsp; 22875844 |
| &nbsp;&nbsp;&nbsp; 4.50%, 06/01/37 - 06/01/44 |  | 11195 | &nbsp;&nbsp; 11178775 |
| &nbsp;&nbsp;&nbsp; 5.50%, 12/01/37 - 08/01/54 |  | 7835 | &nbsp;&nbsp; 7993854 |
| &nbsp;&nbsp;&nbsp; 6.00%, 12/01/38 - 08/01/55 |  | 1607 | &nbsp;&nbsp; 1655217 |
| &nbsp;&nbsp;&nbsp; 3.50%, 09/01/42 - 04/01/53 |  | 2409 | &nbsp;&nbsp; 2219826 |

---

---

| | | | |
|:---|:---|:---|:---|
| *Security* |  | *Par*<br> *(000)*<br>| *Value* |
| **Mortgage-Backed Securities (continued)** | **Mortgage-Backed Securities (continued)** | **Mortgage-Backed Securities (continued)** |  |
| Uniform Mortgage-Backed Securities (continued) |  |  |  |
| &nbsp;&nbsp;&nbsp; 3.00%, 02/01/52 | USD | 1714 | &nbsp;&nbsp; $1506360 |
| &nbsp;&nbsp;&nbsp; 4.00%, 05/01/52 - 09/01/52 |  | 3440 | &nbsp;&nbsp; 3277430 |
| &nbsp;&nbsp;&nbsp; 6.50%, 10/01/53 |  | 3623 | &nbsp;&nbsp; 3746835 |
|  |  |  | &nbsp;&nbsp; 65089784 |
| **Total U.S. Government Sponsored Agency Securities — 16.3%** <br>**(Cost: $121,242,358)** | **Total U.S. Government Sponsored Agency Securities — 16.3%** <br>**(Cost: $121,242,358)** | **Total U.S. Government Sponsored Agency Securities — 16.3%** <br>**(Cost: $121,242,358)** | &nbsp;&nbsp; 119504719 |
| **U.S. Treasury Obligations** | **U.S. Treasury Obligations** | **U.S. Treasury Obligations** | **U.S. Treasury Obligations** |
| U.S. Treasury Bonds<sup>(f)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp; 4.38%, 02/15/38 |  | 1600 | &nbsp;&nbsp; 1613562 |
| &nbsp;&nbsp;&nbsp; 4.13%, 08/15/44 |  | 30400 | &nbsp;&nbsp; 28217375 |
| &nbsp;&nbsp;&nbsp; 3.00%, 11/15/45 |  | 54500 | &nbsp;&nbsp; 42201309 |
| &nbsp;&nbsp;&nbsp; 3.13%, 05/15/48 |  | 1900 | &nbsp;&nbsp; 1465078 |
| &nbsp;&nbsp;&nbsp; 4.63%, 05/15/54 |  | 63500 | &nbsp;&nbsp; 62388750 |
| &nbsp;&nbsp;&nbsp; 4.75%, 05/15/55 |  | 70000 | &nbsp;&nbsp; 70218750 |
| U.S. Treasury Notes<sup>(f)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp; 3.63%, 05/31/28 |  | 1900 | &nbsp;&nbsp; 1900297 |
| &nbsp;&nbsp;&nbsp; 4.88%, 10/31/28 |  | 7800 | &nbsp;&nbsp; 8077875 |
| **Total U.S. Treasury Obligations — 29.6%** <br>**(Cost: $215,047,486)** | **Total U.S. Treasury Obligations — 29.6%** <br>**(Cost: $215,047,486)** | **Total U.S. Treasury Obligations — 29.6%** <br>**(Cost: $215,047,486)** | &nbsp;&nbsp; 216082996 |
| **Total Long-Term Investments — 145.3%** <br>**(Cost: $1,058,692,056)** | **Total Long-Term Investments — 145.3%** <br>**(Cost: $1,058,692,056)** | **Total Long-Term Investments — 145.3%** <br>**(Cost: $1,058,692,056)** | &nbsp;&nbsp; 1061956476 |

---

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

---

| | | |
|:---|:---|:---|
|  | <br>*Shares*<br>|  |
| **Short-Term Securities** | **Short-Term Securities** | **Short-Term Securities** |
| **Money Market Funds — 1.1%** | **Money Market Funds — 1.1%** |  |
| &nbsp;&nbsp;&nbsp; BlackRock Liquidity Funds, T-Fund, Institutional Shares, <br> 4.01%<sup>(p)(q)</sup><br>| 8165942 | &nbsp;&nbsp; 8165942 |

---

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

---

| | | | |
|:---|:---|:---|:---|
|  |  | *Par* <br>*(000)*<br>|  |
| **U.S. Treasury Obligations — 7.2%** | **U.S. Treasury Obligations — 7.2%** | **U.S. Treasury Obligations — 7.2%** |  |
| U.S. Treasury Notes<sup>(f)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp; 5.00%, 10/31/25 | USD | 26000 | &nbsp;&nbsp; 26016433 |
| &nbsp;&nbsp;&nbsp; 0.63%, 07/31/26 |  | 27500 | &nbsp;&nbsp; 26795742 |
|  |  |  | &nbsp;&nbsp; 52812175 |
| **Total Short-Term Securities — 8.3%** <br>**(Cost: $60,885,533)** | **Total Short-Term Securities — 8.3%** <br>**(Cost: $60,885,533)** | **Total Short-Term Securities — 8.3%** <br>**(Cost: $60,885,533)** | &nbsp;&nbsp; 60978117 |
| **Total Investments — 153.6%** <br>**(Cost: $1,119,577,589)** | **Total Investments — 153.6%** <br>**(Cost: $1,119,577,589)** | **Total Investments — 153.6%** <br>**(Cost: $1,119,577,589)** | &nbsp;&nbsp; 1122934593 |
| **Liabilities in Excess of Other Assets — (53.6)%** | **Liabilities in Excess of Other Assets — (53.6)%** | **Liabilities in Excess of Other Assets — (53.6)%** | &nbsp;&nbsp; (391879093)<br>|
| **Net Assets — 100.0%** | **Net Assets — 100.0%** | **Net Assets — 100.0%** | &nbsp;&nbsp; $731055500 |

---

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

<sup>(a)</sup> Variable rate security. Interest rate resets periodically. The rate shown is the effective interest rate as of period end. Security description also includes the reference rate and spread if published and available. 

<sup>(b)</sup> Security exempt from registration pursuant to Rule 144A under the Securities Act of 1933, as amended. These securities may be resold in transactions exempt from registration to qualified institutional investors. 

<sup>(c)</sup> Security is valued using significant unobservable inputs and is classified as Level 3 in the fair value hierarchy. 

<sup>(d)</sup> This security may be resold to qualified foreign investors and foreign institutional buyers under Regulation S of the Securities Act of 1933. 

<sup>(e)</sup> Non-income producing security.

Schedule of Investments

------

Schedule of Investments (unaudited)(continued)

September 30, 2025

**BlackRock Core Bond Trust (BHK)** 

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

<sup>(f)</sup> All or a portion of the security has been pledged as collateral in connection with outstanding reverse repurchase agreements. 

<sup>(g)</sup> When-issued security.

<sup>(h)</sup> Payment-in-kind security which may pay interest/dividends in additional par/shares and/or in cash. Rates shown are the current rate and possible payment rates. 

<sup>(i)</sup> Perpetual security with no stated maturity date.

<sup>(j)</sup> Convertible security.

<sup>(k)</sup> Zero-coupon bond.

<sup>(l)</sup> Step coupon security. Coupon rate will either increase (step-up bond) or decrease (step- down bond) at regular intervals until maturity. Interest rate shown reflects the rate currently in effect. 

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

<sup>(m)</sup> Issuer filed for bankruptcy and/or is in default.

<sup>(n)</sup> Represents an unsettled loan commitment at period end. Certain details associated with this purchase are not known prior to the settlement date, including coupon rate. 

<sup>(o)</sup> Rounds to less than 1,000.

<sup>(p)</sup> Affiliate of the Trust.

<sup>(q)</sup> Annualized 7-day yield as of period end.

For purposes of this report, industry and sector sub-classifications may differ from those utilized by the Trust for compliance purposes.

**Affiliates**

Investments in issuers considered to be affiliate(s) of the Trust during the period ended September 30, 2025 for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows:

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| *Affiliated Issuer* | *Value at* <br>*12/31/24*<br>| *Proceeds* <br>*from Sales*<br>| *Net* <br>*Realized* <br>*Gain (Loss)*<br>| *Change in* <br>*Unrealized* <br>*Appreciation* <br>*(Depreciation)*<br>| *Value at* <br>*09/30/25*<br>| *Shares* <br>*Held at* <br>*09/30/25*<br>| *Income* | *Capital Gain* <br>*Distributions* <br>*from* <br>*Underlying* <br>*Funds*<br>|
| BlackRock Liquidity Funds, T-Fund, Institutional Shares | $4465196<br> $3700746 <br><sup>(a)</sup><br>| &nbsp;&nbsp; $— | $— | $— | $8165942 | 8165942 | $180137 | $— |

---

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

<sup>(a)</sup> Represents net amount purchased (sold).

**Reverse Repurchase Agreements** 

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| *Counterparty* | &nbsp;&nbsp; *Trade* <br>*Date*<br>| &nbsp;&nbsp; *Maturity* <br>*Date*<sup>(a)</sup> <br>| *Face Value* | &nbsp;&nbsp; *Face Value* <br>*Including* <br>*Accrued Interest*<br>| &nbsp;&nbsp; *Type of Non-Cash Underlying* <br> *Collateral*<br>| &nbsp;&nbsp; *Remaining* <br>*Contractual Maturity* <br>*of the Agreements*<sup>(a)</sup> <br>|
| U.S. Bancorp Investments, Inc.<br> 4.06 %<sup>(b)</sup><br>| 04/07/25 | Open | &nbsp;&nbsp;&nbsp; $3105000 | &nbsp;&nbsp;&nbsp; $3170798 | Corporate Bonds | Open/Demand |
| U.S. Bancorp Investments, Inc.<br> 4.06 <br><sup>(b)</sup><br>| 04/07/25 | Open | &nbsp;&nbsp;&nbsp; 551375 | &nbsp;&nbsp;&nbsp; 563059 | Corporate Bonds | Open/Demand |
| Goldman Sachs & Co. LLC<br> 4.20 <br><sup>(b)</sup><br>| 05/19/25 | Open | &nbsp;&nbsp;&nbsp; 112416 | &nbsp;&nbsp;&nbsp; 114292 | Corporate Bonds | Open/Demand |
| Goldman Sachs & Co. LLC<br> 4.20 <br><sup>(b)</sup><br>| 05/19/25 | Open | &nbsp;&nbsp;&nbsp; 373125 | &nbsp;&nbsp;&nbsp; 379352 | Corporate Bonds | Open/Demand |
| HSBC Bank PLC<br> 4.20 <br><sup>(b)</sup><br>| 06/16/25 | Open | &nbsp;&nbsp;&nbsp; 3869257 | &nbsp;&nbsp;&nbsp; 3920433 | Corporate Bonds | Open/Demand |
| Nomura Securities International, Inc.<br> 4.07 <br><sup>(b)</sup><br>| 07/01/25 | Open | &nbsp;&nbsp;&nbsp; 45483 | &nbsp;&nbsp;&nbsp; 45985 | Corporate Bonds | Open/Demand |
| Nomura Securities International, Inc.<br> 4.15 <br><sup>(b)</sup><br>| 07/01/25 | Open | &nbsp;&nbsp;&nbsp; 581398 | &nbsp;&nbsp;&nbsp; 587936 | Corporate Bonds | Open/Demand |
| Nomura Securities International, Inc.<br> 4.17 <br><sup>(b)</sup><br>| 07/01/25 | Open | &nbsp;&nbsp;&nbsp; 309129 | &nbsp;&nbsp;&nbsp; 312621 | Corporate Bonds | Open/Demand |
| Nomura Securities International, Inc.<br> 4.17 <br><sup>(b)</sup><br>| 07/01/25 | Open | &nbsp;&nbsp;&nbsp; 971250 | &nbsp;&nbsp;&nbsp; 982221 | Corporate Bonds | Open/Demand |
| BNP Paribas SA<br> 4.28 <br><sup>(b)</sup><br>| 07/10/25 | Open | &nbsp;&nbsp;&nbsp; 1434500 | &nbsp;&nbsp;&nbsp; 1449159 | U.S. Treasury Obligations | Open/Demand |
| BNP Paribas SA<br> 4.30 <br><sup>(b)</sup><br>| 07/10/25 | Open | &nbsp;&nbsp;&nbsp; 8121750 | &nbsp;&nbsp;&nbsp; 8204745 | U.S. Treasury Obligations | Open/Demand |
| BNP Paribas SA<br> 4.30 <br><sup>(b)</sup><br>| 07/10/25 | Open | &nbsp;&nbsp;&nbsp; 1610000 | &nbsp;&nbsp;&nbsp; 1626452 | U.S. Treasury Obligations | Open/Demand |
| BNP Paribas SA<br> 4.30 <br><sup>(b)</sup><br>| 07/10/25 | Open | &nbsp;&nbsp;&nbsp; 41351875 | &nbsp;&nbsp;&nbsp; 41774445 | U.S. Treasury Obligations | Open/Demand |
| Nomura Securities International, Inc.<br> 4.30 <br><sup>(b)</sup><br>| 07/10/25 | Open | &nbsp;&nbsp;&nbsp; 1897625 | &nbsp;&nbsp;&nbsp; 1917028 | U.S. Treasury Obligations | Open/Demand |
| BNP Paribas SA<br> 4.14 <br><sup>(b)</sup><br>| 07/21/25 | Open | &nbsp;&nbsp;&nbsp; 467280 | &nbsp;&nbsp;&nbsp; 471383 | Corporate Bonds | Open/Demand |
| BNP Paribas SA<br> 4.17 <br><sup>(b)</sup><br>| 07/21/25 | Open | &nbsp;&nbsp;&nbsp; 3065440 | &nbsp;&nbsp;&nbsp; 3092538 | Capital Trusts | Open/Demand |
| BNP Paribas SA<br> 4.20 <br><sup>(b)</sup><br>| 07/21/25 | Open | &nbsp;&nbsp;&nbsp; 1178205 | &nbsp;&nbsp;&nbsp; 1188691 | Capital Trusts | Open/Demand |
| BNP Paribas Securities Corp.<br> 4.12 <br><sup>(b)</sup><br>| 07/21/25 | Open | &nbsp;&nbsp;&nbsp; 101400 | &nbsp;&nbsp;&nbsp; 102286 | Corporate Bonds | Open/Demand |
| BNP Paribas Securities Corp.<br> 4.15 <br><sup>(b)</sup><br>| 07/21/25 | Open | &nbsp;&nbsp;&nbsp; 610650 | &nbsp;&nbsp;&nbsp; 616024 | Corporate Bonds | Open/Demand |
| BNP Paribas Securities Corp.<br> 4.15 <br><sup>(b)</sup><br>| 07/21/25 | Open | &nbsp;&nbsp;&nbsp; 132678 | &nbsp;&nbsp;&nbsp; 133845 | Corporate Bonds | Open/Demand |
| BNP Paribas Securities Corp.<br> 4.20 <br><sup>(b)</sup><br>| 07/21/25 | Open | &nbsp;&nbsp;&nbsp; 1385560 | &nbsp;&nbsp;&nbsp; 1397891 | Corporate Bonds | Open/Demand |
| BNP Paribas Securities Corp.<br> 4.20 <br><sup>(b)</sup><br>| 07/21/25 | Open | &nbsp;&nbsp;&nbsp; 207080 | &nbsp;&nbsp;&nbsp; 208923 | Corporate Bonds | Open/Demand |
| Nomura Securities International, Inc.<br> 4.30 <br><sup>(b)</sup><br>| 07/22/25 | Open | &nbsp;&nbsp;&nbsp; 26640625 | &nbsp;&nbsp;&nbsp; 26873701 | U.S. Treasury Obligations | Open/Demand |
| Citigroup Global Markets, Inc.<br> 4.23 <br><sup>(b)</sup><br>| 07/28/25 | Open | &nbsp;&nbsp;&nbsp; 486250 | &nbsp;&nbsp;&nbsp; 490183 | Corporate Bonds | Open/Demand |
| BNP Paribas Securities Corp.<br> 4.14 <br><sup>(b)</sup><br>| 08/05/25 | Open | &nbsp;&nbsp;&nbsp; 572986 | &nbsp;&nbsp;&nbsp; 576969 | Corporate Bonds | Open/Demand |
| Citigroup Global Markets, Inc.<br> 4.26 <br><sup>(b)</sup><br>| 08/06/25 | Open | &nbsp;&nbsp;&nbsp; 70087500 | &nbsp;&nbsp;&nbsp; 70565029 | U.S. Treasury Obligations | Open/Demand |
| Citigroup Global Markets, Inc.<br> 4.30 <br><sup>(b)</sup><br>| 08/06/25 | Open | &nbsp;&nbsp;&nbsp; 62150625 | &nbsp;&nbsp;&nbsp; 62576978 | U.S. Treasury Obligations | Open/Demand |
| Citigroup Global Markets, Inc.<br> 4.30 <br><sup>(b)</sup><br>| 08/06/25 | Open | &nbsp;&nbsp;&nbsp; 28424000 | &nbsp;&nbsp;&nbsp; 28618989 | U.S. Treasury Obligations | Open/Demand |
| Citigroup Global Markets, Inc.<br> 4.30 <br><sup>(b)</sup><br>| 08/06/25 | Open | &nbsp;&nbsp;&nbsp; 26390000 | &nbsp;&nbsp;&nbsp; 26571035 | U.S. Treasury Obligations | Open/Demand |
| Goldman Sachs & Co. LLC<br> 4.10 <br><sup>(b)</sup><br>| 08/07/25 | Open | &nbsp;&nbsp;&nbsp; 98840 | &nbsp;&nbsp;&nbsp; 99497 | Corporate Bonds | Open/Demand |
| Morgan Stanley & Co. LLC<br> 3.75 <br><sup>(b)</sup><br>| 08/13/25 | Open | &nbsp;&nbsp;&nbsp; 428085 | &nbsp;&nbsp;&nbsp; 430416 | Corporate Bonds | Open/Demand |

---

------

Schedule of Investments (unaudited)(continued)

September 30, 2025

**BlackRock Core Bond Trust (BHK)** 

**Reverse Repurchase Agreements (continued)**

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| *Counterparty* | *Interest*<br> *Rate*<br>| &nbsp;&nbsp; *Trade*<br> *Date*<br>| &nbsp;&nbsp; *Maturity*<br> *Date*<sup>(a)</sup><br>| *Face Value* | &nbsp;&nbsp; *Face Value*<br> *Including*<br> *Accrued Interest*<br>| &nbsp;&nbsp; *Type of Non-Cash Underlying* <br> *Collateral*<br>| &nbsp;&nbsp; *Remaining*<br> *Contractual Maturity*<br> *of the Agreements*<sup>(a)</sup><br>|
| Morgan Stanley & Co. LLC | 0.50 %<sup>(b)</sup><br>| 08/19/25 | Open | &nbsp;&nbsp;&nbsp; $71049 | &nbsp;&nbsp;&nbsp; $71112 | Corporate Bonds | Open/Demand |
| Morgan Stanley & Co. LLC | 0.75 <br><sup>(b)</sup><br>| 08/19/25 | Open | &nbsp;&nbsp;&nbsp; 72675 | &nbsp;&nbsp;&nbsp; 72762 | Corporate Bonds | Open/Demand |
| Morgan Stanley & Co. LLC | &nbsp;&nbsp; (0.25 )<sup>(b)</sup><br>| 08/26/25 | Open | &nbsp;&nbsp;&nbsp; 53300 | &nbsp;&nbsp;&nbsp; 53300 | Corporate Bonds | Open/Demand |
| Morgan Stanley & Co. LLC | 3.50 <br><sup>(b)</sup><br>| 08/26/25 | Open | &nbsp;&nbsp;&nbsp; 259569 | &nbsp;&nbsp;&nbsp; 260542 | Corporate Bonds | Open/Demand |
| Morgan Stanley & Co. LLC | 3.25 <br><sup>(b)</sup><br>| 09/04/25 | Open | &nbsp;&nbsp;&nbsp; 150000 | &nbsp;&nbsp;&nbsp; 150394 | Corporate Bonds | Open/Demand |
| Morgan Stanley & Co. LLC | 3.75 <br><sup>(b)</sup><br>| 09/09/25 | Open | &nbsp;&nbsp;&nbsp; 233479 | &nbsp;&nbsp;&nbsp; 234050 | Corporate Bonds | Open/Demand |
| Bank of Montreal | 4.33 | 09/12/25 | 10/14/25 | &nbsp;&nbsp;&nbsp; 6863114 | &nbsp;&nbsp;&nbsp; 6876322 | &nbsp;&nbsp;&nbsp; U.S. Government Sponsored <br> Agency Securities<br>| Up to 30 Days |
| Wells Fargo Securities, LLC | 4.32 | 09/12/25 | 10/14/25 | &nbsp;&nbsp;&nbsp; 321424 | &nbsp;&nbsp;&nbsp; 322041 | &nbsp;&nbsp;&nbsp; U.S. Government Sponsored <br> Agency Securities<br>| Up to 30 Days |
| Wells Fargo Securities, LLC | 4.32 | 09/12/25 | 10/14/25 | &nbsp;&nbsp;&nbsp; 833252 | &nbsp;&nbsp;&nbsp; 834851 | &nbsp;&nbsp;&nbsp; U.S. Government Sponsored <br> Agency Securities<br>| Up to 30 Days |
| Wells Fargo Securities, LLC | 4.32 | 09/12/25 | 10/14/25 | &nbsp;&nbsp;&nbsp; 150870 | &nbsp;&nbsp;&nbsp; 151160 | &nbsp;&nbsp;&nbsp; U.S. Government Sponsored <br> Agency Securities<br>| Up to 30 Days |
| Wells Fargo Securities, LLC | 4.32 | 09/12/25 | 10/14/25 | &nbsp;&nbsp;&nbsp; 1508435 | &nbsp;&nbsp;&nbsp; 1511331 | &nbsp;&nbsp;&nbsp; U.S. Government Sponsored <br> Agency Securities<br>| Up to 30 Days |
| Wells Fargo Securities, LLC | 4.32 | 09/12/25 | 10/14/25 | &nbsp;&nbsp;&nbsp; 1167016 | &nbsp;&nbsp;&nbsp; 1169257 | &nbsp;&nbsp;&nbsp; U.S. Government Sponsored <br> Agency Securities<br>| Up to 30 Days |
| Wells Fargo Securities, LLC | 4.32 | 09/12/25 | 10/14/25 | &nbsp;&nbsp;&nbsp; 3598317 | &nbsp;&nbsp;&nbsp; 3605225 | &nbsp;&nbsp;&nbsp; U.S. Government Sponsored <br> Agency Securities<br>| Up to 30 Days |
| Wells Fargo Securities, LLC | 4.32 | 09/12/25 | 10/14/25 | &nbsp;&nbsp;&nbsp; 3649796 | &nbsp;&nbsp;&nbsp; 3656804 | &nbsp;&nbsp;&nbsp; U.S. Government Sponsored <br> Agency Securities<br>| Up to 30 Days |
| Wells Fargo Securities, LLC | 4.32 | 09/12/25 | 10/14/25 | &nbsp;&nbsp;&nbsp; 463700 | &nbsp;&nbsp;&nbsp; 464591 | &nbsp;&nbsp;&nbsp; U.S. Government Sponsored <br> Agency Securities<br>| Up to 30 Days |
| Wells Fargo Securities, LLC | 4.32 | 09/12/25 | 10/14/25 | &nbsp;&nbsp;&nbsp; 527326 | &nbsp;&nbsp;&nbsp; 528339 | &nbsp;&nbsp;&nbsp; U.S. Government Sponsored <br> Agency Securities<br>| Up to 30 Days |
| Wells Fargo Securities, LLC | 4.32 | 09/12/25 | 10/14/25 | &nbsp;&nbsp;&nbsp; 247083 | &nbsp;&nbsp;&nbsp; 247557 | &nbsp;&nbsp;&nbsp; U.S. Government Sponsored <br> Agency Securities<br>| Up to 30 Days |
| Wells Fargo Securities, LLC | 4.32 | 09/12/25 | 10/14/25 | &nbsp;&nbsp;&nbsp; 127495 | &nbsp;&nbsp;&nbsp; 127739 | &nbsp;&nbsp;&nbsp; U.S. Government Sponsored <br> Agency Securities<br>| Up to 30 Days |
| Wells Fargo Securities, LLC | 4.32 | 09/12/25 | 10/14/25 | &nbsp;&nbsp;&nbsp; 1336383 | &nbsp;&nbsp;&nbsp; 1338949 | &nbsp;&nbsp;&nbsp; U.S. Government Sponsored <br> Agency Securities<br>| Up to 30 Days |
| Wells Fargo Securities, LLC | 4.32 | 09/12/25 | 10/14/25 | &nbsp;&nbsp;&nbsp; 346607 | &nbsp;&nbsp;&nbsp; 347273 | &nbsp;&nbsp;&nbsp; U.S. Government Sponsored <br> Agency Securities<br>| Up to 30 Days |
| Wells Fargo Securities, LLC | 4.32 | 09/12/25 | 10/14/25 | &nbsp;&nbsp;&nbsp; 12660650 | &nbsp;&nbsp;&nbsp; 12684958 | &nbsp;&nbsp;&nbsp; U.S. Government Sponsored <br> Agency Securities<br>| Up to 30 Days |
| Wells Fargo Securities, LLC | 4.32 | 09/12/25 | 10/14/25 | &nbsp;&nbsp;&nbsp; 802914 | &nbsp;&nbsp;&nbsp; 804456 | &nbsp;&nbsp;&nbsp; U.S. Government Sponsored <br> Agency Securities<br>| Up to 30 Days |
| Wells Fargo Securities, LLC | 4.32 | 09/12/25 | 10/14/25 | &nbsp;&nbsp;&nbsp; 3357087 | &nbsp;&nbsp;&nbsp; 3363533 | &nbsp;&nbsp;&nbsp; U.S. Government Sponsored <br> Agency Securities<br>| Up to 30 Days |
| Wells Fargo Securities, LLC | 4.32 | 09/12/25 | 10/14/25 | &nbsp;&nbsp;&nbsp; 714096 | &nbsp;&nbsp;&nbsp; 715467 | &nbsp;&nbsp;&nbsp; U.S. Government Sponsored <br> Agency Securities<br>| Up to 30 Days |
| Wells Fargo Securities, LLC | 4.32 | 09/12/25 | 10/14/25 | &nbsp;&nbsp;&nbsp; 429775 | &nbsp;&nbsp;&nbsp; 430600 | &nbsp;&nbsp;&nbsp; U.S. Government Sponsored <br> Agency Securities<br>| Up to 30 Days |
| Wells Fargo Securities, LLC | 4.32 | 09/12/25 | 10/14/25 | &nbsp;&nbsp;&nbsp; 1626835 | &nbsp;&nbsp;&nbsp; 1629959 | &nbsp;&nbsp;&nbsp; U.S. Government Sponsored <br> Agency Securities<br>| Up to 30 Days |
| Wells Fargo Securities, LLC | 4.32 | 09/12/25 | 10/14/25 | &nbsp;&nbsp;&nbsp; 1468243 | &nbsp;&nbsp;&nbsp; 1471062 | &nbsp;&nbsp;&nbsp; U.S. Government Sponsored <br> Agency Securities<br>| Up to 30 Days |
| Wells Fargo Securities, LLC | 4.32 | 09/12/25 | 10/14/25 | &nbsp;&nbsp;&nbsp; 187002 | &nbsp;&nbsp;&nbsp; 187361 | &nbsp;&nbsp;&nbsp; U.S. Government Sponsored <br> Agency Securities<br>| Up to 30 Days |
| Wells Fargo Securities, LLC | 4.32 | 09/12/25 | 10/14/25 | &nbsp;&nbsp;&nbsp; 1411431 | &nbsp;&nbsp;&nbsp; 1414141 | &nbsp;&nbsp;&nbsp; U.S. Government Sponsored <br> Agency Securities<br>| Up to 30 Days |
| Wells Fargo Securities, LLC | 4.32 | 09/12/25 | 10/14/25 | &nbsp;&nbsp;&nbsp; 1077678 | &nbsp;&nbsp;&nbsp; 1079747 | &nbsp;&nbsp;&nbsp; U.S. Government Sponsored <br> Agency Securities<br>| Up to 30 Days |
| Wells Fargo Securities, LLC | 4.32 | 09/12/25 | 10/14/25 | &nbsp;&nbsp;&nbsp; 118877 | &nbsp;&nbsp;&nbsp; 119105 | &nbsp;&nbsp;&nbsp; U.S. Government Sponsored <br> Agency Securities<br>| Up to 30 Days |
| Wells Fargo Securities, LLC | 4.32 | 09/12/25 | 10/14/25 | &nbsp;&nbsp;&nbsp; 2055895 | &nbsp;&nbsp;&nbsp; 2059843 | &nbsp;&nbsp;&nbsp; U.S. Government Sponsored <br> Agency Securities<br>| Up to 30 Days |
| Wells Fargo Securities, LLC | 4.32 | 09/12/25 | 10/14/25 | &nbsp;&nbsp;&nbsp; 753931 | &nbsp;&nbsp;&nbsp; 755379 | &nbsp;&nbsp;&nbsp; U.S. Government Sponsored <br> Agency Securities<br>| Up to 30 Days |
| Wells Fargo Securities, LLC | 4.32 | 09/12/25 | 10/14/25 | &nbsp;&nbsp;&nbsp; 706546 | &nbsp;&nbsp;&nbsp; 707903 | &nbsp;&nbsp;&nbsp; U.S. Government Sponsored <br> Agency Securities<br>| Up to 30 Days |

---

Schedule of Investments

------

Schedule of Investments (unaudited)(continued)

September 30, 2025

**BlackRock Core Bond Trust (BHK)** 

**Reverse Repurchase Agreements (continued)**

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| *Counterparty* | *Interest*<br> *Rate*<br>| &nbsp;&nbsp; *Trade*<br> *Date*<br>| &nbsp;&nbsp; *Maturity*<br> *Date*<sup>(a)</sup><br>| *Face Value* | &nbsp;&nbsp; *Face Value*<br> *Including*<br> *Accrued Interest*<br>| &nbsp;&nbsp; *Type of Non-Cash Underlying* <br> *Collateral*<br>| &nbsp;&nbsp; *Remaining*<br> *Contractual Maturity*<br> *of the Agreements*<sup>(a)</sup><br>|
| Wells Fargo Securities, LLC | 4.32<br> % <br>| 09/12/25 | 10/14/25 | &nbsp;&nbsp;&nbsp; $159451 | &nbsp;&nbsp;&nbsp; $159757 | &nbsp;&nbsp;&nbsp; U.S. Government Sponsored <br> Agency Securities<br>| Up to 30 Days |
| Wells Fargo Securities, LLC | 4.32 | 09/12/25 | 10/14/25 | &nbsp;&nbsp;&nbsp; 1225270 | &nbsp;&nbsp;&nbsp; 1227623 | &nbsp;&nbsp;&nbsp; U.S. Government Sponsored <br> Agency Securities<br>| Up to 30 Days |
| Wells Fargo Securities, LLC | 4.32 | 09/12/25 | 10/14/25 | &nbsp;&nbsp;&nbsp; 1823638 | &nbsp;&nbsp;&nbsp; 1827139 | &nbsp;&nbsp;&nbsp; U.S. Government Sponsored <br> Agency Securities<br>| Up to 30 Days |
| Wells Fargo Securities, LLC | 4.32 | 09/12/25 | 10/14/25 | &nbsp;&nbsp;&nbsp; 422970 | &nbsp;&nbsp;&nbsp; 423783 | &nbsp;&nbsp;&nbsp; U.S. Government Sponsored <br> Agency Securities<br>| Up to 30 Days |
| Wells Fargo Securities, LLC | 4.32 | 09/12/25 | 10/14/25 | &nbsp;&nbsp;&nbsp; 713074 | &nbsp;&nbsp;&nbsp; 714444 | &nbsp;&nbsp;&nbsp; U.S. Government Sponsored <br> Agency Securities<br>| Up to 30 Days |
| Wells Fargo Securities, LLC | 4.32 | 09/12/25 | 10/14/25 | &nbsp;&nbsp;&nbsp; 1133877 | &nbsp;&nbsp;&nbsp; 1136054 | &nbsp;&nbsp;&nbsp; U.S. Government Sponsored <br> Agency Securities<br>| Up to 30 Days |
| Wells Fargo Securities, LLC | 4.32 | 09/12/25 | 10/14/25 | &nbsp;&nbsp;&nbsp; 806457 | &nbsp;&nbsp;&nbsp; 808005 | &nbsp;&nbsp;&nbsp; U.S. Government Sponsored <br> Agency Securities<br>| Up to 30 Days |
| Wells Fargo Securities, LLC | 4.32 | 09/12/25 | 10/14/25 | &nbsp;&nbsp;&nbsp; 1290399 | &nbsp;&nbsp;&nbsp; 1292876 | &nbsp;&nbsp;&nbsp; U.S. Government Sponsored <br> Agency Securities<br>| Up to 30 Days |
| Wells Fargo Securities, LLC | 4.32 | 09/12/25 | 10/14/25 | &nbsp;&nbsp;&nbsp; 199495 | &nbsp;&nbsp;&nbsp; 199878 | &nbsp;&nbsp;&nbsp; U.S. Government Sponsored <br> Agency Securities<br>| Up to 30 Days |
| Wells Fargo Securities, LLC | 4.32 | 09/12/25 | 10/14/25 | &nbsp;&nbsp;&nbsp; 875921 | &nbsp;&nbsp;&nbsp; 877603 | &nbsp;&nbsp;&nbsp; U.S. Government Sponsored <br> Agency Securities<br>| Up to 30 Days |
| Morgan Stanley & Co. LLC | 2.35 <br><sup>(b)</sup><br>| 09/12/25 | Open | &nbsp;&nbsp;&nbsp; 365919 | &nbsp;&nbsp;&nbsp; 366421 | Corporate Bonds | Open/Demand |
| Wells Fargo Securities, LLC | 4.32 | 09/17/25 | 10/14/25 | &nbsp;&nbsp;&nbsp; 1439409 | &nbsp;&nbsp;&nbsp; 1441827 | &nbsp;&nbsp;&nbsp; U.S. Government Sponsored <br> Agency Securities<br>| Up to 30 Days |
| J.P. Morgan Securities LLC | 4.05 | 09/19/25 | 10/02/25 | &nbsp;&nbsp;&nbsp; 268757 | &nbsp;&nbsp;&nbsp; 269120 | Corporate Bonds | Up to 30 Days |
| J.P. Morgan Securities LLC | 4.15 | 09/19/25 | 10/02/25 | &nbsp;&nbsp;&nbsp; 149750 | &nbsp;&nbsp;&nbsp; 149957 | Corporate Bonds | Up to 30 Days |
| J.P. Morgan Securities LLC | 4.20 | 09/19/25 | 10/02/25 | &nbsp;&nbsp;&nbsp; 1661020 | &nbsp;&nbsp;&nbsp; 1663345 | Corporate Bonds | Up to 30 Days |
| Barclays Bank PLC | 4.24 | 09/19/25 | 10/31/25 | &nbsp;&nbsp;&nbsp; 3800000 | &nbsp;&nbsp;&nbsp; 3805371 | Corporate Bonds | Up to 30 Days |
| Barclays Bank PLC | 4.24 | 09/19/25 | 10/31/25 | &nbsp;&nbsp;&nbsp; 3918750 | &nbsp;&nbsp;&nbsp; 3924288 | Corporate Bonds | Up to 30 Days |
| Barclays Capital, Inc. | 4.20 | 09/19/25 | 10/31/25 | &nbsp;&nbsp;&nbsp; 1059306 | &nbsp;&nbsp;&nbsp; 1060789 | Capital Trusts | Up to 30 Days |
| Barclays Capital, Inc. | 4.20 | 09/19/25 | 10/31/25 | &nbsp;&nbsp;&nbsp; 224719 | &nbsp;&nbsp;&nbsp; 225033 | Capital Trusts | Up to 30 Days |
| Barclays Capital, Inc. | 4.20 | 09/19/25 | 10/31/25 | &nbsp;&nbsp;&nbsp; 119858 | &nbsp;&nbsp;&nbsp; 120025 | Capital Trusts | Up to 30 Days |
| Barclays Capital, Inc. | 4.20 | 09/19/25 | 10/31/25 | &nbsp;&nbsp;&nbsp; 79905 | &nbsp;&nbsp;&nbsp; 80017 | Capital Trusts | Up to 30 Days |
| Barclays Capital, Inc. | 4.20 | 09/19/25 | 10/31/25 | &nbsp;&nbsp;&nbsp; 2231250 | &nbsp;&nbsp;&nbsp; 2234374 | Corporate Bonds | Up to 30 Days |
| Barclays Capital, Inc. | 4.20 | 09/19/25 | 10/31/25 | &nbsp;&nbsp;&nbsp; 827500 | &nbsp;&nbsp;&nbsp; 828659 | Corporate Bonds | Up to 30 Days |
| Barclays Capital, Inc. | 4.20 | 09/19/25 | 10/31/25 | &nbsp;&nbsp;&nbsp; 955000 | &nbsp;&nbsp;&nbsp; 956337 | Corporate Bonds | Up to 30 Days |
| Barclays Capital, Inc. | 4.20 | 09/19/25 | 10/31/25 | &nbsp;&nbsp;&nbsp; 1142812 | &nbsp;&nbsp;&nbsp; 1144412 | Corporate Bonds | Up to 30 Days |
| BofA Securities, Inc. | 3.70 | 09/19/25 | 10/31/25 | &nbsp;&nbsp;&nbsp; 47768 | &nbsp;&nbsp;&nbsp; 47826 | Corporate Bonds | Up to 30 Days |
| BofA Securities, Inc. | 3.90 | 09/19/25 | 10/31/25 | &nbsp;&nbsp;&nbsp; 526990 | &nbsp;&nbsp;&nbsp; 527675 | Corporate Bonds | Up to 30 Days |
| BofA Securities, Inc. | 3.90 | 09/19/25 | 10/31/25 | &nbsp;&nbsp;&nbsp; 165887 | &nbsp;&nbsp;&nbsp; 166103 | Corporate Bonds | Up to 30 Days |
| BofA Securities, Inc. | 4.00 | 09/19/25 | 10/31/25 | &nbsp;&nbsp;&nbsp; 91053 | &nbsp;&nbsp;&nbsp; 91174 | Corporate Bonds | Up to 30 Days |
| BofA Securities, Inc. | 4.05 | 09/19/25 | 10/31/25 | &nbsp;&nbsp;&nbsp; 1440146 | &nbsp;&nbsp;&nbsp; 1442090 | Corporate Bonds | Up to 30 Days |
| BofA Securities, Inc. | 4.10 | 09/19/25 | 10/31/25 | &nbsp;&nbsp;&nbsp; 311330 | &nbsp;&nbsp;&nbsp; 311755 | Corporate Bonds | Up to 30 Days |
| BofA Securities, Inc. | 4.10 | 09/19/25 | 10/31/25 | &nbsp;&nbsp;&nbsp; 483920 | &nbsp;&nbsp;&nbsp; 484581 | Corporate Bonds | Up to 30 Days |
| BofA Securities, Inc. | 4.10 | 09/19/25 | 10/31/25 | &nbsp;&nbsp;&nbsp; 984637 | &nbsp;&nbsp;&nbsp; 985983 | Corporate Bonds | Up to 30 Days |
| BofA Securities, Inc. | 4.15 | 09/19/25 | 10/31/25 | &nbsp;&nbsp;&nbsp; 267375 | &nbsp;&nbsp;&nbsp; 267745 | Corporate Bonds | Up to 30 Days |
| BofA Securities, Inc. | 4.15 | 09/19/25 | 10/31/25 | &nbsp;&nbsp;&nbsp; 109838 | &nbsp;&nbsp;&nbsp; 109989 | Corporate Bonds | Up to 30 Days |
| BofA Securities, Inc. | 4.15 | 09/19/25 | 10/31/25 | &nbsp;&nbsp;&nbsp; 140828 | &nbsp;&nbsp;&nbsp; 141022 | Corporate Bonds | Up to 30 Days |
| BofA Securities, Inc. | 4.15 | 09/19/25 | 10/31/25 | &nbsp;&nbsp;&nbsp; 633420 | &nbsp;&nbsp;&nbsp; 634296 | Corporate Bonds | Up to 30 Days |
| BofA Securities, Inc. | 4.20 | 09/19/25 | 10/31/25 | &nbsp;&nbsp;&nbsp; 82031 | &nbsp;&nbsp;&nbsp; 82146 | Corporate Bonds | Up to 30 Days |
| BofA Securities, Inc. | 4.20 | 09/19/25 | 10/31/25 | &nbsp;&nbsp;&nbsp; 222480 | &nbsp;&nbsp;&nbsp; 222791 | Corporate Bonds | Up to 30 Days |
| BofA Securities, Inc. | 4.20 | 09/19/25 | 10/31/25 | &nbsp;&nbsp;&nbsp; 1260000 | &nbsp;&nbsp;&nbsp; 1261764 | Corporate Bonds | Up to 30 Days |
| BofA Securities, Inc. | 4.20 | 09/19/25 | 10/31/25 | &nbsp;&nbsp;&nbsp; 451250 | &nbsp;&nbsp;&nbsp; 451882 | Corporate Bonds | Up to 30 Days |
| BofA Securities, Inc. | 4.20 | 09/19/25 | 10/31/25 | &nbsp;&nbsp;&nbsp; 1687500 | &nbsp;&nbsp;&nbsp; 1689863 | Corporate Bonds | Up to 30 Days |
| BofA Securities, Inc. | 4.20 | 09/19/25 | 10/31/25 | &nbsp;&nbsp;&nbsp; 423559 | &nbsp;&nbsp;&nbsp; 424152 | Corporate Bonds | Up to 30 Days |
| BofA Securities, Inc. | 4.20 | 09/19/25 | 10/31/25 | &nbsp;&nbsp;&nbsp; 831852 | &nbsp;&nbsp;&nbsp; 833017 | Corporate Bonds | Up to 30 Days |
| BofA Securities, Inc. | 4.20 | 09/19/25 | 10/31/25 | &nbsp;&nbsp;&nbsp; 2804910 | &nbsp;&nbsp;&nbsp; 2808837 | Corporate Bonds | Up to 30 Days |
| BofA Securities, Inc. | 4.20 | 09/19/25 | 10/31/25 | &nbsp;&nbsp;&nbsp; 1648250 | &nbsp;&nbsp;&nbsp; 1650558 | Capital Trusts | Up to 30 Days |
| BofA Securities, Inc. | 4.20 | 09/19/25 | 10/31/25 | &nbsp;&nbsp;&nbsp; 149000 | &nbsp;&nbsp;&nbsp; 149209 | Corporate Bonds | Up to 30 Days |
| BofA Securities, Inc. | 4.20 | 09/19/25 | 10/31/25 | &nbsp;&nbsp;&nbsp; 2932500 | &nbsp;&nbsp;&nbsp; 2936606 | Corporate Bonds | Up to 30 Days |
| BofA Securities, Inc. | 4.20 | 09/19/25 | 10/31/25 | &nbsp;&nbsp;&nbsp; 3870000 | &nbsp;&nbsp;&nbsp; 3875418 | Corporate Bonds | Up to 30 Days |
| BofA Securities, Inc. | 4.20 | 09/19/25 | 10/31/25 | &nbsp;&nbsp;&nbsp; 414509 | &nbsp;&nbsp;&nbsp; 415089 | Corporate Bonds | Up to 30 Days |
| BofA Securities, Inc. | 4.20 | 09/19/25 | 10/31/25 | &nbsp;&nbsp;&nbsp; 380587 | &nbsp;&nbsp;&nbsp; 381120 | Corporate Bonds | Up to 30 Days |

---

------

Schedule of Investments (unaudited)(continued)

September 30, 2025

**BlackRock Core Bond Trust (BHK)** 

**Reverse Repurchase Agreements (continued)**

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| *Counterparty* | *Interest*<br> *Rate*<br>| &nbsp;&nbsp; *Trade*<br> *Date*<br>| &nbsp;&nbsp; *Maturity*<br> *Date*<sup>(a)</sup><br>| *Face Value* | &nbsp;&nbsp; *Face Value*<br> *Including*<br> *Accrued Interest*<br>| &nbsp;&nbsp; *Type of Non-Cash Underlying* <br> *Collateral*<br>| &nbsp;&nbsp; *Remaining*<br> *Contractual Maturity*<br> *of the Agreements*<sup>(a)</sup><br>|
| BofA Securities, Inc. | 4.20<br> % <br>| 09/19/25 | 10/31/25 | &nbsp;&nbsp;&nbsp; $724750 | &nbsp;&nbsp;&nbsp; $725765 | Corporate Bonds | Up to 30 Days |
| Morgan Stanley & Co. LLC | 3.75 <br><sup>(b)</sup><br>| 09/23/25 | Open | &nbsp;&nbsp;&nbsp; 50000 | &nbsp;&nbsp;&nbsp; 50036 | Corporate Bonds | Open/Demand |
| RBC Capital Markets, LLC | 4.24 <br><sup>(b)</sup><br>| 09/29/25 | Open | &nbsp;&nbsp;&nbsp; 1887500 | &nbsp;&nbsp;&nbsp; 1887945 | Corporate Bonds | Open/Demand |
| Barclays Capital, Inc. | 4.24 | 09/30/25 | 10/31/25 | &nbsp;&nbsp;&nbsp; 6074062 | &nbsp;&nbsp;&nbsp; 6074778 | Foreign Agency Obligations | Up to 30 Days |
| BofA Securities, Inc. | 4.10 | 09/30/25 | 10/31/25 | &nbsp;&nbsp;&nbsp; 86070 | &nbsp;&nbsp;&nbsp; 86070 | Corporate Bonds | Up to 30 Days |
|  |  |  |  | &nbsp;&nbsp;&nbsp; $394191746 | &nbsp;&nbsp;&nbsp; $396664439 |  |  |

---

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

<sup>(a)</sup> Certain agreements have no stated maturity and can be terminated by either party at any time.

<sup>(b)</sup> Variable rate security. Rate as of period end and maturity is the date the principal owed can be recovered through demand.

**Derivative Financial Instruments Outstanding as of Period End**

**Futures Contracts** 

---

| | | | | |
|:---|:---|:---|:---|:---|
| *Description* | *Number of* <br>*Contracts*<br>| &nbsp;&nbsp;&nbsp; *Expiration* <br>*Date*<br>| &nbsp;&nbsp;&nbsp; *Notional* <br>*Amount (000)*<br>| &nbsp;&nbsp;&nbsp; *Value/* <br>*Unrealized* <br>*Appreciation* <br>&nbsp;&nbsp;&nbsp;&nbsp;*(Depreciation)*<br>|
| Long Contracts  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; U.S. Long Bond | &nbsp;&nbsp; 45 | &nbsp;&nbsp;&nbsp;&nbsp; 12/19/25 | &nbsp;&nbsp;&nbsp;&nbsp; $5248 | &nbsp;&nbsp;&nbsp;&nbsp; $99033 |
| &nbsp;&nbsp;&nbsp; Ultra U.S. Treasury Bond | &nbsp;&nbsp; 156 | &nbsp;&nbsp;&nbsp;&nbsp; 12/19/25 | &nbsp;&nbsp;&nbsp;&nbsp; 18749 | &nbsp;&nbsp;&nbsp;&nbsp; 529700 |
| &nbsp;&nbsp;&nbsp; 2-Year U.S. Treasury Note | &nbsp;&nbsp; 157 | &nbsp;&nbsp;&nbsp;&nbsp; 12/31/25 | &nbsp;&nbsp;&nbsp;&nbsp; 32714 | &nbsp;&nbsp;&nbsp;&nbsp; (38230)<br>|
| &nbsp;&nbsp;&nbsp; 5-Year U.S. Treasury Note | &nbsp;&nbsp; 63 | &nbsp;&nbsp;&nbsp;&nbsp; 12/31/25 | &nbsp;&nbsp;&nbsp;&nbsp; 6878 | &nbsp;&nbsp;&nbsp;&nbsp; (1651)<br>|
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp; 588852 |
| Short Contracts  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; 10-Year U.S. Treasury Note | &nbsp;&nbsp; 136 | &nbsp;&nbsp;&nbsp;&nbsp; 12/19/25 | &nbsp;&nbsp;&nbsp;&nbsp; 15300 | &nbsp;&nbsp;&nbsp;&nbsp; (111782)<br>|
| &nbsp;&nbsp;&nbsp; 10-Year U.S. Ultra Long Treasury Note | &nbsp;&nbsp; 147 | &nbsp;&nbsp;&nbsp;&nbsp; 12/19/25 | &nbsp;&nbsp;&nbsp;&nbsp; 16916 | &nbsp;&nbsp;&nbsp;&nbsp; 16751 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp; (95031)<br>|
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp; $493821 |

---

**Forward Foreign Currency Exchange Contracts** 

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| *Currency Purchased* | *Currency Purchased* | *Currency Sold* | *Currency Sold* | *Counterparty* | *Settlement Date* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; *Unrealized* <br>*Appreciation* <br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*(Depreciation)*<br>|
| USD | 34233 | EUR | 29040 | Deutsche Bank AG | 10/16/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $110 |
| USD | 82155 | EUR | 69855 | Deutsche Bank AG | 10/16/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 71 |
| USD | 116198 | EUR | 98812 | Deutsche Bank AG | 10/16/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 88 |
| USD | 118178 | EUR | 99679 | Deutsche Bank AG | 10/16/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1050 |
| USD | 121162 | EUR | 103021 | Deutsche Bank AG | 10/16/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 107 |
| USD | 128170 | EUR | 108982 | Deutsche Bank AG | 10/16/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 111 |
| USD | 215719 | EUR | 183443 | Deutsche Bank AG | 10/16/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 164 |
| USD | 99482 | CAD | 137000 | Barclays Bank PLC | 12/17/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 687 |
| USD | 8586118 | EUR | 7261000 | Morgan Stanley & Co. International PLC | 12/17/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 23955 |
| USD | 107204 | EUR | 90000 | Royal Bank of Canada | 12/17/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1076 |
| USD | 92144 | EUR | 78000 | State Street Bank and Trust Co. | 12/17/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 167 |
| USD | 541114 | GBP | 399000 | Morgan Stanley & Co. International PLC | 12/17/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4444 |
|  |  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 32030 |
| USD | 72117 | EUR | 61769 | Citibank N.A. | 10/16/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (465)<br>|
| USD | 121052 | EUR | 103683 | Citibank N.A. | 10/16/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (781)<br>|
| USD | 281745 | EUR | 241319 | Citibank N.A. | 10/16/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (1818)<br>|
| USD | 114802 | EUR | 98000 | Natwest Markets PLC | 12/17/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (759)<br>|
| USD | 235086 | EUR | 200000 | Natwest Markets PLC | 12/17/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (754)<br>|
| USD | 117674 | EUR | 100000 | State Street Bank and Trust Co. | 12/17/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (246)<br>|
|  |  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (4823)<br>|
|  |  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $27207 |

---

Schedule of Investments

------

Schedule of Investments (unaudited)(continued)

September 30, 2025

**BlackRock Core Bond Trust (BHK)** 

**Centrally Cleared Credit Default Swaps — Buy Protection** 

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| *Reference Obligation/Index* | *Financing* <br>*Rate Paid* <br>*by the Trust*<br>| &nbsp;&nbsp; *Payment* <br>*Frequency*<br>| &nbsp;&nbsp; *Termination* <br>*Date*<br>| &nbsp;&nbsp;&nbsp; *Notional* <br>*Amount (000)* | &nbsp;&nbsp;&nbsp; *Notional* <br>*Amount (000)* | *Value* | &nbsp;&nbsp; *Upfront* <br>*Premium* <br>*Paid* <br>&nbsp;&nbsp;&nbsp;&nbsp;*(Received)*<br>| &nbsp;&nbsp; *Unrealized* <br>*Appreciation* <br>&nbsp;&nbsp;&nbsp;&nbsp;*(Depreciation)*<br>|
| CDX.NA.HY.45.V1 | 5.00<br> % <br>| &nbsp;&nbsp;&nbsp;&nbsp; Quarterly | &nbsp;&nbsp;&nbsp;&nbsp; 12/20/30 | USD | 7800 | &nbsp;&nbsp;&nbsp;&nbsp; $(613101)<br>| &nbsp;&nbsp;&nbsp;&nbsp; $(597124)<br>| &nbsp;&nbsp;&nbsp;&nbsp; $(15977)<br>|
| CDX.NA.IG.45.V1 | 1.00 | &nbsp;&nbsp;&nbsp;&nbsp; Quarterly | &nbsp;&nbsp;&nbsp;&nbsp; 12/20/30 | USD | 16025 | &nbsp;&nbsp;&nbsp;&nbsp; (368887)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (367015)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (1872)<br>|
|  |  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp; $(981988)<br>| &nbsp;&nbsp;&nbsp;&nbsp; $(964139)<br>| &nbsp;&nbsp;&nbsp;&nbsp; $(17849)<br>|

---

**OTC Credit Default Swaps — Sell Protection** 

---

| | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| *Reference Obligation/Index* | *Financing* <br>*Rate Received* <br>*by the Trust*<br>| &nbsp;&nbsp; *Payment* <br>*Frequency*<br>| *Counterparty* | *Termination* <br>*Date*<br>| *Credit* <br>*Rating*<sup>(a)</sup> <br>| *Notional* <br>*Amount (000)*<sup>(b)</sup>  | *Notional* <br>*Amount (000)*<sup>(b)</sup>  | *Value* | *Upfront* <br>*Premium* <br>*Paid* <br>*(Received)*<br>| *Unrealized* <br>*Appreciation* <br>*(Depreciation)*<br>|
| Virgin Media Finance PLC | 5.00<br> % <br>| Quarterly | JPMorgan Chase Bank N.A. | 12/20/25 | B- | EUR | 10 | $124 | $184 | $(60)<br>|
| CMA CGM SA | 5.00 | Quarterly | &nbsp;&nbsp;&nbsp; Morgan Stanley & Co. <br> International PLC<br>| 06/20/27 | BB+ | EUR | 20 | 1676 | 1779 | (103)<br>|
| Adler Real Estate AG | 5.00 | Quarterly | Bank of America N.A. | 12/20/27 | CCC | EUR | 5 | 356 | (516)<br>| 872 |
| Adler Real Estate AG | 5.00 | Quarterly | Barclays Bank PLC | 12/20/27 | CCC | EUR | 3 | 214 | (294)<br>| 508 |
| Adler Real Estate AG | 5.00 | Quarterly | Barclays Bank PLC | 12/20/27 | CCC | EUR | 9 | 602 | (827)<br>| 1429 |
| Adler Real Estate AG | 5.00 | Quarterly | Citibank N.A. | 12/20/27 | CCC | EUR | 3 | 175 | (246)<br>| 421 |
| Adler Real Estate AG | 5.00 | Quarterly | JPMorgan Chase Bank N.A. | 12/20/27 | CCC | EUR | 6 | 366 | (542)<br>| 908 |
| Adler Real Estate AG | 5.00 | Quarterly | &nbsp;&nbsp;&nbsp; Morgan Stanley & Co. <br> International PLC<br>| 12/20/27 | CCC | EUR | 4 | 265 | (380)<br>| 645 |
| Faurecia SE | 5.00 | Quarterly | Barclays Bank PLC | 06/20/29 | BB- | EUR | 13 | 1647 | 1308 | 339 |
| iTraxx.XO.42.V3 20-35% | 5.00 | Quarterly | BNP Paribas SA | 12/20/29 | B | EUR | 18 | 2954 | 2306 | 648 |
|  |  |  |  |  |  |  |  | $8379 | $2772 | $5607 |

---

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

<sup>(a)</sup> Using the rating of the issuer or the underlying securities of the index, as applicable, provided by S&P Global Ratings.

<sup>(b)</sup> The maximum potential amount the Trust may pay should a negative credit event take place as defined under the terms of the agreement.

**Fair Value Hierarchy as of Period End**

Various inputs are used in determining the fair value of financial instruments at the measurement date. These inputs to valuation techniques are categorized into a fair value hierarchy consisting of three broad levels for financial reporting purposes as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Level 1 – Unadjusted price quotations in active markets/exchanges that the Trust has the ability to access for identical assets or liabilities;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Level 2 – Inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Level 3 – Inputs that are unobservable and significant to the entire fair value measurement for the asset or liability (including the Valuation Committee's assumptions used in determining the fair value of financial instruments).

The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurements) and the lowest priority to unobservable inputs (Level 3 measurements). Accordingly, the degree of judgment exercised in determining fair value is greatest for instruments categorized in Level 3. The inputs used to measure fair value may fall into different levels of the fair value hierarchy. In such cases, for disclosure purposes, the fair value hierarchy classification is determined based on the lowest level input that is significant to the fair value measurement in its entirety. Investments classified within Level 3 have significant unobservable inputs used by the Valuation Committee in determining the price for Fair Valued Investments. Level 3 investments include equity or debt issued by privately held companies or funds that may not have a secondary market and/or may have a limited number of investors. The categorization of a value determined for financial instruments is based on the pricing transparency of the financial instruments and is not necessarily an indication of the risks associated with investing in those securities. For information about the Trust's policy regarding valuation of financial instruments, refer to its most recent financial statements.

The following table summarizes the Trust's financial instruments categorized in the fair value hierarchy. The breakdown of the Trust's financial instruments into major categories is disclosed in the Schedule of Investments above.

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | *Level 1* | *Level 2* | *Level 3* | *Total* |
| Assets |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Investments  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Long-Term Investments  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Asset-Backed Securities | &nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp;&nbsp; $65938444 | &nbsp;&nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp;&nbsp; $65938444 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Common Stocks | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 10695 | &nbsp;&nbsp;&nbsp;&nbsp; 10695 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Corporate Bonds | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 444268083 | &nbsp;&nbsp;&nbsp;&nbsp; 2302351 | &nbsp;&nbsp;&nbsp;&nbsp; 446570434 |

---

------

Schedule of Investments (unaudited)(continued)

September 30, 2025

**BlackRock Core Bond Trust (BHK)** 

**Fair Value Hierarchy as of Period End (continued)**

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | *Level 1* | *Level 2* | *Level 3* | *Total* |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Fixed Rate Loan Interests | &nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp;&nbsp; $2541324 | &nbsp;&nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp;&nbsp; $2541324 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Floating Rate Loan Interests | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 15739931 | &nbsp;&nbsp;&nbsp;&nbsp; 731601 | &nbsp;&nbsp;&nbsp;&nbsp; 16471532 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Foreign Agency Obligations | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 14115959 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 14115959 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Municipal Bonds | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 32776173 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 32776173 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Non-Agency Mortgage-Backed Securities | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 95961597 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 95961597 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Preferred Securities |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Capital Trusts | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 50907613 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 50907613 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Preferred Stocks | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 166000 | &nbsp;&nbsp;&nbsp;&nbsp; 16471 | &nbsp;&nbsp;&nbsp;&nbsp; 182471 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Trust Preferred | &nbsp;&nbsp; 892519 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 892519 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; U.S. Government Sponsored Agency Securities | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 119504719 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 119504719 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; U.S. Treasury Obligations | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 216082996 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 216082996 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Short-Term Securities  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Money Market Funds | &nbsp;&nbsp; 8165942 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 8165942 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; U.S. Treasury Obligations | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 52812175 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 52812175 |
| &nbsp;&nbsp;&nbsp; Unfunded Floating Rate Loan Interests<sup>(a)</sup> | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 630 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 630 |
| Liabilities |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Unfunded Floating Rate Loan Interests<sup>(a)</sup> | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (7)<br>| &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (7)<br>|
|  | &nbsp;&nbsp; $9058461 | &nbsp;&nbsp;&nbsp;&nbsp; $1110815637 | &nbsp;&nbsp;&nbsp;&nbsp; $3061118 | &nbsp;&nbsp;&nbsp;&nbsp; $1122935216 |
| Derivative Financial Instruments<sup>(b)</sup> <br>|  |  |  |  |
| &nbsp;&nbsp;&nbsp; Assets  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Credit Contracts | &nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp;&nbsp; $5770 | &nbsp;&nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp;&nbsp; $5770 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Foreign Currency Exchange Contracts | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 32030 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 32030 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Interest Rate Contracts | &nbsp;&nbsp; 645484 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 645484 |
| &nbsp;&nbsp;&nbsp; Liabilities  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Credit Contracts | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (18012)<br>| &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (18012)<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Foreign Currency Exchange Contracts | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (4823)<br>| &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (4823)<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Interest Rate Contracts | &nbsp;&nbsp; (151663)<br>| &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (151663)<br>|
|  | &nbsp;&nbsp; $493821 | &nbsp;&nbsp;&nbsp;&nbsp; $14965 | &nbsp;&nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp;&nbsp; $508786 |

---

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

<sup>(a)</sup> Unfunded floating rate loan interests are valued at the unrealized appreciation (depreciation) on the commitment.

<sup>(b)</sup> Derivative financial instruments are swaps, futures contracts and forward foreign currency exchange contracts. Swaps, futures contracts and forward foreign currency exchange contracts are valued at the unrealized appreciation (depreciation) on the instrument. 

The Trust may hold assets and/or liabilities in which the fair value approximates the carrying amount or face value, including accrued interest, for financial reporting purposes. As of period end, reverse repurchase agreements of $402,652,422 are categorized as Level 2 within the fair value hierarchy.

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

---

| | |
|:---|:---|
| **Currency Abbreviation**  | **Currency Abbreviation**  |
| CAD | Canadian Dollar |
| EUR | Euro |
| GBP | British Pound |
| USD | United States Dollar |

---

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

---

| | |
|:---|:---|
| **Portfolio Abbreviation**  | **Portfolio Abbreviation**  |
| BAB | Build America Bond |
| BAM | Build America Mutual Assurance Co. |
| CLO | Collateralized Loan Obligation |
| CME | Chicago Mercantile Exchange  |
| CMT | Constant Maturity Treasury |
| DAC | Designated Activity Company  |
| EURIBOR | Euro Interbank Offered Rate |
| GMTN | Global Medium-Term Note  |
| GO | General Obligation Bonds |

---

---

| | |
|:---|:---|
| **Portfolio Abbreviation (continued)** | **Portfolio Abbreviation (continued)** |
| PIK | Payment-in-Kind |
| RB | Revenue Bonds |
| REIT | Real Estate Investment Trust |
| SAB | Special Assessment Bonds |
| SAP | Subject to Appropriations |
| SG | Syncora Guarantee  |
| SOFR | Secured Overnight Financing Rate |

---

Schedule of Investments

------

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** BlackRock Core Bond Trust

- **b. Investment Company Act file number:** 811-10543

- **c. CIK number of Registrant:** 0001160864

- **d. LEI of Registrant:** CC8M7XFKTNG56DXMAR33

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

  - **Street Address 1:** 100 Bellevue Parkway

  - **City:** Wilmington

  - **State:** DE

  - **Foreign country:** US

  - **Zip / Postal Code:** 19809

  - **Telephone number:** 800-441-7762

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

- **a. Name of Series:** BlackRock Core Bond Trust

- **c. LEI of Series:** CC8M7XFKTNG56DXMAR33

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

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

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

**Item A.4. Final filing**

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

### Fund Information

**Total Assets:** $1139438788.05

**Total Liabilities:** $408387948.14

**Net Assets:** $731050839.91

**Delayed Delivery Securities:** $4404489.46

**Cash Not Reported:** $131428.89

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** 22179.28000000 | **1-Year:** 9641.21000000 | **5-Year:** 86062.08000000 | **10-Year:** 104713.28000000 | **30-Year:** 112386.96000000

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

- **3-Month:** 4698.79000000 | **1-Year:** 6896.51000000 | **5-Year:** 57905.27000000 | **10-Year:** 5713.57000000 | **30-Year:** 2999.51000000

**Monthly Return Information**

| Class        | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID N/A | -0.23%               | 1.18%                | 1.95%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $193957.15               | $-3118059.85                               |
| Month 2  | $390500.68               | $5200458.51                                |
| Month 3  | $-613221.52              | $11427541.42                               |

**Designated Index Information**

- **Index Name:** Fund`s Designated Reference Portfolio is the Fund`s Securities Portfolio

- **Index Identifier:** Fund`s Designated Reference Portfolio is the Fund`s Securities Portfolio

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| JP MORGAN SECURITIES LLC                                              | RRP ITT HOLDING                                                                  | CUSIP: 000000000<br>LEI: ZBUT11V806EZRVTWT807 | Short            | RA               | CORP              | US        |   -149750 | PA      | $-149750.00   | -0.02%            |  |  |  | No            |                  2 | On Loan: No      |
| CHS/COMMUNITY HEALTH SYS                                              | CHS/Community Health Systems Inc                                                 | CUSIP: 12543DBH2<br>LEI: 5493007X5NC5XI1BB106 | Long             | DBT              | CORP              | US        |    335000 | PA      | $325164.40    | 0.04%             | 2029-01-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| JANE STREET GRP/JSG FIN                                               | Jane Street Group / JSG Finance Inc                                              | CUSIP: 47077WAE8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     70000 | PA      | $72704.40     | 0.01%             | 2033-05-01      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| Sabre GLBL Inc                                                        | Sabre GLBL Inc 2022 Term Loan B                                                  | CUSIP: 78571YBH2<br>LEI: F2TJC7HPPHLHU1AQMP98 | Long             | LON              | CORP              | US        |      1815 | PA      | $1686.21      | 0.00%             | 2028-06-30      | Floating      | 8.51%                 | No            |                  2 | On Loan: No      |
| MATADOR RESOURCES CO                                                  | Matador Resources Co                                                             | CUSIP: 576485AG1<br>LEI: 549300CI3Q2UUK5R4G79 | Long             | DBT              | CORP              | US        |    159000 | PA      | $160521.47    | 0.02%             | 2032-04-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| MORGAN STANLEY & CO LLC                                               | RRP VITAL ENERG                                                                  | CUSIP: 000000000<br>LEI: 9R7GPTSO7KV3UQJZQ078 | Short            | RA               | CORP              | US        |   -259569 | PA      | $-259568.75   | -0.04%            |  |  |  | No            |                  2 | On Loan: No      |
| BOFA SECURITIES INC                                                   | RRP ALLIED UNIV                                                                  | CUSIP: 000000000<br>LEI: 549300HN4UKV1E2R3U73 | Short            | RA               | CORP              | US        |   -526990 | PA      | $-526990.00   | -0.07%            |  |  |  | No            |                  2 | On Loan: No      |
| CCO HLDGS LLC/CAP CORP                                                | CCO Holdings LLC / CCO Holdings Capital Corp                                     | CUSIP: 1248EPCL5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     80000 | PA      | $71124.86     | 0.01%             | 2033-06-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                           | Freddie Mac Pool                                                                 | CUSIP: 3133KYXJ3<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    133285 | PA      | $126599.60    | 0.02%             | 2042-09-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| OUTFRONT MEDIA CAP LLC/C                                              | Outfront Media Capital LLC / Outfront Media Capital Corp                         | CUSIP: 69007TAC8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     66000 | PA      | $63432.01     | 0.01%             | 2030-03-15      | Fixed         | 4.63%                 | No            |                  2 | On Loan: No      |
| NISSAN MOTOR ACCEPTANCE                                               | Nissan Motor Acceptance Co LLC                                                   | CUSIP: 65480CAL9<br>LEI: 7D6DIU2QXTUJRFNNJA49 | Long             | DBT              | CORP              | US        |    268000 | PA      | $268091.54    | 0.04%             | 2030-09-30      | Fixed         | 6.13%                 | No            |                  2 | On Loan: No      |
| HERENS HOLDCO SARL                                                    | Herens Holdco Sarl                                                               | CUSIP: 427169AA5<br>LEI: 2221002FZ55AMAUX4G64 | Long             | DBT              | CORP              | LU        |    200000 | PA      | $175217.82    | 0.02%             | 2028-05-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| Liberty Mutual Group Inc                                              | Liberty Mutual Group Inc                                                         | CUSIP: 53079EAZ7<br>LEI: QUR0DG15Z6FFGYCHH861 | Long             | DBT              | CORP              | US        |   2000000 | PA      | $2051491.16   | 0.28%             | 2042-05-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| BALL CORP                                                             | Ball Corp                                                                        | CUSIP: 058498BA3<br>LEI: 0BGI85ALH27ZJP15DY16 | Long             | DBT              | CORP              | US        |    117000 | PA      | $118257.62    | 0.02%             | 2033-09-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| ILIAD SA                                                              | iliad SA                                                                         | CUSIP: 000000000<br>LEI: 969500FZ9BTRZS3JNB97 | Long             | DBT              | CORP              | FR        |    100000 | PA      | $126057.30    | 0.02%             | 2030-02-15      | Fixed         | 5.63%                 | No            |                  2 | On Loan: No      |
| BANK OF AMERICA CORP                                                  | Bank of America Corp                                                             | CUSIP: 06051GML0<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |    500000 | PA      | $516042.65    | 0.07%             | 2031-01-24      | Fixed         | 5.16%                 | No            |                  2 | On Loan: No      |
| HILCORP ENERGY I/HILCORP                                              | Hilcorp Energy I LP / Hilcorp Finance Co                                         | CUSIP: 431318AS3<br>LEI: 549300ITPIHLG0LHEC09 | Long             | DBT              | CORP              | US        |     70000 | PA      | $70172.62     | 0.01%             | 2028-11-01      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| Lehman Brothers Holdings Inc                                          | LEHMAN BRTH HLD                                                                  | CUSIP: 524ESCR36<br>LEI: 549300FDK6ZP3YIHRJ47 | Long             | DBT              | CORP              | US        |    225000 | PA      | $0.02         | 0.00%             | 2017-07-19      | None          | 0.00%                 | No            |                  3 | On Loan: No      |
| STARWOOD PROPERTY TRUST                                               | Starwood Property Trust Inc                                                      | CUSIP: 85571BBB0<br>LEI: BUGSFQZERKRBFWIG5267 | Long             | DBT              |  | US        |     94000 | PA      | $98704.25     | 0.01%             | 2029-04-01      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| ZAYO GROUP HOLDINGS INC                                               | Zayo Group Holdings Inc                                                          | CUSIP: 98919VAD7<br>LEI: 529900Z6OTS7RT0V0I47 | Long             | DBT              | CORP              | US        |    215071 | PA      | $203779.49    | 0.03%             | 2030-09-09      | Fixed         | 13.75%                | No            |                  2 | On Loan: No      |
| PERFORMANCE FOOD GROUP I                                              | Performance Food Group Inc                                                       | CUSIP: 71376LAF7<br>LEI: 549300OMUOGBYK0FFO76 | Long             | DBT              | CORP              | US        |    223000 | PA      | $228421.35    | 0.03%             | 2032-09-15      | Fixed         | 6.13%                 | No            |                  2 | On Loan: No      |
| ANTERO MIDSTREAM PART/FI                                              | Antero Midstream Partners LP / Antero Midstream Finance Corp                     | CUSIP: 03690AAK2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     76000 | PA      | $78274.83     | 0.01%             | 2032-02-01      | Fixed         | 6.63%                 | No            |                  2 | On Loan: No      |
| VIKING OCEAN CRUISES SHI                                              | Viking Ocean Cruises Ship VII Ltd                                                | CUSIP: 92682RAA0<br>LEI: N/A                  | Long             | DBT              | CORP              | BM        |    111000 | PA      | $110904.54    | 0.02%             | 2029-02-15      | Fixed         | 5.63%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                           | Freddie Mac REMICS                                                               | CUSIP: 3137BMWG7<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   2522078 | PA      | $2456076.25   | 0.34%             | 2045-11-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| UNION PACIFIC CORP                                                    | Union Pacific Corp                                                               | CUSIP: 907818FY9<br>LEI: 549300LMMRSZZCZ8CL11 | Long             | DBT              | CORP              | US        |    350000 | PA      | $277390.90    | 0.04%             | 2042-02-14      | Fixed         | 3.38%                 | No            |                  2 | On Loan: No      |
| HANESBRANDS INC                                                       | Hanesbrands Inc                                                                  | CUSIP: 410345AQ5<br>LEI: GX5LWVWZLL5S4W1L2F20 | Long             | DBT              | CORP              | US        |      8000 | PA      | $8467.14      | 0.00%             | 2031-02-15      | Fixed         | 9.00%                 | No            |                  2 | On Loan: No      |
| CIFC Funding Ltd                                                      | CIFC Funding 2019-I Ltd                                                          | CUSIP: 12553DBA4<br>LEI: 254900RRJV30GDUWIX97 | Long             | ABS-CBDO         | CORP              | KY        |    500000 | PA      | $504233.75    | 0.07%             | 2037-10-20      | Floating      | 7.38%                 | No            |                  2 | On Loan: No      |
| STATION CASINOS LLC                                                   | Station Casinos LLC                                                              | CUSIP: 857691AG4<br>LEI: 5493004E7Q60TX54WL62 | Long             | DBT              | CORP              | US        |      7000 | PA      | $6882.15      | 0.00%             | 2028-02-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Amentum Government Services Holdings LLC                              | Amentum Government Services Holdings LLC 2024 Term Loan B                        | CUSIP: 02351XAB4<br>LEI: 2549009FJIBLW40CU216 | Long             | LON              | CORP              | US        |     14104 | PA      | $14086.99     | 0.00%             | 2031-09-29      | Floating      | 6.41%                 | No            |                  2 | On Loan: No      |
| ALLIED UNIVERSAL HOLDCO                                               | Allied Universal Holdco LLC                                                      | CUSIP: 019576AD9<br>LEI: 98450038B4549046D794 | Long             | DBT              | CORP              | US        |   1793000 | PA      | $1879952.83   | 0.26%             | 2031-02-15      | Fixed         | 7.88%                 | No            |                  2 | On Loan: No      |
| NEPTUNE BIDCO US INC                                                  | Neptune Bidco US Inc                                                             | CUSIP: 640695AA0<br>LEI: 549300VG15T3VCYZ4531 | Long             | DBT              | CORP              | US        |    255000 | PA      | $250330.95    | 0.03%             | 2029-04-15      | Fixed         | 9.29%                 | No            |                  2 | On Loan: No      |
| MORGAN STANLEY & CO. INTERNATIONAL                                    | SWAP/CDSWAP/SCDS: (CMACG)                                                        | CUSIP: 000000000<br>LEI: 4PQUHN3JPFGFNF3BB653 | N/A              | DCR              |  | XX        |     20000 | OU      | $1675.91      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| LIGHTNING POWER LLC                                                   | Lightning Power LLC                                                              | CUSIP: 53229KAA7<br>LEI: 254900BWCHJ03XRL8K59 | Long             | DBT              | CORP              | US        |     49000 | PA      | $51877.08     | 0.01%             | 2032-08-15      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| WELLS FARGO SECURITIES LLC                                            | RRP FHLMC 30YR                                                                   | CUSIP: 000000000<br>LEI: VYVVCKR63DVZZN70PB21 | Short            | RA               | CORP              | US        |  -1290399 | PA      | $-1290398.56  | -0.18%            |  |  |  | No            |                  2 | On Loan: No      |
| BRAVO Residential Funding Trust                                       | BRAVO Residential Funding Trust 2021-NQM1                                        | CUSIP: 10569TAA6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    445465 | PA      | $417941.48    | 0.06%             | 2049-02-25      | Variable      | 0.94%                 | No            |                  2 | On Loan: No      |
| HILCORP ENERGY I/HILCORP                                              | Hilcorp Energy I LP / Hilcorp Finance Co                                         | CUSIP: 431318BG8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     78000 | PA      | $76228.36     | 0.01%             | 2035-02-15      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| ALLIED UNIVERSAL HOLDCO LLC                                           | Allied Universal Holdco LLC 2025 USD Term Loan B                                 | CUSIP: 01957TAX5<br>LEI: 98450038B4549046D794 | Long             | LON              | CORP              | US        |    269889 | PA      | $270747.41    | 0.04%             | 2032-08-20      | Floating      | 7.51%                 | No            |                  2 | On Loan: No      |
| BARCLAYS PLC                                                          | Barclays PLC                                                                     | CUSIP: 06738ECN3<br>LEI: 213800LBQA1Y9L22JB70 | Long             | DBT              | CORP              | GB        |    640000 | PA      | $726567.68    | 0.10%             | 2029-12-15      | Fixed         | 9.63%                 | No            |                  2 | On Loan: No      |
| ARDAGH PKG FIN/HLDGS USA                                              | Ardagh Packaging Finance PLC / Ardagh Holdings USA Inc                           | CUSIP: 03969AAN0<br>LEI: N/A                  | Long             | DBT              | CORP              | XX        |    402000 | PA      | $385920.00    | 0.05%             | 2026-08-15      | Fixed         | 4.13%                 | No            |                  3 | On Loan: No      |
| ACURIS FIN US/ACURIS FIN                                              | Acuris Finance US Inc / Acuris Finance SARL                                      | CUSIP: 00511BAA5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    272000 | PA      | $264350.27    | 0.04%             | 2028-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Nelnet Student Loan Trust                                             | Nelnet Student Loan Trust 2021-B                                                 | CUSIP: 64034QAC2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1982529 | PA      | $1771128.36   | 0.24%             | 2062-04-20      | Fixed         | 2.68%                 | No            |                  2 | On Loan: No      |
| BECTON DICKINSON & CO                                                 | Becton Dickinson & Co                                                            | CUSIP: 075887BG3<br>LEI: ICE2EP6D98PQUILVRZ91 | Long             | DBT              | CORP              | US        |    600000 | PA      | $537336.42    | 0.07%             | 2044-12-15      | Fixed         | 4.69%                 | No            |                  2 | On Loan: No      |
| BOFA SECURITIES INC                                                   | RRP CLARIVATE S                                                                  | CUSIP: 000000000<br>LEI: 549300HN4UKV1E2R3U73 | Short            | RA               | CORP              | US        |   -165888 | PA      | $-165887.50   | -0.02%            |  |  |  | No            |                  2 | On Loan: No      |
| Madison Park Funding Ltd                                              | Madison Park Funding XXXVIII Ltd                                                 | CUSIP: 55821KAG1<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    250000 | PA      | $250351.13    | 0.03%             | 2034-07-17      | Floating      | 6.48%                 | No            |                  2 | On Loan: No      |
| OUTFRONT MEDIA CAP LLC/C                                              | Outfront Media Capital LLC / Outfront Media Capital Corp                         | CUSIP: 69007TAE4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    264000 | PA      | $253569.62    | 0.03%             | 2029-01-15      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| JP Morgan Mortgage Trust                                              | JP Morgan Mortgage Trust 2024-INV1                                               | CUSIP: 46658PAB8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1655517 | PA      | $1663342.91   | 0.23%             | 2055-04-25      | Variable      | 5.50%                 | No            |                  2 | On Loan: No      |
| M6 ETX Holdings II Midco LLC                                          | M6 ETX Holdings II Midco LLC Term Loan B                                         | CUSIP: 55285DAB7<br>LEI: N/A                  | Long             | LON              | CORP              | US        |         0 | PA      | $0.00         | 0.00%             | 2029-09-19      | Floating      | 8.92%                 | No            |                  2 | On Loan: No      |
| Citigroup Capital XIII                                                | Citigroup Capital XIII                                                           | CUSIP: 173080201<br>LEI: N/A                  | Long             | EP               | CORP              | US        |     29583 | NS      | $892519.11    | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| CLARIOS GLOBAL LP                                                     | Clarios Global LP 2025 USD Term Loan B                                           | CUSIP: 000000000<br>LEI: 549300474L1ZLXZY2P98 | Long             | LON              | CORP              | US        |    182005 | PA      | $181948.58    | 0.02%             | 2032-01-28      | Floating      | 6.91%                 | No            |                  2 | On Loan: No      |
| ASBURY AUTOMOTIVE GROUP                                               | Asbury Automotive Group Inc                                                      | CUSIP: 043436AU8<br>LEI: 549300JH4DTA7U42GL91 | Long             | DBT              | CORP              | US        |     10000 | PA      | $9877.71      | 0.00%             | 2028-03-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| ADVANCE AUTO PARTS                                                    | Advance Auto Parts Inc                                                           | CUSIP: 00751YAK2<br>LEI: 529900UCNQ5H9FSL0Y70 | Long             | DBT              | CORP              | US        |    101000 | PA      | $103914.13    | 0.01%             | 2030-08-01      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| NASSAU COMPANIES OF NY                                                | Nassau Cos of New York/The                                                       | CUSIP: 63155AAA6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     58000 | PA      | $59236.27     | 0.01%             | 2030-07-15      | Fixed         | 7.88%                 | No            |                  2 | On Loan: No      |
| ALLIANT HOLD / CO-ISSUER                                              | Alliant Holdings Intermediate LLC / Alliant Holdings Co-Issuer                   | CUSIP: 01883LAD5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1093000 | PA      | $1087300.22   | 0.15%             | 2029-11-01      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| ARDONAGH FINCO LTD                                                    | Ardonagh Finco Ltd                                                               | CUSIP: 000000000<br>LEI: 254900D2T84O1K03BA28 | Long             | DBT              | CORP              | JE        |    200000 | PA      | $242704.46    | 0.03%             | 2031-02-15      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| JPMORGAN CHASE & CO                                                   | JPMorgan Chase & Co                                                              | CUSIP: 46647PEY8<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | DBT              | CORP              | US        |   3000000 | PA      | $3099359.82   | 0.42%             | 2031-04-22      | Fixed         | 5.10%                 | No            |                  2 | On Loan: No      |
| Clear Channel Outdoor Holdings Inc                                    | Clear Channel Outdoor Holdings Inc 2024 Term Loan                                | CUSIP: 18452RAF2<br>LEI: 254900XBEE6V1ENYS150 | Long             | LON              | CORP              | US        |    293371 | PA      | $293590.79    | 0.04%             | 2028-08-23      | Floating      | 8.28%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                            | Fannie Mae Pool                                                                  | CUSIP: 3140QQH99<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   1533417 | PA      | $1557886.06   | 0.21%             | 2037-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FRONTIER COMMUNICATIONS CORP                                          | Frontier Communications Corp 2025 Term Loan B                                    | CUSIP: 35906EAU4<br>LEI: N/A                  | Long             | LON              | CORP              | US        |     40795 | PA      | $40727.13     | 0.01%             | 2031-07-01      | Floating      | 6.65%                 | No            |                  2 | On Loan: No      |
| New Residential Mortgage Loan Trust                                   | New Residential Mortgage Loan Trust 2022-NQM5                                    | CUSIP: 64831VAA0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1267988 | PA      | $1263629.50   | 0.17%             | 2052-11-25      | Variable      | 6.30%                 | No            |                  2 | On Loan: No      |
| MAGYAR EXPORT-IMPORT BAN                                              | Magyar Export-Import Bank Zrt                                                    | CUSIP: 000000000<br>LEI: 529900O4UGETQ9Q3AA63 | Long             | DBT              | NUSS              | HU        |    100000 | PA      | $126870.85    | 0.02%             | 2029-05-16      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| ZF EUROPE FINANCE BV                                                  | ZF Europe Finance BV                                                             | CUSIP: 000000000<br>LEI: 549300RI533US2G6G542 | Long             | DBT              | CORP              | NL        |    100000 | PA      | $121869.61    | 0.02%             | 2030-06-12      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| Golden State Tobacco Securitization Corp                              | GOLDEN ST TOBACCO SECURITIZATION CORP CA TOBACCO SETTLEMENT                      | CUSIP: 38122NB68<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2610000 | PA      | $2042376.97   | 0.28%             | 2042-06-01      | Fixed         | 3.29%                 | No            |                  2 | On Loan: No      |
| BOOTS GROUP FINCO LP                                                  | Boots Group Finco LP                                                             | CUSIP: 000000000<br>LEI: 254900YVLYOVF1PF1N93 | Long             | DBT              | CORP              | US        |    100000 | PA      | $137007.98    | 0.02%             | 2032-08-31      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                            | Fannie Mae Pool                                                                  | CUSIP: 3140QPNB9<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    154926 | PA      | $155468.40    | 0.02%             | 2037-06-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| DISH NETWORK CORP                                                     | DISH Network Corp                                                                | CUSIP: 25470MAG4<br>LEI: 529900U350CWHH15G169 | Long             | DBT              | CORP              | US        |    910000 | PA      | $963013.87    | 0.13%             | 2027-11-15      | Fixed         | 11.75%                | No            |                  2 | On Loan: No      |
| DELUXE CORP                                                           | Deluxe Corp                                                                      | CUSIP: 248019AW1<br>LEI: KWGNKB8TX9LE5TV29231 | Long             | DBT              | CORP              | US        |     70000 | PA      | $73095.12     | 0.01%             | 2029-09-15      | Fixed         | 8.13%                 | No            |                  2 | On Loan: No      |
| FIESTA PURCHASER INC                                                  | Fiesta Purchaser Inc                                                             | CUSIP: 31659AAA4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     15000 | PA      | $15830.00     | 0.00%             | 2031-03-01      | Fixed         | 7.88%                 | No            |                  2 | On Loan: No      |
| E.ON INTL FINANCE BV                                                  | E.ON International Finance BV                                                    | CUSIP: 268789AB0<br>LEI: 549300TG53AWJ719M814 | Long             | DBT              | CORP              | NL        |   2000000 | PA      | $2218363.16   | 0.30%             | 2038-04-30      | Fixed         | 6.65%                 | No            |                  2 | On Loan: No      |
| KEHE DIST/FIN / NEXTWAVE                                              | KeHE Distributors LLC / KeHE Finance Corp / NextWave Distribution Inc            | CUSIP: 487526AC9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     86000 | PA      | $90485.16     | 0.01%             | 2029-02-15      | Fixed         | 9.00%                 | No            |                  2 | On Loan: No      |
| TRANSDIGM INC                                                         | TransDigm Inc                                                                    | CUSIP: 893647CA3<br>LEI: 88Q84GB3X55CF5OC7582 | Long             | DBT              | CORP              | US        |    810000 | PA      | $837506.81    | 0.11%             | 2034-01-31      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| MELCO RESORTS FINANCE                                                 | Melco Resorts Finance Ltd                                                        | CUSIP: 58547DAH2<br>LEI: 5493000FQDBWKDBZEF60 | Long             | DBT              | CORP              | KY        |    400000 | PA      | $419000.00    | 0.06%             | 2032-04-17      | Fixed         | 7.63%                 | No            |                  2 | On Loan: No      |
| STANDARD INDUSTRI INC/NY                                              | Standard Industries Inc/NY                                                       | CUSIP: 853496AG2<br>LEI: 54930064UHXCIUWVI755 | Long             | DBT              | CORP              | US        |    170000 | PA      | $162992.53    | 0.02%             | 2030-07-15      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| ANYWHERE REAL EST/CO-ISS                                              | Anywhere Real Estate Group LLC / Anywhere Co-Issuer Corp                         | CUSIP: 75606DAT8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    157600 | PA      | $159491.58    | 0.02%             | 2030-04-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| BLACKSTONE PRIVATE CRE                                                | Blackstone Private Credit Fund                                                   | CUSIP: 09261HBW6<br>LEI: 549300ORP3TTCNXSYO43 | Long             | DBT              | CORP              | US        |    405000 | PA      | $414739.03    | 0.06%             | 2034-11-22      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| HOME DEPOT INC                                                        | Home Depot Inc/The                                                               | CUSIP: 437076AS1<br>LEI: QEKMOTMBBKA8I816DO57 | Long             | DBT              | CORP              | US        |   1660000 | PA      | $1807675.36   | 0.25%             | 2036-12-16      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| QUALCOMM INC                                                          | QUALCOMM Inc                                                                     | CUSIP: 747525BQ5<br>LEI: H1J8DDZKZP6H7RWC0H53 | Long             | DBT              | CORP              | US        |    445000 | PA      | $445135.91    | 0.06%             | 2032-05-20      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| WILDFIRE INTERMEDIATE HO                                              | Wildfire Intermediate Holdings LLC                                               | CUSIP: 96812HAA6<br>LEI: 5493003RHEMQJZEXIR02 | Long             | DBT              | CORP              | US        |    133000 | PA      | $134379.88    | 0.02%             | 2029-10-15      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| VIAVI SOLUTIONS INC                                                   | Viavi Solutions Inc                                                              | CUSIP: 925550AF2<br>LEI: 5493006K3E3N1QOBF092 | Long             | DBT              | CORP              | US        |     26000 | PA      | $24513.57     | 0.00%             | 2029-10-01      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| Onslow Bay Financial LLC                                              | OBX 2023-NQM1 Trust                                                              | CUSIP: 670855AA3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    523684 | PA      | $523050.42    | 0.07%             | 2062-11-25      | Variable      | 6.12%                 | No            |                  2 | On Loan: No      |
| CLEAR CHANNEL OUTDOOR HO                                              | Clear Channel Outdoor Holdings Inc                                               | CUSIP: 18453HAG1<br>LEI: 254900XBEE6V1ENYS150 | Long             | DBT              | CORP              | US        |    521000 | PA      | $538532.69    | 0.07%             | 2031-02-15      | Fixed         | 7.13%                 | No            |                  2 | On Loan: No      |
| CLEVELAND ELECTRIC ILLUM                                              | Cleveland Electric Illuminating Co/The                                           | CUSIP: 186108CE4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    434000 | PA      | $461659.35    | 0.06%             | 2036-12-15      | Fixed         | 5.95%                 | No            |                  2 | On Loan: No      |
| Texas Natural Gas Securitization Finance Corp                         | TEXAS NATURAL GAS SECURITIZTN FIN CORP REVENUE                                   | CUSIP: 88258MAB1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1532050.52   | 0.21%             | 2041-04-01      | Fixed         | 5.17%                 | No            |                  2 | On Loan: No      |
| VENTURE GLOBAL LNG INC                                                | Venture Global LNG Inc                                                           | CUSIP: 92332YAD3<br>LEI: 54930011XLBUWMQUC829 | Long             | DBT              | CORP              | US        |    803000 | PA      | $874244.73    | 0.12%             | 2032-02-01      | Fixed         | 9.88%                 | No            |                  2 | On Loan: No      |
| JP MORGAN SECURITIES LLC                                              | RRP CITIGROUP I                                                                  | CUSIP: 000000000<br>LEI: ZBUT11V806EZRVTWT807 | Short            | RA               | CORP              | US        |  -1661020 | PA      | $-1661020.00  | -0.23%            |  |  |  | No            |                  2 | On Loan: No      |
| BLUE RACER MID LLC/FINAN                                              | Blue Racer Midstream LLC / Blue Racer Finance Corp                               | CUSIP: 095796AK4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     97000 | PA      | $102011.41    | 0.01%             | 2032-07-15      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| ATOS SE                                                               | Atos SE                                                                          | CUSIP: 000000000<br>LEI: 5493001EZOOA66PTBR68 | Long             | SN               | CORP              | FR        |     23000 | PA      | $25465.78     | 0.00%             | 2030-12-18      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| GS Mortgage Securities Trust                                          | GS Mortgage Securities Corp Trust 2025-800D                                      | CUSIP: 36273XAJ0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    400000 | PA      | $399958.68    | 0.05%             | 2041-11-25      | Floating      | 7.59%                 | No            |                  2 | On Loan: No      |
| RAISING CANE'S RESTAURAN                                              | Raising Cane's Restaurants LLC                                                   | CUSIP: 75103AAA3<br>LEI: 254900V6ADXFWHYOED66 | Long             | DBT              | CORP              | US        |     90000 | PA      | $94476.96     | 0.01%             | 2029-05-01      | Fixed         | 9.38%                 | No            |                  2 | On Loan: No      |
| BNP PARIBAS SA                                                        | RRP TREASURY BO                                                                  | CUSIP: 000000000<br>LEI: R0MUWSFPU8MPRO8K5P83 | Short            | RA               | CORP              | US        | -41351875 | PA      | $-41351875.00 | -5.66%            |  |  |  | No            |                  2 | On Loan: No      |
| BARCLAYS CAPITAL INC                                                  | RRP MARATHON PE                                                                  | CUSIP: 000000000<br>LEI: AC28XWWI3WIBK2824319 | Short            | RA               | CORP              | US        |  -1142812 | PA      | $-1142812.50  | -0.16%            |  |  |  | No            |                  2 | On Loan: No      |
| BOOTS GROUP BIDCO LTD                                                 | BOOTS GROUP BIDCO LTD USD TERM LOAN                                              | CUSIP: 09947PAB7<br>LEI: 254900YVLYOVF1PF1N93 | Long             | LON              | CORP              | US        |    477000 | PA      | $477992.16    | 0.07%             | 2032-08-30      | Floating      | 7.70%                 | No            |                  2 | On Loan: No      |
| AMWINS GROUP INC                                                      | AmWINS Group Inc                                                                 | CUSIP: 031921AC3<br>LEI: 549300SJE7MUB8NMRG61 | Long             | DBT              | CORP              | US        |     85000 | PA      | $86728.22     | 0.01%             | 2029-02-15      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| PBF HOLDING CO LLC                                                    | PBF Holding Co LLC / PBF Finance Corp                                            | CUSIP: 69318FAL2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    112000 | PA      | $110579.72    | 0.02%             | 2030-09-15      | Fixed         | 7.88%                 | No            |                  2 | On Loan: No      |
| MOLINA HEALTHCARE INC                                                 | Molina Healthcare Inc                                                            | CUSIP: 60855RAM2<br>LEI: 549300NQQCEQ46YHZ591 | Long             | DBT              | CORP              | US        |     32000 | PA      | $32355.49     | 0.00%             | 2033-01-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| VIKING CRUISES LTD                                                    | Viking Cruises Ltd                                                               | CUSIP: 92676XAF4<br>LEI: 549300IJP90T4MV2GL84 | Long             | DBT              | CORP              | BM        |     34000 | PA      | $34171.80     | 0.00%             | 2029-02-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| COMMSCOPE LLC                                                         | CommScope LLC                                                                    | CUSIP: 203372AX5<br>LEI: 549300Z6K4JXMFE8QY54 | Long             | DBT              | CORP              | US        |    510000 | PA      | $506725.80    | 0.07%             | 2029-09-01      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| Lendmark Funding Trust                                                | Lendmark Funding Trust 2025-2                                                    | CUSIP: 52603GAC0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1000000 | PA      | $1009252.90   | 0.14%             | 2034-10-20      | Fixed         | 5.28%                 | No            |                  2 | On Loan: No      |
| WOM NEW HOLDCO COMMON                                                 | WOM NEW HOLDCO COMMON                                                            | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | US        |       465 | NS      | $10695.00     | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| SMB Private Education Loan Trust                                      | SMB Private Education Loan Trust 2023-C                                          | CUSIP: 83207DAA6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1124983 | PA      | $1155598.38   | 0.16%             | 2052-11-15      | Fixed         | 5.67%                 | No            |                  2 | On Loan: No      |
| IHS HOLDING LTD                                                       | IHS Holding Ltd                                                                  | CUSIP: 44963HAB1<br>LEI: 213800CLGMKL63VKTD94 | Long             | DBT              | CORP              | KY        |    200000 | PA      | $200375.00    | 0.03%             | 2028-11-29      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| LGI HOMES INC                                                         | LGI Homes Inc                                                                    | CUSIP: 50187TAH9<br>LEI: 549300W02B4WNV8CV109 | Long             | DBT              | CORP              | US        |     56000 | PA      | $58789.92     | 0.01%             | 2028-12-15      | Fixed         | 8.75%                 | No            |                  2 | On Loan: No      |
| 1011778 BC / NEW RED FIN                                              | 1011778 BC ULC / New Red Finance Inc                                             | CUSIP: 68245XAT6<br>LEI: N/A                  | Long             | DBT              | CORP              | CA        |     33000 | PA      | $33396.83     | 0.00%             | 2029-09-15      | Fixed         | 5.63%                 | No            |                  2 | On Loan: No      |
| SG Capital Partners                                                   | SG Residential Mortgage Trust 2022-2                                             | CUSIP: 78434KAA5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    564772 | PA      | $564844.22    | 0.08%             | 2062-08-25      | Variable      | 5.35%                 | No            |                  2 | On Loan: No      |
| BOFA SECURITIES INC                                                   | RRP GOLDMAN SAC                                                                  | CUSIP: 000000000<br>LEI: 549300HN4UKV1E2R3U73 | Short            | RA               | CORP              | US        |  -3870000 | PA      | $-3870000.00  | -0.53%            |  |  |  | No            |                  2 | On Loan: No      |
| Fannie Mae                                                            | Fannie Mae REMICS                                                                | CUSIP: 3136APDF6<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   1636000 | PA      | $1496856.24   | 0.20%             | 2045-07-25      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| CHS/COMMUNITY HEALTH SYS                                              | CHS/Community Health Systems Inc                                                 | CUSIP: 12543DBK5<br>LEI: 5493007X5NC5XI1BB106 | Long             | DBT              | CORP              | US        |    285000 | PA      | $246453.24    | 0.03%             | 2031-02-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                            | Fannie Mae Pool                                                                  | CUSIP: 31410F2Q7<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    358141 | PA      | $363053.62    | 0.05%             | 2034-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| United States Treasury                                                | U.S. Treasury Notes                                                              | CUSIP: 91282CCP4<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  27500000 | PA      | $26795742.05  | 3.67%             | 2026-07-31      | Fixed         | 0.63%                 | No            |                  2 | On Loan: No      |
| WYNN RESORTS FINANCE LLC                                              | Wynn Resorts Finance LLC / Wynn Resorts Capital Corp                             | CUSIP: 983133AD1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    242000 | PA      | $245746.16    | 0.03%             | 2033-03-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| Citibank NA                                                           | PURCHASED USD / SOLD EUR                                                         | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DFE              |  | US        |         1 | NC      | $-1818.07     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| HAH GROUP HOLDING CO LLC                                              | HAH Group Holding Co LLC                                                         | CUSIP: 40518JAA7<br>LEI: 254900FFJQHW9R90FL74 | Long             | DBT              | CORP              | US        |     84000 | PA      | $79806.59     | 0.01%             | 2031-10-01      | Fixed         | 9.75%                 | No            |                  2 | On Loan: No      |
| US FOODS INC                                                          | US Foods Inc                                                                     | CUSIP: 90290MAH4<br>LEI: 5493000JOOFAOUY1JZ87 | Long             | DBT              | CORP              | US        |    164000 | PA      | $171698.49    | 0.02%             | 2032-01-15      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| NEXTERA ENERGY CAPITAL                                                | NextEra Energy Capital Holdings Inc                                              | CUSIP: 65339KBK5<br>LEI: UMI46YPGBLUE4VGNNT48 | Long             | DBT              | CORP              | US        |   4750000 | PA      | $4775062.52   | 0.65%             | 2079-05-01      | Fixed         | 5.65%                 | No            |                  2 | On Loan: No      |
| BOFA SECURITIES INC                                                   | RRP ERP OPERATI                                                                  | CUSIP: 000000000<br>LEI: 549300HN4UKV1E2R3U73 | Short            | RA               | CORP              | US        |   -984638 | PA      | $-984637.50   | -0.13%            |  |  |  | No            |                  2 | On Loan: No      |
| CITY FOOTBALL GROUP LIMITED                                           | City Football Group Limited 2024 Term Loan                                       | CUSIP: 17781XAD8<br>LEI: 213800K6VVWALRH9UJ69 | Long             | LON              | CORP              | GB        |     98453 | PA      | $98371.74     | 0.01%             | 2030-07-22      | Floating      | 7.78%                 | No            |                  2 | On Loan: No      |
| Prudential Financial Inc                                              | Prudential Financial Inc                                                         | CUSIP: 74432QAK1<br>LEI: 5PRBRS5FEH7NREC8OR45 | Long             | DBT              | CORP              | US        |    500000 | PA      | $534227.12    | 0.07%             | 2036-03-17      | Fixed         | 5.90%                 | No            |                  2 | On Loan: No      |
| TALLGRASS NRG PRTNR/FIN                                               | Tallgrass Energy Partners LP / Tallgrass Energy Finance Corp                     | CUSIP: 87470LAJ0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |      2000 | PA      | $1975.06      | 0.00%             | 2030-12-31      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| AMER AIRLN 15-2 A PASS T                                              | American Airlines 2015-2 Class A Pass Through Trust                              | CUSIP: 02377BAA4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    824876 | PA      | $803936.24    | 0.11%             | 2027-09-22      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| TENNECO INC                                                           | Tenneco Inc                                                                      | CUSIP: 880349AU9<br>LEI: 549300U0EXXFAQFAD785 | Long             | DBT              | CORP              | US        |    183000 | PA      | $183334.10    | 0.03%             | 2028-11-17      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| LAMB WESTON HLD                                                       | Lamb Weston Holdings Inc                                                         | CUSIP: 513272AD6<br>LEI: 5493005SMYID1D2OY946 | Long             | DBT              | CORP              | US        |     90000 | PA      | $86420.11     | 0.01%             | 2030-01-31      | Fixed         | 4.13%                 | No            |                  2 | On Loan: No      |
| ING GROEP NV                                                          | ING Groep NV                                                                     | CUSIP: 456837AZ6<br>LEI: 549300NYKK9MWM7GGW15 | Long             | DBT              | CORP              | NL        |   1500000 | PA      | $1337264.01   | 0.18%             | 2031-05-16      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| KINETIK HOLDINGS LP                                                   | Kinetik Holdings LP                                                              | CUSIP: 49461MAA8<br>LEI: 549300RD6AJIMYC0HY12 | Long             | DBT              | CORP              | US        |     11000 | PA      | $11063.98     | 0.00%             | 2030-06-15      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| MATADOR RESOURCES CO                                                  | Matador Resources Co                                                             | CUSIP: 576485AF3<br>LEI: 549300CI3Q2UUK5R4G79 | Long             | DBT              | CORP              | US        |    139000 | PA      | $141854.92    | 0.02%             | 2028-04-15      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| COMSTOCK RESOURCES INC                                                | Comstock Resources Inc                                                           | CUSIP: 205768AU8<br>LEI: I03QQGEA4SS774AURI46 | Long             | DBT              | CORP              | US        |     72000 | PA      | $71568.00     | 0.01%             | 2029-03-01      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| STAR HOLDING LLC                                                      | Star Holding LLC 2024 1st Lien Term Loan B                                       | CUSIP: 85512FAC2<br>LEI: 254900BDGPE9N1WAKD59 | Long             | LON              | CORP              | US        |     40933 | PA      | $40555.45     | 0.01%             | 2031-07-31      | Floating      | 8.66%                 | No            |                  2 | On Loan: No      |
| RTX CORP                                                              | RTX Corp                                                                         | CUSIP: 913017BT5<br>LEI: I07WOS4YJ0N7YRFE7309 | Long             | DBT              | CORP              | US        |    300000 | PA      | $271286.91    | 0.04%             | 2042-06-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| BAT Capital Corp                                                      | BAT Capital Corp                                                                 | CUSIP: 05526DBF1<br>LEI: 2138005GYEXN7XRHFA84 | Long             | DBT              | CORP              | US        |   1500000 | PA      | $1257809.12   | 0.17%             | 2047-08-15      | Fixed         | 4.54%                 | No            |                  2 | On Loan: No      |
| MORGAN STANLEY & CO LLC                                               | RRP JELD WEN HO                                                                  | CUSIP: 000000000<br>LEI: 9R7GPTSO7KV3UQJZQ078 | Short            | RA               | CORP              | US        |    -71049 | PA      | $-71048.75    | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| MATIV HOLDINGS INC                                                    | Mativ Holdings Inc                                                               | CUSIP: 808541AC0<br>LEI: 549300Z1FU4IDULG1R21 | Long             | DBT              | CORP              | US        |     80000 | PA      | $79204.74     | 0.01%             | 2029-10-01      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| WELLS FARGO SECURITIES LLC                                            | RRP FHLMC 30YR                                                                   | CUSIP: 000000000<br>LEI: VYVVCKR63DVZZN70PB21 | Short            | RA               | CORP              | US        |   -463700 | PA      | $-463700.23   | -0.06%            |  |  |  | No            |                  2 | On Loan: No      |
| CALPINE CORP                                                          | Calpine Corp                                                                     | CUSIP: 131347CQ7<br>LEI: 43R4VPJBXTU2O15HEF41 | Long             | DBT              | CORP              | US        |     30000 | PA      | $29912.32     | 0.00%             | 2031-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| TIDEWATER INC                                                         | Tidewater Inc                                                                    | CUSIP: 88642RAE9<br>LEI: 2549000JA5GRUPLMUH98 | Long             | DBT              | CORP              | US        |    109000 | PA      | $116897.02    | 0.02%             | 2030-07-15      | Fixed         | 9.13%                 | No            |                  2 | On Loan: No      |
| GS Mortgage-Backed Securities Trust                                   | GS Mortgage-Backed Securities Trust 2021-PJ6                                     | CUSIP: 36262LAB6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    808199 | PA      | $669605.56    | 0.09%             | 2051-11-25      | Variable      | 2.50%                 | No            |                  2 | On Loan: No      |
| CLARIOS GLOBAL LP/US FIN                                              | Clarios Global LP / Clarios US Finance Co                                        | CUSIP: 18060TAC9<br>LEI: N/A                  | Long             | DBT              | CORP              | XX        |    525000 | PA      | $536595.50    | 0.07%             | 2028-05-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| CIFC Funding Ltd                                                      | CIFC Funding 2018-I Ltd                                                          | CUSIP: 17181NAC8<br>LEI: 635400VBVF8AYJQBI411 | Long             | ABS-CBDO         | CORP              | KY        |   1036000 | PA      | $1039108.00   | 0.14%             | 2038-01-18      | Floating      | 5.65%                 | No            |                  2 | On Loan: No      |
| Credit Suisse Mortgage Trust                                          | CSMC 2020-FACT                                                                   | CUSIP: 126395AL6<br>LEI: 549300818AKCJ4Q9TD76 | Long             | ABS-MBS          | CORP              | US        |    900000 | PA      | $846000.00    | 0.12%             | 2037-10-15      | Floating      | 8.48%                 | No            |                  2 | On Loan: No      |
| BARCLAYS CAPITAL INC                                                  | RRP PNC FINANCI                                                                  | CUSIP: 000000000<br>LEI: AC28XWWI3WIBK2824319 | Short            | RA               | CORP              | US        |   -119858 | PA      | $-119857.50   | -0.02%            |  |  |  | No            |                  2 | On Loan: No      |
| VEGAS Trust                                                           | VEGAS 2024-GCS                                                                   | CUSIP: 92254BAC9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    650000 | PA      | $643001.06    | 0.09%             | 2036-07-10      | Variable      | 6.42%                 | No            |                  2 | On Loan: No      |
| Truist Insurance Holdings LLC                                         | Truist Insurance Holdings LLC 2nd Lien Term Loan                                 | CUSIP: 89788VAE2<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    409941 | PA      | $416987.94    | 0.06%             | 2032-05-06      | Floating      | 8.75%                 | No            |                  2 | On Loan: No      |
| WEATHERFORD INTERNATIONA                                              | Weatherford International Ltd                                                    | CUSIP: 947075AW7<br>LEI: 549300A2JKMG5PGOGF82 | Long             | DBT              | CORP              | BM        |    300000 | PA      | $300208.68    | 0.04%             | 2033-10-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| MORGAN STANLEY & CO LLC                                               | RRP CELANESE US                                                                  | CUSIP: 000000000<br>LEI: 9R7GPTSO7KV3UQJZQ078 | Short            | RA               | CORP              | US        |    -72675 | PA      | $-72675.00    | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| VISTRA CORP                                                           | Vistra Corp                                                                      | CUSIP: 92840MAC6<br>LEI: 549300KP43CPCUJOOG15 | Long             | DBT              | CORP              | US        |    141000 | PA      | $143153.07    | 0.02%             | 2026-12-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| CCO HLDGS LLC/CAP CORP                                                | CCO Holdings LLC / CCO Holdings Capital Corp                                     | CUSIP: 1248EPCP6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    736000 | PA      | $636318.33    | 0.09%             | 2034-01-15      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| POST HOLDINGS INC                                                     | Post Holdings Inc                                                                | CUSIP: 737446AR5<br>LEI: JM1I5YUAURL6DC8N1468 | Long             | DBT              | CORP              | US        |      9000 | PA      | $8408.24      | 0.00%             | 2031-09-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                            | Fannie Mae Pool                                                                  | CUSIP: 3140MTFY4<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    130922 | PA      | $131125.47    | 0.02%             | 2037-07-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| SHIFT4 PAYMENTS LLC/FIN                                               | Shift4 Payments LLC / Shift4 Payments Finance Sub Inc                            | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    145000 | PA      | $177260.22    | 0.02%             | 2033-05-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| L3HARRIS TECH INC                                                     | L3Harris Technologies Inc                                                        | CUSIP: 502431AN9<br>LEI: 549300UTE50ZMDBG8A20 | Long             | DBT              | CORP              | US        |    300000 | PA      | $264098.14    | 0.04%             | 2031-01-15      | Fixed         | 1.80%                 | No            |                  2 | On Loan: No      |
| COUGAR JV SUBSIDIARY LLC                                              | Cougar JV Subsidiary LLC                                                         | CUSIP: 22208WAA1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    108000 | PA      | $114825.38    | 0.02%             | 2032-05-15      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| CHORD ENERGY CORP                                                     | Chord Energy Corp                                                                | CUSIP: 674215AN8<br>LEI: 529900FA4V2YNIKZ0M71 | Long             | DBT              | CORP              | US        |     58000 | PA      | $58764.94     | 0.01%             | 2033-03-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| SHERWIN-WILLIAMS CO                                                   | Sherwin-Williams Co/The                                                          | CUSIP: 824348BK1<br>LEI: Z15BMIOX8DDH0X2OBP21 | Long             | DBT              | CORP              | US        |    350000 | PA      | $267908.35    | 0.04%             | 2049-08-15      | Fixed         | 3.80%                 | No            |                  2 | On Loan: No      |
| PHILIP MORRIS INTL INC                                                | Philip Morris International Inc                                                  | CUSIP: 718172DB2<br>LEI: HL3H1H2BGXWVG3BSWR90 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $1044315.28   | 0.14%             | 2033-02-15      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| Regatta XVIII Funding Ltd                                             | Regatta XVIII Funding Ltd                                                        | CUSIP: 75884EAS1<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    850000 | PA      | $851827.67    | 0.12%             | 2038-04-15      | Floating      | 5.87%                 | No            |                  2 | On Loan: No      |
| Bristol-Myers Squibb Co                                               | Bristol-Myers Squibb Co                                                          | CUSIP: 110122AX6<br>LEI: HLYYNH7UQUORYSJQCN42 | Long             | DBT              | CORP              | US        |    350000 | PA      | $311553.19    | 0.04%             | 2044-03-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| LINDBLAD EXPEDITIONS LLC                                              | Lindblad Expeditions LLC                                                         | CUSIP: 53523LAB6<br>LEI: 549300MPUWOG67Y2R254 | Long             | DBT              | CORP              | US        |    192000 | PA      | $195703.68    | 0.03%             | 2030-09-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| RADIATE HOLDCO LLC                                                    | Radiate Holdco LLC 2025 FLFO Term Loan                                           | CUSIP: 75025KAM0<br>LEI: 5493000GQJ5RDX9DNJ71 | Long             | LON              | CORP              | US        |    342734 | PA      | $276006.92    | 0.04%             | 2029-09-25      | Floating      | 7.78%                 | No            |                  2 | On Loan: No      |
| ORACLE CORP                                                           | Oracle Corp                                                                      | CUSIP: 68389XCA1<br>LEI: 1Z4GXXU7ZHVWFCD8TV52 | Long             | DBT              | CORP              | US        |    600000 | PA      | $446104.97    | 0.06%             | 2051-03-25      | Fixed         | 3.95%                 | No            |                  2 | On Loan: No      |
| BURLINGTN NORTH SANTA FE                                              | Burlington Northern Santa Fe LLC                                                 | CUSIP: 12189LAC5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1890000 | PA      | $1859316.04   | 0.25%             | 2041-03-01      | Fixed         | 5.05%                 | No            |                  2 | On Loan: No      |
| Colombia Government International Bonds                               | Colombia Government International Bonds                                          | CUSIP: 195325EF8<br>LEI: 549300MHDRBVRF6B9117 | Long             | DBT              | NUSS              | CO        |    200000 | PA      | $218000.00    | 0.03%             | 2033-04-20      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| 522 Funding CLO Ltd                                                   | 522 Funding CLO 2017-1 A Ltd                                                     | CUSIP: 33836JAG4<br>LEI: 635400A6LSLGJQHVOZ36 | Long             | ABS-CBDO         | CORP              | KY        |    500000 | PA      | $500742.05    | 0.07%             | 2034-10-20      | Floating      | 6.74%                 | No            |                  2 | On Loan: No      |
| Galaxy US Opco Inc                                                    | Galaxy US Opco Inc Term Loan                                                     | CUSIP: 36321DAB3<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    138259 | PA      | $125211.13    | 0.02%             | 2030-07-31      | Floating      | 6.31%                 | No            |                  2 | On Loan: No      |
| ICAHN ENTERPRISES/FIN                                                 | Icahn Enterprises LP / Icahn Enterprises Finance Corp                            | CUSIP: 451102CF2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    110000 | PA      | $111017.50    | 0.02%             | 2029-01-15      | Fixed         | 9.75%                 | No            |                  2 | On Loan: No      |
| NOVELIS SHEET INGOT GMBH                                              | Novelis Sheet Ingot GmbH                                                         | CUSIP: 000000000<br>LEI: 9845005E95899E77AY49 | Long             | DBT              | CORP              | DE        |    100000 | PA      | $114304.20    | 0.02%             | 2029-04-15      | Fixed         | 3.38%                 | No            |                  2 | On Loan: No      |
| IVORY COAST                                                           | Ivory Coast Government International Bond                                        | CUSIP: 000000000<br>LEI: 254900ICW11T82O6H590 | Long             | DBT              | NUSS              | CI        |    192000 | PA      | $224149.75    | 0.03%             | 2031-10-17      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| TRUST FIBRAUNO                                                        | Trust Fibra Uno                                                                  | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              |  | MX        |    200000 | PA      | $216800.00    | 0.03%             | 2032-01-23      | Fixed         | 7.70%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                            | Fannie Mae REMICS                                                                | CUSIP: 3136BMXA1<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |  14500000 | PA      | $13396090.35  | 1.83%             | 2052-05-25      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| VOYAGER PARENT LLC                                                    | Voyager Parent LLC                                                               | CUSIP: 92921EAA0<br>LEI: 2549002DYVI4ACSV4V71 | Long             | DBT              | CORP              | US        |    229000 | PA      | $242165.24    | 0.03%             | 2032-07-01      | Fixed         | 9.25%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                            | Fannie Mae Pool                                                                  | CUSIP: 3140QQ6M2<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   1141010 | PA      | $1174399.46   | 0.16%             | 2037-12-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| APOLLO DEBT SOLUTIONS BD                                              | Apollo Debt Solutions BDC                                                        | CUSIP: 03770DAG8<br>LEI: 549300UMUGX092P8DW87 | Long             | DBT              | CORP              | US        |     96000 | PA      | $97684.54     | 0.01%             | 2030-08-30      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| COLT Funding LLC                                                      | COLT 2022-5 Mortgage Loan Trust                                                  | CUSIP: 19688LAA0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1268682 | PA      | $1264127.01   | 0.17%             | 2067-04-25      | Variable      | 4.55%                 | No            |                  2 | On Loan: No      |
| ZI TECH LLC/ZI FIN CORP                                               | ZoomInfo Technologies LLC/ZoomInfo Finance Corp                                  | CUSIP: 98981BAA0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    147000 | PA      | $139329.22    | 0.02%             | 2029-02-01      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| BNP PARIBAS SA                                                        | RRP TREASURY BO                                                                  | CUSIP: 000000000<br>LEI: R0MUWSFPU8MPRO8K5P83 | Short            | RA               | CORP              | US        |  -1434500 | PA      | $-1434500.00  | -0.20%            |  |  |  | No            |                  2 | On Loan: No      |
| HUNGARY                                                               | Hungary Government International Bond                                            | CUSIP: 000000000<br>LEI: 5299003F3UFKGCCMAP43 | Long             | DBT              | NUSS              | HU        |    121000 | PA      | $153983.71    | 0.02%             | 2033-09-12      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| WELLS FARGO & COMPANY                                                 | Wells Fargo & Co                                                                 | CUSIP: 95000U3D3<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | DBT              | CORP              | US        |   1124000 | PA      | $1167904.22   | 0.16%             | 2034-04-24      | Fixed         | 5.39%                 | No            |                  2 | On Loan: No      |
| BOFA SECURITIES INC                                                   | RRP BARCLAYS PL                                                                  | CUSIP: 000000000<br>LEI: 549300HN4UKV1E2R3U73 | Short            | RA               | CORP              | US        |  -2804910 | PA      | $-2804910.00  | -0.38%            |  |  |  | No            |                  2 | On Loan: No      |
| Comcast Corp                                                          | Comcast Corp                                                                     | CUSIP: 20030NCM1<br>LEI: 51M0QTTNCGUN7KFCFZ59 | Long             | DBT              | CORP              | US        |   3000000 | PA      | $2617166.43   | 0.36%             | 2048-10-15      | Fixed         | 4.70%                 | No            |                  2 | On Loan: No      |
| EDISON INTERNATIONAL                                                  | Edison International                                                             | CUSIP: 281020AS6<br>LEI: 549300I7ROF15MAEVP56 | Long             | DBT              | CORP              | US        |   3000000 | PA      | $2912609.76   | 0.40%             | 2026-03-09      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| POST HOLDINGS INC                                                     | Post Holdings Inc                                                                | CUSIP: 737446AU8<br>LEI: JM1I5YUAURL6DC8N1468 | Long             | DBT              | CORP              | US        |     64000 | PA      | $65797.01     | 0.01%             | 2032-02-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| Onslow Bay Financial LLC                                              | OBX 2022-INV3 Trust                                                              | CUSIP: 67116EAA7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    600366 | PA      | $518379.08    | 0.07%             | 2052-02-25      | Variable      | 3.00%                 | No            |                  2 | On Loan: No      |
| LEVI STRAUSS & CO                                                     | Levi Strauss & Co                                                                | CUSIP: 000000000<br>LEI: MB0UERO0RDFKU8258G77 | Long             | DBT              | CORP              | US        |    100000 | PA      | $119133.83    | 0.02%             | 2030-08-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| NATIONSTAR MTG HLD INC                                                | Nationstar Mortgage Holdings Inc                                                 | CUSIP: 63861CAF6<br>LEI: 549300DQF6YN0E43PM71 | Long             | DBT              | CORP              | US        |    472000 | PA      | $492675.02    | 0.07%             | 2032-02-01      | Fixed         | 7.13%                 | No            |                  2 | On Loan: No      |
| TWILIO INC                                                            | Twilio Inc                                                                       | CUSIP: 90138FAC6<br>LEI: 5493004W8TRGD63APX93 | Long             | DBT              | CORP              | US        |     73000 | PA      | $69562.73     | 0.01%             | 2029-03-15      | Fixed         | 3.63%                 | No            |                  2 | On Loan: No      |
| AVANTOR FUNDING INC                                                   | Avantor Funding Inc                                                              | CUSIP: 05352TAA7<br>LEI: 5493003VM0XB4U8YD238 | Long             | DBT              | CORP              | US        |    115000 | PA      | $113120.61    | 0.02%             | 2028-07-15      | Fixed         | 4.63%                 | No            |                  2 | On Loan: No      |
| BUCKEYE PARTNERS LP                                                   | Buckeye Partners LP                                                              | CUSIP: 118230AV3<br>LEI: 549300C1PQJLVEIUBK50 | Long             | DBT              | CORP              | US        |     11000 | PA      | $11400.09     | 0.00%             | 2029-07-01      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| FREEDOM MORTGAGE HOLD                                                 | Freedom Mortgage Holdings LLC                                                    | CUSIP: 35641AAB4<br>LEI: 254900ROJ91RGM43S156 | Long             | DBT              | CORP              | US        |    162000 | PA      | $172295.42    | 0.02%             | 2031-05-15      | Fixed         | 9.13%                 | No            |                  2 | On Loan: No      |
| OFFICE CHERIFIEN DES PHO                                              | OCP SA                                                                           | CUSIP: 67091TAG0<br>LEI: 213800D26TAPVTCVWG40 | Long             | DBT              | CORP              | MA        |    200000 | PA      | $221938.00    | 0.03%             | 2054-05-02      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| KYRGYZ REP INTL BOND                                                  | Kyrgyz Republic International Bond                                               | CUSIP: 50158LAA6<br>LEI: N/A                  | Long             | DBT              | NUSS              | KG        |    200000 | PA      | $201250.00    | 0.03%             | 2030-06-03      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| SMB Private Education Loan Trust                                      | SMB Private Education Loan Trust 2021-A                                          | CUSIP: 78448YAD3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    131147 | PA      | $128321.00    | 0.02%             | 2053-01-15      | Fixed         | 2.31%                 | No            |                  2 | On Loan: No      |
| BNP PARIBAS SA                                                        | RRP UNIVISION C                                                                  | CUSIP: 000000000<br>LEI: R0MUWSFPU8MPRO8K5P83 | Short            | RA               | CORP              | US        |   -101400 | PA      | $-101400.00   | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| Verus Securitization Trust                                            | Verus Securitization Trust 2024-8                                                | CUSIP: 92540PAA6<br>LEI: 213800RZ8QGNZ38DSP77 | Long             | ABS-MBS          | CORP              | US        |   1527990 | PA      | $1536126.07   | 0.21%             | 2069-10-25      | Variable      | 5.36%                 | No            |                  2 | On Loan: No      |
| AXALTA COATING SYSTEMS                                                | Axalta Coating Systems LLC                                                       | CUSIP: 05453GAC9<br>LEI: 549300G80QONCHILSF69 | Long             | DBT              | CORP              | US        |    198000 | PA      | $187586.05    | 0.03%             | 2029-02-15      | Fixed         | 3.38%                 | No            |                  2 | On Loan: No      |
| CUSHMAN & WAKEFIELD US                                                | Cushman & Wakefield US Borrower LLC                                              | CUSIP: 23166MAC7<br>LEI: 549300870CMN3WI5IF97 | Long             | DBT              | CORP              | US        |    213000 | PA      | $227339.59    | 0.03%             | 2031-09-01      | Fixed         | 8.88%                 | No            |                  2 | On Loan: No      |
| STARWOOD PROPERTY TRUST                                               | Starwood Property Trust Inc                                                      | CUSIP: 85571BBE4<br>LEI: BUGSFQZERKRBFWIG5267 | Long             | DBT              |  | US        |    198000 | PA      | $204527.47    | 0.03%             | 2030-10-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| LOWE'S COS INC                                                        | Lowe's Cos Inc                                                                   | CUSIP: 548661DN4<br>LEI: WAFCR4OKGSC504WU3E95 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $768279.28    | 0.11%             | 2046-04-15      | Fixed         | 3.70%                 | No            |                  2 | On Loan: No      |
| Morgan Stanley BAML Trust                                             | Morgan Stanley Bank of America Merrill Lynch Trust 2015-C22                      | CUSIP: 61690FAM5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    176080 | PA      | $173000.44    | 0.02%             | 2048-04-15      | Fixed         | 3.31%                 | No            |                  2 | On Loan: No      |
| ARSENAL AIC PARENT LLC                                                | Arsenal AIC Parent LLC                                                           | CUSIP: 04288BAC4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    649000 | PA      | $720796.92    | 0.10%             | 2031-10-01      | Fixed         | 11.50%                | No            |                  2 | On Loan: No      |
| VIVION INVESTMENTS                                                    | Vivion Investments Sarl                                                          | CUSIP: 000000000<br>LEI: 529900SJ7X71ESJK9N76 | Long             | DBT              | CORP              | LU        |    101505 | PA      | $118886.03    | 0.02%             | 2028-08-31      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| BANK OF AMERICA CORP                                                  | Bank of America Corp                                                             | CUSIP: 06055HAH6<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |   7650000 | PA      | $7959740.85   | 1.09%             | 2030-05-01      | Fixed         | 6.63%                 | No            |                  2 | On Loan: No      |
| HSBC HOLDINGS PLC                                                     | HSBC Holdings PLC                                                                | CUSIP: 404280CQ0<br>LEI: MLU0ZO3ML4LN2LL2TL39 | Long             | DBT              | CORP              | GB        |    275000 | PA      | $259433.32    | 0.04%             | 2031-03-09      | Fixed         | 4.70%                 | No            |                  2 | On Loan: No      |
| JPMORGAN CHASE & CO                                                   | JPMorgan Chase & Co                                                              | CUSIP: 46647PEC6<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | DBT              | CORP              | US        |    540000 | PA      | $561262.85    | 0.08%             | 2035-01-23      | Fixed         | 5.34%                 | No            |                  2 | On Loan: No      |
| CINEMARK USA INC                                                      | Cinemark USA Inc                                                                 | CUSIP: 172441BH9<br>LEI: 54930008H2137JSCPQ09 | Long             | DBT              | CORP              | US        |     41000 | PA      | $42613.47     | 0.01%             | 2032-08-01      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| KeySpan Gas East Corp                                                 | KeySpan Gas East Corp                                                            | CUSIP: 49338CAA1<br>LEI: K8TS3HOE1568DUBUJL44 | Long             | DBT              | CORP              | US        |   1010000 | PA      | $1004664.42   | 0.14%             | 2041-04-01      | Fixed         | 5.82%                 | No            |                  2 | On Loan: No      |
| OLYMPUS WTR US HLDG CORP                                              | Olympus Water US Holding Corp                                                    | CUSIP: 681639AB6<br>LEI: 549300YU2GGVCBN3MY89 | Long             | DBT              | CORP              | US        |    200000 | PA      | $194199.18    | 0.03%             | 2029-10-01      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| Trestles CLO LTD                                                      | TRESTLES CLO 2017-1 Ltd                                                          | CUSIP: 89531FBE6<br>LEI: 254900QSBDX181YYBH38 | Long             | ABS-CBDO         | CORP              | KY        |   1750000 | PA      | $1758686.65   | 0.24%             | 2037-07-25      | Floating      | 6.42%                 | No            |                  2 | On Loan: No      |
| ACRISURE LLC / FIN INC                                                | Acrisure LLC / Acrisure Finance Inc                                              | CUSIP: 004961AA6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    108000 | PA      | $111205.87    | 0.02%             | 2032-07-01      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| GRAY MEDIA INC                                                        | Gray Media Inc                                                                   | CUSIP: 389375AM8<br>LEI: 529900TM5726KDN7UU35 | Long             | DBT              | CORP              | US        |    160000 | PA      | $173000.18    | 0.02%             | 2029-07-15      | Fixed         | 10.50%                | No            |                  2 | On Loan: No      |
| AXON ENTERPRISE INC                                                   | Axon Enterprise Inc                                                              | CUSIP: 05464CAD3<br>LEI: 549300QP2IEEGFE16681 | Long             | DBT              | CORP              | US        |     52000 | PA      | $53523.39     | 0.01%             | 2033-03-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| IMPULSORA PIPELINE                                                    | Impulsora Pipeline                                                               | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1488655 | PA      | $1286608.32   | 0.18%             | 2043-01-01      | Fixed         | 6.05%                 | No            |                  2 | On Loan: No      |
| CIFC Funding Ltd                                                      | CIFC Funding 2020-I Ltd                                                          | CUSIP: 12555QAW6<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    500000 | PA      | $501389.75    | 0.07%             | 2036-07-15      | Floating      | 7.68%                 | No            |                  2 | On Loan: No      |
| Oriental Republic of Uruguay                                          | Oriental Republic of Uruguay                                                     | CUSIP: 760942BG6<br>LEI: 549300RDR012H2V82H43 | Long             | DBT              | NUSS              | UY        |    127129 | PA      | $119466.30    | 0.02%             | 2060-09-10      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| BRAVO Residential Funding Trust                                       | BRAVO Residential Funding Trust 2023-NQM3                                        | CUSIP: 10568EAA0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    361609 | PA      | $359305.21    | 0.05%             | 2062-09-25      | Variable      | 4.85%                 | No            |                  2 | On Loan: No      |
| CAESARS ENTERTAIN INC                                                 | Caesars Entertainment Inc                                                        | CUSIP: 12769GAC4<br>LEI: 549300FA4CTCW903Y781 | Long             | DBT              | CORP              | US        |    166000 | PA      | $169318.01    | 0.02%             | 2032-02-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| ATLAS CC ACQUISITION CORP                                             | Atlas CC Acquisition Corp 2025 Second Out Term Loan C                            | CUSIP: 04921TAS3<br>LEI: 6HHLXIOGCDNZ4IRAIW26 | Long             | LON              | CORP              | US        |     10143 | PA      | $5778.51      | 0.00%             | 2029-05-25      | Floating      | 8.57%                 | No            |                  2 | On Loan: No      |
| GOAT HOLDCO LLC                                                       | Goat Holdco LLC                                                                  | CUSIP: 38021MAA4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    109000 | PA      | $111724.97    | 0.02%             | 2032-02-01      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| GENESEE & WYOMING INC                                                 | Genesee & Wyoming Inc                                                            | CUSIP: 371559AB1<br>LEI: G617XSG94Z7G0RMW3L02 | Long             | DBT              | CORP              | US        |    140000 | PA      | $142259.88    | 0.02%             | 2032-04-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| WELLS FARGO SECURITIES LLC                                            | RRP FNMA 15YR U                                                                  | CUSIP: 000000000<br>LEI: VYVVCKR63DVZZN70PB21 | Short            | RA               | CORP              | US        |  -1508435 | PA      | $-1508435.01  | -0.21%            |  |  |  | No            |                  2 | On Loan: No      |
| Republic of Poland Government International Bonds                     | Republic of Poland Government International Bonds                                | CUSIP: 731011AV4<br>LEI: 259400R9L8QEP0TPXS31 | Long             | DBT              | NUSS              | PL        |     37000 | PA      | $37392.39     | 0.01%             | 2033-10-04      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| Deutsche Bank AG                                                      | PURCHASED USD / SOLD EUR                                                         | CUSIP: 000000000<br>LEI: 7LTWFZYICNSX8D621K86 | N/A              | DFE              |  | US        |         1 | NC      | $70.91        | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| HOWARD MIDSTREAM ENERGY                                               | Howard Midstream Energy Partners LLC                                             | CUSIP: 442722AC8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     27000 | PA      | $28026.68     | 0.00%             | 2032-07-15      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| CART                                                                  | CONE Trust 2024-DFW1                                                             | CUSIP: 20682AAL4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    660000 | PA      | $659415.57    | 0.09%             | 2041-08-15      | Floating      | 7.19%                 | No            |                  2 | On Loan: No      |
| ROCKETMTGE CO-ISSUER INC                                              | Rocket Mortgage LLC / Rocket Mortgage Co-Issuer Inc                              | CUSIP: 77313LAB9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     19000 | PA      | $17352.39     | 0.00%             | 2033-10-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| KAIXO BONDCO TELECOM SA                                               | Kaixo Bondco Telecom SA                                                          | CUSIP: 000000000<br>LEI: 959800ULWB3MZHZ69055 | Long             | DBT              | CORP              | ES        |    100000 | PA      | $118835.79    | 0.02%             | 2029-09-30      | Fixed         | 5.13%                 | No            |                  2 | On Loan: No      |
| BX Trust                                                              | BX Trust 2024-CNYN                                                               | CUSIP: 05612HAE1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    615138 | PA      | $615906.76    | 0.08%             | 2041-04-15      | Floating      | 6.09%                 | No            |                  2 | On Loan: No      |
| MICROSOFT CORP                                                        | Microsoft Corp                                                                   | CUSIP: 594918CC6<br>LEI: INR2EJN1ERAN0W5ZP974 | Long             | DBT              | CORP              | US        |   1600000 | PA      | $1012915.22   | 0.14%             | 2050-06-01      | Fixed         | 2.53%                 | No            |                  2 | On Loan: No      |
| ROCKET COS INC                                                        | Rocket Cos Inc                                                                   | CUSIP: 77311WAA9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    765000 | PA      | $785134.80    | 0.11%             | 2030-08-01      | Fixed         | 6.13%                 | No            |                  2 | On Loan: No      |
| TALLGRASS NRG PRTNR/FIN                                               | Tallgrass Energy Partners LP / Tallgrass Energy Finance Corp                     | CUSIP: 87470LAL5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    302000 | PA      | $311012.59    | 0.04%             | 2029-02-15      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| AAL Delaware Holdco Inc                                               | AAL Delaware Holdco Inc 2025 Term Loan                                           | CUSIP: 00036YAD5<br>LEI: N/A                  | Long             | LON              | CORP              | US        |     26932 | PA      | $26952.36     | 0.00%             | 2031-07-30      | Floating      | 6.91%                 | No            |                  2 | On Loan: No      |
| MOHEGAN TRIBAL / MS DIG                                               | Mohegan Tribal Gaming Authority / MS Digital Entertainment Holdings LLC          | CUSIP: 60832QAA8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    133000 | PA      | $138192.32    | 0.02%             | 2030-04-15      | Fixed         | 8.25%                 | No            |                  2 | On Loan: No      |
| MH Sub I LLC                                                          | MH Sub I LLC 2023 Term Loan                                                      | CUSIP: 45567YAN5<br>LEI: 2549005VFKP807SR8N49 | Long             | LON              | CORP              | US        |    176275 | PA      | $169298.48    | 0.02%             | 2028-05-03      | Floating      | 8.25%                 | No            |                  2 | On Loan: No      |
| FANTASIA HOLDINGS GROUP                                               | Fantasia Holdings Group Co Ltd                                                   | CUSIP: 000000000<br>LEI: 5493005JQNLB3I01JW62 | Long             | DBT              | CORP              | KY        |    300000 | PA      | $4500.00      | 0.00%             | 2023-07-28      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| DAVITA INC                                                            | DaVita Inc                                                                       | CUSIP: 23918KAW8<br>LEI: M2XHYMU3TZNEZURC6H66 | Long             | DBT              | CORP              | US        |     94000 | PA      | $97105.38     | 0.01%             | 2032-09-01      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| QUALCOMM INC                                                          | QUALCOMM Inc                                                                     | CUSIP: 747525BS1<br>LEI: H1J8DDZKZP6H7RWC0H53 | Long             | DBT              | CORP              | US        |    250000 | PA      | $265639.61    | 0.04%             | 2033-05-20      | Fixed         | 5.40%                 | No            |                  2 | On Loan: No      |
| ONEDIGITAL BORROWER LLC                                               | OneDigital Borrower LLC 2025 Repriced Term Loan                                  | CUSIP: 68277FAN9<br>LEI: 2549009GTKWWAO1E9X77 | Long             | LON              | CORP              | US        |     22000 | PA      | $21972.94     | 0.00%             | 2031-07-02      | Floating      | 7.16%                 | No            |                  2 | On Loan: No      |
| DOLCETTO HOLDCO SPA                                                   | Dolcetto Holdco SpA                                                              | CUSIP: 000000000<br>LEI: 81560029E819F2CE4A42 | Long             | DBT              | CORP              | IT        |    100000 | PA      | $120369.38    | 0.02%             | 2032-07-14      | Fixed         | 5.63%                 | No            |                  2 | On Loan: No      |
| Prudential Financial Inc                                              | Prudential Financial Inc                                                         | CUSIP: 74432QBD6<br>LEI: 5PRBRS5FEH7NREC8OR45 | Long             | DBT              | CORP              | US        |   1625000 | PA      | $1848967.30   | 0.25%             | 2037-12-01      | Fixed         | 6.63%                 | No            |                  2 | On Loan: No      |
| WELLS FARGO SECURITIES LLC                                            | RRP FNMA 30YR U                                                                  | CUSIP: 000000000<br>LEI: VYVVCKR63DVZZN70PB21 | Short            | RA               | CORP              | US        |   -875921 | PA      | $-875921.29   | -0.12%            |  |  |  | No            |                  2 | On Loan: No      |
| MORGAN STANLEY & CO LLC                                               | RRP CLEAR CHANN                                                                  | CUSIP: 000000000<br>LEI: 9R7GPTSO7KV3UQJZQ078 | Short            | RA               | CORP              | US        |   -428085 | PA      | $-428085.00   | -0.06%            |  |  |  | No            |                  2 | On Loan: No      |
| WALKER & DUNLOP INC                                                   | Walker & Dunlop Inc                                                              | CUSIP: 93148PAA0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     76000 | PA      | $77721.15     | 0.01%             | 2033-04-01      | Fixed         | 6.63%                 | No            |                  2 | On Loan: No      |
| ENERGY TRANSFER LP                                                    | Energy Transfer LP                                                               | CUSIP: 29273VAX8<br>LEI: MTLVN9N7JE8MIBIJ1H73 | Long             | DBT              | CORP              | US        |    342000 | PA      | $365468.72    | 0.05%             | 2054-05-15      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| COLT Funding LLC                                                      | COLT 2020-2 Mortgage Loan Trust                                                  | CUSIP: 19688JAD9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   3050000 | PA      | $3050689.91   | 0.42%             | 2065-03-25      | Variable      | 5.25%                 | No            |                  2 | On Loan: No      |
| Sabre GLBL Inc                                                        | Sabre GLBL Inc 2021 Term Loan B1                                                 | CUSIP: 78571YBG4<br>LEI: F2TJC7HPPHLHU1AQMP98 | Long             | LON              | CORP              | US        |     18949 | PA      | $17906.84     | 0.00%             | 2027-12-17      | Floating      | 7.78%                 | No            |                  2 | On Loan: No      |
| WESCO DISTRIBUTION INC                                                | WESCO Distribution Inc                                                           | CUSIP: 95081QAS3<br>LEI: 549300I2CEZJG9N4AH67 | Long             | DBT              | CORP              | US        |     50000 | PA      | $51831.41     | 0.01%             | 2033-03-15      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| AMSTED INDUSTRIES                                                     | Amsted Industries Inc                                                            | CUSIP: 032177AK3<br>LEI: N2VLGYMEEBIU3PFSUY86 | Long             | DBT              | CORP              | US        |     66000 | PA      | $67741.08     | 0.01%             | 2033-03-15      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| CQP HOLDCO LP/BIP-V CHIN                                              | CQP Holdco LP / BIP-V Chinook Holdco LLC                                         | CUSIP: 12657NAA8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    500000 | PA      | $495352.15    | 0.07%             | 2031-06-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| CORVIAS CAMPUS USG L CORP BOND 5.3 7/1/50                             | CORVIAS CAMPUS USG L CORP BOND 5.3 7/1/50                                        | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   5475516 | PA      | $1916430.52   | 0.26%             | 2050-07-01      | Fixed         | 5.30%                 | No            |                  3 | On Loan: No      |
| Angel Oak Mortgage Trust                                              | Angel Oak Mortgage Trust 2024-10                                                 | CUSIP: 034933AA9<br>LEI: 254900QN92XYN8GJBJ44 | Long             | ABS-MBS          | CORP              | US        |   1543918 | PA      | $1551315.25   | 0.21%             | 2069-10-25      | Variable      | 5.35%                 | No            |                  2 | On Loan: No      |
| MFRA Trust                                                            | MFA 2023-NQM1 Trust                                                              | CUSIP: 55285PAA2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    671614 | PA      | $670520.52    | 0.09%             | 2067-11-25      | Variable      | 5.75%                 | No            |                  2 | On Loan: No      |
| VITAL ENERGY INC                                                      | Vital Energy Inc                                                                 | CUSIP: 516806AJ5<br>LEI: 549300X0PTWU2QSLSL14 | Long             | DBT              | CORP              | US        |    165000 | PA      | $172269.57    | 0.02%             | 2030-10-15      | Fixed         | 9.75%                 | No            |                  2 | On Loan: No      |
| BROADCOM INC                                                          | Broadcom Inc                                                                     | CUSIP: 11135FBJ9<br>LEI: 549300WV6GIDOZJTV909 | Long             | DBT              | CORP              | US        |    700000 | PA      | $576048.91    | 0.08%             | 2041-02-15      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Homeward Opportunities Fund I Trust                                   | Homeward Opportunities Fund Trust 2022-1                                         | CUSIP: 43789KAA0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    977907 | PA      | $976339.16    | 0.13%             | 2067-07-25      | Variable      | 5.08%                 | No            |                  2 | On Loan: No      |
| CITIGROUP GLOBAL MARKETS INC                                          | RRP TREASURY BO                                                                  | CUSIP: 000000000<br>LEI: MBNUM2BPBDO7JBLYG310 | Short            | RA               | CORP              | US        | -28424000 | PA      | $-28424000.00 | -3.89%            |  |  |  | No            |                  2 | On Loan: No      |
| ASCEND LEARNING LLC                                                   | Ascend Learning LLC 2025 Repriced Term Loan B                                    | CUSIP: 04349HAN4<br>LEI: 549300T466HKRLVCD610 | Long             | LON              | CORP              | US        |     20907 | PA      | $20876.07     | 0.00%             | 2028-12-11      | Floating      | 7.16%                 | No            |                  2 | On Loan: No      |
| BERKSHIRE HATHAWAY FIN                                                | Berkshire Hathaway Finance Corp                                                  | CUSIP: 084664BU4<br>LEI: 549300RLHFT5RU20WM87 | Long             | DBT              | CORP              | US        |    500000 | PA      | $467172.92    | 0.06%             | 2042-05-15      | Fixed         | 4.40%                 | No            |                  2 | On Loan: No      |
| PANTHER ESCROW ISSUER                                                 | Panther Escrow Issuer LLC                                                        | CUSIP: 69867RAA5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1564000 | PA      | $1626744.55   | 0.22%             | 2031-06-01      | Fixed         | 7.13%                 | No            |                  2 | On Loan: No      |
| Romark CLO Ltd                                                        | Romark CLO Ltd                                                                   | CUSIP: 77587UAE2<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    500000 | PA      | $501077.75    | 0.07%             | 2030-10-23      | Floating      | 6.73%                 | No            |                  2 | On Loan: No      |
| ALIXPARTNERS LLP                                                      | AlixPartners LLP 2025 USD Term Loan                                              | CUSIP: 01642PBE5<br>LEI: 5493005G2MHUFTGARL57 | Long             | LON              | CORP              | US        |     70001 | PA      | $69495.32     | 0.01%             | 2032-08-12      | Floating      | 6.16%                 | No            |                  2 | On Loan: No      |
| ONCOR ELECTRIC DELIVERY                                               | Oncor Electric Delivery Co LLC                                                   | CUSIP: 68233JCF9<br>LEI: 549300SP2X2BS1KERD24 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $977920.24    | 0.13%             | 2032-06-01      | Fixed         | 4.15%                 | No            |                  2 | On Loan: No      |
| UNITED NATURAL FOODS INC                                              | United Natural Foods Inc                                                         | CUSIP: 911163AA1<br>LEI: 549300GKGW6WPZ282D40 | Long             | DBT              | CORP              | US        |    135000 | PA      | $134989.29    | 0.02%             | 2028-10-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| LION/POLARIS LUX 4 SA                                                 | Lion/Polaris Lux 4 SA                                                            | CUSIP: 000000000<br>LEI: 984500BFD3F99A7UB874 | Long             | DBT              | CORP              | LU        |    100000 | PA      | $118711.81    | 0.02%             | 2029-07-01      | Floating      | 5.56%                 | No            |                  2 | On Loan: No      |
| WESCO DISTRIBUTION INC                                                | WESCO Distribution Inc                                                           | CUSIP: 95081QAR5<br>LEI: 549300I2CEZJG9N4AH67 | Long             | DBT              | CORP              | US        |     89000 | PA      | $92490.61     | 0.01%             | 2032-03-15      | Fixed         | 6.63%                 | No            |                  2 | On Loan: No      |
| CNX RESOURCES CORP                                                    | CNX Resources Corp                                                               | CUSIP: 12653CAL2<br>LEI: 549300JK3KH8PWM3B226 | Long             | DBT              | CORP              | US        |     60000 | PA      | $62245.61     | 0.01%             | 2032-03-01      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| SMB Private Education Loan Trust                                      | SMB Private Education Loan Trust 2021-D                                          | CUSIP: 78449MAA4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    716959 | PA      | $675373.63    | 0.09%             | 2053-03-17      | Fixed         | 1.34%                 | No            |                  2 | On Loan: No      |
| State of Hawaii                                                       | HAWAII ST                                                                        | CUSIP: 419792K96<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1085311.43   | 0.15%             | 2038-10-01      | Fixed         | 6.15%                 | No            |                  2 | On Loan: No      |
| Cedar Funding Ltd                                                     | Cedar Funding XV CLO Ltd                                                         | CUSIP: 15032QAC6<br>LEI: 5493002XZZZCKFWQIL45 | Long             | ABS-CBDO         | CORP              | KY        |    400000 | PA      | $401087.96    | 0.05%             | 2035-04-20      | Floating      | 6.13%                 | No            |                  2 | On Loan: No      |
| ABANCA CORP BANCARIA SA                                               | Abanca Corp Bancaria SA                                                          | CUSIP: 000000000<br>LEI: 54930056IRBXK0Q1FP96 | Long             | DBT              | CORP              | ES        |    100000 | PA      | $120900.33    | 0.02%             | 2036-12-11      | Fixed         | 4.63%                 | No            |                  2 | On Loan: No      |
| HCA INC                                                               | HCA Inc                                                                          | CUSIP: 404119CY3<br>LEI: L3CJ6J7LJ2DX62FTXD46 | Long             | DBT              | CORP              | US        |   3000000 | PA      | $3055208.04   | 0.42%             | 2028-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NORTHERN OIL & GAS INC                                                | Northern Oil & Gas Inc                                                           | CUSIP: 665531AG4<br>LEI: OKFF0PIZDDMNH4UCYE51 | Long             | DBT              | CORP              | US        |    478000 | PA      | $484748.88    | 0.07%             | 2028-03-01      | Fixed         | 8.13%                 | No            |                  2 | On Loan: No      |
| CABLE ONE INC                                                         | Cable One Inc                                                                    | CUSIP: 12685JAE5<br>LEI: 549300648QS85T0XSH18 | Long             | DBT              | CORP              | US        |     62000 | PA      | $60388.29     | 0.01%             | 2026-03-15      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Starwood Residential Mortgage Trust                                   | STAR 2021-1 Trust                                                                | CUSIP: 85573GAD4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   2050000 | PA      | $1829218.90   | 0.25%             | 2065-05-25      | Variable      | 2.36%                 | No            |                  2 | On Loan: No      |
| ECOPETROL SA                                                          | Ecopetrol SA                                                                     | CUSIP: 279158AS8<br>LEI: 254900IDGKCJICKBPA66 | Long             | DBT              | CORP              | CO        |    175000 | PA      | $189848.75    | 0.03%             | 2033-01-13      | Fixed         | 8.88%                 | No            |                  2 | On Loan: No      |
| Canyon Capital CLO Ltd                                                | Canyon Capital CLO 2021-2 Ltd                                                    | CUSIP: 13876XAN1<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    500000 | PA      | $501437.25    | 0.07%             | 2034-04-15      | Floating      | 7.93%                 | No            |                  2 | On Loan: No      |
| WELLS FARGO SECURITIES LLC                                            | RRP FNMA 15YR U                                                                  | CUSIP: 000000000<br>LEI: VYVVCKR63DVZZN70PB21 | Short            | RA               | CORP              | US        |  -1167016 | PA      | $-1167016.34  | -0.16%            |  |  |  | No            |                  2 | On Loan: No      |
| UZBEKISTAN INTL BOND                                                  | Republic of Uzbekistan International Bond                                        | CUSIP: 000000000<br>LEI: 213800L6VDKUM3TCM927 | Long             | DBT              | NUSS              | UZ        |    100000 | PA      | $120843.27    | 0.02%             | 2027-05-29      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| FIBERCOP SPA                                                          | Fibercop SpA                                                                     | CUSIP: 683879AD2<br>LEI: 8156007022402E114A31 | Long             | DBT              | CORP              | IT        |    200000 | PA      | $190632.34    | 0.03%             | 2034-09-30      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| BROADCOM INC                                                          | Broadcom Inc                                                                     | CUSIP: 11135FBA8<br>LEI: 549300WV6GIDOZJTV909 | Long             | DBT              | CORP              | US        |   2500000 | PA      | $2550791.15   | 0.35%             | 2029-04-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| Duke Energy Florida LLC                                               | Duke Energy Florida LLC                                                          | CUSIP: 341099CN7<br>LEI: 7MOHLM3DKE63RX2ZCN83 | Long             | DBT              | CORP              | US        |    770000 | PA      | $803398.63    | 0.11%             | 2040-04-01      | Fixed         | 5.65%                 | No            |                  2 | On Loan: No      |
| ICAHN ENTERPRISES/FIN                                                 | Icahn Enterprises LP / Icahn Enterprises Finance Corp                            | CUSIP: 451102CC9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     94000 | PA      | $81141.69     | 0.01%             | 2029-02-01      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| BOFA SECURITIES INC                                                   | RRP CCO HOLDING                                                                  | CUSIP: 000000000<br>LEI: 549300HN4UKV1E2R3U73 | Short            | RA               | CORP              | US        |   -483920 | PA      | $-483920.00   | -0.07%            |  |  |  | No            |                  2 | On Loan: No      |
| SEAGATE DATA STORAGE TECHNOLOG                                        | SEAGATE DATA STOR                                                                | CUSIP: 81180LAM7<br>LEI: N/A                  | Long             | DBT              | CORP              | SG        |    174000 | PA      | $184196.75    | 0.03%             | 2029-12-15      | Fixed         | 8.25%                 | No            |                  2 | On Loan: No      |
| OUTFRONT MEDIA CAP LLC/C                                              | Outfront Media Capital LLC / Outfront Media Capital Corp                         | CUSIP: 69007TAB0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     46000 | PA      | $45768.83     | 0.01%             | 2027-08-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Trestles CLO LTD                                                      | TRESTLES CLO 2017-1 Ltd                                                          | CUSIP: 89531FBG1<br>LEI: 254900QSBDX181YYBH38 | Long             | ABS-CBDO         | CORP              | KY        |    250000 | PA      | $252248.98    | 0.03%             | 2037-07-25      | Floating      | 7.47%                 | No            |                  2 | On Loan: No      |
| FAIR ISAAC CORP                                                       | Fair Isaac Corp                                                                  | CUSIP: 303250AG9<br>LEI: RI6HET5SJUEY30V1PS26 | Long             | DBT              | CORP              | US        |    801000 | PA      | $810966.98    | 0.11%             | 2033-05-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Radian Mortgage Capital Trust                                         | Radian Mortgage Capital Trust 2024-J2                                            | CUSIP: 75023WAF1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    634569 | PA      | $635065.24    | 0.09%             | 2055-03-25      | Variable      | 5.50%                 | No            |                  2 | On Loan: No      |
| AMERICAN ELECTRIC POWER                                               | American Electric Power Co Inc                                                   | CUSIP: 025537AX9<br>LEI: 1B4S6S7G0TW5EE83BO58 | Long             | DBT              | CORP              | US        |   3000000 | PA      | $3153583.14   | 0.43%             | 2033-03-01      | Fixed         | 5.63%                 | No            |                  2 | On Loan: No      |
| VIKING CRUISES LTD                                                    | Viking Cruises Ltd                                                               | CUSIP: 92676XAG2<br>LEI: 549300IJP90T4MV2GL84 | Long             | DBT              | CORP              | BM        |    195000 | PA      | $209297.40    | 0.03%             | 2031-07-15      | Fixed         | 9.13%                 | No            |                  2 | On Loan: No      |
| LEVEL 3 FINANCING INC                                                 | Level 3 Financing Inc                                                            | CUSIP: 527298CM3<br>LEI: 254900AE5FEFIJOXWL19 | Long             | DBT              | CORP              | US        |   1027833 | PA      | $1047546.84   | 0.14%             | 2033-06-30      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| MARSH & MCLENNAN COS INC                                              | Marsh & McLennan Cos Inc                                                         | CUSIP: 571748AK8<br>LEI: 549300XMP3KDCKJXIU47 | Long             | DBT              | CORP              | US        |   1500000 | PA      | $1622003.45   | 0.22%             | 2033-08-01      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| ACP TARA HOLDINGS INC                                                 | ACP TARA HOLDINGS INC 2025 TERM LOAN B                                           | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |     53000 | PA      | $53000.00     | 0.01%             | 2032-09-17      | Floating      | 7.38%                 | No            |                  3 | On Loan: No      |
| ALLIED UNIVERSAL                                                      | Allied Universal Holdco LLC / Allied Universal Finance Corp                      | CUSIP: 019576AC1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    898000 | PA      | $882782.40    | 0.12%             | 2029-06-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| NABORS INDUSTRIES INC                                                 | Nabors Industries Inc                                                            | CUSIP: 62957HAJ4<br>LEI: 549300VFQWRKICUFNU92 | Long             | DBT              | CORP              | US        |     81000 | PA      | $82223.75     | 0.01%             | 2027-05-15      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| WELLS FARGO SECURITIES LLC                                            | RRP FNMA 30YR                                                                    | CUSIP: 000000000<br>LEI: VYVVCKR63DVZZN70PB21 | Short            | RA               | CORP              | US        |   -346607 | PA      | $-346607.11   | -0.05%            |  |  |  | No            |                  2 | On Loan: No      |
| QUIKRETE HOLDINGS INC                                                 | Quikrete Holdings Inc                                                            | CUSIP: 74843PAA8<br>LEI: 5493007KIN86DIZWZT22 | Long             | DBT              | CORP              | US        |    803000 | PA      | $831782.73    | 0.11%             | 2032-03-01      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| BOFA SECURITIES INC                                                   | RRP SINCLAIR TE                                                                  | CUSIP: 000000000<br>LEI: 549300HN4UKV1E2R3U73 | Short            | RA               | CORP              | US        |   -267375 | PA      | $-267375.00   | -0.04%            |  |  |  | No            |                  2 | On Loan: No      |
| WASTE PRO USA INC                                                     | Waste Pro USA Inc                                                                | CUSIP: 94107JAC7<br>LEI: 549300BY1QXU5BI3UF28 | Long             | DBT              | CORP              | US        |    631000 | PA      | $653587.91    | 0.09%             | 2033-02-01      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA BUYER/ATLANTI                                              | California Buyer Ltd / Atlantica Sustainable Infrastructure PLC                  | CUSIP: 13005HAA8<br>LEI: N/A                  | Long             | DBT              | CORP              | GB        |    150000 | PA      | $153739.65    | 0.02%             | 2032-02-15      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| VENTURE GLOBAL PLAQUE                                                 | Venture Global Plaquemines LNG LLC                                               | CUSIP: 922966AB2<br>LEI: 549300TKP4I6OJ02BF90 | Long             | DBT              | CORP              | US        |    240000 | PA      | $270889.99    | 0.04%             | 2035-05-01      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| CROWN CASTLE INC                                                      | Crown Castle Inc                                                                 | CUSIP: 22822VAW1<br>LEI: 54930012H97VSM0I2R19 | Long             | DBT              |  | US        |   1000000 | PA      | $875518.09    | 0.12%             | 2031-04-01      | Fixed         | 2.10%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                            | Fannie Mae Pool                                                                  | CUSIP: 3140QQXG5<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   1106651 | PA      | $1108858.54   | 0.15%             | 2037-11-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| BNP PARIBAS SA                                                        | RRP TREASURY NO                                                                  | CUSIP: 000000000<br>LEI: R0MUWSFPU8MPRO8K5P83 | Short            | RA               | CORP              | US        |  -8121750 | PA      | $-8121750.00  | -1.11%            |  |  |  | No            |                  2 | On Loan: No      |
| CP Atlas Buyer, Inc.                                                  | CP Atlas Buyer Inc 2025 Term Loan                                                | CUSIP: 12658HAL6<br>LEI: 2549006ZZ07G0NDDCR36 | Long             | LON              | CORP              | US        |     58000 | PA      | $56695.00     | 0.01%             | 2030-07-08      | Floating      | 9.41%                 | No            |                  2 | On Loan: No      |
| ROSSINI SARL                                                          | Rossini Sarl                                                                     | CUSIP: 000000000<br>LEI: 549300EC5JCCW6F83R11 | Long             | DBT              | CORP              | LU        |     42427 | PA      | $50456.33     | 0.01%             | 2029-12-31      | Floating      | 5.88%                 | No            |                  2 | On Loan: No      |
| LABL INC                                                              | LABL Inc                                                                         | CUSIP: 50168QAC9<br>LEI: 5493004FUZN8R6Y3VB98 | Long             | DBT              | CORP              | US        |     32000 | PA      | $24793.77     | 0.00%             | 2028-11-01      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| AbbVie Inc                                                            | AbbVie Inc                                                                       | CUSIP: 00287YAV1<br>LEI: FR5LCKFTG8054YNNRU85 | Long             | DBT              | CORP              | US        |   2670000 | PA      | $2566053.27   | 0.35%             | 2036-05-14      | Fixed         | 4.30%                 | No            |                  2 | On Loan: No      |
| CAMELOT US ACQUISITION LLC                                            | Camelot US Acquisition LLC 2025 Incremental Term Loan B                          | CUSIP: 000000000<br>LEI: 549300U6VBJHQP2SFL81 | Long             | LON              | CORP              | US        |    143000 | PA      | $142686.83    | 0.02%             | 2031-01-31      | Floating      | 7.41%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF KENYA                                                     | Republic of Kenya Government International Bond                                  | CUSIP: 491798AM6<br>LEI: 549300VVURQQYU45PR87 | Long             | DBT              | NUSS              | KE        |    200000 | PA      | $213460.00    | 0.03%             | 2031-02-16      | Fixed         | 9.75%                 | No            |                  2 | On Loan: No      |
| MORGAN STANLEY & CO LLC                                               | RRP OLYMPUS WAT                                                                  | CUSIP: 000000000<br>LEI: 9R7GPTSO7KV3UQJZQ078 | Short            | RA               | CORP              | US        |   -150000 | PA      | $-150000.00   | -0.02%            |  |  |  | No            |                  2 | On Loan: No      |
| CONNECT FINCO SARL/CONNE                                              | Connect Finco SARL / Connect US Finco LLC                                        | CUSIP: 20752TAB0<br>LEI: N/A                  | Long             | DBT              | CORP              | XX        |    220000 | PA      | $231309.06    | 0.03%             | 2029-09-15      | Fixed         | 9.00%                 | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS GROUP INC                                               | Goldman Sachs Group Inc/The                                                      | CUSIP: 38141GB37<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | DBT              | CORP              | US        |   2000000 | PA      | $2058888.26   | 0.28%             | 2035-07-23      | Fixed         | 5.33%                 | No            |                  2 | On Loan: No      |
| AMER AIRLN 15-2 AA PTT                                                | American Airlines 2015-2 Class AA Pass Through Trust                             | CUSIP: 02377BAB2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    824872 | PA      | $808287.85    | 0.11%             | 2027-09-22      | Fixed         | 3.60%                 | No            |                  2 | On Loan: No      |
| CommScope Inc                                                         | CommScope Inc 2024 Term Loan                                                     | CUSIP: 000000000<br>LEI: 549300Z6K4JXMFE8QY54 | Long             | LON              | CORP              | US        |    137485 | PA      | $139031.71    | 0.02%             | 2029-12-17      | Floating      | 8.91%                 | No            |                  2 | On Loan: No      |
| Navient Student Loan Trust                                            | Navient Private Education Refi Loan Trust 2023-A                                 | CUSIP: 638961AA0<br>LEI: 549300ZUZB9UCBWEBN39 | Long             | ABS-O            | CORP              | US        |    121729 | PA      | $124695.05    | 0.02%             | 2071-10-15      | Fixed         | 5.51%                 | No            |                  2 | On Loan: No      |
| Summer (BC) Holdco B Sa rl                                            | Summer (BC) Holdco B Sa rl 2024 USD Term Loan B                                  | CUSIP: 000000000<br>LEI: 984500NRF59D5DB9B654 | Long             | LON              | CORP              | LU        |     43807 | PA      | $43004.21     | 0.01%             | 2029-02-15      | Floating      | 9.26%                 | No            |                  2 | On Loan: No      |
| SMB Private Education Loan Trust                                      | SMB Private Education Loan Trust 2021-C                                          | CUSIP: 83208AAF0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    108162 | PA      | $94507.92     | 0.01%             | 2053-01-15      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| AMERITEX HOLDCO INTERMED                                              | AmeriTex HoldCo Intermediate LLC                                                 | CUSIP: 030727AB7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    133000 | PA      | $138424.87    | 0.02%             | 2033-08-15      | Fixed         | 7.63%                 | No            |                  2 | On Loan: No      |
| SEALED AIR CORP                                                       | Sealed Air Corp                                                                  | CUSIP: 81211KBA7<br>LEI: Q0M0CZB4YN6JZ65WXI09 | Long             | DBT              | CORP              | US        |     38000 | PA      | $37787.98     | 0.01%             | 2029-04-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                           | Freddie Mac Pool                                                                 | CUSIP: 3132DNHH9<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   1533948 | PA      | $1456729.48   | 0.20%             | 2052-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Towd Point Mortgage Trust                                             | Towd Point Mortgage Trust 2017-4                                                 | CUSIP: 89173UAA5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     43331 | PA      | $42445.90     | 0.01%             | 2057-06-25      | Variable      | 2.75%                 | No            |                  2 | On Loan: No      |
| VRTX Trust                                                            | VRTX Trust 2025-HQ                                                               | CUSIP: 91835XAC1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    730000 | PA      | $737242.11    | 0.10%             | 2042-08-05      | Variable      | 5.67%                 | No            |                  2 | On Loan: No      |
| CSC Holdings LLC                                                      | CSC Holdings LLC                                                                 | CUSIP: 126307AQ0<br>LEI: 3HG2WD2W22M120IUNG49 | Long             | DBT              | CORP              | US        |    200000 | PA      | $189825.65    | 0.03%             | 2027-04-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| SMB Private Education Loan Trust                                      | SMB Private Education Loan Trust 2021-C                                          | CUSIP: 83208AAG8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     53424 | PA      | $47838.10     | 0.01%             | 2053-01-15      | Fixed         | 3.93%                 | No            |                  2 | On Loan: No      |
| COSTA RICA GOVERNMENT                                                 | Costa Rica Government International Bond                                         | CUSIP: 221597CV7<br>LEI: 549300S1EK2VN6XVJP58 | Long             | DBT              | NUSS              | CR        |    200000 | PA      | $219000.00    | 0.03%             | 2054-11-13      | Fixed         | 7.30%                 | No            |                  2 | On Loan: No      |
| 1261229 BC LTD                                                        | 1261229 BC Ltd                                                                   | CUSIP: 68288AAA5<br>LEI: N/A                  | Long             | DBT              | CORP              | CA        |   2000000 | PA      | $2050104.08   | 0.28%             | 2032-04-15      | Fixed         | 10.00%                | No            |                  2 | On Loan: No      |
| ARAB REPUBLIC OF EGYPT                                                | Egypt Government International Bond                                              | CUSIP: 03846JAC4<br>LEI: 529900GFIVH4086NMH82 | Long             | DBT              | NUSS              | EG        |    219000 | PA      | $171477.00    | 0.02%             | 2061-02-16      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| VERITAS SERIES G PREFERRED STO                                        | VERITAS SERIES G PREFERRED STO                                                   | CUSIP: 000000000<br>LEI: N/A                  | Long             | EP               | CORP              | US        |       428 | NS      | $9737.00      | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| ALLIANT HOLD / CO-ISSUER                                              | Alliant Holdings Intermediate LLC / Alliant Holdings Co-Issuer                   | CUSIP: 01883LAE3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     71000 | PA      | $72258.48     | 0.01%             | 2028-04-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| Deutsche Bank AG                                                      | PURCHASED USD / SOLD EUR                                                         | CUSIP: 000000000<br>LEI: 7LTWFZYICNSX8D621K86 | N/A              | DFE              |  | US        |         1 | NC      | $110.07       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| ECHOSTAR CORP                                                         | EchoStar Corp                                                                    | CUSIP: 278768AC0<br>LEI: 549300EE20907QZ9GT38 | Long             | DBT              | CORP              | US        |    703503 | PA      | $773972.90    | 0.11%             | 2029-11-30      | Fixed         | 10.75%                | No            |                  2 | On Loan: No      |
| BOEING CO                                                             | Boeing Co/The                                                                    | CUSIP: 097023CN3<br>LEI: RVHJWBXLJ1RFUBSY1F30 | Long             | DBT              | CORP              | US        |    800000 | PA      | $753191.97    | 0.10%             | 2030-02-01      | Fixed         | 2.95%                 | No            |                  2 | On Loan: No      |
| ONEMAIN FINANCE CORP                                                  | OneMain Finance Corp                                                             | CUSIP: 682691AM2<br>LEI: 5493008I795YYBFWFU90 | Long             | DBT              | CORP              | US        |    257000 | PA      | $257406.06    | 0.04%             | 2033-03-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| CCO HLDGS LLC/CAP CORP                                                | CCO Holdings LLC / CCO Holdings Capital Corp                                     | CUSIP: 1248EPCN1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     15000 | PA      | $13650.99     | 0.00%             | 2032-05-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| MAXAM PRILL SARL                                                      | Maxam Prill Sarl                                                                 | CUSIP: 000000000<br>LEI: 984500C4C5B820A6B691 | Long             | DBT              | CORP              | LU        |    100000 | PA      | $119191.55    | 0.02%             | 2030-07-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| SABRE GLBL INC                                                        | Sabre GLBL Inc                                                                   | CUSIP: 78573NAL6<br>LEI: F2TJC7HPPHLHU1AQMP98 | Long             | DBT              | CORP              | US        |    274000 | PA      | $264793.28    | 0.04%             | 2029-11-15      | Fixed         | 10.75%                | No            |                  2 | On Loan: No      |
| CHOBANI LLC                                                           | Chobani LLC 2025 Repriced Term Loan B                                            | CUSIP: 17026YAK5<br>LEI: 549300ISVDMZ91KNTR38 | Long             | LON              | CORP              | US        |      6948 | PA      | $6963.41      | 0.00%             | 2027-10-25      | Floating      | 6.66%                 | No            |                  2 | On Loan: No      |
| AES ANDES SA                                                          | AES Andes SA                                                                     | CUSIP: 00111VAC1<br>LEI: 549300IF4IFG0FS0RM26 | Long             | DBT              | CORP              | CL        |    200000 | PA      | $211522.00    | 0.03%             | 2055-06-10      | Fixed         | 8.15%                 | No            |                  2 | On Loan: No      |
| HSBC Holdings PLC                                                     | HSBC Holdings PLC                                                                | CUSIP: 404280AM1<br>LEI: MLU0ZO3ML4LN2LL2TL39 | Long             | DBT              | CORP              | GB        |    610000 | PA      | $663933.51    | 0.09%             | 2042-01-14      | Fixed         | 6.10%                 | No            |                  2 | On Loan: No      |
| GGAM FINANCE LTD                                                      | GGAM Finance Ltd                                                                 | CUSIP: 36170JAD8<br>LEI: 254900X2QXEN0FVXRF65 | Long             | DBT              | CORP              | KY        |     86000 | PA      | $89182.95     | 0.01%             | 2029-04-15      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| CITIGROUP INC                                                         | Citigroup Inc                                                                    | CUSIP: 172967QA2<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |   2000000 | PA      | $2038002.82   | 0.28%             | 2031-05-07      | Fixed         | 4.95%                 | No            |                  2 | On Loan: No      |
| HAT HOLDINGS I LLC/HAT                                                | HAT Holdings I LLC / HAT Holdings II LLC                                         | CUSIP: 418751AL7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     36000 | PA      | $37478.98     | 0.01%             | 2027-06-15      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| State Street Bank & Trust Co.                                         | PURCHASED USD / SOLD EUR                                                         | CUSIP: 000000000<br>LEI: 571474TGEMMWANRLN572 | N/A              | DFE              |  | US        |         1 | NC      | $-246.27      | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Fannie Mae                                                            | Fannie Mae Pool                                                                  | CUSIP: 3138ELX73<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   1717896 | PA      | $1718860.83   | 0.24%             | 2042-04-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Navient Student Loan Trust                                            | Navient Private Education Refi Loan Trust 2021-E                                 | CUSIP: 63942EAA6<br>LEI: 549300ZUZB9UCBWEBN39 | Long             | ABS-O            | CORP              | US        |    678278 | PA      | $611375.72    | 0.08%             | 2069-12-16      | Fixed         | 0.97%                 | No            |                  2 | On Loan: No      |
| DARLING GLOBAL FINANCE                                                | Darling Global Finance BV                                                        | CUSIP: 000000000<br>LEI: 724500R2BQXOR6YG2Y67 | Long             | DBT              | CORP              | NL        |    100000 | PA      | $118535.35    | 0.02%             | 2032-07-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| OSAIC HOLDINGS INC                                                    | Osaic Holdings Inc                                                               | CUSIP: 00791GAC1<br>LEI: 549300XL60BDV6UW5C86 | Long             | DBT              | CORP              | US        |    127000 | PA      | $131622.42    | 0.02%             | 2033-08-01      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| PREMIER ENTERTAINMENT SU                                              | Premier Entertainment Sub LLC / Premier Entertainment Finance Corp               | CUSIP: 74052HAA2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     63000 | PA      | $34020.00     | 0.00%             | 2029-09-01      | Fixed         | 5.63%                 | No            |                  2 | On Loan: No      |
| CALPINE CORP                                                          | Calpine Corp                                                                     | CUSIP: 131347CN4<br>LEI: 43R4VPJBXTU2O15HEF41 | Long             | DBT              | CORP              | US        |     92000 | PA      | $92046.92     | 0.01%             | 2028-03-15      | Fixed         | 5.13%                 | No            |                  2 | On Loan: No      |
| Eaton Vance CDO Ltd                                                   | Eaton Vance Clo 2015-1 Ltd                                                       | CUSIP: 27830KAU8<br>LEI: 5493008YP5U5LTXAO749 | Long             | ABS-CBDO         | CORP              | KY        |   1000000 | PA      | $1000401.70   | 0.14%             | 2030-01-20      | Floating      | 5.84%                 | No            |                  2 | On Loan: No      |
| LABL INC                                                              | LABL Inc                                                                         | CUSIP: 50168QAF2<br>LEI: 5493004FUZN8R6Y3VB98 | Long             | DBT              | CORP              | US        |    132000 | PA      | $96971.65     | 0.01%             | 2031-10-01      | Fixed         | 8.63%                 | No            |                  2 | On Loan: No      |
| NOMURA SECURITIES INTERNATIONAL INC                                   | RRP INTERPUBLIC                                                                  | CUSIP: 000000000<br>LEI: OXTKY6Q8X53C9ILVV871 | Short            | RA               | CORP              | US        |   -309129 | PA      | $-309128.75   | -0.04%            |  |  |  | No            |                  2 | On Loan: No      |
| IRON MOUNTAIN INC                                                     | Iron Mountain Inc                                                                | CUSIP: 46284VAJ0<br>LEI: SQL3F6CKNNBM3SQGHX24 | Long             | DBT              |  | US        |     13000 | PA      | $12856.57     | 0.00%             | 2030-07-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| TALLGRASS NRG PRTNR/FIN                                               | Tallgrass Energy Partners LP / Tallgrass Energy Finance Corp                     | CUSIP: 87470LAK7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     67000 | PA      | $65554.29     | 0.01%             | 2031-09-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| PERMIAN RESOURC OPTG LLC                                              | Permian Resources Operating LLC                                                  | CUSIP: 27034RAA1<br>LEI: 5493004CTVUMQLRPOE23 | Long             | DBT              | CORP              | US        |    189000 | PA      | $191935.56    | 0.03%             | 2027-04-15      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| NATWEST GROUP PLC                                                     | NatWest Group PLC                                                                | CUSIP: 780097BQ3<br>LEI: 2138005O9XJIJN4JPN90 | Long             | DBT              | CORP              | GB        |   1575000 | PA      | $1576823.85   | 0.22%             | 2025-12-29      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| United States Treasury                                                | U.S. Treasury Bonds                                                              | CUSIP: 912810SC3<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   1900000 | PA      | $1465078.13   | 0.20%             | 2048-05-15      | Fixed         | 3.13%                 | No            |                  2 | On Loan: No      |
| NATIONSTAR MTG HLD INC                                                | Nationstar Mortgage Holdings Inc                                                 | CUSIP: 63861CAG4<br>LEI: 549300DQF6YN0E43PM71 | Long             | DBT              | CORP              | US        |    174000 | PA      | $178504.51    | 0.02%             | 2029-08-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| ROMANIA                                                               | Romanian Government International Bond                                           | CUSIP: 000000000<br>LEI: 315700IASY927EDWBK92 | Long             | DBT              | NUSS              | RO        |     65000 | PA      | $77809.03     | 0.01%             | 2039-07-11      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| WILSONART LLC                                                         | Wilsonart LLC 2024 Term Loan B                                                   | CUSIP: 97246FAM8<br>LEI: 549300SAZRUMYKDJBY14 | Long             | LON              | CORP              | US        |     81100 | PA      | $78261.27     | 0.01%             | 2031-08-05      | Floating      | 8.25%                 | No            |                  2 | On Loan: No      |
| CLOUD SOFTWARE GROUP INC                                              | Cloud Software Group Inc 2025 Term Loan B (2032)                                 | CUSIP: 88632NBL3<br>LEI: 04EEB871XLHVNY4RZJ65 | Long             | LON              | CORP              | US        |     86784 | PA      | $87031.15     | 0.01%             | 2032-08-13      | Floating      | 7.25%                 | No            |                  2 | On Loan: No      |
| Electricite de France SA                                              | Electricite de France SA                                                         | CUSIP: 268317AE4<br>LEI: 549300X3UK4GG3FNMO06 | Long             | DBT              | CORP              | FR        |   2800000 | PA      | $2822021.19   | 0.39%             | 2040-01-27      | Fixed         | 5.60%                 | No            |                  2 | On Loan: No      |
| BX Trust                                                              | BX Trust 2024-PAT                                                                | CUSIP: 05612FAC9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    170000 | PA      | $169999.56    | 0.02%             | 2041-03-15      | Floating      | 7.19%                 | No            |                  2 | On Loan: No      |
| SABLE INTL FINANCE LTD                                                | Sable International Finance Ltd                                                  | CUSIP: 785712AK6<br>LEI: 2138009IE9A35LO5JS73 | Long             | DBT              | CORP              | KY        |    260000 | PA      | $263386.50    | 0.04%             | 2032-10-15      | Fixed         | 7.13%                 | No            |                  2 | On Loan: No      |
| Panama Government International Bonds                                 | Panama Government International Bonds                                            | CUSIP: 698299BX1<br>LEI: 549300SHS4T08CL0LP14 | Long             | DBT              | NUSS              | PA        |    200000 | PA      | $220700.00    | 0.03%             | 2031-03-01      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| BOOTS GROUP FINCO LP                                                  | Boots Group Finco LP                                                             | CUSIP: 000000000<br>LEI: 254900YVLYOVF1PF1N93 | Long             | DBT              | CORP              | US        |    215000 | PA      | $259679.19    | 0.04%             | 2032-08-31      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| Navient Student Loan Trust                                            | Navient Private Education Refi Loan Trust 2019-D                                 | CUSIP: 63941CAB9<br>LEI: 549300ZUZB9UCBWEBN39 | Long             | ABS-O            | CORP              | US        |    332319 | PA      | $323394.53    | 0.04%             | 2059-12-15      | Fixed         | 3.01%                 | No            |                  2 | On Loan: No      |
| EUTELSAT SA                                                           | Eutelsat SA                                                                      | CUSIP: 000000000<br>LEI: 549300MCOOY1V7P2PG30 | Long             | DBT              | CORP              | FR        |    100000 | PA      | $126753.47    | 0.02%             | 2029-04-13      | Fixed         | 9.75%                 | No            |                  2 | On Loan: No      |
| WELLS FARGO SECURITIES LLC                                            | RRP FGOLD 20YR                                                                   | CUSIP: 000000000<br>LEI: VYVVCKR63DVZZN70PB21 | Short            | RA               | CORP              | US        |  -3357087 | PA      | $-3357087.43  | -0.46%            |  |  |  | No            |                  2 | On Loan: No      |
| CoreLogic Inc                                                         | CoreLogic Inc Term Loan                                                          | CUSIP: 21870FBA6<br>LEI: 54930086CD8K2UIL0516 | Long             | LON              | CORP              | US        |     83817 | PA      | $83738.51     | 0.01%             | 2028-06-02      | Floating      | 7.78%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                            | Fannie Mae Pool                                                                  | CUSIP: 3140QQ6G5<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   1344790 | PA      | $1383525.21   | 0.19%             | 2038-01-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| EQUATE PETROCHEMICAL CO                                               | EQUATE Petrochemical Co KSC                                                      | CUSIP: 000000000<br>LEI: 635400J73BDO4TTGXD45 | Long             | DBT              | CORP              | KW        |    200000 | PA      | $199100.00    | 0.03%             | 2026-11-03      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| Canyon Capital CLO Ltd                                                | Canyon Capital CLO 2016-1 Ltd                                                    | CUSIP: 13887PAP0<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    250000 | PA      | $250483.78    | 0.03%             | 2031-07-15      | Floating      | 6.48%                 | No            |                  2 | On Loan: No      |
| DOMINICAN REPUBLIC                                                    | Dominican Republic International Bond                                            | CUSIP: 25714PET1<br>LEI: 254900EHU7Q8FGVPI369 | Long             | DBT              | NUSS              | DO        |    150000 | PA      | $161775.00    | 0.02%             | 2031-02-03      | Fixed         | 7.05%                 | No            |                  2 | On Loan: No      |
| Halliburton Co                                                        | Halliburton Co                                                                   | CUSIP: 406216BE0<br>LEI: ENYF8GB5SMQZ25S06U51 | Long             | DBT              | CORP              | US        |    500000 | PA      | $447469.31    | 0.06%             | 2043-08-01      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| ATI INC                                                               | ATI Inc                                                                          | CUSIP: 01741RAN2<br>LEI: ZW1LRE7C3H17O2ZN9B45 | Long             | DBT              | CORP              | US        |    255000 | PA      | $267669.68    | 0.04%             | 2030-08-15      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| Chicago Board of Trade                                                | US 2YR NOTE (CBT) DEC25                                                          | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DIR              |  | US        |       157 | NC      | $-38230.44    | -0.01%            |  |  |  | No            |                  1 | On Loan: No      |
| AMGEN INC                                                             | Amgen Inc                                                                        | CUSIP: 031162DQ0<br>LEI: 62QBXGPJ34PQ72Z12S66 | Long             | DBT              | CORP              | US        |    800000 | PA      | $829294.33    | 0.11%             | 2030-03-02      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| BCP MODULAR SERVICES                                                  | BCP V Modular Services Finance II PLC                                            | CUSIP: 000000000<br>LEI: 213800227GGD6UI7PI97 | Long             | DBT              | CORP              | GB        |    100000 | PA      | $112393.61    | 0.02%             | 2028-11-30      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| CLYDESDALE ACQUISITION                                                | Clydesdale Acquisition Holdings Inc                                              | CUSIP: 18972EAB1<br>LEI: 254900QKSDYFR3K5YD98 | Long             | DBT              | CORP              | US        |    312000 | PA      | $320499.82    | 0.04%             | 2030-04-15      | Fixed         | 8.75%                 | No            |                  2 | On Loan: No      |
| SERVICE PROPERTIES TRUST                                              | Service Properties Trust                                                         | CUSIP: 81761LAF9<br>LEI: 529900IS770AG1K9QG27 | Long             | DBT              |  | US        |    157000 | PA      | $138400.26    | 0.02%             | 2027-09-30      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| HILCORP ENERGY I/HILCORP                                              | Hilcorp Energy I LP / Hilcorp Finance Co                                         | CUSIP: 431318AU8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     94000 | PA      | $92599.31     | 0.01%             | 2029-02-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| GGAM FINANCE LTD                                                      | GGAM Finance Ltd                                                                 | CUSIP: 36170JAB2<br>LEI: 254900X2QXEN0FVXRF65 | Long             | DBT              | CORP              | KY        |     30000 | PA      | $30074.87     | 0.00%             | 2026-05-15      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| PROGRESSIVE CORP                                                      | Progressive Corp/The                                                             | CUSIP: 743315AZ6<br>LEI: 529900TACNVLY9DCR586 | Long             | DBT              | CORP              | US        |    750000 | PA      | $692204.17    | 0.09%             | 2032-03-15      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| GrafTech Finance Inc                                                  | GrafTech Finance Inc 2024 Term Loan                                              | CUSIP: 000000000<br>LEI: 1Z010BU876CF2HDBIN43 | Long             | LON              | CORP              | US        |     59408 | PA      | $60328.92     | 0.01%             | 2029-12-21      | Floating      | 10.16%                | No            |                  2 | On Loan: No      |
| VERITAS SERIES G 1 PREFERRED                                          | VERITAS SERIES G 1 PREFERRED                                                     | CUSIP: 000000000<br>LEI: N/A                  | Long             | EP               | CORP              | US        |       296 | NS      | $6734.00      | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| ARCHKEY SOLUTIONS LLC                                                 | Archkey Solutions LLC 2024 Term Loan B                                           | CUSIP: 48205CAC9<br>LEI: 254900FACU3AJQKAQ270 | Long             | LON              | CORP              | US        |     37846 | PA      | $38075.04     | 0.01%             | 2031-11-01      | Floating      | 8.25%                 | No            |                  2 | On Loan: No      |
| WELLS FARGO & COMPANY                                                 | Wells Fargo & Co                                                                 | CUSIP: 95000U2Q5<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | DBT              | CORP              | US        |   2250000 | PA      | $1746646.45   | 0.24%             | 2041-04-30      | Fixed         | 3.07%                 | No            |                  2 | On Loan: No      |
| TransDigm Inc                                                         | TransDigm Inc 2025 Term Loan M                                                   | CUSIP: 89364MCE2<br>LEI: 88Q84GB3X55CF5OC7582 | Long             | LON              | CORP              | US        |    254000 | PA      | $253674.88    | 0.03%             | 2032-08-19      | Floating      | 6.66%                 | No            |                  2 | On Loan: No      |
| CITIGROUP INC                                                         | Citigroup Inc                                                                    | CUSIP: 172967PJ4<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |   2500000 | PA      | $2580377.50   | 0.35%             | 2029-05-15      | Fixed         | 7.20%                 | No            |                  2 | On Loan: No      |
| BOEING CO                                                             | Boeing Co/The                                                                    | CUSIP: 097023CD5<br>LEI: RVHJWBXLJ1RFUBSY1F30 | Long             | DBT              | CORP              | US        |   1840000 | PA      | $1775448.88   | 0.24%             | 2029-03-01      | Fixed         | 3.20%                 | No            |                  2 | On Loan: No      |
| K HOVNANIAN ENTERPRISES                                               | K Hovnanian Enterprises Inc                                                      | CUSIP: 48251UAQ1<br>LEI: 549300JJCQ0KAI7CJG32 | Long             | DBT              | CORP              | US        |    194000 | PA      | $198898.87    | 0.03%             | 2033-10-01      | Fixed         | 8.38%                 | No            |                  2 | On Loan: No      |
| CSC HOLDINGS LLC                                                      | CSC Holdings LLC                                                                 | CUSIP: 126307BN6<br>LEI: 3HG2WD2W22M120IUNG49 | Long             | DBT              | CORP              | US        |    200000 | PA      | $168188.82    | 0.02%             | 2029-01-31      | Fixed         | 11.75%                | No            |                  2 | On Loan: No      |
| MORGAN STANLEY & CO LLC                                               | RRP XPLR INFRAS                                                                  | CUSIP: 000000000<br>LEI: 9R7GPTSO7KV3UQJZQ078 | Short            | RA               | CORP              | US        |   -365919 | PA      | $-365918.75   | -0.05%            |  |  |  | No            |                  2 | On Loan: No      |
| THE 2023-MIC Trust                                                    | 2023-MIC Trust/THE                                                               | CUSIP: 87256GAC6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    234000 | PA      | $253545.67    | 0.03%             | 2038-12-05      | Variable      | 9.86%                 | No            |                  2 | On Loan: No      |
| Chicago Board of Trade                                                | US ULTRA BOND CBT DEC25                                                          | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DIR              |  | US        |       156 | NC      | $529700.05    | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| FIESTA PURCHASER INC                                                  | Fiesta Purchaser Inc                                                             | CUSIP: 31659AAB2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     48000 | PA      | $51820.42     | 0.01%             | 2032-09-15      | Fixed         | 9.63%                 | No            |                  2 | On Loan: No      |
| ADVANCED DRAINAGE SYSTEM                                              | Advanced Drainage Systems Inc                                                    | CUSIP: 00790RAB0<br>LEI: 6QQTOZ5MF5DHM7K92I60 | Long             | DBT              | CORP              | US        |    153000 | PA      | $155709.78    | 0.02%             | 2030-06-15      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| CRESCENT ENERGY FINANCE                                               | Crescent Energy Finance LLC                                                      | CUSIP: 45344LAG8<br>LEI: 54930061FUL6DBLFUW14 | Long             | DBT              | CORP              | US        |    202000 | PA      | $204665.90    | 0.03%             | 2034-01-15      | Fixed         | 8.38%                 | No            |                  2 | On Loan: No      |
| Amneal Pharmaceuticals LLC                                            | Amneal Pharmaceuticals LLC 2023 Term Loan B                                      | CUSIP: 03167DAQ7<br>LEI: 54930037VIXE7LRZ1M66 | Long             | LON              | CORP              | US        |         0 | PA      | $0.00         | 0.00%             | 2028-05-04      | Floating      | 9.96%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                           | Freddie Mac Pool                                                                 | CUSIP: 3133KY4C0<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |  13081968 | PA      | $13236384.58  | 1.81%             | 2044-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| RAKUTEN GROUP INC                                                     | Rakuten Group Inc                                                                | CUSIP: 75102WAG3<br>LEI: 529900IMXUCQKUL1H943 | Long             | DBT              | CORP              | JP        |    200000 | PA      | $216769.03    | 0.03%             | 2027-02-15      | Fixed         | 11.25%                | No            |                  2 | On Loan: No      |
| DK Trust                                                              | DK Trust 2025-LXP                                                                | CUSIP: 23292LAC6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    220000 | PA      | $220068.75    | 0.03%             | 2037-08-15      | Floating      | 5.99%                 | No            |                  2 | On Loan: No      |
| CROWN CASTLE INC                                                      | Crown Castle Inc                                                                 | CUSIP: 22822VAX9<br>LEI: 54930012H97VSM0I2R19 | Long             | DBT              |  | US        |    350000 | PA      | $256096.98    | 0.04%             | 2041-04-01      | Fixed         | 2.90%                 | No            |                  2 | On Loan: No      |
| BIG RIVER STEEL/BRS FIN                                               | Big River Steel LLC / BRS Finance Corp                                           | CUSIP: 08949LAB6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    302000 | PA      | $302118.08    | 0.04%             | 2029-01-31      | Fixed         | 6.63%                 | No            |                  2 | On Loan: No      |
| ASCENT RESOURCES/ARU FIN                                              | Ascent Resources Utica Holdings LLC / ARU Finance Corp                           | CUSIP: 04364VAU7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |      6000 | PA      | $5987.65      | 0.00%             | 2029-06-30      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| POST HOLDINGS INC                                                     | Post Holdings Inc                                                                | CUSIP: 737446AV6<br>LEI: JM1I5YUAURL6DC8N1468 | Long             | DBT              | CORP              | US        |    235000 | PA      | $237187.62    | 0.03%             | 2033-03-01      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| DISH DBS CORP                                                         | DISH DBS Corp                                                                    | CUSIP: 25470XBF1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    373000 | PA      | $357572.72    | 0.05%             | 2028-12-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| AMGEN INC                                                             | Amgen Inc                                                                        | CUSIP: 031162DJ6<br>LEI: 62QBXGPJ34PQ72Z12S66 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $972509.00    | 0.13%             | 2033-03-01      | Fixed         | 4.20%                 | No            |                  2 | On Loan: No      |
| TENET HEALTHCARE CORP                                                 | Tenet Healthcare Corp                                                            | CUSIP: 88033GDU1<br>LEI: 0W9AIBT6U6ADJ2I8HK17 | Long             | DBT              | CORP              | US        |    181000 | PA      | $187385.46    | 0.03%             | 2031-05-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| ATI INC                                                               | ATI Inc                                                                          | CUSIP: 01741RAM4<br>LEI: ZW1LRE7C3H17O2ZN9B45 | Long             | DBT              | CORP              | US        |    110000 | PA      | $108253.66    | 0.01%             | 2031-10-01      | Fixed         | 5.13%                 | No            |                  2 | On Loan: No      |
| Wells Fargo Commercial Mortgage Trust                                 | Wells Fargo Commercial Mortgage Trust 2025-5C3                                   | CUSIP: 95004JAC8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    611000 | PA      | $648102.67    | 0.09%             | 2058-01-15      | Fixed         | 6.10%                 | No            |                  2 | On Loan: No      |
| MEDLINE BORROWER LP                                                   | Medline Borrower LP                                                              | CUSIP: 62482BAA0<br>LEI: 254900QT3R363TVK6F09 | Long             | DBT              | CORP              | US        |     67000 | PA      | $64617.75     | 0.01%             | 2029-04-01      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| BOFA SECURITIES INC                                                   | RRP PRIME SECUR                                                                  | CUSIP: 000000000<br>LEI: 549300HN4UKV1E2R3U73 | Short            | RA               | CORP              | US        |   -109838 | PA      | $-109837.50   | -0.02%            |  |  |  | No            |                  2 | On Loan: No      |
| ALEXANDRITE LAKE LUX HOL                                              | Alexandrite Lake Lux Holdings Sarl                                               | CUSIP: 000000000<br>LEI: 213800RY78YHYF5J8L55 | Long             | DBT              | CORP              | LU        |    100000 | PA      | $120107.61    | 0.02%             | 2030-07-30      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| ALPHA GENERATION LLC                                                  | Alpha Generation LLC                                                             | CUSIP: 02073LAA9<br>LEI: 254900K5V62L4YGVKF49 | Long             | DBT              | CORP              | US        |    181000 | PA      | $186844.57    | 0.03%             | 2032-10-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| SOMNIGROUP INTL INC                                                   | Somnigroup International Inc                                                     | CUSIP: 88023UAJ0<br>LEI: 549300HFEKVR3US71V91 | Long             | DBT              | CORP              | US        |     45000 | PA      | $41214.27     | 0.01%             | 2031-10-15      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| GOODYEAR TIRE & RUBBER                                                | Goodyear Tire & Rubber Co/The                                                    | CUSIP: 382550BJ9<br>LEI: 5493002BI0S2ZQUY3437 | Long             | DBT              | CORP              | US        |      6000 | PA      | $5670.00      | 0.00%             | 2031-04-30      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| BNP PARIBAS SA                                                        | RRP VENTURE GLO                                                                  | CUSIP: 000000000<br>LEI: R0MUWSFPU8MPRO8K5P83 | Short            | RA               | CORP              | US        |   -610650 | PA      | $-610650.00   | -0.08%            |  |  |  | No            |                  2 | On Loan: No      |
| BALTIMORE GAS & ELECTRIC                                              | Baltimore Gas and Electric Co                                                    | CUSIP: 059165EH9<br>LEI: 88V8C2WYSOD1SPSSLH72 | Long             | DBT              | CORP              | US        |    800000 | PA      | $604190.84    | 0.08%             | 2046-08-15      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| BNP PARIBAS SA                                                        | RRP LIFEPOINT H                                                                  | CUSIP: 000000000<br>LEI: R0MUWSFPU8MPRO8K5P83 | Short            | RA               | CORP              | US        |   -132678 | PA      | $-132677.50   | -0.02%            |  |  |  | No            |                  2 | On Loan: No      |
| BELRON UK FINANCE PLC                                                 | Belron UK Finance PLC                                                            | CUSIP: 080782AA3<br>LEI: 9845006BC9D1A77B8178 | Long             | DBT              | CORP              | GB        |    218000 | PA      | $220841.41    | 0.03%             | 2029-10-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| NRG ENERGY INC                                                        | NRG Energy Inc                                                                   | CUSIP: 629377DD1<br>LEI: 5E2UPK5SW04M13XY7I38 | Long             | DBT              | CORP              | US        |    965000 | PA      | $965138.60    | 0.13%             | 2036-01-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                            | Fannie Mae Pool                                                                  | CUSIP: 31410KXV1<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    190239 | PA      | $197716.00    | 0.03%             | 2038-06-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| CHURCHILL DOWNS INC                                                   | Churchill Downs Inc                                                              | CUSIP: 12511VAA6<br>LEI: 529900FODTBQC8MIS994 | Long             | DBT              | CORP              | US        |    149000 | PA      | $148865.66    | 0.02%             | 2030-04-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| State of California                                                   | CALIFORNIA ST                                                                    | CUSIP: 13063D3S5<br>LEI: 9845007J7054602FF597 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1010740.51   | 0.14%             | 2038-03-01      | Fixed         | 5.13%                 | No            |                  2 | On Loan: No      |
| COLUMBIA UNIVERSITY                                                   | Trustees of Columbia University in the City of New York/The                      | CUSIP: 198643AD0<br>LEI: 54930058W39DHS3GTG15 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $979107.92    | 0.13%             | 2035-10-01      | Fixed         | 4.36%                 | No            |                  2 | On Loan: No      |
| AMERICAN TOWER CORP                                                   | American Tower Corp                                                              | CUSIP: 03027XBA7<br>LEI: 5493006ORUSIL88JOE18 | Long             | DBT              |  | US        |   2500000 | PA      | $2356351.93   | 0.32%             | 2030-01-15      | Fixed         | 2.90%                 | No            |                  2 | On Loan: No      |
| Kraft Heinz Foods Co                                                  | Kraft Heinz Foods Co                                                             | CUSIP: 50077LAB2<br>LEI: 5493003STKEZ2S0RNU91 | Long             | DBT              | CORP              | US        |    200000 | PA      | $166437.56    | 0.02%             | 2046-06-01      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| ROMANIA                                                               | Romanian Government International Bond                                           | CUSIP: 000000000<br>LEI: 315700IASY927EDWBK92 | Long             | DBT              | NUSS              | RO        |    145000 | PA      | $175085.71    | 0.02%             | 2034-09-10      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| GARDA WORLD SECURITY                                                  | Garda World Security Corp                                                        | CUSIP: 36485MAM1<br>LEI: 549300ZF1NDXLMCHNO20 | Long             | DBT              | CORP              | CA        |    108000 | PA      | $110711.23    | 0.02%             | 2028-02-15      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| BX Trust                                                              | BX Trust 2022-VAMF                                                               | CUSIP: 05609TAA8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1300000 | PA      | $1298781.25   | 0.18%             | 2039-01-15      | Floating      | 5.00%                 | No            |                  2 | On Loan: No      |
| BX Trust                                                              | BX Commercial Mortgage Trust 2024-XL4                                            | CUSIP: 05611VAE1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     92804 | PA      | $93064.54     | 0.01%             | 2039-02-15      | Floating      | 6.34%                 | No            |                  2 | On Loan: No      |
| Deutsche Bank AG                                                      | PURCHASED USD / SOLD EUR                                                         | CUSIP: 000000000<br>LEI: 7LTWFZYICNSX8D621K86 | N/A              | DFE              |  | US        |         1 | NC      | $164.05       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| MIDCAP FINANCIAL                                                      | Midcap Financial Issuer Trust                                                    | CUSIP: 59590AAA7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    200000 | PA      | $188582.00    | 0.03%             | 2030-01-15      | Fixed         | 5.63%                 | No            |                  2 | On Loan: No      |
| NOMURA SECURITIES INTERNATIONAL INC                                   | RRP ARDAGH META                                                                  | CUSIP: 000000000<br>LEI: OXTKY6Q8X53C9ILVV871 | Short            | RA               | CORP              | US        |   -581398 | PA      | $-581398.02   | -0.08%            |  |  |  | No            |                  2 | On Loan: No      |
| SCHAEFFLER AG                                                         | Schaeffler AG                                                                    | CUSIP: 000000000<br>LEI: 549300Q7E782X7GC1P43 | Long             | DBT              | CORP              | DE        |    100000 | PA      | $119328.98    | 0.02%             | 2028-04-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| LABL Inc                                                              | LABL Inc 2021 USD 1st Lien Term Loan                                             | CUSIP: 50168EAN2<br>LEI: 5493004FUZN8R6Y3VB98 | Long             | LON              | CORP              | US        |    141510 | PA      | $115684.80    | 0.02%             | 2028-10-30      | Floating      | 9.26%                 | No            |                  2 | On Loan: No      |
| CIM Trust                                                             | CIM Trust 2023-I2                                                                | CUSIP: 12570HAA5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    865652 | PA      | $871594.18    | 0.12%             | 2067-12-25      | Variable      | 6.64%                 | No            |                  2 | On Loan: No      |
| BX Trust                                                              | BX Commercial Mortgage Trust 2021-CIP                                            | CUSIP: 12434FAA5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    532185 | PA      | $531852.66    | 0.07%             | 2038-12-15      | Floating      | 5.19%                 | No            |                  2 | On Loan: No      |
| NGL ENRGY OP/FIN CORP                                                 | NGL Energy Operating LLC / NGL Energy Finance Corp                               | CUSIP: 62922LAD0<br>LEI: 5299005YSRP46BE8Z459 | Long             | DBT              | CORP              | US        |    496000 | PA      | $508224.42    | 0.07%             | 2032-02-15      | Fixed         | 8.38%                 | No            |                  2 | On Loan: No      |
| VERISURE HOLDING AB                                                   | Verisure Holding AB                                                              | CUSIP: 000000000<br>LEI: 549300VQQCWGISM3N408 | Long             | DBT              | CORP              | SE        |     80000 | PA      | $96337.98     | 0.01%             | 2027-10-15      | Fixed         | 9.25%                 | No            |                  2 | On Loan: No      |
| LOWE'S COS INC                                                        | Lowe's Cos Inc                                                                   | CUSIP: 548661EL7<br>LEI: WAFCR4OKGSC504WU3E95 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $1023215.09   | 0.14%             | 2033-04-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| AVANTOR FUNDING INC                                                   | Avantor Funding Inc                                                              | CUSIP: 05352TAB5<br>LEI: 5493003VM0XB4U8YD238 | Long             | DBT              | CORP              | US        |     17000 | PA      | $16166.41     | 0.00%             | 2029-11-01      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| NRG ENERGY INC                                                        | NRG Energy Inc                                                                   | CUSIP: 629377CU4<br>LEI: 5E2UPK5SW04M13XY7I38 | Long             | DBT              | CORP              | US        |    340000 | PA      | $370724.44    | 0.05%             | 2028-03-15      | Fixed         | 10.25%                | No            |                  2 | On Loan: No      |
| BARCLAYS CAPITAL INC                                                  | RRP PROLOGIS LP                                                                  | CUSIP: 000000000<br>LEI: AC28XWWI3WIBK2824319 | Short            | RA               | CORP              | US        |   -955000 | PA      | $-955000.00   | -0.13%            |  |  |  | No            |                  2 | On Loan: No      |
| ZAYO GROUP HOLDINGS INC                                               | ZAYO GROUP HOLDINGS INC 2025 USD TERM LOAN                                       | CUSIP: 98919XAH4<br>LEI: 529900Z6OTS7RT0V0I47 | Long             | LON              | CORP              | US        |     65000 | PA      | $62996.05     | 0.01%             | 2030-03-11      | Floating      | 7.61%                 | No            |                  2 | On Loan: No      |
| OLYMPUS WTR US HLDG CORP                                              | Olympus Water US Holding Corp                                                    | CUSIP: 681639AD2<br>LEI: 549300YU2GGVCBN3MY89 | Long             | DBT              | CORP              | US        |    320000 | PA      | $324408.00    | 0.04%             | 2031-06-15      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| BFLD Trust                                                            | BFLD Commercial Mortgage Trust 2024-UNIV                                         | CUSIP: 08861RAG6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    630000 | PA      | $632362.50    | 0.09%             | 2041-11-15      | Floating      | 6.84%                 | No            |                  2 | On Loan: No      |
| APOLLO DEBT SOLUTIONS BD                                              | Apollo Debt Solutions BDC                                                        | CUSIP: 03770DAE3<br>LEI: 549300UMUGX092P8DW87 | Long             | DBT              | CORP              | US        |     24000 | PA      | $25185.26     | 0.00%             | 2032-03-15      | Fixed         | 6.55%                 | No            |                  2 | On Loan: No      |
| Elmwood CLO 21 Ltd                                                    | Elmwood CLO 21 Ltd                                                               | CUSIP: 289907AS6<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    500000 | PA      | $501139.20    | 0.07%             | 2036-10-20      | Floating      | 7.03%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                           | Freddie Mac Pool                                                                 | CUSIP: 3133LPTN7<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   4121258 | PA      | $3883376.52   | 0.53%             | 2031-05-01      | Fixed         | 1.50%                 | No            |                  2 | On Loan: No      |
| INDIA CLEANTECH ENERGY                                                | India Cleantech Energy                                                           | CUSIP: 45410BAA2<br>LEI: 254900DGTS4HHR3Q6F66 | Long             | DBT              | CORP              | MU        |    189750 | PA      | $187947.38    | 0.03%             | 2026-08-10      | Fixed         | 4.70%                 | No            |                  2 | On Loan: No      |
| WELLS FARGO SECURITIES LLC                                            | RRP FNMA 15YR U                                                                  | CUSIP: 000000000<br>LEI: VYVVCKR63DVZZN70PB21 | Short            | RA               | CORP              | US        |   -714096 | PA      | $-714095.89   | -0.10%            |  |  |  | No            |                  2 | On Loan: No      |
| MORGAN STANLEY                                                        | Morgan Stanley                                                                   | CUSIP: 61747YFG5<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |    735000 | PA      | $765797.32    | 0.10%             | 2034-07-21      | Fixed         | 5.42%                 | No            |                  2 | On Loan: No      |
| Boxer Parent Company Inc.                                             | Boxer Parent Company Inc 2024 2nd Lien Term Loan                                 | CUSIP: 05988HAL1<br>LEI: 5493006T045HLTF7YX04 | Long             | LON              | CORP              | US        |    115000 | PA      | $111837.50    | 0.02%             | 2032-07-30      | Floating      | 9.95%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF INDONESIA                                                 | Indonesia Government International Bond                                          | CUSIP: 000000000<br>LEI: 529900FWX0GRR7WG5W79 | Long             | DBT              | NUSS              | ID        |    100000 | PA      | $119312.90    | 0.02%             | 2033-01-15      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| PG&E CORP                                                             | PG&E Corp                                                                        | CUSIP: 69331CAM0<br>LEI: 8YQ2GSDWYZXO2EDN3511 | Long             | DBT              | CORP              | US        |   1723000 | PA      | $1770124.14   | 0.24%             | 2055-03-15      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| BROADCOM INC                                                          | Broadcom Inc                                                                     | CUSIP: 11135FBL4<br>LEI: 549300WV6GIDOZJTV909 | Long             | DBT              | CORP              | US        |    700000 | PA      | $638820.64    | 0.09%             | 2034-04-15      | Fixed         | 3.47%                 | No            |                  2 | On Loan: No      |
| RTX CORP                                                              | RTX Corp                                                                         | CUSIP: 75513ECN9<br>LEI: I07WOS4YJ0N7YRFE7309 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $883540.95    | 0.12%             | 2032-03-15      | Fixed         | 2.38%                 | No            |                  2 | On Loan: No      |
| EQT CORP                                                              | EQT Corp                                                                         | CUSIP: 26884LAX7<br>LEI: 4NT01YGM4X7ZX86ISY52 | Long             | DBT              | CORP              | US        |     13000 | PA      | $13001.87     | 0.00%             | 2029-01-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| WELLS FARGO SECURITIES LLC                                            | RRP FNMA 15YR U                                                                  | CUSIP: 000000000<br>LEI: VYVVCKR63DVZZN70PB21 | Short            | RA               | CORP              | US        |  -1823638 | PA      | $-1823637.79  | -0.25%            |  |  |  | No            |                  2 | On Loan: No      |
| FAIR ISAAC CORP                                                       | Fair Isaac Corp                                                                  | CUSIP: 303250AF1<br>LEI: RI6HET5SJUEY30V1PS26 | Long             | DBT              | CORP              | US        |     45000 | PA      | $43764.47     | 0.01%             | 2028-06-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| WELLS FARGO SECURITIES LLC                                            | RRP GNMA2 30YR                                                                   | CUSIP: 000000000<br>LEI: VYVVCKR63DVZZN70PB21 | Short            | RA               | CORP              | US        |   -753931 | PA      | $-753931.38   | -0.10%            |  |  |  | No            |                  2 | On Loan: No      |
| CVS HEALTH CORP                                                       | CVS Health Corp                                                                  | CUSIP: 126650EH9<br>LEI: 549300EJG376EN5NQE29 | Long             | DBT              | CORP              | US        |   1305000 | PA      | $1369914.54   | 0.19%             | 2055-03-10      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| OEG FINANCE PLC                                                       | OEG Finance PLC                                                                  | CUSIP: 000000000<br>LEI: 254900KMBHWF9UK63G44 | Long             | DBT              | CORP              | GB        |    100000 | PA      | $122709.22    | 0.02%             | 2029-09-27      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| NORFOLK SOUTHERN CORP                                                 | Norfolk Southern Corp                                                            | CUSIP: 655844CR7<br>LEI: 54930036C8MWP850MI84 | Long             | DBT              | CORP              | US        |   1800000 | PA      | $1866130.20   | 0.26%             | 2030-08-01      | Fixed         | 5.05%                 | No            |                  2 | On Loan: No      |
| FOCUS FINANCIAL PARTNERS                                              | Focus Financial Partners LLC                                                     | CUSIP: 34417VAA5<br>LEI: 5493007L0E0VKRC2CP39 | Long             | DBT              | CORP              | US        |    167000 | PA      | $171027.71    | 0.02%             | 2031-09-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| Northwell Healthcare Inc                                              | Northwell Healthcare Inc                                                         | CUSIP: 667274AC8<br>LEI: 54930073NUTKK4QD3P47 | Long             | DBT              | CORP              | US        |    725000 | PA      | $594142.51    | 0.08%             | 2047-11-01      | Fixed         | 4.26%                 | No            |                  2 | On Loan: No      |
| CLOUD SOFTWARE GRP INC                                                | Cloud Software Group Inc                                                         | CUSIP: 18912UAC6<br>LEI: 04EEB871XLHVNY4RZJ65 | Long             | DBT              | CORP              | US        |    815000 | PA      | $864514.00    | 0.12%             | 2032-06-30      | Fixed         | 8.25%                 | No            |                  2 | On Loan: No      |
| IRON MOUNTAIN INC                                                     | Iron Mountain Inc                                                                | CUSIP: 46284VAL5<br>LEI: SQL3F6CKNNBM3SQGHX24 | Long             | DBT              |  | US        |     62000 | PA      | $61669.05     | 0.01%             | 2032-07-15      | Fixed         | 5.63%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF SOUTH AFRICA                                              | Republic of South Africa Government International Bond                           | CUSIP: 836205BG8<br>LEI: 378900AAFB4F17004C49 | Long             | DBT              | NUSS              | ZA        |    200000 | PA      | $202947.00    | 0.03%             | 2054-11-19      | Fixed         | 7.95%                 | No            |                  2 | On Loan: No      |
| MCAFEE CORP                                                           | McAfee Corp                                                                      | CUSIP: 579063AB4<br>LEI: 2549009UKR8UEZYVCR93 | Long             | DBT              | CORP              | US        |    252000 | PA      | $233753.03    | 0.03%             | 2030-02-15      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| CAESARS ENTERTAIN INC                                                 | Caesars Entertainment Inc                                                        | CUSIP: 12769GAA8<br>LEI: 549300FA4CTCW903Y781 | Long             | DBT              | CORP              | US        |      2000 | PA      | $1912.47      | 0.00%             | 2029-10-15      | Fixed         | 4.63%                 | No            |                  2 | On Loan: No      |
| GS Mortgage Securities Trust                                          | GS Mortgage Securities Corp Trust 2025-800D                                      | CUSIP: 36273XAA9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    216000 | PA      | $216306.05    | 0.03%             | 2041-11-25      | Floating      | 6.79%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                            | Fannie Mae Pool                                                                  | CUSIP: 3140QQJC0<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    819813 | PA      | $831382.78    | 0.11%             | 2037-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| DIGITAL REALTY TRUST LP                                               | Digital Realty Trust LP                                                          | CUSIP: 25389JAX4<br>LEI: CD4SPTZ3YBTHY0C1AH38 | Long             | DBT              |  | US        |     45000 | PA      | $47250.00     | 0.01%             | 2029-11-15      | Fixed         | 1.88%                 | No            |                  2 | On Loan: No      |
| WR GRACE HOLDING LLC                                                  | WR Grace Holdings LLC                                                            | CUSIP: 92943GAE1<br>LEI: 549300WNOVFRGYOAEB12 | Long             | DBT              | CORP              | US        |    122000 | PA      | $124416.70    | 0.02%             | 2031-03-01      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| Countrywide Alternative Loan Trust                                    | Alternative Loan Trust 2005-64CB                                                 | CUSIP: 12668AA21<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    305598 | PA      | $271790.46    | 0.04%             | 2035-12-25      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| KAISER ALUMINUM CORP                                                  | Kaiser Aluminum Corp                                                             | CUSIP: 483007AL4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    331000 | PA      | $311977.56    | 0.04%             | 2031-06-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| LIFEPOINT HEALTH INC                                                  | LifePoint Health Inc 2024 Incremental Term Loan B1                               | CUSIP: 75915TAL6<br>LEI: 549300G8ZVHRTBBBSZ90 | Long             | LON              | CORP              | US        |     82582 | PA      | $82143.09     | 0.01%             | 2031-05-19      | Floating      | 7.66%                 | No            |                  2 | On Loan: No      |
| ITT HOLDINGS LLC                                                      | ITT Holdings LLC                                                                 | CUSIP: 45074JAA2<br>LEI: 549300TH2PHOLK31LB42 | Long             | DBT              | CORP              | US        |    391000 | PA      | $384405.63    | 0.05%             | 2029-08-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Cotiviti Corporation                                                  | Cotiviti Corporation 2024 Fixed Term Loan B                                      | CUSIP: 22164MAD9<br>LEI: 254900YAQHVRTG4IFI64 | Long             | LON              | CORP              | US        |   1555770 | PA      | $1560141.71   | 0.21%             | 2031-05-01      | Fixed         | 7.63%                 | No            |                  2 | On Loan: No      |
| CHEMOURS CO                                                           | Chemours Co/The                                                                  | CUSIP: 163851AJ7<br>LEI: 549300M1BOLNXL8DOV14 | Long             | DBT              | CORP              | US        |     94000 | PA      | $93498.45     | 0.01%             | 2033-01-15      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| ADLER FINANCING SARL                                                  | Adler Financing Sarl                                                             | CUSIP: 000000000<br>LEI: 213800BAQB59IVKP7S93 | Long             | DBT              | CORP              | LU        |     25023 | PA      | $31270.91     | 0.00%             | 2028-12-31      | Fixed         | 8.25%                 | No            |                  2 | On Loan: No      |
| Foundation Building Materials Holding Company LLC                     | Foundation Building Materials Holding Company LLC 2025 Term Loan                 | CUSIP: 35039KAE6<br>LEI: 549300ZVE6MONHB01I28 | Long             | LON              | CORP              | US        |     44090 | PA      | $44262.77     | 0.01%             | 2031-01-29      | Floating      | 11.50%                | No            |                  2 | On Loan: No      |
| Fannie Mae                                                            | Fannie Mae Pool                                                                  | CUSIP: 3140FXCQ3<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    767877 | PA      | $725400.74    | 0.10%             | 2056-04-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Tenneco Inc                                                           | Tenneco Inc 2022 Term Loan B                                                     | CUSIP: 88037HAP9<br>LEI: 549300U0EXXFAQFAD785 | Long             | LON              | CORP              | US        |     91987 | PA      | $89888.78     | 0.01%             | 2028-11-17      | Floating      | 9.30%                 | No            |                  2 | On Loan: No      |
| SPRINGS WINDOWS FASHIONS LLC                                          | Springs Windows Fashions LLC 2024 FLFO A1 Term Loan                              | CUSIP: 78489HAG3<br>LEI: 5493000CMZKPQ7BKPB20 | Long             | LON              | CORP              | US        |     27446 | PA      | $27480.47     | 0.00%             | 2029-12-19      | Floating      | 8.66%                 | No            |                  2 | On Loan: No      |
| CDP Financial Inc                                                     | CDP Financial Inc                                                                | CUSIP: 125094AC6<br>LEI: 549300OXMGVYFCBFV096 | Long             | DBT              | NUSS              | CA        |   5890000 | PA      | $6334845.08   | 0.87%             | 2039-11-25      | Fixed         | 5.60%                 | No            |                  2 | On Loan: No      |
| ASCENT RESOURCES/ARU FIN                                              | Ascent Resources Utica Holdings LLC / ARU Finance Corp                           | CUSIP: 04364VAK9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     91000 | PA      | $109941.65    | 0.02%             | 2027-11-01      | Fixed         | 9.00%                 | No            |                  2 | On Loan: No      |
| QXO BUILDING PRODUCTS                                                 | QXO Building Products Inc                                                        | CUSIP: 74825NAA5<br>LEI: 549300HDXQWWCBOYXP31 | Long             | DBT              | CORP              | US        |    593000 | PA      | $613989.94    | 0.08%             | 2032-04-30      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| Oracle Corp                                                           | Oracle Corp                                                                      | CUSIP: 68389XBX2<br>LEI: 1Z4GXXU7ZHVWFCD8TV52 | Long             | DBT              | CORP              | US        |    400000 | PA      | $281583.81    | 0.04%             | 2050-04-01      | Fixed         | 3.60%                 | No            |                  2 | On Loan: No      |
| DIRECTV FIN LLC/COINC                                                 | Directv Financing LLC / Directv Financing Co-Obligor Inc                         | CUSIP: 25461LAA0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    332000 | PA      | $331627.50    | 0.05%             | 2027-08-15      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| RAKUTEN GROUP INC                                                     | Rakuten Group Inc                                                                | CUSIP: 75102WAK4<br>LEI: 529900IMXUCQKUL1H943 | Long             | DBT              | CORP              | JP        |    200000 | PA      | $224892.96    | 0.03%             | 2029-04-15      | Fixed         | 9.75%                 | No            |                  2 | On Loan: No      |
| Intercontinental Exchange, Inc.                                       | SWAP/CDSWAP/ICE: (CDX.NA.HY.45.V1)                                               | CUSIP: 000000000<br>LEI: 5493000F4ZO33MV32P92 | N/A              | DCR              |  | US        |   7800000 | OU      | $-613100.57   | -0.08%            |  |  |  | No            |                  2 | On Loan: No      |
| CHARTER COMM OPT LLC/CAP                                              | Charter Communications Operating LLC / Charter Communications Operating Capital  | CUSIP: 161175BN3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1100000 | PA      | $997122.31    | 0.14%             | 2048-04-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| WELLS FARGO & COMPANY                                                 | Wells Fargo & Co                                                                 | CUSIP: 95000U3W1<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | DBT              | CORP              | US        |   2000000 | PA      | $2062601.92   | 0.28%             | 2031-04-23      | Fixed         | 5.15%                 | No            |                  2 | On Loan: No      |
| EOG Resources Inc                                                     | EOG Resources Inc                                                                | CUSIP: 26875PAQ4<br>LEI: XWTZDRYZPBUHIQBKDB46 | Long             | DBT              | CORP              | US        |    200000 | PA      | $201836.44    | 0.03%             | 2036-01-15      | Fixed         | 5.10%                 | No            |                  2 | On Loan: No      |
| Navient Student Loan Trust                                            | Navient Private Education Refi Loan Trust 2021-C                                 | CUSIP: 63942JAA5<br>LEI: 549300ZUZB9UCBWEBN39 | Long             | ABS-O            | CORP              | US        |    559013 | PA      | $509687.06    | 0.07%             | 2069-10-15      | Fixed         | 1.06%                 | No            |                  2 | On Loan: No      |
| LIGHT & WONDER INTL INC                                               | Light & Wonder International Inc                                                 | CUSIP: 531968AB1<br>LEI: RLTHESQ0RNFQJWPBJN60 | Long             | DBT              | CORP              | US        |    146000 | PA      | $146248.20    | 0.02%             | 2033-10-01      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| TRANSOCEAN INC                                                        | Transocean International Ltd                                                     | CUSIP: 893830BY4<br>LEI: DOL4HJ22ADYSIWES4H94 | Long             | DBT              | CORP              | BM        |     75000 | PA      | $73939.97     | 0.01%             | 2029-05-15      | Fixed         | 8.25%                 | No            |                  2 | On Loan: No      |
| WALT DISNEY COMPANY/THE                                               | Walt Disney Co/The                                                               | CUSIP: 254687EZ5<br>LEI: 549300GZKULIZ0WOW665 | Long             | DBT              | CORP              | US        |    500000 | PA      | $652870.62    | 0.09%             | 2045-12-01      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| New York City Municipal Water Finance Authority                       | NEW YORK CITY NY MUNI WTR FIN AUTH WTR & SWR SYS REVENUE                         | CUSIP: 64972FL20<br>LEI: 549300Q2EHQ6RJPQKP05 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1054465.64   | 0.14%             | 2042-06-15      | Fixed         | 6.01%                 | No            |                  2 | On Loan: No      |
| NATIONSTAR MTG HLD INC                                                | Nationstar Mortgage Holdings Inc                                                 | CUSIP: 63861CAE9<br>LEI: 549300DQF6YN0E43PM71 | Long             | DBT              | CORP              | US        |     71000 | PA      | $71745.71     | 0.01%             | 2031-11-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| STATION CASINOS LLC                                                   | Station Casinos LLC                                                              | CUSIP: 857691AJ8<br>LEI: 5493004E7Q60TX54WL62 | Long             | DBT              | CORP              | US        |    100000 | PA      | $102724.40    | 0.01%             | 2032-03-15      | Fixed         | 6.63%                 | No            |                  2 | On Loan: No      |
| QUALCOMM Inc                                                          | QUALCOMM Inc                                                                     | CUSIP: 747525AV5<br>LEI: H1J8DDZKZP6H7RWC0H53 | Long             | DBT              | CORP              | US        |    700000 | PA      | $599691.23    | 0.08%             | 2047-05-20      | Fixed         | 4.30%                 | No            |                  2 | On Loan: No      |
| Greensky Home Improvement Issuer Trust                                | GreenSky Home Improvement Issuer Trust 2024-2                                    | CUSIP: 39571XAF1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    100000 | PA      | $101008.17    | 0.01%             | 2059-10-27      | Fixed         | 5.55%                 | No            |                  2 | On Loan: No      |
| DELEK LOG PART/FINANCE                                                | Delek Logistics Partners LP / Delek Logistics Finance Corp                       | CUSIP: 24665FAE2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    219000 | PA      | $222700.25    | 0.03%             | 2033-06-30      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| TRANSDIGM INC                                                         | TransDigm Inc                                                                    | CUSIP: 893647BV8<br>LEI: 88Q84GB3X55CF5OC7582 | Long             | DBT              | CORP              | US        |   1223000 | PA      | $1259133.54   | 0.17%             | 2032-03-01      | Fixed         | 6.63%                 | No            |                  2 | On Loan: No      |
| NEWELL BRANDS INC                                                     | Newell Brands Inc                                                                | CUSIP: 651229BG0<br>LEI: 549300LWGYFM1TVO1Z12 | Long             | DBT              | CORP              | US        |    106000 | PA      | $112120.02    | 0.02%             | 2028-06-01      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| Mitchell International, Inc.                                          | Mitchell International Inc 2024 1st Lien Term Loan                               | CUSIP: 60662WAW2<br>LEI: 5493002RDNIGEM7SSV41 | Long             | LON              | CORP              | US        |     96713 | PA      | $96568.79     | 0.01%             | 2031-06-17      | Floating      | 7.41%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                              | Government National Mortgage Association                                         | CUSIP: 38383CS84<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |  12656745 | PA      | $2637808.59   | 0.36%             | 2047-09-20      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF PARAGUAY                                                  | Paraguay Government International Bond                                           | CUSIP: 000000000<br>LEI: 529900UXKJTJPCU0HK83 | Long             | DBT              | NUSS              | PY        |    200000 | PA      | $176800.00    | 0.02%             | 2033-01-29      | Fixed         | 2.74%                 | No            |                  2 | On Loan: No      |
| EMPIRE COMMUNITIES CORP                                               | Empire Communities Corp                                                          | CUSIP: 29163VAG8<br>LEI: 549300JM1L6KK2QFP273 | Long             | DBT              | CORP              | CA        |     28000 | PA      | $29358.56     | 0.00%             | 2029-05-01      | Fixed         | 9.75%                 | No            |                  2 | On Loan: No      |
| Morgan Stanley & Co. International PLC                                | PURCHASED USD / SOLD EUR                                                         | CUSIP: 000000000<br>LEI: 4PQUHN3JPFGFNF3BB653 | N/A              | DFE              |  | US        |         1 | NC      | $23955.42     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Warwick Capital CLO Ltd                                               | Warwick Capital CLO 5 Ltd                                                        | CUSIP: 93656FAA6<br>LEI: 254900WYTOTUQQSCN403 | Long             | ABS-CBDO         | CORP              | KY        |    750000 | PA      | $752566.43    | 0.10%             | 2038-01-20      | Floating      | 5.69%                 | No            |                  2 | On Loan: No      |
| BOFA SECURITIES INC                                                   | RRP CLEAR CHANN                                                                  | CUSIP: 000000000<br>LEI: 549300HN4UKV1E2R3U73 | Short            | RA               | CORP              | US        |   -311330 | PA      | $-311330.00   | -0.04%            |  |  |  | No            |                  2 | On Loan: No      |
| CONSTELLIUM SE                                                        | Constellium SE                                                                   | CUSIP: 21039CAD6<br>LEI: 724500KRJEMC79KAAU28 | Long             | DBT              | CORP              | FR        |    250000 | PA      | $255549.75    | 0.03%             | 2032-08-15      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| VERIZON COMMUNICATIONS                                                | Verizon Communications Inc                                                       | CUSIP: 92343VBG8<br>LEI: 2S72QS2UO2OESLG6Y829 | Long             | DBT              | CORP              | US        |   5000000 | PA      | $4056830.30   | 0.55%             | 2042-11-01      | Fixed         | 3.85%                 | No            |                  2 | On Loan: No      |
| OLYMPUS WTR US HLDG CORP                                              | Olympus Water US Holding Corp                                                    | CUSIP: 000000000<br>LEI: 549300YU2GGVCBN3MY89 | Long             | DBT              | CORP              | US        |    100000 | PA      | $123136.71    | 0.02%             | 2028-11-15      | Fixed         | 9.63%                 | No            |                  2 | On Loan: No      |
| BEACH ACQUISITION BIDCO LLC                                           | BEACH ACQUISITION BIDCO LLC USD TERM LOAN B                                      | CUSIP: 07337FAB1<br>LEI: 254900F2FNX3GBTB6202 | Long             | LON              | CORP              | US        |     67000 | PA      | $67279.39     | 0.01%             | 2032-09-12      | Floating      | 7.31%                 | No            |                  2 | On Loan: No      |
| UBS AG STAMFORD CT                                                    | UBS AG/Stamford CT                                                               | CUSIP: 22550L2K6<br>LEI: 254900R882POXXVAK772 | Long             | DBT              | CORP              | CH        |    900000 | PA      | $915144.53    | 0.13%             | 2027-07-09      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| BX Trust                                                              | BX Commercial Mortgage Trust 2021-SOAR                                           | CUSIP: 05608WAA2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1481687 | PA      | $1480760.85   | 0.20%             | 2038-06-15      | Floating      | 4.94%                 | No            |                  2 | On Loan: No      |
| CRESCENT ENERGY FINANCE                                               | Crescent Energy Finance LLC                                                      | CUSIP: 45344LAD5<br>LEI: 54930061FUL6DBLFUW14 | Long             | DBT              | CORP              | US        |    210000 | PA      | $208549.57    | 0.03%             | 2032-04-01      | Fixed         | 7.63%                 | No            |                  2 | On Loan: No      |
| TCI-Symphony CLO                                                      | TCI-Symphony CLO 2017-1 Ltd                                                      | CUSIP: 87232BAF9<br>LEI: 5493005WLG3H3B8NI222 | Long             | ABS-CBDO         | CORP              | KY        |    183519 | PA      | $183754.39    | 0.03%             | 2030-07-15      | Floating      | 5.51%                 | No            |                  2 | On Loan: No      |
| JPMORGAN CHASE & CO                                                   | JPMorgan Chase & Co                                                              | CUSIP: 46647PEJ1<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | DBT              | CORP              | US        |   3000000 | PA      | $3077230.08   | 0.42%             | 2030-07-22      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MAYA SAS/FRANCE                                                       | Maya SAS/Paris France                                                            | CUSIP: 449691AF1<br>LEI: 9695009PXA7OI9NXN582 | Long             | DBT              | CORP              | FR        |    200000 | PA      | $214498.60    | 0.03%             | 2031-04-15      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| Zayo Group Holdings Inc                                               | Zayo Group Holdings Inc USD Term Loan                                            | CUSIP: 98919XAB7<br>LEI: 529900Z6OTS7RT0V0I47 | Long             | LON              | CORP              | US        |    548093 | PA      | $539531.87    | 0.07%             | 2027-03-09      | Floating      | 7.25%                 | No            |                  2 | On Loan: No      |
| BNP PARIBAS SA                                                        | RRP PNC FINANCI                                                                  | CUSIP: 000000000<br>LEI: R0MUWSFPU8MPRO8K5P83 | Short            | RA               | CORP              | US        |  -1178205 | PA      | $-1178205.00  | -0.16%            |  |  |  | No            |                  2 | On Loan: No      |
| WILLIAMS SCOTSMAN INC                                                 | Williams Scotsman Inc                                                            | CUSIP: 96949VAN3<br>LEI: 549300DAKDS8SCO1OT57 | Long             | DBT              | CORP              | US        |    163000 | PA      | $167770.20    | 0.02%             | 2030-04-15      | Fixed         | 6.63%                 | No            |                  2 | On Loan: No      |
| CITIGROUP INC                                                         | Citigroup Inc                                                                    | CUSIP: 17327CAV5<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |   2500000 | PA      | $2567517.50   | 0.35%             | 2030-02-15      | Fixed         | 6.95%                 | No            |                  2 | On Loan: No      |
| NEW ENTERPRISE STONE & L                                              | New Enterprise Stone & Lime Co Inc                                               | CUSIP: 644274AG7<br>LEI: 549300O5DQ5Y61B8VF38 | Long             | DBT              | CORP              | US        |     89000 | PA      | $89197.52     | 0.01%             | 2028-07-15      | Fixed         | 9.75%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                            | Fannie Mae Pool                                                                  | CUSIP: 31418EKR0<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    934242 | PA      | $854832.42    | 0.12%             | 2052-11-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Hilton USA Trust                                                      | Hilton USA Trust                                                                 | CUSIP: 432826AC9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    218000 | PA      | $218817.50    | 0.03%             | 2042-07-15      | Floating      | 6.34%                 | No            |                  2 | On Loan: No      |
| HOWDEN UK REFINANCE / US                                              | Howden UK Refinance PLC / Howden UK Refinance 2 PLC / Howden US Refinance LLC    | CUSIP: 44287DAA1<br>LEI: N/A                  | Long             | DBT              | CORP              | GB        |    586000 | PA      | $607973.83    | 0.08%             | 2032-02-15      | Fixed         | 8.13%                 | No            |                  2 | On Loan: No      |
| TURKCELL ILETISIM HIZMET                                              | Turkcell Iletisim Hizmetleri AS                                                  | CUSIP: 900111AD7<br>LEI: 7890003EX1LTLS2FFL84 | Long             | DBT              | CORP              | TR        |    200000 | PA      | $209000.00    | 0.03%             | 2032-01-24      | Fixed         | 7.65%                 | No            |                  2 | On Loan: No      |
| Onslow Bay Financial LLC                                              | OBX 2023-NQM6 Trust                                                              | CUSIP: 67117VAA8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    823652 | PA      | $830573.89    | 0.11%             | 2063-07-25      | Variable      | 6.52%                 | No            |                  2 | On Loan: No      |
| CONTOURGLOBAL POWER HLDG                                              | ContourGlobal Power Holdings SA                                                  | CUSIP: 21220LAB9<br>LEI: 549300O5AGIFK0PQ1516 | Long             | DBT              | CORP              | LU        |    200000 | PA      | $207748.00    | 0.03%             | 2030-02-28      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| MGM CHINA HOLDINGS LTD                                                | MGM China Holdings Ltd                                                           | CUSIP: 000000000<br>LEI: 529900VZFN87OS7WJM66 | Long             | DBT              | CORP              | KY        |    450000 | PA      | $449721.00    | 0.06%             | 2026-05-15      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                            | Fannie Mae Pool                                                                  | CUSIP: 31418ESQ4<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    982083 | PA      | $897587.61    | 0.12%             | 2053-04-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| BAUSCH + LOMB CORP                                                    | Bausch + Lomb Corp                                                               | CUSIP: 071705AA5<br>LEI: 549300NY6OZM39SO6475 | Long             | DBT              | CORP              | CA        |    958000 | PA      | $998415.63    | 0.14%             | 2028-10-01      | Fixed         | 8.38%                 | No            |                  2 | On Loan: No      |
| FTAI AVIATION INVESTORS                                               | FTAI Aviation Investors LLC                                                      | CUSIP: 34960PAF8<br>LEI: 529900E7PUVK6BC8PE80 | Long             | DBT              | CORP              | US        |    185000 | PA      | $193520.73    | 0.03%             | 2031-05-01      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| GREAT CAN GAMING/RAPTOR                                               | Great Canadian Gaming Corp/Raptor LLC                                            | CUSIP: 389925AA6<br>LEI: 549300FU60SSFLTE0M84 | Long             | DBT              | CORP              | XX        |    215000 | PA      | $212599.78    | 0.03%             | 2029-11-15      | Fixed         | 8.75%                 | No            |                  2 | On Loan: No      |
| COREWEAVE INC                                                         | CoreWeave Inc                                                                    | CUSIP: 21873SAB4<br>LEI: 984500511DP2B6186053 | Long             | DBT              | CORP              | US        |    233000 | PA      | $240641.00    | 0.03%             | 2030-06-01      | Fixed         | 9.25%                 | No            |                  2 | On Loan: No      |
| GRAN TIERRA ENERGY INC                                                | Gran Tierra Energy Inc                                                           | CUSIP: 38500TAC5<br>LEI: 549300IH2S17MAIUCM32 | Long             | DBT              | CORP              | US        |    200000 | PA      | $168500.00    | 0.02%             | 2029-10-15      | Fixed         | 9.50%                 | No            |                  2 | On Loan: No      |
| EOC Borrower LLC                                                      | EOC Borrower LLC Term Loan B                                                     | CUSIP: 26875YAB8<br>LEI: N/A                  | Long             | LON              | CORP              | US        |     79661 | PA      | $79620.95     | 0.01%             | 2032-03-24      | Floating      | 7.16%                 | No            |                  2 | On Loan: No      |
| CARNIVAL CORP                                                         | Carnival Corp                                                                    | CUSIP: 143658CA8<br>LEI: F1OF2ZSX47CR0BCWA982 | Long             | DBT              | CORP              | PA        |    311000 | PA      | $316497.86    | 0.04%             | 2032-08-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Gainwell Acquisition Corp                                             | Gainwell Acquisition Corp Term Loan B                                            | CUSIP: 59909TAC8<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    279277 | PA      | $274459.09    | 0.04%             | 2027-10-01      | Floating      | 8.10%                 | No            |                  2 | On Loan: No      |
| ALEXANDRIA REAL ESTATE E                                              | Alexandria Real Estate Equities Inc                                              | CUSIP: 015271BA6<br>LEI: MGCJBT4MKTQBVLNUIS88 | Long             | DBT              |  | US        |    140000 | PA      | $136725.02    | 0.02%             | 2035-04-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| A&D Mortgage Trust                                                    | A&D Mortgage Trust 2024-NQM5                                                     | CUSIP: 00039KAC4<br>LEI: 9845006Z1DC68561N347 | Long             | ABS-MBS          | CORP              | US        |   1351579 | PA      | $1360347.84   | 0.19%             | 2069-11-25      | Fixed         | 5.70%                 | No            |                  2 | On Loan: No      |
| Peru Government International Bonds                                   | Peru Government International Bonds                                              | CUSIP: 715638DF6<br>LEI: 254900STKLK2DBJJZ530 | Long             | DBT              | NUSS              | PE        |    151000 | PA      | $139259.75    | 0.02%             | 2031-01-23      | Fixed         | 2.78%                 | No            |                  2 | On Loan: No      |
| BNP PARIBAS SA                                                        | RRP MADISON IAQ                                                                  | CUSIP: 000000000<br>LEI: R0MUWSFPU8MPRO8K5P83 | Short            | RA               | CORP              | US        |   -207080 | PA      | $-207080.00   | -0.03%            |  |  |  | No            |                  2 | On Loan: No      |
| CHART INDUSTRIES INC                                                  | Chart Industries Inc                                                             | CUSIP: 16115QAG5<br>LEI: EM7QGKC1GYOF3LSZSL80 | Long             | DBT              | CORP              | US        |     61000 | PA      | $65352.78     | 0.01%             | 2031-01-01      | Fixed         | 9.50%                 | No            |                  2 | On Loan: No      |
| EG GLOBAL FINANCE PLC                                                 | EG Global Finance PLC                                                            | CUSIP: 28228PAC5<br>LEI: 549300TL8Q5207VYET27 | Long             | DBT              | CORP              | GB        |    209000 | PA      | $229556.40    | 0.03%             | 2028-11-30      | Fixed         | 12.00%                | No            |                  2 | On Loan: No      |
| UNITI GROUP/CSL CAPITAL                                               | Uniti Group LP / Uniti Group Finance 2019 Inc / CSL Capital LLC                  | CUSIP: 91327TAA9<br>LEI: N/A                  | Long             | DBT              |  | US        |   1146000 | PA      | $1206967.20   | 0.17%             | 2028-02-15      | Fixed         | 10.50%                | No            |                  2 | On Loan: No      |
| Fannie Mae                                                            | Fannie Mae Pool                                                                  | CUSIP: 31418EW55<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   3622760 | PA      | $3746835.36   | 0.51%             | 2053-10-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Carval CLO LTD                                                        | CarVal CLO VC Ltd                                                                | CUSIP: 14687MAG7<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    250000 | PA      | $250764.60    | 0.03%             | 2034-10-15      | Floating      | 7.83%                 | No            |                  2 | On Loan: No      |
| FedEx Corp                                                            | FedEx Corp                                                                       | CUSIP: 31428XBB1<br>LEI: 549300E707U7WNPZN687 | Long             | DBT              | CORP              | US        |   1250000 | PA      | $978431.33    | 0.13%             | 2045-02-01      | Fixed         | 4.10%                 | No            |                  2 | On Loan: No      |
| Great Canadian Gaming Corporation                                     | Great Canadian Gaming Corporation 2024 Term Loan B                               | CUSIP: 000000000<br>LEI: 549300FU60SSFLTE0M84 | Long             | LON              | CORP              | CA        |     57223 | PA      | $54970.24     | 0.01%             | 2029-11-01      | Floating      | 8.75%                 | No            |                  2 | On Loan: No      |
| COLT Funding LLC                                                      | COLT 2023-2 Mortgage Loan Trust                                                  | CUSIP: 12598UAA4<br>LEI: 213800IHRVKO9R6JZ883 | Long             | ABS-MBS          | CORP              | US        |    887297 | PA      | $894318.68    | 0.12%             | 2068-07-25      | Variable      | 6.60%                 | No            |                  2 | On Loan: No      |
| Bausch & Lomb Corporation                                             | Bausch & Lomb Corporation 2025 Term Loan B                                       | CUSIP: 000000000<br>LEI: 549300NY6OZM39SO6475 | Long             | LON              | CORP              | CA        |    242086 | PA      | $241884.63    | 0.03%             | 2031-01-15      | Floating      | 8.41%                 | No            |                  2 | On Loan: No      |
| TRANSOCEAN INC                                                        | Transocean International Ltd                                                     | CUSIP: 893830BL2<br>LEI: DOL4HJ22ADYSIWES4H94 | Long             | DBT              | CORP              | BM        |    309000 | PA      | $308570.38    | 0.04%             | 2027-02-01      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| IQVIA INC                                                             | IQVIA Inc                                                                        | CUSIP: 46266TAG3<br>LEI: 549300PLWY28YB00C717 | Long             | DBT              | CORP              | US        |    553000 | PA      | $568561.97    | 0.08%             | 2032-06-01      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| VIRGINIA ELEC & POWER CO                                              | Virginia Electric and Power Co                                                   | CUSIP: 927804FE9<br>LEI: CQKUMNNZVDJLRYV2PT43 | Long             | DBT              | CORP              | US        |   3920000 | PA      | $4314498.65   | 0.59%             | 2037-11-30      | Fixed         | 6.35%                 | No            |                  2 | On Loan: No      |
| COHERENT CORP                                                         | Coherent Corp                                                                    | CUSIP: 902104AC2<br>LEI: 549300O5C25A0MMHHU33 | Long             | DBT              | CORP              | US        |    121000 | PA      | $119330.67    | 0.02%             | 2029-12-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| WELLS FARGO SECURITIES LLC                                            | RRP GNMA2 30YR                                                                   | CUSIP: 000000000<br>LEI: VYVVCKR63DVZZN70PB21 | Short            | RA               | CORP              | US        |   -713074 | PA      | $-713074.48   | -0.10%            |  |  |  | No            |                  2 | On Loan: No      |
| SPIRIT AEROSYSTEMS INC                                                | Spirit AeroSystems Inc                                                           | CUSIP: 85205TAR1<br>LEI: ZD2NBKV6GCC3UMGBM518 | Long             | DBT              | CORP              | US        |    342000 | PA      | $376129.55    | 0.05%             | 2030-11-15      | Fixed         | 9.75%                 | No            |                  2 | On Loan: No      |
| Deutsche Bank AG                                                      | PURCHASED USD / SOLD EUR                                                         | CUSIP: 000000000<br>LEI: 7LTWFZYICNSX8D621K86 | N/A              | DFE              |  | US        |         1 | NC      | $106.65       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Kaman Corporation                                                     | Kaman Corporation 2025 Term Loan B                                               | CUSIP: 48354VAM4<br>LEI: 5493003YK076OLTEQF95 | Long             | LON              | CORP              | US        |     69783 | PA      | $69515.29     | 0.01%             | 2032-02-26      | Floating      | 6.95%                 | No            |                  2 | On Loan: No      |
| JW Commercial Mortgage Trust 2024-MRCO                                | JW Commercial Mortgage Trust 2024-MRCO                                           | CUSIP: 46657XAE6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    800000 | PA      | $801500.00    | 0.11%             | 2039-06-15      | Floating      | 6.54%                 | No            |                  2 | On Loan: No      |
| NISOURCE INC                                                          | NiSource Inc                                                                     | CUSIP: 65473PAL9<br>LEI: 549300D8GOWWH0SJB189 | Long             | DBT              | CORP              | US        |    400000 | PA      | $347380.24    | 0.05%             | 2031-02-15      | Fixed         | 1.70%                 | No            |                  2 | On Loan: No      |
| PERRIGO FINANCE UNLIMITE                                              | Perrigo Finance Unlimited Co                                                     | CUSIP: 71429MAD7<br>LEI: 549300E86RB6YCTMRM83 | Long             | DBT              | CORP              | IE        |    127000 | PA      | $127851.53    | 0.02%             | 2032-09-30      | Fixed         | 6.13%                 | No            |                  2 | On Loan: No      |
| CALPINE CORP                                                          | Calpine Corp                                                                     | CUSIP: 131347CM6<br>LEI: 43R4VPJBXTU2O15HEF41 | Long             | DBT              | CORP              | US        |      4000 | PA      | $3983.13      | 0.00%             | 2028-02-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| WINDSTREAM SERVICES LLC                                               | WINDSTREAM SERVICES LLC 2025 TERM LOAN B                                         | CUSIP: 000000000<br>LEI: 549300KT9GVEBYCD2N29 | Long             | LON              | CORP              | US        |    126000 | PA      | $124740.00    | 0.02%             | 2032-09-24      | Floating      | 8.14%                 | No            |                  3 | On Loan: No      |
| Churchill Downs Inc                                                   | Churchill Downs Inc                                                              | CUSIP: 171484AE8<br>LEI: 529900FODTBQC8MIS994 | Long             | DBT              | CORP              | US        |     35000 | PA      | $34533.45     | 0.00%             | 2028-01-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| Digicel International Finance Limited                                 | Digicel International Finance Limited 2025 Term Loan B                           | CUSIP: 000000000<br>LEI: 5493007V023VOEW4FK27 | Long             | LON              | CORP              | BM        |    168000 | PA      | $167790.00    | 0.02%             | 2032-08-06      | Floating      | 9.49%                 | No            |                  2 | On Loan: No      |
| OCADO GROUP PLC                                                       | Ocado Group PLC                                                                  | CUSIP: 000000000<br>LEI: 213800LO8F61YB8MBC74 | Long             | DBT              | CORP              | GB        |    100000 | PA      | $135121.73    | 0.02%             | 2030-06-15      | Fixed         | 11.00%                | No            |                  2 | On Loan: No      |
| XPLR INFRAST OPERATING                                                | XPLR Infrastructure Operating Partners LP                                        | CUSIP: 65342QAL6<br>LEI: 549300KJEC5IUVJWR786 | Long             | DBT              | CORP              | US        |     41000 | PA      | $40411.47     | 0.01%             | 2026-10-15      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| BX Trust                                                              | BX Commercial Mortgage Trust 2021-XL2                                            | CUSIP: 05609KAA7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    133289 | PA      | $133206.13    | 0.02%             | 2038-10-15      | Floating      | 4.95%                 | No            |                  2 | On Loan: No      |
| GENERAL MOTORS FINL CO                                                | General Motors Financial Co Inc                                                  | CUSIP: 37045XDB9<br>LEI: 5493008B6JBRUJ90QL97 | Long             | DBT              | CORP              | US        |   2500000 | PA      | $2488950.00   | 0.34%             | 2030-09-30      | Fixed         | 5.70%                 | No            |                  2 | On Loan: No      |
| ALLIANT HOLD / CO-ISSUER                                              | Alliant Holdings Intermediate LLC / Alliant Holdings Co-Issuer                   | CUSIP: 01883LAH6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    493000 | PA      | $508003.17    | 0.07%             | 2032-10-01      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| CENTERPOINT ENER HOUSTON                                              | CenterPoint Energy Houston Electric LLC                                          | CUSIP: 15189XAZ1<br>LEI: 549300S8SEQBOJLKHW63 | Long             | DBT              | CORP              | US        |    750000 | PA      | $745723.62    | 0.10%             | 2032-10-01      | Fixed         | 4.45%                 | No            |                  2 | On Loan: No      |
| SHIFT4 PAYMENTS INC                                                   | Shift4 Payments Inc                                                              | CUSIP: 82452JAB5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    112000 | PA      | $114912.00    | 0.02%             | 2025-12-15      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| RFC PRINCIPAL STRIP                                                   | Resolution Funding Corp Principal Strip                                          | CUSIP: 76116FAC1<br>LEI: N/A                  | Long             | DBT              | USGSE             | US        |   6055000 | PA      | $5066362.61   | 0.69%             | 2030-04-15      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| INSIGHT ENTERPRS                                                      | Insight Enterprises Inc                                                          | CUSIP: 45765UAC7<br>LEI: 529900S8991TYW6YP792 | Long             | DBT              | CORP              | US        |     78000 | PA      | $79973.40     | 0.01%             | 2032-05-15      | Fixed         | 6.63%                 | No            |                  2 | On Loan: No      |
| CITIGROUP GLOBAL MARKETS INC                                          | RRP TREASURY NO                                                                  | CUSIP: 000000000<br>LEI: MBNUM2BPBDO7JBLYG310 | Short            | RA               | CORP              | US        | -26390000 | PA      | $-26390000.00 | -3.61%            |  |  |  | No            |                  2 | On Loan: No      |
| WELLS FARGO SECURITIES LLC                                            | RRP FNMA 30YR                                                                    | CUSIP: 000000000<br>LEI: VYVVCKR63DVZZN70PB21 | Short            | RA               | CORP              | US        |   -187002 | PA      | $-187002.31   | -0.03%            |  |  |  | No            |                  2 | On Loan: No      |
| WINDSTREAM SERVICES LLC                                               | Windstream Services LLC 2024 Term Loan B                                         | CUSIP: 97381JAJ2<br>LEI: 549300KT9GVEBYCD2N29 | Long             | LON              | CORP              | US        |     65000 | PA      | $64837.50     | 0.01%             | 2031-10-01      | Floating      | 9.01%                 | No            |                  3 | On Loan: No      |
| OLYMPUS WTR US HLDG CORP                                              | Olympus Water US Holding Corp                                                    | CUSIP: 25259KAA8<br>LEI: 549300YU2GGVCBN3MY89 | Long             | DBT              | CORP              | US        |    363000 | PA      | $380968.50    | 0.05%             | 2028-11-15      | Fixed         | 9.75%                 | No            |                  2 | On Loan: No      |
| IRON MOUNTAIN INFO MGMT                                               | Iron Mountain Information Management Services Inc                                | CUSIP: 46285MAA8<br>LEI: N/A                  | Long             | DBT              |  | US        |     54000 | PA      | $52031.21     | 0.01%             | 2032-07-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Buckhorn Park CLO, Ltd.                                               | Buckhorn Park CLO Ltd                                                            | CUSIP: 118382BA7<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   2500000 | PA      | $2501251.50   | 0.34%             | 2034-07-18      | Floating      | 5.40%                 | No            |                  2 | On Loan: No      |
| FRONTIER COMMUNICATIONS                                               | Frontier Communications Holdings LLC                                             | CUSIP: 35908MAD2<br>LEI: 549300ZCZ76HYCS0H445 | Long             | DBT              | CORP              | US        |   1093000 | PA      | $1141796.99   | 0.16%             | 2030-05-15      | Fixed         | 8.75%                 | No            |                  2 | On Loan: No      |
| AMERICAN WATER CAPITAL C                                              | American Water Capital Corp                                                      | CUSIP: 03040WBA2<br>LEI: 5IDHQUFVC8Q2KIBBFF06 | Long             | DBT              | CORP              | US        |   1350000 | PA      | $1347265.14   | 0.18%             | 2032-06-01      | Fixed         | 4.45%                 | No            |                  2 | On Loan: No      |
| BROOKFIELD PPTY REIT INC                                              | Brookfield Property REIT Inc / BPR Cumulus LLC / BPR Nimbus LLC / GGSI Sellco LL | CUSIP: 11284DAC9<br>LEI: N/A                  | Long             | DBT              |  | US        |    109000 | PA      | $107054.55    | 0.01%             | 2027-04-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| ESAB CORP                                                             | Esab Corp                                                                        | CUSIP: 29605JAA4<br>LEI: 549300ZNV0SWBXEIWT04 | Long             | DBT              | CORP              | US        |    145000 | PA      | $148958.94    | 0.02%             | 2029-04-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| ATLAS CC ACQUISITION CORP                                             | Atlas CC Acquisition Corp 2025 Second Out Term Loan B                            | CUSIP: 04921TAR5<br>LEI: 6HHLXIOGCDNZ4IRAIW26 | Long             | LON              | CORP              | US        |     85555 | PA      | $48739.91     | 0.01%             | 2029-05-25      | Floating      | 8.83%                 | No            |                  2 | On Loan: No      |
| ROCKETMTGE CO-ISSUER INC                                              | Rocket Mortgage LLC / Rocket Mortgage Co-Issuer Inc                              | CUSIP: 77313LAA1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    200000 | PA      | $195905.83    | 0.03%             | 2026-10-15      | Fixed         | 2.88%                 | No            |                  2 | On Loan: No      |
| GULFPORT ENERGY OP CORP                                               | Gulfport Energy Operating Corp                                                   | CUSIP: 402635AT3<br>LEI: 549300FJX18IDUFPHD40 | Long             | DBT              | CORP              | US        |     99000 | PA      | $101593.16    | 0.01%             | 2029-09-01      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| NAVIENT CORP                                                          | Navient Corp                                                                     | CUSIP: 63938CAQ1<br>LEI: 54930067J0ZNOEBRW338 | Long             | DBT              | CORP              | US        |    189000 | PA      | $198876.76    | 0.03%             | 2032-06-15      | Fixed         | 7.88%                 | No            |                  2 | On Loan: No      |
| RHP HOTEL PPTY/RHP FINAN                                              | RHP Hotel Properties LP / RHP Finance Corp                                       | CUSIP: 749571AJ4<br>LEI: N/A                  | Long             | DBT              |  | US        |     72000 | PA      | $74276.64     | 0.01%             | 2028-07-15      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| GARDA WORLD SECURITY                                                  | Garda World Security Corp                                                        | CUSIP: 36485MAL3<br>LEI: 549300ZF1NDXLMCHNO20 | Long             | DBT              | CORP              | CA        |     34000 | PA      | $33708.42     | 0.00%             | 2029-06-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| OLYMPUS WATER US HOLDING CORP                                         | OLYMPUS WATER US HOLDING CORP 2025 USD TERM LOAN B                               | CUSIP: 68163YAK1<br>LEI: 549300YU2GGVCBN3MY89 | Long             | LON              | CORP              | US        |    123000 | PA      | $121990.17    | 0.02%             | 2032-07-23      | Floating      | 7.39%                 | No            |                  2 | On Loan: No      |
| ROCKIES EXPRESS PIPELINE                                              | Rockies Express Pipeline LLC                                                     | CUSIP: 77340RAR8<br>LEI: W2ZGZGZKY5GGNY6F3V51 | Long             | DBT              | CORP              | US        |     36000 | PA      | $35707.97     | 0.00%             | 2029-07-15      | Fixed         | 4.95%                 | No            |                  2 | On Loan: No      |
| TWILIO INC                                                            | Twilio Inc                                                                       | CUSIP: 90138FAD4<br>LEI: 5493004W8TRGD63APX93 | Long             | DBT              | CORP              | US        |     73000 | PA      | $68639.89     | 0.01%             | 2031-03-15      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| Countrywide Alternative Loan Trust                                    | Alternative Loan Trust 2007-OA10                                                 | CUSIP: 02149QAD2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   3511769 | PA      | $508888.02    | 0.07%             | 2047-09-25      | Floating      | 4.77%                 | No            |                  2 | On Loan: No      |
| CLYDESDALE ACQUISITION                                                | Clydesdale Acquisition Holdings Inc                                              | CUSIP: 18972EAC9<br>LEI: 254900QKSDYFR3K5YD98 | Long             | DBT              | CORP              | US        |    157000 | PA      | $161052.04    | 0.02%             | 2030-01-15      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| ROGERS COMMUNICATIONS IN                                              | Rogers Communications Inc                                                        | CUSIP: 775109AL5<br>LEI: 5493000M6Z4XFIP6PF03 | Long             | DBT              | CORP              | CA        |   2325000 | PA      | $2713130.04   | 0.37%             | 2038-08-15      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| LAMAR MEDIA CORP                                                      | Lamar Media Corp                                                                 | CUSIP: 513075BT7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     21000 | PA      | $20104.06     | 0.00%             | 2030-02-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| DAVITA INC                                                            | DaVita Inc                                                                       | CUSIP: 23918KAY4<br>LEI: M2XHYMU3TZNEZURC6H66 | Long             | DBT              | CORP              | US        |    147000 | PA      | $151586.11    | 0.02%             | 2033-07-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| WELLS FARGO SECURITIES LLC                                            | RRP FHLMC 30YR                                                                   | CUSIP: 000000000<br>LEI: VYVVCKR63DVZZN70PB21 | Short            | RA               | CORP              | US        |   -321424 | PA      | $-321423.93   | -0.04%            |  |  |  | No            |                  2 | On Loan: No      |
| GRAY MEDIA INC                                                        | Gray Media Inc                                                                   | CUSIP: 389375AP1<br>LEI: 529900TM5726KDN7UU35 | Long             | DBT              | CORP              | US        |    302000 | PA      | $299267.72    | 0.04%             | 2033-08-15      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| CCO HLDGS LLC/CAP CORP                                                | CCO Holdings LLC / CCO Holdings Capital Corp                                     | CUSIP: 1248EPCD3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     62000 | PA      | $59493.15     | 0.01%             | 2030-03-01      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| US Bancorp                                                            | US Bancorp                                                                       | CUSIP: 902973AZ9<br>LEI: N1GZ7BBF3NP8GI976H15 | Long             | DBT              | CORP              | US        |   1900000 | PA      | $1894380.94   | 0.26%             | 2027-04-15      | Fixed         | 5.30%                 | No            |                  2 | On Loan: No      |
| AMNEAL PHARMACEUTICALS LLC                                            | Amneal Pharmaceuticals LLC 2025 Term Loan B                                      | CUSIP: 03167DAR5<br>LEI: 54930037VIXE7LRZ1M66 | Long             | LON              | CORP              | US        |    223000 | PA      | $222627.59    | 0.03%             | 2032-08-01      | Floating      | 7.66%                 | No            |                  2 | On Loan: No      |
| ONEMAIN FINANCE CORP                                                  | OneMain Finance Corp                                                             | CUSIP: 682691AE0<br>LEI: 5493008I795YYBFWFU90 | Long             | DBT              | CORP              | US        |    188000 | PA      | $198933.14    | 0.03%             | 2030-03-15      | Fixed         | 7.88%                 | No            |                  2 | On Loan: No      |
| SMYRNA READY MIX CONCRET                                              | Smyrna Ready Mix Concrete LLC                                                    | CUSIP: 83283WAE3<br>LEI: 549300S7RFWHQFOIOY93 | Long             | DBT              | CORP              | US        |    126000 | PA      | $133048.79    | 0.02%             | 2031-11-15      | Fixed         | 8.88%                 | No            |                  2 | On Loan: No      |
| City of Los Angeles CA                                                | LOS ANGELES CA                                                                   | CUSIP: 544351RH4<br>LEI: 549300E7TO710PTXPJ65 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $1956683.50   | 0.27%             | 2042-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| TELECOM ITALIA CAPITAL                                                | Telecom Italia Capital SA                                                        | CUSIP: 87927VAV0<br>LEI: 549300777DJZOR5C4L39 | Long             | DBT              | CORP              | LU        |    201000 | PA      | $222666.23    | 0.03%             | 2038-06-04      | Fixed         | 7.72%                 | No            |                  2 | On Loan: No      |
| WOM MOBILE SA                                                         | WOM Mobile SA                                                                    | CUSIP: 97810LAA7<br>LEI: 549300T600VUO0QJ3063 | Long             | DBT              | CORP              | CL        |      9799 | PA      | $9398.22      | 0.00%             | 2031-04-01      | Fixed         | 11.00%                | No            |                  2 | On Loan: No      |
| BNP PARIBAS SA                                                        | RRP BANK OF AME                                                                  | CUSIP: 000000000<br>LEI: R0MUWSFPU8MPRO8K5P83 | Short            | RA               | CORP              | US        |  -3065440 | PA      | $-3065440.00  | -0.42%            |  |  |  | No            |                  2 | On Loan: No      |
| Freddie Mac                                                           | Freddie Mac Pool                                                                 | CUSIP: 3133WJ5E5<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    204858 | PA      | $205557.13    | 0.03%             | 2037-09-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| FRONTIER COMMUNICATIONS                                               | Frontier Communications Holdings LLC                                             | CUSIP: 35908MAE0<br>LEI: 549300ZCZ76HYCS0H445 | Long             | DBT              | CORP              | US        |    198000 | PA      | $208743.68    | 0.03%             | 2031-03-15      | Fixed         | 8.63%                 | No            |                  2 | On Loan: No      |
| Turkiye Government International Bonds                                | Turkiye Government International Bonds                                           | CUSIP: 900123DP2<br>LEI: 5493000PCHOG3B6S3Q85 | Long             | DBT              | NUSS              | TR        |    200000 | PA      | $206750.00    | 0.03%             | 2032-02-12      | Fixed         | 7.13%                 | No            |                  2 | On Loan: No      |
| Marathon Petroleum Corp                                               | Marathon Petroleum Corp                                                          | CUSIP: 56585AAF9<br>LEI: 3BNYRYQHD39K4LCKQF12 | Long             | DBT              | CORP              | US        |   1150000 | PA      | $1239596.26   | 0.17%             | 2041-03-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| CIFC Funding Ltd                                                      | CIFC Funding 2017-I Ltd                                                          | CUSIP: 17181PAG4<br>LEI: 549300X1SKS4LNS5LQ62 | Long             | ABS-CBDO         | CORP              | KY        |   1000000 | PA      | $1007068.30   | 0.14%             | 2037-04-21      | Floating      | 6.78%                 | No            |                  2 | On Loan: No      |
| US ACUTE CARE SOLUTIONS                                               | US Acute Care Solutions LLC                                                      | CUSIP: 90367UAD3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    162000 | PA      | $165885.14    | 0.02%             | 2029-05-15      | Fixed         | 9.75%                 | No            |                  2 | On Loan: No      |
| WELLS FARGO SECURITIES LLC                                            | RRP FHLMC 15YR                                                                   | CUSIP: 000000000<br>LEI: VYVVCKR63DVZZN70PB21 | Short            | RA               | CORP              | US        |   -199495 | PA      | $-199494.94   | -0.03%            |  |  |  | No            |                  2 | On Loan: No      |
| L3HARRIS TECH INC                                                     | L3Harris Technologies Inc                                                        | CUSIP: 502431AF6<br>LEI: 549300UTE50ZMDBG8A20 | Long             | DBT              | CORP              | US        |   1200000 | PA      | $1138213.30   | 0.16%             | 2029-12-15      | Fixed         | 2.90%                 | No            |                  2 | On Loan: No      |
| COMM Mortgage Trust                                                   | COMM 2025-SBX Mortgage Trust                                                     | CUSIP: 20047UAC0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    722000 | PA      | $725429.07    | 0.10%             | 2041-08-10      | Variable      | 5.73%                 | No            |                  2 | On Loan: No      |
| DK Trust                                                              | DK Trust 2025-LXP                                                                | CUSIP: 23292LAE2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    236000 | PA      | $236221.25    | 0.03%             | 2037-08-15      | Floating      | 6.39%                 | No            |                  2 | On Loan: No      |
| XHR LP                                                                | XHR LP                                                                           | CUSIP: 98372MAE5<br>LEI: 549300M88BPT83ZL2164 | Long             | DBT              |  | US        |     64000 | PA      | $65758.27     | 0.01%             | 2030-05-15      | Fixed         | 6.63%                 | No            |                  2 | On Loan: No      |
| USA COM PART/USA COM FIN                                              | USA Compression Partners LP / USA Compression Finance Corp                       | CUSIP: 91740PAG3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    134000 | PA      | $138197.42    | 0.02%             | 2029-03-15      | Fixed         | 7.13%                 | No            |                  2 | On Loan: No      |
| SCIENCE APPLICATIONS INT                                              | Science Applications International Corp                                          | CUSIP: 808625AB3<br>LEI: 549300LZPNZIXQGZPZ48 | Long             | DBT              | CORP              | US        |    141000 | PA      | $141043.79    | 0.02%             | 2033-11-01      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| United States Treasury                                                | U.S. Treasury Bonds                                                              | CUSIP: 912810RP5<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  54500000 | PA      | $42201308.73  | 5.77%             | 2045-11-15      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Apple Inc                                                             | Apple Inc                                                                        | CUSIP: 037833BH2<br>LEI: HWUPKR0MPOU8FGXBT394 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $904600.53    | 0.12%             | 2045-05-13      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| MEDLINE BORROWER/MEDL CO                                              | Medline Borrower LP/Medline Co-Issuer Inc                                        | CUSIP: 58506DAA6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    334000 | PA      | $342485.16    | 0.05%             | 2029-04-01      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| CITGO PETROLEUM CORP                                                  | CITGO Petroleum Corp                                                             | CUSIP: 17302XAN6<br>LEI: YX52P86PXMLYDOTUQ225 | Long             | DBT              | CORP              | US        |    322000 | PA      | $334619.82    | 0.05%             | 2029-01-15      | Fixed         | 8.38%                 | No            |                  2 | On Loan: No      |
| SABINE PASS LIQUEFACTION                                              | Sabine Pass Liquefaction LLC                                                     | CUSIP: 785592AS5<br>LEI: 549300KJYBG7C6WJYZ11 | Long             | DBT              | CORP              | US        |   1750000 | PA      | $1760581.90   | 0.24%             | 2027-03-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Minejesa Capital BV                                                   | Minejesa Capital BV                                                              | CUSIP: 602736AB6<br>LEI: 549300KS7ERCP10BKC35 | Long             | DBT              | CORP              | NL        |    200000 | PA      | $198800.00    | 0.03%             | 2037-08-10      | Fixed         | 5.63%                 | No            |                  2 | On Loan: No      |
| LEVEL 3 FINANCING INC                                                 | Level 3 Financing Inc                                                            | CUSIP: 527298CD3<br>LEI: 254900AE5FEFIJOXWL19 | Long             | DBT              | CORP              | US        |    281020 | PA      | $256782.03    | 0.04%             | 2030-04-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| BREAD FINANCIAL HLDGS                                                 | Bread Financial Holdings Inc                                                     | CUSIP: 018581AQ1<br>LEI: 549300G8S4PO686J7H97 | Long             | DBT              | CORP              | US        |     22000 | PA      | $22590.46     | 0.00%             | 2035-06-15      | Fixed         | 8.38%                 | No            |                  2 | On Loan: No      |
| ITELYUM REGENERATION SPA                                              | Itelyum Regeneration Spa                                                         | CUSIP: 000000000<br>LEI: 815600051FBC23AA8A45 | Long             | DBT              | CORP              | IT        |    100000 | PA      | $119447.14    | 0.02%             | 2030-04-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| CAESARS ENTERTAIN INC                                                 | Caesars Entertainment Inc                                                        | CUSIP: 12769GAB6<br>LEI: 549300FA4CTCW903Y781 | Long             | DBT              | CORP              | US        |    420000 | PA      | $432015.11    | 0.06%             | 2030-02-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| Carval CLO LTD                                                        | CarVal CLO II Ltd                                                                | CUSIP: 14686AAY5<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    384389 | PA      | $384576.65    | 0.05%             | 2032-04-20      | Floating      | 5.35%                 | No            |                  2 | On Loan: No      |
| JPMORGAN CHASE & CO                                                   | JPMorgan Chase & Co                                                              | CUSIP: 46647PDH6<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | DBT              | CORP              | US        |   1381000 | PA      | $1408215.24   | 0.19%             | 2033-07-25      | Fixed         | 4.91%                 | No            |                  2 | On Loan: No      |
| Oxea Holding Drei GmbH                                                | Oxea Holding Drei GmbH 2017 USD Term Loan B2                                     | CUSIP: 000000000<br>LEI: 529900MSP24R2FE9U796 | Long             | LON              | CORP              | US        |     17683 | PA      | $16238.54     | 0.00%             | 2031-04-08      | Floating      | 8.75%                 | No            |                  2 | On Loan: No      |
| CONSTELLIUM SE                                                        | Constellium SE                                                                   | CUSIP: 21039CAB0<br>LEI: 724500KRJEMC79KAAU28 | Long             | DBT              | CORP              | FR        |    591000 | PA      | $562326.81    | 0.08%             | 2029-04-15      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| CA MAGNUM HOLDINGS                                                    | CA Magnum Holdings                                                               | CUSIP: 12674CAA1<br>LEI: 549300ZRDHFR078MFZ78 | Long             | DBT              | CORP              | MU        |    278000 | PA      | $276644.75    | 0.04%             | 2026-10-31      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| ALLIANT HOLD / CO-ISSUER                                              | Alliant Holdings Intermediate LLC / Alliant Holdings Co-Issuer                   | CUSIP: 01883LAA1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    546000 | PA      | $547176.08    | 0.07%             | 2027-10-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| NAVIENT CORP                                                          | Navient Corp                                                                     | CUSIP: 63938CAN8<br>LEI: 54930067J0ZNOEBRW338 | Long             | DBT              | CORP              | US        |    100000 | PA      | $110526.90    | 0.02%             | 2030-07-25      | Fixed         | 9.38%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                           | Freddie Mac REMICS                                                               | CUSIP: 3137H0RH3<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |  13972530 | PA      | $2612900.83   | 0.36%             | 2051-06-25      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| JP MORGAN SECURITIES LLC                                              | RRP SURGERY CEN                                                                  | CUSIP: 000000000<br>LEI: ZBUT11V806EZRVTWT807 | Short            | RA               | CORP              | US        |   -268758 | PA      | $-268757.50   | -0.04%            |  |  |  | No            |                  2 | On Loan: No      |
| Jeld-Wen Inc                                                          | JELD-WEN Inc                                                                     | CUSIP: 475795AD2<br>LEI: 549300XWE6NM0N1HFW16 | Long             | DBT              | CORP              | US        |    121000 | PA      | $118078.71    | 0.02%             | 2027-12-15      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| LEVEL 3 FINANCING INC                                                 | Level 3 Financing Inc                                                            | CUSIP: 527298CH4<br>LEI: 254900AE5FEFIJOXWL19 | Long             | DBT              | CORP              | US        |     30928 | PA      | $26590.66     | 0.00%             | 2031-04-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| 1011778 BC / NEW RED FIN                                              | 1011778 BC ULC / New Red Finance Inc                                             | CUSIP: 68245XAH2<br>LEI: N/A                  | Long             | DBT              | CORP              | CA        |     39000 | PA      | $38065.90     | 0.01%             | 2028-01-15      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| Upgrade Master Pass-Thru Trust                                        | Upgrade Master Pass-Thru Trust Series 2025-ST4                                   | CUSIP: 91533MAA4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    187489 | PA      | $188280.64    | 0.03%             | 2032-08-16      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| PRIME HEALTHCARE SERVICE                                              | Prime Healthcare Services Inc                                                    | CUSIP: 74165HAC2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     63000 | PA      | $65520.00     | 0.01%             | 2029-09-01      | Fixed         | 9.38%                 | No            |                  2 | On Loan: No      |
| BP CAP MARKETS AMERICA                                                | BP Capital Markets America Inc                                                   | CUSIP: 10373QBT6<br>LEI: 5493009NTB34VXE1T760 | Long             | DBT              | CORP              | US        |    620000 | PA      | $562235.39    | 0.08%             | 2032-01-12      | Fixed         | 2.72%                 | No            |                  2 | On Loan: No      |
| BOFA SECURITIES INC                                                   | RRP CLOUD SOFTW                                                                  | CUSIP: 000000000<br>LEI: 549300HN4UKV1E2R3U73 | Short            | RA               | CORP              | US        |   -724750 | PA      | $-724750.00   | -0.10%            |  |  |  | No            |                  2 | On Loan: No      |
| WYNN RESORTS FINANCE LLC                                              | Wynn Resorts Finance LLC / Wynn Resorts Capital Corp                             | CUSIP: 983133AA7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    116000 | PA      | $116178.87    | 0.02%             | 2029-10-01      | Fixed         | 5.13%                 | No            |                  2 | On Loan: No      |
| VALARIS LTD                                                           | Valaris Ltd                                                                      | CUSIP: 91889FAC5<br>LEI: N/A                  | Long             | DBT              | CORP              | BM        |    300000 | PA      | $311353.28    | 0.04%             | 2030-04-30      | Fixed         | 8.38%                 | No            |                  2 | On Loan: No      |
| CHAMBERLAIN GROUP INC                                                 | CHAMBERLAIN GROUP INC 2025 TERM LOAN B                                           | CUSIP: 15963CAE6<br>LEI: 25490092IFNOZBRVE539 | Long             | LON              | CORP              | US        |     25709 | PA      | $25719.58     | 0.00%             | 2032-09-08      | Floating      | 7.16%                 | No            |                  2 | On Loan: No      |
| NATWEST GROUP PLC                                                     | NatWest Group PLC                                                                | CUSIP: 639057AQ1<br>LEI: 2138005O9XJIJN4JPN90 | Long             | DBT              | CORP              | GB        |    225000 | PA      | $253294.88    | 0.03%             | 2033-11-10      | Fixed         | 8.13%                 | No            |                  2 | On Loan: No      |
| Standard Chartered PLC                                                | Standard Chartered PLC                                                           | CUSIP: 853254BK5<br>LEI: U4LOSYZ7YG4W3S5F2G91 | Long             | DBT              | CORP              | GB        |    500000 | PA      | $500885.00    | 0.07%             | 2033-03-15      | Fixed         | 4.87%                 | No            |                  2 | On Loan: No      |
| Onslow Bay Financial LLC                                              | OBX 2024-NQM17 Trust                                                             | CUSIP: 673911AC7<br>LEI: 254900HMH8TR6ZSMCB34 | Long             | ABS-MBS          | CORP              | US        |   1073702 | PA      | $1083065.11   | 0.15%             | 2064-11-25      | Variable      | 5.61%                 | No            |                  2 | On Loan: No      |
| PERMIAN RESOURC OPTG LLC                                              | Permian Resources Operating LLC                                                  | CUSIP: 19416MAB5<br>LEI: 5493004CTVUMQLRPOE23 | Long             | DBT              | CORP              | US        |    170000 | PA      | $170760.92    | 0.02%             | 2029-07-01      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| LIGHT & WONDER INTL INC                                               | Light & Wonder International Inc                                                 | CUSIP: 80874YBE9<br>LEI: RLTHESQ0RNFQJWPBJN60 | Long             | DBT              | CORP              | US        |     96000 | PA      | $98531.62     | 0.01%             | 2029-11-15      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| Palmer Square CLO Ltd                                                 | Palmer Square CLO 2020-3 Ltd                                                     | CUSIP: 69701RAY3<br>LEI: 549300IUW4WDDDVSMS20 | Long             | ABS-CBDO         | CORP              | JE        |    250000 | PA      | $250445.70    | 0.03%             | 2036-11-15      | Floating      | 5.86%                 | No            |                  2 | On Loan: No      |
| DIAMOND FRGN/DIAMOND FIN                                              | Diamond Foreign Asset Co / Diamond Finance LLC                                   | CUSIP: 25260WAD3<br>LEI: N/A                  | Long             | DBT              | CORP              | KY        |     89000 | PA      | $94312.05     | 0.01%             | 2030-10-01      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| BARCLAYS CAPITAL INC                                                  | RRP CDP FINANCI                                                                  | CUSIP: 000000000<br>LEI: AC28XWWI3WIBK2824319 | Short            | RA               | CORP              | US        |  -6074062 | PA      | $-6074062.50  | -0.83%            |  |  |  | No            |                  2 | On Loan: No      |
| Verus Securitization Trust                                            | Verus Securitization Trust 2023-5                                                | CUSIP: 924934AA0<br>LEI: 984500BADC7CFE3B0756 | Long             | ABS-MBS          | CORP              | US        |    763381 | PA      | $768467.16    | 0.11%             | 2068-06-25      | Variable      | 6.48%                 | No            |                  2 | On Loan: No      |
| BLOCK INC                                                             | Block Inc                                                                        | CUSIP: 852234AN3<br>LEI: 549300OHIIUWSTIZME52 | Long             | DBT              | CORP              | US        |    248000 | PA      | $244741.90    | 0.03%             | 2026-06-01      | Fixed         | 2.75%                 | No            |                  2 | On Loan: No      |
| ALTICE FINANCING SA                                                   | Altice Financing SA                                                              | CUSIP: 02154CAH6<br>LEI: 549300DIYGW8HVDF7Q17 | Long             | DBT              | CORP              | LU        |    200000 | PA      | $150500.00    | 0.02%             | 2029-08-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| VMED O2 UK FINAN                                                      | Vmed O2 UK Financing I PLC                                                       | CUSIP: 92858RAA8<br>LEI: 213800MRR46ECNGZ7L69 | Long             | DBT              | CORP              | GB        |    600000 | PA      | $556299.38    | 0.08%             | 2031-01-31      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| K HOVNANIAN ENTERPRISES                                               | K Hovnanian Enterprises Inc                                                      | CUSIP: 48251UAP3<br>LEI: 549300JJCQ0KAI7CJG32 | Long             | DBT              | CORP              | US        |    176000 | PA      | $180476.24    | 0.02%             | 2031-04-01      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| KODIAK GAS SERVICES LLC                                               | Kodiak Gas Services LLC                                                          | CUSIP: 50012LAC8<br>LEI: 549300ZQBRWEUOVOM131 | Long             | DBT              | CORP              | US        |    385000 | PA      | $399501.04    | 0.05%             | 2029-02-15      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| Greensky Home Improvement Issuer Trust                                | GreenSky Home Improvement Issuer Trust 2025-2                                    | CUSIP: 39571VAD0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    251661 | PA      | $253236.34    | 0.03%             | 2060-06-25      | Fixed         | 4.89%                 | No            |                  2 | On Loan: No      |
| BARCLAYS CAPITAL INC                                                  | RRP HSBC HOLDIN                                                                  | CUSIP: 000000000<br>LEI: AC28XWWI3WIBK2824319 | Short            | RA               | CORP              | US        |  -1059306 | PA      | $-1059305.60  | -0.14%            |  |  |  | No            |                  2 | On Loan: No      |
| WRANGLER HOLDCO CORP                                                  | Wrangler Holdco Corp                                                             | CUSIP: 37441QAA9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     45000 | PA      | $46921.46     | 0.01%             | 2032-04-01      | Fixed         | 6.63%                 | No            |                  2 | On Loan: No      |
| STAR PARENT INC                                                       | Star Parent Inc                                                                  | CUSIP: 855170AA4<br>LEI: 254900GRGCJYRMDRWT73 | Long             | DBT              | CORP              | US        |    346000 | PA      | $365788.78    | 0.05%             | 2030-10-01      | Fixed         | 9.00%                 | No            |                  2 | On Loan: No      |
| STAR HOLDING LLC                                                      | Star Holding LLC                                                                 | CUSIP: 85513AAA6<br>LEI: 254900BDGPE9N1WAKD59 | Long             | DBT              | CORP              | US        |    138000 | PA      | $136924.21    | 0.02%             | 2031-08-01      | Fixed         | 8.75%                 | No            |                  2 | On Loan: No      |
| ALLY FINANCIAL INC                                                    | Ally Financial Inc                                                               | CUSIP: 02005NBM1<br>LEI: 549300JBN1OSM8YNAI90 | Long             | DBT              | CORP              | US        |   2500000 | PA      | $2434818.98   | 0.33%             | 2026-05-15      | Fixed         | 4.70%                 | No            |                  2 | On Loan: No      |
| NRG ENERGY INC                                                        | NRG Energy Inc                                                                   | CUSIP: 629377DC3<br>LEI: 5E2UPK5SW04M13XY7I38 | Long             | DBT              | CORP              | US        |    362000 | PA      | $361630.52    | 0.05%             | 2034-01-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| PINNACLE BUYER LLC                                                    | PINNACLE BUYER LLC DELAYED DRAW TERM LOAN                                        | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |     13587 | PA      | $13604.26     | 0.00%             | 2032-09-10      | Floating      | 6.63%                 | No            |                  2 | On Loan: No      |
| WILLIAMS SCOTSMAN INC                                                 | Williams Scotsman Inc                                                            | CUSIP: 96949VAM5<br>LEI: 549300DAKDS8SCO1OT57 | Long             | DBT              | CORP              | US        |     19000 | PA      | $19434.25     | 0.00%             | 2029-06-15      | Fixed         | 6.63%                 | No            |                  2 | On Loan: No      |
| IHO VERWALTUNGS GMBH                                                  | IHO Verwaltungs GmbH                                                             | CUSIP: 000000000<br>LEI: 529900JL0HDVGZMUJF32 | Long             | DBT              | CORP              | DE        |    100000 | PA      | $127085.28    | 0.02%             | 2031-11-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| CRESCENT ENERGY FINANCE                                               | Crescent Energy Finance LLC                                                      | CUSIP: 45344LAE3<br>LEI: 54930061FUL6DBLFUW14 | Long             | DBT              | CORP              | US        |    356000 | PA      | $346624.57    | 0.05%             | 2033-01-15      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| DANA INC                                                              | Dana Inc                                                                         | CUSIP: 235825AJ5<br>LEI: KVWHW7YLZPFJM8QYNJ51 | Long             | DBT              | CORP              | US        |     70000 | PA      | $68926.27     | 0.01%             | 2032-02-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| BARCLAYS PLC                                                          | Barclays PLC                                                                     | CUSIP: 06738EBU8<br>LEI: 213800LBQA1Y9L22JB70 | Long             | DBT              | CORP              | GB        |   3000000 | PA      | $2933287.95   | 0.40%             | 2027-11-24      | Fixed         | 2.28%                 | No            |                  2 | On Loan: No      |
| UNION PACIFIC CORP                                                    | Union Pacific Corp                                                               | CUSIP: 907818FV5<br>LEI: 549300LMMRSZZCZ8CL11 | Long             | DBT              | CORP              | US        |    800000 | PA      | $551729.45    | 0.08%             | 2061-05-20      | Fixed         | 3.55%                 | No            |                  2 | On Loan: No      |
| MPT OPER PARTNERSP/FINL                                               | MPT Operating Partnership LP / MPT Finance Corp                                  | CUSIP: 55342UAQ7<br>LEI: N/A                  | Long             | DBT              |  | US        |    537000 | PA      | $570595.79    | 0.08%             | 2032-02-15      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF GABON                                                     | Gabon Government International Bond                                              | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | NUSS              | GA        |    200000 | PA      | $185062.00    | 0.03%             | 2029-02-18      | Fixed         | 9.50%                 | No            |                  2 | On Loan: No      |
| ONEMAIN FINANCE CORP                                                  | OneMain Finance Corp                                                             | CUSIP: 682691AL4<br>LEI: 5493008I795YYBFWFU90 | Long             | DBT              | CORP              | US        |    196000 | PA      | $198486.26    | 0.03%             | 2030-05-15      | Fixed         | 6.13%                 | No            |                  2 | On Loan: No      |
| EIRCOM FINANCE DAC                                                    | eircom Finance DAC                                                               | CUSIP: 000000000<br>LEI: 254900NA4DUH50UERM85 | Long             | DBT              | CORP              | IE        |    100000 | PA      | $120254.84    | 0.02%             | 2031-04-30      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| TRANSURBAN FINANCE CO                                                 | Transurban Finance Co Pty Ltd                                                    | CUSIP: 89400PAE3<br>LEI: 54930081LPJMUMEA6E57 | Long             | DBT              | CORP              | AU        |    580000 | PA      | $579373.44    | 0.08%             | 2026-02-02      | Fixed         | 4.13%                 | No            |                  2 | On Loan: No      |
| CHEMOURS CO                                                           | Chemours Co/The                                                                  | CUSIP: 163851AF5<br>LEI: 549300M1BOLNXL8DOV14 | Long             | DBT              | CORP              | US        |    387000 | PA      | $377470.01    | 0.05%             | 2028-11-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| BRINK'S CO/THE                                                        | Brink's Co/The                                                                   | CUSIP: 109696AD6<br>LEI: XFP140TFNOQMIVFTVQ13 | Long             | DBT              | CORP              | US        |     56000 | PA      | $58248.12     | 0.01%             | 2032-06-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| BAUSCH HEALTH COS INC                                                 | Bausch Health Cos Inc                                                            | CUSIP: 071734AQ0<br>LEI: B3BS7ACMDUWISF18KY76 | Long             | DBT              | CORP              | CA        |    624000 | PA      | $648971.96    | 0.09%             | 2028-09-30      | Fixed         | 11.00%                | No            |                  2 | On Loan: No      |
| CABLEVISION LIGHTPATH                                                 | Cablevision Lightpath LLC                                                        | CUSIP: 12687GAA7<br>LEI: 5493002ZVBLRLGES1R71 | Long             | DBT              | CORP              | US        |    220000 | PA      | $213585.06    | 0.03%             | 2027-09-15      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| MAUSER PACKAGING SOLUT                                                | Mauser Packaging Solutions Holding Co                                            | CUSIP: 57763RAC1<br>LEI: 549300DNGHXL0OMHW304 | Long             | DBT              | CORP              | US        |    148000 | PA      | $148338.62    | 0.02%             | 2027-04-15      | Fixed         | 9.25%                 | No            |                  2 | On Loan: No      |
| EMRLD BOR / EMRLD CO-ISS                                              | EMRLD Borrower LP / Emerald Co-Issuer Inc                                        | CUSIP: 000000000<br>LEI: 98450099EE3A0ZD5F786 | Long             | DBT              | CORP              | US        |    110000 | PA      | $134922.79    | 0.02%             | 2030-12-15      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| COLT Funding LLC                                                      | COLT 2020-3 Mortgage Loan Trust                                                  | CUSIP: 12597QAD8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   3820000 | PA      | $3697246.97   | 0.51%             | 2065-04-27      | Variable      | 3.36%                 | No            |                  2 | On Loan: No      |
| SCOTTS MIRACLE-GRO CO                                                 | Scotts Miracle-Gro Co/The                                                        | CUSIP: 810186AW6<br>LEI: 2TH9E0JTOUXOEGI2R879 | Long             | DBT              | CORP              | US        |     22000 | PA      | $20312.89     | 0.00%             | 2032-02-01      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| ASHTON WOODS USA/FINANCE                                              | Ashton Woods USA LLC / Ashton Woods Finance Co                                   | CUSIP: 045086AR6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     83000 | PA      | $83711.89     | 0.01%             | 2033-08-01      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| Trimaran CAVU Ltd                                                     | Trimaran CAVU 2023-1 Ltd                                                         | CUSIP: 89624XAA4<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    500000 | PA      | $501626.10    | 0.07%             | 2036-07-20      | Floating      | 13.27%                | No            |                  2 | On Loan: No      |
| SMB Private Education Loan Trust                                      | SMB Private Education Loan Trust 2019-B                                          | CUSIP: 83192CAB3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    125532 | PA      | $123220.61    | 0.02%             | 2037-06-15      | Fixed         | 2.84%                 | No            |                  2 | On Loan: No      |
| BOFA SECURITIES INC                                                   | RRP SNAP INC 6.                                                                  | CUSIP: 000000000<br>LEI: 549300HN4UKV1E2R3U73 | Short            | RA               | CORP              | US        |   -222480 | PA      | $-222480.00   | -0.03%            |  |  |  | No            |                  2 | On Loan: No      |
| NEW GOLD INC                                                          | New Gold Inc                                                                     | CUSIP: 644535AJ5<br>LEI: 5493005G0GNCHP0H6L96 | Long             | DBT              | CORP              | CA        |    162000 | PA      | $169682.53    | 0.02%             | 2032-04-01      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| WELLS FARGO SECURITIES LLC                                            | RRP FHLMC 30YR                                                                   | CUSIP: 000000000<br>LEI: VYVVCKR63DVZZN70PB21 | Short            | RA               | CORP              | US        |  -1439409 | PA      | $-1439408.94  | -0.20%            |  |  |  | No            |                  2 | On Loan: No      |
| UNITED AIRLINES INC                                                   | United Airlines Inc                                                              | CUSIP: 90932LAH0<br>LEI: K1OQBWM7XEOO08LDNP29 | Long             | DBT              | CORP              | US        |    114000 | PA      | $112254.52    | 0.02%             | 2029-04-15      | Fixed         | 4.63%                 | No            |                  2 | On Loan: No      |
| RAYMOND JAMES FINANCIAL                                               | Raymond James Financial Inc                                                      | CUSIP: 754730AF6<br>LEI: RGUZHJ05YTITL6D76949 | Long             | DBT              | CORP              | US        |    400000 | PA      | $369219.87    | 0.05%             | 2046-07-15      | Fixed         | 4.95%                 | No            |                  2 | On Loan: No      |
| Octagon Investment Partners XXII Ltd                                  | Octagon Investment Partners XXII Ltd                                             | CUSIP: 67572YBW1<br>LEI: 549300MQ9W5DWZ8QX450 | Long             | ABS-CBDO         | CORP              | KY        |    500000 | PA      | $500887.25    | 0.07%             | 2030-01-22      | Floating      | 7.34%                 | No            |                  2 | On Loan: No      |
| City of New York NY                                                   | NEW YORK NY                                                                      | CUSIP: 64966SNH5<br>LEI: 549300ABYZD2SFD5JB29 | Long             | DBT              | MUN               | US        |    600000 | PA      | $640438.52    | 0.09%             | 2045-02-01      | Fixed         | 6.29%                 | No            |                  2 | On Loan: No      |
| WAND NEWCO 3 INC                                                      | Wand NewCo 3 Inc 2025 Repriced Term Loan B                                       | CUSIP: 93369PAM6<br>LEI: 549300Y3VZEWMSQW8494 | Long             | LON              | CORP              | US        |    179676 | PA      | $178967.77    | 0.02%             | 2031-01-30      | Floating      | 6.66%                 | No            |                  2 | On Loan: No      |
| KINGDOM OF MOROCCO                                                    | Morocco Government International Bond                                            | CUSIP: 617726AK0<br>LEI: 529900F3MBW9XY5K1X07 | Long             | DBT              | NUSS              | MA        |    200000 | PA      | $191344.00    | 0.03%             | 2027-12-15      | Fixed         | 2.38%                 | No            |                  2 | On Loan: No      |
| Wells Fargo Commercial Mortgage Trust                                 | Wells Fargo Commercial Mortgage Trust 2016-LC25                                  | CUSIP: 95000JAV0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1700000 | PA      | $1680878.91   | 0.23%             | 2059-12-15      | Fixed         | 3.64%                 | No            |                  2 | On Loan: No      |
| JP Morgan Mortgage Trust                                              | J.P. Morgan Mortgage Trust 2023-DSC1                                             | CUSIP: 46656NAA7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    269884 | PA      | $265043.60    | 0.04%             | 2063-07-25      | Variable      | 4.63%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF LATVIA                                                    | Latvia Government International Bond                                             | CUSIP: 518417AD2<br>LEI: 25490002QDEB2KTLNK39 | Long             | DBT              | NUSS              | LV        |    200000 | PA      | $204988.84    | 0.03%             | 2034-07-30      | Fixed         | 5.13%                 | No            |                  2 | On Loan: No      |
| VERITIV OPERATING CO                                                  | Veritiv Operating Co                                                             | CUSIP: 92339LAA0<br>LEI: 5493004G8OK5L1UTIY12 | Long             | DBT              | CORP              | US        |     91000 | PA      | $97663.75     | 0.01%             | 2030-11-30      | Fixed         | 10.50%                | No            |                  2 | On Loan: No      |
| T-MOBILE USA INC                                                      | T-Mobile USA Inc                                                                 | CUSIP: 87264ACX1<br>LEI: 549300V2JRLO5DIFGE82 | Long             | DBT              | CORP              | US        |    500000 | PA      | $502927.85    | 0.07%             | 2062-09-15      | Fixed         | 5.80%                 | No            |                  2 | On Loan: No      |
| NatWest Markets PLC                                                   | PURCHASED USD / SOLD EUR                                                         | CUSIP: 000000000<br>LEI: RR3QWICWWIPCS8A4S074 | N/A              | DFE              |  | US        |         1 | NC      | $-759.09      | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| GOODYEAR TIRE & RUBBER                                                | Goodyear Tire & Rubber Co/The                                                    | CUSIP: 382550BK6<br>LEI: 5493002BI0S2ZQUY3437 | Long             | DBT              | CORP              | US        |     81000 | PA      | $75363.80     | 0.01%             | 2033-04-30      | Fixed         | 5.63%                 | No            |                  2 | On Loan: No      |
| BOEING CO/THE                                                         | Boeing Co/The                                                                    | CUSIP: 097023DS1<br>LEI: RVHJWBXLJ1RFUBSY1F30 | Long             | DBT              | CORP              | US        |    550000 | PA      | $608006.39    | 0.08%             | 2034-05-01      | Fixed         | 6.53%                 | No            |                  2 | On Loan: No      |
| Whetstone Park CLO Ltd                                                | Whetstone Park CLO Ltd                                                           | CUSIP: 96329YAC1<br>LEI: 549300M54M5QSBMB3780 | Long             | ABS-CBDO         | CORP              | KY        |    725000 | PA      | $725812.07    | 0.10%             | 2035-01-20      | Floating      | 6.19%                 | No            |                  2 | On Loan: No      |
| BlackRock Liquidity Funds                                             | BlackRock Liquidity Funds: T-Fund, Institutional Shares                          | CUSIP: 09248U718<br>LEI: 5493007YVNX55LTRQ706 | Long             | STIV             | RF                | US        |   8165942 | NS      | $8165942.30   | 1.12%             |  |  |  | No            |                  1 | On Loan: No      |
| AL RAJHI SUKUK LTD                                                    | Al Rajhi Sukuk Ltd                                                               | CUSIP: 000000000<br>LEI: 549300FHETHK3XGY8N60 | Long             | DBT              | CORP              | KY        |    200000 | PA      | $201664.00    | 0.03%             | 2030-07-21      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| Bayview Commercial Asset Trust                                        | Bayview Commercial Asset Trust 2007-2                                            | CUSIP: 07325XAA8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    475600 | PA      | $441428.14    | 0.06%             | 2037-07-25      | Floating      | 4.68%                 | No            |                  2 | On Loan: No      |
| Panama Government International Bonds                                 | Panama Government International Bonds                                            | CUSIP: 698299BT0<br>LEI: 549300SHS4T08CL0LP14 | Long             | DBT              | NUSS              | PA        |    200000 | PA      | $207300.00    | 0.03%             | 2035-02-14      | Fixed         | 6.40%                 | No            |                  2 | On Loan: No      |
| Ellucian Holdings, Inc.                                               | Ellucian Holdings Inc 2024 2nd Lien Term Loan                                    | CUSIP: 28917XAE0<br>LEI: 549300RP8NIJ7FY7OS79 | Long             | LON              | CORP              | US        |    363000 | PA      | $370561.29    | 0.05%             | 2032-11-22      | Floating      | 8.91%                 | No            |                  2 | On Loan: No      |
| State Street Bank & Trust Co.                                         | PURCHASED USD / SOLD EUR                                                         | CUSIP: 000000000<br>LEI: 571474TGEMMWANRLN572 | N/A              | DFE              |  | US        |         1 | NC      | $166.53       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| General Motors Co                                                     | General Motors Co                                                                | CUSIP: 37045VAF7<br>LEI: 54930070NSV60J38I987 | Long             | DBT              | CORP              | US        |   2506000 | PA      | $2548428.99   | 0.35%             | 2043-10-02      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| CAMELOT FINANCE SA                                                    | Camelot Finance SA                                                               | CUSIP: 13323AAB6<br>LEI: N/A                  | Long             | DBT              | CORP              | LU        |     35000 | PA      | $34879.99     | 0.00%             | 2026-11-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| SMYRNA READY MIX CONCRET                                              | Smyrna Ready Mix Concrete LLC                                                    | CUSIP: 85236FAA1<br>LEI: 549300S7RFWHQFOIOY93 | Long             | DBT              | CORP              | US        |     34000 | PA      | $34010.81     | 0.00%             | 2028-11-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| GETTY IMAGES INC                                                      | Getty Images Inc                                                                 | CUSIP: 374276AM5<br>LEI: 5493005NV20IG4VEKZ40 | Long             | DBT              | CORP              | US        |     95000 | PA      | $90718.35     | 0.01%             | 2030-02-21      | Fixed         | 11.25%                | No            |                  2 | On Loan: No      |
| Trimaran CAVU Ltd                                                     | Trimaran Cavu 2021-2 Ltd                                                         | CUSIP: 89624UAJ1<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    500000 | PA      | $502301.85    | 0.07%             | 2034-10-25      | Floating      | 7.83%                 | No            |                  2 | On Loan: No      |
| ARSENAL AIC PARENT LLC                                                | Arsenal AIC Parent LLC                                                           | CUSIP: 04288BAB6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    161000 | PA      | $170466.32    | 0.02%             | 2030-10-01      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| CITIGROUP GLOBAL MARKETS INC                                          | RRP TREASURY BO                                                                  | CUSIP: 000000000<br>LEI: MBNUM2BPBDO7JBLYG310 | Short            | RA               | CORP              | US        | -70087500 | PA      | $-70087500.00 | -9.59%            |  |  |  | No            |                  2 | On Loan: No      |
| BLUE OWL CAPITAL CORP II                                              | Blue Owl Capital Corp II                                                         | CUSIP: 69121DAD2<br>LEI: 549300MMNWZO5XKDDX47 | Long             | DBT              | CORP              | US        |     66000 | PA      | $68373.30     | 0.01%             | 2026-11-15      | Fixed         | 8.45%                 | No            |                  2 | On Loan: No      |
| SUMMIT ACQUISITION INC                                                | Summit Acquisition Inc 2025 Add-on Term Loan                                     | CUSIP: 86600DAH7<br>LEI: N/A                  | Long             | LON              | CORP              | US        |     75848 | PA      | $76068.97     | 0.01%             | 2031-10-16      | Floating      | 7.66%                 | No            |                  2 | On Loan: No      |
| Eaton Corp                                                            | Eaton Corp                                                                       | CUSIP: 278062AE4<br>LEI: 0NZWDMRCE180888QQE14 | Long             | DBT              | CORP              | US        |    500000 | PA      | $441859.55    | 0.06%             | 2042-11-02      | Fixed         | 4.15%                 | No            |                  2 | On Loan: No      |
| BLUE OWL CAPITAL CORP                                                 | Blue Owl Capital Corp                                                            | CUSIP: 69121KAJ3<br>LEI: 2549000BD79OOCPF2L94 | Long             | DBT              | CORP              | US        |    311000 | PA      | $319801.76    | 0.04%             | 2030-07-15      | Fixed         | 6.20%                 | No            |                  2 | On Loan: No      |
| Madison Park Funding Ltd                                              | Madison Park Funding XXIII Ltd                                                   | CUSIP: 55820TAN8<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    600000 | PA      | $601138.92    | 0.08%             | 2031-07-27      | Floating      | 6.58%                 | No            |                  2 | On Loan: No      |
| RHP HOTEL PPTY/RHP FINAN                                              | RHP Hotel Properties LP / RHP Finance Corp                                       | CUSIP: 749571AK1<br>LEI: N/A                  | Long             | DBT              |  | US        |    188000 | PA      | $193280.99    | 0.03%             | 2032-04-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| VEDANTA RESOURCES                                                     | Vedanta Resources Finance II PLC                                                 | CUSIP: 92243XAH4<br>LEI: 8945002DGA3BBXO3N634 | Long             | DBT              | CORP              | GB        |    200000 | PA      | $209375.00    | 0.03%             | 2029-09-17      | Fixed         | 10.88%                | No            |                  2 | On Loan: No      |
| The Huntington National Bank                                          | Huntington Bank Auto Credit-Linked Notes Series 2024-2                           | CUSIP: 44644NAG4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    548492 | PA      | $553817.90    | 0.08%             | 2032-10-20      | Fixed         | 5.44%                 | No            |                  2 | On Loan: No      |
| MELCO RESORTS FINANCE                                                 | Melco Resorts Finance Ltd                                                        | CUSIP: 58547DAD1<br>LEI: 5493000FQDBWKDBZEF60 | Long             | DBT              | CORP              | KY        |    400000 | PA      | $390780.00    | 0.05%             | 2029-12-04      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| RBC CAPITAL MARKETS LLC                                               | RRP ALTRIA GROU                                                                  | CUSIP: 000000000<br>LEI: 549300LCO2FLSSVFFR64 | Short            | RA               | CORP              | US        |  -1887500 | PA      | $-1887500.00  | -0.26%            |  |  |  | No            |                  2 | On Loan: No      |
| Bank                                                                  | BANK 2021-BNK35                                                                  | CUSIP: 06540CBX4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    672000 | PA      | $568204.02    | 0.08%             | 2064-06-15      | Variable      | 2.90%                 | No            |                  2 | On Loan: No      |
| CITIGROUP GLOBAL MARKETS INC                                          | RRP TREASURY BO                                                                  | CUSIP: 000000000<br>LEI: MBNUM2BPBDO7JBLYG310 | Short            | RA               | CORP              | US        | -62150625 | PA      | $-62150625.00 | -8.50%            |  |  |  | No            |                  2 | On Loan: No      |
| FIVE POINT OPERATING CO                                               | Five Point Operating Co LP                                                       | CUSIP: 33834YAC2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     50000 | PA      | $50738.57     | 0.01%             | 2030-10-01      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                            | Fannie Mae Pool                                                                  | CUSIP: 3140QNDE9<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   1714135 | PA      | $1506360.43   | 0.21%             | 2052-02-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| JPMORGAN CHASE & CO                                                   | JPMorgan Chase & Co                                                              | CUSIP: 46647PBM7<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | DBT              | CORP              | US        |    800000 | PA      | $628693.30    | 0.09%             | 2041-04-22      | Fixed         | 3.11%                 | No            |                  2 | On Loan: No      |
| TRINIDAD & TOBAGO                                                     | Trinidad & Tobago Government International Bond                                  | CUSIP: 896292AM1<br>LEI: N/A                  | Long             | DBT              | NUSS              | TT        |    200000 | PA      | $203650.00    | 0.03%             | 2034-06-26      | Fixed         | 6.40%                 | No            |                  2 | On Loan: No      |
| SMB Private Education Loan Trust                                      | SMB Private Education Loan Trust 2022-C                                          | CUSIP: 78449CAA6<br>LEI: 549300XC4C7GRVLU6076 | Long             | ABS-O            | CORP              | US        |    244527 | PA      | $243964.32    | 0.03%             | 2050-05-16      | Fixed         | 4.48%                 | No            |                  2 | On Loan: No      |
| Neuberger Berman CLO Ltd                                              | Neuberger Berman Loan Advisers CLO 34 Ltd                                        | CUSIP: 64132YBJ0<br>LEI: 5493009EGZQAPYYVLD80 | Long             | ABS-CBDO         | CORP              | KY        |    530000 | PA      | $530370.95    | 0.07%             | 2039-07-20      | Floating      | 5.98%                 | No            |                  2 | On Loan: No      |
| EQUIPMENTSHARE.COM INC                                                | EquipmentShare.com Inc                                                           | CUSIP: 29450YAC3<br>LEI: 254900PWJK48CGPKPI80 | Long             | DBT              | CORP              | US        |     73000 | PA      | $78018.17     | 0.01%             | 2033-03-15      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| ENERGY TRANSFER LP                                                    | Energy Transfer LP                                                               | CUSIP: 29273VAN0<br>LEI: MTLVN9N7JE8MIBIJ1H73 | Long             | DBT              | CORP              | US        |   4275000 | PA      | $4290945.75   | 0.59%             | 2026-11-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| SAMARCO MINERACAO SA                                                  | Samarco Mineracao SA                                                             | CUSIP: 000000000<br>LEI: 529900U8HKV15GJC4O60 | Long             | DBT              | CORP              | BR        |     45400 | PA      | $45627.00     | 0.01%             | 2031-06-30      | Fixed         | 9.50%                 | No            |                  2 | On Loan: No      |
| ELEVANCE HEALTH INC                                                   | Elevance Health Inc                                                              | CUSIP: 94973VBK2<br>LEI: 8MYN82XMYQH89CTMTH67 | Long             | DBT              | CORP              | US        |   1500000 | PA      | $1330418.24   | 0.18%             | 2044-08-15      | Fixed         | 4.65%                 | No            |                  2 | On Loan: No      |
| CNX MIDSTREAM PART LP                                                 | CNX Midstream Partners LP                                                        | CUSIP: 12654AAA9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     66000 | PA      | $63289.76     | 0.01%             | 2030-04-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| DIRECTV FINANCING LLC                                                 | DirecTV Financing LLC 2025 Term Loan B                                           | CUSIP: 25460HAF9<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    385840 | PA      | $376676.30    | 0.05%             | 2031-02-17      | Floating      | 9.81%                 | No            |                  2 | On Loan: No      |
| MADISON IAQ LLC                                                       | Madison IAQ LLC                                                                  | CUSIP: 55760LAB3<br>LEI: 549300IXDNBXNHUPBU73 | Long             | DBT              | CORP              | US        |    351000 | PA      | $346752.98    | 0.05%             | 2029-06-30      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| GENESIS ENERGY LP/FIN                                                 | Genesis Energy LP / Genesis Energy Finance Corp                                  | CUSIP: 37185LAR3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     66000 | PA      | $69032.63     | 0.01%             | 2033-05-15      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| VENTURE GLOBAL PLAQUE                                                 | Venture Global Plaquemines LNG LLC                                               | CUSIP: 922966AD8<br>LEI: 549300TKP4I6OJ02BF90 | Long             | DBT              | CORP              | US        |    552000 | PA      | $586321.70    | 0.08%             | 2036-01-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| CVS HEALTH CORP                                                       | CVS Health Corp                                                                  | CUSIP: 126650EE6<br>LEI: 549300EJG376EN5NQE29 | Long             | DBT              | CORP              | US        |    700000 | PA      | $710159.04    | 0.10%             | 2044-06-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| UBS GROUP AG                                                          | UBS Group AG                                                                     | CUSIP: 902613BE7<br>LEI: 549300SZJ9VS8SGXAN81 | Long             | DBT              | CORP              | CH        |   1200000 | PA      | $1429040.40   | 0.20%             | 2033-11-13      | Fixed         | 9.25%                 | No            |                  2 | On Loan: No      |
| State of Illinois                                                     | ILLINOIS ST                                                                      | CUSIP: 452151LF8<br>LEI: 54930048FV8RWPR02D67 | Long             | DBT              | MUN               | US        |   1745098 | PA      | $1766292.11   | 0.24%             | 2033-06-01      | Fixed         | 5.10%                 | No            |                  2 | On Loan: No      |
| AMERICAN AXLE & MFG INC                                               | American Axle & Manufacturing Inc                                                | CUSIP: 02406PBD1<br>LEI: RY5TAKFOBLDUGX31MS24 | Long             | DBT              | CORP              | US        |     95000 | PA      | $95740.59     | 0.01%             | 2033-10-15      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| Deutsche Bank AG                                                      | PURCHASED USD / SOLD EUR                                                         | CUSIP: 000000000<br>LEI: 7LTWFZYICNSX8D621K86 | N/A              | DFE              |  | US        |         1 | NC      | $88.36        | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| ARDAGH PKG FIN/HLDGS USA                                              | Ardagh Packaging Finance PLC / Ardagh Holdings USA Inc                           | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | CORP              | XX        |    200000 | PA      | $228336.64    | 0.03%             | 2026-08-15      | Fixed         | 2.13%                 | No            |                  2 | On Loan: No      |
| OPTION CARE HEALTH INC                                                | Option Care Health Inc                                                           | CUSIP: 68404LAA0<br>LEI: 549300DI3Q5ACSYJRI17 | Long             | DBT              | CORP              | US        |     76000 | PA      | $73295.58     | 0.01%             | 2029-10-31      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| INTERPUBLIC GROUP COS                                                 | Interpublic Group of Cos Inc/The                                                 | CUSIP: 460690BQ2<br>LEI: 5493008IUOJ5VWTRC333 | Long             | DBT              | CORP              | US        |    500000 | PA      | $466510.37    | 0.06%             | 2048-10-01      | Fixed         | 5.40%                 | No            |                  2 | On Loan: No      |
| Republic of South Africa Government International Bonds               | Republic of South Africa Government International Bonds                          | CUSIP: 836205BB9<br>LEI: 378900AAFB4F17004C49 | Long             | DBT              | NUSS              | ZA        |    252000 | PA      | $201841.92    | 0.03%             | 2049-09-30      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| NRG ENERGY INC                                                        | NRG Energy Inc                                                                   | CUSIP: 629377CY6<br>LEI: 5E2UPK5SW04M13XY7I38 | Long             | DBT              | CORP              | US        |     81000 | PA      | $81096.91     | 0.01%             | 2029-07-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| PENNYMAC FIN SVCS INC                                                 | PennyMac Financial Services Inc                                                  | CUSIP: 70932MAG2<br>LEI: 549300W1D516HBDEU871 | Long             | DBT              | CORP              | US        |    217000 | PA      | $224854.75    | 0.03%             | 2032-05-15      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                              | Ginnie Mae I Pool                                                                | CUSIP: 36202VEV9<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |     17877 | PA      | $18121.87     | 0.00%             | 2033-08-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| ATOS SE                                                               | Atos SE                                                                          | CUSIP: 000000000<br>LEI: 5493001EZOOA66PTBR68 | Long             | SN               | CORP              | FR        |     18088 | PA      | $24430.49     | 0.00%             | 2029-12-18      | Variable      | 9.00%                 | No            |                  2 | On Loan: No      |
| FREEDOM MORTGAGE HOLD                                                 | Freedom Mortgage Holdings LLC                                                    | CUSIP: 35641AAC2<br>LEI: 254900ROJ91RGM43S156 | Long             | DBT              | CORP              | US        |    103000 | PA      | $107959.45    | 0.01%             | 2032-04-01      | Fixed         | 8.38%                 | No            |                  2 | On Loan: No      |
| RYAN SPECIALTY GROUP                                                  | Ryan Specialty LLC                                                               | CUSIP: 78351MAA0<br>LEI: 549300K52N7QBO3PYY45 | Long             | DBT              | CORP              | US        |     60000 | PA      | $58133.11     | 0.01%             | 2030-02-01      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| UNIVISION COMMUNICATIONS                                              | Univision Communications Inc                                                     | CUSIP: 914906AY8<br>LEI: 549300YQDE2JSGTL8V47 | Long             | DBT              | CORP              | US        |    454000 | PA      | $470443.88    | 0.06%             | 2028-08-15      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| Ellington Financial Mortgage Trust                                    | Ellington Financial Mortgage Trust 2020-1                                        | CUSIP: 31574PAD7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1500000 | PA      | $1541443.35   | 0.21%             | 2065-05-25      | Variable      | 5.24%                 | No            |                  2 | On Loan: No      |
| GGAM FINANCE LTD                                                      | GGAM Finance Ltd                                                                 | CUSIP: 36170JAA4<br>LEI: 254900X2QXEN0FVXRF65 | Long             | DBT              | CORP              | KY        |    113000 | PA      | $119605.30    | 0.02%             | 2028-06-15      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| GS Mortgage-Backed Securities Trust                                   | GS Mortgage-Backed Securities Corp Trust 2022-PJ2                                | CUSIP: 36267EAD3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    915235 | PA      | $759716.46    | 0.10%             | 2052-06-25      | Variable      | 2.50%                 | No            |                  2 | On Loan: No      |
| WAND NEWCO 3 INC                                                      | Wand NewCo 3 Inc                                                                 | CUSIP: 933940AA6<br>LEI: 549300Y3VZEWMSQW8494 | Long             | DBT              | CORP              | US        |    333000 | PA      | $350855.46    | 0.05%             | 2032-01-30      | Fixed         | 7.63%                 | No            |                  2 | On Loan: No      |
| KODIAK GAS SERVICES LLC                                               | Kodiak Gas Services LLC                                                          | CUSIP: 50012LAD6<br>LEI: 549300ZQBRWEUOVOM131 | Long             | DBT              | CORP              | US        |    191000 | PA      | $194471.59    | 0.03%             | 2033-10-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| TRANSDIGM INC                                                         | TransDigm Inc                                                                    | CUSIP: 893647BZ9<br>LEI: 88Q84GB3X55CF5OC7582 | Long             | DBT              | CORP              | US        |    115000 | PA      | $118268.18    | 0.02%             | 2034-01-31      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| COMM Mortgage Trust                                                   | COMM 2025-167G Mortgage Trust                                                    | CUSIP: 12674VAE1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    341000 | PA      | $342250.86    | 0.05%             | 2040-08-10      | Fixed         | 5.93%                 | No            |                  2 | On Loan: No      |
| ONCOR ELECTRIC DELIVERY                                               | Oncor Electric Delivery Co LLC                                                   | CUSIP: 68233JCK8<br>LEI: 549300SP2X2BS1KERD24 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $998457.49    | 0.14%             | 2032-09-15      | Fixed         | 4.55%                 | No            |                  2 | On Loan: No      |
| REWORLD HOLDING CORP                                                  | Reworld Holding Corp                                                             | CUSIP: 22303XAA3<br>LEI: 40XIFLS8XDQGGHGPGC04 | Long             | DBT              | CORP              | US        |     92000 | PA      | $86523.03     | 0.01%             | 2029-12-01      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| PENN Commercial Mortgage Trust                                        | PENN Commercial Mortgage Trust 2025-P11                                          | CUSIP: 69382VAA2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    314000 | PA      | $319573.94    | 0.04%             | 2042-08-10      | Variable      | 5.52%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF GUATEMALA                                                 | Guatemala Government Bond                                                        | CUSIP: 401494AW9<br>LEI: 529900QKDFFU9UWW5315 | Long             | DBT              | NUSS              | GT        |    200000 | PA      | $211800.00    | 0.03%             | 2036-06-13      | Fixed         | 6.60%                 | No            |                  2 | On Loan: No      |
| Endo Luxembourg Finance Company I S.a r.l.                            | Endo Luxembourg Finance Company I Sa rl 2024 1st Lien Term Loan                  | CUSIP: 29280UAD5<br>LEI: 222100B15VY0VVCTG251 | Long             | LON              | CORP              | US        |     92282 | PA      | $92417.14     | 0.01%             | 2031-04-23      | Floating      | 8.16%                 | No            |                  2 | On Loan: No      |
| DIG INTL FIN/DIFL US LLC                                              | Digicel International Finance Ltd / Difl US LLC                                  | CUSIP: 25381MAA5<br>LEI: N/A                  | Long             | DBT              | CORP              | XX        |    645000 | PA      | $661737.75    | 0.09%             | 2032-08-01      | Fixed         | 8.63%                 | No            |                  2 | On Loan: No      |
| Corning Inc                                                           | Corning Inc                                                                      | CUSIP: 219350BF1<br>LEI: 549300X2937PB0CJ7I56 | Long             | DBT              | CORP              | US        |   2000000 | PA      | $1656704.22   | 0.23%             | 2057-11-15      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| Madison Park Funding Ltd                                              | Madison Park Funding XXIII Ltd                                                   | CUSIP: 55820TAJ7<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    542471 | PA      | $543668.60    | 0.07%             | 2031-07-27      | Floating      | 5.55%                 | No            |                  2 | On Loan: No      |
| CSC Holdings LLC                                                      | CSC Holdings LLC 2019 Term Loan B5                                               | CUSIP: 64072UAK8<br>LEI: 3HG2WD2W22M120IUNG49 | Long             | LON              | CORP              | US        |    320647 | PA      | $309924.41    | 0.04%             | 2027-04-15      | Floating      | 8.75%                 | No            |                  2 | On Loan: No      |
| Deutsche Bank AG                                                      | PURCHASED USD / SOLD EUR                                                         | CUSIP: 000000000<br>LEI: 7LTWFZYICNSX8D621K86 | N/A              | DFE              |  | US        |         1 | NC      | $110.63       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| CORELOGIC INC                                                         | CoreLogic Inc                                                                    | CUSIP: 21871DAD5<br>LEI: 54930086CD8K2UIL0516 | Long             | DBT              | CORP              | US        |    592000 | PA      | $574004.50    | 0.08%             | 2028-05-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| TAKEDA PHARMACEUTICAL                                                 | Takeda Pharmaceutical Co Ltd                                                     | CUSIP: 874060AX4<br>LEI: 549300ZLMVP4X0OGR454 | Long             | DBT              | CORP              | JP        |    500000 | PA      | $454085.54    | 0.06%             | 2030-03-31      | Fixed         | 2.05%                 | No            |                  2 | On Loan: No      |
| BOFA SECURITIES INC                                                   | RRP COMMSCOPE L                                                                  | CUSIP: 000000000<br>LEI: 549300HN4UKV1E2R3U73 | Short            | RA               | CORP              | US        |   -380588 | PA      | $-380587.50   | -0.05%            |  |  |  | No            |                  2 | On Loan: No      |
| BPR Trust                                                             | BPR Commercial Mortgage Trust 2024-PARK                                          | CUSIP: 05593UAJ4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    200000 | PA      | $206353.22    | 0.03%             | 2039-11-05      | Variable      | 7.23%                 | No            |                  2 | On Loan: No      |
| CPT MORTGAGE TRUST                                                    | Century Plaza Towers 2019-CPT                                                    | CUSIP: 12654YAG4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    250000 | PA      | $220651.08    | 0.03%             | 2039-11-13      | Variable      | 3.10%                 | No            |                  2 | On Loan: No      |
| SASOL Financing USA LLC                                               | Sasol Financing USA LLC                                                          | CUSIP: 80386WAB1<br>LEI: 549300XRB1PFMESFEL85 | Long             | DBT              | CORP              | US        |    200000 | PA      | $199062.00    | 0.03%             | 2028-09-27      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| WELLS FARGO SECURITIES LLC                                            | RRP FHLMC 10YR                                                                   | CUSIP: 000000000<br>LEI: VYVVCKR63DVZZN70PB21 | Short            | RA               | CORP              | US        |  -3598317 | PA      | $-3598316.64  | -0.49%            |  |  |  | No            |                  2 | On Loan: No      |
| DARLING GLOBAL FINANCE                                                | Darling Global Finance BV                                                        | CUSIP: 000000000<br>LEI: 724500R2BQXOR6YG2Y67 | Long             | DBT              | CORP              | NL        |    100000 | PA      | $118535.35    | 0.02%             | 2032-07-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| WHIRLPOOL CORP                                                        | Whirlpool Corp                                                                   | CUSIP: 963320BE5<br>LEI: WHENKOULSSK7WUM60H03 | Long             | DBT              | CORP              | US        |    152000 | PA      | $151687.06    | 0.02%             | 2033-06-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| SUBWAY FUNDING LLC                                                    | Subway Funding LLC                                                               | CUSIP: 864300AA6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    292788 | PA      | $296829.52    | 0.04%             | 2054-07-30      | Fixed         | 6.03%                 | No            |                  2 | On Loan: No      |
| MORGAN STANLEY                                                        | Morgan Stanley                                                                   | CUSIP: 61747YFZ3<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |   3000000 | PA      | $3097777.47   | 0.42%             | 2031-04-17      | Fixed         | 5.19%                 | No            |                  2 | On Loan: No      |
| Concord Music Royalties, LLC                                          | Concord Music Royalties LLC                                                      | CUSIP: 20633KAE8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    164000 | PA      | $165234.94    | 0.02%             | 2074-10-20      | Fixed         | 5.64%                 | No            |                  2 | On Loan: No      |
| SEALED AIR CORP                                                       | Sealed Air Corp                                                                  | CUSIP: 81211KAY6<br>LEI: Q0M0CZB4YN6JZ65WXI09 | Long             | DBT              | CORP              | US        |     38000 | PA      | $37292.85     | 0.01%             | 2027-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Apidos CLO Ltd                                                        | Apidos CLO XVIII-R                                                               | CUSIP: 03767NBA3<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    777000 | PA      | $780908.15    | 0.11%             | 2038-01-22      | Floating      | 6.03%                 | No            |                  2 | On Loan: No      |
| OneMain Direct Auto Receivables Trust                                 | OneMain Direct Auto Receivables Trust 2025-1                                     | CUSIP: 682684AD7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    533000 | PA      | $542927.44    | 0.07%             | 2037-07-14      | Fixed         | 6.10%                 | No            |                  2 | On Loan: No      |
| AMERIGAS PART/FIN CORP                                                | AmeriGas Partners LP / AmeriGas Finance Corp                                     | CUSIP: 030981AP9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    106000 | PA      | $110969.11    | 0.02%             | 2030-06-01      | Fixed         | 9.50%                 | No            |                  2 | On Loan: No      |
| Bank of America Corp                                                  | Bank of America Corp                                                             | CUSIP: 06051GHM4<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |   4000000 | PA      | $4013842.28   | 0.55%             | 2029-07-23      | Fixed         | 4.27%                 | No            |                  2 | On Loan: No      |
| PARK INTERMED HOLDINGS                                                | Park Intermediate Holdings LLC / PK Domestic Property LLC / PK Finance Co-Issuer | CUSIP: 70052LAD5<br>LEI: N/A                  | Long             | DBT              |  | US        |    121000 | PA      | $124738.17    | 0.02%             | 2030-02-01      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| Madison Park Funding Ltd                                              | Madison Park Funding XXXVII Ltd                                                  | CUSIP: 55817EAY2<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   1000000 | PA      | $1004660.10   | 0.14%             | 2037-04-15      | Floating      | 6.27%                 | No            |                  2 | On Loan: No      |
| TRIVIUM PACKAGING FIN                                                 | Trivium Packaging Finance BV                                                     | CUSIP: 000000000<br>LEI: 724500GMZWW3PVYET548 | Long             | DBT              | CORP              | NL        |    100000 | PA      | $123417.72    | 0.02%             | 2030-07-15      | Fixed         | 6.63%                 | No            |                  2 | On Loan: No      |
| Navient Student Loan Trust                                            | Navient Private Education Refi Loan Trust 2021-D                                 | CUSIP: 63942CAC6<br>LEI: 549300ZUZB9UCBWEBN39 | Long             | ABS-O            | CORP              | US        |    391775 | PA      | $367050.31    | 0.05%             | 2060-04-15      | Fixed         | 3.48%                 | No            |                  2 | On Loan: No      |
| CHOBANI HOLDCO II LLC                                                 | Chobani Holdco II LLC                                                            | CUSIP: 169918AA7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    607461 | PA      | $643751.33    | 0.09%             | 2029-10-01      | Fixed         | 8.75%                 | No            |                  2 | On Loan: No      |
| AXALTA COATING SYSTEMS D                                              | Axalta Coating Systems Dutch Holding B BV                                        | CUSIP: 05455JAA5<br>LEI: 5493007DMEBZH3CQ5E51 | Long             | DBT              | CORP              | NL        |    173000 | PA      | $180995.97    | 0.02%             | 2031-02-15      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| BELLIS ACQUISITION CO PL                                              | Bellis Acquisition Co PLC                                                        | CUSIP: 000000000<br>LEI: 259400CYE2267UB4A481 | Long             | DBT              | CORP              | GB        |    100000 | PA      | $119151.48    | 0.02%             | 2031-07-01      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| GENESIS ENERGY LP/FIN                                                 | Genesis Energy LP / Genesis Energy Finance Corp                                  | CUSIP: 37185LAL6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    118000 | PA      | $118831.19    | 0.02%             | 2028-02-01      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| Palmer Square CLO Ltd                                                 | Palmer Square CLO 2020-3 Ltd                                                     | CUSIP: 69701RBA4<br>LEI: 549300IUW4WDDDVSMS20 | Long             | ABS-CBDO         | CORP              | JE        |    250000 | PA      | $251117.55    | 0.03%             | 2036-11-15      | Floating      | 6.51%                 | No            |                  2 | On Loan: No      |
| LIFEPOINT HEALTH INC                                                  | LifePoint Health Inc                                                             | CUSIP: 53219LAW9<br>LEI: 549300G8ZVHRTBBBSZ90 | Long             | DBT              | CORP              | US        |    441000 | PA      | $486051.24    | 0.07%             | 2030-10-15      | Fixed         | 11.00%                | No            |                  2 | On Loan: No      |
| ZEBRA TECHNOLOGIES CORP                                               | Zebra Technologies Corp                                                          | CUSIP: 989207AD7<br>LEI: PO0I32GKZ3HZMMDPZZ08 | Long             | DBT              | CORP              | US        |     77000 | PA      | $79084.85     | 0.01%             | 2032-06-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| DISH DBS CORP                                                         | DISH DBS Corp                                                                    | CUSIP: 25470XBE4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    763000 | PA      | $749719.45    | 0.10%             | 2026-12-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| CLEVELAND-CLIFFS INC                                                  | Cleveland-Cliffs Inc                                                             | CUSIP: 185899AQ4<br>LEI: 549300TM2WLI2BJMDD86 | Long             | DBT              | CORP              | US        |    272000 | PA      | $277185.95    | 0.04%             | 2029-11-01      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| INTEL CORP                                                            | Intel Corp                                                                       | CUSIP: 458140BU3<br>LEI: KNX4USFCNGPY45LOCE31 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $874735.65    | 0.12%             | 2031-08-12      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| EMRLD BOR / EMRLD CO-ISS                                              | EMRLD Borrower LP / Emerald Co-Issuer Inc                                        | CUSIP: 000000000<br>LEI: 98450099EE3A0ZD5F786 | Long             | DBT              | CORP              | US        |    100000 | PA      | $122657.09    | 0.02%             | 2030-12-15      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| Discovery Purchaser Corporation                                       | Discovery Purchaser Corporation Term Loan                                        | CUSIP: 25471NAC0<br>LEI: 2549001LSO1ZBIPA5D65 | Long             | LON              | CORP              | US        |    254102 | PA      | $252620.78    | 0.03%             | 2029-10-04      | Floating      | 8.08%                 | No            |                  2 | On Loan: No      |
| Octagon Investment Partners XVII LTD                                  | Octagon Investment Partners XVII Ltd                                             | CUSIP: 67590GBL2<br>LEI: 54930007Y57X4ONHQV20 | Long             | ABS-CBDO         | CORP              | KY        |    500000 | PA      | $500900.00    | 0.07%             | 2031-01-25      | Floating      | 5.98%                 | No            |                  2 | On Loan: No      |
| AT&T INC                                                              | AT&T Inc                                                                         | CUSIP: 00206RMT6<br>LEI: 549300Z40J86GGSTL398 | Long             | DBT              | CORP              | US        |    560000 | PA      | $582033.21    | 0.08%             | 2034-02-15      | Fixed         | 5.40%                 | No            |                  2 | On Loan: No      |
| NELNET STUDENT LOAN TRUST                                             | Nelnet Student Loan Trust 2021-C                                                 | CUSIP: 64035GAA7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    239390 | PA      | $238744.22    | 0.03%             | 2062-04-20      | Floating      | 4.99%                 | No            |                  2 | On Loan: No      |
| Golden State Tobacco Securitization Corp                              | GOLDEN ST TOBACCO SECURITIZATION CORP CA TOBACCO SETTLEMENT                      | CUSIP: 38122ND58<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $782150.42    | 0.11%             | 2041-06-01      | Fixed         | 3.71%                 | No            |                  2 | On Loan: No      |
| CONOCOPHILLIPS COMPANY                                                | ConocoPhillips Co                                                                | CUSIP: 20826FBC9<br>LEI: 6VJJ5GQWIRDQ06DUXG89 | Long             | DBT              | CORP              | US        |    600000 | PA      | $492387.01    | 0.07%             | 2042-03-15      | Fixed         | 3.76%                 | No            |                  2 | On Loan: No      |
| KLA Corp                                                              | KLA Corp                                                                         | CUSIP: 482480AH3<br>LEI: 549300H0BF5JCG96TJ81 | Long             | DBT              | CORP              | US        |    500000 | PA      | $473495.90    | 0.06%             | 2049-03-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| HOMES Trust                                                           | Homes 2024-Nqm2 Trust                                                            | CUSIP: 43761CAA0<br>LEI: 254900MQRASV1D1NGZ28 | Long             | ABS-MBS          | CORP              | US        |    520656 | PA      | $525604.92    | 0.07%             | 2069-10-25      | Variable      | 5.72%                 | No            |                  2 | On Loan: No      |
| OPAL BIDCO SAS                                                        | OPAL BIDCO                                                                       | CUSIP: 68348BAA1<br>LEI: 969500R96XT7XY2UJ564 | Long             | DBT              | CORP              | FR        |    400000 | PA      | $409898.40    | 0.06%             | 2032-03-31      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| WATCO COS LLC/FINANCE CO                                              | Watco Cos LLC / Watco Finance Corp                                               | CUSIP: 941130AD8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    124000 | PA      | $128348.69    | 0.02%             | 2032-08-01      | Fixed         | 7.13%                 | No            |                  2 | On Loan: No      |
| JPMORGAN CHASE FINANCIAL                                              | JPMorgan Chase Financial Co LLC                                                  | CUSIP: 48133DL24<br>LEI: 549300NJFDJOFYVV6789 | Long             | DBT              | CORP              | US        |    191000 | PA      | $221178.00    | 0.03%             | 2027-06-15      | Fixed         | 0.50%                 | No            |                  2 | On Loan: No      |
| VITAL ENERGY INC                                                      | Vital Energy Inc                                                                 | CUSIP: 516806AH9<br>LEI: 549300X0PTWU2QSLSL14 | Long             | DBT              | CORP              | US        |     59000 | PA      | $58428.29     | 0.01%             | 2029-07-31      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| DANA INC                                                              | Dana Inc                                                                         | CUSIP: 235825AH9<br>LEI: KVWHW7YLZPFJM8QYNJ51 | Long             | DBT              | CORP              | US        |     46000 | PA      | $45555.76     | 0.01%             | 2030-09-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| JP Morgan Mortgage Trust                                              | JP Morgan Mortgage Trust 2006-S3                                                 | CUSIP: 46629AAM3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     41542 | PA      | $13278.45     | 0.00%             | 2036-08-25      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Chicago Board of Trade                                                | US LONG BOND(CBT) DEC25                                                          | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DIR              |  | US        |        45 | NC      | $99032.91     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| WELLS FARGO SECURITIES LLC                                            | RRP FHLMC 20YR                                                                   | CUSIP: 000000000<br>LEI: VYVVCKR63DVZZN70PB21 | Short            | RA               | CORP              | US        |   -118877 | PA      | $-118876.96   | -0.02%            |  |  |  | No            |                  2 | On Loan: No      |
| QNITY ELECTRONICS INC                                                 | Qnity Electronics Inc                                                            | CUSIP: 74743LAB6<br>LEI: 254900RSUG4J9TFFZX53 | Long             | DBT              | CORP              | US        |    127000 | PA      | $129690.62    | 0.02%             | 2033-08-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| GLENCORE FUNDING LLC                                                  | Glencore Funding LLC                                                             | CUSIP: 378272CB2<br>LEI: 213800STG1QDNBY87K49 | Long             | DBT              | CORP              | US        |    600000 | PA      | $627242.63    | 0.09%             | 2055-04-01      | Fixed         | 6.14%                 | No            |                  2 | On Loan: No      |
| LLOYDS BANKING GROUP PLC                                              | Lloyds Banking Group PLC                                                         | CUSIP: 53944YAJ2<br>LEI: 549300PPXHEU2JF0AM85 | Long             | DBT              | CORP              | GB        |    595000 | PA      | $601277.25    | 0.08%             | 2026-06-27      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| United States Treasury                                                | U.S. Treasury Bonds                                                              | CUSIP: 912810UA4<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  63500000 | PA      | $62388750.00  | 8.53%             | 2054-05-15      | Fixed         | 4.63%                 | No            |                  2 | On Loan: No      |
| Titan Acquisition Limited                                             | Titan Acquisition Limited 2024 Term Loan B                                       | CUSIP: 000000000<br>LEI: 5493003ZDHRVP2N4C109 | Long             | LON              | CORP              | CA        |    475583 | PA      | $476505.46    | 0.07%             | 2029-02-15      | Floating      | 7.92%                 | No            |                  2 | On Loan: No      |
| WELLS FARGO SECURITIES LLC                                            | RRP FNMA 15YR U                                                                  | CUSIP: 000000000<br>LEI: VYVVCKR63DVZZN70PB21 | Short            | RA               | CORP              | US        |  -1133877 | PA      | $-1133876.53  | -0.16%            |  |  |  | No            |                  2 | On Loan: No      |
| BOFA SECURITIES INC                                                   | RRP RESIDEO FUN                                                                  | CUSIP: 000000000<br>LEI: 549300HN4UKV1E2R3U73 | Short            | RA               | CORP              | US        |    -82031 | PA      | $-82031.25    | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| MORGAN STANLEY                                                        | Morgan Stanley                                                                   | CUSIP: 61747YFL4<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |    600000 | PA      | $624926.56    | 0.09%             | 2035-01-18      | Fixed         | 5.47%                 | No            |                  2 | On Loan: No      |
| MIDCAP FINANCIAL ISSR TR                                              | Midcap Financial Issuer Trust                                                    | CUSIP: 59567LAA2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    200000 | PA      | $198630.20    | 0.03%             | 2028-05-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| T-MOBILE USA INC                                                      | T-Mobile USA Inc                                                                 | CUSIP: 87264ABN4<br>LEI: 549300V2JRLO5DIFGE82 | Long             | DBT              | CORP              | US        |    500000 | PA      | $340791.35    | 0.05%             | 2051-02-15      | Fixed         | 3.30%                 | No            |                  2 | On Loan: No      |
| SOTERA HEALTH HLDGS LLC                                               | Sotera Health Holdings LLC                                                       | CUSIP: 83600WAE9<br>LEI: 549300OVT7MBXFLOFU20 | Long             | DBT              | CORP              | US        |    105000 | PA      | $110251.89    | 0.02%             | 2031-06-01      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| T-MOBILE USA INC                                                      | T-Mobile USA Inc                                                                 | CUSIP: 87264ACB9<br>LEI: 549300V2JRLO5DIFGE82 | Long             | DBT              | CORP              | US        |    500000 | PA      | $454310.35    | 0.06%             | 2031-02-15      | Fixed         | 2.55%                 | No            |                  2 | On Loan: No      |
| HUB INTERNATIONAL LTD                                                 | HUB International Ltd                                                            | CUSIP: 44332PAJ0<br>LEI: 549300JQT6ATTUNS5E06 | Long             | DBT              | CORP              | US        |   2427000 | PA      | $2527329.75   | 0.35%             | 2032-01-31      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| AthenaHealth Group Inc                                                | Athenahealth Group Inc 2022 Term Loan B                                          | CUSIP: 04686RAB9<br>LEI: 254900AA3KZN4Q7A5Z33 | Long             | LON              | CORP              | US        |    376128 | PA      | $375187.22    | 0.05%             | 2029-02-15      | Floating      | 6.91%                 | No            |                  2 | On Loan: No      |
| CIM Trust                                                             | CIM Trust 2023-I1                                                                | CUSIP: 12570DAA4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    927759 | PA      | $929680.40    | 0.13%             | 2058-04-25      | Variable      | 6.03%                 | No            |                  2 | On Loan: No      |
| GARDA WORLD SECURITY                                                  | Garda World Security Corp                                                        | CUSIP: 36485MAK5<br>LEI: 549300ZF1NDXLMCHNO20 | Long             | DBT              | CORP              | CA        |    106000 | PA      | $105195.75    | 0.01%             | 2027-02-15      | Fixed         | 4.63%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                            | Fannie Mae Pool                                                                  | CUSIP: 31416BZF8<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    160155 | PA      | $168773.24    | 0.02%             | 2038-12-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| ALTRIA GROUP INC                                                      | Altria Group Inc                                                                 | CUSIP: 02209SBL6<br>LEI: XSGZFLO9YTNO9VCQV219 | Long             | DBT              | CORP              | US        |    200000 | PA      | $176054.06    | 0.02%             | 2032-02-04      | Fixed         | 2.45%                 | No            |                  2 | On Loan: No      |
| FINASTRA USA INC                                                      | FINASTRA USA INC 2025 2nd LIEN TERM LOAN                                         | CUSIP: 31772YAB2<br>LEI: 549300ZB2RO6QC7YTK71 | Long             | LON              | CORP              | US        |     96000 | PA      | $95328.00     | 0.01%             | 2033-09-15      | Floating      | 11.04%                | No            |                  2 | On Loan: No      |
| Whitebox CLO Ltd                                                      | Whitebox Clo I Ltd                                                               | CUSIP: 96467FBC3<br>LEI: 549300E4AC0513DYO913 | Long             | ABS-CBDO         | CORP              | KY        |    500000 | PA      | $501314.60    | 0.07%             | 2036-07-24      | Floating      | 7.42%                 | No            |                  2 | On Loan: No      |
| NOMURA SECURITIES INTERNATIONAL INC                                   | RRP SABRE GLBL                                                                   | CUSIP: 000000000<br>LEI: OXTKY6Q8X53C9ILVV871 | Short            | RA               | CORP              | US        |    -45482 | PA      | $-45482.50    | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| VODAFONE GROUP PLC                                                    | Vodafone Group PLC                                                               | CUSIP: 92857WBS8<br>LEI: 213800TB53ELEUKM7Q61 | Long             | DBT              | CORP              | GB        |    700000 | PA      | $621114.38    | 0.08%             | 2049-06-19      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| B&M EUROPEAN VALUE RET                                                | B&M European Value Retail SA                                                     | CUSIP: 000000000<br>LEI: 213800UK7ZRLY2K1X530 | Long             | DBT              | CORP              | LU        |    100000 | PA      | $136251.91    | 0.02%             | 2031-11-27      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| CLOUD SOFTWARE GRP INC                                                | Cloud Software Group Inc                                                         | CUSIP: 18912UAA0<br>LEI: 04EEB871XLHVNY4RZJ65 | Long             | DBT              | CORP              | US        |   2205000 | PA      | $2287040.11   | 0.31%             | 2029-09-30      | Fixed         | 9.00%                 | No            |                  2 | On Loan: No      |
| MDGH GMTN RSC LTD                                                     | MDGH GMTN RSC Ltd                                                                | CUSIP: 55285GAD6<br>LEI: 213800WRY6FRL9IXLT77 | Long             | DBT              | CORP              | AE        |    200000 | PA      | $197500.00    | 0.03%             | 2033-11-22      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| PUG LLC                                                               | PUG LLC 2024 Extended Term Loan B                                                | CUSIP: 74530DAH8<br>LEI: 549300NL9JUFIOARLW93 | Long             | LON              | CORP              | US        |    191793 | PA      | $189794.19    | 0.03%             | 2030-03-15      | Floating      | 8.91%                 | No            |                  2 | On Loan: No      |
| Cedar Funding Ltd                                                     | Cedar Funding XIV CLO Ltd                                                        | CUSIP: 15034AAN5<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    500000 | PA      | $501405.05    | 0.07%             | 2037-10-15      | Floating      | 6.02%                 | No            |                  2 | On Loan: No      |
| BOFA SECURITIES INC                                                   | RRP COHERENT CO                                                                  | CUSIP: 000000000<br>LEI: 549300HN4UKV1E2R3U73 | Short            | RA               | CORP              | US        |    -91052 | PA      | $-91052.50    | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| MAUSER PACKAGING SOLUT                                                | Mauser Packaging Solutions Holding Co                                            | CUSIP: 57763RAD9<br>LEI: 549300DNGHXL0OMHW304 | Long             | DBT              | CORP              | US        |   1850000 | PA      | $1868135.55   | 0.26%             | 2027-04-15      | Fixed         | 7.88%                 | No            |                  2 | On Loan: No      |
| SEAGATE DATA STORAGE TECHNOLOG                                        | SEAGATE DATA STOR                                                                | CUSIP: 81180LAQ8<br>LEI: N/A                  | Long             | DBT              | CORP              | SG        |    111000 | PA      | $117511.04    | 0.02%             | 2031-07-15      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| POST HOLDINGS INC                                                     | Post Holdings Inc                                                                | CUSIP: 737446AQ7<br>LEI: JM1I5YUAURL6DC8N1468 | Long             | DBT              | CORP              | US        |     67000 | PA      | $64588.83     | 0.01%             | 2030-04-15      | Fixed         | 4.63%                 | No            |                  2 | On Loan: No      |
| VISTRA CORP                                                           | Vistra Corp                                                                      | CUSIP: 92840MAB8<br>LEI: 549300KP43CPCUJOOG15 | Long             | DBT              | CORP              | US        |    100000 | PA      | $102285.80    | 0.01%             | 2026-10-15      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| Simon Property Group LP                                               | Simon Property Group LP                                                          | CUSIP: 828807CE5<br>LEI: MR92GTD0MJTTTTQDVG45 | Long             | DBT              |  | US        |   1670000 | PA      | $1923889.16   | 0.26%             | 2040-02-01      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| CHARTER COMM OPT LLC/CAP                                              | Charter Communications Operating LLC / Charter Communications Operating Capital  | CUSIP: 161175BS2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1000000 | PA      | $826914.38    | 0.11%             | 2049-07-01      | Fixed         | 5.13%                 | No            |                  2 | On Loan: No      |
| COLT Funding LLC                                                      | COLT 2024-6 Mortgage Loan Trust                                                  | CUSIP: 19688XAA4<br>LEI: 213800U2X2TO1PQH1O75 | Long             | ABS-MBS          | CORP              | US        |   1106415 | PA      | $1112401.67   | 0.15%             | 2069-11-25      | Variable      | 5.39%                 | No            |                  2 | On Loan: No      |
| Viking Cruises Ltd                                                    | Viking Cruises Ltd                                                               | CUSIP: 92676XAD9<br>LEI: 549300IJP90T4MV2GL84 | Long             | DBT              | CORP              | BM        |     95000 | PA      | $95036.48     | 0.01%             | 2027-09-15      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| CROSSCOUNTRY INTER                                                    | CrossCountry Intermediate HoldCo LLC                                             | CUSIP: 22757VAA8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    148000 | PA      | $148544.60    | 0.02%             | 2030-10-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Wireless PropCo Funding LLC                                           | Wireless PropCo Funding LLC                                                      | CUSIP: 97655EAE3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    725000 | PA      | $692088.26    | 0.09%             | 2055-06-25      | Fixed         | 4.30%                 | No            |                  2 | On Loan: No      |
| RCI BANQUE SA                                                         | RCI Banque SA                                                                    | CUSIP: 000000000<br>LEI: 96950001WI712W7PQG45 | Long             | DBT              | CORP              | FR        |    100000 | PA      | $119454.02    | 0.02%             | 2037-03-24      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| ALPHABET INC                                                          | Alphabet Inc                                                                     | CUSIP: 02079KAN7<br>LEI: 5493006MHB84DD0ZWV18 | Long             | DBT              | CORP              | US        |    600000 | PA      | $597019.42    | 0.08%             | 2065-05-15      | Fixed         | 5.30%                 | No            |                  2 | On Loan: No      |
| Oracle Corp                                                           | Oracle Corp                                                                      | CUSIP: 68389XBW4<br>LEI: 1Z4GXXU7ZHVWFCD8TV52 | Long             | DBT              | CORP              | US        |   3025000 | PA      | $2429502.07   | 0.33%             | 2040-04-01      | Fixed         | 3.60%                 | No            |                  2 | On Loan: No      |
| Extended Stay America Trust                                           | Extended Stay America Trust 2021-ESH                                             | CUSIP: 30227FAJ9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1627523 | PA      | $1627522.72   | 0.22%             | 2038-07-15      | Floating      | 6.51%                 | No            |                  2 | On Loan: No      |
| TRANSCANADA PIPELINES                                                 | TransCanada PipeLines Ltd                                                        | CUSIP: 893526DF7<br>LEI: 5BV01I6231JPDAPMGH09 | Long             | DBT              | CORP              | CA        |    500000 | PA      | $517261.03    | 0.07%             | 2034-03-31      | Fixed         | 5.60%                 | No            |                  2 | On Loan: No      |
| Whitebox CLO Ltd                                                      | Whitebox CLO III Ltd                                                             | CUSIP: 96467JAE2<br>LEI: 549300JXCQSPB1A61C68 | Long             | ABS-CBDO         | CORP              | KY        |    250000 | PA      | $249885.53    | 0.03%             | 2035-10-15      | Floating      | 9.97%                 | No            |                  2 | On Loan: No      |
| MONG DUONG FIN HLDGS BV                                               | Mong Duong Finance Holdings BV                                                   | CUSIP: 000000000<br>LEI: 549300995KGQFMWSV879 | Long             | DBT              | CORP              | NL        |    390297 | PA      | $385906.54    | 0.05%             | 2029-05-07      | Fixed         | 5.13%                 | No            |                  2 | On Loan: No      |
| UNITEDHEALTH GROUP INC                                                | UnitedHealth Group Inc                                                           | CUSIP: 91324PER9<br>LEI: 549300GHBMY8T5GXDE41 | Long             | DBT              | CORP              | US        |    340000 | PA      | $355365.31    | 0.05%             | 2033-02-15      | Fixed         | 5.35%                 | No            |                  2 | On Loan: No      |
| ANTERO MIDSTREAM PART/FI                                              | Antero Midstream Partners LP / Antero Midstream Finance Corp                     | CUSIP: 03690AAH9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    140000 | PA      | $139486.86    | 0.02%             | 2029-06-15      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| VENTURE GLOBAL PLAQUE                                                 | Venture Global Plaquemines LNG LLC                                               | CUSIP: 922966AC0<br>LEI: 549300TKP4I6OJ02BF90 | Long             | DBT              | CORP              | US        |    530000 | PA      | $557908.42    | 0.08%             | 2034-01-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| NRG ENERGY INC                                                        | NRG Energy Inc                                                                   | CUSIP: 629377CX8<br>LEI: 5E2UPK5SW04M13XY7I38 | Long             | DBT              | CORP              | US        |    100000 | PA      | $102509.10    | 0.01%             | 2034-11-01      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| Citibank NA                                                           | PURCHASED USD / SOLD EUR                                                         | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DFE              |  | US        |         1 | NC      | $-781.14      | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| REPUBLIC OF ECUADOR                                                   | Ecuador Government International Bond                                            | CUSIP: 000000000<br>LEI: 5299003Y2U5XK0A35H71 | Long             | DBT              | NUSS              | EC        |     20728 | PA      | $18376.21     | 0.00%             | 2030-07-31      | Fixed         | 6.90%                 | No            |                  2 | On Loan: No      |
| ROCKET COS INC                                                        | Rocket Cos Inc                                                                   | CUSIP: 77311WAB7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    668000 | PA      | $689452.15    | 0.09%             | 2033-08-01      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| SMB Private Education Loan Trust                                      | SMB Private Education Loan Trust 2023-B                                          | CUSIP: 78449HAB3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    162948 | PA      | $166186.74    | 0.02%             | 2056-10-16      | Floating      | 6.17%                 | No            |                  2 | On Loan: No      |
| WELLS FARGO SECURITIES LLC                                            | RRP FNMA 30YR U                                                                  | CUSIP: 000000000<br>LEI: VYVVCKR63DVZZN70PB21 | Short            | RA               | CORP              | US        |  -3649796 | PA      | $-3649796.12  | -0.50%            |  |  |  | No            |                  2 | On Loan: No      |
| SCOTTS MIRACLE-GRO CO                                                 | Scotts Miracle-Gro Co/The                                                        | CUSIP: 810186AS5<br>LEI: 2TH9E0JTOUXOEGI2R879 | Long             | DBT              | CORP              | US        |     13000 | PA      | $12630.23     | 0.00%             | 2029-10-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Lockheed Martin Corp                                                  | Lockheed Martin Corp                                                             | CUSIP: 539830BD0<br>LEI: DPRBOZP0K5RM2YE8UU08 | Long             | DBT              | CORP              | US        |    800000 | PA      | $653337.50    | 0.09%             | 2045-03-01      | Fixed         | 3.80%                 | No            |                  2 | On Loan: No      |
| FTAI AVIATION INVESTORS                                               | FTAI Aviation Investors LLC                                                      | CUSIP: 34960PAG6<br>LEI: 529900E7PUVK6BC8PE80 | Long             | DBT              | CORP              | US        |    337000 | PA      | $352677.91    | 0.05%             | 2032-06-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| ADVANCION SCIENCES INC                                                | Advancion Sciences Inc                                                           | CUSIP: 499894AA1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    213929 | PA      | $189327.17    | 0.03%             | 2026-11-01      | Fixed         | 9.25%                 | No            |                  2 | On Loan: No      |
| Deephaven Residential Mortgage Trust                                  | Deephaven Residential Mortgage Trust 2022-2                                      | CUSIP: 24380XAA5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    212874 | PA      | $208007.22    | 0.03%             | 2067-03-25      | Variable      | 4.30%                 | No            |                  2 | On Loan: No      |
| BANCO MERCANTIL DE NORTE                                              | Banco Mercantil del Norte SA/Grand Cayman                                        | CUSIP: 05971PAD0<br>LEI: 549300QTVYRPFHS0J362 | Long             | DBT              | CORP              | MX        |    200000 | PA      | $210900.00    | 0.03%             | 2031-05-20      | Fixed         | 8.38%                 | No            |                  2 | On Loan: No      |
| STANDARD INDUSTRI INC/NY                                              | Standard Industries Inc/NY                                                       | CUSIP: 853496AD9<br>LEI: 54930064UHXCIUWVI755 | Long             | DBT              | CORP              | US        |      3000 | PA      | $2974.19      | 0.00%             | 2028-01-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| NORTHROP GRUMMAN CORP                                                 | Northrop Grumman Corp                                                            | CUSIP: 666807CH3<br>LEI: RIMU48P07456QXSO0R61 | Long             | DBT              | CORP              | US        |    400000 | PA      | $402788.85    | 0.06%             | 2033-03-15      | Fixed         | 4.70%                 | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS GROUP INC                                               | Goldman Sachs Group Inc/The                                                      | CUSIP: 38141GC93<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | DBT              | CORP              | US        |   2000000 | PA      | $2068211.36   | 0.28%             | 2031-04-23      | Fixed         | 5.22%                 | No            |                  2 | On Loan: No      |
| City & County Honolulu HI Wastewater System Revenue                   | HONOLULU CITY & CNTY HI WSTWTR SYS REVENUE                                       | CUSIP: 4387012C7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $692991.87    | 0.09%             | 2045-07-01      | Fixed         | 2.62%                 | No            |                  2 | On Loan: No      |
| PRESTIGEBIDCO GMBH                                                    | PrestigeBidCo GmbH                                                               | CUSIP: 000000000<br>LEI: 529900CSF1DNOCHMI763 | Long             | DBT              | CORP              | DE        |    100000 | PA      | $118071.22    | 0.02%             | 2029-07-01      | Floating      | 5.78%                 | No            |                  2 | On Loan: No      |
| BROADCOM INC                                                          | Broadcom Inc                                                                     | CUSIP: 11135FBT7<br>LEI: 549300WV6GIDOZJTV909 | Long             | DBT              | CORP              | US        |   1500000 | PA      | $1470997.67   | 0.20%             | 2032-04-15      | Fixed         | 4.15%                 | No            |                  2 | On Loan: No      |
| ARBOR REALTY SR INC                                                   | Arbor Realty SR Inc                                                              | CUSIP: 03881NAJ6<br>LEI: 549300TW7RTL2CI3CN08 | Long             | DBT              |  | US        |     86000 | PA      | $90423.78     | 0.01%             | 2030-07-15      | Fixed         | 7.88%                 | No            |                  2 | On Loan: No      |
| VENTURE GLOBAL LNG INC                                                | Venture Global LNG Inc                                                           | CUSIP: 92332YAC5<br>LEI: 54930011XLBUWMQUC829 | Long             | DBT              | CORP              | US        |   1385000 | PA      | $1526304.63   | 0.21%             | 2029-02-01      | Fixed         | 9.50%                 | No            |                  2 | On Loan: No      |
| Voya CLO Ltd                                                          | VOYA CLO 2017-2                                                                  | CUSIP: 92915UAJ3<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    250000 | PA      | $250367.50    | 0.03%             | 2030-06-07      | Floating      | 6.23%                 | No            |                  2 | On Loan: No      |
| Hess Corp                                                             | Hess Corp                                                                        | CUSIP: 42809HAG2<br>LEI: UASVRYNXNK17ULIGK870 | Long             | DBT              | CORP              | US        |   1100000 | PA      | $1103632.48   | 0.15%             | 2027-04-01      | Fixed         | 4.30%                 | No            |                  2 | On Loan: No      |
| UKG INC                                                               | UKG Inc                                                                          | CUSIP: 90279XAA0<br>LEI: 529900FKHWSTQ1GXK240 | Long             | DBT              | CORP              | US        |   1419000 | PA      | $1464173.87   | 0.20%             | 2031-02-01      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| Flagstar Mortgage Trust                                               | Flagstar Mortgage Trust 2021-4                                                   | CUSIP: 33852FAA4<br>LEI: 549300H3PON1KOB2RF56 | Long             | ABS-MBS          | CORP              | US        |   2190364 | PA      | $1819486.83   | 0.25%             | 2051-06-01      | Variable      | 2.50%                 | No            |                  2 | On Loan: No      |
| MORGAN STANLEY & CO. INTERNATIONAL                                    | SWAP/CDSWAP/SCDS: (ADLERR)                                                       | CUSIP: 000000000<br>LEI: 4PQUHN3JPFGFNF3BB653 | N/A              | DCR              |  | XX        |      4021 | OU      | $265.23       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| ACADIA HEALTHCARE CO INC                                              | Acadia Healthcare Co Inc                                                         | CUSIP: 00404AAQ2<br>LEI: 5493005CW985Y9D0NC11 | Long             | DBT              | CORP              | US        |     64000 | PA      | $66444.10     | 0.01%             | 2033-03-15      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| PROOFPOINT INC                                                        | PROOFPOINT INC 2025 FUNGIBLE TERM LOAN                                           | CUSIP: 74345HAJ0<br>LEI: 529900C5FODDK0WSR085 | Long             | LON              | CORP              | US        |     28000 | PA      | $28073.08     | 0.00%             | 2028-08-31      | Floating      | 7.15%                 | No            |                  2 | On Loan: No      |
| GFL ENVIRONMENTAL INC                                                 | GFL Environmental Inc                                                            | CUSIP: 36168QAQ7<br>LEI: 894500E7NLBY9VZRT696 | Long             | DBT              | CORP              | CA        |    111000 | PA      | $116152.70    | 0.02%             | 2031-01-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| GENERAL ELECTRIC CO                                                   | General Electric Co                                                              | CUSIP: 36962G3A0<br>LEI: 3C7474T6CDKPR9K6YT90 | Long             | DBT              | CORP              | US        |   2150000 | PA      | $2371703.55   | 0.32%             | 2037-08-07      | Fixed         | 6.15%                 | No            |                  2 | On Loan: No      |
| SAMARCO MINERACAO SA                                                  | Samarco Mineracao SA                                                             | CUSIP: 79588YAA7<br>LEI: 529900U8HKV15GJC4O60 | Long             | DBT              | CORP              | BR        |      8553 | PA      | $8595.77      | 0.00%             | 2031-06-30      | Fixed         | 9.50%                 | No            |                  2 | On Loan: No      |
| JH NORTH AMERICA HOLDING                                              | JH North America Holdings Inc                                                    | CUSIP: 46593WAB1<br>LEI: 254900A6FXA0D81TL967 | Long             | DBT              | CORP              | US        |    167000 | PA      | $171053.76    | 0.02%             | 2032-07-31      | Fixed         | 6.13%                 | No            |                  2 | On Loan: No      |
| Regatta 30 Funding Ltd.                                               | Regatta 30 Funding Ltd                                                           | CUSIP: 75903UAE3<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   1700000 | PA      | $1704471.51   | 0.23%             | 2038-01-25      | Floating      | 5.97%                 | No            |                  2 | On Loan: No      |
| MIDAS OPCO HOLDINGS LLC                                               | Stagwell Global LLC                                                              | CUSIP: 59565JAA9<br>LEI: 984500904E015Z0C1F82 | Long             | DBT              | CORP              | US        |     69000 | PA      | $67027.90     | 0.01%             | 2029-08-15      | Fixed         | 5.63%                 | No            |                  2 | On Loan: No      |
| RIVERS ENTERPRISE                                                     | Rivers Enterprise Lender LLC / Rivers Enterprise Lender Corp                     | CUSIP: 76884GAA3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     84000 | PA      | $84748.98     | 0.01%             | 2030-10-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| FOUNDATION BUILDING M                                                 | Foundation Building Materials Inc                                                | CUSIP: 350392AA4<br>LEI: 549300ZVE6MONHB01I28 | Long             | DBT              | CORP              | US        |      9000 | PA      | $9122.50      | 0.00%             | 2029-03-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| VISTA OIL & GAS ARGENTIN                                              | Vista Energy Argentina SAU                                                       | CUSIP: 92841RAB6<br>LEI: 549300FE4UJNCG1DB123 | Long             | DBT              | CORP              | AR        |     76000 | PA      | $77444.00     | 0.01%             | 2033-06-10      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| LSF12 Crown US Commercial Bidco LLC                                   | LSF12 Crown US Commercial Bidco LLC 2025 Term Loan B                             | CUSIP: 50221UAD3<br>LEI: 254900FI2OCFTJ9PAJ18 | Long             | LON              | CORP              | US        |    168000 | PA      | $168105.84    | 0.02%             | 2031-12-02      | Floating      | 7.66%                 | No            |                  2 | On Loan: No      |
| WASTE MANAGEMENT INC                                                  | Waste Management Inc                                                             | CUSIP: 94106LBR9<br>LEI: 549300YX8JIID70NFS41 | Long             | DBT              | CORP              | US        |    350000 | PA      | $265459.52    | 0.04%             | 2041-06-01      | Fixed         | 2.95%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                           | Freddie Mac Gold Pool                                                            | CUSIP: 31335B6T8<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    446646 | PA      | $447523.83    | 0.06%             | 2047-03-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Neuberger Berman CLO Ltd                                              | Neuberger Berman Loan Advisers CLO 31 Ltd                                        | CUSIP: 64132JAW5<br>LEI: 5493007OZE2103TZO049 | Long             | ABS-CBDO         | CORP              | KY        |   1615000 | PA      | $1618362.11   | 0.22%             | 2039-01-20      | Floating      | 5.56%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                           | Freddie Mac Pool                                                                 | CUSIP: 3132DPAR9<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   1402410 | PA      | $1339904.53   | 0.18%             | 2052-09-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| COLT Funding LLC                                                      | COLT 2022-9 Mortgage Loan Trust                                                  | CUSIP: 19688PAA1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    228832 | PA      | $228708.84    | 0.03%             | 2067-12-25      | Variable      | 6.79%                 | No            |                  2 | On Loan: No      |
| RR DONNELLEY & SONS CO                                                | RR Donnelley & Sons Co                                                           | CUSIP: 257867BJ9<br>LEI: SU4X0P4WWRGOQDTSV032 | Long             | DBT              | CORP              | US        |    370000 | PA      | $379200.05    | 0.05%             | 2029-08-01      | Fixed         | 9.50%                 | No            |                  2 | On Loan: No      |
| UnitedHealth Group Inc                                                | UnitedHealth Group Inc                                                           | CUSIP: 91324PBN1<br>LEI: 549300GHBMY8T5GXDE41 | Long             | DBT              | CORP              | US        |    600000 | PA      | $621066.38    | 0.08%             | 2040-10-15      | Fixed         | 5.70%                 | No            |                  2 | On Loan: No      |
| SESAC Finance, LLC                                                    | Sesac Finance LLC                                                                | CUSIP: 78396YAE3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    345000 | PA      | $343632.01    | 0.05%             | 2055-07-25      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| WELLS FARGO SECURITIES LLC                                            | RRP FHLMC 15YR                                                                   | CUSIP: 000000000<br>LEI: VYVVCKR63DVZZN70PB21 | Short            | RA               | CORP              | US        |   -247083 | PA      | $-247082.64   | -0.03%            |  |  |  | No            |                  2 | On Loan: No      |
| Spruce Hill Mortgage Loan Trust                                       | Spruce Hill Mortgage Loan Trust 2022-SH1                                         | CUSIP: 85213XAA9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    594814 | PA      | $590003.22    | 0.08%             | 2057-07-25      | Variable      | 4.10%                 | No            |                  2 | On Loan: No      |
| VERTIV GROUP CORPORATION                                              | Vertiv Group Corp                                                                | CUSIP: 92535UAB0<br>LEI: 549300ZT8RQ5VK10E643 | Long             | DBT              | CORP              | US        |    135000 | PA      | $131824.72    | 0.02%             | 2028-11-15      | Fixed         | 4.13%                 | No            |                  2 | On Loan: No      |
| ZEGONA FINANCE PLC                                                    | Zegona Finance PLC                                                               | CUSIP: 000000000<br>LEI: 254900B3KC1SS7T2TE92 | Long             | DBT              | CORP              | GB        |     90000 | PA      | $111864.29    | 0.02%             | 2029-07-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| AMKOR TECHNOLOGY INC                                                  | Amkor Technology Inc                                                             | CUSIP: 031652BL3<br>LEI: 529900VHLRTKPWZJBM84 | Long             | DBT              | CORP              | US        |     46000 | PA      | $46468.43     | 0.01%             | 2033-10-01      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| BNP PARIBAS SA                                                        | SWAP/CDSWAP/CDS: (ITRAXX.XO.42.V2 20-35%)                                        | CUSIP: 000000000<br>LEI: QHSFEYI7HUOXXZ413E03 | N/A              | DCR              |  | FR        |     18000 | OU      | $2953.65      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Compass Datacenters Issuer III, LLC                                   | Compass Datacenters Issuer III LLC                                               | CUSIP: 20469BAD9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    520000 | PA      | $525823.06    | 0.07%             | 2050-07-25      | Fixed         | 5.29%                 | No            |                  2 | On Loan: No      |
| VORTEX OPCO LLC                                                       | Vortex Opco LLC Second Out Term Loan                                             | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | KY        |     60286 | PA      | $13262.98     | 0.00%             | 2028-12-17      | Floating      | 8.37%                 | No            |                  2 | On Loan: No      |
| UNITED MEXICAN STATES                                                 | Mexico Government International Bond                                             | CUSIP: 000000000<br>LEI: 254900EGTWEU67VP6075 | Long             | DBT              | NUSS              | MX        |    100000 | PA      | $119533.62    | 0.02%             | 2038-03-19      | Fixed         | 5.13%                 | No            |                  2 | On Loan: No      |
| CHS/COMMUNITY HEALTH SYS                                              | CHS/Community Health Systems Inc                                                 | CUSIP: 12543DBQ2<br>LEI: 5493007X5NC5XI1BB106 | Long             | DBT              | CORP              | US        |    521000 | PA      | $533764.50    | 0.07%             | 2034-01-15      | Fixed         | 9.75%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                            | Fannie Mae Pool                                                                  | CUSIP: 3140QQJE6<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   1853841 | PA      | $1885690.93   | 0.26%             | 2037-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| TEACHERS INSUR & ANNUITY                                              | Teachers Insurance & Annuity Association of America                              | CUSIP: 878091BF3<br>LEI: O06XD7BJ4EPXNABVFN69 | Long             | DBT              | CORP              | US        |    700000 | PA      | $580825.90    | 0.08%             | 2047-05-15      | Fixed         | 4.27%                 | No            |                  2 | On Loan: No      |
| FANTASIA HOLDINGS GROUP                                               | Fantasia Holdings Group Co Ltd                                                   | CUSIP: 000000000<br>LEI: 5493005JQNLB3I01JW62 | Long             | DBT              | CORP              | KY        |    400000 | PA      | $6000.00      | 0.00%             | 2023-06-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                           | Freddie Mac Pool                                                                 | CUSIP: 3133BBF87<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    503951 | PA      | $480795.05    | 0.07%             | 2052-05-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| KODIAK GAS SERVICES LLC                                               | Kodiak Gas Services LLC                                                          | CUSIP: 50012LAE4<br>LEI: 549300ZQBRWEUOVOM131 | Long             | DBT              | CORP              | US        |    143000 | PA      | $146826.15    | 0.02%             | 2035-10-01      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| GREENKO DUTCH BV                                                      | Greenko Dutch BV                                                                 | CUSIP: 000000000<br>LEI: 724500PT585P4JPVRP08 | Long             | DBT              | CORP              | NL        |    173000 | PA      | $171314.34    | 0.02%             | 2026-03-29      | Fixed         | 3.85%                 | No            |                  2 | On Loan: No      |
| OZLM Ltd                                                              | OZLM XXI Ltd                                                                     | CUSIP: 67112AAG6<br>LEI: 5493002HF6D1C4B1AK86 | Long             | ABS-CBDO         | CORP              | KY        |   1000000 | PA      | $1001313.80   | 0.14%             | 2031-01-20      | Floating      | 7.26%                 | No            |                  2 | On Loan: No      |
| STAKEHOLDER MIDSTREAM LLC                                             | STAKEHOLDER MIDSTREAM LLC TERM LOAN                                              | CUSIP: 000000000<br>LEI: 254900BG1PE2KGG26017 | Long             | LON              | CORP              | US        |    144638 | PA      | $144818.30    | 0.02%             | 2031-01-01      | Floating      | 8.04%                 | No            |                  2 | On Loan: No      |
| SILGAN HOLDINGS INC                                                   | Silgan Holdings Inc                                                              | CUSIP: 000000000<br>LEI: KAF673KJXD92C8KSLU49 | Long             | DBT              | CORP              | US        |    180000 | PA      | $212181.66    | 0.03%             | 2031-02-15      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| BANGKOK BANK PCL/HK                                                   | Bangkok Bank PCL/Hong Kong                                                       | CUSIP: 059895AW2<br>LEI: 549300CCL2BKJGMYXV60 | Long             | DBT              | CORP              | TH        |    200000 | PA      | $204874.00    | 0.03%             | 2028-09-21      | Fixed         | 5.30%                 | No            |                  2 | On Loan: No      |
| MPLX LP                                                               | MPLX LP                                                                          | CUSIP: 55336VAS9<br>LEI: 5493000CZJ19CK4P3G36 | Long             | DBT              | CORP              | US        |    500000 | PA      | $506957.55    | 0.07%             | 2029-02-15      | Fixed         | 4.80%                 | No            |                  2 | On Loan: No      |
| Cantor Commercial Real Estate Lending                                 | Cantor Commercial Real Estate Lending 2019-CF2                                   | CUSIP: 12528YAF0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    550000 | PA      | $517028.93    | 0.07%             | 2052-11-15      | Fixed         | 2.87%                 | No            |                  2 | On Loan: No      |
| VISTRA OPERATIONS CO LLC                                              | Vistra Operations Co LLC                                                         | CUSIP: 92840VAP7<br>LEI: 549300ZH5GKBTJZ7NM23 | Long             | DBT              | CORP              | US        |    144000 | PA      | $152379.65    | 0.02%             | 2031-10-15      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                            | Federal National Mortgage Association                                            | CUSIP: 313586752<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | EP               | USGSE             | US        |     10000 | NS      | $166000.00    | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| QNITY ELECTRONICS INC                                                 | QNITY ELECTRONICS INC TERM LOAN B                                                | CUSIP: 74737SAB9<br>LEI: 254900RSUG4J9TFFZX53 | Long             | LON              | CORP              | US        |    181000 | PA      | $180773.75    | 0.02%             | 2032-08-12      | Floating      | 6.13%                 | No            |                  2 | On Loan: No      |
| NEOGEN FOOD SAFE CORP                                                 | Neogen Food Safety Corp                                                          | CUSIP: 365417AA2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    128000 | PA      | $133852.03    | 0.02%             | 2030-07-20      | Fixed         | 8.63%                 | No            |                  2 | On Loan: No      |
| OCP CLO Ltd                                                           | OCP CLO 2017-13 Ltd                                                              | CUSIP: 67097LAV8<br>LEI: 254900M77QLN2EBJHE11 | Long             | ABS-CBDO         | CORP              | KY        |   1000000 | PA      | $1002998.90   | 0.14%             | 2037-11-26      | Floating      | 5.67%                 | No            |                  2 | On Loan: No      |
| ONEMAIN FINANCE CORP                                                  | OneMain Finance Corp                                                             | CUSIP: 682691AK6<br>LEI: 5493008I795YYBFWFU90 | Long             | DBT              | CORP              | US        |    181000 | PA      | $186979.84    | 0.03%             | 2032-09-15      | Fixed         | 7.13%                 | No            |                  2 | On Loan: No      |
| Banc of America Funding Corporation                                   | Banc of America Funding 2007-2 Trust                                             | CUSIP: 05951GAQ5<br>LEI: 54930023UHZHF7UJ8596 | Long             | ABS-MBS          | CORP              | US        |    181454 | PA      | $143810.30    | 0.02%             | 2037-03-25      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| ARCHROCK PARTNERS LP/FIN                                              | Archrock Partners LP / Archrock Partners Finance Corp                            | CUSIP: 03959KAA8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     79000 | PA      | $79003.63     | 0.01%             | 2027-04-01      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| UNIVISION COMMUNICATIONS                                              | Univision Communications Inc                                                     | CUSIP: 914906AZ5<br>LEI: 549300YQDE2JSGTL8V47 | Long             | DBT              | CORP              | US        |    292000 | PA      | $301531.46    | 0.04%             | 2031-07-31      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| NISSAN MOTOR CO                                                       | Nissan Motor Co Ltd                                                              | CUSIP: 000000000<br>LEI: 353800DRBDH1LUTNAY26 | Long             | DBT              | CORP              | JP        |    100000 | PA      | $120874.76    | 0.02%             | 2033-07-17      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| Altria Group Inc                                                      | Altria Group Inc                                                                 | CUSIP: 02209SAR4<br>LEI: XSGZFLO9YTNO9VCQV219 | Long             | DBT              | CORP              | US        |   2000000 | PA      | $1966980.70   | 0.27%             | 2044-01-31      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| AZORRA FINANCE                                                        | Azorra Finance Ltd                                                               | CUSIP: 05480AAA3<br>LEI: 254900MC1HXDAVUUP395 | Long             | DBT              | CORP              | KY        |     92000 | PA      | $96485.00     | 0.01%             | 2030-04-15      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| TEVA PHARMACEUTICALS NE                                               | Teva Pharmaceutical Finance Netherlands III BV                                   | CUSIP: 88167AAE1<br>LEI: 5493004T21MOAFINJP35 | Long             | DBT              | CORP              | NL        |    163000 | PA      | $159740.00    | 0.02%             | 2026-10-01      | Fixed         | 3.15%                 | No            |                  2 | On Loan: No      |
| WARNERMEDIA HOLDINGS INC                                              | Warnermedia Holdings Inc                                                         | CUSIP: 55903VBW2<br>LEI: 549300DXR29GD4N0A520 | Long             | DBT              | CORP              | US        |   1071000 | PA      | $855000.72    | 0.12%             | 2042-03-15      | Fixed         | 5.05%                 | No            |                  2 | On Loan: No      |
| JH NORTH AMERICA HOLDING                                              | JH North America Holdings Inc                                                    | CUSIP: 46593WAA3<br>LEI: 254900A6FXA0D81TL967 | Long             | DBT              | CORP              | US        |    127000 | PA      | $128944.96    | 0.02%             | 2031-01-31      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| AHP HEALTH PARTN                                                      | AHP Health Partners Inc                                                          | CUSIP: 00150LAB7<br>LEI: 549300QMM8MQ6SM5KX05 | Long             | DBT              | CORP              | US        |    153000 | PA      | $150574.35    | 0.02%             | 2029-07-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| FANTASIA HOLDINGS GROUP                                               | Fantasia Holdings Group Co Ltd                                                   | CUSIP: 000000000<br>LEI: 5493005JQNLB3I01JW62 | Long             | DBT              | CORP              | KY        |    200000 | PA      | $2250.00      | 0.00%             | 2022-04-17      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| BNP PARIBAS SA                                                        | RRP MAUSER PACK                                                                  | CUSIP: 000000000<br>LEI: R0MUWSFPU8MPRO8K5P83 | Short            | RA               | CORP              | US        |  -1385560 | PA      | $-1385560.00  | -0.19%            |  |  |  | No            |                  2 | On Loan: No      |
| COMSTOCK RESOURCES INC                                                | Comstock Resources Inc                                                           | CUSIP: 205768AT1<br>LEI: I03QQGEA4SS774AURI46 | Long             | DBT              | CORP              | US        |    201000 | PA      | $193574.14    | 0.03%             | 2030-01-15      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| ONEMAIN FINANCE CORP                                                  | OneMain Finance Corp                                                             | CUSIP: 682691AH3<br>LEI: 5493008I795YYBFWFU90 | Long             | DBT              | CORP              | US        |     85000 | PA      | $87369.04     | 0.01%             | 2029-05-15      | Fixed         | 6.63%                 | No            |                  2 | On Loan: No      |
| BARCLAYS BANK PLC                                                     | SWAP/CDSWAP/SCDS: (EOFP)                                                         | CUSIP: 000000000<br>LEI: G5GSEF7VJP5I7OUK5573 | N/A              | DCR              |  | DE        |     13000 | OU      | $1646.83      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Mello Mortgage Capital Acceptance Trust                               | Mello Mortgage Capital Acceptance 2022-INV2                                      | CUSIP: 58549JAF1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    690053 | PA      | $594523.92    | 0.08%             | 2052-04-25      | Variable      | 3.00%                 | No            |                  2 | On Loan: No      |
| ENTEGRIS INC                                                          | Entegris Inc                                                                     | CUSIP: 29365BAA1<br>LEI: IYX6OWO7BT5DKO3BYG52 | Long             | DBT              | CORP              | US        |    123000 | PA      | $121944.99    | 0.02%             | 2029-04-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| NCL CORPORATION LTD                                                   | NCL Corp Ltd                                                                     | CUSIP: 62886HBY6<br>LEI: UNZWILHE4KMRP9K2L524 | Long             | DBT              | CORP              | BM        |    285000 | PA      | $284989.32    | 0.04%             | 2031-01-15      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| PRAIRIE ACQUIROR LP                                                   | Prairie Acquiror LP                                                              | CUSIP: 73943NAA4<br>LEI: 254900Q6KU2LVSIISH22 | Long             | DBT              | CORP              | US        |    113000 | PA      | $117644.82    | 0.02%             | 2029-08-01      | Fixed         | 9.00%                 | No            |                  2 | On Loan: No      |
| Coral-US Co-Borrower, LLC                                             | Coral-US Co-Borrower LLC 2025 Term Loan B7                                       | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |     74466 | PA      | $73669.96     | 0.01%             | 2032-01-31      | Floating      | 7.57%                 | No            |                  2 | On Loan: No      |
| CLYDESDALE ACQUISITION                                                | Clydesdale Acquisition Holdings Inc                                              | CUSIP: 18972EAD7<br>LEI: 254900QKSDYFR3K5YD98 | Long             | DBT              | CORP              | US        |    560000 | PA      | $574481.60    | 0.08%             | 2032-04-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| AECOM                                                                 | AECOM                                                                            | CUSIP: 00766TAE0<br>LEI: 0EEB8GF0W0NPCIHZX097 | Long             | DBT              | CORP              | US        |    417000 | PA      | $426336.63    | 0.06%             | 2033-08-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| BOFA SECURITIES INC                                                   | RRP MORGAN STAN                                                                  | CUSIP: 000000000<br>LEI: 549300HN4UKV1E2R3U73 | Short            | RA               | CORP              | US        |  -2932500 | PA      | $-2932500.00  | -0.40%            |  |  |  | No            |                  2 | On Loan: No      |
| PERMIAN RESOURC OPTG LLC                                              | Permian Resources Operating LLC                                                  | CUSIP: 71424VAA8<br>LEI: 5493004CTVUMQLRPOE23 | Long             | DBT              | CORP              | US        |    144000 | PA      | $149347.87    | 0.02%             | 2032-01-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| COMM Mortgage Trust                                                   | COMM 2025-167G Mortgage Trust                                                    | CUSIP: 12674VAA9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    309000 | PA      | $310147.87    | 0.04%             | 2040-08-10      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| WILLIAMS SCOTSMAN INC                                                 | Williams Scotsman Inc                                                            | CUSIP: 96949VAL7<br>LEI: 549300DAKDS8SCO1OT57 | Long             | DBT              | CORP              | US        |    235000 | PA      | $245420.37    | 0.03%             | 2031-10-01      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| BARBADOS GOVT OF                                                      | Barbados Government International Bond                                           | CUSIP: 067070AK8<br>LEI: 529900UD1KUUS4SFD905 | Long             | DBT              | NUSS              | BB        |    103000 | PA      | $107274.50    | 0.01%             | 2035-06-26      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| OLYMPUS WTR US HLDG CORP                                              | Olympus Water US Holding Corp                                                    | CUSIP: 681639AE0<br>LEI: 549300YU2GGVCBN3MY89 | Long             | DBT              | CORP              | US        |    543000 | PA      | $543565.56    | 0.07%             | 2033-02-15      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| RTX CORP                                                              | RTX Corp                                                                         | CUSIP: 75513ECR0<br>LEI: I07WOS4YJ0N7YRFE7309 | Long             | DBT              | CORP              | US        |    900000 | PA      | $932168.67    | 0.13%             | 2033-02-27      | Fixed         | 5.15%                 | No            |                  2 | On Loan: No      |
| JP MORGAN CHASE BANK                                                  | SWAP/CDSWAP/SCDS: (VMED)                                                         | CUSIP: 000000000<br>LEI: 7H6GLXDRUGQFU57RNE97 | N/A              | DCR              |  | XX        |     10000 | OU      | $123.55       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Bausch & Lomb Corporation                                             | Bausch & Lomb Corporation 2023 Incremental Term Loan                             | CUSIP: 000000000<br>LEI: 549300NY6OZM39SO6475 | Long             | LON              | CORP              | CA        |    126420 | PA      | $126261.98    | 0.02%             | 2028-09-29      | Floating      | 8.17%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                              | Ginnie Mae II Pool                                                               | CUSIP: 3618NJDT3<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    437348 | PA      | $445536.41    | 0.06%             | 2055-07-20      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| CLARIOS GLOBAL LP/US FIN                                              | Clarios Global LP / Clarios US Finance Co                                        | CUSIP: 18060TAD7<br>LEI: N/A                  | Long             | DBT              | CORP              | XX        |    190000 | PA      | $196271.90    | 0.03%             | 2030-02-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| State of California                                                   | CALIFORNIA ST                                                                    | CUSIP: 13063A5G5<br>LEI: 9845007J7054602FF597 | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1813112.87   | 0.25%             | 2039-04-01      | Fixed         | 7.55%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                            | Fannie Mae Pool                                                                  | CUSIP: 3140QVB52<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   3984874 | PA      | $4031110.43   | 0.55%             | 2054-08-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| LIFEPOINT HEALTH INC                                                  | LifePoint Health Inc                                                             | CUSIP: 53219LAV1<br>LEI: 549300G8ZVHRTBBBSZ90 | Long             | DBT              | CORP              | US        |     94000 | PA      | $101796.17    | 0.01%             | 2030-08-15      | Fixed         | 9.88%                 | No            |                  2 | On Loan: No      |
| LITHIA MOTORS INC                                                     | Lithia Motors Inc                                                                | CUSIP: 536797AJ2<br>LEI: SE8N1EZEHPZQBCBVKD53 | Long             | DBT              | CORP              | US        |    104000 | PA      | $103870.00    | 0.01%             | 2030-10-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| UNIVISION COMMUNICATIONS                                              | Univision Communications Inc                                                     | CUSIP: 914906AX0<br>LEI: 549300YQDE2JSGTL8V47 | Long             | DBT              | CORP              | US        |    120000 | PA      | $120574.20    | 0.02%             | 2030-06-30      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| WELLS FARGO SECURITIES LLC                                            | RRP FNMA 30YR U                                                                  | CUSIP: 000000000<br>LEI: VYVVCKR63DVZZN70PB21 | Short            | RA               | CORP              | US        |  -2055895 | PA      | $-2055895.18  | -0.28%            |  |  |  | No            |                  2 | On Loan: No      |
| BANK OF AMERICA NA                                                    | SWAP/CDSWAP/SCDS: (ADLERR)                                                       | CUSIP: 000000000<br>LEI: B4TYDEB6GKMZO031MB27 | N/A              | DCR              |  | XX        |      5404 | OU      | $356.47       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| OSAIC HOLDINGS INC                                                    | Osaic Holdings Inc                                                               | CUSIP: 00791GAB3<br>LEI: 549300XL60BDV6UW5C86 | Long             | DBT              | CORP              | US        |     76000 | PA      | $78495.54     | 0.01%             | 2032-08-01      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| DC Commercial Mortgage Trust                                          | DC Trust 2024-HLTN                                                               | CUSIP: 24022FAG5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    220000 | PA      | $219969.00    | 0.03%             | 2040-04-13      | Variable      | 7.29%                 | No            |                  2 | On Loan: No      |
| FRONTIER COMMUNICATIONS                                               | Frontier Communications Holdings LLC                                             | CUSIP: 35906ABF4<br>LEI: 549300ZCZ76HYCS0H445 | Long             | DBT              | CORP              | US        |    293000 | PA      | $292341.02    | 0.04%             | 2028-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CELANESE US HOLDINGS LLC                                              | Celanese US Holdings LLC                                                         | CUSIP: 15089QBA1<br>LEI: CD30XVRLT4QO00B1C706 | Long             | DBT              | CORP              | US        |     95000 | PA      | $94599.19     | 0.01%             | 2033-04-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| HSBC Holdings PLC                                                     | HSBC Holdings PLC                                                                | CUSIP: 404280BL2<br>LEI: MLU0ZO3ML4LN2LL2TL39 | Long             | DBT              | CORP              | GB        |    235000 | PA      | $235912.28    | 0.03%             | 2027-05-22      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| BRINK'S CO/THE                                                        | Brink's Co/The                                                                   | CUSIP: 109696AC8<br>LEI: XFP140TFNOQMIVFTVQ13 | Long             | DBT              | CORP              | US        |     85000 | PA      | $87473.42     | 0.01%             | 2029-06-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| MILLROSE PROPERTIES INC                                               | Millrose Properties Inc                                                          | CUSIP: 601137AA0<br>LEI: N/A                  | Long             | DBT              |  | US        |    324000 | PA      | $329504.76    | 0.05%             | 2030-08-01      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| RESIDEO FUNDING INC                                                   | Resideo Funding Inc                                                              | CUSIP: 76119LAD3<br>LEI: 5493000IFJ6XJKH66598 | Long             | DBT              | CORP              | US        |    105000 | PA      | $107615.03    | 0.01%             | 2032-07-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| International Paper Co                                                | International Paper Co                                                           | CUSIP: 460146CH4<br>LEI: 824LMFJDH41EY779Q875 | Long             | DBT              | CORP              | US        |    870000 | PA      | $906102.30    | 0.12%             | 2041-11-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| SCC POWER PLC                                                         | SCC Power PLC                                                                    | CUSIP: 78397YAC6<br>LEI: 529900IYGYC6VSDSDF37 | Long             | DBT              | CORP              | GB        |    140238 | PA      | $34358.31     | 0.00%             | 2032-05-17      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| ARDONAGH FINCO LTD                                                    | Ardonagh Finco Ltd                                                               | CUSIP: 039853AA4<br>LEI: 254900D2T84O1K03BA28 | Long             | DBT              | CORP              | JE        |    893000 | PA      | $934425.38    | 0.13%             | 2031-02-15      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| OI EUROPEAN GROUP BV                                                  | OI European Group BV                                                             | CUSIP: 000000000<br>LEI: 72450053F5WRDY8CDZ66 | Long             | DBT              | CORP              | NL        |    100000 | PA      | $121172.16    | 0.02%             | 2028-05-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| WALT DISNEY COMPANY/THE                                               | Walt Disney Co/The                                                               | CUSIP: 254687DT0<br>LEI: 549300GZKULIZ0WOW665 | Long             | DBT              | CORP              | US        |    385000 | PA      | $422650.92    | 0.06%             | 2028-11-30      | Fixed         | 7.63%                 | No            |                  2 | On Loan: No      |
| GENESIS ENERGY LP/FIN                                                 | Genesis Energy LP / Genesis Energy Finance Corp                                  | CUSIP: 37185LAQ5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    109000 | PA      | $113681.96    | 0.02%             | 2032-05-15      | Fixed         | 7.88%                 | No            |                  2 | On Loan: No      |
| PHOENIX AVIATION CAPITAL                                              | Phoenix Aviation Capital Ltd                                                     | CUSIP: 71910DAA9<br>LEI: 8945008YQAKXZQ3VYJ15 | Long             | DBT              | CORP              | IE        |    313000 | PA      | $333005.08    | 0.05%             | 2030-07-15      | Fixed         | 9.25%                 | No            |                  2 | On Loan: No      |
| HCA Inc                                                               | HCA Inc                                                                          | CUSIP: 404119BV0<br>LEI: L3CJ6J7LJ2DX62FTXD46 | Long             | DBT              | CORP              | US        |   1090000 | PA      | $1039816.67   | 0.14%             | 2047-06-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| BNP PARIBAS SA                                                        | RRP NATIONSTAR                                                                   | CUSIP: 000000000<br>LEI: R0MUWSFPU8MPRO8K5P83 | Short            | RA               | CORP              | US        |   -467280 | PA      | $-467280.00   | -0.06%            |  |  |  | No            |                  2 | On Loan: No      |
| WELLS FARGO SECURITIES LLC                                            | RRP FNMA 30YR U                                                                  | CUSIP: 000000000<br>LEI: VYVVCKR63DVZZN70PB21 | Short            | RA               | CORP              | US        |   -833252 | PA      | $-833251.55   | -0.11%            |  |  |  | No            |                  2 | On Loan: No      |
| AZORRA FINANCE                                                        | Azorra Finance Ltd                                                               | CUSIP: 05480AAB1<br>LEI: 254900MC1HXDAVUUP395 | Long             | DBT              | CORP              | KY        |    145000 | PA      | $150987.20    | 0.02%             | 2031-01-15      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| US BANCORP INVESTMENTS INC                                            | RRP INTERNATION                                                                  | CUSIP: 000000000<br>LEI: H85Z6XZP8B10ES0M2G89 | Short            | RA               | CORP              | US        |   -551375 | PA      | $-551375.00   | -0.08%            |  |  |  | No            |                  2 | On Loan: No      |
| Verus Securitization Trust                                            | Verus Securitization Trust 2022-INV2                                             | CUSIP: 924923AA3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    358659 | PA      | $357382.65    | 0.05%             | 2067-10-25      | Variable      | 6.79%                 | No            |                  2 | On Loan: No      |
| AMERICAN AIRLINES/AADVAN                                              | American Airlines Inc/AAdvantage Loyalty IP Ltd                                  | CUSIP: 00253XAB7<br>LEI: N/A                  | Long             | DBT              | CORP              | XX        |     35000 | PA      | $35133.89     | 0.00%             | 2029-04-20      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| IRON MOUNTAIN INC                                                     | Iron Mountain Inc                                                                | CUSIP: 000000000<br>LEI: SQL3F6CKNNBM3SQGHX24 | Long             | DBT              |  | US        |    100000 | PA      | $117664.06    | 0.02%             | 2034-01-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| LIMA METRO LINE 2 FIN LT                                              | Lima Metro Line 2 Finance Ltd                                                    | CUSIP: 532522AA7<br>LEI: 5493009BVQNQT1UKQ352 | Long             | DBT              | CORP              | KY        |   1947461 | PA      | $2013187.86   | 0.28%             | 2034-07-05      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| WILSONART LLC                                                         | Wilsonart LLC                                                                    | CUSIP: 97246JAA6<br>LEI: 549300SAZRUMYKDJBY14 | Long             | DBT              | CORP              | US        |    194000 | PA      | $188849.05    | 0.03%             | 2032-08-15      | Fixed         | 11.00%                | No            |                  2 | On Loan: No      |
| INVERSION ESCROW ISSUER                                               | Inversion Escrow Issuer LLC                                                      | CUSIP: 46150DAA0<br>LEI: 254900P6GHORGRVLKI95 | Long             | DBT              | CORP              | US        |    352000 | PA      | $346760.02    | 0.05%             | 2032-08-01      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| Whitebox CLO Ltd                                                      | Whitebox CLO III Ltd                                                             | CUSIP: 96467HAU0<br>LEI: 549300JXCQSPB1A61C68 | Long             | ABS-CBDO         | CORP              | KY        |    250000 | PA      | $252003.68    | 0.03%             | 2035-10-15      | Floating      | 7.17%                 | No            |                  2 | On Loan: No      |
| NAVOI MINING METALLURGIC                                              | Navoi Mining & Metallurgical Combinat                                            | CUSIP: 63890CAB0<br>LEI: N/A                  | Long             | DBT              | CORP              | UZ        |    200000 | PA      | $213558.00    | 0.03%             | 2031-10-17      | Fixed         | 6.95%                 | No            |                  2 | On Loan: No      |
| BOFA SECURITIES INC                                                   | RRP UNITED AIRL                                                                  | CUSIP: 000000000<br>LEI: 549300HN4UKV1E2R3U73 | Short            | RA               | CORP              | US        |    -86070 | PA      | $-86070.00    | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| ALBION FINANCING 1SARL /                                              | Albion Financing 1 SARL / Aggreko Holdings Inc                                   | CUSIP: 01330AAA4<br>LEI: N/A                  | Long             | DBT              | CORP              | LU        |    452000 | PA      | $467503.60    | 0.06%             | 2030-05-21      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| PERFORMANCE FOOD GROUP I                                              | Performance Food Group Inc                                                       | CUSIP: 71376LAE0<br>LEI: 549300OMUOGBYK0FFO76 | Long             | DBT              | CORP              | US        |     19000 | PA      | $18456.34     | 0.00%             | 2029-08-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| LGI HOMES INC                                                         | LGI Homes Inc                                                                    | CUSIP: 50187TAK2<br>LEI: 549300W02B4WNV8CV109 | Long             | DBT              | CORP              | US        |     69000 | PA      | $67373.33     | 0.01%             | 2032-11-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                            | Fannie Mae Pool                                                                  | CUSIP: 3140QQJA4<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    725923 | PA      | $737280.34    | 0.10%             | 2037-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ICAHN ENTERPRISES/FIN                                                 | Icahn Enterprises LP / Icahn Enterprises Finance Corp                            | CUSIP: 451102CK1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    149000 | PA      | $149658.22    | 0.02%             | 2029-11-15      | Fixed         | 10.00%                | No            |                  2 | On Loan: No      |
| BANK OF AMERICA CORP                                                  | Bank of America Corp                                                             | CUSIP: 06051GMW6<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |   2000000 | PA      | $2085088.40   | 0.29%             | 2036-05-09      | Fixed         | 5.46%                 | No            |                  2 | On Loan: No      |
| JELD-WEN INC                                                          | JELD-WEN Inc                                                                     | CUSIP: 47580PAA1<br>LEI: 549300XWE6NM0N1HFW16 | Long             | DBT              | CORP              | US        |    113000 | PA      | $95426.03     | 0.01%             | 2032-09-01      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| CLEAR CHANNEL OUTDOOR HO                                              | Clear Channel Outdoor Holdings Inc                                               | CUSIP: 18453HAF3<br>LEI: 254900XBEE6V1ENYS150 | Long             | DBT              | CORP              | US        |    383000 | PA      | $402159.96    | 0.06%             | 2030-04-01      | Fixed         | 7.88%                 | No            |                  2 | On Loan: No      |
| NISSAN MOTOR CO                                                       | Nissan Motor Co Ltd                                                              | CUSIP: 654922AC7<br>LEI: 353800DRBDH1LUTNAY26 | Long             | DBT              | CORP              | JP        |    200000 | PA      | $211652.57    | 0.03%             | 2032-07-17      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| Municipal Electric Authority of Georgia                               | MUNI ELEC AUTH OF GEORGIA                                                        | CUSIP: 626207YF5<br>LEI: JA0WNILDDF2KUPS83B16 | Long             | DBT              | MUN               | US        |    987000 | PA      | $1077956.53   | 0.15%             | 2057-04-01      | Fixed         | 6.64%                 | No            |                  2 | On Loan: No      |
| VISTRA OPERATIONS CO LLC                                              | Vistra Operations Co LLC                                                         | CUSIP: 92840VAR3<br>LEI: 549300ZH5GKBTJZ7NM23 | Long             | DBT              | CORP              | US        |    220000 | PA      | $230092.89    | 0.03%             | 2032-04-15      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| SERVICE CORP INTL                                                     | Service Corp International/US                                                    | CUSIP: 817565CF9<br>LEI: 549300RKVM2ME20JHZ15 | Long             | DBT              | CORP              | US        |      5000 | PA      | $4632.84      | 0.00%             | 2030-08-15      | Fixed         | 3.38%                 | No            |                  2 | On Loan: No      |
| CLARIV SCI HLD CORP                                                   | Clarivate Science Holdings Corp                                                  | CUSIP: 18064PAD1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    230000 | PA      | $217356.60    | 0.03%             | 2029-07-01      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| GCAT                                                                  | GCAT 2024-INV4 Trust                                                             | CUSIP: 367919AB3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    885652 | PA      | $889838.15    | 0.12%             | 2054-12-25      | Variable      | 5.50%                 | No            |                  2 | On Loan: No      |
| VIKING CRUISES LTD                                                    | Viking Cruises Ltd                                                               | CUSIP: 92676XAH0<br>LEI: 549300IJP90T4MV2GL84 | Long             | DBT              | CORP              | BM        |    363000 | PA      | $363254.75    | 0.05%             | 2033-10-15      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| IRON MOUNTAIN INC                                                     | Iron Mountain Inc                                                                | CUSIP: 000000000<br>LEI: SQL3F6CKNNBM3SQGHX24 | Long             | DBT              |  | US        |    120000 | PA      | $141196.87    | 0.02%             | 2034-01-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| RESIDEO FUNDING INC                                                   | Resideo Funding Inc                                                              | CUSIP: 76119LAB7<br>LEI: 5493000IFJ6XJKH66598 | Long             | DBT              | CORP              | US        |     42000 | PA      | $40118.82     | 0.01%             | 2029-09-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| BARCLAYS BANK PLC                                                     | SWAP/CDSWAP/SCDS: (ADLERR)                                                       | CUSIP: 000000000<br>LEI: G5GSEF7VJP5I7OUK5573 | N/A              | DCR              |  | XX        |      3249 | OU      | $214.33       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| POST HOLDINGS INC                                                     | Post Holdings Inc                                                                | CUSIP: 737446AX2<br>LEI: JM1I5YUAURL6DC8N1468 | Long             | DBT              | CORP              | US        |    133000 | PA      | $134106.96    | 0.02%             | 2034-10-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| State Board of Administration Finance Corp                            | FLORIDA ST BRD OF ADMIN FIN CORP REVENUE                                         | CUSIP: 341271AH7<br>LEI: 549300S34SOJ0RULXM35 | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1562434.05   | 0.21%             | 2034-07-01      | Fixed         | 5.53%                 | No            |                  2 | On Loan: No      |
| CCO HLDGS LLC/CAP CORP                                                | CCO Holdings LLC / CCO Holdings Capital Corp                                     | CUSIP: 1248EPCT8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1204000 | PA      | $1242269.14   | 0.17%             | 2031-03-01      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| Chicago Board of Trade                                                | US 5YR NOTE (CBT) DEC25                                                          | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DIR              |  | US        |        63 | NC      | $-1650.97     | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| SIRIUS XM RADIO LLC                                                   | Sirius XM Radio LLC                                                              | CUSIP: 82967NBL1<br>LEI: WP5O65E6BMU84LNO4227 | Long             | DBT              | CORP              | US        |     21000 | PA      | $20710.22     | 0.00%             | 2026-09-01      | Fixed         | 3.13%                 | No            |                  2 | On Loan: No      |
| FIRST QUANTUM MINERALS L                                              | First Quantum Minerals Ltd                                                       | CUSIP: 335934AX3<br>LEI: 549300I7UVBGWRYMYZ18 | Long             | DBT              | CORP              | CA        |    200000 | PA      | $206050.00    | 0.03%             | 2034-02-15      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| MOODY'S CORPORATION                                                   | Moody's Corp                                                                     | CUSIP: 615369AV7<br>LEI: 549300GCEDD8YCF5WU84 | Long             | DBT              | CORP              | US        |    350000 | PA      | $252828.90    | 0.03%             | 2041-08-19      | Fixed         | 2.75%                 | No            |                  2 | On Loan: No      |
| JANE STREET GRP/JSG FIN                                               | Jane Street Group / JSG Finance Inc                                              | CUSIP: 47077WAD0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     41000 | PA      | $41555.93     | 0.01%             | 2032-11-01      | Fixed         | 6.13%                 | No            |                  2 | On Loan: No      |
| ELLUCIAN HOLDINGS INC                                                 | Ellucian Holdings Inc                                                            | CUSIP: 289178AA3<br>LEI: 549300RP8NIJ7FY7OS79 | Long             | DBT              | CORP              | US        |    172000 | PA      | $174737.90    | 0.02%             | 2029-12-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| RAIZEN FUELS FINANCE                                                  | Raizen Fuels Finance SA                                                          | CUSIP: 75102XAB2<br>LEI: 52990010NH26VC32Q522 | Long             | DBT              | CORP              | LU        |    200000 | PA      | $194000.00    | 0.03%             | 2034-03-05      | Fixed         | 6.45%                 | No            |                  2 | On Loan: No      |
| MARKET BIDCO FINCO PLC                                                | Market Bidco Finco PLC                                                           | CUSIP: 000000000<br>LEI: 549300UGYX6EBVHRVG53 | Long             | DBT              | CORP              | GB        |    100000 | PA      | $115934.98    | 0.02%             | 2031-01-31      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| BARCLAYS BANK PLC                                                     | SWAP/CDSWAP/SCDS: (ADLERR)                                                       | CUSIP: 000000000<br>LEI: G5GSEF7VJP5I7OUK5573 | N/A              | DCR              |  | XX        |      9132 | OU      | $602.36       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| EMRLD BOR / EMRLD CO-ISS                                              | EMRLD Borrower LP / Emerald Co-Issuer Inc                                        | CUSIP: 26873CAB8<br>LEI: 98450099EE3A0ZD5F786 | Long             | DBT              | CORP              | US        |    122000 | PA      | $126715.79    | 0.02%             | 2031-07-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| PLAYTIKA HOLDING CORP                                                 | Playtika Holding Corp                                                            | CUSIP: 72815LAA5<br>LEI: 254900E35Z4TKA4UFG64 | Long             | DBT              | CORP              | US        |      7000 | PA      | $6426.49      | 0.00%             | 2029-03-15      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| LORCA TELECOM BONDCO                                                  | Lorca Telecom Bondco SA                                                          | CUSIP: 000000000<br>LEI: 9598004HFBAS82YM7X35 | Long             | DBT              | CORP              | ES        |    100000 | PA      | $122185.03    | 0.02%             | 2029-04-30      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| ACURIS FIN US/ACURIS FIN                                              | Acuris Finance US Inc / Acuris Finance SARL                                      | CUSIP: 00511BAE7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    200000 | PA      | $209000.00    | 0.03%             | 2029-08-01      | Fixed         | 9.00%                 | No            |                  2 | On Loan: No      |
| Buckeye Partners LP                                                   | Buckeye Partners LP                                                              | CUSIP: 118230AP6<br>LEI: 549300C1PQJLVEIUBK50 | Long             | DBT              | CORP              | US        |     59000 | PA      | $53633.16     | 0.01%             | 2044-10-15      | Fixed         | 5.60%                 | No            |                  2 | On Loan: No      |
| GSR Mortgage Loan Trust                                               | GSR Mortgage Loan Trust 2007-4F                                                  | CUSIP: 362669AK9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     72076 | PA      | $45523.11     | 0.01%             | 2037-07-25      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| CLEARWAY ENERGY OP LLC                                                | Clearway Energy Operating LLC                                                    | CUSIP: 18539UAC9<br>LEI: 549300Z3NFMM54NWBB87 | Long             | DBT              | CORP              | US        |     93000 | PA      | $91877.96     | 0.01%             | 2028-03-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| PENNYMAC FIN SVCS INC                                                 | PennyMac Financial Services Inc                                                  | CUSIP: 70932MAH0<br>LEI: 549300W1D516HBDEU871 | Long             | DBT              | CORP              | US        |     97000 | PA      | $98948.34     | 0.01%             | 2034-02-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| Boxer Parent Company Inc                                              | Boxer Parent Company Inc 2025 USD Term Loan B                                    | CUSIP: 05988HAQ0<br>LEI: 5493006T045HLTF7YX04 | Long             | LON              | CORP              | US        |    169295 | PA      | $168924.18    | 0.02%             | 2031-07-30      | Floating      | 7.20%                 | No            |                  2 | On Loan: No      |
| BUILDERS FIRSTSOURCE INC                                              | Builders FirstSource Inc                                                         | CUSIP: 12008RAS6<br>LEI: 549300W0SKP6L3H7DP63 | Long             | DBT              | CORP              | US        |     99000 | PA      | $101980.49    | 0.01%             | 2034-03-01      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| BOFA SECURITIES INC                                                   | RRP US BANCORP                                                                   | CUSIP: 000000000<br>LEI: 549300HN4UKV1E2R3U73 | Short            | RA               | CORP              | US        |  -1648250 | PA      | $-1648250.00  | -0.23%            |  |  |  | No            |                  2 | On Loan: No      |
| HUSKY INJECTION / TITAN                                               | Husky Injection Molding Systems Ltd / Titan Co-Borrower LLC                      | CUSIP: 44805RAA3<br>LEI: N/A                  | Long             | DBT              | CORP              | CA        |    537000 | PA      | $561267.55    | 0.08%             | 2029-02-15      | Fixed         | 9.00%                 | No            |                  2 | On Loan: No      |
| META PLATFORMS INC                                                    | Meta Platforms Inc                                                               | CUSIP: 30303M8W5<br>LEI: BQ4BKCS1HXDV9HN80Z93 | Long             | DBT              | CORP              | US        |    700000 | PA      | $694856.83    | 0.10%             | 2064-08-15      | Fixed         | 5.55%                 | No            |                  2 | On Loan: No      |
| RAND PARENT LLC                                                       | Rand Parent LLC                                                                  | CUSIP: 753272AA1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    127000 | PA      | $131961.26    | 0.02%             | 2030-02-15      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| CSC HOLDINGS LLC                                                      | CSC Holdings LLC                                                                 | CUSIP: 126307BM8<br>LEI: 3HG2WD2W22M120IUNG49 | Long             | DBT              | CORP              | US        |    400000 | PA      | $370303.16    | 0.05%             | 2028-05-15      | Fixed         | 11.25%                | No            |                  2 | On Loan: No      |
| FTAI AVIATION INVESTORS                                               | FTAI Aviation Investors LLC                                                      | CUSIP: 34960PAH4<br>LEI: 529900E7PUVK6BC8PE80 | Long             | DBT              | CORP              | US        |    154000 | PA      | $154965.89    | 0.02%             | 2033-04-15      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| Starwood Mortgage Residential Trust                                   | Starwood Mortgage Residential Trust 2020-3                                       | CUSIP: 85573MAD1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   2000000 | PA      | $1803719.00   | 0.25%             | 2065-04-25      | Variable      | 3.54%                 | No            |                  2 | On Loan: No      |
| SOTHEBY'S                                                             | Sotheby's                                                                        | CUSIP: 835898AH0<br>LEI: 549300P5BAAMQQ7VL735 | Long             | DBT              | CORP              | US        |    665000 | PA      | $663125.96    | 0.09%             | 2027-10-15      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| SAZERAC COMPANY INC                                                   | Sazerac Company Inc Term Loan B                                                  | CUSIP: 80583EAN6<br>LEI: 9QU0CG1O4LSOB6IFK895 | Long             | LON              | CORP              | US        |     72000 | PA      | $72400.32     | 0.01%             | 2032-07-09      | Floating      | 6.70%                 | No            |                  2 | On Loan: No      |
| Credit Suisse Mortgage Trust                                          | CSMC 2022-NQM5 Trust                                                             | CUSIP: 12663DAC8<br>LEI: 549300818AKCJ4Q9TD76 | Long             | ABS-MBS          | CORP              | US        |   2244569 | PA      | $2244301.46   | 0.31%             | 2067-05-25      | Variable      | 5.17%                 | No            |                  2 | On Loan: No      |
| ROMANIA                                                               | Romanian Government International Bond                                           | CUSIP: 000000000<br>LEI: 315700IASY927EDWBK92 | Long             | DBT              | NUSS              | RO        |     51000 | PA      | $61298.65     | 0.01%             | 2032-07-11      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| CROWN CASTLE INC                                                      | Crown Castle Inc                                                                 | CUSIP: 22822VBF7<br>LEI: 54930012H97VSM0I2R19 | Long             | DBT              |  | US        |    750000 | PA      | $760773.70    | 0.10%             | 2029-09-01      | Fixed         | 4.90%                 | No            |                  2 | On Loan: No      |
| Dewolf Park clo, ltd                                                  | Dewolf Park CLO Ltd                                                              | CUSIP: 25211AAL3<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    280000 | PA      | $279778.63    | 0.04%             | 2030-10-15      | Floating      | 7.43%                 | No            |                  2 | On Loan: No      |
| BARCLAYS BANK PLC                                                     | RRP BANK OF AME                                                                  | CUSIP: 000000000<br>LEI: G5GSEF7VJP5I7OUK5573 | Short            | RA               | CORP              | US        |  -3800000 | PA      | $-3800000.00  | -0.52%            |  |  |  | No            |                  2 | On Loan: No      |
| Madison Park Funding Ltd                                              | Madison Park Funding XLVIII Ltd                                                  | CUSIP: 55821WAA8<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    500000 | PA      | $500856.60    | 0.07%             | 2033-04-19      | Floating      | 10.84%                | No            |                  2 | On Loan: No      |
| ARCOSA INC                                                            | Arcosa Inc                                                                       | CUSIP: 039653AA8<br>LEI: 549300WFHLTCZV7D6V29 | Long             | DBT              | CORP              | US        |    117000 | PA      | $113769.17    | 0.02%             | 2029-04-15      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| MAGNOLIA OIL GAS/MAG FIN                                              | Magnolia Oil & Gas Operating LLC / Magnolia Oil & Gas Finance Corp               | CUSIP: 559665AB0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     78000 | PA      | $80044.77     | 0.01%             | 2032-12-01      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| MORGAN STANLEY & CO LLC                                               | RRP ACADIA HEAL                                                                  | CUSIP: 000000000<br>LEI: 9R7GPTSO7KV3UQJZQ078 | Short            | RA               | CORP              | US        |    -50000 | PA      | $-50000.00    | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| NOVELIS CORP                                                          | Novelis Corp                                                                     | CUSIP: 670001AN6<br>LEI: 549300G5F3W3B52WYL23 | Long             | DBT              | CORP              | US        |    338000 | PA      | $341493.47    | 0.05%             | 2033-08-15      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| Credit Suisse Mortgage Trust                                          | CSMC 2021-BHAR                                                                   | CUSIP: 12659VAJ9<br>LEI: 549300818AKCJ4Q9TD76 | Long             | ABS-MBS          | CORP              | US        |    300000 | PA      | $296531.25    | 0.04%             | 2038-11-15      | Floating      | 6.27%                 | No            |                  2 | On Loan: No      |
| NOBLE FINANCE II LLC                                                  | Noble Finance II LLC                                                             | CUSIP: 65505PAA5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    105000 | PA      | $108681.20    | 0.01%             | 2030-04-15      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| AMGEN INC                                                             | Amgen Inc                                                                        | CUSIP: 031162DR8<br>LEI: 62QBXGPJ34PQ72Z12S66 | Long             | DBT              | CORP              | US        |    600000 | PA      | $621504.49    | 0.09%             | 2033-03-02      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Voya CLO Ltd                                                          | Voya CLO 2018-2 Ltd                                                              | CUSIP: 92917JAC1<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   1000000 | PA      | $1000475.00   | 0.14%             | 2031-07-15      | Floating      | 5.83%                 | No            |                  2 | On Loan: No      |
| AON GLOBAL LTD                                                        | Aon Global Ltd                                                                   | CUSIP: 00185AAG9<br>LEI: VVT2B79I2Z4U3R6BY589 | Long             | DBT              | CORP              | GB        |    500000 | PA      | $441482.67    | 0.06%             | 2044-06-14      | Fixed         | 4.60%                 | No            |                  2 | On Loan: No      |
| SINCLAIR TELEVISION GROU                                              | Sinclair Television Group Inc                                                    | CUSIP: 829259BH2<br>LEI: 549300CQGEN0CH65UD62 | Long             | DBT              | CORP              | US        |    439000 | PA      | $450532.52    | 0.06%             | 2033-02-15      | Fixed         | 8.13%                 | No            |                  2 | On Loan: No      |
| NISSAN MOTOR CO                                                       | Nissan Motor Co Ltd                                                              | CUSIP: 654922AD5<br>LEI: 353800DRBDH1LUTNAY26 | Long             | DBT              | CORP              | JP        |    362000 | PA      | $388605.19    | 0.05%             | 2035-07-17      | Fixed         | 8.13%                 | No            |                  2 | On Loan: No      |
| GATES CORPORATION/DE                                                  | Gates Corp/DE                                                                    | CUSIP: 367398AA2<br>LEI: 984500F43C791F4C7894 | Long             | DBT              | CORP              | US        |     90000 | PA      | $93388.50     | 0.01%             | 2029-07-01      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF GUATEMALA                                                 | Guatemala Government Bond                                                        | CUSIP: 401494AS8<br>LEI: 529900QKDFFU9UWW5315 | Long             | DBT              | NUSS              | GT        |    200000 | PA      | $201200.00    | 0.03%             | 2032-04-24      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| ARDONAGH GROUP FINANCE                                                | Ardonagh Group Finance Ltd                                                       | CUSIP: 039956AA5<br>LEI: 254900SRT1BTAJ76NW62 | Long             | DBT              | CORP              | JE        |    936000 | PA      | $984011.46    | 0.13%             | 2032-02-15      | Fixed         | 8.88%                 | No            |                  2 | On Loan: No      |
| BOFA SECURITIES INC                                                   | RRP OUTFRONT ME                                                                  | CUSIP: 000000000<br>LEI: 549300HN4UKV1E2R3U73 | Short            | RA               | CORP              | US        |    -47768 | PA      | $-47767.50    | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| JPMORGAN CHASE & CO                                                   | JPMorgan Chase & Co                                                              | CUSIP: 46647PCR5<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $896920.26    | 0.12%             | 2032-11-08      | Fixed         | 2.55%                 | No            |                  2 | On Loan: No      |
| WELLS FARGO SECURITIES LLC                                            | RRP FNMA 15YR U                                                                  | CUSIP: 000000000<br>LEI: VYVVCKR63DVZZN70PB21 | Short            | RA               | CORP              | US        |  -1225270 | PA      | $-1225270.45  | -0.17%            |  |  |  | No            |                  2 | On Loan: No      |
| Republic of Poland Government International Bonds                     | Republic of Poland Government International Bonds                                | CUSIP: 731011AW2<br>LEI: 259400R9L8QEP0TPXS31 | Long             | DBT              | NUSS              | PL        |    119000 | PA      | $114902.83    | 0.02%             | 2053-04-04      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Verus Securitization Trust                                            | Verus Securitization Trust 2022-3                                                | CUSIP: 92538UAA9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   2353245 | PA      | $2265314.41   | 0.31%             | 2067-02-25      | Variable      | 4.13%                 | No            |                  2 | On Loan: No      |
| Aruba Investments Holdings LLC                                        | Aruba Investments Holdings LLC 2020 2nd Lien Term Loan                           | CUSIP: 04317JAF5<br>LEI: 254900GMIYFF4FZ0A357 | Long             | LON              | CORP              | US        |     64400 | PA      | $58346.40     | 0.01%             | 2028-11-24      | Floating      | 12.01%                | No            |                  2 | On Loan: No      |
| NORTHERN OIL & GAS INC                                                | Northern Oil & Gas Inc                                                           | CUSIP: 665531AL3<br>LEI: OKFF0PIZDDMNH4UCYE51 | Long             | DBT              | CORP              | US        |    296000 | PA      | $294828.81    | 0.04%             | 2033-10-15      | Fixed         | 7.88%                 | No            |                  2 | On Loan: No      |
| PETROBRAS GLOBAL FINANCE                                              | Petrobras Global Finance BV                                                      | CUSIP: 71645WAS0<br>LEI: 549300FNENFFSMO3GT38 | Long             | DBT              | CORP              | NL        |    140000 | PA      | $141320.90    | 0.02%             | 2041-01-27      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| GARDA WORLD SECURITY                                                  | Garda World Security Corp                                                        | CUSIP: 36485MAP4<br>LEI: 549300ZF1NDXLMCHNO20 | Long             | DBT              | CORP              | CA        |    695000 | PA      | $721428.53    | 0.10%             | 2032-11-15      | Fixed         | 8.38%                 | No            |                  2 | On Loan: No      |
| BARCLAYS CAPITAL INC                                                  | RRP PNC FINANCI                                                                  | CUSIP: 000000000<br>LEI: AC28XWWI3WIBK2824319 | Short            | RA               | CORP              | US        |    -79905 | PA      | $-79905.00    | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| WELLS FARGO SECURITIES LLC                                            | RRP FNMA 15YR U                                                                  | CUSIP: 000000000<br>LEI: VYVVCKR63DVZZN70PB21 | Short            | RA               | CORP              | US        |   -127495 | PA      | $-127494.63   | -0.02%            |  |  |  | No            |                  2 | On Loan: No      |
| Altice France SA                                                      | Altice France SA 2023 USD Term Loan B14                                          | CUSIP: 000000000<br>LEI: 5493001ZMCICV4N02J21 | Long             | LON              | CORP              | FR        |    252322 | PA      | $243490.53    | 0.03%             | 2028-08-15      | Floating      | 9.82%                 | No            |                  3 | On Loan: No      |
| UBS GROUP AG                                                          | UBS Group AG                                                                     | CUSIP: 902613AJ7<br>LEI: 549300SZJ9VS8SGXAN81 | Long             | DBT              | CORP              | CH        |   2000000 | PA      | $1969221.60   | 0.27%             | 2027-02-12      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| Onslow Bay Financial LLC                                              | OBX 2023-NQM5 Trust                                                              | CUSIP: 673919AL0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1064302 | PA      | $1072061.91   | 0.15%             | 2063-06-25      | Variable      | 6.57%                 | No            |                  2 | On Loan: No      |
| Birch Grove CLO Ltd.                                                  | Birch Grove CLO 3 Ltd                                                            | CUSIP: 09076VAY7<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    250000 | PA      | $252754.83    | 0.03%             | 2038-01-19      | Floating      | 7.18%                 | No            |                  2 | On Loan: No      |
| HILCORP ENERGY I/HILCORP                                              | Hilcorp Energy I LP / Hilcorp Finance Co                                         | CUSIP: 431318BE3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    141000 | PA      | $135564.37    | 0.02%             | 2034-05-15      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| ENTERPRISE PRODUCTS OPER                                              | Enterprise Products Operating LLC                                                | CUSIP: 29379VAG8<br>LEI: 5493004LGN656HWLDA30 | Long             | DBT              | CORP              | US        |   1400000 | PA      | $1513556.93   | 0.21%             | 2039-10-15      | Fixed         | 6.13%                 | No            |                  2 | On Loan: No      |
| AT&T Inc                                                              | AT&T Inc                                                                         | CUSIP: 00206RDF6<br>LEI: 549300Z40J86GGSTL398 | Long             | DBT              | CORP              | US        |    520000 | PA      | $545748.25    | 0.07%             | 2040-08-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| APH/APH2/APH3/AQUARIAN                                                | APH Somerset Investor 2 LLC / APH2 Somerset Investor 2 LLC / APH3 Somerset Inves | CUSIP: 00188QAA4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    140000 | PA      | $146106.80    | 0.02%             | 2029-11-01      | Fixed         | 7.88%                 | No            |                  2 | On Loan: No      |
| NGL ENRGY OP/FIN CORP                                                 | NGL Energy Operating LLC / NGL Energy Finance Corp                               | CUSIP: 62922LAC2<br>LEI: 5299005YSRP46BE8Z459 | Long             | DBT              | CORP              | US        |    189000 | PA      | $193785.10    | 0.03%             | 2029-02-15      | Fixed         | 8.13%                 | No            |                  2 | On Loan: No      |
| AMYNTA AGENCY/WARRANTY                                                | Amynta Agency Borrower Inc and Amynta Warranty Borrower Inc                      | CUSIP: 03238AAA3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    201000 | PA      | $205752.85    | 0.03%             | 2033-07-15      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| GFL ENVIRONMENTAL INC                                                 | GFL Environmental Inc                                                            | CUSIP: 36168QAL8<br>LEI: 894500E7NLBY9VZRT696 | Long             | DBT              | CORP              | CA        |    269000 | PA      | $262619.45    | 0.04%             | 2028-08-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| CHURCHILL DOWNS INC                                                   | Churchill Downs Inc                                                              | CUSIP: 171484AJ7<br>LEI: 529900FODTBQC8MIS994 | Long             | DBT              | CORP              | US        |    223000 | PA      | $228542.71    | 0.03%             | 2031-05-01      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| BLACKSTONE MORTGAGE TR                                                | Blackstone Mortgage Trust Inc                                                    | CUSIP: 09257WAD2<br>LEI: 549300OLDJ20R2Y2UW20 | Long             | DBT              |  | US        |    149000 | PA      | $145462.87    | 0.02%             | 2027-01-15      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| PLUSPETROL CAM/PLUS LOTE                                              | Pluspetrol Camisea SA / Pluspetrol Lote 56 SA                                    | CUSIP: 72941KAA4<br>LEI: N/A                  | Long             | DBT              | CORP              | PE        |     50000 | PA      | $53370.00     | 0.01%             | 2036-07-03      | Fixed         | 6.24%                 | No            |                  2 | On Loan: No      |
| BEAZER HOMES USA                                                      | Beazer Homes USA Inc                                                             | CUSIP: 07556QBR5<br>LEI: 549300DUPYT2T0F60I45 | Long             | DBT              | CORP              | US        |     28000 | PA      | $27982.51     | 0.00%             | 2027-10-15      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| SUNOCO LP                                                             | Sunoco LP                                                                        | CUSIP: 86765KAG4<br>LEI: 54930001NJU8E40NQ561 | Long             | DBT              | CORP              | US        |     75000 | PA      | $74350.64     | 0.01%             | 2034-03-15      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| ARCHROCK PARTNERS LP/FIN                                              | Archrock Partners LP / Archrock Partners Finance Corp                            | CUSIP: 03959KAD2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    157000 | PA      | $161047.77    | 0.02%             | 2032-09-01      | Fixed         | 6.63%                 | No            |                  2 | On Loan: No      |
| MAGNERA CORP                                                          | Magnera Corp                                                                     | CUSIP: 55939AAA5<br>LEI: 549300LDQLQBT38QDY28 | Long             | DBT              | CORP              | US        |     75000 | PA      | $70573.50     | 0.01%             | 2031-11-15      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| New Jersey Turnpike Authority                                         | NEW JERSEY ST TURNPIKE AUTH TURNPIKE REVENUE                                     | CUSIP: 646139X83<br>LEI: 5493005YN67D71KSMI84 | Long             | DBT              | MUN               | US        |   1750000 | PA      | $2026879.10   | 0.28%             | 2041-01-01      | Fixed         | 7.10%                 | No            |                  2 | On Loan: No      |
| CHOBANI LLC/FINANCE CORP                                              | Chobani LLC / Chobani Finance Corp Inc                                           | CUSIP: 17027NAC6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    934000 | PA      | $973925.70    | 0.13%             | 2029-07-01      | Fixed         | 7.63%                 | No            |                  2 | On Loan: No      |
| WELLS FARGO SECURITIES LLC                                            | RRP FHLMC 30YR                                                                   | CUSIP: 000000000<br>LEI: VYVVCKR63DVZZN70PB21 | Short            | RA               | CORP              | US        |  -1411431 | PA      | $-1411430.58  | -0.19%            |  |  |  | No            |                  2 | On Loan: No      |
| LOWE'S COS INC                                                        | Lowe's Cos Inc                                                                   | CUSIP: 548661DY0<br>LEI: WAFCR4OKGSC504WU3E95 | Long             | DBT              | CORP              | US        |   1600000 | PA      | $1408091.65   | 0.19%             | 2030-10-15      | Fixed         | 1.70%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                           | Freddie Mac REMICS                                                               | CUSIP: 3137BBHG8<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   1300461 | PA      | $1267534.17   | 0.17%             | 2044-06-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Sand Trust                                                            | Sandstone Peak II Ltd                                                            | CUSIP: 80013TAL7<br>LEI: 254900ZRRTOYR8JJD593 | Long             | ABS-CBDO         | CORP              | KY        |   1000000 | PA      | $1004501.00   | 0.14%             | 2038-07-20      | Floating      | 5.74%                 | No            |                  2 | On Loan: No      |
| ZIGGO BV                                                              | Ziggo BV                                                                         | CUSIP: 98955DAA8<br>LEI: 213800TQASLF9JXH5J59 | Long             | DBT              | CORP              | NL        |    200000 | PA      | $188771.36    | 0.03%             | 2030-01-15      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| ATI INC                                                               | ATI Inc                                                                          | CUSIP: 01741RAH5<br>LEI: ZW1LRE7C3H17O2ZN9B45 | Long             | DBT              | CORP              | US        |     97000 | PA      | $97185.46     | 0.01%             | 2027-12-01      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| BARCLAYS CAPITAL INC                                                  | RRP AMERICAN TO                                                                  | CUSIP: 000000000<br>LEI: AC28XWWI3WIBK2824319 | Short            | RA               | CORP              | US        |  -2231250 | PA      | $-2231250.00  | -0.31%            |  |  |  | No            |                  2 | On Loan: No      |
| TRANSDIGM INC                                                         | TransDigm Inc                                                                    | CUSIP: 893647BW6<br>LEI: 88Q84GB3X55CF5OC7582 | Long             | DBT              | CORP              | US        |    744000 | PA      | $752245.75    | 0.10%             | 2033-01-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Murphy Oil Corp                                                       | Murphy Oil Corp                                                                  | CUSIP: 626717AG7<br>LEI: QBKYQD0ODE7DC7PDIN91 | Long             | DBT              | CORP              | US        |     18000 | PA      | $15738.92     | 0.00%             | 2042-12-01      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| Burlington Resources LLC                                              | Burlington Resources LLC                                                         | CUSIP: 20825VAB8<br>LEI: 0FJ5X7MVCTSE8OEPQE56 | Long             | DBT              | CORP              | US        |    685000 | PA      | $736510.16    | 0.10%             | 2036-10-15      | Fixed         | 5.95%                 | No            |                  2 | On Loan: No      |
| PENNYMAC FIN SVCS INC                                                 | PennyMac Financial Services Inc                                                  | CUSIP: 70932MAE7<br>LEI: 549300W1D516HBDEU871 | Long             | DBT              | CORP              | US        |    128000 | PA      | $133281.54    | 0.02%             | 2030-11-15      | Fixed         | 7.13%                 | No            |                  2 | On Loan: No      |
| BALL CORP                                                             | Ball Corp                                                                        | CUSIP: 000000000<br>LEI: 0BGI85ALH27ZJP15DY16 | Long             | DBT              | CORP              | US        |    100000 | PA      | $120083.92    | 0.02%             | 2032-07-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| ENPRO INC                                                             | Enpro Inc                                                                        | CUSIP: 29355XAH0<br>LEI: 549300Y5CFT2LKCFDN54 | Long             | DBT              | CORP              | US        |     85000 | PA      | $86873.68     | 0.01%             | 2033-06-01      | Fixed         | 6.13%                 | No            |                  2 | On Loan: No      |
| BEACH ACQUISITION BIDCO                                               | Beach Acquisition Bidco LLC                                                      | CUSIP: 07337JAC1<br>LEI: 254900F2FNX3GBTB6202 | Long             | DBT              | CORP              | US        |    653000 | PA      | $704366.29    | 0.10%             | 2033-07-15      | Fixed         | 10.00%                | No            |                  2 | On Loan: No      |
| CLEAR CHANNEL OUTDOOR HO                                              | Clear Channel Outdoor Holdings Inc                                               | CUSIP: 18453HAD8<br>LEI: 254900XBEE6V1ENYS150 | Long             | DBT              | CORP              | US        |    604000 | PA      | $586612.89    | 0.08%             | 2029-06-01      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| VOLCAN CIA MINERA SAA-CM                                              | Volcan Cia Minera SAA                                                            | CUSIP: 92863UAC0<br>LEI: 549300XKJ91C4SZLG750 | Long             | DBT              | CORP              | PE        |     43000 | PA      | $44603.90     | 0.01%             | 2030-01-24      | Fixed         | 8.75%                 | No            |                  2 | On Loan: No      |
| Ballyrock Ltd                                                         | Ballyrock CLO 28 Ltd                                                             | CUSIP: 05876HAE2<br>LEI: 2549006FL37LMQQU3H44 | Long             | ABS-CBDO         | CORP              | KY        |    500000 | PA      | $501749.90    | 0.07%             | 2038-01-20      | Floating      | 6.03%                 | No            |                  2 | On Loan: No      |
| SERVICE CORP INTL                                                     | Service Corp International/US                                                    | CUSIP: 817565CG7<br>LEI: 549300RKVM2ME20JHZ15 | Long             | DBT              | CORP              | US        |     20000 | PA      | $18856.88     | 0.00%             | 2031-05-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| MEDLINE BORROWER LP                                                   | Medline Borrower LP                                                              | CUSIP: 62482BAB8<br>LEI: 254900QT3R363TVK6F09 | Long             | DBT              | CORP              | US        |    828000 | PA      | $820840.45    | 0.11%             | 2029-10-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| AbbVie Inc                                                            | AbbVie Inc                                                                       | CUSIP: 00287YAY5<br>LEI: FR5LCKFTG8054YNNRU85 | Long             | DBT              | CORP              | US        |    500000 | PA      | $497698.11    | 0.07%             | 2026-05-14      | Fixed         | 3.20%                 | No            |                  2 | On Loan: No      |
| FINASTRA USA INC                                                      | FINASTRA USA INC 2025 1st LIEN TERM LOAN                                         | CUSIP: 31772YAD8<br>LEI: 549300ZB2RO6QC7YTK71 | Long             | LON              | CORP              | US        |    444000 | PA      | $441939.84    | 0.06%             | 2032-09-15      | Floating      | 8.04%                 | No            |                  2 | On Loan: No      |
| IBM CORP                                                              | International Business Machines Corp                                             | CUSIP: 459200KU4<br>LEI: VGRQXHF3J8VDLUA7XE92 | Long             | DBT              | CORP              | US        |    500000 | PA      | $500017.01    | 0.07%             | 2032-07-27      | Fixed         | 4.40%                 | No            |                  2 | On Loan: No      |
| EFESTO BIDCO SPA/US LLC                                               | Efesto Bidco SpA Efesto US LLC                                                   | CUSIP: 28201XAB1<br>LEI: N/A                  | Long             | DBT              | CORP              | IT        |    701000 | PA      | $713337.60    | 0.10%             | 2032-02-15      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| Sterling Bank Trust                                                   | Sterling COOFS Trust 2004-2                                                      | CUSIP: 859245AB8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    264301 | PA      | $0.03         | 0.00%             | 2030-03-30      | Fixed         | 2.08%                 | No            |                  3 | On Loan: No      |
| STANDARD BUILDING SOLUTI                                              | Standard Building Solutions Inc                                                  | CUSIP: 853191AA2<br>LEI: 54930064UHXCIUWVI755 | Long             | DBT              | CORP              | US        |    264000 | PA      | $270869.55    | 0.04%             | 2032-08-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| ROCKETMTGE CO-ISSUER INC                                              | Rocket Mortgage LLC / Rocket Mortgage Co-Issuer Inc                              | CUSIP: 74841CAB7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     16000 | PA      | $14941.50     | 0.00%             | 2031-03-01      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| BAUSCH HEALTH COS INC                                                 | Bausch Health Cos Inc                                                            | CUSIP: 071734AN7<br>LEI: B3BS7ACMDUWISF18KY76 | Long             | DBT              | CORP              | CA        |     32000 | PA      | $28640.00     | 0.00%             | 2028-06-01      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| MORGAN STANLEY                                                        | Morgan Stanley                                                                   | CUSIP: 61747YFQ3<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |   3000000 | PA      | $3132643.68   | 0.43%             | 2030-04-18      | Fixed         | 5.66%                 | No            |                  2 | On Loan: No      |
| Howden Group Holdings Ltd                                             | Howden Group Holdings Ltd 2024 USD Term Loan B                                   | CUSIP: 000000000<br>LEI: 875500V3HPKZIQP10J32 | Long             | LON              | CORP              | GB        |     16913 | PA      | $16897.36     | 0.00%             | 2030-04-18      | Floating      | 7.66%                 | No            |                  2 | On Loan: No      |
| HOWARD MIDSTREAM ENERGY                                               | Howard Midstream Energy Partners LLC                                             | CUSIP: 442722AD6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    182000 | PA      | $185562.72    | 0.03%             | 2034-01-15      | Fixed         | 6.63%                 | No            |                  2 | On Loan: No      |
| FIRST QUANTUM MINERALS L                                              | First Quantum Minerals Ltd                                                       | CUSIP: 335934AW5<br>LEI: 549300I7UVBGWRYMYZ18 | Long             | DBT              | CORP              | CA        |    200000 | PA      | $211079.00    | 0.03%             | 2033-03-01      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| BOFA SECURITIES INC                                                   | RRP SBA COMMUNI                                                                  | CUSIP: 000000000<br>LEI: 549300HN4UKV1E2R3U73 | Short            | RA               | CORP              | US        |   -140828 | PA      | $-140827.50   | -0.02%            |  |  |  | No            |                  2 | On Loan: No      |
| TGNR INTERMEDIATE HOLDIN                                              | TGNR Intermediate Holdings LLC                                                   | CUSIP: 77289KAA3<br>LEI: 5493007AZNVKZ5HEMT23 | Long             | DBT              | CORP              | US        |    119000 | PA      | $116446.80    | 0.02%             | 2029-10-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| GRAY MEDIA INC                                                        | Gray Media Inc                                                                   | CUSIP: 389375AN6<br>LEI: 529900TM5726KDN7UU35 | Long             | DBT              | CORP              | US        |    251000 | PA      | $256431.14    | 0.04%             | 2032-07-15      | Fixed         | 9.63%                 | No            |                  2 | On Loan: No      |
| JETBLUE AIRWAYS/LOYALTY                                               | JetBlue Airways Corp / JetBlue Loyalty LP                                        | CUSIP: 476920AA1<br>LEI: N/A                  | Long             | DBT              | CORP              | XX        |    150000 | PA      | $152140.80    | 0.02%             | 2031-09-20      | Fixed         | 9.88%                 | No            |                  2 | On Loan: No      |
| HERTZ CORP/THE                                                        | Hertz Corp/The                                                                   | CUSIP: 428040DC0<br>LEI: 549300PD0C69OJ0NLB27 | Long             | DBT              | CORP              | US        |     81000 | PA      | $85871.91     | 0.01%             | 2029-07-15      | Fixed         | 12.63%                | No            |                  2 | On Loan: No      |
| Apple Inc                                                             | Apple Inc                                                                        | CUSIP: 037833DD9<br>LEI: HWUPKR0MPOU8FGXBT394 | Long             | DBT              | CORP              | US        |    700000 | PA      | $562901.33    | 0.08%             | 2047-09-12      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| CITIGROUP GLOBAL MARKETS INC                                          | RRP BANK OF AME                                                                  | CUSIP: 000000000<br>LEI: MBNUM2BPBDO7JBLYG310 | Short            | RA               | CORP              | US        |   -486250 | PA      | $-486250.00   | -0.07%            |  |  |  | No            |                  2 | On Loan: No      |
| CSC Holdings LLC                                                      | CSC Holdings LLC                                                                 | CUSIP: 126307AS6<br>LEI: 3HG2WD2W22M120IUNG49 | Long             | DBT              | CORP              | US        |    607000 | PA      | $532147.55    | 0.07%             | 2028-02-01      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| New York State Dormitory Authority                                    | NEW YORK ST DORM AUTH ST PERSONAL INCOME TAX REVENUE                             | CUSIP: 64990FMT8<br>LEI: 549300C8XO7EXTX2XU71 | Long             | DBT              | MUN               | US        |   1100000 | PA      | $1138177.57   | 0.16%             | 2039-03-15      | Fixed         | 5.63%                 | No            |                  2 | On Loan: No      |
| PRKCM Trust                                                           | PRKCM 2023-AFC3 Trust                                                            | CUSIP: 693984AA4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1249503 | PA      | $1261673.62   | 0.17%             | 2058-09-25      | Variable      | 6.58%                 | No            |                  2 | On Loan: No      |
| NATWEST GROUP PLC                                                     | NatWest Group PLC                                                                | CUSIP: 639057AF5<br>LEI: 2138005O9XJIJN4JPN90 | Long             | DBT              | CORP              | GB        |   1000000 | PA      | $1024835.20   | 0.14%             | 2028-09-30      | Fixed         | 5.52%                 | No            |                  2 | On Loan: No      |
| APTIV SWISS HOLDINGS LTD                                              | Aptiv Swiss Holdings Ltd                                                         | CUSIP: 03835VAH9<br>LEI: 254900HTTDFIJZ32GX53 | Long             | DBT              | CORP              | JE        |    465000 | PA      | $425190.69    | 0.06%             | 2049-03-15      | Fixed         | 5.40%                 | No            |                  2 | On Loan: No      |
| BOFA SECURITIES INC                                                   | RRP MEDLINE BOR                                                                  | CUSIP: 000000000<br>LEI: 549300HN4UKV1E2R3U73 | Short            | RA               | CORP              | US        |   -633420 | PA      | $-633420.00   | -0.09%            |  |  |  | No            |                  2 | On Loan: No      |
| Chicago Board of Trade                                                | US 10YR NOTE (CBT)DEC25                                                          | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DIR              |  | US        |      -136 | NC      | $-111782.00   | -0.02%            |  |  |  | No            |                  1 | On Loan: No      |
| Bryant Park Funding Ltd                                               | Bryant Park Funding 2024-22 Ltd                                                  | CUSIP: 11766CAG9<br>LEI: 5493000N8L82QL1KEO96 | Long             | ABS-CBDO         | CORP              | KY        |   1200000 | PA      | $1208667.96   | 0.17%             | 2037-04-15      | Floating      | 6.92%                 | No            |                  2 | On Loan: No      |
| Applied Systems Inc                                                   | Applied Systems Inc 2024 2nd Lien Term Loan                                      | CUSIP: 03827FBC4<br>LEI: 549300NSKGF0SY5SWQ62 | Long             | LON              | CORP              | US        |     97704 | PA      | $99800.73     | 0.01%             | 2032-02-23      | Floating      | 8.50%                 | No            |                  2 | On Loan: No      |
| SBA COMMUNICATIONS CORP                                               | SBA Communications Corp                                                          | CUSIP: 78410GAG9<br>LEI: 5299001HX8ZN8Y8QIT49 | Long             | DBT              |  | US        |    198000 | PA      | $185191.72    | 0.03%             | 2029-02-01      | Fixed         | 3.13%                 | No            |                  2 | On Loan: No      |
| Sabre GLBL Inc                                                        | Sabre GLBL Inc 2021 Term Loan B2                                                 | CUSIP: 78571YBF6<br>LEI: F2TJC7HPPHLHU1AQMP98 | Long             | LON              | CORP              | US        |      6240 | PA      | $5896.37      | 0.00%             | 2027-12-17      | Floating      | 7.78%                 | No            |                  2 | On Loan: No      |
| B&G FOODS INC                                                         | B&G Foods Inc                                                                    | CUSIP: 05508WAC9<br>LEI: 549300TRW1LZMDJZAQ78 | Long             | DBT              | CORP              | US        |     48000 | PA      | $46507.77     | 0.01%             | 2028-09-15      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| MORGAN STANLEY                                                        | Morgan Stanley                                                                   | CUSIP: 61747YFA8<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |   3000000 | PA      | $3064643.88   | 0.42%             | 2029-02-01      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| Nelnet Student Loan Trust                                             | Nelnet Student Loan Trust 2021-A                                                 | CUSIP: 64035DAG1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    460000 | PA      | $418421.01    | 0.06%             | 2062-04-20      | Fixed         | 4.93%                 | No            |                  2 | On Loan: No      |
| STANDARD INDUSTRI INC/NY                                              | Standard Industries Inc/NY                                                       | CUSIP: 853496AH0<br>LEI: 54930064UHXCIUWVI755 | Long             | DBT              | CORP              | US        |     28000 | PA      | $25355.90     | 0.00%             | 2031-01-15      | Fixed         | 3.38%                 | No            |                  2 | On Loan: No      |
| TRANSOCEAN TITAN FIN LTD                                              | Transocean Titan Financing Ltd                                                   | CUSIP: 89386MAA6<br>LEI: N/A                  | Long             | DBT              | CORP              | KY        |     44524 | PA      | $45619.18     | 0.01%             | 2028-02-01      | Fixed         | 8.38%                 | No            |                  2 | On Loan: No      |
| AT&T INC                                                              | AT&T Inc                                                                         | CUSIP: 00206RKJ0<br>LEI: 549300Z40J86GGSTL398 | Long             | DBT              | CORP              | US        |    500000 | PA      | $345851.48    | 0.05%             | 2053-09-15      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| BEACH ACQUISITION BIDCO                                               | Beach Acquisition Bidco LLC                                                      | CUSIP: 000000000<br>LEI: 254900F2FNX3GBTB6202 | Long             | DBT              | CORP              | US        |    270000 | PA      | $324944.90    | 0.04%             | 2032-07-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| COLT Funding LLC                                                      | COLT 2024-INV4 Mortgage Loan Trust                                               | CUSIP: 19688QAA9<br>LEI: 2138008UGM66WOAUY633 | Long             | ABS-MBS          | CORP              | US        |   1141811 | PA      | $1152344.75   | 0.16%             | 2069-05-25      | Variable      | 5.61%                 | No            |                  2 | On Loan: No      |
| LEVEL 3 FINANCING INC                                                 | Level 3 Financing Inc                                                            | CUSIP: 527298CB7<br>LEI: 254900AE5FEFIJOXWL19 | Long             | DBT              | CORP              | US        |    650500 | PA      | $611535.05    | 0.08%             | 2029-06-15      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| BLOCK INC                                                             | Block Inc                                                                        | CUSIP: 852234AU7<br>LEI: 549300OHIIUWSTIZME52 | Long             | DBT              | CORP              | US        |    313000 | PA      | $320524.52    | 0.04%             | 2033-08-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| BX Trust                                                              | BX Commercial Mortgage Trust 2024-MF                                             | CUSIP: 05612EAE8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    451582 | PA      | $452428.54    | 0.06%             | 2039-02-15      | Floating      | 6.09%                 | No            |                  2 | On Loan: No      |
| CACI INTERNATIONAL INC                                                | CACI International Inc                                                           | CUSIP: 127190AE6<br>LEI: SYRPI2D1O9WRTS2WX210 | Long             | DBT              | CORP              | US        |    180000 | PA      | $185679.12    | 0.03%             | 2033-06-15      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| DUKE ENERGY CAROLINAS                                                 | Duke Energy Carolinas LLC                                                        | CUSIP: 26442CAA2<br>LEI: MWIUSDMN17TCR56VW396 | Long             | DBT              | CORP              | US        |    640000 | PA      | $687700.35    | 0.09%             | 2037-06-01      | Fixed         | 6.10%                 | No            |                  2 | On Loan: No      |
| NIDDA HEALTHCARE HOLDING                                              | Nidda Healthcare Holding GmbH                                                    | CUSIP: 000000000<br>LEI: 549300Q89C4WAO6L0L19 | Long             | DBT              | CORP              | DE        |    100000 | PA      | $122389.60    | 0.02%             | 2030-02-21      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| LUNA 1.5 SARL                                                         | Luna 1.5 Sarl                                                                    | CUSIP: 000000000<br>LEI: 64884UZ60Y77J5XK5C41 | Long             | DBT              | CORP              | LU        |    100000 | PA      | $121663.94    | 0.02%             | 2032-07-01      | Fixed         | 10.50%                | No            |                  2 | On Loan: No      |
| KRUNG THAI BANK/CAYMAN                                                | Krung Thai Bank PCL/Cayman Islands                                               | CUSIP: 000000000<br>LEI: 54930007ZQMYCRFQGE36 | Long             | DBT              | CORP              | TH        |    252000 | PA      | $250582.50    | 0.03%             | 2026-03-25      | Fixed         | 4.40%                 | No            |                  2 | On Loan: No      |
| GoldenTree Loan Management US CLO, LTD                                | Goldentree Loan Management US Clo 11 Ltd                                         | CUSIP: 38138KAL4<br>LEI: 549300TMEEKUOKVHYV65 | Long             | ABS-CBDO         | CORP              | KY        |    470000 | PA      | $470377.03    | 0.06%             | 2034-10-20      | Floating      | 5.41%                 | No            |                  2 | On Loan: No      |
| MILLROSE PROPERTIES INC                                               | Millrose Properties Inc                                                          | CUSIP: 601137AB8<br>LEI: N/A                  | Long             | DBT              |  | US        |    166000 | PA      | $166433.86    | 0.02%             | 2032-09-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| BRAND INDUSTRIAL SERVICE                                              | Brand Industrial Services Inc                                                    | CUSIP: 104931AA8<br>LEI: 549300B658W2BPDQMW42 | Long             | DBT              | CORP              | US        |    675000 | PA      | $672848.71    | 0.09%             | 2030-08-01      | Fixed         | 10.38%                | No            |                  2 | On Loan: No      |
| FORTREA HOLDINGS INC                                                  | Fortrea Holdings Inc                                                             | CUSIP: 34965KAA5<br>LEI: 5493000FIVFABOVCDU97 | Long             | DBT              | CORP              | US        |     63000 | PA      | $59657.24     | 0.01%             | 2030-07-01      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| NatWest Markets PLC                                                   | PURCHASED USD / SOLD EUR                                                         | CUSIP: 000000000<br>LEI: RR3QWICWWIPCS8A4S074 | N/A              | DFE              |  | US        |         1 | NC      | $-753.96      | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| CARNIVAL CORP                                                         | Carnival Corp                                                                    | CUSIP: 143658BX9<br>LEI: F1OF2ZSX47CR0BCWA982 | Long             | DBT              | CORP              | PA        |    506000 | PA      | $518668.22    | 0.07%             | 2033-02-15      | Fixed         | 6.13%                 | No            |                  2 | On Loan: No      |
| Barclays Mortgage Loan Trust                                          | Barclays Mortgage Loan Trust 2025-NQM3                                           | CUSIP: 06745VAA6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    956969 | PA      | $965608.36    | 0.13%             | 2065-05-25      | Variable      | 5.64%                 | No            |                  2 | On Loan: No      |
| STANDARD BUILDING SOLUTI                                              | Standard Building Solutions Inc                                                  | CUSIP: 853191AC8<br>LEI: 54930064UHXCIUWVI755 | Long             | DBT              | CORP              | US        |    374000 | PA      | $379006.05    | 0.05%             | 2033-08-01      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| BLOCK INC                                                             | Block Inc                                                                        | CUSIP: 852234AS2<br>LEI: 549300OHIIUWSTIZME52 | Long             | DBT              | CORP              | US        |    386000 | PA      | $399512.32    | 0.05%             | 2032-05-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Onslow Bay Financial LLC                                              | OBX 2022-NQM9 Trust                                                              | CUSIP: 67118LAA9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    385677 | PA      | $384768.67    | 0.05%             | 2062-09-25      | Variable      | 6.45%                 | No            |                  2 | On Loan: No      |
| OCP CLO Ltd                                                           | OCP CLO 2024-38 Ltd                                                              | CUSIP: 67120KAA7<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   1000000 | PA      | $1003018.10   | 0.14%             | 2038-01-21      | Floating      | 5.66%                 | No            |                  2 | On Loan: No      |
| GARDA WORLD SECURITY                                                  | Garda World Security Corp                                                        | CUSIP: 36485MAN9<br>LEI: 549300ZF1NDXLMCHNO20 | Long             | DBT              | CORP              | CA        |    268000 | PA      | $277806.92    | 0.04%             | 2032-08-01      | Fixed         | 8.25%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                           | Freddie Mac Pool                                                                 | CUSIP: 3142GVGD7<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   1447057 | PA      | $1486444.42   | 0.20%             | 2055-08-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                           | Freddie Mac REMICS                                                               | CUSIP: 3137HJX51<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   4494388 | PA      | $4526412.80   | 0.62%             | 2055-02-25      | Floating      | 5.76%                 | No            |                  2 | On Loan: No      |
| Birch Grove CLO Ltd.                                                  | Birch Grove CLO 6 Ltd                                                            | CUSIP: 09077FAL9<br>LEI: 254900HENKWLW4T9SW86 | Long             | ABS-CBDO         | CORP              | JE        |   1500000 | PA      | $1505287.50   | 0.21%             | 2037-07-20      | Floating      | 5.75%                 | No            |                  2 | On Loan: No      |
| BAT CAPITAL CORP                                                      | BAT Capital Corp                                                                 | CUSIP: 05526DBJ3<br>LEI: 2138005GYEXN7XRHFA84 | Long             | DBT              | CORP              | US        |    394000 | PA      | $390964.41    | 0.05%             | 2026-09-06      | Fixed         | 3.22%                 | No            |                  2 | On Loan: No      |
| LIBERTY COSTA RICA SR SF                                              | Liberty Costa Rica Senior Secured Finance                                        | CUSIP: 530371AA1<br>LEI: 549300W6O2PHTPCYQ751 | Long             | DBT              | CORP              | KY        |    200000 | PA      | $213200.00    | 0.03%             | 2031-01-15      | Fixed         | 10.88%                | No            |                  2 | On Loan: No      |
| United States Treasury                                                | U.S. Treasury Notes                                                              | CUSIP: 91282CJF9<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   7800000 | PA      | $8077875.00   | 1.10%             | 2028-10-31      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| HA SUSTAINABLE INF CAP                                                | HA Sustainable Infrastructure Capital Inc                                        | CUSIP: 41068XAF7<br>LEI: 254900ZZRL7MWL1X8E92 | Long             | DBT              | CORP              | US        |    109000 | PA      | $110932.27    | 0.02%             | 2034-07-01      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| PROLOGIS LP                                                           | Prologis LP                                                                      | CUSIP: 74340XBT7<br>LEI: GL16H1DHB0QSHP25F723 | Long             | DBT              |  | US        |   1000000 | PA      | $1006461.63   | 0.14%             | 2033-01-15      | Fixed         | 4.63%                 | No            |                  2 | On Loan: No      |
| BARCLAYS BANK PLC                                                     | RRP VERIZON COM                                                                  | CUSIP: 000000000<br>LEI: G5GSEF7VJP5I7OUK5573 | Short            | RA               | CORP              | US        |  -3918750 | PA      | $-3918750.00  | -0.54%            |  |  |  | No            |                  2 | On Loan: No      |
| EXCELERATE ENERGY LP                                                  | Excelerate Energy LP                                                             | CUSIP: 30069UAA6<br>LEI: LGL4IE90TNTFYJ55BK06 | Long             | DBT              | CORP              | US        |    100000 | PA      | $106446.90    | 0.01%             | 2030-05-15      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| UBS Commercial Mortgage Trust                                         | UBS Commercial Mortgage Trust 2019-C18                                           | CUSIP: 90278PBA7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1200000 | PA      | $1119403.08   | 0.15%             | 2052-12-15      | Fixed         | 3.04%                 | No            |                  2 | On Loan: No      |
| CLARIV SCI HLD CORP                                                   | Clarivate Science Holdings Corp                                                  | CUSIP: 18064PAC3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    585000 | PA      | $562976.33    | 0.08%             | 2028-07-01      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| MELCO RESORTS FINANCE                                                 | Melco Resorts Finance Ltd                                                        | CUSIP: 58547DAE9<br>LEI: 5493000FQDBWKDBZEF60 | Long             | DBT              | CORP              | KY        |    200000 | PA      | $199900.00    | 0.03%             | 2028-07-21      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| FTAI AVIATION INVESTORS                                               | FTAI Aviation Investors LLC                                                      | CUSIP: 34960PAD3<br>LEI: 529900E7PUVK6BC8PE80 | Long             | DBT              | CORP              | US        |      9000 | PA      | $9001.43      | 0.00%             | 2028-05-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| SEAGATE DATA STOR                                                     | Seagate Data Storage Technology Pte Ltd                                          | CUSIP: 81180LAA3<br>LEI: N/A                  | Long             | DBT              | CORP              | SG        |    132000 | PA      | $134298.91    | 0.02%             | 2030-07-15      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| PRA GROUP EUROPE HOLDING                                              | PRA Group Europe Holding II Sarl                                                 | CUSIP: 000000000<br>LEI: 635400CWOMLGBIP4GA24 | Long             | DBT              | CORP              | LU        |    100000 | PA      | $115673.34    | 0.02%             | 2032-09-30      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| WYNN MACAU LTD                                                        | Wynn Macau Ltd                                                                   | CUSIP: 98313RAE6<br>LEI: 254900NMDQ8ENTHU1I31 | Long             | DBT              | CORP              | KY        |    200000 | PA      | $195630.00    | 0.03%             | 2029-12-15      | Fixed         | 5.13%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                            | Fannie Mae Pool                                                                  | CUSIP: 3140QQ6J9<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   1174358 | PA      | $1207103.53   | 0.17%             | 2038-01-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| NISSAN MOTOR CO                                                       | Nissan Motor Co Ltd                                                              | CUSIP: 000000000<br>LEI: 353800DRBDH1LUTNAY26 | Long             | DBT              | CORP              | JP        |    100000 | PA      | $119650.66    | 0.02%             | 2029-07-17      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| CLARIOS GLOBAL LP/US FIN                                              | Clarios Global LP / Clarios US Finance Co                                        | CUSIP: 18060TAE5<br>LEI: N/A                  | Long             | DBT              | CORP              | XX        |    409000 | PA      | $418063.44    | 0.06%             | 2032-09-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| Massachusetts Educational Financing Authority                         | MASSACHUSETTS ST EDUCTNL FING AUTH                                               | CUSIP: 57563RUF4<br>LEI: 5493007K5OP7V6CL0Y88 | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2564427.58   | 0.35%             | 2050-07-01      | Fixed         | 6.17%                 | No            |                  2 | On Loan: No      |
| ARENA LUX FIN SARL                                                    | Arena Luxembourg Finance Sarl                                                    | CUSIP: 000000000<br>LEI: 222100KX2LPK5KRSIG74 | Long             | DBT              | CORP              | LU        |    100000 | PA      | $118132.46    | 0.02%             | 2030-05-01      | Floating      | 4.52%                 | No            |                  2 | On Loan: No      |
| BALTIMORE GAS & ELECTRIC                                              | Baltimore Gas and Electric Co                                                    | CUSIP: 059165EJ5<br>LEI: 88V8C2WYSOD1SPSSLH72 | Long             | DBT              | CORP              | US        |    500000 | PA      | $386759.35    | 0.05%             | 2047-08-15      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| LCM INVESTMENTS HOLDINGS                                              | LCM Investments Holdings II LLC                                                  | CUSIP: 50190EAC8<br>LEI: 549300P5V78NNQTG4428 | Long             | DBT              | CORP              | US        |    260000 | PA      | $274977.04    | 0.04%             | 2031-08-01      | Fixed         | 8.25%                 | No            |                  2 | On Loan: No      |
| Aetna Inc                                                             | Aetna Inc                                                                        | CUSIP: 00817YAJ7<br>LEI: 549300QKBENKLBXQ8968 | Long             | DBT              | CORP              | US        |    575000 | PA      | $497072.69    | 0.07%             | 2042-05-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| VITAL ENERGY INC                                                      | Vital Energy Inc                                                                 | CUSIP: 516806AK2<br>LEI: 549300X0PTWU2QSLSL14 | Long             | DBT              | CORP              | US        |    349000 | PA      | $338787.32    | 0.05%             | 2032-04-15      | Fixed         | 7.88%                 | No            |                  2 | On Loan: No      |
| TCI Communications Inc                                                | TCI Communications Inc                                                           | CUSIP: 872287AF4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    610000 | PA      | $617557.30    | 0.08%             | 2026-02-15      | Fixed         | 7.88%                 | No            |                  2 | On Loan: No      |
| MATCH GROUP HLD II LLC                                                | Match Group Holdings II LLC                                                      | CUSIP: 57665RAL0<br>LEI: 5493003RFFE030RC9167 | Long             | DBT              | CORP              | US        |     20000 | PA      | $18889.85     | 0.00%             | 2030-08-01      | Fixed         | 4.13%                 | No            |                  2 | On Loan: No      |
| AMAZON.COM INC                                                        | Amazon.com Inc                                                                   | CUSIP: 023135BT2<br>LEI: ZXTILKJKG63JELOEG630 | Long             | DBT              | CORP              | US        |   1500000 | PA      | $926648.81    | 0.13%             | 2050-06-03      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| MERITAGE HOMES CORP                                                   | Meritage Homes Corp                                                              | CUSIP: 59001ABF8<br>LEI: 52990044W9UMFJO2FB97 | Long             | DBT              | CORP              | US        |    206000 | PA      | $210833.21    | 0.03%             | 2028-05-15      | Fixed         | 1.75%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                              | Government National Mortgage Association                                         | CUSIP: 38382BBF9<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |  26339694 | PA      | $4895898.57   | 0.67%             | 2049-12-20      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| ALBERTSONS COS/SAFEWAY                                                | Albertsons Cos Inc / Safeway Inc / New Albertsons LP / Albertsons LLC            | CUSIP: 01309QAB4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    118000 | PA      | $120678.60    | 0.02%             | 2033-03-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| BAIN CAPITAL SPECIALTY F                                              | Bain Capital Specialty Finance Inc                                               | CUSIP: 05684BAD9<br>LEI: 549300V2JL72R0EYBK64 | Long             | DBT              | CORP              | US        |     40000 | PA      | $40204.63     | 0.01%             | 2030-03-15      | Fixed         | 5.95%                 | No            |                  2 | On Loan: No      |
| Petroleos Mexicanos                                                   | Petroleos Mexicanos                                                              | CUSIP: 71654QDE9<br>LEI: 549300CAZKPF4HKMPX17 | Long             | DBT              | CORP              | MX        |    152000 | PA      | $147364.00    | 0.02%             | 2031-01-28      | Fixed         | 5.95%                 | No            |                  2 | On Loan: No      |
| SURA ASSET MANAGEMENT                                                 | SURA Asset Management SA                                                         | CUSIP: 78486LAB8<br>LEI: 549300013ETMS1C0EA22 | Long             | DBT              | CORP              | CO        |    200000 | PA      | $213500.00    | 0.03%             | 2032-05-13      | Fixed         | 6.35%                 | No            |                  2 | On Loan: No      |
| ELECTRICITE DE FRANCE SA                                              | Electricite de France SA                                                         | CUSIP: 000000000<br>LEI: 549300X3UK4GG3FNMO06 | Long             | DBT              | CORP              | FR        |    200000 | PA      | $225120.95    | 0.03%             | 2030-06-15      | Fixed         | 3.38%                 | No            |                  2 | On Loan: No      |
| WYNN MACAU LTD                                                        | Wynn Macau Ltd                                                                   | CUSIP: 98313RAH9<br>LEI: 254900NMDQ8ENTHU1I31 | Long             | DBT              | CORP              | KY        |    800000 | PA      | $798408.00    | 0.11%             | 2028-08-26      | Fixed         | 5.63%                 | No            |                  2 | On Loan: No      |
| BOFA SECURITIES INC                                                   | RRP COMCAST COR                                                                  | CUSIP: 000000000<br>LEI: 549300HN4UKV1E2R3U73 | Short            | RA               | CORP              | US        |  -1260000 | PA      | $-1260000.00  | -0.17%            |  |  |  | No            |                  2 | On Loan: No      |
| Lyra MUSIC Assets (Delaware) LP                                       | Lyra Music Assets Delaware LP                                                    | CUSIP: 552339AD5<br>LEI: 9845007N9EAB0C048A12 | Long             | ABS-O            | CORP              | US        |    221000 | PA      | $223489.72    | 0.03%             | 2065-09-20      | Fixed         | 5.60%                 | No            |                  2 | On Loan: No      |
| Orion US Finco Inc.                                                   | Orion US Finco Inc 1st Lien Term Loan                                            | CUSIP: 68631KAB5<br>LEI: N/A                  | Long             | LON              | CORP              | US        |     45000 | PA      | $45225.00     | 0.01%             | 2032-05-20      | Floating      | 7.67%                 | No            |                  2 | On Loan: No      |
| GFL ENVIRONMENTAL INC                                                 | GFL Environmental Inc                                                            | CUSIP: 36168QAN4<br>LEI: 894500E7NLBY9VZRT696 | Long             | DBT              | CORP              | CA        |    148000 | PA      | $145974.89    | 0.02%             | 2029-06-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| Ventas Realty LP                                                      | Ventas Realty LP                                                                 | CUSIP: 92277GAJ6<br>LEI: 32SXKSJ72K64GM3HOU64 | Long             | DBT              | CORP              | US        |    870000 | PA      | $860914.02    | 0.12%             | 2026-10-15      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| BX Trust                                                              | BX Commercial Mortgage Trust 2022-LP2                                            | CUSIP: 05610HAA1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    638709 | PA      | $638110.29    | 0.09%             | 2039-02-15      | Floating      | 5.16%                 | No            |                  2 | On Loan: No      |
| WELLS FARGO SECURITIES LLC                                            | RRP FNMA 15YR U                                                                  | CUSIP: 000000000<br>LEI: VYVVCKR63DVZZN70PB21 | Short            | RA               | CORP              | US        |   -802914 | PA      | $-802914.11   | -0.11%            |  |  |  | No            |                  2 | On Loan: No      |
| LUMEN TECHNOLOGIES INC                                                | Lumen Technologies Inc                                                           | CUSIP: 550241AC7<br>LEI: 8M3THTGWLTYZVE6BBY25 | Long             | DBT              | CORP              | US        |    139242 | PA      | $136457.16    | 0.02%             | 2030-04-15      | Fixed         | 4.13%                 | No            |                  2 | On Loan: No      |
| BECTON DICKINSON & CO                                                 | Becton Dickinson & Co                                                            | CUSIP: 075887CP2<br>LEI: ICE2EP6D98PQUILVRZ91 | Long             | DBT              | CORP              | US        |    750000 | PA      | $738348.95    | 0.10%             | 2032-08-22      | Fixed         | 4.30%                 | No            |                  2 | On Loan: No      |
| WELLS FARGO SECURITIES LLC                                            | RRP GNMA2 30YR                                                                   | CUSIP: 000000000<br>LEI: VYVVCKR63DVZZN70PB21 | Short            | RA               | CORP              | US        |   -429775 | PA      | $-429775.13   | -0.06%            |  |  |  | No            |                  2 | On Loan: No      |
| SOLSTICE ADVANCED MATERI                                              | Solstice Advanced Materials Inc                                                  | CUSIP: 83443QAA1<br>LEI: 2138004GZ4H9TW6HK435 | Long             | DBT              | CORP              | US        |    248000 | PA      | $248819.36    | 0.03%             | 2033-09-30      | Fixed         | 5.63%                 | No            |                  2 | On Loan: No      |
| SNAP INC                                                              | Snap Inc                                                                         | CUSIP: 83304AAL0<br>LEI: 549300JNC0L6VP8A2Q35 | Long             | DBT              | CORP              | US        |    288000 | PA      | $294364.41    | 0.04%             | 2033-03-01      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| EQUINIX INC                                                           | Equinix Inc                                                                      | CUSIP: 29444UBS4<br>LEI: 549300EVUN2BTLJ3GT74 | Long             | DBT              |  | US        |    500000 | PA      | $450655.00    | 0.06%             | 2031-05-15      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| FORD MOTOR COMPANY                                                    | Ford Motor Co                                                                    | CUSIP: 345370CQ1<br>LEI: 20S05OYHG0MQM4VUIC57 | Long             | DBT              | CORP              | US        |   2000000 | PA      | $1594631.64   | 0.22%             | 2043-01-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| ALEXANDRIA REAL ESTATE E                                              | Alexandria Real Estate Equities Inc                                              | CUSIP: 015271AQ2<br>LEI: MGCJBT4MKTQBVLNUIS88 | Long             | DBT              |  | US        |    550000 | PA      | $478114.89    | 0.07%             | 2049-04-15      | Fixed         | 4.85%                 | No            |                  2 | On Loan: No      |
| CARVANA CO                                                            | Carvana Co                                                                       | CUSIP: 146869AN2<br>LEI: 5493003WEAK2PJ5WS063 | Long             | DBT              | CORP              | US        |    325105 | PA      | $340130.38    | 0.05%             | 2030-06-01      | Fixed         | 9.00%                 | No            |                  2 | On Loan: No      |
| SOFTBANK GROUP CORP                                                   | SoftBank Group Corp                                                              | CUSIP: 000000000<br>LEI: 5493003BZYYYCDIO0R13 | Long             | DBT              | CORP              | JP        |    100000 | PA      | $111751.05    | 0.02%             | 2032-07-06      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| STATE STREET CORP                                                     | State Street Corp                                                                | CUSIP: 857477AY9<br>LEI: 549300ZFEEJ2IP5VME73 | Long             | DBT              | CORP              | US        |   1485000 | PA      | $1343770.11   | 0.18%             | 2047-06-15      | Floating      | 5.30%                 | No            |                  2 | On Loan: No      |
| Chile Government International Bonds                                  | Chile Government International Bonds                                             | CUSIP: 168863DY1<br>LEI: 549300FLZTJM5YJF8D34 | Long             | DBT              | NUSS              | CL        |    200000 | PA      | $177000.00    | 0.02%             | 2042-03-07      | Fixed         | 4.34%                 | No            |                  2 | On Loan: No      |
| 595 EXPRESS LLC 12/31/2031                                            | i-595 Express LLC                                                                | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    574527 | PA      | $550032.92    | 0.08%             | 2031-12-31      | Fixed         | 3.31%                 | No            |                  2 | On Loan: No      |
| TRANSDIGM INC                                                         | TransDigm Inc                                                                    | CUSIP: 893647BR7<br>LEI: 88Q84GB3X55CF5OC7582 | Long             | DBT              | CORP              | US        |    150000 | PA      | $152858.85    | 0.02%             | 2028-08-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| STARWOOD PROPERTY TRUST                                               | Starwood Property Trust Inc                                                      | CUSIP: 85571BBC8<br>LEI: BUGSFQZERKRBFWIG5267 | Long             | DBT              |  | US        |     48000 | PA      | $48729.55     | 0.01%             | 2030-04-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| VMED O2 UK FINAN                                                      | Vmed O2 UK Financing I PLC                                                       | CUSIP: 000000000<br>LEI: 213800MRR46ECNGZ7L69 | Long             | DBT              | CORP              | GB        |    100000 | PA      | $123044.68    | 0.02%             | 2031-07-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Kraft Heinz Foods Co                                                  | Kraft Heinz Foods Co                                                             | CUSIP: 50076QAE6<br>LEI: 5493003STKEZ2S0RNU91 | Long             | DBT              | CORP              | US        |    500000 | PA      | $461578.32    | 0.06%             | 2042-06-04      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| IMOLA MERGER CORP                                                     | Imola Merger Corp                                                                | CUSIP: 45258LAA5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     40000 | PA      | $38904.98     | 0.01%             | 2029-05-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| TRANSOCEAN INC                                                        | Transocean International Ltd                                                     | CUSIP: 893830BX6<br>LEI: DOL4HJ22ADYSIWES4H94 | Long             | DBT              | CORP              | BM        |     18000 | PA      | $18939.08     | 0.00%             | 2030-02-15      | Fixed         | 8.75%                 | No            |                  2 | On Loan: No      |
| Marble Point CLO XXIII Ltd.                                           | Marble Point CLO XXIII Ltd                                                       | CUSIP: 56607TAN5<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    250000 | PA      | $250530.75    | 0.03%             | 2035-01-22      | Floating      | 8.24%                 | No            |                  2 | On Loan: No      |
| PARK RIVER HOLDINGS INC                                               | Park River Holdings Inc                                                          | CUSIP: 70082LAC1<br>LEI: 254900PGY077KWCROT75 | Long             | DBT              | CORP              | US        |     99000 | PA      | $100254.75    | 0.01%             | 2031-03-15      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| AbbVie Inc                                                            | AbbVie Inc                                                                       | CUSIP: 00287YBD0<br>LEI: FR5LCKFTG8054YNNRU85 | Long             | DBT              | CORP              | US        |   2095000 | PA      | $1942966.90   | 0.27%             | 2048-11-14      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| RAVEN ACQUISITION HOLDIN                                              | Raven Acquisition Holdings LLC                                                   | CUSIP: 75420NAA1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     56000 | PA      | $57549.41     | 0.01%             | 2031-11-15      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| ANYWHERE REAL EST/CO-ISS                                              | Anywhere Real Estate Group LLC / Anywhere Co-Issuer Corp                         | CUSIP: 75606DAS0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    134606 | PA      | $136221.60    | 0.02%             | 2030-04-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| Lonza Group AG                                                        | Lonza Group AG USD Term Loan B                                                   | CUSIP: 000000000<br>LEI: 549300Y0CIXN5D40L888 | Long             | LON              | CORP              | US        |    182602 | PA      | $164365.32    | 0.02%             | 2028-07-03      | Floating      | 8.03%                 | No            |                  2 | On Loan: No      |
| WEX INC                                                               | WEX Inc                                                                          | CUSIP: 96208TAD6<br>LEI: T9M5IGROL1TL1G5OV478 | Long             | DBT              | CORP              | US        |    263000 | PA      | $268597.43    | 0.04%             | 2033-03-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| CLEAN HARBORS INC                                                     | Clean Harbors Inc                                                                | CUSIP: 184496AQ0<br>LEI: 5493000SJVZVZJKHJF48 | Long             | DBT              | CORP              | US        |      6000 | PA      | $6144.20      | 0.00%             | 2031-02-01      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| ALLIANT HOLD / CO-ISSUER                                              | Alliant Holdings Intermediate LLC / Alliant Holdings Co-Issuer                   | CUSIP: 01883LAF0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    297000 | PA      | $306868.79    | 0.04%             | 2031-01-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| PREMIER ENTERTAINMENT SU                                              | Premier Entertainment Sub LLC / Premier Entertainment Finance Corp               | CUSIP: 74052HAB0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    107000 | PA      | $55165.28     | 0.01%             | 2031-09-01      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| HESS MIDSTREAM OPERATION                                              | Hess Midstream Operations LP                                                     | CUSIP: 428102AE7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     67000 | PA      | $64938.93     | 0.01%             | 2030-02-15      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| OWENS-BROCKWAY                                                        | Owens-Brockway Glass Container Inc                                               | CUSIP: 69073TAT0<br>LEI: V2UQUCDZJ9WY98W8QU33 | Long             | DBT              | CORP              | US        |     27000 | PA      | $26950.05     | 0.00%             | 2027-05-13      | Fixed         | 6.63%                 | No            |                  2 | On Loan: No      |
| ONESKY FLIGHT LLC                                                     | OneSky Flight LLC                                                                | CUSIP: 68278CAA3<br>LEI: 549300PM6NEPXGG5B882 | Long             | DBT              | CORP              | US        |    133000 | PA      | $139856.55    | 0.02%             | 2029-12-15      | Fixed         | 8.88%                 | No            |                  2 | On Loan: No      |
| MADISON IAQ LLC                                                       | Madison IAQ LLC                                                                  | CUSIP: 55760LAA5<br>LEI: 549300IXDNBXNHUPBU73 | Long             | DBT              | CORP              | US        |    172000 | PA      | $167865.21    | 0.02%             | 2028-06-30      | Fixed         | 4.13%                 | No            |                  2 | On Loan: No      |
| CCO HLDGS LLC/CAP CORP                                                | CCO Holdings LLC / CCO Holdings Capital Corp                                     | CUSIP: 1248EPCK7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    157000 | PA      | $144633.31    | 0.02%             | 2031-02-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| CARPENTER TECHNOLOGY                                                  | Carpenter Technology Corp                                                        | CUSIP: 144285AM5<br>LEI: DX6I6ZD3X5WNNCDJKP85 | Long             | DBT              | CORP              | US        |    151000 | PA      | $155171.53    | 0.02%             | 2030-03-15      | Fixed         | 7.63%                 | No            |                  2 | On Loan: No      |
| CNTRL PARENT/CDK GLB INC                                              | Central Parent Inc / CDK Global Inc                                              | CUSIP: 15477CAA3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     95000 | PA      | $81800.23     | 0.01%             | 2029-06-15      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| EMRLD BOR / EMRLD CO-ISS                                              | EMRLD Borrower LP / Emerald Co-Issuer Inc                                        | CUSIP: 29103CAA6<br>LEI: 98450099EE3A0ZD5F786 | Long             | DBT              | CORP              | US        |    823000 | PA      | $846002.03    | 0.12%             | 2030-12-15      | Fixed         | 6.63%                 | No            |                  2 | On Loan: No      |
| SENSATA TECHNOLOGIES INC                                              | Sensata Technologies Inc                                                         | CUSIP: 81728UAB0<br>LEI: 5493002MMDDCUNV7NY90 | Long             | DBT              | CORP              | US        |    529000 | PA      | $488202.83    | 0.07%             | 2031-02-15      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| AT&T Inc                                                              | AT&T Inc                                                                         | CUSIP: 00206RDG4<br>LEI: 549300Z40J86GGSTL398 | Long             | DBT              | CORP              | US        |   1200000 | PA      | $1295165.35   | 0.18%             | 2041-03-01      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| AMERICAN AIRLINES INC                                                 | American Airlines Inc                                                            | CUSIP: 023771T40<br>LEI: IWUQB36BXD6OWD6X4T14 | Long             | DBT              | CORP              | US        |    225000 | PA      | $234709.43    | 0.03%             | 2029-05-15      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| ORACLE CORP                                                           | Oracle Corp                                                                      | CUSIP: 68389XDC6<br>LEI: 1Z4GXXU7ZHVWFCD8TV52 | Long             | DBT              | CORP              | US        |    600000 | PA      | $602320.64    | 0.08%             | 2065-08-03      | Fixed         | 6.13%                 | No            |                  2 | On Loan: No      |
| ARDAGH METAL PACKAGING                                                | Ardagh Metal Packaging Finance USA LLC / Ardagh Metal Packaging Finance PLC      | CUSIP: 03969YAB4<br>LEI: N/A                  | Long             | DBT              | CORP              | XX        |   1066000 | PA      | $986600.76    | 0.13%             | 2029-09-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| BAT CAPITAL CORP                                                      | BAT Capital Corp                                                                 | CUSIP: 054989AC2<br>LEI: 2138005GYEXN7XRHFA84 | Long             | DBT              | CORP              | US        |    500000 | PA      | $565841.37    | 0.08%             | 2043-08-02      | Fixed         | 7.08%                 | No            |                  2 | On Loan: No      |
| HERC HOLDINGS INC                                                     | Herc Holdings Inc                                                                | CUSIP: 42704LAG9<br>LEI: 549300TP80QLITMSBP82 | Long             | DBT              | CORP              | US        |    104000 | PA      | $108565.81    | 0.01%             | 2033-06-15      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| PINNACLE BUYER LLC                                                    | PINNACLE BUYER LLC TERM LOAN                                                     | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |     70654 | PA      | $70742.15     | 0.01%             | 2032-09-10      | Floating      | 6.63%                 | No            |                  2 | On Loan: No      |
| SC GAMES HOLDIN/US FINCO                                              | Scientific Games Holdings LP/Scientific Games US FinCo Inc                       | CUSIP: 80874DAA4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    157000 | PA      | $145964.95    | 0.02%             | 2030-03-01      | Fixed         | 6.63%                 | No            |                  2 | On Loan: No      |
| DOMINICAN REPUBLIC                                                    | Dominican Republic International Bond                                            | CUSIP: 25714PED6<br>LEI: 254900EHU7Q8FGVPI369 | Long             | DBT              | NUSS              | DO        |    226000 | PA      | $221254.00    | 0.03%             | 2030-01-30      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| FIDELITY NATL INFO SERV                                               | Fidelity National Information Services Inc                                       | CUSIP: 31620MAU0<br>LEI: 6WQI0GK1PRFVBA061U48 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $839899.63    | 0.11%             | 2046-08-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Palmer Square CLO Ltd                                                 | Palmer Square CLO 2024-4 Ltd                                                     | CUSIP: 69703WAE4<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    920000 | PA      | $924820.80    | 0.13%             | 2038-01-15      | Floating      | 5.97%                 | No            |                  2 | On Loan: No      |
| Aramark Services Inc                                                  | Aramark Services Inc                                                             | CUSIP: 038522AQ1<br>LEI: 42YMHYH0XMHJEXDUB065 | Long             | DBT              | CORP              | US        |    122000 | PA      | $121424.71    | 0.02%             | 2028-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LEVEL 3 FINANCING INC                                                 | Level 3 Financing Inc                                                            | CUSIP: 527298BS1<br>LEI: 254900AE5FEFIJOXWL19 | Long             | DBT              | CORP              | US        |     33000 | PA      | $28559.92     | 0.00%             | 2029-01-15      | Fixed         | 3.63%                 | No            |                  2 | On Loan: No      |
| OCEANEERING INTL INC                                                  | Oceaneering International Inc                                                    | CUSIP: 675232AD4<br>LEI: 549300L6PH74701W0R30 | Long             | DBT              | CORP              | US        |     45000 | PA      | $45556.56     | 0.01%             | 2028-02-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS & CO LLC                                                | RRP FISERV INC                                                                   | CUSIP: 000000000<br>LEI: FOR8UP27PHTHYVLBNG30 | Short            | RA               | CORP              | US        |   -373125 | PA      | $-373125.00   | -0.05%            |  |  |  | No            |                  2 | On Loan: No      |
| HESS MIDSTREAM OPERATION                                              | Hess Midstream Operations LP                                                     | CUSIP: 428102AG2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    150000 | PA      | $154700.25    | 0.02%             | 2029-06-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Royal Bank of Canada                                                  | PURCHASED USD / SOLD EUR                                                         | CUSIP: 000000000<br>LEI: ES7IP3U3RHIGC71XBU11 | N/A              | DFE              |  | US        |         1 | NC      | $1076.44      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| LAMAR MEDIA CORP                                                      | Lamar Media Corp                                                                 | CUSIP: 513075CA7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    126000 | PA      | $125073.14    | 0.02%             | 2033-11-01      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| Gray Television Inc                                                   | Gray Television Inc 2024 Term Loan B                                             | CUSIP: 389376BC7<br>LEI: 529900TM5726KDN7UU35 | Long             | LON              | CORP              | US        |       551 | PA      | $550.53       | 0.00%             | 2029-06-04      | Floating      | 9.53%                 | No            |                  2 | On Loan: No      |
| TRANSMONTAIGNE PARTNERS                                               | TransMontaigne Partners LLC                                                      | CUSIP: 89377AAA3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     30000 | PA      | $31260.61     | 0.00%             | 2030-06-15      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| United States Treasury                                                | U.S. Treasury Bonds                                                              | CUSIP: 912810PW2<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   1600000 | PA      | $1613562.50   | 0.22%             | 2038-02-15      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| MORGAN STANLEY & CO LLC                                               | RRP GRAFTECH GL                                                                  | CUSIP: 000000000<br>LEI: 9R7GPTSO7KV3UQJZQ078 | Short            | RA               | CORP              | US        |    -53300 | PA      | $-53300.00    | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| STL HOLDING CO LLC                                                    | STL Holding Co LLC                                                               | CUSIP: 861036AB7<br>LEI: 984500BC2I63E7F48656 | Long             | DBT              | CORP              | US        |     76000 | PA      | $79641.62     | 0.01%             | 2029-02-15      | Fixed         | 8.75%                 | No            |                  2 | On Loan: No      |
| LUMEN TECHNOLOGIES INC                                                | Lumen Technologies Inc                                                           | CUSIP: 550241AK9<br>LEI: 8M3THTGWLTYZVE6BBY25 | Long             | DBT              | CORP              | US        |    115818 | PA      | $117168.23    | 0.02%             | 2032-10-15      | Fixed         | 10.00%                | No            |                  2 | On Loan: No      |
| SELF Commercial Mortgage Trust                                        | SELF Commercial Mortgage Trust 2024-STRG                                         | CUSIP: 81631WAG1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    270000 | PA      | $269409.38    | 0.04%             | 2034-11-15      | Floating      | 7.09%                 | No            |                  2 | On Loan: No      |
| Apidos CLO Ltd                                                        | Apidos CLO XVIII-R                                                               | CUSIP: 03767NAW6<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   1295000 | PA      | $1300350.94   | 0.18%             | 2038-01-22      | Floating      | 5.66%                 | No            |                  2 | On Loan: No      |
| JONES DESLAURIERS INSURA                                              | Jones Deslauriers Insurance Management Inc                                       | CUSIP: 48020RAB1<br>LEI: 549300JQIWNFU00E5424 | Long             | DBT              | CORP              | CA        |    353000 | PA      | $370865.33    | 0.05%             | 2030-03-15      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| JEFFERIES FIN LLC / JFIN                                              | Jefferies Finance LLC / JFIN Co-Issuer Corp                                      | CUSIP: 47232MAF9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    220000 | PA      | $212560.63    | 0.03%             | 2028-08-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Saudi Government International Bonds                                  | Saudi Government International Bonds                                             | CUSIP: 000000000<br>LEI: 635400FMICXSM3SI3H65 | Long             | DBT              | NUSS              | SA        |    200000 | PA      | $202390.00    | 0.03%             | 2030-04-17      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| BOYNE USA INC                                                         | Boyne USA Inc                                                                    | CUSIP: 103557AC8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     47000 | PA      | $46111.40     | 0.01%             | 2029-05-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| MERLIN ENTERTAINMENTS GR                                              | Merlin Entertainments Group US Holdings Inc                                      | CUSIP: 59010UAA5<br>LEI: 549300HBQPPKS1187K54 | Long             | DBT              | CORP              | US        |    200000 | PA      | $172340.42    | 0.02%             | 2031-02-15      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| WELLS FARGO SECURITIES LLC                                            | RRP FNMA 40YR R                                                                  | CUSIP: 000000000<br>LEI: VYVVCKR63DVZZN70PB21 | Short            | RA               | CORP              | US        |   -706546 | PA      | $-706546.11   | -0.10%            |  |  |  | No            |                  2 | On Loan: No      |
| Fannie Mae                                                            | Fannie Mae REMICS                                                                | CUSIP: 3136BVSD1<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   5126309 | PA      | $4898252.12   | 0.67%             | 2055-03-25      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| TELECOM ARGENTINA SA                                                  | Telecom Argentina SA                                                             | CUSIP: 879273AV2<br>LEI: 549300MKPIRSJD8SB782 | Long             | DBT              | CORP              | AR        |     42279 | PA      | $41623.68     | 0.01%             | 2033-05-28      | Fixed         | 9.25%                 | No            |                  2 | On Loan: No      |
| Madison Park Funding Ltd                                              | Madison Park Funding LIX Ltd                                                     | CUSIP: 55822EAJ8<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   1300000 | PA      | $1306900.53   | 0.18%             | 2037-04-18      | Floating      | 5.83%                 | No            |                  2 | On Loan: No      |
| ACRA Trust 2024-NQM1                                                  | ACRA Trust 2024-NQM1                                                             | CUSIP: 00112EAA2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    430758 | PA      | $433228.72    | 0.06%             | 2064-10-25      | Variable      | 5.61%                 | No            |                  2 | On Loan: No      |
| CHS/COMMUNITY HEALTH SYS                                              | CHS/Community Health Systems Inc                                                 | CUSIP: 12543DBN9<br>LEI: 5493007X5NC5XI1BB106 | Long             | DBT              | CORP              | US        |    291000 | PA      | $308197.23    | 0.04%             | 2032-01-15      | Fixed         | 10.88%                | No            |                  2 | On Loan: No      |
| FRONTIER COMMUNICATIONS                                               | Frontier Communications Holdings LLC                                             | CUSIP: 35906ABG2<br>LEI: 549300ZCZ76HYCS0H445 | Long             | DBT              | CORP              | US        |     59000 | PA      | $59588.53     | 0.01%             | 2029-05-01      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| ROMANIA                                                               | Romanian Government International Bond                                           | CUSIP: 77586RAN0<br>LEI: 315700IASY927EDWBK92 | Long             | DBT              | NUSS              | RO        |     50000 | PA      | $50524.43     | 0.01%             | 2027-11-25      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| VENTURE GLOBAL PLAQUE                                                 | Venture Global Plaquemines LNG LLC                                               | CUSIP: 922966AA4<br>LEI: 549300TKP4I6OJ02BF90 | Long             | DBT              | CORP              | US        |    241000 | PA      | $266307.41    | 0.04%             | 2033-05-01      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| TK ELEVATOR US NEWCO INC                                              | TK Elevator US Newco Inc                                                         | CUSIP: 92537RAA7<br>LEI: 549300C2AFWPAYWS5574 | Long             | DBT              | CORP              | US        |    741000 | PA      | $738380.05    | 0.10%             | 2027-07-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Aimco                                                                 | AIMCO CLO Series 2018-B                                                          | CUSIP: 00900PAU9<br>LEI: 549300MMTPNJGGRMPB33 | Long             | ABS-CBDO         | CORP              | KY        |    650000 | PA      | $654706.59    | 0.09%             | 2037-04-16      | Floating      | 6.72%                 | No            |                  2 | On Loan: No      |
| UPX HIL 2025-1 Issuer Trust                                           | UPX HIL 2025-1 Issuer Trust                                                      | CUSIP: 916925AA8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    336576 | PA      | $338010.33    | 0.05%             | 2047-01-25      | Fixed         | 5.16%                 | No            |                  2 | On Loan: No      |
| Buckeye Partners LP                                                   | Buckeye Partners LP                                                              | CUSIP: 118230AM3<br>LEI: 549300C1PQJLVEIUBK50 | Long             | DBT              | CORP              | US        |     94000 | PA      | $87670.38     | 0.01%             | 2043-11-15      | Fixed         | 5.85%                 | No            |                  2 | On Loan: No      |
| CAPSTONE BORROWER INC                                                 | Capstone Borrower Inc                                                            | CUSIP: 140944AA7<br>LEI: 254900YSP2BAI3YKIX08 | Long             | DBT              | CORP              | US        |    561000 | PA      | $586688.75    | 0.08%             | 2030-06-15      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF SERBIA                                                    | Serbia International Bond                                                        | CUSIP: 817477AJ1<br>LEI: 254900W94OCY91V32O78 | Long             | DBT              | NUSS              | RS        |    200000 | PA      | $208300.00    | 0.03%             | 2034-06-12      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| BNP PARIBAS SA                                                        | RRP TREASURY BO                                                                  | CUSIP: 000000000<br>LEI: R0MUWSFPU8MPRO8K5P83 | Short            | RA               | CORP              | US        |  -1610000 | PA      | $-1610000.00  | -0.22%            |  |  |  | No            |                  2 | On Loan: No      |
| United States Treasury                                                | U.S. Treasury Notes                                                              | CUSIP: 91282CHE4<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   1900000 | PA      | $1900296.88   | 0.26%             | 2028-05-31      | Fixed         | 3.63%                 | No            |                  2 | On Loan: No      |
| LIFEPOINT HEALTH INC                                                  | LifePoint Health Inc                                                             | CUSIP: 53219LAX7<br>LEI: 549300G8ZVHRTBBBSZ90 | Long             | DBT              | CORP              | US        |    166000 | PA      | $174293.19    | 0.02%             | 2032-06-01      | Fixed         | 10.00%                | No            |                  2 | On Loan: No      |
| SUNOCO LP                                                             | Sunoco LP                                                                        | CUSIP: 86765KAF6<br>LEI: 54930001NJU8E40NQ561 | Long             | DBT              | CORP              | US        |     74000 | PA      | $73454.10     | 0.01%             | 2031-03-15      | Fixed         | 5.63%                 | No            |                  2 | On Loan: No      |
| HILTON DOMESTIC OPERATIN                                              | Hilton Domestic Operating Co Inc                                                 | CUSIP: 432833AR2<br>LEI: 5493003EG7H0N1E4XV50 | Long             | DBT              | CORP              | US        |    197000 | PA      | $201096.81    | 0.03%             | 2033-03-15      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| NOVELIS CORP                                                          | Novelis Corp                                                                     | CUSIP: 670001AL0<br>LEI: 549300G5F3W3B52WYL23 | Long             | DBT              | CORP              | US        |    256000 | PA      | $265465.34    | 0.04%             | 2030-01-30      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| HILCORP ENERGY I/HILCORP                                              | Hilcorp Energy I LP / Hilcorp Finance Co                                         | CUSIP: 431318BC7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    269000 | PA      | $282524.78    | 0.04%             | 2033-11-01      | Fixed         | 8.38%                 | No            |                  2 | On Loan: No      |
| Bain Capital Credit CLO, Limited                                      | Bain Capital Credit CLO 2021-3 Ltd                                               | CUSIP: 05683NAG7<br>LEI: 254900XV68IP5ZAT0548 | Long             | ABS-CBDO         | CORP              | KY        |    250000 | PA      | $249062.50    | 0.03%             | 2034-07-24      | Floating      | 7.68%                 | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS GROUP INC                                               | Goldman Sachs Group Inc/The                                                      | CUSIP: 38141GWZ3<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | DBT              | CORP              | US        |   4000000 | PA      | $4004667.08   | 0.55%             | 2029-05-01      | Fixed         | 4.22%                 | No            |                  2 | On Loan: No      |
| Merrill Lynch Mortgage Investors Trust                                | Merrill Lynch Mortgage Investors Trust Series 2006-A3                            | CUSIP: 59023CAD4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    108232 | PA      | $70059.98     | 0.01%             | 2036-05-25      | Variable      | 5.84%                 | No            |                  2 | On Loan: No      |
| BOMBARDIER INC                                                        | Bombardier Inc                                                                   | CUSIP: 097751CD1<br>LEI: W7L3VLU8EHQY34Z36697 | Long             | DBT              | CORP              | CA        |    187000 | PA      | $195145.42    | 0.03%             | 2033-06-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| FLUTTER TREASURY DAC                                                  | Flutter Treasury DAC                                                             | CUSIP: 344045AB5<br>LEI: 635400JE8VLL9UFVIC38 | Long             | DBT              | CORP              | IE        |    464000 | PA      | $470969.28    | 0.06%             | 2031-06-04      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| White Cap Buyer LLC                                                   | White Cap Buyer LLC 2024 Term Loan B                                             | CUSIP: 96350TAH3<br>LEI: 254900L2N0T6GULCL366 | Long             | LON              | CORP              | US        |    280574 | PA      | $280515.00    | 0.04%             | 2029-10-19      | Floating      | 7.42%                 | No            |                  2 | On Loan: No      |
| BNP PARIBAS SA                                                        | RRP QXO BUILDIN                                                                  | CUSIP: 000000000<br>LEI: R0MUWSFPU8MPRO8K5P83 | Short            | RA               | CORP              | US        |   -572986 | PA      | $-572986.25   | -0.08%            |  |  |  | No            |                  2 | On Loan: No      |
| SEALED AIR/SEALED AIR US                                              | Sealed Air Corp/Sealed Air Corp US                                               | CUSIP: 812127AB4<br>LEI: Q0M0CZB4YN6JZ65WXI09 | Long             | DBT              | CORP              | US        |     11000 | PA      | $11542.50     | 0.00%             | 2031-02-15      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| SAN DIEGO G & E                                                       | San Diego Gas & Electric Co                                                      | CUSIP: 797440BZ6<br>LEI: KNIRVXKVNJJ4P8OTMS63 | Long             | DBT              | CORP              | US        |    750000 | PA      | $661775.77    | 0.09%             | 2030-10-01      | Fixed         | 1.70%                 | No            |                  2 | On Loan: No      |
| NORTHRIVER MIDSTREAM FIN                                              | Northriver Midstream Finance LP                                                  | CUSIP: 66679NAB6<br>LEI: 549300SOLNLY3BL6GF18 | Long             | DBT              | CORP              | CA        |     93000 | PA      | $95101.41     | 0.01%             | 2032-07-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| Comcast Corp                                                          | Comcast Corp                                                                     | CUSIP: 20030NAM3<br>LEI: 51M0QTTNCGUN7KFCFZ59 | Long             | DBT              | CORP              | US        |    790000 | PA      | $883463.13    | 0.12%             | 2037-03-15      | Fixed         | 6.45%                 | No            |                  2 | On Loan: No      |
| SPIRIT AEROSYSTEMS INC                                                | Spirit AeroSystems Inc                                                           | CUSIP: 85205TAN0<br>LEI: ZD2NBKV6GCC3UMGBM518 | Long             | DBT              | CORP              | US        |    363000 | PA      | $382318.50    | 0.05%             | 2029-11-30      | Fixed         | 9.38%                 | No            |                  2 | On Loan: No      |
| WR GRACE HOLDING LLC                                                  | WR Grace Holdings LLC                                                            | CUSIP: 92943GAA9<br>LEI: 549300WNOVFRGYOAEB12 | Long             | DBT              | CORP              | US        |    945000 | PA      | $878375.42    | 0.12%             | 2029-08-15      | Fixed         | 5.63%                 | No            |                  2 | On Loan: No      |
| Comcast Corp                                                          | Comcast Corp                                                                     | CUSIP: 20030NCJ8<br>LEI: 51M0QTTNCGUN7KFCFZ59 | Long             | DBT              | CORP              | US        |   1500000 | PA      | $1320458.00   | 0.18%             | 2038-03-01      | Fixed         | 3.90%                 | No            |                  2 | On Loan: No      |
| CCO HLDGS LLC/CAP CORP                                                | CCO Holdings LLC / CCO Holdings Capital Corp                                     | CUSIP: 1248EPCS0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    554000 | PA      | $561609.74    | 0.08%             | 2029-09-01      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| SABRE GLBL INC                                                        | Sabre GLBL Inc                                                                   | CUSIP: 78573NAM4<br>LEI: F2TJC7HPPHLHU1AQMP98 | Long             | DBT              | CORP              | US        |    317000 | PA      | $306998.65    | 0.04%             | 2030-07-15      | Fixed         | 11.13%                | No            |                  2 | On Loan: No      |
| Ellucian Holdings, Inc.                                               | Ellucian Holdings Inc 2024 1st Lien Term Loan B                                  | CUSIP: 28917XAB6<br>LEI: 549300RP8NIJ7FY7OS79 | Long             | LON              | CORP              | US        |     24937 | PA      | $24921.88     | 0.00%             | 2029-10-09      | Floating      | 6.91%                 | No            |                  2 | On Loan: No      |
| TRANSDIGM INC                                                         | TransDigm Inc                                                                    | CUSIP: 893647BU0<br>LEI: 88Q84GB3X55CF5OC7582 | Long             | DBT              | CORP              | US        |    596000 | PA      | $609351.00    | 0.08%             | 2029-03-01      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| GLOBAL AIR LEASE CO LTD                                               | Global Aircraft Leasing Co Ltd                                                   | CUSIP: 37960JAC2<br>LEI: N/A                  | Long             | DBT              | CORP              | KY        |    186000 | PA      | $191788.32    | 0.03%             | 2027-09-01      | Fixed         | 8.75%                 | No            |                  2 | On Loan: No      |
| OVG Business Services LLC                                             | OVG Business Services LLC 2024 Term Loan B                                       | CUSIP: 62955EAJ3<br>LEI: N/A                  | Long             | LON              | CORP              | US        |      6666 | PA      | $6649.02      | 0.00%             | 2031-06-25      | Floating      | 7.16%                 | No            |                  2 | On Loan: No      |
| BARCLAYS CAPITAL INC                                                  | RRP INTEL CORPO                                                                  | CUSIP: 000000000<br>LEI: AC28XWWI3WIBK2824319 | Short            | RA               | CORP              | US        |   -827500 | PA      | $-827500.00   | -0.11%            |  |  |  | No            |                  2 | On Loan: No      |
| GRIFOLS SA                                                            | Grifols SA                                                                       | CUSIP: 000000000<br>LEI: 959800HSSNXWRKBK4N60 | Long             | DBT              | CORP              | ES        |    100000 | PA      | $115438.25    | 0.02%             | 2027-11-15      | Fixed         | 2.25%                 | No            |                  2 | On Loan: No      |
| MFRA Trust                                                            | MFA 2023-NQM3 Trust                                                              | CUSIP: 55286MAA8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1145741 | PA      | $1156626.20   | 0.16%             | 2068-07-25      | Variable      | 6.62%                 | No            |                  2 | On Loan: No      |
| Fortress Intermediate 3, Inc                                          | Fortress Intermediate 3 Inc 2025 Term Loan B                                     | CUSIP: 34966LAD6<br>LEI: 254900NLAZ3JQJW5JP75 | Long             | LON              | CORP              | US        |     61250 | PA      | $61403.57     | 0.01%             | 2031-06-27      | Floating      | 7.25%                 | No            |                  2 | On Loan: No      |
| SS&C TECHNOLOGIES INC                                                 | SS&C Technologies Inc                                                            | CUSIP: 78466CAD8<br>LEI: 549300KY09TR3J12JU49 | Long             | DBT              | CORP              | US        |    343000 | PA      | $354606.13    | 0.05%             | 2032-06-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| WELLS FARGO SECURITIES LLC                                            | RRP FNMA 30YR                                                                    | CUSIP: 000000000<br>LEI: VYVVCKR63DVZZN70PB21 | Short            | RA               | CORP              | US        |   -159451 | PA      | $-159451.28   | -0.02%            |  |  |  | No            |                  2 | On Loan: No      |
| RENAULT SA                                                            | Renault SA                                                                       | CUSIP: 000000000<br>LEI: 969500F7JLTX36OUI695 | Long             | DBT              | CORP              | FR        |    100000 | PA      | $117226.82    | 0.02%             | 2030-09-30      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| ALTICE FRANCE SA                                                      | Altice France SA                                                                 | CUSIP: 02156LAH4<br>LEI: 5493001ZMCICV4N02J21 | Long             | DBT              | CORP              | FR        |    400000 | PA      | $345974.54    | 0.05%             | 2029-10-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| ELEMENT SOLUTIONS INC                                                 | Element Solutions Inc                                                            | CUSIP: 28618MAA4<br>LEI: 549300FLGN6P5CU20J91 | Long             | DBT              | CORP              | US        |    466000 | PA      | $451615.42    | 0.06%             | 2028-09-01      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| ORBIA ADVANCE CORP SAB                                                | Orbia Advance Corp SAB de CV                                                     | CUSIP: 68560EAC2<br>LEI: 549300MVHZ20SBIOEQ79 | Long             | DBT              | CORP              | MX        |    200000 | PA      | $207951.00    | 0.03%             | 2030-05-13      | Fixed         | 6.80%                 | No            |                  2 | On Loan: No      |
| VENTURE GLOBAL LNG INC                                                | Venture Global LNG Inc                                                           | CUSIP: 92332YAE1<br>LEI: 54930011XLBUWMQUC829 | Long             | DBT              | CORP              | US        |     97000 | PA      | $100372.22    | 0.01%             | 2030-01-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| BANK OF MONTREAL                                                      | RRP FNMA 30YR                                                                    | CUSIP: 000000000<br>LEI: NQQ6HPCNCCU6TUTQYE16 | Short            | RA               | CORP              | US        |  -6863114 | PA      | $-6863113.93  | -0.94%            |  |  |  | No            |                  2 | On Loan: No      |
| LEVEL 3 FINANCING INC                                                 | LEVEL 3 FINANCING INC 2025 REPRICED TERM LOAN B4                                 | CUSIP: 000000000<br>LEI: 254900AE5FEFIJOXWL19 | Long             | LON              | CORP              | US        |     86000 | PA      | $86000.00     | 0.01%             | 2032-03-29      | Floating      | 7.42%                 | No            |                  2 | On Loan: No      |
| DIVERSIFIED HEALTHCARE T                                              | Diversified Healthcare Trust                                                     | CUSIP: 25525PAE7<br>LEI: N/A                  | Long             | DBT              |  | US        |     80000 | PA      | $81306.36     | 0.01%             | 2030-10-15      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| TEREX CORP                                                            | Terex Corp                                                                       | CUSIP: 880779BB8<br>LEI: YAWJZJYEQ7M1SYMOS462 | Long             | DBT              | CORP              | US        |    135000 | PA      | $137523.96    | 0.02%             | 2032-10-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| Dallas Fort Worth International Airport                               | DALLAS-FORT WORTH TX INTERNATIONAL ARPT REVENUE                                  | CUSIP: 2350368N3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $1456311.18   | 0.20%             | 2046-11-01      | Fixed         | 2.84%                 | No            |                  2 | On Loan: No      |
| ONEMAIN FINANCE CORP                                                  | OneMain Finance Corp                                                             | CUSIP: 682691AG5<br>LEI: 5493008I795YYBFWFU90 | Long             | DBT              | CORP              | US        |     56000 | PA      | $58071.05     | 0.01%             | 2031-11-15      | Fixed         | 7.13%                 | No            |                  2 | On Loan: No      |
| MIDCONTINENT COMMUNICATI                                              | Midcontinent Communications                                                      | CUSIP: 59565XAD2<br>LEI: 549300ZI9GDQBS28C408 | Long             | DBT              | CORP              | US        |    120000 | PA      | $123636.36    | 0.02%             | 2032-08-15      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| AMERICAN AXLE & MFG INC                                               | American Axle & Manufacturing Inc                                                | CUSIP: 02406PBC3<br>LEI: RY5TAKFOBLDUGX31MS24 | Long             | DBT              | CORP              | US        |     91000 | PA      | $90846.35     | 0.01%             | 2032-10-15      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| Neptune Bidco US Inc                                                  | Neptune Bidco US Inc 2022 USD Term Loan B                                        | CUSIP: 64069JAC6<br>LEI: 549300VG15T3VCYZ4531 | Long             | LON              | CORP              | US        |    207679 | PA      | $197478.19    | 0.03%             | 2029-04-11      | Floating      | 9.43%                 | No            |                  2 | On Loan: No      |
| STERLING COOFS TR                                                     | STERLING COOFS TR                                                                | CUSIP: 859245AA0<br>LEI: N/A                  | Long             | ABS-O            | USGA              | US        |    700209 | PA      | $0.07         | 0.00%             | 2029-04-15      | Variable      | 2.36%                 | No            |                  3 | On Loan: No      |
| BOFA SECURITIES INC                                                   | RRP WELLS FARGO                                                                  | CUSIP: 000000000<br>LEI: 549300HN4UKV1E2R3U73 | Short            | RA               | CORP              | US        |  -1687500 | PA      | $-1687500.00  | -0.23%            |  |  |  | No            |                  2 | On Loan: No      |
| Oxnard Union High School District                                     | OXNARD CA UNION HIGH SCH DIST                                                    | CUSIP: 692039SV3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1600000 | PA      | $1238823.49   | 0.17%             | 2043-08-01      | Fixed         | 3.18%                 | No            |                  2 | On Loan: No      |
| PENNYMAC FIN SVCS INC                                                 | PennyMac Financial Services Inc                                                  | CUSIP: 70932MAD9<br>LEI: 549300W1D516HBDEU871 | Long             | DBT              | CORP              | US        |    139000 | PA      | $147520.28    | 0.02%             | 2029-12-15      | Fixed         | 7.88%                 | No            |                  2 | On Loan: No      |
| LIONS GATE CAPITAL HOL 1                                              | Starz Capital Holdings 1 Inc                                                     | CUSIP: 535939AA0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    155000 | PA      | $146992.70    | 0.02%             | 2030-04-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| SAN DIEGO G & E                                                       | San Diego Gas & Electric Co                                                      | CUSIP: 797440CE2<br>LEI: KNIRVXKVNJJ4P8OTMS63 | Long             | DBT              | CORP              | US        |   1565000 | PA      | $1603008.45   | 0.22%             | 2028-08-15      | Fixed         | 4.95%                 | No            |                  2 | On Loan: No      |
| SERVICE PROPERTIES TRUST                                              | Service Properties Trust                                                         | CUSIP: 81761LAE2<br>LEI: 529900IS770AG1K9QG27 | Long             | DBT              |  | US        |    253000 | PA      | $254421.61    | 0.03%             | 2032-06-15      | Fixed         | 8.88%                 | No            |                  2 | On Loan: No      |
| Intercontinental Exchange, Inc.                                       | SWAP/CDSWAP/ICE: (CDX.NA.IG.45.V1)                                               | CUSIP: 000000000<br>LEI: 5493000F4ZO33MV32P92 | N/A              | DCR              |  | US        |  16025000 | OU      | $-368886.53   | -0.05%            |  |  |  | No            |                  2 | On Loan: No      |
| 1011778 BC / NEW RED FIN                                              | 1011778 BC ULC / New Red Finance Inc                                             | CUSIP: 68245XAJ8<br>LEI: N/A                  | Long             | DBT              | CORP              | CA        |    144000 | PA      | $141491.61    | 0.02%             | 2028-01-15      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| REALPAGE INC                                                          | RealPage Inc 2024 Incremental Term Loan                                          | CUSIP: 75605VAH5<br>LEI: 5493001RSFZX4122A604 | Long             | LON              | CORP              | US        |     83580 | PA      | $83788.95     | 0.01%             | 2028-04-24      | Floating      | 7.75%                 | No            |                  2 | On Loan: No      |
| DEUTSCHE BANK NY                                                      | Deutsche Bank AG/New York NY                                                     | CUSIP: 251526CS6<br>LEI: 7LTWFZYICNSX8D621K86 | Long             | DBT              | CORP              | DE        |    850000 | PA      | $892618.20    | 0.12%             | 2029-01-18      | Fixed         | 6.72%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                           | Freddie Mac REMICS                                                               | CUSIP: 3137BERC0<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |  11907409 | PA      | $11038356.42  | 1.51%             | 2054-09-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| AMENTUM HOLDINGS INC                                                  | Amentum Holdings Inc                                                             | CUSIP: 02352BAA3<br>LEI: 2549009FJIBLW40CU216 | Long             | DBT              | CORP              | US        |    139000 | PA      | $144332.87    | 0.02%             | 2032-08-01      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| Clover Holdings SPV III LLC                                           | Clover Holdings SPV III LLC 2024 USD Term Loan                                   | CUSIP: 000000000<br>LEI: 549300RFUWCPWS8FQ104 | Long             | LON              | CORP              | US        |     15829 | PA      | $16184.89     | 0.00%             | 2027-12-09      | Fixed         | 15.00%                | No            |                  2 | On Loan: No      |
| BOELS TOPHOLDING BV                                                   | Boels Topholding BV                                                              | CUSIP: 000000000<br>LEI: 724500V913SEHSEW2O75 | Long             | DBT              | CORP              | NL        |    100000 | PA      | $121765.16    | 0.02%             | 2030-05-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| CHEMOURS CO                                                           | Chemours Co/The                                                                  | CUSIP: 163851AE8<br>LEI: 549300M1BOLNXL8DOV14 | Long             | DBT              | CORP              | US        |    159000 | PA      | $158868.62    | 0.02%             | 2027-05-15      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| FERTITTA ENTERTAINMENT                                                | Fertitta Entertainment LLC / Fertitta Entertainment Finance Co Inc               | CUSIP: 31556TAA7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    162000 | PA      | $154181.57    | 0.02%             | 2029-01-15      | Fixed         | 4.63%                 | No            |                  2 | On Loan: No      |
| WINDSTREAM SERVICES LLC                                               | Windstream Services LLC                                                          | CUSIP: 97382BAB5<br>LEI: 549300KT9GVEBYCD2N29 | Long             | DBT              | CORP              | US        |    211000 | PA      | $210943.03    | 0.03%             | 2033-10-15      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                              | Government National Mortgage Association                                         | CUSIP: 38376PA59<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    472202 | PA      | $47160.67     | 0.01%             | 2039-12-16      | Floating      | 2.21%                 | No            |                  2 | On Loan: No      |
| XPLR INFRAST OPERATING                                                | XPLR Infrastructure Operating Partners LP                                        | CUSIP: 98380MAA3<br>LEI: 549300KJEC5IUVJWR786 | Long             | DBT              | CORP              | US        |    461000 | PA      | $483128.00    | 0.07%             | 2031-01-15      | Fixed         | 8.38%                 | No            |                  2 | On Loan: No      |
| HILCORP ENERGY I/HILCORP                                              | Hilcorp Energy I LP / Hilcorp Finance Co                                         | CUSIP: 431318AZ7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |      9000 | PA      | $8634.14      | 0.00%             | 2032-04-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| Bank of America Corp                                                  | Bank of America Corp                                                             | CUSIP: 060505FL3<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |   3500000 | PA      | $3535896.00   | 0.48%             | 2028-03-15      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| ATLAS LUXCO 4 / ALL UNI                                               | Allied Universal Holdco LLC/Allied Universal Finance Corp/Atlas Luxco 4 Sarl     | CUSIP: 019579AA9<br>LEI: N/A                  | Long             | DBT              | CORP              | XX        |    329000 | PA      | $322475.11    | 0.04%             | 2028-06-01      | Fixed         | 4.63%                 | No            |                  2 | On Loan: No      |
| ENERGY TRANSFER LP                                                    | Energy Transfer LP                                                               | CUSIP: 29279FAA7<br>LEI: MTLVN9N7JE8MIBIJ1H73 | Long             | DBT              | CORP              | US        |    540000 | PA      | $545081.62    | 0.07%             | 2049-04-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| Lumen Technologies Inc                                                | Lumen Technologies Inc 2024 Extended Term Loan B1                                | CUSIP: 55024EAF2<br>LEI: 8M3THTGWLTYZVE6BBY25 | Long             | LON              | CORP              | US        |    142703 | PA      | $141653.19    | 0.02%             | 2029-04-16      | Floating      | 6.63%                 | No            |                  2 | On Loan: No      |
| UNIVISION COMMUNICATIONS                                              | Univision Communications Inc                                                     | CUSIP: 914906BA9<br>LEI: 549300YQDE2JSGTL8V47 | Long             | DBT              | CORP              | US        |    237000 | PA      | $252563.08    | 0.03%             | 2032-08-01      | Fixed         | 9.38%                 | No            |                  2 | On Loan: No      |
| LEVI STRAUSS & CO                                                     | Levi Strauss & Co                                                                | CUSIP: 52736RBJ0<br>LEI: MB0UERO0RDFKU8258G77 | Long             | DBT              | CORP              | US        |     11000 | PA      | $10212.79     | 0.00%             | 2031-03-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| EDvestinU Private Education Loan Issue No. 1, LLC                     | EDvestinU Private Education Loan Issue No 3 LLC                                  | CUSIP: 28166LAB0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    110000 | PA      | $93546.12     | 0.01%             | 2050-11-25      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| 3650R Commercial Mortgage Trust                                       | 3650R 2021-PF1 Commercial Mortgage Trust                                         | CUSIP: 88581EAD3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1250000 | PA      | $1105225.38   | 0.15%             | 2054-11-15      | Fixed         | 2.52%                 | No            |                  2 | On Loan: No      |
| Onslow Bay Financial LLC                                              | OBX 2022-NQM9 Trust                                                              | CUSIP: 67118LAB7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    989982 | PA      | $987441.87    | 0.14%             | 2062-09-25      | Variable      | 6.45%                 | No            |                  2 | On Loan: No      |
| WELLS FARGO SECURITIES LLC                                            | RRP FHLMC 20YR                                                                   | CUSIP: 000000000<br>LEI: VYVVCKR63DVZZN70PB21 | Short            | RA               | CORP              | US        | -12660650 | PA      | $-12660649.56 | -1.73%            |  |  |  | No            |                  2 | On Loan: No      |
| Hunter Douglas Inc.                                                   | Hunter Douglas Inc 2025 USD Term Loan B                                          | CUSIP: 000000000<br>LEI: 529900811T142NS3H544 | Long             | LON              | CORP              | US        |     60707 | PA      | $60707.26     | 0.01%             | 2032-01-20      | Floating      | 7.25%                 | No            |                  2 | On Loan: No      |
| DREAM FINDERS HOMES INC                                               | Dream Finders Homes Inc                                                          | CUSIP: 26154DAA8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     58000 | PA      | $60172.39     | 0.01%             | 2028-08-15      | Fixed         | 8.25%                 | No            |                  2 | On Loan: No      |
| Sequoia Mortgage Trust                                                | Sequoia Mortgage Trust 2024-INV1                                                 | CUSIP: 816939AC6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    913818 | PA      | $918731.19    | 0.13%             | 2054-10-25      | Variable      | 5.50%                 | No            |                  2 | On Loan: No      |
| MORGAN STANLEY & CO LLC                                               | RRP TRANSOCEAN                                                                   | CUSIP: 000000000<br>LEI: 9R7GPTSO7KV3UQJZQ078 | Short            | RA               | CORP              | US        |   -233479 | PA      | $-233478.87   | -0.03%            |  |  |  | No            |                  2 | On Loan: No      |
| OUTFRONT MEDIA CAP LLC/C                                              | Outfront Media Capital LLC / Outfront Media Capital Corp                         | CUSIP: 69007TAG9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     72000 | PA      | $75955.90     | 0.01%             | 2031-02-15      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| SNAP INC                                                              | Snap Inc                                                                         | CUSIP: 83304AAM8<br>LEI: 549300JNC0L6VP8A2Q35 | Long             | DBT              | CORP              | US        |    170000 | PA      | $172062.34    | 0.02%             | 2034-03-15      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| WR Grace & Co-Conn                                                    | WR Grace & Co-Conn 2025 Term Loan B                                              | CUSIP: 92943HAD1<br>LEI: 549300WNOVFRGYOAEB12 | Long             | LON              | CORP              | US        |     85000 | PA      | $85141.95     | 0.01%             | 2032-08-19      | Floating      | 7.00%                 | No            |                  2 | On Loan: No      |
| Dryden Senior Loan Fund                                               | Dryden 64 CLO Ltd                                                                | CUSIP: 26251LAJ3<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   1250000 | PA      | $1259288.50   | 0.17%             | 2031-04-18      | Floating      | 7.24%                 | No            |                  2 | On Loan: No      |
| ANHEUSER-BUSCH INBEV WOR                                              | Anheuser-Busch InBev Worldwide Inc                                               | CUSIP: 03523TBT4<br>LEI: 549300CRGMZK3K53BF92 | Long             | DBT              | CORP              | US        |   4600000 | PA      | $3997579.86   | 0.55%             | 2048-10-06      | Fixed         | 4.44%                 | No            |                  2 | On Loan: No      |
| CABLE ONE INC                                                         | Cable One Inc                                                                    | CUSIP: 12685JAG0<br>LEI: 549300648QS85T0XSH18 | Long             | DBT              | CORP              | US        |    449000 | PA      | $383221.50    | 0.05%             | 2028-03-15      | Fixed         | 1.13%                 | No            |                  2 | On Loan: No      |
| NEW ENTERPRISE STONE & L                                              | New Enterprise Stone & Lime Co Inc                                               | CUSIP: 644274AH5<br>LEI: 549300O5DQ5Y61B8VF38 | Long             | DBT              | CORP              | US        |     55000 | PA      | $54492.43     | 0.01%             | 2028-07-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                           | Freddie Mac Gold Pool                                                            | CUSIP: 3128P8H20<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   3648496 | PA      | $3589048.97   | 0.49%             | 2039-05-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| AMNEAL PHARMACEUTICALS L                                              | Amneal Pharmaceuticals LLC                                                       | CUSIP: 03168LAA3<br>LEI: 54930037VIXE7LRZ1M66 | Long             | DBT              | CORP              | US        |    105000 | PA      | $108592.30    | 0.01%             | 2032-08-01      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| GLOBAL PART/GLP FINANCE                                               | Global Partners LP / GLP Finance Corp                                            | CUSIP: 37954FAL8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     66000 | PA      | $67648.88     | 0.01%             | 2033-07-01      | Fixed         | 7.13%                 | No            |                  2 | On Loan: No      |
| VALE OVERSEAS LIMITED                                                 | Vale Overseas Ltd                                                                | CUSIP: 91911TAS2<br>LEI: 254900BA3U6G5DNV5V04 | Long             | DBT              | CORP              | KY        |     72000 | PA      | $73892.16     | 0.01%             | 2054-06-28      | Fixed         | 6.40%                 | No            |                  2 | On Loan: No      |
| Egypt Government International Bonds                                  | Egypt Government International Bonds                                             | CUSIP: 000000000<br>LEI: 529900GFIVH4086NMH82 | Long             | DBT              | NUSS              | EG        |    200000 | PA      | $196900.00    | 0.03%             | 2032-05-29      | Fixed         | 7.63%                 | No            |                  2 | On Loan: No      |
| Cloudera Inc                                                          | Cloudera Inc 2021 Second Lien Term Loan                                          | CUSIP: 74339VAE8<br>LEI: 549300PGONC4JOI0RG62 | Long             | LON              | CORP              | US        |    167641 | PA      | $152553.31    | 0.02%             | 2029-10-08      | Floating      | 10.26%                | No            |                  2 | On Loan: No      |
| PARKLAND CORP                                                         | Parkland Corp                                                                    | CUSIP: 70137WAN8<br>LEI: 549300UY5C6HUV0XLS53 | Long             | DBT              | CORP              | CA        |    101000 | PA      | $103783.76    | 0.01%             | 2032-08-15      | Fixed         | 6.63%                 | No            |                  2 | On Loan: No      |
| 1011778 BC / NEW RED FIN                                              | 1011778 BC ULC / New Red Finance Inc                                             | CUSIP: 68245XAM1<br>LEI: N/A                  | Long             | DBT              | CORP              | CA        |     31000 | PA      | $29215.13     | 0.00%             | 2030-10-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| ONEMAIN FINANCE CORP                                                  | OneMain Finance Corp                                                             | CUSIP: 682691AF7<br>LEI: 5493008I795YYBFWFU90 | Long             | DBT              | CORP              | US        |     65000 | PA      | $67948.52     | 0.01%             | 2031-05-15      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| FEDRIGONI SPA                                                         | Fedrigoni SpA                                                                    | CUSIP: 000000000<br>LEI: 8156004CE82074779D19 | Long             | DBT              | CORP              | IT        |    100000 | PA      | $116702.21    | 0.02%             | 2031-06-15      | Fixed         | 6.13%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                              | Ginnie Mae II Pool                                                               | CUSIP: 3618NJDU0<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    725929 | PA      | $738173.96    | 0.10%             | 2055-07-20      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| WINDSTREAM SERVICES/ESCR                                              | Windstream Services LLC / Windstream Escrow Finance Corp                         | CUSIP: 97381AAA0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    699000 | PA      | $724077.60    | 0.10%             | 2031-10-01      | Fixed         | 8.25%                 | No            |                  2 | On Loan: No      |
| VAIL RESORTS INC                                                      | Vail Resorts Inc                                                                 | CUSIP: 91879QAP4<br>LEI: 529900PSZHRNU9HKH870 | Long             | DBT              | CORP              | US        |    193000 | PA      | $199552.35    | 0.03%             | 2032-05-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| SCC POWER PLC                                                         | SCC Power PLC                                                                    | CUSIP: 78397YAB8<br>LEI: 529900IYGYC6VSDSDF37 | Long             | DBT              | CORP              | GB        |    129451 | PA      | $78317.86     | 0.01%             | 2028-12-31      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| CABLEVISION LIGHTPATH                                                 | Cablevision Lightpath LLC                                                        | CUSIP: 12687GAB5<br>LEI: 5493002ZVBLRLGES1R71 | Long             | DBT              | CORP              | US        |    200000 | PA      | $196734.96    | 0.03%             | 2028-09-15      | Fixed         | 5.63%                 | No            |                  2 | On Loan: No      |
| AIR COMM CORPORATION LLC                                              | Air Comm Corporation LLC 2025 Term Loan                                          | CUSIP: 82670NAG1<br>LEI: 254900S9ONE06XB1T251 | Long             | LON              | CORP              | US        |     77758 | PA      | $77758.42     | 0.01%             | 2031-12-11      | Floating      | 6.91%                 | No            |                  2 | On Loan: No      |
| WELLS FARGO SECURITIES LLC                                            | RRP FHLMC GOLD                                                                   | CUSIP: 000000000<br>LEI: VYVVCKR63DVZZN70PB21 | Short            | RA               | CORP              | US        |   -422970 | PA      | $-422970.46   | -0.06%            |  |  |  | No            |                  2 | On Loan: No      |
| RHP HOTEL PPTY/RHP FINAN                                              | RHP Hotel Properties LP / RHP Finance Corp                                       | CUSIP: 749571AL9<br>LEI: N/A                  | Long             | DBT              |  | US        |    214000 | PA      | $220396.46    | 0.03%             | 2033-06-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Woodward Capital Management                                           | RCKT Mortgage Trust 2022-2                                                       | CUSIP: 74938WAA9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    891605 | PA      | $769845.40    | 0.11%             | 2052-02-25      | Variable      | 3.00%                 | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS & CO LLC                                                | RRP MATADOR RES                                                                  | CUSIP: 000000000<br>LEI: FOR8UP27PHTHYVLBNG30 | Short            | RA               | CORP              | US        |   -112416 | PA      | $-112416.25   | -0.02%            |  |  |  | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS GROUP INC                                               | Goldman Sachs Group Inc/The                                                      | CUSIP: 38141GA38<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | DBT              | CORP              | US        |   2500000 | PA      | $2653275.00   | 0.36%             | 2029-02-10      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| Cloud Software Group Inc                                              | Cloud Software Group Inc 2025 Term Loan B (2031)                                 | CUSIP: 88632NBK5<br>LEI: 04EEB871XLHVNY4RZJ65 | Long             | LON              | CORP              | US        |    286512 | PA      | $287497.56    | 0.04%             | 2031-03-21      | Floating      | 7.25%                 | No            |                  2 | On Loan: No      |
| GS Mortgage Securities Trust                                          | GS Mortgage Securities Trust 2019-GC38                                           | CUSIP: 36252SAW7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    624052 | PA      | $621121.46    | 0.08%             | 2052-02-10      | Fixed         | 3.84%                 | No            |                  2 | On Loan: No      |
| RIO TINTO FIN USA PLC                                                 | Rio Tinto Finance USA PLC                                                        | CUSIP: 76720AAG1<br>LEI: 2138006TSNBEUA761G16 | Long             | DBT              | CORP              | GB        |    400000 | PA      | $347225.34    | 0.05%             | 2042-08-21      | Fixed         | 4.13%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                            | Fannie Mae REMICS                                                                | CUSIP: 3136A6FA7<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    559528 | PA      | $75225.07     | 0.01%             | 2042-04-25      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| PIEDMONT NATURAL GAS CO                                               | Piedmont Natural Gas Co Inc                                                      | CUSIP: 720186AR6<br>LEI: VXB4M3BDPKF3I2AZ3G89 | Long             | DBT              | CORP              | US        |   4450000 | PA      | $4526752.35   | 0.62%             | 2035-02-15      | Fixed         | 5.10%                 | No            |                  2 | On Loan: No      |
| NRG ENERGY INC                                                        | NRG Energy Inc                                                                   | CUSIP: 629377CW0<br>LEI: 5E2UPK5SW04M13XY7I38 | Long             | DBT              | CORP              | US        |    542000 | PA      | $550439.48    | 0.08%             | 2033-02-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| WELLS FARGO SECURITIES LLC                                            | RRP FNMA 15YR U                                                                  | CUSIP: 000000000<br>LEI: VYVVCKR63DVZZN70PB21 | Short            | RA               | CORP              | US        |  -1077678 | PA      | $-1077678.29  | -0.15%            |  |  |  | No            |                  2 | On Loan: No      |
| VZ SECURED FINANCING BV                                               | VZ Secured Financing BV                                                          | CUSIP: 000000000<br>LEI: 549300MG611MYCOWY949 | Long             | DBT              | CORP              | NL        |    100000 | PA      | $117399.76    | 0.02%             | 2033-01-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Prodigy Finance Designated Activity Co                                | Prodigy Finance CM2021-1 DAC                                                     | CUSIP: 742855AC3<br>LEI: 635400HTAZNW3LYYMQ40 | Long             | ABS-O            | CORP              | IE        |     42531 | PA      | $43560.67     | 0.01%             | 2051-07-25      | Floating      | 8.02%                 | No            |                  2 | On Loan: No      |
| ERP Operating LP                                                      | ERP Operating LP                                                                 | CUSIP: 26884ABB8<br>LEI: DX5HQV5MLU50FEWZ5072 | Long             | DBT              | CORP              | US        |   1155000 | PA      | $1025478.66   | 0.14%             | 2044-07-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| LIGHT & WONDER INTL INC                                               | Light & Wonder International Inc                                                 | CUSIP: 531968AA3<br>LEI: RLTHESQ0RNFQJWPBJN60 | Long             | DBT              | CORP              | US        |     63000 | PA      | $65517.35     | 0.01%             | 2031-09-01      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| Countrywide Alternative Loan Trust                                    | Alternative Loan Trust 2006-OA21                                                 | CUSIP: 23245QAA7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    295957 | PA      | $256474.33    | 0.04%             | 2047-03-20      | Floating      | 4.44%                 | No            |                  2 | On Loan: No      |
| Delta Topco Inc                                                       | Delta TopCo Inc 2024 2nd Lien Term Loan                                          | CUSIP: 24780DAH0<br>LEI: N/A                  | Long             | LON              | CORP              | US        |     32000 | PA      | $31809.92     | 0.00%             | 2030-11-29      | Floating      | 9.52%                 | No            |                  2 | On Loan: No      |
| BOMBARDIER INC                                                        | Bombardier Inc                                                                   | CUSIP: 097751CB5<br>LEI: W7L3VLU8EHQY34Z36697 | Long             | DBT              | CORP              | CA        |     37000 | PA      | $39221.19     | 0.01%             | 2031-07-01      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| WHIRLPOOL CORP                                                        | Whirlpool Corp                                                                   | CUSIP: 963320BD7<br>LEI: WHENKOULSSK7WUM60H03 | Long             | DBT              | CORP              | US        |    152000 | PA      | $153190.50    | 0.02%             | 2030-06-15      | Fixed         | 6.13%                 | No            |                  2 | On Loan: No      |
| Gray Television Inc                                                   | Gray Television Inc 2021 Term Loan D                                             | CUSIP: 389376AZ7<br>LEI: 529900TM5726KDN7UU35 | Long             | LON              | CORP              | US        |     63700 | PA      | $63653.59     | 0.01%             | 2028-12-01      | Floating      | 7.39%                 | No            |                  2 | On Loan: No      |
| AETHON UN/AETHIN UN FIN                                               | Aethon United BR LP / Aethon United Finance Corp                                 | CUSIP: 00810GAD6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    267000 | PA      | $278453.23    | 0.04%             | 2029-10-01      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| Rockford Tower CLO Ltd                                                | Rockford Tower CLO 2021-3 Ltd                                                    | CUSIP: 77341NAL9<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   1709400 | PA      | $1716630.08   | 0.23%             | 2038-01-15      | Floating      | 5.72%                 | No            |                  2 | On Loan: No      |
| QUIKRETE HOLDINGS INC                                                 | Quikrete Holdings Inc                                                            | CUSIP: 74843PAB6<br>LEI: 5493007KIN86DIZWZT22 | Long             | DBT              | CORP              | US        |    167000 | PA      | $173628.85    | 0.02%             | 2033-03-01      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| HSBC BANK PLC                                                         | RRP LIMA METRO                                                                   | CUSIP: 000000000<br>LEI: MP6I5ZYZBEU3UXPYFY54 | Short            | RA               | CORP              | US        |  -3869257 | PA      | $-3869257.06  | -0.53%            |  |  |  | No            |                  2 | On Loan: No      |
| United Nations Development Corp                                       | UNITED NATIONS DEV CORP NY                                                       | CUSIP: 911157MF9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    850000 | PA      | $900629.26    | 0.12%             | 2055-08-01      | Fixed         | 6.54%                 | No            |                  2 | On Loan: No      |
| Baxalta Inc                                                           | Baxalta Inc                                                                      | CUSIP: 07177MAN3<br>LEI: 5493000JW8DCO3T45R55 | Long             | DBT              | CORP              | US        |    500000 | PA      | $479144.92    | 0.07%             | 2045-06-23      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| DIRECTV FINANCING LLC                                                 | Directv Financing LLC                                                            | CUSIP: 254945AA6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    290000 | PA      | $286439.18    | 0.04%             | 2030-02-01      | Fixed         | 8.88%                 | No            |                  2 | On Loan: No      |
| ALLIED UNIVERSAL                                                      | Allied Universal Holdco LLC / Allied Universal Finance Corp                      | CUSIP: 019576AF4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    571000 | PA      | $586890.93    | 0.08%             | 2030-06-15      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| BRISTOL-MYERS SQUIBB CO                                               | Bristol-Myers Squibb Co                                                          | CUSIP: 110122DK1<br>LEI: HLYYNH7UQUORYSJQCN42 | Long             | DBT              | CORP              | US        |    300000 | PA      | $255762.72    | 0.03%             | 2047-11-15      | Fixed         | 4.35%                 | No            |                  2 | On Loan: No      |
| United States Treasury                                                | U.S. Treasury Bonds                                                              | CUSIP: 912810UK2<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  70000000 | PA      | $70218750.00  | 9.61%             | 2055-05-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| Provident Funding Mortgage Trust                                      | Provident Funding Mortgage Trust 2024-1                                          | CUSIP: 74389BAA9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1438579 | PA      | $1445379.38   | 0.20%             | 2054-12-25      | Variable      | 5.50%                 | No            |                  2 | On Loan: No      |
| CITIGROUP INC                                                         | Citigroup Inc                                                                    | CUSIP: 172967PA3<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |   1567000 | PA      | $1710170.24   | 0.23%             | 2033-11-17      | Fixed         | 6.27%                 | No            |                  2 | On Loan: No      |
| BLUE RACER MID LLC/FINAN                                              | Blue Racer Midstream LLC / Blue Racer Finance Corp                               | CUSIP: 095796AJ7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    120000 | PA      | $124431.85    | 0.02%             | 2029-07-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| GOODYEAR TIRE & RUBBER                                                | Goodyear Tire & Rubber Co/The                                                    | CUSIP: 382550BS9<br>LEI: 5493002BI0S2ZQUY3437 | Long             | DBT              | CORP              | US        |     88000 | PA      | $89290.01     | 0.01%             | 2030-07-15      | Fixed         | 6.63%                 | No            |                  2 | On Loan: No      |
| ZAYO GROUP HOLDINGS INC                                               | Zayo Group Holdings Inc                                                          | CUSIP: 98919VAC9<br>LEI: 529900Z6OTS7RT0V0I47 | Long             | DBT              | CORP              | US        |    379124 | PA      | $363011.14    | 0.05%             | 2030-03-09      | Fixed         | 9.25%                 | No            |                  2 | On Loan: No      |
| Atlas CC Acquisition Corp                                             | Atlas CC Acquisition Corp Term Loan B                                            | CUSIP: 04921TAB0<br>LEI: 6HHLXIOGCDNZ4IRAIW26 | Long             | LON              | CORP              | US        |         0 | PA      | $0.00         | 0.00%             | 2028-05-25      | Floating      | 8.58%                 | No            |                  2 | On Loan: No      |
| SMB Private Education Loan Trust                                      | SMB Private Education Loan Trust 2021-A                                          | CUSIP: 78448YAC5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    255296 | PA      | $235870.51    | 0.03%             | 2053-01-15      | Fixed         | 1.59%                 | No            |                  2 | On Loan: No      |
| Barclays Bank PLC                                                     | PURCHASED USD / SOLD CAD                                                         | CUSIP: 000000000<br>LEI: G5GSEF7VJP5I7OUK5573 | N/A              | DFE              |  | US        |         1 | NC      | $687.35       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| MFRA Trust                                                            | MFA 2021-NQM1 Trust                                                              | CUSIP: 55283FAD0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   2750000 | PA      | $2334612.50   | 0.32%             | 2065-04-25      | Variable      | 2.31%                 | No            |                  2 | On Loan: No      |
| Peru Government International Bonds                                   | Peru Government International Bonds                                              | CUSIP: 715638DP4<br>LEI: 254900STKLK2DBJJZ530 | Long             | DBT              | NUSS              | PE        |     98000 | PA      | $80899.00     | 0.01%             | 2032-12-01      | Fixed         | 1.86%                 | No            |                  2 | On Loan: No      |
| FREEDOM MORTGAGE HOLD                                                 | Freedom Mortgage Holdings LLC                                                    | CUSIP: 35641AAA6<br>LEI: 254900ROJ91RGM43S156 | Long             | DBT              | CORP              | US        |     98000 | PA      | $103113.21    | 0.01%             | 2029-02-01      | Fixed         | 9.25%                 | No            |                  2 | On Loan: No      |
| JP Morgan Mortgage Trust                                              | J.P. Morgan Mortgage Trust 2022-INV3                                             | CUSIP: 46593FAD4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    650769 | PA      | $561914.88    | 0.08%             | 2052-09-25      | Variable      | 3.00%                 | No            |                  2 | On Loan: No      |
| Maricopa County Industrial Development Authority                      | MARICOPA CNTY AZ INDL DEV AUTH EDU REVENUE                                       | CUSIP: 56681NJD0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    890000 | PA      | $931947.78    | 0.13%             | 2029-10-01      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| DARLING INGREDIENTS INC                                               | Darling Ingredients Inc                                                          | CUSIP: 237266AJ0<br>LEI: L1N0SPPKS7EXZYUMZ898 | Long             | DBT              | CORP              | US        |      9000 | PA      | $9086.05      | 0.00%             | 2030-06-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| PRIME SECSRVC BRW/FINANC                                              | Prime Security Services Borrower LLC / Prime Finance Inc                         | CUSIP: 74166MAE6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    145000 | PA      | $144873.02    | 0.02%             | 2028-01-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| GREENSAIF PIPELINES BIDC                                              | Greensaif Pipelines Bidco Sarl                                                   | CUSIP: 39541EAD5<br>LEI: 549300YWDGUXPB8GRP47 | Long             | DBT              | CORP              | LU        |    200000 | PA      | $209804.00    | 0.03%             | 2036-02-23      | Fixed         | 5.85%                 | No            |                  2 | On Loan: No      |
| LIFEPOINT HEALTH INC                                                  | LifePoint Health Inc                                                             | CUSIP: 53219LAY5<br>LEI: 549300G8ZVHRTBBBSZ90 | Long             | DBT              | CORP              | US        |    109000 | PA      | $116162.19    | 0.02%             | 2032-02-15      | Fixed         | 8.38%                 | No            |                  2 | On Loan: No      |
| DEVON ENERGY CORPORATION                                              | Devon Energy Corp                                                                | CUSIP: 25179MAL7<br>LEI: 54930042348RKR3ZPN35 | Long             | DBT              | CORP              | US        |    300000 | PA      | $288801.04    | 0.04%             | 2041-07-15      | Fixed         | 5.60%                 | No            |                  2 | On Loan: No      |
| Foundation Building Materials Holding Company LLC                     | Foundation Building Materials Holding Company LLC 2024 Term Loan B2              | CUSIP: 35039KAD8<br>LEI: 549300ZVE6MONHB01I28 | Long             | LON              | CORP              | US        |    276058 | PA      | $276403.05    | 0.04%             | 2031-01-29      | Floating      | 8.31%                 | No            |                  2 | On Loan: No      |
| WELLS FARGO SECURITIES LLC                                            | RRP FNMA 15YR U                                                                  | CUSIP: 000000000<br>LEI: VYVVCKR63DVZZN70PB21 | Short            | RA               | CORP              | US        |   -806457 | PA      | $-806456.75   | -0.11%            |  |  |  | No            |                  2 | On Loan: No      |
| SERVICE PROPERTIES TRUST                                              | Service Properties Trust                                                         | CUSIP: 81761LAC6<br>LEI: 529900IS770AG1K9QG27 | Long             | DBT              |  | US        |    955000 | PA      | $1016782.77   | 0.14%             | 2031-11-15      | Fixed         | 8.63%                 | No            |                  2 | On Loan: No      |
| ASCENT RESOURCES/ARU FIN                                              | Ascent Resources Utica Holdings LLC / ARU Finance Corp                           | CUSIP: 04364VBA0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     90000 | PA      | $91499.53     | 0.01%             | 2033-07-15      | Fixed         | 6.63%                 | No            |                  2 | On Loan: No      |
| Barclays Commercial Mortgage Securities LLC                           | BBCMS Mortgage Trust 2025-C35                                                    | CUSIP: 07337DAQ3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    330000 | PA      | $269021.35    | 0.04%             | 2058-07-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| BOMBARDIER INC                                                        | Bombardier Inc                                                                   | CUSIP: 097751CC3<br>LEI: W7L3VLU8EHQY34Z36697 | Long             | DBT              | CORP              | CA        |    162000 | PA      | $169319.64    | 0.02%             | 2032-06-01      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| AAR ESCROW ISSUER LLC                                                 | AAR Escrow Issuer LLC                                                            | CUSIP: 00253PAA6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    253000 | PA      | $260444.43    | 0.04%             | 2029-03-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| PETROLEOS MEXICANOS                                                   | Petroleos Mexicanos                                                              | CUSIP: 71654QDL3<br>LEI: 549300CAZKPF4HKMPX17 | Long             | DBT              | CORP              | MX        |    165132 | PA      | $178218.71    | 0.02%             | 2029-06-02      | Fixed         | 8.75%                 | No            |                  2 | On Loan: No      |
| FISERV INC                                                            | Fiserv Inc                                                                       | CUSIP: 337738AV0<br>LEI: GI7UBEJLXYLGR2C7GV83 | Long             | DBT              | CORP              | US        |    500000 | PA      | $412250.24    | 0.06%             | 2049-07-01      | Fixed         | 4.40%                 | No            |                  2 | On Loan: No      |
| ANYWHERE RE GRP/REALOGY                                               | Anywhere Real Estate Group LLC / Realogy Co-Issuer Corp                          | CUSIP: 75606DAV3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    183000 | PA      | $199713.94    | 0.03%             | 2030-04-15      | Fixed         | 9.75%                 | No            |                  2 | On Loan: No      |
| Elmwood CLO 26 Ltd                                                    | Elmwood CLO 26 Ltd                                                               | CUSIP: 29004CAG3<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   1300000 | PA      | $1309490.13   | 0.18%             | 2037-04-18      | Floating      | 6.73%                 | No            |                  2 | On Loan: No      |
| Tenneco Inc                                                           | Tenneco Inc 2022 Term Loan A                                                     | CUSIP: 88037HAN4<br>LEI: 549300U0EXXFAQFAD785 | Long             | LON              | CORP              | US        |     15155 | PA      | $14792.00     | 0.00%             | 2028-11-17      | Floating      | 9.05%                 | No            |                  2 | On Loan: No      |
| FRONTIER COMMUNICATIONS                                               | Frontier Communications Holdings LLC                                             | CUSIP: 35908MAB6<br>LEI: 549300ZCZ76HYCS0H445 | Long             | DBT              | CORP              | US        |    130000 | PA      | $131529.19    | 0.02%             | 2030-01-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| NCL CORPORATION LTD                                                   | NCL Corp Ltd                                                                     | CUSIP: 62886HBZ3<br>LEI: UNZWILHE4KMRP9K2L524 | Long             | DBT              | CORP              | BM        |    416000 | PA      | $418153.12    | 0.06%             | 2033-09-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| WELLS FARGO SECURITIES LLC                                            | RRP FNMA 15YR U                                                                  | CUSIP: 000000000<br>LEI: VYVVCKR63DVZZN70PB21 | Short            | RA               | CORP              | US        |   -150870 | PA      | $-150870.38   | -0.02%            |  |  |  | No            |                  2 | On Loan: No      |
| KAISER ALUMINUM CORP                                                  | Kaiser Aluminum Corp                                                             | CUSIP: 483007AJ9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     90000 | PA      | $88992.15     | 0.01%             | 2028-03-01      | Fixed         | 4.63%                 | No            |                  2 | On Loan: No      |
| FANTASIA HOLDINGS GROUP                                               | Fantasia Holdings Group Co Ltd                                                   | CUSIP: 000000000<br>LEI: 5493005JQNLB3I01JW62 | Long             | DBT              | CORP              | KY        |    307000 | PA      | $5986.50      | 0.00%             | 2023-01-09      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| UWM HOLDINGS LLC                                                      | UWM Holdings LLC                                                                 | CUSIP: 903522AB6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    106000 | PA      | $105495.16    | 0.01%             | 2031-03-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| NOVELIS CORP                                                          | Novelis Corp                                                                     | CUSIP: 670001AH9<br>LEI: 549300G5F3W3B52WYL23 | Long             | DBT              | CORP              | US        |    175000 | PA      | $159545.42    | 0.02%             | 2031-08-15      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS & CO LLC                                                | RRP WYNN RESORT                                                                  | CUSIP: 000000000<br>LEI: FOR8UP27PHTHYVLBNG30 | Short            | RA               | CORP              | US        |    -98840 | PA      | $-98840.00    | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| HUB INTERNATIONAL LTD                                                 | HUB International Ltd                                                            | CUSIP: 44332PAH4<br>LEI: 549300JQT6ATTUNS5E06 | Long             | DBT              | CORP              | US        |   1090000 | PA      | $1136766.58   | 0.16%             | 2030-06-15      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| IVORY COAST                                                           | Ivory Coast Government International Bond                                        | CUSIP: 221625AV8<br>LEI: 254900ICW11T82O6H590 | Long             | DBT              | NUSS              | CI        |    200000 | PA      | $206800.00    | 0.03%             | 2036-04-01      | Fixed         | 8.08%                 | No            |                  2 | On Loan: No      |
| LUNA 1.5 SARL                                                         | Luna 1.5 Sarl                                                                    | CUSIP: 000000000<br>LEI: 64884UZ60Y77J5XK5C41 | Long             | DBT              | CORP              | LU        |    135000 | PA      | $164246.32    | 0.02%             | 2032-07-01      | Fixed         | 10.50%                | No            |                  2 | On Loan: No      |
| SIRIUS XM RADIO LLC                                                   | Sirius XM Radio LLC                                                              | CUSIP: 82967NBA5<br>LEI: WP5O65E6BMU84LNO4227 | Long             | DBT              | CORP              | US        |    216000 | PA      | $214962.79    | 0.03%             | 2027-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| KINETIK HOLDINGS LP                                                   | Kinetik Holdings LP                                                              | CUSIP: 49461MAB6<br>LEI: 549300RD6AJIMYC0HY12 | Long             | DBT              | CORP              | US        |     36000 | PA      | $36951.19     | 0.01%             | 2028-12-15      | Fixed         | 6.63%                 | No            |                  2 | On Loan: No      |
| NOMURA SECURITIES INTERNATIONAL INC                                   | RRP LOWES COMPA                                                                  | CUSIP: 000000000<br>LEI: OXTKY6Q8X53C9ILVV871 | Short            | RA               | CORP              | US        |   -971250 | PA      | $-971250.00   | -0.13%            |  |  |  | No            |                  2 | On Loan: No      |
| KINDER MORGAN INC                                                     | Kinder Morgan Inc                                                                | CUSIP: 49456BAJ0<br>LEI: 549300WR7IX8XE0TBO16 | Long             | DBT              | CORP              | US        |   1400000 | PA      | $1268769.39   | 0.17%             | 2046-02-15      | Fixed         | 5.05%                 | No            |                  2 | On Loan: No      |
| SHIFT4 PAYMENTS LLC/FIN                                               | Shift4 Payments LLC / Shift4 Payments Finance Sub Inc                            | CUSIP: 82453AAB3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    467000 | PA      | $482827.10    | 0.07%             | 2032-08-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| ROMANIA                                                               | Romanian Government International Bond                                           | CUSIP: 000000000<br>LEI: 315700IASY927EDWBK92 | Long             | DBT              | NUSS              | RO        |    179000 | PA      | $179157.20    | 0.02%             | 2031-07-16      | Fixed         | 2.12%                 | No            |                  2 | On Loan: No      |
| INSULET CORPORATION                                                   | Insulet Corp                                                                     | CUSIP: 45784PAL5<br>LEI: 549300TZTYD2PYN92D43 | Long             | DBT              | CORP              | US        |    125000 | PA      | $129954.00    | 0.02%             | 2033-04-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Crash Champions LLC                                                   | Crash Champions LLC 2024 Term Loan B                                             | CUSIP: 15870MAC0<br>LEI: 391200ZDD75EGEUJ7625 | Long             | LON              | CORP              | US        |    208890 | PA      | $195312.15    | 0.03%             | 2029-02-23      | Floating      | 8.95%                 | No            |                  2 | On Loan: No      |
| BX Trust                                                              | BX Trust 2021-LBA                                                                | CUSIP: 05609BCD9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1690000 | PA      | $1689471.88   | 0.23%             | 2036-02-15      | Floating      | 5.07%                 | No            |                  2 | On Loan: No      |
| CARNIVAL PLC                                                          | Carnival PLC                                                                     | CUSIP: 000000000<br>LEI: 4DR1VPDQMHD3N3QW8W95 | Long             | DBT              | CORP              | GB        |    235000 | PA      | $279299.20    | 0.04%             | 2031-07-15      | Fixed         | 4.13%                 | No            |                  2 | On Loan: No      |
| NOMURA SECURITIES INTERNATIONAL INC                                   | RRP TREASURY NO                                                                  | CUSIP: 000000000<br>LEI: OXTKY6Q8X53C9ILVV871 | Short            | RA               | CORP              | US        |  -1897625 | PA      | $-1897625.00  | -0.26%            |  |  |  | No            |                  2 | On Loan: No      |
| HSBC Holdings PLC                                                     | HSBC Holdings PLC                                                                | CUSIP: 404280BP3<br>LEI: MLU0ZO3ML4LN2LL2TL39 | Long             | DBT              | CORP              | GB        |   1090000 | PA      | $1113406.66   | 0.15%             | 2028-03-23      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| CENTURY COMMUNITIES                                                   | Century Communities Inc                                                          | CUSIP: 156504AN2<br>LEI: 5299002QMB2O7ZL1CA26 | Long             | DBT              | CORP              | US        |    104000 | PA      | $104910.96    | 0.01%             | 2033-09-15      | Fixed         | 6.63%                 | No            |                  2 | On Loan: No      |
| PRKCM Trust                                                           | PRKCM 2023-AFC2 Trust                                                            | CUSIP: 693964AA6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    900795 | PA      | $903493.52    | 0.12%             | 2058-06-25      | Fixed         | 6.48%                 | No            |                  2 | On Loan: No      |
| Nelnet Student Loan Trust                                             | Nelnet Student Loan Trust 2025-B                                                 | CUSIP: 64032BAE3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    549000 | PA      | $552839.76    | 0.08%             | 2055-05-17      | Fixed         | 6.04%                 | No            |                  2 | On Loan: No      |
| Wells Fargo Commercial Mortgage Trust                                 | Wells Fargo Commercial Mortgage Trust 2024-BPRC                                  | CUSIP: 95004AAJ2<br>LEI: 54930012YCNUERXJ1I74 | Long             | ABS-MBS          | CORP              | US        |    250000 | PA      | $251823.44    | 0.03%             | 2043-07-15      | Fixed         | 7.08%                 | No            |                  2 | On Loan: No      |
| PERMIAN RESOURC OPTG LLC                                              | Permian Resources Operating LLC                                                  | CUSIP: 71424VAB6<br>LEI: 5493004CTVUMQLRPOE23 | Long             | DBT              | CORP              | US        |    137000 | PA      | $139555.74    | 0.02%             | 2033-02-01      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| FORTRESS INTERMEDIATE                                                 | Fortress Intermediate 3 Inc                                                      | CUSIP: 34966MAA0<br>LEI: 254900NLAZ3JQJW5JP75 | Long             | DBT              | CORP              | US        |    363000 | PA      | $380075.88    | 0.05%             | 2031-06-01      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| JP MORGAN CHASE BANK                                                  | SWAP/CDSWAP/SCDS: (ADLERR)                                                       | CUSIP: 000000000<br>LEI: 7H6GLXDRUGQFU57RNE97 | N/A              | DCR              |  | XX        |      5545 | OU      | $365.75       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| MGM RESORTS INTL                                                      | MGM Resorts International                                                        | CUSIP: 552953CK5<br>LEI: 54930066VBP7DZEGGJ87 | Long             | DBT              | CORP              | US        |    129000 | PA      | $131295.86    | 0.02%             | 2029-09-15      | Fixed         | 6.13%                 | No            |                  2 | On Loan: No      |
| Point Broadband Funding LLC                                           | Point Broadband Funding LLC                                                      | CUSIP: 73052AAA9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    750000 | PA      | $766781.10    | 0.10%             | 2055-07-20      | Fixed         | 8.16%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                              | Ginnie Mae II Pool                                                               | CUSIP: 3618NJDW6<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    760386 | PA      | $788459.85    | 0.11%             | 2055-07-20      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| COMSTOCK RESOURCES INC                                                | Comstock Resources Inc                                                           | CUSIP: 205768AS3<br>LEI: I03QQGEA4SS774AURI46 | Long             | DBT              | CORP              | US        |    329000 | PA      | $328462.61    | 0.04%             | 2029-03-01      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| Lumen Technologies Inc                                                | Lumen Technologies Inc 2024 Term Loan A                                          | CUSIP: 55024EAD7<br>LEI: 8M3THTGWLTYZVE6BBY25 | Long             | LON              | CORP              | US        |     42371 | PA      | $43032.86     | 0.01%             | 2028-06-01      | Floating      | 10.16%                | No            |                  2 | On Loan: No      |
| UWM HOLDINGS LLC                                                      | UWM Holdings LLC                                                                 | CUSIP: 903522AA8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    154000 | PA      | $156661.61    | 0.02%             | 2030-02-01      | Fixed         | 6.63%                 | No            |                  2 | On Loan: No      |
| ADT SEC CORP                                                          | ADT Security Corp/The                                                            | CUSIP: 74166NAA2<br>LEI: 5493009JEEDYLVRA0J13 | Long             | DBT              | CORP              | US        |     25000 | PA      | $24211.16     | 0.00%             | 2032-07-15      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| TALLGRASS NRG PRTNR/FIN                                               | Tallgrass Energy Partners LP / Tallgrass Energy Finance Corp                     | CUSIP: 87470LAD3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     95000 | PA      | $94516.71     | 0.01%             | 2028-01-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| USI INC/NY                                                            | USI Inc/NY                                                                       | CUSIP: 90346KAB5<br>LEI: 2549006D7UF7072T7I27 | Long             | DBT              | CORP              | US        |    378000 | PA      | $396400.42    | 0.05%             | 2032-01-15      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| CAPITAL ONE FINANCIAL CO                                              | Capital One Financial Corp                                                       | CUSIP: 14040HCY9<br>LEI: ZUE8T73ROZOF6FLBAR73 | Long             | DBT              | CORP              | US        |    440000 | PA      | $461431.22    | 0.06%             | 2034-02-01      | Fixed         | 5.82%                 | No            |                  2 | On Loan: No      |
| IBM CORP                                                              | International Business Machines Corp                                             | CUSIP: 459200KY6<br>LEI: VGRQXHF3J8VDLUA7XE92 | Long             | DBT              | CORP              | US        |    550000 | PA      | $558976.42    | 0.08%             | 2033-02-06      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| TRANSDIGM INC                                                         | TransDigm Inc                                                                    | CUSIP: 893647BY2<br>LEI: 88Q84GB3X55CF5OC7582 | Long             | DBT              | CORP              | US        |    933000 | PA      | $943489.65    | 0.13%             | 2033-05-31      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| Countrywide Home Equity Loan Trust                                    | CWHEQ Revolving Home Equity Loan Trust Series 2006-I                             | CUSIP: 12668FAA2<br>LEI: 254900WKCCG7QRE77W83 | Long             | ABS-O            | CORP              | US        |    679961 | PA      | $654621.74    | 0.09%             | 2037-01-15      | Floating      | 4.40%                 | No            |                  2 | On Loan: No      |
| SUNOCO LP                                                             | SUNOCO LP                                                                        | CUSIP: 86765KAD1<br>LEI: 54930001NJU8E40NQ561 | Long             | DBT              | CORP              | US        |    134000 | PA      | $136390.86    | 0.02%             | 2033-07-01      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| H.B. FULLER CO                                                        | HB Fuller Co                                                                     | CUSIP: 40410KAA3<br>LEI: JSMX3Z5FOYM8V0Q52357 | Long             | DBT              | CORP              | US        |      3000 | PA      | $2917.14      | 0.00%             | 2028-10-15      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| Elmwood CLO VI Ltd.                                                   | Elmwood CLO VI Ltd                                                               | CUSIP: 29001VAW9<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    250000 | PA      | $250832.58    | 0.03%             | 2037-07-18      | Floating      | 6.03%                 | No            |                  2 | On Loan: No      |
| Long Beach Mortgage Loan Trust                                        | Long Beach Mortgage Loan Trust 2006-8                                            | CUSIP: 54251UAE6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   5746107 | PA      | $1469313.45   | 0.20%             | 2036-09-25      | Floating      | 4.75%                 | No            |                  2 | On Loan: No      |
| CHS/COMMUNITY HEALTH SYS                                              | CHS/Community Health Systems Inc                                                 | CUSIP: 12543DBM1<br>LEI: 5493007X5NC5XI1BB106 | Long             | DBT              | CORP              | US        |    764000 | PA      | $691148.15    | 0.09%             | 2030-05-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| LEVEL 3 FINANCING INC                                                 | Level 3 Financing Inc                                                            | CUSIP: 527298CN1<br>LEI: 254900AE5FEFIJOXWL19 | Long             | DBT              | CORP              | US        |   1107000 | PA      | $1126161.16   | 0.15%             | 2034-03-31      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| BOMBARDIER INC                                                        | Bombardier Inc                                                                   | CUSIP: 097751BX8<br>LEI: W7L3VLU8EHQY34Z36697 | Long             | DBT              | CORP              | CA        |    161000 | PA      | $161407.01    | 0.02%             | 2028-02-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| JPMorgan Chase & Co                                                   | JPMorgan Chase & Co                                                              | CUSIP: 46647PBD7<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $982799.77    | 0.13%             | 2030-05-06      | Fixed         | 3.70%                 | No            |                  2 | On Loan: No      |
| ILIAD SA                                                              | iliad SA                                                                         | CUSIP: 000000000<br>LEI: 969500FZ9BTRZS3JNB97 | Long             | DBT              | CORP              | FR        |    100000 | PA      | $118042.41    | 0.02%             | 2032-01-09      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| JONES DESLAURIERS INSURA                                              | Jones Deslauriers Insurance Management Inc                                       | CUSIP: 48020RAE5<br>LEI: 549300JQIWNFU00E5424 | Long             | DBT              | CORP              | CA        |    211000 | PA      | $209893.96    | 0.03%             | 2033-10-01      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| TRANSOCEAN INC                                                        | Transocean International Ltd                                                     | CUSIP: 893830BZ1<br>LEI: DOL4HJ22ADYSIWES4H94 | Long             | DBT              | CORP              | BM        |    110000 | PA      | $107803.38    | 0.01%             | 2031-05-15      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| CARVANA CO                                                            | Carvana Co                                                                       | CUSIP: 146869AM4<br>LEI: 5493003WEAK2PJ5WS063 | Long             | DBT              | CORP              | US        |    985732 | PA      | $1116073.37   | 0.15%             | 2031-06-01      | Fixed         | 9.00%                 | No            |                  2 | On Loan: No      |
| NOMURA SECURITIES INTERNATIONAL INC                                   | RRP TREASURY NO                                                                  | CUSIP: 000000000<br>LEI: OXTKY6Q8X53C9ILVV871 | Short            | RA               | CORP              | US        | -26640625 | PA      | $-26640625.00 | -3.64%            |  |  |  | No            |                  2 | On Loan: No      |
| Octagon Investment Partners 54 Ltd                                    | Octagon 54 Ltd                                                                   | CUSIP: 67577FAJ7<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    250000 | PA      | $249982.93    | 0.03%             | 2034-07-15      | Floating      | 7.63%                 | No            |                  2 | On Loan: No      |
| Star Parent Inc                                                       | Star Parent Inc Term Loan B                                                      | CUSIP: 87169DAB1<br>LEI: 254900GRGCJYRMDRWT73 | Long             | LON              | CORP              | US        |    352234 | PA      | $352085.57    | 0.05%             | 2030-09-27      | Floating      | 8.00%                 | No            |                  2 | On Loan: No      |
| CROWN AMERICAS LLC                                                    | Crown Americas LLC                                                               | CUSIP: 228180AC9<br>LEI: RPPGGRL1J75WGF2DFO04 | Long             | DBT              | CORP              | US        |    288000 | PA      | $290912.02    | 0.04%             | 2033-06-01      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| BARCLAYS CAPITAL INC                                                  | RRP HSBC HOLDIN                                                                  | CUSIP: 000000000<br>LEI: AC28XWWI3WIBK2824319 | Short            | RA               | CORP              | US        |   -224719 | PA      | $-224718.75   | -0.03%            |  |  |  | No            |                  2 | On Loan: No      |
| Fannie Mae                                                            | Fannie Mae Pool                                                                  | CUSIP: 3138AMUJ2<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    556843 | PA      | $556984.34    | 0.08%             | 2041-07-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| OPAL BIDCO SAS                                                        | OPAL BIDCO SAS                                                                   | CUSIP: 000000000<br>LEI: 969500R96XT7XY2UJ564 | Long             | DBT              | CORP              | FR        |    100000 | PA      | $121512.61    | 0.02%             | 2032-03-31      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| BOFA SECURITIES INC                                                   | RRP W R GRACE H                                                                  | CUSIP: 000000000<br>LEI: 549300HN4UKV1E2R3U73 | Short            | RA               | CORP              | US        |   -414509 | PA      | $-414508.75   | -0.06%            |  |  |  | No            |                  2 | On Loan: No      |
| JP Morgan Mortgage Trust                                              | J.P. Morgan Mortgage Trust 2022-DSC1                                             | CUSIP: 46656AAA5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    377296 | PA      | $372762.11    | 0.05%             | 2063-01-25      | Variable      | 4.75%                 | No            |                  2 | On Loan: No      |
| CIVITAS RESOURCES INC                                                 | Civitas Resources Inc                                                            | CUSIP: 17888HAA1<br>LEI: IIVIHPH28S64K95M2381 | Long             | DBT              | CORP              | US        |     56000 | PA      | $58046.74     | 0.01%             | 2028-07-01      | Fixed         | 8.38%                 | No            |                  2 | On Loan: No      |
| COLT Funding LLC                                                      | COLT 2023-3 Mortgage Loan Trust                                                  | CUSIP: 19688RAD1<br>LEI: 213800MIPEZY1A8W1N28 | Long             | ABS-MBS          | CORP              | US        |    800000 | PA      | $813007.28    | 0.11%             | 2068-09-25      | Variable      | 7.82%                 | No            |                  2 | On Loan: No      |
| VAIL RESORTS INC                                                      | Vail Resorts Inc                                                                 | CUSIP: 91879QAQ2<br>LEI: 529900PSZHRNU9HKH870 | Long             | DBT              | CORP              | US        |    122000 | PA      | $122762.50    | 0.02%             | 2030-07-15      | Fixed         | 5.63%                 | No            |                  2 | On Loan: No      |
| JOHN DEERE CAPITAL CORP                                               | John Deere Capital Corp                                                          | CUSIP: 24422EXX2<br>LEI: E0KSF7PFQ210NWI8Z391 | Long             | DBT              | CORP              | US        |    445000 | PA      | $448024.77    | 0.06%             | 2031-09-08      | Fixed         | 4.40%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                            | Fannie Mae Pool                                                                  | CUSIP: 3140J9V73<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   7068354 | PA      | $7047603.29   | 0.96%             | 2044-06-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                           | Freddie Mac Pool                                                                 | CUSIP: 3133WJWS4<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    253725 | PA      | $254318.36    | 0.03%             | 2037-08-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| BHMS Mortgage Trust                                                   | BHMS Commercial Mortgage Trust 2025-ATLS                                         | CUSIP: 088928AA4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    506000 | PA      | $507426.16    | 0.07%             | 2042-08-15      | Floating      | 6.00%                 | No            |                  2 | On Loan: No      |
| BLOCK INC                                                             | Block Inc                                                                        | CUSIP: 852234AT0<br>LEI: 549300OHIIUWSTIZME52 | Long             | DBT              | CORP              | US        |    204000 | PA      | $206688.31    | 0.03%             | 2030-08-15      | Fixed         | 5.63%                 | No            |                  2 | On Loan: No      |
| MC BRAZIL DWNSTRM                                                     | MC Brazil Downstream Trading SARL                                                | CUSIP: 000000000<br>LEI: 213800T2A7R9TYNXZI63 | Long             | DBT              | CORP              | LU        |    182442 | PA      | $156353.03    | 0.02%             | 2031-06-30      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| SUTTER HEALTH                                                         | Sutter Health                                                                    | CUSIP: 86944BAQ6<br>LEI: 549300MJCC12LU768G81 | Long             | DBT              | CORP              | US        |   1750000 | PA      | $1835509.20   | 0.25%             | 2035-08-15      | Fixed         | 5.54%                 | No            |                  2 | On Loan: No      |
| AMGEN INC                                                             | Amgen Inc                                                                        | CUSIP: 031162DS6<br>LEI: 62QBXGPJ34PQ72Z12S66 | Long             | DBT              | CORP              | US        |    650000 | PA      | $658614.01    | 0.09%             | 2043-03-02      | Fixed         | 5.60%                 | No            |                  2 | On Loan: No      |
| CCO HLDGS LLC/CAP CORP                                                | CCO Holdings LLC / CCO Holdings Capital Corp                                     | CUSIP: 1248EPCQ4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     78000 | PA      | $72131.42     | 0.01%             | 2032-02-01      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| ONEMAIN FINANCE CORP                                                  | OneMain Finance Corp                                                             | CUSIP: 682691AJ9<br>LEI: 5493008I795YYBFWFU90 | Long             | DBT              | CORP              | US        |    170000 | PA      | $173148.57    | 0.02%             | 2032-03-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| ONEMAIN FINANCE CORP                                                  | OneMain Finance Corp                                                             | CUSIP: 85172FAR0<br>LEI: 5493008I795YYBFWFU90 | Long             | DBT              | CORP              | US        |    133000 | PA      | $131492.14    | 0.02%             | 2029-11-15      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| HOWDEN UK REFINANCE / US                                              | Howden UK Refinance PLC / Howden UK Refinance 2 PLC / Howden US Refinance LLC    | CUSIP: 44287GAA4<br>LEI: N/A                  | Long             | DBT              | CORP              | GB        |   1000000 | PA      | $1029571.00   | 0.14%             | 2031-02-15      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| NCL CORPORATION LTD                                                   | NCL Corp Ltd                                                                     | CUSIP: 62886HBR1<br>LEI: UNZWILHE4KMRP9K2L524 | Long             | DBT              | CORP              | BM        |    250000 | PA      | $257107.90    | 0.04%             | 2032-02-01      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| TK ELEVATOR MIDCO GMBH                                                | TK Elevator Midco GmbH                                                           | CUSIP: 000000000<br>LEI: 254900K869UN2ZWVB351 | Long             | DBT              | CORP              | DE        |    303000 | PA      | $356136.54    | 0.05%             | 2027-07-15      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| IRON MOUNTAIN INC                                                     | Iron Mountain Inc                                                                | CUSIP: 46284VAQ4<br>LEI: SQL3F6CKNNBM3SQGHX24 | Long             | DBT              |  | US        |    165000 | PA      | $168302.48    | 0.02%             | 2033-01-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| United States Treasury                                                | U.S. Treasury Bonds                                                              | CUSIP: 912810UD8<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  30400000 | PA      | $28217374.85  | 3.86%             | 2044-08-15      | Fixed         | 4.13%                 | No            |                  2 | On Loan: No      |
| BANK OF NY MELLON CORP                                                | Bank of New York Mellon Corp/The                                                 | CUSIP: 064058AF7<br>LEI: WFLLPEPC7FZXENRZV188 | Long             | DBT              | CORP              | US        |   2750000 | PA      | $2730921.33   | 0.37%             | 2026-09-20      | Fixed         | 4.63%                 | No            |                  2 | On Loan: No      |
| ALLIANT HOLD / CO-ISSUER                                              | Alliant Holdings Intermediate LLC / Alliant Holdings Co-Issuer                   | CUSIP: 01883LAB9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    473000 | PA      | $465146.79    | 0.06%             | 2027-10-15      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| LCM INVESTMENTS HOLDINGS                                              | LCM Investments Holdings II LLC                                                  | CUSIP: 50190EAA2<br>LEI: 549300P5V78NNQTG4428 | Long             | DBT              | CORP              | US        |     45000 | PA      | $44088.87     | 0.01%             | 2029-05-01      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| MATCH GROUP HLD II LLC                                                | Match Group Holdings II LLC                                                      | CUSIP: 57667JAA0<br>LEI: 5493003RFFE030RC9167 | Long             | DBT              | CORP              | US        |     24000 | PA      | $21751.77     | 0.00%             | 2031-10-01      | Fixed         | 3.63%                 | No            |                  2 | On Loan: No      |
| Verus Securitization Trust                                            | Verus Securitization Trust 2023-1                                                | CUSIP: 92539BAA0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    714373 | PA      | $713775.75    | 0.10%             | 2067-12-25      | Variable      | 5.85%                 | No            |                  2 | On Loan: No      |
| United States Treasury                                                | U.S. Treasury Notes                                                              | CUSIP: 91282CJE2<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  26000000 | PA      | $26016433.04  | 3.56%             | 2025-10-31      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| HEALTHEQUITY INC                                                      | HealthEquity Inc                                                                 | CUSIP: 42226AAA5<br>LEI: 529900LRJU1RAFQHM467 | Long             | DBT              | CORP              | US        |    170000 | PA      | $164836.28    | 0.02%             | 2029-10-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| LABL INC                                                              | LABL Inc                                                                         | CUSIP: 50168QAE5<br>LEI: 5493004FUZN8R6Y3VB98 | Long             | DBT              | CORP              | US        |    417000 | PA      | $354257.35    | 0.05%             | 2028-11-01      | Fixed         | 9.50%                 | No            |                  2 | On Loan: No      |
| City of New York NY                                                   | NEW YORK NY                                                                      | CUSIP: 64966SHM1<br>LEI: 549300ABYZD2SFD5JB29 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $967272.19    | 0.13%             | 2049-10-01      | Fixed         | 5.09%                 | No            |                  2 | On Loan: No      |
| Foundation Building Materials Holding Company LLC                     | Foundation Building Materials Holding Company LLC 2021 Term Loan                 | CUSIP: 35039KAB2<br>LEI: 549300ZVE6MONHB01I28 | Long             | LON              | CORP              | US        |     77763 | PA      | $77800.33     | 0.01%             | 2028-01-31      | Floating      | 7.82%                 | No            |                  2 | On Loan: No      |
| Central Parent Inc                                                    | Central Parent Inc 2024 Term Loan B                                              | CUSIP: 15477BAE7<br>LEI: N/A                  | Long             | LON              | CORP              | US        |     55163 | PA      | $47592.94     | 0.01%             | 2029-07-06      | Floating      | 7.25%                 | No            |                  2 | On Loan: No      |
| GRAFTECH GLOBAL ENTERPRI                                              | GrafTech Global Enterprises Inc                                                  | CUSIP: 38431AAB2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     82000 | PA      | $69905.00     | 0.01%             | 2029-12-23      | Fixed         | 9.88%                 | No            |                  2 | On Loan: No      |
| AVIENT CORP                                                           | Avient Corp                                                                      | CUSIP: 05368VAB2<br>LEI: SM8L9RZYIB34LNTWO040 | Long             | DBT              | CORP              | US        |     94000 | PA      | $95459.20     | 0.01%             | 2031-11-01      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| ATHENAHEALTH GROUP INC                                                | AthenaHealth Group Inc                                                           | CUSIP: 60337JAA4<br>LEI: 254900AA3KZN4Q7A5Z33 | Long             | DBT              | CORP              | US        |   1917000 | PA      | $1901315.05   | 0.26%             | 2030-02-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| BRAVO Residential Funding Trust                                       | BRAVO Residential Funding Trust 2023-NQM4                                        | CUSIP: 10569YAA5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1000538 | PA      | $1007036.78   | 0.14%             | 2063-05-25      | Variable      | 6.44%                 | No            |                  2 | On Loan: No      |
| AVANTOR FUNDING INC                                                   | Avantor Funding Inc                                                              | CUSIP: 000000000<br>LEI: 5493003VM0XB4U8YD238 | Long             | DBT              | CORP              | US        |     38462 | PA      | $45135.47     | 0.01%             | 2025-11-01      | Fixed         | 2.63%                 | No            |                  2 | On Loan: No      |
| Oman Government International Bonds                                   | Oman Government International Bonds                                              | CUSIP: 000000000<br>LEI: 549300SZ20F0QTKNQC75 | Long             | DBT              | NUSS              | OM        |    200000 | PA      | $219859.92    | 0.03%             | 2048-01-17      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| Brand Industrial Services Inc                                         | Brand Industrial Services Inc 2024 Term Loan B                                   | CUSIP: 10524MAS6<br>LEI: 549300B658W2BPDQMW42 | Long             | LON              | CORP              | US        |    568460 | PA      | $513887.51    | 0.07%             | 2030-08-01      | Floating      | 8.80%                 | No            |                  2 | On Loan: No      |
| STAR ENERGY GEOTHERMAL                                                | Star Energy Geothermal Wayang Windu Ltd                                          | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | CORP              | VG        |    177970 | PA      | $183865.26    | 0.03%             | 2033-04-24      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| Ellington Financial Mortgage Trust                                    | Ellington Financial Mortgage Trust 2021-2                                        | CUSIP: 31572LAA4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    164108 | PA      | $138013.82    | 0.02%             | 2066-06-25      | Variable      | 0.93%                 | No            |                  2 | On Loan: No      |
| CP ATLAS BUYER INC                                                    | CP Atlas Buyer Inc                                                               | CUSIP: 12597YAC3<br>LEI: 2549006ZZ07G0NDDCR36 | Long             | DBT              | CORP              | US        |     41000 | PA      | $42939.30     | 0.01%             | 2030-07-15      | Fixed         | 9.75%                 | No            |                  2 | On Loan: No      |
| SABRE GLBL INC                                                        | Sabre GLBL Inc 2024 Term Loan B2                                                 | CUSIP: 78571YBL3<br>LEI: F2TJC7HPPHLHU1AQMP98 | Long             | LON              | CORP              | US        |     26403 | PA      | $24818.65     | 0.00%             | 2029-11-15      | Floating      | 10.26%                | No            |                  3 | On Loan: No      |
| SK INVICTUS INTERMEDIATE                                              | SK Invictus Intermediate II Sarl                                                 | CUSIP: 29977LAA9<br>LEI: N/A                  | Long             | DBT              | CORP              | LU        |    192000 | PA      | $187921.46    | 0.03%             | 2029-10-30      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CITIBANK NA                                                           | SWAP/CDSWAP/SCDS: (ADLERR)                                                       | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DCR              |  | XX        |      2649 | OU      | $174.72       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Chicago Board of Trade                                                | US 10YR ULTRA FUT DEC25                                                          | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DIR              |  | US        |      -147 | NC      | $16751.07     | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Momentive Performance Materials Inc                                   | Momentive Performance Materials Inc 2023 Term Loan                               | CUSIP: 60877JAG7<br>LEI: H2OFQI2FJX0T8IHKL414 | Long             | LON              | CORP              | US        |     51126 | PA      | $51279.75     | 0.01%             | 2028-03-29      | Floating      | 8.16%                 | No            |                  2 | On Loan: No      |
| ALTICE FRANCE SA                                                      | Altice France SA                                                                 | CUSIP: 02156LAF8<br>LEI: 5493001ZMCICV4N02J21 | Long             | DBT              | CORP              | FR        |    600000 | PA      | $512400.00    | 0.07%             | 2029-07-15      | Fixed         | 5.13%                 | No            |                  2 | On Loan: No      |
| WELLS FARGO & COMPANY                                                 | Wells Fargo & Co                                                                 | CUSIP: 95000U3K7<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | DBT              | CORP              | US        |   1290000 | PA      | $1345587.09   | 0.18%             | 2035-01-23      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| BOOST NEWCO BORROWER LLC                                              | Boost Newco Borrower LLC                                                         | CUSIP: 36268NAA8<br>LEI: 254900S8RE1OL7TTCU64 | Long             | DBT              | CORP              | US        |    200000 | PA      | $212178.80    | 0.03%             | 2031-01-15      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| MAYA SAS/FRANCE                                                       | Maya SAS/Paris France                                                            | CUSIP: 000000000<br>LEI: 9695009PXA7OI9NXN582 | Long             | DBT              | CORP              | FR        |    100000 | PA      | $119912.69    | 0.02%             | 2030-04-15      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| HUNGARY                                                               | Hungary Government International Bond                                            | CUSIP: 445545AP1<br>LEI: 5299003F3UFKGCCMAP43 | Long             | DBT              | NUSS              | HU        |    200000 | PA      | $204150.00    | 0.03%             | 2029-06-16      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| FIBERCOP SPA                                                          | Fibercop SpA                                                                     | CUSIP: 000000000<br>LEI: 8156007022402E114A31 | Long             | DBT              | CORP              | IT        |    100000 | PA      | $119252.90    | 0.02%             | 2030-06-30      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                           | Freddie Mac Pool                                                                 | CUSIP: 3132DTZH6<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    360381 | PA      | $340805.54    | 0.05%             | 2042-10-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Gryphon Acquire Newco, LLC                                            | GRYPHON ACQUIRE NEWCO LLC TERM LOAN B                                            | CUSIP: 40054QAB9<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    155000 | PA      | $155339.45    | 0.02%             | 2032-09-13      | Floating      | 6.88%                 | No            |                  2 | On Loan: No      |
| PNC FINANCIAL SERVICES                                                | PNC Financial Services Group Inc/The                                             | CUSIP: 693475BP9<br>LEI: CFGNEKW0P8842LEUIA51 | Long             | DBT              | CORP              | US        |   3584000 | PA      | $3677545.98   | 0.50%             | 2030-03-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| COLT Funding LLC                                                      | Colt 2024-7 Mortgage Loan Trust                                                  | CUSIP: 19688YAA2<br>LEI: 213800EA95GXXC9AJO50 | Long             | ABS-MBS          | CORP              | US        |   1312193 | PA      | $1322115.40   | 0.18%             | 2069-12-26      | Variable      | 5.54%                 | No            |                  2 | On Loan: No      |
| PEBBLEBROOK HOTEL/FINANC                                              | Pebblebrook Hotel LP / PEB Finance Corp                                          | CUSIP: 70510LAA7<br>LEI: N/A                  | Long             | DBT              |  | US        |     65000 | PA      | $65969.09     | 0.01%             | 2029-10-15      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| LIVE NATION ENTERTAINMEN                                              | Live Nation Entertainment Inc                                                    | CUSIP: 538034AR0<br>LEI: 5493007B9BM9ZXJINO78 | Long             | DBT              | CORP              | US        |     42000 | PA      | $41722.09     | 0.01%             | 2027-10-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| Citibank NA                                                           | PURCHASED USD / SOLD EUR                                                         | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DFE              |  | US        |         1 | NC      | $-465.36      | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| INTEL CORP                                                            | Intel Corp                                                                       | CUSIP: 458140CF5<br>LEI: KNX4USFCNGPY45LOCE31 | Long             | DBT              | CORP              | US        |    750000 | PA      | $771793.86    | 0.11%             | 2030-02-10      | Fixed         | 5.13%                 | No            |                  2 | On Loan: No      |
| BENIN INTL GOV BOND                                                   | Benin Government International Bond                                              | CUSIP: 08205QAA6<br>LEI: 635400Q11P6AE5A5Y230 | Long             | DBT              | NUSS              | BJ        |    200000 | PA      | $204282.00    | 0.03%             | 2038-02-13      | Fixed         | 7.96%                 | No            |                  2 | On Loan: No      |
| GGAM FINANCE LTD                                                      | GGAM Finance Ltd                                                                 | CUSIP: 36170JAE6<br>LEI: 254900X2QXEN0FVXRF65 | Long             | DBT              | CORP              | KY        |     72000 | PA      | $72990.00     | 0.01%             | 2030-03-15      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| FMR LLC                                                               | FMR LLC                                                                          | CUSIP: 30251BAD0<br>LEI: 6X064LF7Y6B4DKF2GZ26 | Long             | DBT              | CORP              | US        |   2300000 | PA      | $2320353.48   | 0.32%             | 2033-02-01      | Fixed         | 4.95%                 | No            |                  2 | On Loan: No      |
| BX Trust                                                              | BX Trust 2024-BIO                                                                | CUSIP: 05612AAJ5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    240000 | PA      | $239175.00    | 0.03%             | 2041-02-15      | Floating      | 6.79%                 | No            |                  2 | On Loan: No      |
| WR GRACE HOLDING LLC                                                  | WR Grace Holdings LLC                                                            | CUSIP: 92943GAF8<br>LEI: 549300WNOVFRGYOAEB12 | Long             | DBT              | CORP              | US        |    277000 | PA      | $273892.06    | 0.04%             | 2032-08-15      | Fixed         | 6.63%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                            | Fannie Mae Pool                                                                  | CUSIP: 3140QQJB2<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   1245563 | PA      | $1264670.06   | 0.17%             | 2037-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| WEATHERFORD INTERNATIONA                                              | Weatherford International Ltd                                                    | CUSIP: 947075AU1<br>LEI: 549300A2JKMG5PGOGF82 | Long             | DBT              | CORP              | BM        |    329000 | PA      | $336320.58    | 0.05%             | 2030-04-30      | Fixed         | 8.63%                 | No            |                  2 | On Loan: No      |
| ASURION LLC                                                           | Asurion LLC 2025 Term Loan B13                                                   | CUSIP: 04649VBE9<br>LEI: 549300KNQVXGIOXWK278 | Long             | LON              | CORP              | US        |     88623 | PA      | $87995.43     | 0.01%             | 2030-09-19      | Floating      | 8.41%                 | No            |                  2 | On Loan: No      |
| HILTON DOMESTIC OPERATIN                                              | Hilton Domestic Operating Co Inc                                                 | CUSIP: 432833AQ4<br>LEI: 5493003EG7H0N1E4XV50 | Long             | DBT              | CORP              | US        |     60000 | PA      | $61681.86     | 0.01%             | 2032-04-01      | Fixed         | 6.13%                 | No            |                  2 | On Loan: No      |
| BARCLAYS PLC                                                          | Barclays PLC                                                                     | CUSIP: 06738EBT1<br>LEI: 213800LBQA1Y9L22JB70 | Long             | DBT              | CORP              | GB        |    310000 | PA      | $297392.77    | 0.04%             | 2028-03-15      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| FTAI AVIATION INVESTORS                                               | FTAI Aviation Investors LLC                                                      | CUSIP: 34960PAE1<br>LEI: 529900E7PUVK6BC8PE80 | Long             | DBT              | CORP              | US        |    686000 | PA      | $728975.84    | 0.10%             | 2030-12-01      | Fixed         | 7.88%                 | No            |                  2 | On Loan: No      |
| MAYA SAS/FRANCE                                                       | Maya SAS/Paris France                                                            | CUSIP: 449691AG9<br>LEI: 9695009PXA7OI9NXN582 | Long             | DBT              | CORP              | FR        |    322000 | PA      | $328376.89    | 0.04%             | 2032-04-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| STONEPEAK NILE PARENT                                                 | Stonepeak Nile Parent LLC                                                        | CUSIP: 861932AA9<br>LEI: 254900TJV3VAFZD0GU41 | Long             | DBT              | CORP              | US        |     60000 | PA      | $63181.92     | 0.01%             | 2032-03-15      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| MANITOWOC COMPANY INC                                                 | Manitowoc Co Inc/The                                                             | CUSIP: 563571AN8<br>LEI: 2RTSLGQ89VMY18RHX631 | Long             | DBT              | CORP              | US        |     72000 | PA      | $75543.31     | 0.01%             | 2031-10-01      | Fixed         | 9.25%                 | No            |                  2 | On Loan: No      |
| BOFA SECURITIES INC                                                   | RRP ROCKET MORT                                                                  | CUSIP: 000000000<br>LEI: 549300HN4UKV1E2R3U73 | Short            | RA               | CORP              | US        |   -149000 | PA      | $-149000.00   | -0.02%            |  |  |  | No            |                  2 | On Loan: No      |
| QNITY ELECTRONICS INC                                                 | Qnity Electronics Inc                                                            | CUSIP: 74743LAA8<br>LEI: 254900RSUG4J9TFFZX53 | Long             | DBT              | CORP              | US        |    166000 | PA      | $167266.05    | 0.02%             | 2032-08-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| CLEAR CHANNEL OUTDOOR HO                                              | Clear Channel Outdoor Holdings Inc                                               | CUSIP: 18453HAH9<br>LEI: 254900XBEE6V1ENYS150 | Long             | DBT              | CORP              | US        |    605000 | PA      | $632569.25    | 0.09%             | 2033-03-15      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| WELLS FARGO SECURITIES LLC                                            | RRP FNMA 15YR U                                                                  | CUSIP: 000000000<br>LEI: VYVVCKR63DVZZN70PB21 | Short            | RA               | CORP              | US        |  -1336383 | PA      | $-1336383.01  | -0.18%            |  |  |  | No            |                  2 | On Loan: No      |
| ARCOSA INC                                                            | Arcosa Inc                                                                       | CUSIP: 039653AC4<br>LEI: 549300WFHLTCZV7D6V29 | Long             | DBT              | CORP              | US        |     15000 | PA      | $15667.40     | 0.00%             | 2032-08-15      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| BOFA SECURITIES INC                                                   | RRP DEUTSCHE BA                                                                  | CUSIP: 000000000<br>LEI: 549300HN4UKV1E2R3U73 | Short            | RA               | CORP              | US        |   -831852 | PA      | $-831852.50   | -0.11%            |  |  |  | No            |                  2 | On Loan: No      |
| UnitedHealth Group Inc                                                | UnitedHealth Group Inc                                                           | CUSIP: 91324PAR3<br>LEI: 549300GHBMY8T5GXDE41 | Long             | DBT              | CORP              | US        |   1750000 | PA      | $1874383.81   | 0.26%             | 2036-03-15      | Fixed         | 5.80%                 | No            |                  2 | On Loan: No      |
| LAMB WESTON HLD                                                       | Lamb Weston Holdings Inc                                                         | CUSIP: 513272AE4<br>LEI: 5493005SMYID1D2OY946 | Long             | DBT              | CORP              | US        |    110000 | PA      | $103963.36    | 0.01%             | 2032-01-31      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| TEVA PHARMACEUTICALS NE                                               | Teva Pharmaceutical Finance Netherlands III BV                                   | CUSIP: 88167AAT8<br>LEI: 5493004T21MOAFINJP35 | Long             | DBT              | CORP              | NL        |    200000 | PA      | $207750.00    | 0.03%             | 2032-12-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| US BANCORP INVESTMENTS INC                                            | RRP AMERICAN EL                                                                  | CUSIP: 000000000<br>LEI: H85Z6XZP8B10ES0M2G89 | Short            | RA               | CORP              | US        |  -3105000 | PA      | $-3105000.00  | -0.42%            |  |  |  | No            |                  2 | On Loan: No      |
| Verus Securitization Trust                                            | Verus Securitization Trust 2024-R1                                               | CUSIP: 924926AA6<br>LEI: 213800A8V9BALJ9WKP38 | Long             | ABS-MBS          | CORP              | US        |   1508507 | PA      | $1509042.32   | 0.21%             | 2069-09-25      | Variable      | 5.22%                 | No            |                  2 | On Loan: No      |
| NATIONSTAR MTG HLD INC                                                | Nationstar Mortgage Holdings Inc                                                 | CUSIP: 63861CAD1<br>LEI: 549300DQF6YN0E43PM71 | Long             | DBT              | CORP              | US        |     87000 | PA      | $87765.60     | 0.01%             | 2030-12-15      | Fixed         | 5.13%                 | No            |                  2 | On Loan: No      |
| CIFC Funding Ltd                                                      | CIFC Funding 2018-I Ltd                                                          | CUSIP: 17181NAG9<br>LEI: 635400VBVF8AYJQBI411 | Long             | ABS-CBDO         | CORP              | KY        |   1295000 | PA      | $1300361.43   | 0.18%             | 2038-01-18      | Floating      | 6.03%                 | No            |                  2 | On Loan: No      |
| VALLOUREC SACA                                                        | Vallourec SACA                                                                   | CUSIP: 92023RAA8<br>LEI: 969500P2Q1B47H4MCJ34 | Long             | DBT              | CORP              | FR        |    200000 | PA      | $213093.00    | 0.03%             | 2032-04-15      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| Point Broadband Funding LLC                                           | Point Broadband Funding LLC                                                      | CUSIP: 73052AAC5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1000000 | PA      | $1009017.10   | 0.14%             | 2055-07-20      | Fixed         | 5.34%                 | No            |                  2 | On Loan: No      |
| PMT Loan Trust                                                        | PMT Loan Trust 2024-INV1                                                         | CUSIP: 73015BAC9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1761794 | PA      | $1773380.83   | 0.24%             | 2059-10-25      | Variable      | 5.50%                 | No            |                  2 | On Loan: No      |
| SERVICE CORP INTL                                                     | Service Corp International/US                                                    | CUSIP: 817565CH5<br>LEI: 549300RKVM2ME20JHZ15 | Long             | DBT              | CORP              | US        |    428000 | PA      | $433597.38    | 0.06%             | 2032-10-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| CLOVER HOLDINGS 2 LLC                                                 | Clover Holdings 2 LLC Fixed Term Loan B                                          | CUSIP: 18914DAC2<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    959595 | PA      | $964997.52    | 0.13%             | 2031-12-09      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| VENTURE GLOBAL LNG INC                                                | Venture Global LNG Inc                                                           | CUSIP: 92332YAB7<br>LEI: 54930011XLBUWMQUC829 | Long             | DBT              | CORP              | US        |    815000 | PA      | $855725.80    | 0.12%             | 2031-06-01      | Fixed         | 8.38%                 | No            |                  2 | On Loan: No      |
| FIBERCOP SPA                                                          | Fibercop SpA                                                                     | CUSIP: 000000000<br>LEI: 8156007022402E114A31 | Long             | DBT              | CORP              | IT        |    100000 | PA      | $119331.99    | 0.02%             | 2032-06-30      | Fixed         | 5.13%                 | No            |                  2 | On Loan: No      |
| ALBION FINANCING 1SARL /                                              | Albion Financing 1 SARL / Aggreko Holdings Inc                                   | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | CORP              | LU        |    100000 | PA      | $121792.27    | 0.02%             | 2030-05-21      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| NOVELIS CORP                                                          | Novelis Corp                                                                     | CUSIP: 670001AE6<br>LEI: 549300G5F3W3B52WYL23 | Long             | DBT              | CORP              | US        |     95000 | PA      | $91548.18     | 0.01%             | 2030-01-30      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| THERMO FISHER SCIENTIFIC                                              | Thermo Fisher Scientific Inc                                                     | CUSIP: 883556CM2<br>LEI: HCHV7422L5HDJZCRFL38 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $738828.20    | 0.10%             | 2041-10-15      | Fixed         | 2.80%                 | No            |                  2 | On Loan: No      |
| T-MOBILE USA INC                                                      | T-Mobile USA Inc                                                                 | CUSIP: 87264ABF1<br>LEI: 549300V2JRLO5DIFGE82 | Long             | DBT              | CORP              | US        |   2000000 | PA      | $1961177.06   | 0.27%             | 2030-04-15      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| WHITE CAP BUYER LLC                                                   | White Cap Buyer LLC                                                              | CUSIP: 96350RAA2<br>LEI: 254900L2N0T6GULCL366 | Long             | DBT              | CORP              | US        |   1194000 | PA      | $1190453.22   | 0.16%             | 2028-10-15      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| WOM CHILE HOLDCO SPA                                                  | WOM Chile Holdco SpA                                                             | CUSIP: 97810KAA9<br>LEI: N/A                  | Long             | DBT              | CORP              | CL        |    245007 | PA      | $218056.23    | 0.03%             | 2032-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Chase Mortgage Finance Corporation                                    | Chase Home Lending Mortgage Trust 2019-ATR1                                      | CUSIP: 16158RAN6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    393379 | PA      | $397750.86    | 0.05%             | 2049-04-25      | Variable      | 6.50%                 | No            |                  2 | On Loan: No      |
| BOFA SECURITIES INC                                                   | RRP ATHENAHEALT                                                                  | CUSIP: 000000000<br>LEI: 549300HN4UKV1E2R3U73 | Short            | RA               | CORP              | US        |  -1440146 | PA      | $-1440146.25  | -0.20%            |  |  |  | No            |                  2 | On Loan: No      |
| SOUTHERN CAL EDISON                                                   | Southern California Edison Co                                                    | CUSIP: 842400FA6<br>LEI: 9R1Z5I36FERIBVKW4P77 | Long             | DBT              | CORP              | US        |   1300000 | PA      | $1302211.09   | 0.18%             | 2035-07-15      | Fixed         | 5.35%                 | No            |                  2 | On Loan: No      |
| Structured Asset Securities Corporation                               | Structured Asset Securities Corp Pass-Through Certificates Series 2002-AL1       | CUSIP: 86358RXY8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      9829 | PA      | $8349.37      | 0.00%             | 2032-02-25      | Fixed         | 3.45%                 | No            |                  2 | On Loan: No      |
| VEON MIDCO BV                                                         | Veon Midco BV                                                                    | CUSIP: 000000000<br>LEI: 213800GOFSH7EPKBRE50 | Long             | DBT              | CORP              | NL        |    200000 | PA      | $187375.00    | 0.03%             | 2027-11-25      | Fixed         | 3.38%                 | No            |                  2 | On Loan: No      |
| GCAT                                                                  | GCAT 2022-NQM3 Trust                                                             | CUSIP: 36168MAA1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    971511 | PA      | $968067.37    | 0.13%             | 2067-04-25      | Variable      | 4.35%                 | No            |                  2 | On Loan: No      |
| CLEAR CHANNEL OUTDOOR HO                                              | Clear Channel Outdoor Holdings Inc                                               | CUSIP: 18453HAC0<br>LEI: 254900XBEE6V1ENYS150 | Long             | DBT              | CORP              | US        |    335000 | PA      | $334390.84    | 0.05%             | 2028-04-15      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| Advisor Group Inc                                                     | Advisor Group Inc 2025 Term Loan                                                 | CUSIP: 68773JAG5<br>LEI: 549300XL60BDV6UW5C86 | Long             | LON              | CORP              | US        |    159738 | PA      | $159619.79    | 0.02%             | 2032-07-30      | Floating      | 7.16%                 | No            |                  2 | On Loan: No      |
| HILTON DOMESTIC OPERATIN                                              | Hilton Domestic Operating Co Inc                                                 | CUSIP: 432833AS0<br>LEI: 5493003EG7H0N1E4XV50 | Long             | DBT              | CORP              | US        |     32000 | PA      | $32427.20     | 0.00%             | 2033-09-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| University of Massachusetts Building Authority                        | UNIV OF MASSACHUSETTS MA BLDG AUTH REVENUE                                       | CUSIP: 914437US5<br>LEI: 6ILE2573NPR1XO2TR556 | Long             | DBT              | MUN               | US        |    500000 | PA      | $422402.92    | 0.06%             | 2040-11-01      | Fixed         | 3.43%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF NIGERIA                                                   | Nigeria Government International Bond                                            | CUSIP: 65412AFD9<br>LEI: 549300GSBZD84TNEQ285 | Long             | DBT              | NUSS              | NG        |    200000 | PA      | $222600.00    | 0.03%             | 2034-12-09      | Fixed         | 10.38%                | No            |                  2 | On Loan: No      |
| Reynolds American Inc                                                 | Reynolds American Inc                                                            | CUSIP: 761713BW5<br>LEI: 02S2RPPVO9RP4NEU2740 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $1081698.33   | 0.15%             | 2041-08-04      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| Mill City Mortgage Trust                                              | Mill City Mortgage Loan Trust 2023-NQM2                                          | CUSIP: 59981CAA0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1387409 | PA      | $1389976.99   | 0.19%             | 2067-12-25      | Variable      | 6.24%                 | No            |                  2 | On Loan: No      |
| Navient Student Loan Trust                                            | Navient Private Education Refi Loan Trust 2019-G                                 | CUSIP: 63941JAA6<br>LEI: 549300ZUZB9UCBWEBN39 | Long             | ABS-O            | CORP              | US        |    101642 | PA      | $98863.26     | 0.01%             | 2068-10-15      | Fixed         | 2.40%                 | No            |                  2 | On Loan: No      |
| EVERSOURCE ENERGY                                                     | Eversource Energy                                                                | CUSIP: 30040WAL2<br>LEI: SJ7XXD41SQU3ZNWUJ746 | Long             | DBT              | CORP              | US        |    350000 | PA      | $315575.32    | 0.04%             | 2031-03-15      | Fixed         | 2.55%                 | No            |                  2 | On Loan: No      |
| AT&T Inc                                                              | AT&T Inc                                                                         | CUSIP: 00206RDS8<br>LEI: 549300Z40J86GGSTL398 | Long             | DBT              | CORP              | US        |   1500000 | PA      | $1450272.63   | 0.20%             | 2047-03-01      | Fixed         | 5.45%                 | No            |                  2 | On Loan: No      |
| APOLLO DEBT SOLUTIONS BD                                              | Apollo Debt Solutions BDC                                                        | CUSIP: 03770DAD5<br>LEI: 549300UMUGX092P8DW87 | Long             | DBT              | CORP              | US        |    105000 | PA      | $111280.21    | 0.02%             | 2031-07-29      | Fixed         | 6.70%                 | No            |                  2 | On Loan: No      |
| BOFA SECURITIES INC                                                   | RRP BERKSHIRE H                                                                  | CUSIP: 000000000<br>LEI: 549300HN4UKV1E2R3U73 | Short            | RA               | CORP              | US        |   -451250 | PA      | $-451250.00   | -0.06%            |  |  |  | No            |                  2 | On Loan: No      |
| Oak Hill Credit                                                       | OHA Credit Funding 12-R Ltd                                                      | CUSIP: 676916AL3<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   1250000 | PA      | $1252488.63   | 0.17%             | 2037-07-20      | Floating      | 6.13%                 | No            |                  2 | On Loan: No      |
| CSC Holdings LLC                                                      | CSC Holdings LLC 2022 Term Loan B6                                               | CUSIP: 64072UAM4<br>LEI: 3HG2WD2W22M120IUNG49 | Long             | LON              | CORP              | US        |    257779 | PA      | $255956.21    | 0.04%             | 2028-01-18      | Floating      | 8.65%                 | No            |                  2 | On Loan: No      |
| ICAHN ENTERPRISES/FIN                                                 | Icahn Enterprises LP / Icahn Enterprises Finance Corp                            | CUSIP: 451102BZ9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    392000 | PA      | $385314.91    | 0.05%             | 2027-05-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| WELLS FARGO SECURITIES LLC                                            | RRP FNMA 30YR                                                                    | CUSIP: 000000000<br>LEI: VYVVCKR63DVZZN70PB21 | Short            | RA               | CORP              | US        |   -527326 | PA      | $-527326.15   | -0.07%            |  |  |  | No            |                  2 | On Loan: No      |
| HILCORP ENERGY I/HILCORP                                              | Hilcorp Energy I LP / Hilcorp Finance Co                                         | CUSIP: 431318AY0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     12000 | PA      | $11792.97     | 0.00%             | 2030-04-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| CCO HLDGS LLC/CAP CORP                                                | CCO Holdings LLC / CCO Holdings Capital Corp                                     | CUSIP: 1248EPCB7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     21000 | PA      | $20859.96     | 0.00%             | 2029-06-01      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| LEVEL 3 FINANCING INC                                                 | Level 3 Financing Inc                                                            | CUSIP: 527298CF8<br>LEI: 254900AE5FEFIJOXWL19 | Long             | DBT              | CORP              | US        |     60000 | PA      | $52385.61     | 0.01%             | 2030-10-15      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| CLOUD SOFTWARE GRP INC                                                | Cloud Software Group Inc                                                         | CUSIP: 88632QAE3<br>LEI: 04EEB871XLHVNY4RZJ65 | Long             | DBT              | CORP              | US        |   1461000 | PA      | $1474178.67   | 0.20%             | 2029-03-31      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| WELLS FARGO SECURITIES LLC                                            | RRP FNMA 30YR U                                                                  | CUSIP: 000000000<br>LEI: VYVVCKR63DVZZN70PB21 | Short            | RA               | CORP              | US        |  -1468243 | PA      | $-1468243.33  | -0.20%            |  |  |  | No            |                  2 | On Loan: No      |
| Deutsche Bank AG                                                      | PURCHASED USD / SOLD EUR                                                         | CUSIP: 000000000<br>LEI: 7LTWFZYICNSX8D621K86 | N/A              | DFE              |  | US        |         1 | NC      | $1050.01      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Morgan Stanley & Co. International PLC                                | PURCHASED USD / SOLD GBP                                                         | CUSIP: 000000000<br>LEI: 4PQUHN3JPFGFNF3BB653 | N/A              | DFE              |  | US        |         1 | NC      | $4444.47      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| ALPHA STAR HO IX LTD                                                  | Alpha Star Holding IX Ltd                                                        | CUSIP: 000000000<br>LEI: 254900IL2SBV9ANGBE89 | Long             | DBT              | CORP              | AE        |    200000 | PA      | $204900.00    | 0.03%             | 2028-08-26      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| STARWOOD PROPERTY TRUST                                               | Starwood Property Trust Inc                                                      | CUSIP: 85571BBD6<br>LEI: BUGSFQZERKRBFWIG5267 | Long             | DBT              |  | US        |    119000 | PA      | $123086.86    | 0.02%             | 2030-07-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| CITIGROUP INC                                                         | Citigroup Inc                                                                    | CUSIP: 172967NN7<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |   2000000 | PA      | $1899965.94   | 0.26%             | 2033-03-17      | Fixed         | 3.79%                 | No            |                  2 | On Loan: No      |
| MPLX LP                                                               | MPLX LP                                                                          | CUSIP: 55336VBN9<br>LEI: 5493000CZJ19CK4P3G36 | Long             | DBT              | CORP              | US        |    250000 | PA      | $250243.49    | 0.03%             | 2027-12-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| SABRE GLBL INC                                                        | Sabre GLBL Inc 2024 Term Loan B1                                                 | CUSIP: 78571YBK5<br>LEI: F2TJC7HPPHLHU1AQMP98 | Long             | LON              | CORP              | US        |     44987 | PA      | $42287.81     | 0.01%             | 2029-11-15      | Floating      | 10.26%                | No            |                  3 | On Loan: No      |
| Whitebox CLO Ltd                                                      | Whitebox Clo II Ltd                                                              | CUSIP: 96466CBE7<br>LEI: 549300C89ZJ5IWOT1F21 | Long             | ABS-CBDO         | CORP              | KY        |    500000 | PA      | $504080.45    | 0.07%             | 2037-10-24      | Floating      | 7.22%                 | No            |                  2 | On Loan: No      |
| IBM CORP                                                              | International Business Machines Corp                                             | CUSIP: 459200KP5<br>LEI: VGRQXHF3J8VDLUA7XE92 | Long             | DBT              | CORP              | US        |    750000 | PA      | $529630.22    | 0.07%             | 2052-02-09      | Fixed         | 3.43%                 | No            |                  2 | On Loan: No      |
| RealPage Inc                                                          | RealPage Inc 1st Lien Term Loan                                                  | CUSIP: 75605VAD4<br>LEI: 5493001RSFZX4122A604 | Long             | LON              | CORP              | US        |    211200 | PA      | $210617.09    | 0.03%             | 2028-04-24      | Floating      | 7.26%                 | No            |                  2 | On Loan: No      |
| CARNIVAL CORP                                                         | Carnival Corp                                                                    | CUSIP: 143658BZ4<br>LEI: F1OF2ZSX47CR0BCWA982 | Long             | DBT              | CORP              | PA        |    107000 | PA      | $109647.50    | 0.01%             | 2031-06-15      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| Visio Trust                                                           | Visio 2023-2 Trust                                                               | CUSIP: 92839CAA5<br>LEI: 549300ZCGJ6T8YDJ4M34 | Long             | ABS-MBS          | CORP              | US        |   1065755 | PA      | $1074676.56   | 0.15%             | 2058-10-25      | Variable      | 6.60%                 | No            |                  2 | On Loan: No      |
| BUILDERS FIRSTSOURCE INC                                              | Builders FirstSource Inc                                                         | CUSIP: 12008RAT4<br>LEI: 549300W0SKP6L3H7DP63 | Long             | DBT              | CORP              | US        |     91000 | PA      | $95016.06     | 0.01%             | 2035-05-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| HARVEST MIDSTREAM I LP                                                | Harvest Midstream I LP                                                           | CUSIP: 417558AB9<br>LEI: 549300DW5M17KJOXCY66 | Long             | DBT              | CORP              | US        |     58000 | PA      | $59247.29     | 0.01%             | 2032-05-15      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| CMG MEDIA CORPORATION                                                 | CMG Media Corp                                                                   | CUSIP: 125773AA9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    127000 | PA      | $116639.34    | 0.02%             | 2029-06-18      | Fixed         | 8.88%                 | No            |                  2 | On Loan: No      |
| CLYDESDALE ACQUISITION                                                | Clydesdale Acquisition Holdings Inc                                              | CUSIP: 18972EAA3<br>LEI: 254900QKSDYFR3K5YD98 | Long             | DBT              | CORP              | US        |    219000 | PA      | $221494.63    | 0.03%             | 2029-04-15      | Fixed         | 6.63%                 | No            |                  2 | On Loan: No      |
| ONEMAIN FINANCE CORP                                                  | OneMain Finance Corp                                                             | CUSIP: 682691AA8<br>LEI: 5493008I795YYBFWFU90 | Long             | DBT              | CORP              | US        |     71000 | PA      | $65998.49     | 0.01%             | 2030-09-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| CVS HEALTH CORP                                                       | CVS Health Corp                                                                  | CUSIP: 126650EG1<br>LEI: 549300EJG376EN5NQE29 | Long             | DBT              | CORP              | US        |    320000 | PA      | $330315.20    | 0.05%             | 2054-12-10      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| Dryden Senior Loan Fund                                               | Dryden 37 Senior Loan Fund                                                       | CUSIP: 26249MAN7<br>LEI: 254900I0IPNA482LDS44 | Long             | ABS-CBDO         | CORP              | KY        |     77465 | PA      | $77621.39     | 0.01%             | 2031-01-15      | Floating      | 5.68%                 | No            |                  2 | On Loan: No      |
| HERC HOLDINGS INC                                                     | Herc Holdings Inc                                                                | CUSIP: 42704LAF1<br>LEI: 549300TP80QLITMSBP82 | Long             | DBT              | CORP              | US        |    257000 | PA      | $266952.58    | 0.04%             | 2030-06-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| WYNN RESORTS FINANCE LLC                                              | Wynn Resorts Finance LLC / Wynn Resorts Capital Corp                             | CUSIP: 983133AC3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    112000 | PA      | $120550.72    | 0.02%             | 2031-02-15      | Fixed         | 7.13%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                            | Fannie Mae Pool                                                                  | CUSIP: 3140QQJD8<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    816212 | PA      | $826753.41    | 0.11%             | 2037-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SMB Private Education Loan Trust                                      | SMB Private Education Loan Trust 2019-A                                          | CUSIP: 78449TAB7<br>LEI: 549300WEYOS38NWU8D22 | Long             | ABS-O            | CORP              | US        |    539204 | PA      | $533534.09    | 0.07%             | 2036-07-15      | Fixed         | 3.44%                 | No            |                  2 | On Loan: No      |
| ARDONAGH MIDCO 3 PLC                                                  | Ardonagh Midco 3 PLC 2024 USD Term Loan B                                        | CUSIP: 000000000<br>LEI: 254900YP2E642AGM4G32 | Long             | LON              | CORP              | AU        |     90572 | PA      | $90043.83     | 0.01%             | 2031-02-15      | Floating      | 6.95%                 | No            |                  2 | On Loan: No      |
| USA COM PART/USA COM FIN                                              | USA Compression Partners LP / USA Compression Finance Corp                       | CUSIP: 91740PAH1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    334000 | PA      | $335277.62    | 0.05%             | 2033-10-01      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| BUCKEYE PARTNERS LP                                                   | Buckeye Partners LP                                                              | CUSIP: 118230AW1<br>LEI: 549300C1PQJLVEIUBK50 | Long             | DBT              | CORP              | US        |     46000 | PA      | $47777.85     | 0.01%             | 2030-02-01      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                            | Fannie Mae Pool                                                                  | CUSIP: 3140XQWJ2<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   2124311 | PA      | $2172741.94   | 0.30%             | 2045-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PIKE CORP                                                             | Pike Corp                                                                        | CUSIP: 721283AB5<br>LEI: 549300P4EKEP6HK0NC58 | Long             | DBT              | CORP              | US        |     57000 | PA      | $61146.58     | 0.01%             | 2031-01-31      | Fixed         | 8.63%                 | No            |                  2 | On Loan: No      |
| METHANEX US OPERATIONS                                                | Methanex US Operations Inc                                                       | CUSIP: 59151LAA4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    117000 | PA      | $119043.76    | 0.02%             | 2032-03-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| Massachusetts Educational Financing Authority                         | MASSACHUSETTS ST EDUCTNL FING AUTH                                               | CUSIP: 57563RTX7<br>LEI: 5493007K5OP7V6CL0Y88 | Long             | DBT              | MUN               | US        |   1355000 | PA      | $1417474.92   | 0.19%             | 2049-07-01      | Fixed         | 6.35%                 | No            |                  2 | On Loan: No      |
| WELLS FARGO SECURITIES LLC                                            | RRP FNMA 30YR F                                                                  | CUSIP: 000000000<br>LEI: VYVVCKR63DVZZN70PB21 | Short            | RA               | CORP              | US        |  -1626835 | PA      | $-1626834.98  | -0.22%            |  |  |  | No            |                  2 | On Loan: No      |
| SABRE GLBL INC                                                        | Sabre GLBL Inc                                                                   | CUSIP: 78573NAJ1<br>LEI: F2TJC7HPPHLHU1AQMP98 | Long             | DBT              | CORP              | US        |    103000 | PA      | $104474.98    | 0.01%             | 2027-06-01      | Fixed         | 8.63%                 | No            |                  2 | On Loan: No      |
| Regents of the University of California Medical Center Pooled Revenue | UNIV OF CALIFORNIA CA RGTS MED CENTER POOLED REVENUE                             | CUSIP: 913366EP1<br>LEI: RRR42I7GG51DB5HDQR14 | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2694821.75   | 0.37%             | 2048-05-15      | Fixed         | 6.55%                 | No            |                  2 | On Loan: No      |
| UNIQUE PUB FINANCE CO                                                 | Unique Pub Finance Co PLC/The                                                    | CUSIP: 000000000<br>LEI: 213800FOMWLKHQTI5562 | Long             | ABS-O            | CORP              | GB        |     11596 | PA      | $16277.29     | 0.00%             | 2032-03-30      | Fixed         | 6.46%                 | No            |                  2 | On Loan: No      |
| BOFA SECURITIES INC                                                   | RRP HUSKY IMS C                                                                  | CUSIP: 000000000<br>LEI: 549300HN4UKV1E2R3U73 | Short            | RA               | CORP              | US        |   -423559 | PA      | $-423558.75   | -0.06%            |  |  |  | No            |                  2 | On Loan: No      |
| SOFTBANK GROUP CORP                                                   | SoftBank Group Corp                                                              | CUSIP: 000000000<br>LEI: 5493003BZYYYCDIO0R13 | Long             | DBT              | CORP              | JP        |    100000 | PA      | $116876.38    | 0.02%             | 2027-01-06      | Fixed         | 2.88%                 | No            |                  2 | On Loan: No      |
| BOMBARDIER INC                                                        | Bombardier Inc                                                                   | CUSIP: 097751CA7<br>LEI: W7L3VLU8EHQY34Z36697 | Long             | DBT              | CORP              | CA        |    355000 | PA      | $382829.16    | 0.05%             | 2030-11-15      | Fixed         | 8.75%                 | No            |                  2 | On Loan: No      |
| MATCH GROUP HLD II LLC                                                | Match Group Holdings II LLC                                                      | CUSIP: 57667JAC6<br>LEI: 5493003RFFE030RC9167 | Long             | DBT              | CORP              | US        |    205000 | PA      | $206800.93    | 0.03%             | 2033-09-15      | Fixed         | 6.13%                 | No            |                  2 | On Loan: No      |
| CNT PRNT/CDK GLO II/FIN                                               | Central Parent LLC / CDK Global II LLC / CDK Financing Co Inc                    | CUSIP: 154915AA0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    127000 | PA      | $111919.52    | 0.02%             | 2029-06-15      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| RIVERS ENTERPRISE                                                     | Rivers Enterprise Borrower LLC / Rivers Enterprise Finance Corp                  | CUSIP: 76883NAA9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     88000 | PA      | $89173.39     | 0.01%             | 2033-02-01      | Fixed         | 6.63%                 | No            |                  2 | On Loan: No      |
| Apidos CLO Ltd                                                        | Apidos CLO XXIV                                                                  | CUSIP: 03759CAS9<br>LEI: 549300PPHIOJQEKPJH29 | Long             | ABS-CBDO         | CORP              | KY        |    217622 | PA      | $217958.85    | 0.03%             | 2030-10-20      | Floating      | 5.54%                 | No            |                  2 | On Loan: No      |
| CHOBANI LLC/FINANCE CORP                                              | Chobani LLC / Chobani Finance Corp Inc                                           | CUSIP: 17027NAB8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    345000 | PA      | $341146.94    | 0.05%             | 2028-11-15      | Fixed         | 4.63%                 | No            |                  2 | On Loan: No      |
| Quorum Health Corporation                                             | Quorum Health Corporation 2020 Term Loan                                         | CUSIP: 74909HAE9<br>LEI: 549300PO3E4YREFT1I57 | Long             | LON              | CORP              | US        |    129025 | PA      | $92252.69     | 0.01%             | 2028-01-28      | Floating      | 10.60%                | No            |                  2 | On Loan: No      |
| RYAN SPECIALTY                                                        | Ryan Specialty LLC                                                               | CUSIP: 78351GAA3<br>LEI: 549300K52N7QBO3PYY45 | Long             | DBT              | CORP              | US        |    113000 | PA      | $114264.02    | 0.02%             | 2032-08-01      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| Bulgaria Government International Bonds                               | Bulgaria Government International Bonds                                          | CUSIP: 000000000<br>LEI: 529900PG0XCL4LICL838 | Long             | DBT              | NUSS              | BG        |     92000 | PA      | $92092.00     | 0.01%             | 2037-03-05      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| KEURIG DR PEPPER INC                                                  | Keurig Dr Pepper Inc                                                             | CUSIP: 49271VAN0<br>LEI: DYTQ8KRTKO7Y2BVU5K74 | Long             | DBT              | CORP              | US        |    400000 | PA      | $352707.00    | 0.05%             | 2031-03-15      | Fixed         | 2.25%                 | No            |                  2 | On Loan: No      |
| THERMO FISHER SCIENTIFIC                                              | Thermo Fisher Scientific Inc                                                     | CUSIP: 883556CX8<br>LEI: HCHV7422L5HDJZCRFL38 | Long             | DBT              | CORP              | US        |    495000 | PA      | $512885.28    | 0.07%             | 2033-08-10      | Fixed         | 5.09%                 | No            |                  2 | On Loan: No      |
| UBS GROUP AG                                                          | UBS Group AG                                                                     | CUSIP: 902613BF4<br>LEI: 549300SZJ9VS8SGXAN81 | Long             | DBT              | CORP              | CH        |    400000 | PA      | $440605.60    | 0.06%             | 2028-11-13      | Fixed         | 9.25%                 | No            |                  2 | On Loan: No      |
| Northrop Grumman Corp                                                 | Northrop Grumman Corp                                                            | CUSIP: 666807BH4<br>LEI: RIMU48P07456QXSO0R61 | Long             | DBT              | CORP              | US        |    850000 | PA      | $786817.84    | 0.11%             | 2043-06-01      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| CATURUS ENERGY LLC                                                    | Caturus Energy LLC                                                               | CUSIP: 49446BAA2<br>LEI: 254900LM244SIFQ1QY31 | Long             | DBT              | CORP              | US        |    383000 | PA      | $398767.55    | 0.05%             | 2030-02-15      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| CHART INDUSTRIES INC                                                  | Chart Industries Inc                                                             | CUSIP: 16115QAF7<br>LEI: EM7QGKC1GYOF3LSZSL80 | Long             | DBT              | CORP              | US        |    139000 | PA      | $144662.17    | 0.02%             | 2030-01-01      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| CLARIOS GLOBAL LP/US FIN                                              | Clarios Global LP / Clarios US Finance Co                                        | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | CORP              | XX        |    205000 | PA      | $245215.39    | 0.03%             | 2031-06-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| FRONTIER COMMUNICATIONS                                               | Frontier Communications Holdings LLC                                             | CUSIP: 35908MAA8<br>LEI: 549300ZCZ76HYCS0H445 | Long             | DBT              | CORP              | US        |     94006 | PA      | $94995.21     | 0.01%             | 2029-11-01      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| CIVITAS RESOURCES INC                                                 | Civitas Resources Inc                                                            | CUSIP: 17888HAB9<br>LEI: IIVIHPH28S64K95M2381 | Long             | DBT              | CORP              | US        |     95000 | PA      | $97328.55     | 0.01%             | 2031-07-01      | Fixed         | 8.75%                 | No            |                  2 | On Loan: No      |
| MAJORDRIVE HOLDINGS IV L                                              | MajorDrive Holdings IV LLC                                                       | CUSIP: 56085RAA8<br>LEI: 25490044R1FR5N8FIT62 | Long             | DBT              | CORP              | US        |    160000 | PA      | $131115.76    | 0.02%             | 2029-06-01      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| STAPLES INC                                                           | Staples Inc                                                                      | CUSIP: 855030AQ5<br>LEI: XQM2JINI1UL7642TU573 | Long             | DBT              | CORP              | US        |    103000 | PA      | $101843.26    | 0.01%             | 2029-09-01      | Fixed         | 10.75%                | No            |                  2 | On Loan: No      |
| ECHOSTAR CORP                                                         | EchoStar Corp                                                                    | CUSIP: 278768AA4<br>LEI: 549300EE20907QZ9GT38 | Long             | DBT              | CORP              | US        |   1278836 | PA      | $1318415.97   | 0.18%             | 2030-11-30      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| LIFEPOINT HEALTH INC                                                  | LifePoint Health Inc 2024 1st Lien Term Loan B                                   | CUSIP: 75915TAK8<br>LEI: 549300G8ZVHRTBBBSZ90 | Long             | LON              | CORP              | US        |    163102 | PA      | $162677.62    | 0.02%             | 2031-05-19      | Floating      | 8.07%                 | No            |                  2 | On Loan: No      |
| SURGERY CENTER HOLDINGS                                               | Surgery Center Holdings Inc                                                      | CUSIP: 86881WAF9<br>LEI: 54930054EVI5HWPPW113 | Long             | DBT              | CORP              | US        |    448000 | PA      | $460206.21    | 0.06%             | 2032-04-15      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| CONCENTRA HEALTH SERVICE                                              | Concentra Health Services Inc                                                    | CUSIP: 20600DAA1<br>LEI: 984500GB84105F75DE32 | Long             | DBT              | CORP              | US        |    274000 | PA      | $284516.67    | 0.04%             | 2032-07-15      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| WR GRACE HOLDING LLC                                                  | WR Grace Holdings LLC                                                            | CUSIP: 92943GAD3<br>LEI: 549300WNOVFRGYOAEB12 | Long             | DBT              | CORP              | US        |     76000 | PA      | $75528.68     | 0.01%             | 2027-06-15      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| TEREX CORP                                                            | Terex Corp                                                                       | CUSIP: 880779BA0<br>LEI: YAWJZJYEQ7M1SYMOS462 | Long             | DBT              | CORP              | US        |     72000 | PA      | $70905.92     | 0.01%             | 2029-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2025-10-29

**Name of Applicant:** BlackRock Core Bond Trust

**Signature:** Chuck Pulsfort

**Name of Signer:** Chuck Pulsfort

**Title:** Assistant Treasurer