# EDGAR Filing Document

**Accession Number:** 0001396092
**File Stem:** 0001396092-26-000171
**Filing Date:** 2026-3
**Character Count:** 171457
**Document Hash:** c9f54ae4082ac392d81d81ed20a36dba
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001396092-26-000171.hdr.sgml**: 20260302

**ACCESSION NUMBER**: 0001396092-26-000171

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20251231

**FILED AS OF DATE**: 20260302

**DATE AS OF CHANGE**: 20260302

**PERIOD START**: 20260930

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** World Funds Trust
- **CENTRAL INDEX KEY:** 0001396092

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 0930

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-22172
- **FILM NUMBER:** 26706477

**BUSINESS ADDRESS:**
- **STREET 1:** 8730 STONY POINT PARKWAY
- **STREET 2:** SUITE 205
- **CITY:** RICHMOND
- **STATE:** VA
- **ZIP:** 23235
- **BUSINESS PHONE:** 804-267-7400

**MAIL ADDRESS:**
- **STREET 1:** 8730 STONY POINT PARKWAY
- **STREET 2:** SUITE 205
- **CITY:** RICHMOND
- **STATE:** VA
- **ZIP:** 23235

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Abacus World Funds Trust
- **DATE OF NAME CHANGE:** 20070410

## Series and Classes Contracts Data

### Curasset Capital Management Limited Term Income Fund (Series ID: S000073807)

| Class ID   | Class Name          | Ticker Symbol   |
|:---|:---|:---|
| C000231000 | Class A             | CMIAX           |
| C000231001 | Founders Class      | CMIFX           |
| C000231002 | Institutional Class | CMIIX           |

## Nport-Ex

curasset-soi711_123125.htm 1 of 12 <br>   <u>02/28/2026 05:32 PM</u>

**CURASSET CAPITAL MANAGEMENT LIMITED TERM INCOME FUND**

**Schedule of Investments**

**December 31, 2025 (unaudited)**

---

| | | | |
|:---|:---|:---|:---|
| **39.53%** | **ASSET BACKED BONDS** | **Principle** | &nbsp;&nbsp;&nbsp;&nbsp;**Value** |
| **39.53%** | **ASSET BACKED BONDS** |  |  |
| **7.18%** | **AUTOMOTIVE** |  |  |
|  | Arivo Acceptance Auto Loan Receivables Trust 01/16/2029 6.900% 144A | $155937 | $157232 |
|  | Arivo Acceptance Auto Loan Receivables Trust 02/15/2029 7.700% 144A | 825000 | 848354 |
|  | Avid Automobile Receivables Trust 12/15/2027 7.350% 144A | 577704 | 579612 |
|  | Avis Budget Rental Car Funding AESOP LLC 08/20/2029 5.870% 144A | 140000 | 142746 |
|  | Avis Budget Rental Car Funding AESOP LLC 08/20/2031 6.240% 144A | 100000 | 103612 |
|  | Bridgecrest Lending Auto Securitization Trust 10/16/2028 5.370% | 1650000 | 1658176 |
|  | Carvana Auto Receivables Trust 03/10/2028 2.900% 144A | 33222 | 32594 |
|  | Carvana Auto Receivables Trust 03/10/2028 1.070% | 90865 | 88915 |
|  | Carvana Auto Receivables Trust 03/10/2028 0.970% | 87725 | 86707 |
|  | Carvana Auto Receivables Trust 09/11/2028 1.240% | 109209 | 106352 |
|  | Carvana Auto Receivables Trust 11/10/2028 5.540% | 175000 | 178056 |
|  | Carvana Auto Receivables Trust 12/11/2028 4.130% 144A | 393471 | 390438 |
|  | Carvana Auto Receivables Trust 01/10/2031 4.740% | 550000 | 547415 |
|  | Chesapeake Funding II LLC 10/15/2035 6.160% | 54330 | 54905 |
|  | CPS Auto Trust 08/15/2028 5.190% 144A | 1626100 | 1627591 |
|  | CPS Auto Trust 10/15/2029 7.140% 144A | 1100000 | 1111794 |
|  | CPS Auto Trust 11/15/2030 10.720% 144A | 450000 | 495802 |
|  | DT Auto Owner Trust 05/17/2027 1.310% 144A | 371292 | 369920 |
|  | DT Auto Owner Trust 12/15/2027 3.400% 144A | 243312 | 242742 |
|  | DT Auto Owner Trust 09/15/2028 2.650% 144A | 550000 | 548505 |
|  | DT Auto Owner Trust 03/15/2029 5.530% 144A | 1000000 | 999285 |
|  | Exeter Automobile Receivables Trust 04/15/2027 1.400% | 431887 | 429691 |
|  | Exeter Automobile Receivables Trust 06/15/2027 1.550% | 466649 | 463283 |
|  | Exeter Automobile Receivables Trust 06/15/2028 3.020% | 736433 | 733040 |
|  | Exeter Automobile Receivables Trust 07/17/2028 4.560% | 1390968 | 1392046 |
|  | Exeter Automobile Receivables Trust 10/15/2029 6.340% 144A | 962500 | 933408 |
|  | First Investors Auto Owner Trust 06/15/2029 5.410% 144A | 500000 | 496742 |
|  | Flagship Credit Auto Trust 09/15/2027 1.460% 144A | 75512 | 75309 |
|  | Flagship Credit Auto Trust 09/15/2028 3.160% 144A | 1150000 | 1114897 |
|  | Flagship Credit Auto Trust 07/16/2029 5.640% 144A | 1650000 | 1654599 |
|  | GLS Auto Receivables Issuer Trust 07/15/2027 1.480% 144A | 238031 | 236931 |
|  | GLS Auto Receivables Issuer Trust 10/15/2027 3.510% 144A | 152238 | 151951 |
|  | GLS Auto Receivables Issuer Trust 10/15/2027 2.480% 144A | 316460 | 314603 |
|  | GLS Auto Receivables Trust 07/15/2027 4.310% 144A | 126816 | 126819 |
|  | GLS Auto Receivables Trust 04/17/2028 6.150% 144A | 1197381 | 1207025 |
|  | Lad Auto Receivables Trust 04/15/2030 6.850% 144A | 726000 | 734086 |
|  | Lendbuzz Securitization Trust 12/15/2028 7.500% 144A | 220073 | 224029 |

---

curasset-soi711_123125.htm02/28/2026 05:32 PM2 of 12

**CURASSET CAPITAL MANAGEMENT LIMITED TERM INCOME FUND**

**Schedule of Investments**

**December 31, 2025 (unaudited)**

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**AUTOMOTIVE Continued** | **Principle** | &nbsp;&nbsp;&nbsp;&nbsp;**Value** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Lendbuzz Securitization Trust 05/15/2029 5.990% 144A | $248561 | $250204 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Lendbuzz Securitization Trust 05/15/2030 5.180% 144A | 1078106 | 1083159 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Oscar US Funding Trust 04/10/2028 1.000% 144A | 48017 | 47872 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Research-Driven Pagaya 03/25/2032 7.540% 144A | 102235 | 102427 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Switch ABS Issuer LLC 06/25/2054 6.200% 144A | 550000 | 554123 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Tricolor Auto Securitization Trust 02/15/2028 6.570% 144A | 720000 | 504000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Tricolor Auto Securitization Trust 01/16/2029 5.120% 144A | 1001992 | 671335 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Tricolor Auto Securitization Trust 06/15/2028 13.450% 144A | 600000 | 252000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;United Auto Credit Securitization Trust 11/10/2028 5.000% 144A | 368447 | 367458 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;United Auto Credit Securitization Trust 04/10/2029 10.000% 144A | 600000 | 253857 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Veros Auto Receivables Trust 11/15/2028 8.320% 144A | 1001000 | 1020404 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Westlake Automobile Receivable 03/15/2027 3.490% 144A | 169097 | 168992 |
|  |  | 25935043 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5.62% MISCELLANEOUS** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Aqua Finance Trust 07/17/2046 1.900% 144A | 168322 | 159686 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Atlas Senior Loan Fund 04/22/2031 5.719% 144A | 559000 | 560230 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Ballyrock CLO 14 Ltd. 07/20/2037 4.884%^ 144A | 500000 | 499300 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(CME Term SOFR 3 Month + 1.000%) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Benefit Street Partners CLO Ltd. 07/15/2037 5.085%^ 144A | 795000 | 793808 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(CME Term SOFR 3 Month + 1.180%) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Bluemountain CLO 10/20/2030 5.746% 144A | 520000 | 522600 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;CoreVest American Finance Trust 10/15/2054 2.911% 144A | 1040000 | 989665 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Crossroads Asset Trust 08/20/2032 8.320% 144A | 275000 | 278826 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Crossroads Asset Trusts 08/20/2030 5.900% 144A | 136984 | 138429 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Crown City CLO 07/15/2037 4.955%^ 144A | 642856 | 642085 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(CME Term SOFR 3 Month + 1.050%) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Generate CLO 4 07/20/2037 4.884%^ 144A | 656250 | 655528 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(CME Term SOFR 3 Month + 1.000%) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Generate CLO 5 Ltd. 07/22/2037 4.907%^ 144A | 1600000 | 1597440 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(CME Term SOFR 3 Month + 1.050%) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Goldentree Loan Management LP 07/20/2037 4.784%^ 144A | 625000 | 624187 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(CME Term SOFR 3 Month + 0.900%) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Golub Capital Partners Static Ltd. 04/25/2034 5.758%^ 144A | 1100000 | 1102420 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(CME Term SOFR 3 Month + 1.900%) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Harvest SBA Loan Trust 06/25/2047 6.050% 144A | 266126 | 266126 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;M&T Equipment LLC 07/15/2030 5.740% 144A | 235769 | 237160 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;NGC Ltd. 04/20/2038 5.084%^ 144A | 1120000 | 1120112 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(CME Term SOFR 3 Month + 1.200%) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;OZLM XVIII Ltd. 04/15/2031 5.186% 144A | 242079 | 241885 |

---

curasset-soi711_123125.htm02/28/2026 05:32 PM3 of 12

**CURASSET CAPITAL MANAGEMENT LIMITED TERM INCOME FUND**

**Schedule of Investments**

**December 31, 2025 (unaudited)**

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**MISCELLANEOUS Continued** | **Principle** | &nbsp;&nbsp;&nbsp;&nbsp;**Value** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pagaya AI Debt Selection Trust 07/15/2031 8.798% 144A | $103927 | $104197 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;PEAC Solutions Receivables LLC 10/20/2031 4.650% 144A | 550000 | 553234 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Polus Capital Management 10/20/2037 5.134%^ 144A | 926316 | 926871 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(CME Term SOFR 3 Month + 1.250%) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Saratoga Investment Corp. 04/20/2033 5.946% 144A | 550000 | 557425 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Shackleton 2017-XI CLO Ltd. 08/15/2030 6.263% 144A | 1002000 | 1010818 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;SMB Private Education Loan Trust 09/15/2037 2.230% 144A | 542152 | 526815 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;SoFi Consumer Loan Program Trust 06/25/2034 4.820% 144A | 333832 | 335757 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Sotheby's Artfi Master Trust 12/22/2031 5.195%^ 144A | 520000 | 520112 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(CME Term SOFR 3 Month + 1.500%) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Sound Point CLO V-R Ltd. 07/18/2031 5.896% 144A | 530000 | 534823 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Trinity Rail Leasing LP 10/18/2049 2.390% 144A | 72133 | 71739 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Upstart Securitization Trust 06/20/2033 7.920% 144A | 212667 | 213878 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Venture CDO Ltd. 07/15/2032 6.036% 144A | 1100000 | 1112650 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Venture CDO Ltd. 10/20/2034 5.334%^ 144A | 560000 | 557480 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(CME Term SOFR 3 Month + 1.450%) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Voya CLO Ltd. 10/18/2031 5.846% 144A | 901310 | 907890 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Voya CLO Ltd. 10/15/2037 5.105%^ 144A | 1375000 | 1375137 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(CME Term SOFR 3 Month + 1.200%) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Zais CLO 11 Ltd. 01/20/2032 5.674%^ 144A | 530000 | 533551 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(CME Term SOFR 3 Month + 1.790%) |  |  |
|  |  | 20271864 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**26.73% MORTGAGE** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Angel Oak Mortgage Trust 01/25/2066 0.909% 144A | 48934 | 43031 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Brean Asset Backed Securities Trust 01/25/2065 5.000% 144A | 412500 | 404436 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Brean Asset Backed Securities Trust 05/25/2065 4.750% 144A | 344195 | 268126 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Brean Asset Backed Securities Trust 07/25/2065 4.500% 144A | 588552 | 512760 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Citigroup Mortgage Loan Trust 08/25/2050 2.500% 144A | 56564 | 50029 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;COMM Mortgage Trust 09/15/2033 6.223% 144A | 65000 | 19708 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Connecticut Avenue Securities Trust 10/25/2041 6.974%^ 144A | 2100000 | 2133774 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(United States 30 Day Average SOFR + 3.100%) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Connecticut Avenue Securities Trust 03/25/2042 5.874%^ 144A | 128979 | 129981 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(United States 30 Day Average SOFR + 2.000%) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Connecticut Avenue Securities Trust 03/25/2042 7.374%^ 144A | 4920000 | 5052692 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(United States 30 Day Average SOFR + 3.500%) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Connecticut Avenue Securities Trust 07/25/2043 6.574%^ 144A | 1000000 | 1027699 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(United States 30 Day Average SOFR + 2.700%) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Connecticut Avenue Securities Trust 02/25/2044 5.674%^ 144A | 2035000 | 2045788 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(United States 30 Day Average SOFR + 1.800%) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Connecticut Avenue Securities Trust 05/25/2044 5.524%^ 144A | 1100000 | 1103443 |

---

curasset-soi711_123125.htm02/28/2026 05:32 PM4 of 12

**CURASSET CAPITAL MANAGEMENT LIMITED TERM INCOME FUND**

**Schedule of Investments**

**December 31, 2025 (unaudited)**

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**MORTGAGE Continued** | **Principle** | &nbsp;&nbsp;&nbsp;&nbsp;**Value** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(United States 30 Day Average SOFR + 1.650%) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Connecticut Avenue Securities Trust 07/25/2044 5.574%^ 144A | $1100000 | $1103784 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(United States 30 Day Average SOFR + 1.700%) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Credit Suisse Mortgage Trust 04/25/2044 3.821% 144A | 540881 | 450863 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Credit Suisse Mortgage Trust 04/25/2044 3.821% 144A | 424170 | 414678 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Federal Home Loan Mortgage Corp. 05/15/2027 3.000% | 328502 | 4401 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Federal Home Loan Mortgage Corp. 01/25/2034 5.524%^ 144A | 31647 | 31736 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(United States 30 Day Average SOFR + 1.650%) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Federal Home Loan Mortgage Corp. 10/25/2041 5.374%^ 144A | 927983 | 930625 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(United States 30 Day Average SOFR + 1.500%) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Federal Home Loan Mortgage Corp. 11/25/2041 5.674%^ 144A | 1221685 | 1230788 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(United States 30 Day Average SOFR + 1.800%) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Federal Home Loan Mortgage Corp. 12/25/2041 10.874%^ 144A | 1600000 | 1676371 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(United States 30 Day Average SOFR + 7.000%) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Federal Home Loan Mortgage Corp. 01/25/2042 6.374%^ 144A | 1350000 | 1369320 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(United States 30 Day Average SOFR + 2.500%) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Federal Home Loan Mortgage Corp. 01/25/2042 4.874%^ 144A | 91211 | 91211 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(United States 30 Day Average SOFR + 1.000%) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Federal Home Loan Mortgage Corp. 02/25/2042 5.174%^ 144A | 88591 | 88624 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(United States 30 Day Average SOFR + 1.300%) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Federal Home Loan Mortgage Corp. 02/25/2042 6.274%^ 144A | 2600000 | 2637388 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(United States 30 Day Average SOFR + 2.400%) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Federal Home Loan Mortgage Corp. 03/25/2042 9.124%^ 144A | 250000 | 262235 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(United States 30 Day Average SOFR + 5.250%) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Federal Home Loan Mortgage Corp. 03/25/2042 5.974%^ 144A | 587138 | 588424 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(United States 30 Day Average SOFR + 2.100%) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Federal Home Loan Mortgage Corp. 05/25/2042 6.074%^ 144A | 969021 | 976552 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(United States 30 Day Average SOFR + 2.200%) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Federal Home Loan Mortgage Corp. 05/25/2042 7.224%^ 144A | 2870000 | 2961496 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(United States 30 Day Average SOFR + 3.350%) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Federal Home Loan Mortgage Corp. 05/25/2042 9.124%^ 144A | 478188 | 504892 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(United States 30 Day Average SOFR + 5.250%) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Federal Home Loan Mortgage Corp. 06/25/2042 6.824%^ 144A | 22583 | 23008 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(United States 30 Day Average SOFR + 2.950%) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Federal Home Loan Mortgage Corp. 09/25/2042 6.024%^ 144A | 188082 | 189056 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(United States 30 Day Average SOFR + 2.150%) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Federal Home Loan Mortgage Corp. 09/25/2042 7.574%^ 144A | 2671000 | 2786200 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(United States 30 Day Average SOFR + 3.700%) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Federal Home Loan Mortgage Corp. 03/25/2043 5.965%^ 144A | 578840 | 585982 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(United States 30 Day Average SOFR + 2.100%) |  |  |

---

curasset-soi711_123125.htm02/28/2026 05:32 PM5 of 12

**CURASSET CAPITAL MANAGEMENT LIMITED TERM INCOME FUND**

**Schedule of Investments**

**December 31, 2025 (unaudited)**

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**MORTGAGE Continued** | **Principle** | &nbsp;&nbsp;&nbsp;&nbsp;**Value** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Federal Home Loan Mortgage Corp. 04/25/2043 5.965%^ 144A | $924717 | $937516 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(United States 30 Day Average SOFR + 2.100%) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Federal Home Loan Mortgage Corp. 04/25/2043 7.115%^ 144A | 1545000 | 1607406 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(United States 30 Day Average SOFR + 3.250%) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Federal Home Loan Mortgage Corp. 05/25/2043 5.874%^ 144A | 884583 | 891593 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(United States 30 Day Average SOFR + 2.000%) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Federal Home Loan Mortgage Corp. 05/25/2043 7.374%^ 144A | 1100000 | 1152150 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(United States 30 Day Average SOFR + 3.500%) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Federal Home Loan Mortgage Corp. 06/25/2043 5.874%^ 144A | 496680 | 497455 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(United States 30 Day Average SOFR + 2.000%) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Federal Home Loan Mortgage Corp. 06/25/2043 7.224%^ 144A | 2750000 | 2834802 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(United States 30 Day Average SOFR + 3.350%) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Federal Home Loan Mortgage Corp. 11/25/2043 5.724%^ 144A | 446520 | 449011 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(United States 30 Day Average SOFR + 1.850%) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Federal Home Loan Mortgage Corp. 11/25/2043 5.724%^ 144A | 3087549 | 3115522 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(United States 30 Day Average SOFR + 1.850%) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Federal Home Loan Mortgage Corp. 11/25/2043 7.224%^ 144A | 2200000 | 2301710 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(United States 30 Day Average SOFR + 3.350%) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Federal Home Loan Mortgage Corp. 03/25/2044 5.124%^ 144A | 140680 | 140636 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(United States 30 Day Average SOFR + 1.250%) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Federal Home Loan Mortgage Corp. 05/25/2044 5.074%^ 144A | 510603 | 511240 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(United States 30 Day Average SOFR + 1.200%) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Federal Home Loan Mortgage Corp. 05/25/2044 5.574%^ 144A | 1100000 | 1105159 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(United States 30 Day Average SOFR + 1.700%) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Federal Home Loan Mortgage Corp. 05/25/2044 5.124%^ 144A | 1167634 | 1171712 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(United States 30 Day Average SOFR + 1.250%) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Federal Home Loan Mortgage Corp. 08/25/2044 5.674%^ 144A | 2620000 | 2634751 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(United States 30 Day Average SOFR + 1.800%) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Federal Home Loan Mortgage Corp. 08/25/2044 5.124%^ 144A | 1375000 | 1382331 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(United States 30 Day Average SOFR + 1.250%) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Federal Home Loan Mortgage Corp. 10/25/2044 5.324%^ 144A | 1100000 | 1099318 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(United States 30 Day Average SOFR + 1.450%) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Federal Home Loan Mortgage Corp. 02/25/2045 5.024%^ 144A | 726798 | 727461 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(United States 30 Day Average SOFR + 1.150%) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Federal Home Loan Mortgage Corp. 05/25/2045 5.074%^ 144A | 707136 | 706901 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(United States 30 Day Average SOFR + 1.200%) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Federal Home Loan Mortgage Corp. 02/25/2048 3.784% 144A | 152739 | 148947 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Federal Home Loan Mortgage Corp. 05/25/2048 3.850% 144A | 420903 | 409486 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Federal Home Loan Mortgage Corp. 05/25/2048 3.850% 144A | 226798 | 220645 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Federal Home Loan Mortgage Corp. 10/25/2050 6.674%^ 144A | 2538 | 2542 |

---

curasset-soi711_123125.htm02/28/2026 05:32 PM6 of 12

**CURASSET CAPITAL MANAGEMENT LIMITED TERM INCOME FUND**

**Schedule of Investments**

**December 31, 2025 (unaudited)**

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**MORTGAGE Continued** | **Principle** | &nbsp;&nbsp;&nbsp;&nbsp;**Value** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(United States 30 Day Average SOFR + 2.800%) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Federal Home Loan Mortgage Corp. 12/25/2050 5.874%^ 144A | $371224 | $374971 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(United States 30 Day Average SOFR + 2.000%) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Federal Home Loan Mortgage Corp. 01/25/2051 5.674%^ 144A | 701062 | 704768 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(United States 30 Day Average SOFR + 1.800%) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Federal Home Loan Mortgage Corp. 03/25/2052 8.874%^ 144A | 1165415 | 1241528 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(United States 30 Day Average SOFR + 5.000%) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Federal Home Loan Mortgage Corporation 04/25/2029 7.889% | 156403 | 159475 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Federal Home Loan Mortgage Corporation 01/25/2042 5.724%^ 144A | 720000 | 724545 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(United States 30 Day Average SOFR + 1.850%) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Federal National Mortgage Assoc. 08/25/2028 10.939% | 165401 | 166957 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Federal National Mortgage Assoc. 08/25/2028 10.739% | 26962 | 27206 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Federal National Mortgage Assoc. 02/25/2030 6.789% | 213042 | 216224 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Federal National Mortgage Assoc. 01/25/2031 8.239% | 1000000 | 1082243 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Federal National Mortgage Assoc. 12/25/2032 2.000% | 82416 | 78014 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Federal National Mortgage Assoc. 10/25/2041 5.424%^ 144A | 186021 | 186774 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(United States 30 Day Average SOFR + 1.550%) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Federal National Mortgage Assoc. 12/25/2041 5.774%^ 144A | 684241 | 687605 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(United States 30 Day Average SOFR + 1.900%) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Federal National Mortgage Assoc. 12/25/2041 5.524%^ 144A | 2210000 | 2222111 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(United States 30 Day Average SOFR + 1.650%) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Federal National Mortgage Assoc. 03/25/2042 5.974%^ 144A | 417791 | 421931 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(United States 30 Day Average SOFR + 2.100%) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Federal National Mortgage Assoc. 04/25/2042 5.774%^ 144A | 234967 | 235261 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(United States 30 Day Average SOFR + 1.900%) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Federal National Mortgage Assoc. 05/25/2042 6.624%^ 144A | 642249 | 653426 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(United States 30 Day Average SOFR + 2.750%) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Federal National Mortgage Assoc. 06/25/2042 6.824%^ 144A | 437279 | 447671 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(United States 30 Day Average SOFR + 2.950%) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Federal National Mortgage Assoc. 07/25/2042 7.474%^ 144A | 2980000 | 3080408 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(United States 30 Day Average SOFR + 3.600%) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Federal National Mortgage Assoc. 07/25/2042 6.424%^ 144A | 963672 | 980874 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(United States 30 Day Average SOFR + 2.550%) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Federal National Mortgage Assoc. 08/25/2042 3.500% | 448956 | 64389 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Federal National Mortgage Assoc. 09/25/2042 6.374%^ 144A | 238562 | 241806 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(United States 30 Day Average SOFR + 2.500%) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Federal National Mortgage Assoc. 12/25/2042 6.274%^ 144A | 1303506 | 1329409 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(United States 30 Day Average SOFR + 2.400%) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Federal National Mortgage Assoc. 01/25/2043 6.174%^ 144A | 621241 | 633393 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(United States 30 Day Average SOFR + 2.300%) |  |  |

---

curasset-soi711_123125.htm02/28/2026 05:32 PM7 of 12

**CURASSET CAPITAL MANAGEMENT LIMITED TERM INCOME FUND**

**Schedule of Investments**

**December 31, 2025 (unaudited)**

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**MORTGAGE Continued** | **Principle** | &nbsp;&nbsp;&nbsp;&nbsp;**Value** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Federal National Mortgage Assoc. 04/25/2043 6.374%^ 144A | $921968 | $930807 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(United States 30 Day Average SOFR + 2.500%) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Federal National Mortgage Assoc. 06/25/2043 5.774%^ 144A | 311247 | 313690 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(United States 30 Day Average SOFR + 1.900%) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Federal National Mortgage Assoc. 07/25/2043 5.574%^ 144A | 662886 | 665487 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(United States 30 Day Average SOFR + 1.700%) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Federal National Mortgage Assoc. 10/25/2043 5.374%^ 144A | 700317 | 701497 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(United States 30 Day Average SOFR + 1.500%) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Federal National Mortgage Assoc. 02/25/2046 0.164% | 16276557 | 50132 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Federal National Mortgage Assoc. 11/25/2046 0.114% | 28111240 | 51219 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Federal National Mortgage Assoc. 02/25/2047 0.114% | 19693705 | 47245 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Federal National Mortgage Association 02/25/2037 1.500% | 8968477 | 483742 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Federal National Mortgage Association 12/25/2041 7.024%^ 144A | 1900000 | 1935737 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(United States 30 Day Average SOFR + 3.150%) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Federal National Mortgage Association 12/25/2041 9.874%^ 144A | 1100000 | 1139875 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(United States 30 Day Average SOFR + 6.000%) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Federal National Mortgage Association 12/25/2041 4.724%^ 144A | 10347 | 10341 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(United States 30 Day Average SOFR + 0.850%) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Federal National Mortgage Association 03/25/2042 6.974%^ 144A | 1000000 | 1024220 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(United States 30 Day Average SOFR + 3.100%) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Federal National Mortgage Association 06/25/2042 8.524%^ 144A | 950000 | 998255 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(United States 30 Day Average SOFR + 4.650%) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Federal National Mortgage Association 12/25/2042 7.624%^ 144A | 1230000 | 1284683 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(United States 30 Day Average SOFR + 3.750%) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Federal National Mortgage Association 04/25/2043 7.774%^ 144A | 2355000 | 2476294 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(United States 30 Day Average SOFR + 3.900%) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Federal National Mortgage Association 01/25/2044 5.674%^ 144A | 1100000 | 1106338 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(United States 30 Day Average SOFR + 1.800%) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Federal National Mortgage Association 03/25/2045 6.124%^ 144A | 1100000 | 1116079 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(United States 30 Day Average SOFR + 2.250%) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Federal National Mortgage Association 07/25/2045 5.474%^ 144A | 1550000 | 1555332 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(United States 30 Day Average SOFR + 1.600%) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;GCAT Trust 08/25/2066 1.915% 144A | 104937 | 98073 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;GLS Auto Receivables Trust 05/15/2029 5.640% 144A | 500000 | 502357 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Government National Mortgage Assoc. 11/20/2051 3.000% | 8842263 | 1635297 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Greensky Home Improvement Issuer Trust 06/25/2060 4.930% 144A | 206487 | 207250 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;GS Mortgage-Backed Securities Trust 10/25/2055 5.424%^ 144A | 244064 | 244642 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(United States 30 Day Average SOFR + 1.550%) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;ICG US CLO Ltd. 01/15/2031 5.966% | 530000 | 532014 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;JP Morgan Mortgage Trust 10/25/2029 2.565% 144A | 23561 | 23259 |

---

curasset-soi711_123125.htm02/28/2026 05:32 PM8 of 12

**CURASSET CAPITAL MANAGEMENT LIMITED TERM INCOME FUND**

**Schedule of Investments**

**December 31, 2025 (unaudited)**

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**MORTGAGE Continued** | **Principle** | &nbsp;&nbsp;&nbsp;&nbsp;**Value** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;JP Morgan Mortgage Trust 05/25/2050 3.500% 144A | $35107 | $31796 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Mill City Mortgage Trust 04/25/2066 3.500% 144A | 399013 | 393275 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;MOO Securitization Trust 12/25/2065 4.500% 144A | 99000 | 92377 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Multifamily Structured Credit Risk 11/25/2045 5.624%^ 144A | 600000 | 600031 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(United States 30 Day Average SOFR + 1.750%) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Ocwen Loan Invest Trust 02/25/2037 3.000% 144A | 132808 | 130827 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Ocwen Loan Investment Trust 02/25/2037 3.000% 144A | 500000 | 468104 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Provident Funding Mortgage Trust 04/25/2051 2.500% 144A | 730813 | 610743 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Saluda Grace Alternative Mortgage 02/25/2030 7.500% 144A | 550000 | 550767 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Saluda Grace Alternative Mortgage 04/25/2030 7.762% 144A | 260000 | 261861 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Saluda Grade Alternative Mortgage Trust 06/01/2053 7.162% 144A | 395256 | 402279 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Sequoia Mortgage Trust 04/25/2050 3.000% 144A | 64761 | 63994 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Space Coast Credit Union 11/15/2028 4.670% 144A | 533681 | 535115 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Velocity Commercial Capital 11/25/2053 7.670% 144A | 157199 | 159921 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Winston Salem, NC Limited Obligation 01/20/2046 3.781% 144A | 129144 | 124605 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;X-Caliber Funding LLC 11/01/2024 7.130%^ 144A | 688525 | 686677 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(CME Term SOFR 1 Month + 3.250%) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;X-Caliber Funding LLC 09/15/2028 12.000% 144A | 550000 | 554102 |
|  |  | 96508723 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**39.53% TOTAL ASSET BACKED BONDS** |  | 142715630 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Cost: $144,613,464) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**8.27% CORPORATE BONDS** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**0.07% COMMUNICATION SERVICES** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;CCO Holdings Capital Corp. 06/01/2029 5.375% 144A | 275000 | 271898 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1.23% CONSUMER DISCRETIONARY** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;BorgWarner, Inc. 02/15/2029 7.125% | 600000 | 647239 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Ford Holdings LLC 03/01/2030 9.300% | 990000 | 1122048 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;General Motors Financial Co. Perpetual 5.750% | 500000 | 493776 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Hasbro, Inc. 07/15/2028 6.600% | 798000 | 841805 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Nissan Motor Acceptance Company LLC 03/09/2028 2.750% 144A | 350000 | 332557 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Toll Bros Finance Corp. 03/15/2027 4.875% | 1000000 | 1007753 |
|  |  | 4445178 |

---

curasset-soi711_123125.htm02/28/2026 05:32 PM9 of 12

**CURASSET CAPITAL MANAGEMENT LIMITED TERM INCOME FUND**

**Schedule of Investments**

**December 31, 2025 (unaudited)**

---

| | | |
|:---|:---|:---|
|  | **Principle** | &nbsp;&nbsp;&nbsp;&nbsp;**Value** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**0.06% CONSUMER STAPLES** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;PRA Health Sciences, Inc. 07/15/2026 2.875% 144A | $110000 | $109106 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Teva Pharmaceutical Industries Ltd. 05/09/2027 4.750% | 100000 | 100256 |
|  |  | 209362 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2.41% ENERGY** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Alliance Resource Operating Partnership 06/15/2029 8.625% 144A | 550000 | 579796 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Cheniere Energy, Inc. 10/15/2028 4.625% | 500000 | 499152 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Energen Corp. 02/15/2028 7.125% | 525000 | 549004 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Energy Transfer LP Perpetual 6.625% | 600000 | 596958 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;EQT Corporation 04/01/2029 6.375% | 1120000 | 1158955 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Helmerich & Payne, Inc. 12/01/2029 4.850% | 1100000 | 1107173 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;MPLX LP 02/15/2031 4.800% | 550000 | 555776 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Oceaneering International, Inc. 02/01/2028 6.000% | 350000 | 353929 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Phillips 66 Partners LP 03/01/2028 3.750% | 540000 | 527744 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Tallgrass Energy Partners LP 01/15/2028 5.500% 144A | 500000 | 500270 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Targa Resources Partners LP 03/01/2030 5.500% | 500000 | 507702 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;TransCanada Pipelines Ltd. 06/15/2029 7.700% | 1150000 | 1254637 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Venture Global, Inc. 06/01/2028 8.125% 144A | 500000 | 506452 |
|  |  | 8697548 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2.79% FINANCIALS** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Ally Financial, Inc. Perpetual 4.700% | 275000 | 272205 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Bank of America Corp. Perpetual 4.375% | 125000 | 123646 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Banque Federative du Credit Mutuel 10/04/2026 1.604% 144A | 2000000 | 1964868 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;BGC Group, Inc. 04/02/2030 6.150% | 1100000 | 1138989 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Credit Agricole SA 01/26/2027 1.247% 144A | 2000000 | 1995802 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;EPR Properties 04/15/2028 4.950% | 220000 | 221601 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;First Citizens Bancshare Perpetual 7.957% | 1000000 | 1012607 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;ING Groep NV 03/29/2027 3.950% | 2000000 | 1998894 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Goldman Sachs Group, Inc. Perpetual 3.650% | 500000 | 492816 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Transamerica Capital II 12/01/2026 7.650% 144A | 825000 | 835232 |
|  |  | 10056660 |

---

curasset-soi711_123125.htm02/28/2026 05:32 PM10 of 12

**CURASSET CAPITAL MANAGEMENT LIMITED TERM INCOME FUND**

**Schedule of Investments**

**December 31, 2025 (unaudited)**

---

| | | | |
|:---|:---|:---|:---|
|  |  | **Principle** | &nbsp;&nbsp;&nbsp;&nbsp;**Value** |
| **0.73%** | **INDUSTRIALS** |  |  |
|  | Hubbell, Inc. 08/15/2027 3.150% | $1079000 | $1065361 |
|  | MasTec, Inc. 08/15/2029 6.625% 144A | 550000 | 553575 |
|  | Timken Co. 05/08/2028 6.875% | 480000 | 504216 |
|  | Timken Co. 12/15/2028 4.500% | 500000 | 503789 |
|  |  |  | 2626941 |
| **0.31%** | **INFORMATION TECHNOLOGY** |  |  |
|  | Qorvo, Inc. 04/01/2031 3.375% 144A | 1213000 | 1122200 |
| **0.39%** | **MATERIALS** |  |  |
|  | Celanese US Holdings LLC 07/15/2032 6.879% | 275000 | 286172 |
|  | Constellium SE 06/15/2028 5.625% 144A | 350000 | 349950 |
|  | Domtar Corp. 10/01/2028 6.750% 144A | 100000 | 84081 |
|  | Hecla Mining Company 02/15/2028 7.250% | 194000 | 195222 |
|  | NOVA Chemicals Corporation 06/01/2027 5.250% 144A | 500000 | 503057 |
|  |  |  | 1418482 |
| **0.28%** | **UTILITIES** |  |  |
|  | Washington Gas Light Co. 10/09/2026 6.820% | 1000000 | 1017837 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**8.27% TOTAL CORPORATE BONDS** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**8.27% TOTAL CORPORATE BONDS** |  | 29866106 |
|  | (Cost: $29,399,186) |  |  |
| **40.98%** | **TREASURY NOTES** |  |  |
|  | US Treasury 01/15/2026 2.000% | 1640250 | 1637232 |
|  | US Treasury 01/31/2026 4.250% | 525000 | 525210 |
|  | US Treasury 05/31/2026 4.875% | 10000000 | 10051860 |
|  | US Treasury 06/30/2026 4.625% | 4000000 | 4020756 |
|  | US Treasury 08/31/2026 3.750% | 62000000 | 62066712 |
|  | US Treasury 11/30/2026 4.250% | 714700 | 719078 |
|  | US Treasury 12/15/2026 4.375% | 5000000 | 5039220 |
|  | US Treasury 12/31/2026 4.250% | 5312000 | 5349057 |
|  | US Treasury 01/15/2027 4.000% | 21000000 | 21100695 |
|  | US Treasury 01/31/2027 1.500% | 1107000 | 1083347 |
|  | US Treasury 02/15/2027 4.125% | 4000000 | 4026252 |
|  | US Treasury 02/28/2027 4.125% | 5600000 | 5637626 |
|  | US Treasury 04/30/2027 3.750% | 3900000 | 3912188 |

---

curasset-soi711_123125.htm02/28/2026 05:32 PM11 of 12

**CURASSET CAPITAL MANAGEMENT LIMITED TERM INCOME FUND**

**Schedule of Investments**

**December 31, 2025 (unaudited)**

---

| | | | |
|:---|:---|:---|:---|
| | **TREASURIES Continued** | **Principle** | &nbsp;&nbsp;&nbsp;&nbsp;**Value** |
|  | US Treasury 07/15/2027 4.375% | $1800000 | $1823906 |
|  | US Treasury 07/31/2027 3.875% | 5000000 | 5029100 |
|  | US Treasury 11/15/2027 4.125% | 3305800 | 3343506 |
|  | US Treasury 12/15/2027 4.000% | 1655600 | 1671639 |
|  | US Treasury 10/15/2028 2.375% | 8503040 | 8756039 |
|  | US Treasury 11/30/2028 4.375% | 2101000 | 2148682 |
| **40.98%** | **TOTAL TREASURY NOTES** |  | 147942105 |
|  | (Cost: $147,333,741) |  |  |
| **9.92%** | **MONEY MARKET FUND** | **Shares** | &nbsp;&nbsp;&nbsp;&nbsp;**Value** |
| **9.92%** | **MONEY MARKET FUND** |  |  |
|  | Federated Government Obligations Fund 3.670%<sup>(A)</sup> | 35828033 | 35828033 |
|  | (Cost: $35,828,033) |  |  |
| **98.70%** | **TOTAL INVESTMENTS** |  | 356351874 |
|  | (Cost: $357,174,424) |  |  |
| **1.30%** | Other assets, net of liabilities |  | 4650828 |
| **100.00%** | **NET ASSETS** |  | $**<u>361002702</u>** |

---

^Rate is determined periodically. Rate shown is the rate as of December 31, 2025

<sup>(A)</sup>Effective 7 day yield as of December 31, 2025 SOFR - Secured Overnight Financing Rate

**See Notes to Schedule of Investments.**

A 144A Security is exempt from the registration requirements for resales of restricted securities to qualified institutional buyers. The aggregate amount of these securities is $142,087,333 and is 39.36% of the Fund's net assets.

**Schedule of Futures Contracts**

**December 31, 2025 (unaudited)**

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **FUTURES CONTRACTS** | **FUTURES CONTRACTS** |  |  |  | **Unrealized** |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;**Expiration** |  |  | **Unrealized** |
| **Number of** |  | &nbsp;&nbsp;&nbsp;&nbsp;**Expiration** | **Notional** |  | **Appreciation** |
| **Contracts** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Description** | &nbsp;&nbsp;&nbsp;&nbsp;**Date** | **Value** | **Market Value** | (Depreciation) |
| 447 | 2YR US Treasury Note | &nbsp;&nbsp;&nbsp;&nbsp;3/31/2026 | $93248411 | $93328711 | $80300 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;374 | 5YR US Treasury Note | &nbsp;&nbsp;&nbsp;&nbsp;3/31/2026 | 40871737 | 40879953 | 8216 |
| **0.02% TOTAL FUTURES CONTRACTS** | **0.02% TOTAL FUTURES CONTRACTS** |  | 134120148 | 134208664 | 88516 |

---

In accordance with U.S. GAAP, "fair value" is defined as the price that a Fund would receive upon selling an investment in an orderly transaction to an independent buyer in the principal or most advantageous market for the investment. Various inputs are used in determining the value of a Fund's investments. U.S. GAAP established a three-tier hierarchy of inputs to establish a classification of fair value measurements for disclosure purposes. Level 1 includes quoted prices in active markets for identical securities. Level 2 includes other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.). Level 3 includes significant unobservable inputs (including the Fund's own assumptions in determining fair value of investments).

The inputs or methodology used for valuing securities are not necessarily an indication of the risk associated with investing in those securities.

The following summarizes the inputs used to value the Fund's investments as of December 31, 2025:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Level 1** | **Level 2** | **Level 3** |  |
|  | <br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Quoted Prices** | **Other**<br>**Significant**<br>**Observable Inputs** | **Significant**<br>**Unobservable**<br>**Inputs** | <br>**Total** |
| ASSET BACKED BONDS | $— | $142715630 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | $142715630 |
| CORPORATE BONDS |  | 29866106 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | 29866106 |
| TREASURIES |  | 147942105 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | 147942105 |
| MONEY MARKET FUND | 35828033 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | 35828033 |
| TOTAL INVESTMENTS | $35828033 | $320523841 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | $356351874 |

---

<u>curasset-soi711_123125.htm</u> <u>02/28/2026 05:32 PM</u> <u>12 of 12</u>

The cost of investments for Federal income tax purposes has been estimated a/o December 31, 2025 since the final tax characteristics cannot be determined until fiscal year end. Cost of securities for Federal income tax purpose is $357,174,424, and the related net unrealized appreciation (depreciation) consists of:

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Gross unrealized appreciation | $ | $1977139 |
| Gross unrealized depreciation |  | (2799689) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net unrealized appreciation |  | $(822550) |

---

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** World Funds Trust

- **b. Investment Company Act file number:** 811-22172

- **c. CIK number of Registrant:** 0001396092

- **d. LEI of Registrant:** 5493007BOSPYEMKSSY03

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

  - **Street Address 1:** 8730 Stony Point Parkway

  - **City:** Richmond

  - **State:** VA

  - **Foreign country:** US

  - **Zip / Postal Code:** 23235

  - **Telephone number:** 800-673-0550

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

- **a. Name of Series:** Curasset Capital Management Limited Term Income Fund

- **b. EDGAR series identifier (if any):** S000073807

- **c. LEI of Series:** 549300O64BV9SDN0ED95

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

- **a. Date of fiscal year-end:** 2026-09-30

- **b. Date as of which information is reported:** 2025-12-31

**Item A.4. Final filing**

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

### Fund Information

**Total Assets:** $361290793.82

**Total Liabilities:** $288091.39

**Net Assets:** $361002702.43

**Cash Not Reported:** $2090594.16

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** -1147.44 | **1-Year:** -23734.22 | **5-Year:** -57709.13 | **10-Year:** -805.57 | **30-Year:** -1024.17

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

- **3-Month:** -139.26 | **1-Year:** -2365.31 | **5-Year:** -3279.95 | **10-Year:** 0.00 | **30-Year:** -2205.96

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000231000 |  |  |  |
| Class ID C000231001 | 0.38%                | 0.34%                | 0.32%                |
| Class ID C000231002 |  |  |  |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $49830.46                | $-197493.55                                |
| Month 2  | $93636.05                | $-65344.72                                 |
| Month 3  | $72970.67                | $-290573.64                                |

**Designated Index Information**

- **Index Name:** Bloomberg U.S. Aggregate 1-3 year Index (USD)

- **Index Identifier:** 5747USD1

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| N/A                      | 5YR US TNOTE FVH6 31/03/2026                              | CUSIP: N/A<br>LEI: N/A       | N/A              | DIR              |  | US        |       374 | PA      | $8216.03      | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                      | 2YR US TNOTE TUH6 31/03/2026                              | CUSIP: N/A<br>LEI: N/A       | N/A              | DIR              |  | US        |       447 | PA      | $80299.97     | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Default                  | Federated Government Obligations Fund                     | CUSIP: 60934N104<br>LEI: N/A | Long             | STIV             | RF                | US        |  35828033 | NS      | $35828032.71  | 9.92%             |  |  |  | No            |                  1 | On Loan: No      |
| Default                  | Provident Funding Mortgage Trust                          | CUSIP: 74388JAA3<br>LEI: N/A | Long             | ABS-MBS          | CORP              | US        |   1000000 | PA      | $610742.68    | 0.17%             | 2051-04-25      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| Default                  | Winwater Mortgage Loan Trust                              | CUSIP: 97655JCC4<br>LEI: N/A | Long             | ABS-MBS          | CORP              | US        |    270000 | PA      | $124604.79    | 0.03%             | 2046-01-20      | Floating      | 3.78%                 | No            |                  2 | On Loan: No      |
| Default                  | COMM Mortgage Trust                                       | CUSIP: 20048KAG2<br>LEI: N/A | Long             | ABS-MBS          | CORP              | US        |     65000 | PA      | $19707.87     | 0.01%             | 2033-09-15      | Floating      | 6.22%                 | No            |                  2 | On Loan: No      |
| Default                  | Domtar Corp.                                              | CUSIP: 70478JAA2<br>LEI: N/A | Long             | DBT              | CORP              | US        |    100000 | PA      | $84081.30     | 0.02%             | 2028-10-01      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| Default                  | PRA Health Sciences, Inc.                                 | CUSIP: 45569KAA1<br>LEI: N/A | Long             | DBT              | CORP              | US        |    110000 | PA      | $109105.81    | 0.03%             | 2026-07-15      | Fixed         | 2.88%                 | No            |                  2 | On Loan: No      |
| Default                  | EPR Properties                                            | CUSIP: 26884UAE9<br>LEI: N/A | Long             | DBT              | CORP              | US        |    220000 | PA      | $221600.72    | 0.06%             | 2028-04-15      | Fixed         | 4.95%                 | No            |                  2 | On Loan: No      |
| Default                  | Federal National Mortgage Assoc.                          | CUSIP: 20754LAB5<br>LEI: N/A | Long             | ABS-MBS          | CORP              | US        |    684241 | PA      | $687605.41    | 0.19%             | 2026-12-25      | Floating      | 5.77%                 | No            |                  2 | On Loan: No      |
| Default                  | Federal Home Loan Mortgage Corp.                          | CUSIP: 3137AQH35<br>LEI: N/A | Long             | DBT              | USGSE             | US        |  28479666 | PA      | $4400.94      | 0.00%             | 2027-05-15      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Default                  | Carvana Auto Receivables Trust                            | CUSIP: 14686KAF4<br>LEI: N/A | Long             | ABS-MBS          | CORP              | US        |    100000 | PA      | $32593.84     | 0.01%             | 2028-03-10      | Fixed         | 2.90%                 | No            |                  2 | On Loan: No      |
| Default                  | Federal Home Loan Mortgage Corp.                          | CUSIP: 35564KQC6<br>LEI: N/A | Long             | DBT              | USGSE             | US        |   1350000 | PA      | $1369319.85   | 0.38%             | 2042-01-25      | Floating      | 6.37%                 | No            |                  2 | On Loan: No      |
| Default                  | Bank of America Corp.                                     | CUSIP: 060505GB4<br>LEI: N/A | Long             | DBT              | CORP              | US        |    125000 | PA      | $123646.25    | 0.03%             | 2164-06-19      | Floating      | 4.38%                 | No            |                  2 | On Loan: No      |
| Default                  | Teva Pharmaceutical Industries Ltd.                       | CUSIP: 88167AAP6<br>LEI: N/A | Long             | DBT              | CORP              | US        |    100000 | PA      | $100255.50    | 0.03%             | 2027-05-09      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| Default                  | GLS Auto Receivables Trust                                | CUSIP: 36260CAE2<br>LEI: N/A | Long             | ABS-MBS          | CORP              | US        |    725000 | PA      | $126818.97    | 0.04%             | 2027-07-15      | Fixed         | 4.31%                 | No            |                  2 | On Loan: No      |
| Default                  | Phillips 66 Partners LP                                   | CUSIP: 718549AF5<br>LEI: N/A | Long             | DBT              | CORP              | US        |    540000 | PA      | $527743.63    | 0.15%             | 2028-03-01      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| Default                  | United Auto Credit Securitization Trust                   | CUSIP: 90944DAJ0<br>LEI: N/A | Long             | ABS-MBS          | CORP              | US        |    850000 | PA      | $367458.30    | 0.10%             | 2028-11-10      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Default                  | Citigroup Mortgage Loan Trust                             | CUSIP: 17328PAQ6<br>LEI: N/A | Long             | ABS-MBS          | CORP              | US        |    250000 | PA      | $50029.35     | 0.01%             | 2050-08-25      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| Default                  | JP Morgan Mortgage Trust                                  | CUSIP: 46591LAC5<br>LEI: N/A | Long             | ABS-MBS          | CORP              | US        |    260000 | PA      | $31795.98     | 0.01%             | 2050-05-25      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Default                  | Sequoia Mortgage Trust                                    | CUSIP: 81748AAD6<br>LEI: N/A | Long             | ABS-MBS          | CORP              | US        |   1650000 | PA      | $63993.58     | 0.02%             | 2050-04-25      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Default                  | Timken Co.                                                | CUSIP: 887389AK0<br>LEI: N/A | Long             | DBT              | CORP              | US        |    500000 | PA      | $503789.50    | 0.14%             | 2028-12-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Default                  | US Treasury                                               | CUSIP: 912828Z78<br>LEI: N/A | Long             | DBT              | UST               | US        |   1107000 | PA      | $1083346.73   | 0.30%             | 2027-01-31      | Floating      | 1.50%                 | No            |                  2 | On Loan: No      |
| Default                  | Targa Resources Partners LP                               | CUSIP: 87612BBQ4<br>LEI: N/A | Long             | DBT              | CORP              | US        |    500000 | PA      | $507702.50    | 0.14%             | 2030-03-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Default                  | First Investors Auto Owner Trust                          | CUSIP: 32057KAE0<br>LEI: N/A | Long             | ABS-MBS          | CORP              | US        |    500000 | PA      | $496741.50    | 0.14%             | 2029-06-15      | Fixed         | 5.41%                 | No            |                  2 | On Loan: No      |
| Default                  | Hasbro, Inc.                                              | CUSIP: 418056AH0<br>LEI: N/A | Long             | DBT              | CORP              | US        |    798000 | PA      | $841805.41    | 0.23%             | 2028-07-15      | Fixed         | 6.60%                 | No            |                  2 | On Loan: No      |
| Default                  | Carvana Auto Receivables Trust                            | CUSIP: 14686GAE6<br>LEI: N/A | Long             | ABS-MBS          | CORP              | US        |   1777050 | PA      | $390437.47    | 0.11%             | 2028-12-11      | Fixed         | 4.13%                 | No            |                  2 | On Loan: No      |
| Default                  | Toll Bros Finance Corp.                                   | CUSIP: 88947EAS9<br>LEI: N/A | Long             | DBT              | CORP              | US        |   1000000 | PA      | $1007753.00   | 0.28%             | 2027-03-15      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| Default                  | ING Groep NV                                              | CUSIP: 456837AH6<br>LEI: N/A | Long             | DBT              | CORP              | US        |   2000000 | PA      | $1998894.00   | 0.55%             | 2027-03-29      | Fixed         | 3.95%                 | No            |                  2 | On Loan: No      |
| Default                  | Banque Federative du Credit Mutuel                        | CUSIP: 06675FAY3<br>LEI: N/A | Long             | DBT              | CORP              | US        |   2000000 | PA      | $1964868.00   | 0.54%             | 2026-10-04      | Fixed         | 1.60%                 | No            |                  2 | On Loan: No      |
| Default                  | Credit Agricole SA                                        | CUSIP: 22535WAH0<br>LEI: N/A | Long             | DBT              | CORP              | US        |   2000000 | PA      | $1995802.00   | 0.55%             | 2027-01-26      | Floating      | 1.25%                 | No            |                  2 | On Loan: No      |
| Default                  | Angel Oak Mortgage Trust                                  | CUSIP: 03465CAA3<br>LEI: N/A | Long             | ABS-MBS          | CORP              | US        |    230000 | PA      | $43031.27     | 0.01%             | 2066-01-25      | Fixed         | 0.91%                 | No            |                  2 | On Loan: No      |
| Default                  | Hubbell, Inc.                                             | CUSIP: 443510AH5<br>LEI: N/A | Long             | DBT              | CORP              | US        |   1079000 | PA      | $1065361.44   | 0.30%             | 2027-08-15      | Fixed         | 3.15%                 | No            |                  2 | On Loan: No      |
| Default                  | General Motors Financial Co.                              | CUSIP: 37045XCA2<br>LEI: N/A | Long             | DBT              | CORP              | US        |    500000 | PA      | $493776.50    | 0.14%             | 2027-09-30      | Floating      | 5.75%                 | No            |                  2 | On Loan: No      |
| Default                  | Trinity Rail Leasing LP                                   | CUSIP: 89657BAB0<br>LEI: N/A | Long             | ABS-MBS          | CORP              | US        |    600000 | PA      | $71739.13     | 0.02%             | 2049-10-18      | Fixed         | 2.39%                 | No            |                  2 | On Loan: No      |
| Default                  | TransCanada Pipelines Ltd.                                | CUSIP: 89352LAG5<br>LEI: N/A | Long             | DBT              | CORP              | CA        |   1150000 | PA      | $1254637.35   | 0.35%             | 2029-06-15      | Fixed         | 7.70%                 | No            |                  2 | On Loan: No      |
| Default                  | Harvest SBA Loan Trust                                    | CUSIP: 41755NAA8<br>LEI: N/A | Long             | ABS-MBS          | CORP              | US        |   1650000 | PA      | $266126.01    | 0.07%             | 2047-06-25      | Floating      | 6.05%                 | No            |                  2 | On Loan: No      |
| Default                  | Exeter Automobile Receivables Trust                       | CUSIP: 30166QAG4<br>LEI: N/A | Long             | ABS-MBS          | CORP              | US        |    962500 | PA      | $933407.48    | 0.26%             | 2029-10-15      | Fixed         | 6.34%                 | No            |                  2 | On Loan: No      |
| Default                  | Exeter Automobile Receivables Trust                       | CUSIP: 30166QAF6<br>LEI: N/A | Long             | ABS-MBS          | CORP              | US        |   1941250 | PA      | $1392045.64   | 0.39%             | 2028-07-17      | Fixed         | 4.56%                 | No            |                  2 | On Loan: No      |
| Default                  | CPS Auto Trust                                            | CUSIP: 12663BAE8<br>LEI: N/A | Long             | ABS-MBS          | CORP              | US        |   1100000 | PA      | $1111794.20   | 0.31%             | 2029-10-15      | Fixed         | 7.14%                 | No            |                  2 | On Loan: No      |
| Default                  | CPS Auto Trust                                            | CUSIP: 12663BAD0<br>LEI: N/A | Long             | ABS-MBS          | CORP              | US        |   2200000 | PA      | $1627591.22   | 0.45%             | 2028-08-15      | Fixed         | 5.19%                 | No            |                  2 | On Loan: No      |
| Default                  | Mill City Mortgage Trust                                  | CUSIP: 59980YAB1<br>LEI: N/A | Long             | ABS-MBS          | CORP              | US        |   1905000 | PA      | $393274.95    | 0.11%             | 2066-04-25      | Floating      | 3.50%                 | No            |                  2 | On Loan: No      |
| Default                  | Aqua Finance Trust                                        | CUSIP: 038413AA8<br>LEI: N/A | Long             | ABS-MBS          | CORP              | US        |   2200000 | PA      | $159686.01    | 0.04%             | 2046-07-17      | Fixed         | 1.90%                 | No            |                  2 | On Loan: No      |
| Default                  | Federal Home Loan Mortgage Corp.                          | CUSIP: 35564KWS4<br>LEI: N/A | Long             | DBT              | USGSE             | US        |   3162500 | PA      | $976552.46    | 0.27%             | 2042-05-25      | Floating      | 6.07%                 | No            |                  2 | On Loan: No      |
| Default                  | JP Morgan Mortgage Trust                                  | CUSIP: 46643KAA9<br>LEI: N/A | Long             | ABS-MBS          | CORP              | US        |   1000000 | PA      | $23258.56     | 0.01%             | 2029-10-25      | Floating      | 2.58%                 | No            |                  2 | On Loan: No      |
| Default                  | Credit Suisse Mortgage Trust                              | CUSIP: 12648HBE4<br>LEI: N/A | Long             | ABS-MBS          | CORP              | US        |   2989000 | PA      | $450863.32    | 0.12%             | 2044-04-25      | Floating      | 3.80%                 | No            |                  2 | On Loan: No      |
| Default                  | Energy Transfer LP                                        | CUSIP: 29273VAJ9<br>LEI: N/A | Long             | DBT              | CORP              | US        |    600000 | PA      | $596958.00    | 0.17%             | 2028-02-15      | Floating      | 6.62%                 | No            |                  2 | On Loan: No      |
| Default                  | SMB Private Education Loan Trust                          | CUSIP: 78449UAB4<br>LEI: N/A | Long             | ABS-MBS          | CORP              | US        |   2000000 | PA      | $526815.38    | 0.15%             | 2037-09-15      | Fixed         | 2.23%                 | No            |                  2 | On Loan: No      |
| Default                  | Credit Suisse Mortgage Trust                              | CUSIP: 12648HBC8<br>LEI: N/A | Long             | ABS-MBS          | CORP              | US        |   3940000 | PA      | $414678.22    | 0.11%             | 2037-04-25      | Floating      | 3.80%                 | No            |                  2 | On Loan: No      |
| FANNIE MAE               | Federal National Mortgage Assoc.                          | CUSIP: 3136BMXV5<br>LEI: N/A | Long             | DBT              | USGSE             | US        |  27788800 | PA      | $50131.80     | 0.01%             | 2046-02-25      | Floating      | 0.16%                 | No            |                  2 | On Loan: No      |
| FIRST CITIZENS BANKSHARE | First Citizens Bancshare                                  | CUSIP: 31959XAA1<br>LEI: N/A | Long             | DBT              | CORP              | US        |   1000000 | PA      | $1012607.00   | 0.28%             | 2164-06-19      | Floating      | 7.96%                 | No            |                  2 | On Loan: No      |
| Default                  | Federal National Mortgage Assoc.                          | CUSIP: 30711XY32<br>LEI: N/A | Long             | DBT              | USGSE             | US        |   1000000 | PA      | $1082243.00   | 0.30%             | 2031-01-25      | Floating      | 8.24%                 | No            |                  2 | On Loan: No      |
| Default                  | United Auto Credit Securitization Turst                   | CUSIP: 90944KAF2<br>LEI: N/A | Long             | ABS-MBS          | CORP              | US        |    600000 | PA      | $253856.40    | 0.07%             | 2029-04-10      | Fixed         | 10.00%                | No            |                  2 | On Loan: No      |
| FANNIE MAE               | Federal National Mortgage Assoc.                          | CUSIP: 3136BNFA9<br>LEI: N/A | Long             | DBT              | USGSE             | US        |  33025657 | PA      | $47245.20     | 0.01%             | 2047-02-25      | Floating      | 0.11%                 | No            |                  2 | On Loan: No      |
| Default                  | Carvana Auto Receivables Trust                            | CUSIP: 14687HAC7<br>LEI: N/A | Long             | ABS-MBS          | CORP              | US        |   2000000 | PA      | $106352.31    | 0.03%             | 2028-09-11      | Fixed         | 1.24%                 | No            |                  2 | On Loan: No      |
| Default                  | Connecticut Avenue Securities Trust                       | CUSIP: 20755DAB2<br>LEI: N/A | Long             | DBT              | USGSE             | US        |   2980000 | PA      | $3080408.12   | 0.85%             | 2042-07-25      | Floating      | 7.47%                 | No            |                  2 | On Loan: No      |
| Default                  | Federal National Mortgage Assoc.                          | CUSIP: 3136BNEW2<br>LEI: N/A | Long             | DBT              | USGSE             | US        |  49821831 | PA      | $51218.68     | 0.01%             | 2046-11-25      | Floating      | 0.11%                 | No            |                  2 | On Loan: No      |
| Default                  | Lad Auto Receivables Trust                                | CUSIP: 501687AC1<br>LEI: N/A | Long             | ABS-MBS          | CORP              | US        |    726000 | PA      | $734086.19    | 0.20%             | 2030-04-15      | Fixed         | 6.85%                 | No            |                  2 | On Loan: No      |
| Default                  | GCAT Trust                                                | CUSIP: 36167YAA6<br>LEI: N/A | Long             | ABS-MBS          | CORP              | US        |    260000 | PA      | $98072.45     | 0.03%             | 2066-08-25      | Fixed         | 1.92%                 | No            |                  2 | On Loan: No      |
| Default                  | Carvana Auto Receivables Trust                            | CUSIP: 14686MAF0<br>LEI: N/A | Long             | ABS-MBS          | CORP              | US        |    175000 | PA      | $178056.20    | 0.05%             | 2028-11-10      | Fixed         | 5.54%                 | No            |                  2 | On Loan: No      |
| Default                  | The Goldman Sachs Group, Inc.                             | CUSIP: 38144GAG6<br>LEI: N/A | Long             | DBT              | CORP              | US        |    500000 | PA      | $492815.50    | 0.14%             | 2164-07-21      | Floating      | 3.65%                 | No            |                  2 | On Loan: No      |
| Default                  | Connecticut Avenue Securities Trust                       | CUSIP: 20753DAA6<br>LEI: N/A | Long             | DBT              | USGSE             | US        |    700000 | PA      | $241805.68    | 0.07%             | 2042-09-25      | Floating      | 6.37%                 | No            |                  2 | On Loan: No      |
| Default                  | Arivo Acceptance Auto Loan Rec'ls Trust                   | CUSIP: 04047JAA3<br>LEI: N/A | Long             | ABS-MBS          | CORP              | US        |   1000000 | PA      | $157232.26    | 0.04%             | 2029-01-16      | Fixed         | 6.90%                 | No            |                  2 | On Loan: No      |
| Default                  | Carvana Auto Receivables Trust                            | CUSIP: 14686KAD9<br>LEI: N/A | Long             | ABS-MBS          | CORP              | US        |    960000 | PA      | $88915.27     | 0.02%             | 2028-03-10      | Fixed         | 1.07%                 | No            |                  2 | On Loan: No      |
| Default                  | Timken Co.                                                | CUSIP: 88738TAA8<br>LEI: N/A | Long             | DBT              | CORP              | US        |    480000 | PA      | $504216.00    | 0.14%             | 2028-05-08      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| Default                  | Flagship Credit Auto Trust                                | CUSIP: 33846QAE1<br>LEI: N/A | Long             | ABS-MBS          | CORP              | US        |    506000 | PA      | $75309.28     | 0.02%             | 2027-09-15      | Fixed         | 1.46%                 | No            |                  2 | On Loan: No      |
| Default                  | Tricolor Auto Securitization Trust                        | CUSIP: 89616KAE4<br>LEI: N/A | Long             | ABS-MBS          | CORP              | US        |    600000 | PA      | $252000.00    | 0.07%             | 2028-06-15      | Fixed         | 13.45%                | No            |                  2 | On Loan: No      |
| Default                  | Avid Automobile Receivables Trust                         | CUSIP: 05368QAC1<br>LEI: N/A | Long             | ABS-MBS          | CORP              | US        |    900000 | PA      | $579612.14    | 0.16%             | 2027-12-15      | Fixed         | 7.35%                 | No            |                  2 | On Loan: No      |
| Default                  | Washington Gas Light Co.                                  | CUSIP: 93884PCJ7<br>LEI: N/A | Long             | DBT              | CORP              | US        |   1000000 | PA      | $1017837.00   | 0.28%             | 2026-10-09      | Fixed         | 6.82%                 | No            |                  2 | On Loan: No      |
| Default                  | CPS Auto Trust                                            | CUSIP: 12664WAE1<br>LEI: N/A | Long             | ABS-MBS          | CORP              | US        |    450000 | PA      | $495802.35    | 0.14%             | 2030-11-15      | Fixed         | 10.72%                | No            |                  2 | On Loan: No      |
| Default                  | Federal National Mortgage Assoc.                          | CUSIP: 3136AJGA8<br>LEI: N/A | Long             | ABS-MBS          | CORP              | US        |  13817854 | PA      | $64388.44     | 0.02%             | 2042-08-25      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Default                  | Saluda Grade Alternative Mortgage Trust                   | CUSIP: 79582GAA2<br>LEI: N/A | Long             | ABS-MBS          | CORP              | US        |   1000000 | PA      | $402279.30    | 0.11%             | 2053-06-25      | Floating      | 7.16%                 | No            |                  2 | On Loan: No      |
| Default                  | Westlake Automobile Receivable                            | CUSIP: 96042WAG2<br>LEI: N/A | Long             | ABS-MBS          | CORP              | US        |   1487200 | PA      | $168992.13    | 0.05%             | 2027-03-15      | Fixed         | 3.49%                 | No            |                  2 | On Loan: No      |
| Default                  | DT Auto Owner Trust                                       | CUSIP: 23344QAD1<br>LEI: N/A | Long             | ABS-MBS          | CORP              | US        |   1200000 | PA      | $369919.95    | 0.10%             | 2027-05-17      | Fixed         | 1.31%                 | No            |                  2 | On Loan: No      |
| Default                  | Federal National Mortgage Assoc.                          | CUSIP: 3136AAL86<br>LEI: N/A | Long             | ABS-MBS          | CORP              | US        |   1050000 | PA      | $78014.11     | 0.02%             | 2032-12-25      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| Default                  | BorgWarner, Inc.                                          | CUSIP: 099724AC0<br>LEI: N/A | Long             | DBT              | CORP              | US        |    600000 | PA      | $647238.60    | 0.18%             | 2029-02-15      | Fixed         | 7.12%                 | No            |                  2 | On Loan: No      |
| Default                  | Federal Home Loan Mortgage Corp.                          | CUSIP: 35564K2F5<br>LEI: N/A | Long             | ABS-MBS          | CORP              | US        |   2675000 | PA      | $497455.17    | 0.14%             | 2043-06-25      | Floating      | 5.87%                 | No            |                  2 | On Loan: No      |
| Default                  | Federal National Mortgage Assoc.                          | CUSIP: 20754EAA3<br>LEI: N/A | Long             | ABS-MBS          | CORP              | US        |   1781119 | PA      | $665486.83    | 0.18%             | 2043-07-25      | Floating      | 5.57%                 | No            |                  2 | On Loan: No      |
| Default                  | Federal Home Loan Mortgage Corp.                          | CUSIP: 35564KX79<br>LEI: N/A | Long             | ABS-MBS          | CORP              | US        |   2200000 | PA      | $891593.10    | 0.25%             | 2043-05-25      | Floating      | 5.87%                 | No            |                  2 | On Loan: No      |
| Default                  | Federal National Mortgage Assoc.                          | CUSIP: 20753ACJ1<br>LEI: N/A | Long             | ABS-MBS          | CORP              | US        |   2605000 | PA      | $930807.33    | 0.26%             | 2043-04-25      | Floating      | 6.37%                 | No            |                  2 | On Loan: No      |
| Default                  | X-Caliber Funding LLC                                     | CUSIP: 98373XBD1<br>LEI: N/A | Long             | ABS-MBS          | CORP              | US        |   1200000 | PA      | $686676.60    | 0.19%             | 2030-11-15      | Fixed         | 8.58%                 | No            |                  2 | On Loan: No      |
| Default                  | Federal Home Loan Mortgage Corp.                          | CUSIP: 35564KT58<br>LEI: N/A | Long             | ABS-MBS          | CORP              | US        |   1730000 | PA      | $937515.81    | 0.26%             | 2043-04-25      | Floating      | 5.97%                 | No            |                  2 | On Loan: No      |
| Default                  | Federal Home Loan Mortgage Corp.                          | CUSIP: 35564KHE2<br>LEI: N/A | Long             | ABS-MBS          | CORP              | US        |    135026 | PA      | $31736.01     | 0.01%             | 2034-01-25      | Floating      | 5.52%                 | No            |                  2 | On Loan: No      |
| Default                  | Lendbuzz Securitization Trust                             | CUSIP: 525931AB7<br>LEI: N/A | Long             | ABS-MBS          | CORP              | US        |    600000 | PA      | $224029.36    | 0.06%             | 2028-12-15      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| Default                  | Exeter Automobile Receivables Trust                       | CUSIP: 30167JAF1<br>LEI: N/A | Long             | ABS-MBS          | CORP              | US        |   1695000 | PA      | $733039.49    | 0.20%             | 2028-06-15      | Fixed         | 3.02%                 | No            |                  2 | On Loan: No      |
| Default                  | Carvana Auto Receivables Trust                            | CUSIP: 14686KAB3<br>LEI: N/A | Long             | ABS-MBS          | CORP              | US        |    432000 | PA      | $86706.69     | 0.02%             | 2028-03-10      | Fixed         | 0.97%                 | No            |                  2 | On Loan: No      |
| Default                  | Federal National Mortgage Assoc.                          | CUSIP: 20755AAB8<br>LEI: N/A | Long             | DBT              | USGSE             | US        |   1074000 | PA      | $633392.59    | 0.18%             | 2043-01-25      | Floating      | 6.17%                 | No            |                  2 | On Loan: No      |
| Default                  | Federal Home Loan Mortgage Corp.                          | CUSIP: 35564KYN3<br>LEI: N/A | Long             | DBT              | USGSE             | US        |     70000 | PA      | $23007.81     | 0.01%             | 2042-06-25      | Floating      | 6.82%                 | No            |                  2 | On Loan: No      |
| Default                  | Velocity Commercial Capital                               | CUSIP: 92259HAA5<br>LEI: N/A | Long             | ABS-MBS          | CORP              | US        |    300000 | PA      | $159921.36    | 0.04%             | 2053-11-25      | Floating      | 7.67%                 | No            |                  2 | On Loan: No      |
| Default                  | Federal National Mortgage Assoc.                          | CUSIP: 207942AA1<br>LEI: N/A | Long             | DBT              | USGSE             | US        |    720214 | PA      | $313689.64    | 0.09%             | 2043-06-25      | Floating      | 5.77%                 | No            |                  2 | On Loan: No      |
| Default                  | OSCAR US Funding Trust 04/10/2028 1.000% 144A             | CUSIP: 68785AAD7<br>LEI: N/A | Long             | ABS-MBS          | CORP              | US        |   1040000 | PA      | $47872.37     | 0.01%             | 2028-04-10      | Fixed         | 1.00%                 | No            |                  2 | On Loan: No      |
| Default                  | Federal National Mortgage Assoc.                          | CUSIP: 20753XAA2<br>LEI: N/A | Long             | DBT              | USGSE             | US        |   1225000 | PA      | $421930.52    | 0.12%             | 2042-03-25      | Floating      | 5.97%                 | No            |                  2 | On Loan: No      |
| Default                  | Federal Home Loan Mortgage Corp.                          | CUSIP: 35564KRE1<br>LEI: N/A | Long             | DBT              | USGSE             | US        |    580000 | PA      | $88623.77     | 0.02%             | 2042-02-25      | Floating      | 5.17%                 | No            |                  2 | On Loan: No      |
| Default                  | Research-Driven Pagaya Motor 03/25/2032 7.540% 144A       | CUSIP: 76088UAA6<br>LEI: N/A | Long             | ABS-MBS          | CORP              | US        |    275000 | PA      | $102427.23    | 0.03%             | 2032-03-25      | Fixed         | 7.54%                 | No            |                  2 | On Loan: No      |
| Default                  | Federal Home Loan Mortgage Corp.                          | CUSIP: 35566AAH2<br>LEI: N/A | Long             | DBT              | USGSE             | US        |    214000 | PA      | $2541.64      | 0.00%             | 2050-10-25      | Floating      | 6.67%                 | No            |                  2 | On Loan: No      |
| Default                  | Federal Home Loan Mortgage Corp.                          | CUSIP: 35566CAH8<br>LEI: N/A | Long             | DBT              | USGSE             | US        |   1000000 | PA      | $374971.38    | 0.10%             | 2050-12-25      | Floating      | 5.87%                 | No            |                  2 | On Loan: No      |
| Default                  | Federal National Mortgage Assoc.                          | CUSIP: 20755CAA6<br>LEI: N/A | Long             | DBT              | USGSE             | US        |   2000000 | PA      | $701496.62    | 0.19%             | 2043-10-25      | Floating      | 5.37%                 | No            |                  2 | On Loan: No      |
| Default                  | Federal National Mortgage Assoc.                          | CUSIP: 20754MBZ9<br>LEI: N/A | Long             | DBT              | USGSE             | US        |   1104000 | PA      | $447670.93    | 0.12%             | 2042-06-25      | Floating      | 6.82%                 | No            |                  2 | On Loan: No      |
| Default                  | Federal National Mortgage Assoc.                          | CUSIP: 20755DAA4<br>LEI: N/A | Long             | DBT              | USGSE             | US        |   1795002 | PA      | $980874.03    | 0.27%             | 2042-07-25      | Floating      | 6.42%                 | No            |                  2 | On Loan: No      |
| Default                  | Federal Home Loan Mortgage Corp.                          | CUSIP: 35564K3G2<br>LEI: N/A | Long             | DBT              | USGSE             | US        |   1000000 | PA      | $449010.61    | 0.12%             | 2043-11-25      | Floating      | 5.72%                 | No            |                  2 | On Loan: No      |
| Default                  | Transamerica Capital II                                   | CUSIP: 893472AA8<br>LEI: N/A | Long             | DBT              | CORP              | US        |    825000 | PA      | $835231.65    | 0.23%             | 2026-12-01      | Fixed         | 7.65%                 | No            |                  2 | On Loan: No      |
| Default                  | US Treasury                                               | CUSIP: 91282CJP7<br>LEI: N/A | Long             | DBT              | UST               | US        |   5000000 | PA      | $5039220.00   | 1.40%             | 2026-12-15      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| Default                  | Cheniere Energy Inc. 10/15/2028 4.625%                    | CUSIP: 16411RAK5<br>LEI: N/A | Long             | DBT              | CORP              | US        |    500000 | PA      | $499152.50    | 0.14%             | 2028-10-15      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| Default                  | X-Caliber Funding LLC 08/04/2027 12.000% 144A             | CUSIP: 98373XBP4<br>LEI: N/A | Long             | ABS-MBS          | CORP              | US        |    550000 | PA      | $554101.90    | 0.15%             | 2027-08-04      | Fixed         | 12.00%                | No            |                  2 | On Loan: No      |
| Default                  | US Treasury 01/15/2027 4.000%                             | CUSIP: 91282CJT9<br>LEI: N/A | Long             | DBT              | UST               | US        |  21000000 | PA      | $21100695.00  | 5.85%             | 2027-01-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Default                  | US Treasury 10/15/2028 2.375%                             | CUSIP: 91282CJH5<br>LEI: N/A | Long             | DBT              | UST               | US        |   8000000 | PA      | $8756039.45   | 2.43%             | 2028-10-15      | Floating      | 2.38%                 | No            |                  2 | On Loan: No      |
| Default                  | GLS Auto Receivables Trust 10/15/2027 3.510% 144A         | CUSIP: 36261EAE7<br>LEI: N/A | Long             | ABS-MBS          | CORP              | US        |    357500 | PA      | $151951.26    | 0.04%             | 2027-10-15      | Fixed         | 3.51%                 | No            |                  2 | On Loan: No      |
| Default                  | Saluda Grace Alternative Mortgage 02/25/2030 7.500% 144A  | CUSIP: 79584CAA9<br>LEI: N/A | Long             | ABS-MBS          | CORP              | US        |    550000 | PA      | $550767.25    | 0.15%             | 2030-02-25      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| Default                  | US Treasury 02/15/2027 4.000%                             | CUSIP: 91282CKA8<br>LEI: N/A | Long             | DBT              | UST               | US        |   4000000 | PA      | $4026252.00   | 1.12%             | 2027-02-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Default                  | Pagaya AI Debt Selection Trust 07/15/2031 VAR% 144A       | CUSIP: 69548RAC8<br>LEI: N/A | Long             | ABS-MBS          | CORP              | US        |    550000 | PA      | $104197.41    | 0.03%             | 2031-07-15      | Floating      | 8.80%                 | No            |                  2 | On Loan: No      |
| Default                  | DT Auto Owner Trust 09/15/2028 2.650% 144A                | CUSIP: 23344QAE9<br>LEI: N/A | Long             | ABS-MBS          | CORP              | US        |    550000 | PA      | $548505.10    | 0.15%             | 2028-09-15      | Fixed         | 2.65%                 | No            |                  2 | On Loan: No      |
| Default                  | US Treasury 11/30/2028 4.375%                             | CUSIP: 91282CJN2<br>LEI: N/A | Long             | DBT              | UST               | US        |   2101000 | PA      | $2148682.20   | 0.60%             | 2028-11-30      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| Default                  | Ocwen Loan Investment Trust 02/25/2037 3.000% 144A        | CUSIP: 675952AE5<br>LEI: N/A | Long             | ABS-MBS          | CORP              | US        |    500000 | PA      | $468104.00    | 0.13%             | 2037-02-25      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Default                  | Ocwen Loan Investment Trust 02/25/2037 3.000% 144A        | CUSIP: 675952AA3<br>LEI: N/A | Long             | ABS-MBS          | CORP              | US        |    500000 | PA      | $130826.57    | 0.04%             | 2037-02-25      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Default                  | Veros Auto Receivables Trust 11/15/2028 8.320% 144A       | CUSIP: 924933AC8<br>LEI: N/A | Long             | ABS-MBS          | CORP              | US        |   1001000 | PA      | $1020404.39   | 0.28%             | 2028-11-15      | Fixed         | 8.32%                 | No            |                  2 | On Loan: No      |
| Default                  | US Treasury 01/31/2026 4.250%                             | CUSIP: 91282CJV4<br>LEI: N/A | Long             | DBT              | UST               | US        |    525000 | PA      | $525210.00    | 0.15%             | 2026-01-31      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| Default                  | Exeter Automobile Recei  06/15/2027 VAR%                  | CUSIP: 30166AAF1<br>LEI: N/A | Long             | ABS-MBS          | CORP              | US        |   1281500 | PA      | $463282.59    | 0.13%             | 2027-06-15      | Floating      | 1.55%                 | No            |                  2 | On Loan: No      |
| Default                  | Venture CDO Ltd  07/15/2032 VAR%                          | CUSIP: 92328XBF5<br>LEI: N/A | Long             | ABS-MBS          | CORP              | US        |   1100000 | PA      | $1112650.00   | 0.31%             | 2032-07-15      | Floating      | 6.04%                 | No            |                  2 | On Loan: No      |
| Default                  | Bluemountain CLO Ltd 10/20/2030 var% 144A                 | CUSIP: 09629EAE1<br>LEI: N/A | Long             | ABS-MBS          | CORP              | US        |    520000 | PA      | $522600.00    | 0.14%             | 2030-10-20      | Floating      | 5.75%                 | No            |                  2 | On Loan: No      |
| Default                  | DT Auto Owner Trust 12/15/2027 3.400% 144A                | CUSIP: 23345YAG6<br>LEI: N/A | Long             | ABS-MBS          | CORP              | US        |    624000 | PA      | $242742.31    | 0.07%             | 2027-12-15      | Fixed         | 3.40%                 | No            |                  2 | On Loan: No      |
| Default                  | Atlas Senior Loan Fund LTD 04/22/2031 VAR% 144A           | CUSIP: 04942VBA1<br>LEI: N/A | Long             | ABS-MBS          | CORP              | US        |    559000 | PA      | $560229.80    | 0.16%             | 2031-04-22      | Floating      | 5.72%                 | No            |                  2 | On Loan: No      |
| Default                  | Saluda Grace Alternative Mortgage 04/25/2030 VAR% 144A    | CUSIP: 795935AA3<br>LEI: N/A | Long             | ABS-MBS          | CORP              | US        |    260000 | PA      | $261861.34    | 0.07%             | 2030-04-25      | Floating      | 7.76%                 | No            |                  2 | On Loan: No      |
| Default                  | Freddie Mac 09/25/2042 VAR%                               | CUSIP: 35564KH36<br>LEI: N/A | Long             | DBT              | USGSE             | US        |   1000000 | PA      | $189056.16    | 0.05%             | 2042-09-25      | Floating      | 6.02%                 | No            |                  2 | On Loan: No      |
| Default                  | ARTFI 12/22/2031 VAR% 144A                                | CUSIP: 83589CAB4<br>LEI: N/A | Long             | ABS-MBS          | CORP              | US        |    520000 | PA      | $520112.32    | 0.14%             | 2031-12-22      | Floating      | 5.19%                 | No            |                  2 | On Loan: No      |
| Default                  | Lendbuzz Securitization Trust 05/15/2029 5.990% 144A      | CUSIP: 525920AB0<br>LEI: N/A | Long             | ABS-MBS          | CORP              | US        |    550000 | PA      | $250203.72    | 0.07%             | 2029-05-15      | Fixed         | 5.99%                 | No            |                  2 | On Loan: No      |
| Default                  | Freddie Mac 01/25/2051 VAR% 144A                          | CUSIP: 35564KAH2<br>LEI: N/A | Long             | ABS-MBS          | CORP              | US        |   2000000 | PA      | $704767.88    | 0.20%             | 2051-01-25      | Floating      | 5.67%                 | No            |                  2 | On Loan: No      |
| Default                  | Sound Point CLO LTD 07/18/2031 VAR% 144A                  | CUSIP: 83607EAC6<br>LEI: N/A | Long             | ABS-MBS          | CORP              | US        |    530000 | PA      | $534823.00    | 0.15%             | 2031-07-18      | Floating      | 6.34%                 | No            |                  2 | On Loan: No      |
| Default                  | Energen Corp 02/15/2028 7.125%                            | CUSIP: 29265AAS5<br>LEI: N/A | Long             | DBT              | CORP              | US        |    525000 | PA      | $549004.05    | 0.15%             | 2028-02-18      | Fixed         | 7.12%                 | No            |                  2 | On Loan: No      |
| Default                  | OZLM Ltd 04/15/2031 VAR% 144A                             | CUSIP: 67112GAA6<br>LEI: N/A | Long             | ABS-MBS          | CORP              | US        |   2000000 | PA      | $241885.20    | 0.07%             | 2031-04-15      | Floating      | 5.19%                 | No            |                  2 | On Loan: No      |
| Default                  | Fannie Mae 08/25/2028 VAR%                                | CUSIP: 30711XBU7<br>LEI: N/A | Long             | DBT              | USGSE             | US        |   3855000 | PA      | $166956.95    | 0.05%             | 2028-08-25      | Floating      | 10.94%                | No            |                  2 | On Loan: No      |
| Default                  | Shackleton CLO Ltd 08/15/2030 VAR% 144A                   | CUSIP: 81883EAJ0<br>LEI: N/A | Long             | ABS-MBS          | CORP              | US        |   1002000 | PA      | $1010817.60   | 0.28%             | 2030-08-15      | Floating      | 6.26%                 | No            |                  2 | On Loan: No      |
| Default                  | GLS Auto Receivables Trust 07/15/2027 1.480% 144A         | CUSIP: 36263LAG4<br>LEI: N/A | Long             | ABS-MBS          | CORP              | US        |   1000000 | PA      | $236930.89    | 0.07%             | 2027-07-15      | Fixed         | 1.48%                 | No            |                  2 | On Loan: No      |
| Default                  | GoldenTree Loan Management 07/20/2037 VAR% 144A           | CUSIP: 38139MAA3<br>LEI: N/A | Long             | ABS-MBS          | CORP              | US        |   1250000 | PA      | $624187.50    | 0.17%             | 2037-07-20      | Floating      | 4.78%                 | No            |                  2 | On Loan: No      |
| Default                  | Generate CLO Ltd 07/22/2037 VAR% 144A                     | CUSIP: 37148XAA0<br>LEI: N/A | Long             | ABS-MBS          | CORP              | US        |   3200000 | PA      | $1597440.00   | 0.44%             | 2037-07-22      | Floating      | 4.91%                 | No            |                  2 | On Loan: No      |
| Default                  | Tricolor Auto Securitization Trust 02/15/2028 6.570% 144A | CUSIP: 89616PAB9<br>LEI: N/A | Long             | ABS-MBS          | CORP              | US        |    720000 | PA      | $504000.00    | 0.14%             | 2028-02-15      | Fixed         | 6.57%                 | No            |                  2 | On Loan: No      |
| Default                  | Fannie Mae 08/25/2028 VAR%                                | CUSIP: 30711XBM5<br>LEI: N/A | Long             | DBT              | USGSE             | US        |    485000 | PA      | $27205.97     | 0.01%             | 2028-08-25      | Floating      | 10.74%                | No            |                  2 | On Loan: No      |
| Default                  | CoreVest American Finance Trust 10/15/2054 2.911% 144A    | CUSIP: 21873NAJ8<br>LEI: N/A | Long             | ABS-MBS          | CORP              | US        |   1040000 | PA      | $989665.04    | 0.27%             | 2054-10-15      | Fixed         | 2.91%                 | No            |                  2 | On Loan: No      |
| Default                  | Freddie Mac 03/25/2043 VAR% 144A                          | CUSIP: 35564KP37<br>LEI: N/A | Long             | DBT              | USGSE             | US        |   1150000 | PA      | $585981.84    | 0.16%             | 2043-03-25      | Floating      | 5.97%                 | No            |                  2 | On Loan: No      |
| Default                  | Fannie Mae 10/25/2041 VAR% 144A                           | CUSIP: 20754RAB2<br>LEI: N/A | Long             | DBT              | USGSE             | US        |    375000 | PA      | $186774.11    | 0.05%             | 2041-10-25      | Floating      | 5.42%                 | No            |                  2 | On Loan: No      |
| Default                  | Crown City CLO 07/15/2037 VAR% 144A                       | CUSIP: 22823EAN8<br>LEI: N/A | Long             | ABS-MBS          | CORP              | US        |   1500000 | PA      | $642084.57    | 0.18%             | 2037-07-15      | Floating      | 4.95%                 | No            |                  2 | On Loan: No      |
| Default                  | Alliance Res Op/Finance 06/15/29 8.625% 144A              | CUSIP: 01879NAC9<br>LEI: N/A | Long             | DBT              | CORP              | US        |    550000 | PA      | $579795.70    | 0.16%             | 2029-06-15      | Fixed         | 8.62%                 | No            |                  2 | On Loan: No      |
| Default                  | Fannie Mae 05/25/2042 VAR% 144A                           | CUSIP: 20754NAB1<br>LEI: N/A | Long             | DBT              | USGSE             | US        |   1650000 | PA      | $653426.27    | 0.18%             | 2042-05-25      | Floating      | 6.62%                 | No            |                  2 | On Loan: No      |
| Default                  | TSY INFL 01/15/2026 2.000%                                | CUSIP: 912810FS2<br>LEI: N/A | Long             | DBT              | UST               | US        |   1000000 | PA      | $1637231.94   | 0.45%             | 2026-01-15      | Floating      | 2.00%                 | No            |                  2 | On Loan: No      |
| Default                  | ICG US CLO Ltd 01/15/2031 VAR                             | CUSIP: BCC2FMLA6<br>LEI: N/A | Long             | ABS-MBS          | CORP              | US        |    530000 | PA      | $532014.00    | 0.15%             | 2031-01-15      | Floating      | 5.97%                 | No            |                  2 | On Loan: No      |
| Default                  | ZAIS CLO 01/20/2032 VAR%                                  | CUSIP: 98887YAQ0<br>LEI: N/A | Long             | ABS-MBS          | CORP              | US        |    530000 | PA      | $533551.00    | 0.15%             | 2032-01-20      | Floating      | 5.67%                 | No            |                  2 | On Loan: No      |
| Default                  | Exter Automobile Rec 04/15/2027 1.400%                    | CUSIP: 30165XAF2<br>LEI: N/A | Long             | ABS-MBS          | CORP              | US        |   1756950 | PA      | $429691.04    | 0.12%             | 2027-04-15      | Fixed         | 1.40%                 | No            |                  2 | On Loan: No      |
| Default                  | Benefit Street Partners 07/15/2037 VAR% 144A              | CUSIP: 08179MAL3<br>LEI: N/A | Long             | ABS-MBS          | CORP              | US        |   1060000 | PA      | $793807.50    | 0.22%             | 2037-07-15      | Floating      | 5.84%                 | No            |                  2 | On Loan: No      |
| Default                  | Crossroads Asset Trusts 08/20/2030 5.90%                  | CUSIP: 227927AB6<br>LEI: N/A | Long             | ABS-MBS          | CORP              | US        |    260000 | PA      | $138429.31    | 0.04%             | 2030-08-20      | Fixed         | 5.90%                 | No            |                  2 | On Loan: No      |
| Default                  | Ballyrock Ltd 07/20/2037 VAR% 144A                        | CUSIP: 05874XAJ8<br>LEI: N/A | Long             | ABS-MBS          | CORP              | US        |   1000000 | PA      | $499300.00    | 0.14%             | 2037-07-20      | Floating      | 4.88%                 | No            |                  2 | On Loan: No      |
| Default                  | Generate CLO 07/20/2037 VAR% 144A                         | CUSIP: 37148BAA8<br>LEI: N/A | Long             | ABS-MBS          | CORP              | US        |   1750000 | PA      | $655528.13    | 0.18%             | 2037-07-20      | Floating      | 4.88%                 | No            |                  2 | On Loan: No      |
| Default                  | Freddie Mac- Stacr 01/25/2042 VAR%                        | CUSIP: 35564KPU7<br>LEI: N/A | Long             | ABS-MBS          | CORP              | US        |    250000 | PA      | $91210.93     | 0.03%             | 2042-01-25      | Floating      | 4.87%                 | No            |                  2 | On Loan: No      |
| Default                  | Freddie Mac- STACR 12/25/2041 VAR% 144A                   | CUSIP: 35564KPP8<br>LEI: N/A | Long             | ABS-MBS          | CORP              | US        |   1600000 | PA      | $1676371.20   | 0.46%             | 2041-12-25      | Floating      | 10.87%                | No            |                  2 | On Loan: No      |
| Default                  | Fannie Mae 04/25/2042 VAR% 144A                           | CUSIP: 20754DAA5<br>LEI: N/A | Long             | DBT              | USGSE             | US        |   2295000 | PA      | $235261.12    | 0.07%             | 2042-04-25      | Floating      | 5.77%                 | No            |                  2 | On Loan: No      |
| Default                  | Fannie Mae 12/25/2041 VAR% 144A                           | CUSIP: 20754AAB9<br>LEI: N/A | Long             | DBT              | USGSE             | US        |   2210000 | PA      | $2222110.80   | 0.62%             | 2041-12-25      | Floating      | 5.52%                 | No            |                  2 | On Loan: No      |
| Default                  | Freddie Mac- STACR 11/25/2041 VAR% 144A                   | CUSIP: 35564KMH9<br>LEI: N/A | Long             | ABS-MBS          | CORP              | US        |   1221685 | PA      | $1230787.78   | 0.34%             | 2041-11-25      | Floating      | 5.67%                 | No            |                  2 | On Loan: No      |
| Default                  | Fannie Mae 02/25/2030 VAR%                                | CUSIP: 30711XSX3<br>LEI: N/A | Long             | DBT              | USGSE             | US        |    850000 | PA      | $216223.74    | 0.06%             | 2030-02-25      | Floating      | 6.79%                 | No            |                  2 | On Loan: No      |
| Default                  | Fannie Mae 03/25/2042 VAR% 144A                           | CUSIP: 20753YCH3<br>LEI: N/A | Long             | DBT              | USGSE             | US        |    400000 | PA      | $129981.32    | 0.04%             | 2042-03-25      | Floating      | 5.87%                 | No            |                  2 | On Loan: No      |
| Default                  | Freddie Mac 02/25/2042 VAR% 144A                          | CUSIP: 35564KRF8<br>LEI: N/A | Long             | DBT              | USGSE             | US        |   2600000 | PA      | $2637388.00   | 0.73%             | 2042-02-25      | Floating      | 6.27%                 | No            |                  2 | On Loan: No      |
| Default                  | Freddie Mac 03/25/2042 VAR% 144A                          | CUSIP: 35564KTJ8<br>LEI: N/A | Long             | DBT              | USGSE             | US        |    250000 | PA      | $262234.75    | 0.07%             | 2042-03-25      | Floating      | 9.12%                 | No            |                  2 | On Loan: No      |
| Default                  | Freddie Mac 11/25/2043 VAR% 144A                          | CUSIP: 35564K3F4<br>LEI: N/A | Long             | DBT              | USGSE             | US        |   3550000 | PA      | $3115522.01   | 0.86%             | 2043-11-25      | Floating      | 5.72%                 | No            |                  2 | On Loan: No      |
| Default                  | Fannie Mae- CAS 12/25/2042 Var%                           | CUSIP: 207932AA2<br>LEI: N/A | Long             | ABS-MBS          | CORP              | US        |   2250000 | PA      | $1329408.86   | 0.37%             | 2042-12-25      | Floating      | 6.27%                 | No            |                  2 | On Loan: No      |
| Default                  | M&T Equipment Notes 07/15/2030 5.74%                      | CUSIP: 551925AB6<br>LEI: N/A | Long             | ABS-MBS          | CORP              | US        |    460000 | PA      | $237159.65    | 0.07%             | 2030-07-15      | Fixed         | 5.74%                 | No            |                  2 | On Loan: No      |
| Default                  | US Treasury N/B 05/31/2026 4.875%                         | CUSIP: 91282CKS9<br>LEI: N/A | Long             | DBT              | UST               | US        |  10000000 | PA      | $10051860.00  | 2.78%             | 2026-05-31      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| Default                  | Freddie Mac STACR 10/25/2041 VAR% 144A                    | CUSIP: 35564KKY4<br>LEI: N/A | Long             | ABS-MBS          | CORP              | US        |   1160000 | PA      | $930624.92    | 0.26%             | 2041-10-25      | Floating      | 5.37%                 | No            |                  2 | On Loan: No      |
| Default                  | US Treasury N/B 07/15/2027 4.375%                         | CUSIP: 91282CKZ3<br>LEI: N/A | Long             | DBT              | UST               | US        |   1800000 | PA      | $1823905.80   | 0.51%             | 2027-07-15      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| Default                  | US Treasury N/B 06/30/2026 4.625%                         | CUSIP: 91282CKY6<br>LEI: N/A | Long             | DBT              | UST               | US        |   4000000 | PA      | $4020756.00   | 1.11%             | 2026-06-30      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| Default                  | TREASURY 08/31/2026 3.75%                                 | CUSIP: 91282CLH2<br>LEI: N/A | Long             | DBT              | UST               | US        |  62000000 | PA      | $62066712.00  | 17.19%            | 2026-08-31      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| Default                  | Fannie Mae-CAS 10/25/2041 VAR%                            | CUSIP: 20754RAF3<br>LEI: N/A | Long             | ABS-MBS          | CORP              | US        |   2100000 | PA      | $2133774.30   | 0.59%             | 2041-10-25      | Floating      | 6.97%                 | No            |                  2 | On Loan: No      |
| Default                  | Voya CLO Ltd 10/15/2037 VAR% 144A                         | CUSIP: 92944YAA9<br>LEI: N/A | Long             | ABS-MBS          | CORP              | US        |   1375000 | PA      | $1375137.50   | 0.38%             | 2037-10-15      | Floating      | 5.10%                 | No            |                  2 | On Loan: No      |
| Default                  | Carvana Auto Rec Trust 01/10/2031 4.74%                   | CUSIP: 146919AF2<br>LEI: N/A | Long             | ABS-MBS          | CORP              | US        |    550000 | PA      | $547415.00    | 0.15%             | 2031-01-10      | Fixed         | 4.74%                 | No            |                  2 | On Loan: No      |
| Default                  | PEAC Solutions Rec 10/20/2031 4.65%144A                   | CUSIP: 69392BAC0<br>LEI: N/A | Long             | ABS-MBS          | CORP              | US        |    550000 | PA      | $553234.00    | 0.15%             | 2031-10-20      | Fixed         | 4.65%                 | No            |                  2 | On Loan: No      |
| Default                  | Polus Capital Management 10/20/2037 VAR% 144A             | CUSIP: 73163EAA7<br>LEI: N/A | Long             | ABS-MBS          | CORP              | US        |   1100000 | PA      | $926871.58    | 0.26%             | 2037-10-20      | Floating      | 5.13%                 | No            |                  2 | On Loan: No      |
| Default                  | Gov. National Mortgage 11/20/2051 3.00%                   | CUSIP: 38383DP36<br>LEI: N/A | Long             | ABS-MBS          | CORP              | US        |  11929408 | PA      | $1635296.99   | 0.45%             | 2051-11-20      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Default                  | Freddie Mac 04/25/2029 VAR%                               | CUSIP: 3137G0LU1<br>LEI: N/A | Long             | DBT              | USGSE             | US        |    468789 | PA      | $159475.37    | 0.04%             | 2029-04-25      | Floating      | 7.89%                 | No            |                  2 | On Loan: No      |
| Default                  | Voya CLO Ltd 10/18/2031 VAR% 144A                         | CUSIP: 92916XAL1<br>LEI: N/A | Long             | ABS-MBS          | CORP              | US        |    901310 | PA      | $907889.56    | 0.25%             | 2031-10-18      | Floating      | 5.85%                 | No            |                  2 | On Loan: No      |
| Default                  | Saratoga Invest Corp 04/20/2033 Var% 144A                 | CUSIP: 80349BBF3<br>LEI: N/A | Long             | ABS-MBS          | CORP              | US        |    550000 | PA      | $557425.00    | 0.15%             | 2033-04-20      | Floating      | 5.95%                 | No            |                  2 | On Loan: No      |
| Default                  | Freddie Mac 01/25/2042 VAR% 144A                          | CUSIP: 35564KPV5<br>LEI: N/A | Long             | DBT              | USGSE             | US        |    720000 | PA      | $724544.64    | 0.20%             | 2042-01-25      | Floating      | 5.72%                 | No            |                  2 | On Loan: No      |
| Default                  | Upstart Securitization 06/20/2033 7.92% 144A              | CUSIP: 91683VAB0<br>LEI: N/A | Long             | ABS-MBS          | CORP              | US        |    550000 | PA      | $213877.93    | 0.06%             | 2033-06-20      | Fixed         | 7.92%                 | No            |                  2 | On Loan: No      |
| Default                  | US TREASURY N/B 11/15/2027 4.125%                         | CUSIP: 91282CLX7<br>LEI: N/A | Long             | DBT              | UST               | US        |   3305800 | PA      | $3343505.95   | 0.93%             | 2027-11-15      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| Default                  | US Treasury 11/30/2026 4.25%                              | CUSIP: 91282CLY5<br>LEI: N/A | Long             | DBT              | UST               | US        |    714700 | PA      | $719078.25    | 0.20%             | 2026-11-30      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| Default                  | Fannie Mae- Cas 03/25/2042 VAR% 144A                      | CUSIP: 20753XAB0<br>LEI: N/A | Long             | DBT              | USGSE             | US        |   4920000 | PA      | $5052692.40   | 1.40%             | 2042-03-25      | Floating      | 7.37%                 | No            |                  2 | On Loan: No      |
| Default                  | US Treasury N/B 12/15/2027 4.00%                          | CUSIP: 91282CMB4<br>LEI: N/A | Long             | DBT              | UST               | US        |   1655600 | PA      | $1671639.45   | 0.46%             | 2027-12-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Default                  | Freddie Mac-Star 05/25/2044 Var%                          | CUSIP: 35564NCX9<br>LEI: N/A | Long             | ABS-MBS          | CORP              | US        |    916000 | PA      | $511240.38    | 0.14%             | 2044-05-25      | Floating      | 5.07%                 | No            |                  2 | On Loan: No      |
| Default                  | Venture CDO Ltd  10/20/2034 VAR% 144A                     | CUSIP: 92331DBL1<br>LEI: N/A | Long             | ABS-MBS          | CORP              | US        |    560000 | PA      | $557480.00    | 0.15%             | 2034-10-20      | Floating      | 5.33%                 | No            |                  2 | On Loan: No      |
| Default                  | Fannie Mae Cas 02/25/20244 VAR% 144A                      | CUSIP: 20754GAE0<br>LEI: N/A | Long             | DBT              | USGSE             | US        |   2035000 | PA      | $2045787.54   | 0.57%             | 2044-02-25      | Floating      | 5.67%                 | No            |                  2 | On Loan: No      |
| Default                  | Freddie Mac Stacr 06/25/2043 VAR% 144A                    | CUSIP: 35564K2G3<br>LEI: N/A | Long             | DBT              | USGSE             | US        |   2750000 | PA      | $2834801.75   | 0.79%             | 2043-06-25      | Floating      | 7.22%                 | No            |                  2 | On Loan: No      |
| Default                  | Freddie Mac Stacr 05/25/2044 VAR% 144A                    | CUSIP: 35564NDA8<br>LEI: N/A | Long             | DBT              | USGSE             | US        |   1100000 | PA      | $1105159.00   | 0.31%             | 2044-05-25      | Floating      | 5.57%                 | No            |                  2 | On Loan: No      |
| Default                  | Freddie Mac STACR 08/25/2044 VAR% 144A                    | CUSIP: 35564NEC3<br>LEI: N/A | Long             | ABS-MBS          | CORP              | US        |   2620000 | PA      | $2634750.60   | 0.73%             | 2044-08-25      | Floating      | 5.67%                 | No            |                  2 | On Loan: No      |
| Default                  | NGC Ltd 04/20/2038 VAR% 144A                              | CUSIP: 652942AA1<br>LEI: N/A | Long             | ABS-MBS          | CORP              | US        |   1120000 | PA      | $1120112.00   | 0.31%             | 2038-04-20      | Floating      | 5.08%                 | No            |                  2 | On Loan: No      |
| Default                  | Freddie Mac STACR 05/25/2042 VAR% 144A                    | CUSIP: 35564KWT2<br>LEI: N/A | Long             | DBT              | USGSE             | US        |   2870000 | PA      | $2961495.60   | 0.82%             | 2042-05-25      | Floating      | 7.22%                 | No            |                  2 | On Loan: No      |
| Default                  | US Treasury N/B 12/31/2026 4.25%                          | CUSIP: 91282CME8<br>LEI: N/A | Long             | DBT              | UST               | US        |   5312000 | PA      | $5349056.51   | 1.48%             | 2026-12-31      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| Default                  | GLS Auto Rec 10/15/2027 2.48% 144A                        | CUSIP: 36263DAD9<br>LEI: N/A | Long             | ABS-MBS          | CORP              | US        |    675000 | PA      | $314603.12    | 0.09%             | 2027-10-15      | Fixed         | 2.48%                 | No            |                  2 | On Loan: No      |
| Default                  | Chesapeake Funding II 10/15/2035 6.16% 144A               | CUSIP: 165183CZ5<br>LEI: N/A | Long             | ABS-MBS          | CORP              | US        |    153000 | PA      | $54904.47     | 0.02%             | 2035-10-15      | Fixed         | 6.16%                 | No            |                  2 | On Loan: No      |
| Default                  | Fannie Mae 07/25/2044 VAR% 144A                           | CUSIP: 20754XAC7<br>LEI: N/A | Long             | DBT              | USGSE             | US        |   1100000 | PA      | $1103784.00   | 0.31%             | 2044-07-25      | Floating      | 5.57%                 | No            |                  2 | On Loan: No      |
| Default                  | Fannie Mae 07/25/2043 VAR% 144A                           | CUSIP: 20754EAB1<br>LEI: N/A | Long             | DBT              | USGSE             | US        |   1000000 | PA      | $1027699.00   | 0.28%             | 2043-07-25      | Floating      | 6.57%                 | No            |                  2 | On Loan: No      |
| Default                  | Freddie Mac 11/25/2043 VAR% 144A                          | CUSIP: 35564NAA1<br>LEI: N/A | Long             | DBT              | USGSE             | US        |   2200000 | PA      | $2301710.40   | 0.64%             | 2043-11-25      | Floating      | 7.22%                 | No            |                  2 | On Loan: No      |
| Default                  | US Treasury N/B 02/28/2027 4.125%                         | CUSIP: 91282CMP3<br>LEI: N/A | Long             | DBT              | UST               | US        |   5600000 | PA      | $5637626.40   | 1.56%             | 2027-02-28      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| Default                  | Fannie Mae - CAS 05/25/2044 VAR% 144A                     | CUSIP: 20753GAC5<br>LEI: N/A | Long             | DBT              | USGSE             | US        |   1100000 | PA      | $1103443.00   | 0.31%             | 2044-05-25      | Floating      | 5.52%                 | No            |                  2 | On Loan: No      |
| Default                  | Fannie Mae 02/25/2037 1.5000%                             | CUSIP: 31423XPH8<br>LEI: N/A | Long             | DBT              | USGSE             | US        |  13200000 | PA      | $483741.69    | 0.13%             | 2037-02-25      | Fixed         | 1.50%                 | No            |                  2 | On Loan: No      |
| Default                  | Mastec Inc 08/15/2029 6.625% 144A                         | CUSIP: 576323AQ2<br>LEI: N/A | Long             | DBT              | CORP              | US        |    550000 | PA      | $553575.00    | 0.15%             | 2029-08-15      | Fixed         | 6.62%                 | No            |                  2 | On Loan: No      |
| Default                  | Golun Capital Partners 04/25/2034 VAR% 144A               | CUSIP: 38180UAA3<br>LEI: N/A | Long             | ABS-MBS          | CORP              | US        |   1100000 | PA      | $1102420.00   | 0.31%             | 2034-04-25      | Floating      | 5.76%                 | No            |                  2 | On Loan: No      |
| Default                  | Venture Global Lng 04/01/2028 8.125% 144A                 | CUSIP: 92332YAA9<br>LEI: N/A | Long             | DBT              | CORP              | US        |    500000 | PA      | $506452.00    | 0.14%             | 2028-06-01      | Fixed         | 8.12%                 | No            |                  2 | On Loan: No      |
| Default                  | Celanese US Holdings 07/15/2032 6.629%                    | CUSIP: 15089QAP9<br>LEI: N/A | Long             | DBT              | CORP              | US        |    275000 | PA      | $286171.60    | 0.08%             | 2032-07-15      | Fixed         | 6.63%                 | No            |                  2 | On Loan: No      |
| Default                  | Nova Chemicals Corp 06/01/2027 5.25% 144A                 | CUSIP: 66977WAR0<br>LEI: N/A | Long             | DBT              | CORP              | US        |    500000 | PA      | $503058.50    | 0.14%             | 2027-06-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Default                  | Tallgrass NRG PRTNR/FIN 01/15/2028 5.50% 144A             | CUSIP: 87470LAD3<br>LEI: N/A | Long             | DBT              | CORP              | US        |    500000 | PA      | $500269.50    | 0.14%             | 2028-01-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Default                  | CCO HLDGS LLC 06/01/2029 5.375% 144A                      | CUSIP: 1248EPCB7<br>LEI: N/A | Long             | DBT              | CORP              | US        |    275000 | PA      | $271898.00    | 0.08%             | 2029-06-01      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| Default                  | Ally Financial Inc Perpetual                              | CUSIP: 02005NBM1<br>LEI: N/A | Long             | DBT              | CORP              | US        |    275000 | PA      | $272205.18    | 0.08%             | 2057-08-15      | Fixed         | 4.70%                 | No            |                  2 | On Loan: No      |
| Default                  | GLS Auto Receivables 04/17/2028 6.15% 144A                | CUSIP: 36265NAE3<br>LEI: N/A | Long             | ABS-MBS          | CORP              | US        |   1600000 | PA      | $1207025.09   | 0.33%             | 2028-04-17      | Fixed         | 6.15%                 | No            |                  2 | On Loan: No      |
| Default                  | US TREASURY N/B 04/30/2027 3.75%                          | CUSIP: 91282CMY4<br>LEI: N/A | Long             | DBT              | UST               | US        |   3900000 | PA      | $3912187.50   | 1.08%             | 2027-04-30      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| Default                  | Brean Asset Backed 05/25/2065 4.7500% 144A                | CUSIP: 10638GAG8<br>LEI: N/A | Long             | DBT              | UST               | US        |    336000 | PA      | $268126.22    | 0.07%             | 2065-05-25      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| Default                  | Avis Budget Rental Car 08/20/2031 6.24% 144A              | CUSIP: 05377RKS2<br>LEI: N/A | Long             | ABS-MBS          | CORP              | US        |    100000 | PA      | $103612.10    | 0.03%             | 2031-08-20      | Fixed         | 6.24%                 | No            |                  2 | On Loan: No      |
| Default                  | Avis Budget Rental Car 08/20/2029 5.87% 144A              | CUSIP: 05377RKN3<br>LEI: N/A | Long             | ABS-MBS          | CORP              | US        |    140000 | PA      | $142746.38    | 0.04%             | 2029-08-20      | Fixed         | 5.87%                 | No            |                  2 | On Loan: No      |
| Default                  | Switch ABS Issuer 06/25/2054 6.20% 144A                   | CUSIP: 871044AG8<br>LEI: N/A | Long             | ABS-MBS          | CORP              | US        |    550000 | PA      | $554123.35    | 0.15%             | 2054-06-25      | Fixed         | 6.20%                 | No            |                  2 | On Loan: No      |
| Default                  | BreanAsset Backed Sec 01/25/2065 5.0000% 144A             | CUSIP: 10638FAC9<br>LEI: N/A | Long             | ABS-MBS          | CORP              | US        |    412500 | PA      | $404436.45    | 0.11%             | 2065-01-25      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Default                  | Sofi Consumer Loan Pro 06/25/2034 4.82% 144A              | CUSIP: 83407HAA5<br>LEI: N/A | Long             | ABS-MBS          | CORP              | US        |    550000 | PA      | $335756.91    | 0.09%             | 2034-06-25      | Fixed         | 4.82%                 | No            |                  2 | On Loan: No      |
| Default                  | Tricolor Auto 01/16/2029 5.12%                            | CUSIP: 89617QAA8<br>LEI: N/A | Long             | ABS-MBS          | CORP              | US        |   1100000 | PA      | $671334.59    | 0.19%             | 2029-01-16      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| Default                  | Crossroads Asset Trusts 08/20/2032 8.32% 144A             | CUSIP: 22767VAF5<br>LEI: N/A | Long             | ABS-MBS          | CORP              | US        |    275000 | PA      | $278825.53    | 0.08%             | 2032-08-20      | Fixed         | 8.32%                 | No            |                  2 | On Loan: No      |
| Default                  | Lendbuzz Sec 05/15/2030 5.18% 144A                        | CUSIP: 52611JAB6<br>LEI: N/A | Long             | ABS-MBS          | CORP              | US        |   1100000 | PA      | $1083158.92   | 0.30%             | 2030-05-15      | Fixed         | 5.18%                 | No            |                  2 | On Loan: No      |
| Default                  | Nissan Motor Acc  03/09/2028 2.75% 144A                   | CUSIP: 654740BT5<br>LEI: N/A | Long             | DBT              | CORP              | US        |    350000 | PA      | $332556.70    | 0.09%             | 2028-03-09      | Fixed         | 2.75%                 | No            |                  2 | On Loan: No      |
| Default                  | Hecla Mining CO 02/15/2028 7.25%                          | CUSIP: 422704AH9<br>LEI: N/A | Long             | DBT              | CORP              | US        |    194000 | PA      | $195221.81    | 0.05%             | 2028-02-15      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| Default                  | Constellium SE 06/15/2028 5.625% 144A                     | CUSIP: 21039CAA2<br>LEI: N/A | Long             | DBT              | CORP              | US        |    350000 | PA      | $349949.95    | 0.10%             | 2028-06-15      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| Default                  | Oceaneering Intl Inc 02/01/2028 6.00%                     | CUSIP: 675232AB8<br>LEI: N/A | Long             | DBT              | CORP              | US        |    350000 | PA      | $353929.10    | 0.10%             | 2028-02-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Default                  | Flagship Credit Auto 09/15/2028 3.16% 144A                | CUSIP: 33844WAJ9<br>LEI: N/A | Long             | ABS-MBS          | CORP              | US        |   1150000 | PA      | $1114897.40   | 0.31%             | 2028-09-15      | Fixed         | 3.16%                 | No            |                  2 | On Loan: No      |
| Default                  | DT Auto Owner Trust 03/15/2029 5.53% 144A                 | CUSIP: 23345YAJ0<br>LEI: N/A | Long             | ABS-MBS          | CORP              | US        |   1000000 | PA      | $999285.00    | 0.28%             | 2029-03-15      | Fixed         | 5.53%                 | No            |                  2 | On Loan: No      |
| Default                  | Q0RV0 Inc 04/01/2031 3.375% 144A                          | CUSIP: 74736KAJ0<br>LEI: N/A | Long             | DBT              | CORP              | US        |   1213000 | PA      | $1122199.68   | 0.31%             | 2031-04-01      | Fixed         | 3.38%                 | No            |                  2 | On Loan: No      |
| Default                  | Ford Holdings LLC 03/01/2030 9.30%                        | CUSIP: 345277AE7<br>LEI: N/A | Long             | DBT              | CORP              | US        |    990000 | PA      | $1122048.18   | 0.31%             | 2030-03-01      | Fixed         | 9.30%                 | No            |                  2 | On Loan: No      |
| Default                  | Freddie Mac Stacr 03/25/2052 VAR% 144A                    | CUSIP: 35564KL49<br>LEI: N/A | Long             | DBT              | USGSE             | US        |   1165415 | PA      | $1241528.25   | 0.34%             | 2052-03-25      | Floating      | 8.87%                 | No            |                  2 | On Loan: No      |
| Default                  | Freddie Mac Stacr 09/25/2042 VAR% 144A                    | CUSIP: 35564KH44<br>LEI: N/A | Long             | DBT              | USGSE             | US        |   2671000 | PA      | $2786200.23   | 0.77%             | 2042-09-25      | Floating      | 7.57%                 | No            |                  2 | On Loan: No      |
| Default                  | Fannie Mae - CAS 04/25/2043 VAR% 144A                     | CUSIP: 20753AAA2<br>LEI: N/A | Long             | DBT              | USGSE             | US        |   2355000 | PA      | $2476294.28   | 0.69%             | 2043-04-25      | Floating      | 7.77%                 | No            |                  2 | On Loan: No      |
| Default                  | Freddie Mac Stacr 03/25/2044 VAR%                         | CUSIP: 35564NBX0<br>LEI: N/A | Long             | DBT              | USGSE             | US        |    375000 | PA      | $140636.17    | 0.04%             | 2044-03-25      | Floating      | 5.12%                 | No            |                  2 | On Loan: No      |
| Default                  | Freddie Mac Stacr 04/25/2043 VAR%                         | CUSIP: 35564KT66<br>LEI: N/A | Long             | DBT              | USGSE             | US        |   1545000 | PA      | $1607405.64   | 0.45%             | 2043-04-25      | Floating      | 7.12%                 | No            |                  2 | On Loan: No      |
| Default                  | Freddie Mac Stacr 05/25/2043 VAR% 144A                    | CUSIP: 35564KX87<br>LEI: N/A | Long             | DBT              | USGSE             | US        |   1100000 | PA      | $1152149.90   | 0.32%             | 2043-05-25      | Floating      | 7.37%                 | No            |                  2 | On Loan: No      |
| Default                  | Freddie Mac 05/25/2045 VAR% 144A                          | CUSIP: 35564NHZ9<br>LEI: N/A | Long             | DBT              | USGSE             | US        |   1100000 | PA      | $706901.33    | 0.20%             | 2045-05-25      | Floating      | 5.07%                 | No            |                  2 | On Loan: No      |
| Default                  | Fannie Mae 06/25/2042 VAR% 144A                           | CUSIP: 20754MCB1<br>LEI: N/A | Long             | DBT              | USGSE             | US        |    950000 | PA      | $998255.25    | 0.28%             | 2042-06-25      | Floating      | 8.52%                 | No            |                  2 | On Loan: No      |
| Default                  | Fannie Mae- Cas 12/25/2041 VAR% 144A                      | CUSIP: 20754LAF6<br>LEI: N/A | Long             | DBT              | USGSE             | US        |   1900000 | PA      | $1935737.10   | 0.54%             | 2041-12-25      | Floating      | 7.02%                 | No            |                  2 | On Loan: No      |
| Default                  | Fannie Mae - CAS 03/25/2042 VAR% 144A                     | CUSIP: 20753YCK6<br>LEI: N/A | Long             | DBT              | USGSE             | US        |   1000000 | PA      | $1024220.00   | 0.28%             | 2042-03-25      | Floating      | 6.97%                 | No            |                  2 | On Loan: No      |
| Default                  | Fannie Mae - CAS 12/25/2042 VAR% 144A                     | CUSIP: 207932AB0<br>LEI: N/A | Long             | DBT              | USGSE             | US        |   1230000 | PA      | $1284683.34   | 0.36%             | 2042-12-25      | Floating      | 7.62%                 | No            |                  2 | On Loan: No      |
| Default                  | Freddie Mac Stacr 05/25/2044 VAR% 144A                    | CUSIP: 35564NCW1<br>LEI: N/A | Long             | DBT              | USGSE             | US        |   1400000 | PA      | $1171712.21   | 0.32%             | 2044-05-25      | Floating      | 5.12%                 | No            |                  2 | On Loan: No      |
| Default                  | GLS Auto Rec Trust 05/15/2029 5.64% 144A                  | CUSIP: 36263XAJ2<br>LEI: N/A | Long             | ABS-MBS          | CORP              | US        |    500000 | PA      | $502357.00    | 0.14%             | 2029-05-15      | Fixed         | 5.64%                 | No            |                  2 | On Loan: No      |
| Default                  | Freddie Mac 05/25/2042 VAR% 144A                          | CUSIP: 35564KXA2<br>LEI: N/A | Long             | DBT              | USGSE             | US        |    478188 | PA      | $504892.41    | 0.14%             | 2042-05-25      | Floating      | 9.12%                 | No            |                  2 | On Loan: No      |
| Default                  | Arivo Acceptance Auto 02/15/2029 7.700% 144A              | CUSIP: 04047JAB1<br>LEI: N/A | Long             | ABS-MBS          | CORP              | US        |    825000 | PA      | $848354.10    | 0.23%             | 2029-02-15      | Fixed         | 7.70%                 | No            |                  2 | On Loan: No      |
| Default                  | Fannie Mae Cas 07/25/2045 VAR% 144A                       | CUSIP: 20753CAC4<br>LEI: N/A | Long             | DBT              | USGSE             | US        |   1550000 | PA      | $1555332.00   | 0.43%             | 2045-07-25      | Floating      | 5.47%                 | No            |                  2 | On Loan: No      |
| Default                  | Freddie Mac 08/25/2044 VAR% 144A                          | CUSIP: 35564NDY6<br>LEI: N/A | Long             | DBT              | USGSE             | US        |   1650000 | PA      | $1382331.49   | 0.38%             | 2044-08-25      | Floating      | 5.12%                 | No            |                  2 | On Loan: No      |
| Default                  | Fannie Mae 01/25/2044 VAR% 144A                           | CUSIP: 20753UAB6<br>LEI: N/A | Long             | DBT              | USGSE             | US        |   1100000 | PA      | $1106338.20   | 0.31%             | 2044-01-25      | Floating      | 5.67%                 | No            |                  2 | On Loan: No      |
| Default                  | Freddie Mac 10/25/2044 VAR% 144A                          | CUSIP: 35564NFA6<br>LEI: N/A | Long             | DBT              | USGSE             | US        |   1100000 | PA      | $1099318.00   | 0.30%             | 2044-10-25      | Floating      | 5.32%                 | No            |                  2 | On Loan: No      |
| Default                  | Freddie Mac 02/25/2045 VAR% 144A                          | CUSIP: 35564NGZ0<br>LEI: N/A | Long             | DBT              | USGSE             | US        |   1170000 | PA      | $727460.63    | 0.20%             | 2045-02-25      | Floating      | 5.02%                 | No            |                  2 | On Loan: No      |
| Default                  | Bridgecrest Lending Au 10/16/2028 5.370%                  | CUSIP: 10805NAD7<br>LEI: N/A | Long             | ABS-MBS          | CORP              | US        |   1650000 | PA      | $1658175.75   | 0.46%             | 2028-10-16      | Fixed         | 5.37%                 | No            |                  2 | On Loan: No      |
| Default                  | Flagship Credit Auto 07/16/2029 5.6400% 144A              | CUSIP: 33846BAG9<br>LEI: N/A | Long             | ABS-MBS          | CORP              | US        |   1650000 | PA      | $1654598.55   | 0.46%             | 2029-07-16      | Fixed         | 5.64%                 | No            |                  2 | On Loan: No      |
| Default                  | BreanAsset Backed Sec 07/25/2065 4.50% 144A               | CUSIP: 10638KAE4<br>LEI: N/A | Long             | ABS-MBS          | CORP              | US        |    578000 | PA      | $512759.79    | 0.14%             | 2065-07-25      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Default                  | Freddie Mac Stacr 03/25/2042 VAR% 144A                    | CUSIP: 35564KTA7<br>LEI: N/A | Long             | DBT              | USGSE             | US        |   5235000 | PA      | $588423.80    | 0.16%             | 2042-03-25      | Floating      | 5.97%                 | No            |                  2 | On Loan: No      |
| Default                  | Fannie Mae 12/25/2041 VAR% 144A                           | CUSIP: 20754LAJ8<br>LEI: N/A | Long             | DBT              | USGSE             | US        |   1100000 | PA      | $1139875.00   | 0.32%             | 2041-12-25      | Floating      | 9.87%                 | No            |                  2 | On Loan: No      |
| Default                  | Helmerich & Payne Inc 12/01/2029 4.85% 144A               | CUSIP: 423452AM3<br>LEI: N/A | Long             | DBT              | CORP              | US        |   1100000 | PA      | $1107173.10   | 0.31%             | 2029-12-01      | Fixed         | 4.85%                 | No            |                  2 | On Loan: No      |
| Default                  | GS Mortgage-Backed Sec 10/25/2055 Var% 144A               | CUSIP: 36272NAA2<br>LEI: N/A | Long             | ABS-MBS          | CORP              | US        |    275000 | PA      | $244642.03    | 0.07%             | 2055-10-25      | Floating      | 5.42%                 | No            |                  2 | On Loan: No      |
| Default                  | Space Coast Credit 11/15/2028 4.67% 144A                  | CUSIP: 80620BAB3<br>LEI: N/A | Long             | ABS-MBS          | CORP              | US        |    550000 | PA      | $535115.25    | 0.15%             | 2028-11-15      | Fixed         | 4.67%                 | No            |                  2 | On Loan: No      |
| Default                  | US Treasury 07/31/2027 3.875%                             | CUSIP: 91282CNP2<br>LEI: N/A | Long             | DBT              | UST               | US        |   5000000 | PA      | $5029100.00   | 1.39%             | 2027-07-31      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| Default                  | Freddie Mac 05/25/2048 VAR%                               | CUSIP: 3137G1CT2<br>LEI: N/A | Long             | DBT              | USGSE             | US        |  28617180 | PA      | $409485.78    | 0.11%             | 2048-05-25      | Floating      | 3.85%                 | No            |                  2 | On Loan: No      |
| Default                  | MPLX LP 02/15/2031 4.8000%                                | CUSIP: 55336VCA6<br>LEI: N/A | Long             | DBT              | CORP              | US        |    550000 | PA      | $555775.55    | 0.15%             | 2031-02-15      | Fixed         | 4.80%                 | No            |                  2 | On Loan: No      |
| Default                  | Freddie Mac 05/25/2048 VAR% 144A                          | CUSIP: 3137G1CV7<br>LEI: N/A | Long             | DBT              | USGSE             | US        |   7710000 | PA      | $220645.48    | 0.06%             | 2048-05-25      | Floating      | 3.85%                 | No            |                  2 | On Loan: No      |
| Default                  | Freddie Mac 02/25/2048 VAR% 144A                          | CUSIP: 3137G1CL9<br>LEI: N/A | Long             | DBT              | USGSE             | US        |   8255000 | PA      | $148947.31    | 0.04%             | 2048-02-25      | Floating      | 3.78%                 | No            |                  2 | On Loan: No      |
| Default                  | Fannie Mae - CAS 12/25/2041 VAR% 144A                     | CUSIP: 20754AAA1<br>LEI: N/A | Long             | DBT              | USGSE             | US        |    307551 | PA      | $10341.45     | 0.00%             | 2041-12-25      | Floating      | 4.72%                 | No            |                  2 | On Loan: No      |
| Default                  | Fannie Mae - CAS 03/25/2045 VAR% 144A                     | CUSIP: 20754VAC1<br>LEI: N/A | Long             | DBT              | USGSE             | US        |   1100000 | PA      | $1116078.70   | 0.31%             | 2045-03-25      | Floating      | 6.12%                 | No            |                  2 | On Loan: No      |
| Default                  | EQT Corp 04/01/2029 6.3750% 144A                          | CUSIP: 26884LAZ2<br>LEI: N/A | Long             | DBT              | CORP              | US        |   1120000 | PA      | $1158954.72   | 0.32%             | 2029-04-01      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| Default                  | Greensky Home Imp 06/25/2060 4.9300% 144A                 | CUSIP: 39571VAB4<br>LEI: N/A | Long             | ABS-MBS          | CORP              | US        |    275000 | PA      | $207249.88    | 0.06%             | 2060-06-25      | Fixed         | 4.93%                 | No            |                  2 | On Loan: No      |
| Default                  | BGC GROUP INC 04/02/2030 6.1500% 144A                     | CUSIP: 05555LAD3<br>LEI: N/A | Long             | DBT              | CORP              | US        |   1100000 | PA      | $1138988.40   | 0.32%             | 2030-04-02      | Fixed         | 6.15%                 | No            |                  2 | On Loan: No      |
| Default                  | Multifamily Structured 11/25/2045 Var% 144A               | CUSIP: 355913AA2<br>LEI: N/A | Long             | ABS-MBS          | CORP              | US        |    600000 | PA      | $600030.60    | 0.17%             | 2045-11-25      | Floating      | 5.62%                 | No            |                  2 | On Loan: No      |
| Default                  | MOO Securitization Trus 12/25/2065 4.50% 144A             | CUSIP: 614872AA7<br>LEI: N/A | Long             | ABS-MBS          | CORP              | US        |     99000 | PA      | $92376.90     | 0.03%             | 2065-12-25      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2026-01-30

**Name of Applicant:** World Funds Trust

**Signature:** Ann MacDonald

**Name of Signer:** Ann MacDonald

**Title:** Principal Financial Officer