# EDGAR Filing Document

**Accession Number:** 0000038721
**File Stem:** 0002071691-26-012207
**Filing Date:** 2026-5
**Character Count:** 262120
**Document Hash:** 62ec64ceaf926cda64835082c0f49f63
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0002071691-26-012207.hdr.sgml**: 20260527

**ACCESSION NUMBER**: 0002071691-26-012207

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20260331

**FILED AS OF DATE**: 20260527

**DATE AS OF CHANGE**: 20260527

**PERIOD START**: 20260930

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Franklin Custodian Funds
- **CENTRAL INDEX KEY:** 0000038721

**ORGANIZATION NAME:**
- **EIN:** 132573775
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 0930

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-00537
- **FILM NUMBER:** 261024560

**BUSINESS ADDRESS:**
- **STREET 1:** ONE FRANKLIN PARKWAY
- **CITY:** SAN MATEO
- **STATE:** CA
- **ZIP:** 94403-1906
- **BUSINESS PHONE:** 650-312-2000

**MAIL ADDRESS:**
- **STREET 1:** ONE FRANKLIN PARKWAY
- **CITY:** SAN MATEO
- **STATE:** CA
- **ZIP:** 94403-1906

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** FRANKLIN CUSTODIAN FUNDS
- **DATE OF NAME CHANGE:** 20080128

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** FRANKLIN CUSTODIAN FUNDS INC
- **DATE OF NAME CHANGE:** 19920703

## Series and Classes Contracts Data

### FRANKLIN INCOME FUND (Series ID: S000006756)

| Class ID   | Class Name    | Ticker Symbol   |
|:---|:---|:---|
| C000018329 | Class A1      | FKINX           |
| C000018332 | Class C       | FCISX           |
| C000018333 | Advisor Class | FRIAX           |
| C000018334 | Class R       | FISRX           |
| C000128787 | Class R6      | FNCFX           |
| C000199719 | Class A       | FKIQX           |

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** Franklin Custodian Funds

- **b. Investment Company Act file number:** 811-00537

- **c. CIK number of Registrant:** 0000038721

- **d. LEI of Registrant:** 549300PYEMTLTOE2MK86

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

  - **Street Address 1:** One Franklin Parkway

  - **City:** San Mateo

  - **State:** CA

  - **Foreign country:** US

  - **Zip / Postal Code:** 94403-1906

  - **Telephone number:** 650-312-2000

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

- **a. Name of Series:** Franklin Income Fund

- **b. EDGAR series identifier (if any):** S000006756

- **c. LEI of Series:** 2I64NSETYA60QJ4H0C97

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

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

- **b. Date as of which information is reported:** 2026-03-31

**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:** $79575297074.75

**Total Liabilities:** $945062131.50

**Net Assets:** $78630234943.25

**Delayed Delivery Securities:** $637947177.54

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** -38165.34000000 | **1-Year:** -405476.52000000 | **5-Year:** -2983713.33000000 | **10-Year:** -3711716.32000000 | **30-Year:** -5402347.42000000

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

- **3-Month:** -298.80000000 | **1-Year:** -587096.30000000 | **5-Year:** -3133019.94000000 | **10-Year:** -1051272.96000000 | **30-Year:** -143653.06000000

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000018334 | 2.91%                | 2.04%                | -1.96%               |
| Class ID C000199719 | 2.86%                | 2.01%                | -1.89%               |
| Class ID C000128787 | 2.89%                | 1.64%                | -1.88%               |
| Class ID C000018333 | 2.91%                | 2.05%                | -1.89%               |
| Class ID C000018332 | 2.76%                | 1.93%                | -1.89%               |
| Class ID C000018329 | 2.86%                | 2.01%                | -1.88%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $504567408.60            | $1471900506.83                             |
| Month 2  | $531076899.09            | $918973002.91                              |
| Month 3  | $-86395303.13            | $-1672733369.45                            |

**Designated Index Information**

- **Index Name:** Custom Blend: 50% US High Div Yield + 25% High Yield Very Liquid + 25% US Agg Index

- **Index Identifier:** HB10288

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Bombardier, Inc.                                                                    | Bombardier, Inc.                                                                                  | CUSIP: 097751CB5<br>LEI: W7L3VLU8EHQY34Z36697 | Long             | DBT              | CORP              | CA        |   40000000 | PA      | $41966680.00   | 0.05%             | 2031-07-01      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| BNP Paribas Issuance BV into Accenture plc                                          | BNP Paribas Issuance BV into Accenture plc                                                        | CUSIP: N/A<br>LEI: 7245009UXRIGIRYOBR48       | Long             | SN               | CORP              | NL        |     935000 | NS      | $186638493.94  | 0.24%             | 2027-03-15      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| FHLMC Pool                                                                          | FHLMC Pool, 30 Year                                                                               | CUSIP: 3142J6BU6<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |  101958180 | PA      | $104012067.38  | 0.13%             | 2055-09-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| UBS AG into Abbott Laboratories                                                     | UBS AG into Abbott Laboratories                                                                   | CUSIP: 90304M535<br>LEI: BFM8T61CT2L1QCEMIK50 | Long             | SN               | CORP              | CH        |    2100000 | NS      | $216817195.56  | 0.28%             | 2027-04-12      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| Shell plc                                                                           | Shell plc                                                                                         | CUSIP: 780259305<br>LEI: 21380068P1DRHMJ8KU70 | Long             | EC               | CORP              | GB        |    4500000 | NS      | $418500000.00  | 0.53%             |  |  |  | No            |                  1 | On Loan: No      |
| Occidental Petroleum Corp.                                                          | Occidental Petroleum Corp.                                                                        | CUSIP: 674599EF8<br>LEI: IM7X0T3ECJW4C1T7ON55 | Long             | DBT              | CORP              | US        |   52000000 | PA      | $54349100.00   | 0.07%             | 2031-01-01      | Fixed         | 6.12%                 | No            |                  2 | On Loan: No      |
| Five Corners Funding Trust III                                                      | Five Corners Funding Trust III                                                                    | CUSIP: 33830GAA9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   30000000 | PA      | $30961434.60   | 0.04%             | 2033-02-15      | Fixed         | 5.79%                 | No            |                  2 | On Loan: No      |
| Wells Fargo Bank NA into Schlumberger NV                                            | Wells Fargo Bank NA into Schlumberger NV                                                          | CUSIP: N/A<br>LEI: N/A                        | Long             | SN               | CORP              | US        |    8600000 | NS      | $353345916.10  | 0.45%             | 2026-10-02      | Fixed         | 9.00%                 | No            |                  2 | On Loan: No      |
| NextEra Energy, Inc.                                                                | NextEra Energy, Inc.                                                                              | CUSIP: 65339F663<br>LEI: 254900RHL9MEUS5NKX63 | Long             | EP               | CORP              | US        |    3500000 | NS      | $195930000.00  | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| CHS/Community Health Systems, Inc.                                                  | CHS/Community Health Systems, Inc.                                                                | CUSIP: 12543DBN9<br>LEI: 5493007X5NC5XI1BB106 | Long             | DBT              | CORP              | US        |  459992000 | PA      | $494082467.11  | 0.63%             | 2032-01-15      | Fixed         | 10.88%                | No            |                  2 | On Loan: No      |
| CCO Holdings LLC / CCO Holdings Capital Corp.                                       | CCO Holdings LLC / CCO Holdings Capital Corp.                                                     | CUSIP: 1248EPBX0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  165700000 | PA      | $164439917.78  | 0.21%             | 2028-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| U.S. Treasury Bills                                                                 | U.S. Treasury Bills                                                                               | CUSIP: 912797TK3<br>LEI: 254900HROIFWPRGM1V77 | Long             | STIV             | UST               | US        |  250000000 | PA      | $249320217.50  | 0.32%             | 2026-04-28      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| BlackRock, Inc.                                                                     | BlackRock, Inc.                                                                                   | CUSIP: 09290D101<br>LEI: 529900VBK42Y5HHRMD23 | Long             | EC               | CORP              | US        |     200000 | NS      | $192342000.00  | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| Discovery Global Holdings, Inc.                                                     | Discovery Global Holdings, Inc.                                                                   | CUSIP: 55903VBW2<br>LEI: 549300DXR29GD4N0A520 | Long             | DBT              | CORP              | US        |   33000000 | PA      | $21823088.76   | 0.03%             | 2042-03-15      | Fixed         | 5.05%                 | No            |                  2 | On Loan: No      |
| Calumet Specialty Products Partners LP / Calumet Finance Corp.                      | Calumet Specialty Products Partners LP / Calumet Finance Corp.                                    | CUSIP: 131477BA8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  100000000 | PA      | $106296094.00  | 0.14%             | 2031-02-15      | Fixed         | 9.75%                 | No            |                  2 | On Loan: No      |
| Exxon Mobil Corp.                                                                   | Exxon Mobil Corp.                                                                                 | CUSIP: 30231G102<br>LEI: J3WHBG0MTS7O8ZVMDC91 | Long             | EC               | CORP              | US        |   10000000 | NS      | $1696600000.00 | 2.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Matador Resources Co.                                                               | Matador Resources Co.                                                                             | CUSIP: 576485AF3<br>LEI: 549300CI3Q2UUK5R4G79 | Long             | DBT              | CORP              | US        |   30000000 | PA      | $30585630.00   | 0.04%             | 2028-04-15      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| Wynn Macau Ltd.                                                                     | Wynn Macau Ltd.                                                                                   | CUSIP: 98313RAD8<br>LEI: 254900NMDQ8ENTHU1I31 | Long             | DBT              | CORP              | KY        |   51457000 | PA      | $50985879.26   | 0.06%             | 2027-10-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Celanese US Holdings LLC                                                            | Celanese US Holdings LLC                                                                          | CUSIP: 15089QAM6<br>LEI: CD30XVRLT4QO00B1C706 | Long             | DBT              | CORP              | US        |   40000000 | PA      | $40851960.00   | 0.05%             | 2027-07-15      | Fixed         | 7.17%                 | No            |                  2 | On Loan: No      |
| FHLMC Pool                                                                          | FHLMC Pool, 30 Year                                                                               | CUSIP: 3132DWMY6<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |  226665541 | PA      | $227956001.87  | 0.29%             | 2054-11-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Goldman Sachs Bank USA into Delta Air Lines, Inc.                                   | Goldman Sachs Bank USA into Delta Air Lines, Inc.                                                 | CUSIP: 38152A251<br>LEI: KD3XUN7C6T14HNAYLU02 | Long             | SN               | CORP              | US        |    1600000 | NS      | $103918214.91  | 0.13%             | 2027-03-31      | Fixed         | 11.00%                | No            |                  2 | On Loan: No      |
| American Airlines, Inc. / AAdvantage Loyalty IP Ltd.                                | American Airlines, Inc. / AAdvantage Loyalty IP Ltd.                                              | CUSIP: 00253XAA9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     833333 | PA      | $834483.33     | 0.00%             | 2026-04-20      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Calumet Specialty Products Partners LP / Calumet Finance Corp.                      | Calumet Specialty Products Partners LP / Calumet Finance Corp.                                    | CUSIP: 131477AX9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  140000000 | PA      | $142625000.00  | 0.18%             | 2029-07-15      | Fixed         | 9.25%                 | No            |                  2 | On Loan: No      |
| Rivian Holdings LLC / Rivian LLC / Rivian Automotive LLC                            | Rivian Holdings LLC / Rivian LLC / Rivian Automotive LLC                                          | CUSIP: 76954LAD1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   60000000 | PA      | $58348518.00   | 0.07%             | 2031-01-15      | Fixed         | 10.00%                | No            |                  2 | On Loan: No      |
| N/A                                                                                 | AbbVie, Inc.                                                                                      | CUSIP: 00PC6LUA0<br>LEI: N/A                  | N/A              | DE               |  | US        |      -5000 | NC      | $-2075000.00   | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| Dell International LLC / EMC Corp.                                                  | Dell International LLC / EMC Corp.                                                                | CUSIP: 24703DBL4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   40000000 | PA      | $41595617.60   | 0.05%             | 2033-02-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Pacific Gas and Electric Co.                                                        | Pacific Gas and Electric Co.                                                                      | CUSIP: 694308KM8<br>LEI: 1HNPXZSMMB7HMBMVBS46 | Long             | DBT              | CORP              | US        |   30000000 | PA      | $31857604.50   | 0.04%             | 2033-06-15      | Fixed         | 6.40%                 | No            |                  2 | On Loan: No      |
| Amazon.com, Inc.                                                                    | Amazon.com, Inc.                                                                                  | CUSIP: 023135106<br>LEI: ZXTILKJKG63JELOEG630 | Long             | EC               | CORP              | US        |    1146026 | NS      | $238682835.02  | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| Venture Global LNG, Inc.                                                            | Venture Global LNG, Inc.                                                                          | CUSIP: 92332YAD3<br>LEI: 54930011XLBUWMQUC829 | Long             | DBT              | CORP              | US        |  185000000 | PA      | $198778430.00  | 0.25%             | 2032-02-01      | Fixed         | 9.88%                 | No            |                  2 | On Loan: No      |
| Blackstone Private Credit Fund                                                      | Blackstone Private Credit Fund                                                                    | CUSIP: 09261HBX4<br>LEI: 549300ORP3TTCNXSYO43 | Long             | DBT              | CORP              | US        |   20000000 | PA      | $19407003.00   | 0.02%             | 2032-01-29      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Citigroup Global Markets Holdings, Inc. into Halliburton Co.                        | Citigroup Global Markets Holdings, Inc. into Halliburton Co.                                      | CUSIP: 17333P122<br>LEI: 82VOJDD5PTRDMVVMGV31 | Long             | SN               | CORP              | US        |    8100000 | NS      | $284314195.40  | 0.36%             | 2027-01-21      | Fixed         | 10.00%                | No            |                  2 | On Loan: No      |
| Oracle Corp.                                                                        | Oracle Corp.                                                                                      | CUSIP: 68389XDM4<br>LEI: 1Z4GXXU7ZHVWFCD8TV52 | Long             | DBT              | CORP              | US        |   80000000 | PA      | $75079940.00   | 0.10%             | 2035-09-26      | Fixed         | 5.20%                 | No            |                  2 | On Loan: No      |
| Oracle Corp.                                                                        | Oracle Corp., Series D                                                                            | CUSIP: 68389X204<br>LEI: 1Z4GXXU7ZHVWFCD8TV52 | Long             | EP               | CORP              | US        |    6000000 | NS      | $270060000.00  | 0.34%             |  |  |  | No            |                  1 | On Loan: No      |
| Mizuho Markets Cayman LP into Exxon Mobil Corp.                                     | Mizuho Markets Cayman LP into Exxon Mobil Corp.                                                   | CUSIP: 60701E246<br>LEI: 549300KHUXLS6Q30KT26 | Long             | SN               | CORP              | KY        |    2225000 | NS      | $280842444.34  | 0.36%             | 2026-04-07      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| Philip Morris International, Inc.                                                   | Philip Morris International, Inc.                                                                 | CUSIP: 718172DB2<br>LEI: HL3H1H2BGXWVG3BSWR90 | Long             | DBT              | CORP              | US        |   25000000 | PA      | $25707444.25   | 0.03%             | 2033-02-15      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| Shea Homes LP / Shea Homes Funding Corp.                                            | Shea Homes LP / Shea Homes Funding Corp.                                                          | CUSIP: 82088KAJ7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   40000000 | PA      | $38767412.00   | 0.05%             | 2029-04-01      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| NextEra Energy Capital Holdings, Inc.                                               | NextEra Energy Capital Holdings, Inc.                                                             | CUSIP: 65339KCU2<br>LEI: UMI46YPGBLUE4VGNNT48 | Long             | DBT              | CORP              | US        |   60000000 | PA      | $60766879.20   | 0.08%             | 2034-03-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| NRG Energy, Inc.                                                                    | NRG Energy, Inc.                                                                                  | CUSIP: 629377CY6<br>LEI: 5E2UPK5SW04M13XY7I38 | Long             | DBT              | CORP              | US        |  100000000 | PA      | $99899000.00   | 0.13%             | 2029-07-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Ardagh Group SA                                                                     | Ardagh Group SA                                                                                   | CUSIP: 039959AA9<br>LEI: 6354006L1NWUUOPYX274 | Long             | DBT              | CORP              | LU        |  169278000 | PA      | $177625775.29  | 0.23%             | 2030-12-01      | Fixed         | 9.50%                 | No            |                  2 | On Loan: No      |
| Toronto-Dominion Bank (The) into United Parcel Service, Inc.                        | Toronto-Dominion Bank (The) into United Parcel Service, Inc.                                      | CUSIP: 89112B145<br>LEI: PT3QB789TSUIDF371261 | Long             | SN               | CORP              | CA        |    1380000 | NS      | $136578807.10  | 0.17%             | 2026-08-05      | Fixed         | 10.00%                | No            |                  2 | On Loan: No      |
| Northrop Grumman Corp.                                                              | Northrop Grumman Corp.                                                                            | CUSIP: 666807102<br>LEI: RIMU48P07456QXSO0R61 | Long             | EC               | CORP              | US        |     250000 | NS      | $170560000.00  | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| FNMA                                                                                | FNMA, Series S                                                                                    | CUSIP: 313586752<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | EP               | CORP              | US        |    3000000 | NS      | $35700000.00   | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Toronto-Dominion Bank (The) into Albemarle Corp.                                    | Toronto-Dominion Bank (The) into Albemarle Corp.                                                  | CUSIP: 89112B202<br>LEI: PT3QB789TSUIDF371261 | Long             | SN               | CORP              | CA        |    2680000 | NS      | $400930833.03  | 0.51%             | 2026-12-23      | Fixed         | 15.00%                | No            |                  2 | On Loan: No      |
| Bristol-Myers Squibb Co.                                                            | Bristol-Myers Squibb Co.                                                                          | CUSIP: 110122108<br>LEI: HLYYNH7UQUORYSJQCN42 | Long             | EC               | CORP              | US        |    1000000 | NS      | $60650000.00   | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| CCO Holdings LLC / CCO Holdings Capital Corp.                                       | CCO Holdings LLC / CCO Holdings Capital Corp.                                                     | CUSIP: 1248EPCT8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  185000000 | PA      | $188435222.45  | 0.24%             | 2031-03-01      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| Huntsman International LLC                                                          | Huntsman International LLC                                                                        | CUSIP: 44701QBE1<br>LEI: 3YTEJFW18LGIUQ2N5J61 | Long             | DBT              | CORP              | US        |   40000000 | PA      | $37444162.80   | 0.05%             | 2029-05-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| General Motors Co.                                                                  | General Motors Co.                                                                                | CUSIP: 37045VAZ3<br>LEI: 54930070NSV60J38I987 | Long             | DBT              | CORP              | US        |   25000000 | PA      | $25606374.50   | 0.03%             | 2032-10-15      | Fixed         | 5.60%                 | No            |                  2 | On Loan: No      |
| Merrill Lynch BV into UnitedHealth Group, Inc.                                      | Merrill Lynch BV into UnitedHealth Group, Inc.                                                    | CUSIP: 59028A119<br>LEI: 549300RQ1D1WIE085245 | Long             | SN               | CORP              | NL        |     950000 | NS      | $263570484.35  | 0.34%             | 2026-09-25      | Fixed         | 9.00%                 | No            |                  2 | On Loan: No      |
| BNP Paribas SA into Texas Instruments, Inc.                                         | BNP Paribas SA into Texas Instruments, Inc.                                                       | CUSIP: N/A<br>LEI: R0MUWSFPU8MPRO8K5P83       | Long             | SN               | CORP              | FR        |    1300000 | NS      | $252355401.35  | 0.32%             | 2026-07-01      | Fixed         | 9.00%                 | No            |                  2 | On Loan: No      |
| Royal Bank of Canada into Analog Devices, Inc.                                      | Royal Bank of Canada into Analog Devices, Inc.                                                    | CUSIP: N/A<br>LEI: ES7IP3U3RHIGC71XBU11       | Long             | SN               | CORP              | CA        |     890000 | NS      | $225767842.19  | 0.29%             | 2026-11-16      | Fixed         | 10.00%                | No            |                  2 | On Loan: No      |
| Post Holdings, Inc.                                                                 | Post Holdings, Inc.                                                                               | CUSIP: 737446AU8<br>LEI: JM1I5YUAURL6DC8N1468 | Long             | DBT              | CORP              | US        |   45000000 | PA      | $45521505.00   | 0.06%             | 2032-02-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| Cloud Software Group, Inc.                                                          | Cloud Software Group, Inc.                                                                        | CUSIP: 88632QAE3<br>LEI: 04EEB871XLHVNY4RZJ65 | Long             | DBT              | CORP              | US        |  150000000 | PA      | $146483295.00  | 0.19%             | 2029-03-31      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Blackstone Private Credit Fund                                                      | Blackstone Private Credit Fund                                                                    | CUSIP: 09261HBZ9<br>LEI: 549300ORP3TTCNXSYO43 | Long             | DBT              | CORP              | US        |   30000000 | PA      | $28516299.30   | 0.04%             | 2031-03-12      | Fixed         | 5.35%                 | No            |                  2 | On Loan: No      |
| Calumet Specialty Products Partners LP / Calumet Finance Corp.                      | Calumet Specialty Products Partners LP / Calumet Finance Corp.                                    | CUSIP: 131477AW1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   73565000 | PA      | $76303457.13   | 0.10%             | 2028-07-15      | Fixed         | 9.75%                 | No            |                  2 | On Loan: No      |
| GNMA                                                                                | GNMA II, Single-family, 30 Year                                                                   | CUSIP: 3618N5PJ2<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |  113358081 | PA      | $114295796.01  | 0.15%             | 2055-06-20      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Organon & Co. / Organon Foreign Debt Co-Issuer BV                                   | Organon & Co. / Organon Foreign Debt Co-Issuer BV                                                 | CUSIP: 68622FAB7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   70000000 | PA      | $57718675.00   | 0.07%             | 2034-05-15      | Fixed         | 7.88%                 | No            |                  2 | On Loan: No      |
| International Business Machines Corp.                                               | International Business Machines Corp.                                                             | CUSIP: 459200101<br>LEI: VGRQXHF3J8VDLUA7XE92 | Long             | EC               | CORP              | US        |    2000000 | NS      | $484780000.00  | 0.62%             |  |  |  | No            |                  1 | On Loan: No      |
| CCO Holdings LLC / CCO Holdings Capital Corp.                                       | CCO Holdings LLC / CCO Holdings Capital Corp.                                                     | CUSIP: 1248EPCD3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   82500000 | PA      | $78334094.03   | 0.10%             | 2030-03-01      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| Bausch Health Cos., Inc.                                                            | Bausch Health Cos., Inc.                                                                          | CUSIP: 071734AQ0<br>LEI: B3BS7ACMDUWISF18KY76 | Long             | DBT              | CORP              | CA        |   60928000 | PA      | $62206788.55   | 0.08%             | 2028-09-30      | Fixed         | 11.00%                | No            |                  2 | On Loan: No      |
| CVS Health Corp.                                                                    | CVS Health Corp.                                                                                  | CUSIP: 126650DU1<br>LEI: 549300EJG376EN5NQE29 | Long             | DBT              | CORP              | US        |   95000000 | PA      | $96127404.90   | 0.12%             | 2033-02-21      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Ford Motor Credit Co. LLC                                                           | Ford Motor Credit Co. LLC                                                                         | CUSIP: 345397ZR7<br>LEI: UDSQCVRUX5BONN0VY111 | Long             | DBT              | CORP              | US        |   45000000 | PA      | $44587408.05   | 0.06%             | 2029-05-03      | Fixed         | 5.11%                 | No            |                  2 | On Loan: No      |
| UBS AG into Marvell Technology, Inc.                                                | UBS AG into Marvell Technology, Inc.                                                              | CUSIP: N/A<br>LEI: BFM8T61CT2L1QCEMIK50       | Long             | SN               | CORP              | CH        |    4500000 | NS      | $357410783.34  | 0.45%             | 2026-05-14      | Fixed         | 12.00%                | No            |                  2 | On Loan: No      |
| Ardagh Holdings SA                                                                  | Ardagh Holdings SA                                                                                | CUSIP: N/A<br>LEI: 549300ORV6YW6ESSNQ21       | Long             |  | CORP              | LU        |    5000000 | NS      | $39423153.87   | 0.05%             |  |  |  | No            |                  2 | On Loan: No      |
| Venture Global Plaquemines LNG LLC                                                  | Venture Global Plaquemines LNG LLC                                                                | CUSIP: 922966AF3<br>LEI: 549300TKP4I6OJ02BF90 | Long             | DBT              | CORP              | US        |   50000000 | PA      | $52079100.00   | 0.07%             | 2034-06-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Citigroup, Inc.                                                                     | Citigroup, Inc., Series Y                                                                         | CUSIP: 172967NB3<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |   25000000 | PA      | $24641250.00   | 0.03%             | 2026-11-15      | Fixed         | 4.15%                 | No            |                  2 | On Loan: No      |
| FHLMC Pool                                                                          | FHLMC Pool, 30 Year                                                                               | CUSIP: 3132DWHT3<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   69583831 | PA      | $70194030.07   | 0.09%             | 2053-07-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| JPMorgan Chase Bank NA into Schlumberger NV                                         | JPMorgan Chase Bank NA into Schlumberger NV                                                       | CUSIP: N/A<br>LEI: N/A                        | Long             | SN               | CORP              | US        |    6180000 | NS      | $280441621.96  | 0.36%             | 2027-07-21      | Fixed         | 10.00%                | No            |                  2 | On Loan: No      |
| Asurion LLC/ Asurion Co-Issuer, Inc.                                                | Asurion LLC and Asurion Co-Issuer, Inc.                                                           | CUSIP: 045941AB7<br>LEI: 549300KNQVXGIOXWK278 | Long             | DBT              | CORP              | US        |   80000000 | PA      | $77725793.60   | 0.10%             | 2034-02-01      | Fixed         | 8.38%                 | No            |                  2 | On Loan: No      |
| Netflix, Inc.                                                                       | Netflix, Inc.                                                                                     | CUSIP: 64110LAN6<br>LEI: 549300Y7VHGU0I7CE873 | Long             | DBT              | CORP              | US        |   43000000 | PA      | $43071618.65   | 0.05%             | 2026-11-15      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| Cleveland-Cliffs, Inc.                                                              | Cleveland-Cliffs, Inc.                                                                            | CUSIP: 185899AQ4<br>LEI: 549300TM2WLI2BJMDD86 | Long             | DBT              | CORP              | US        |   59265000 | PA      | $59299704.40   | 0.08%             | 2029-11-01      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| Asurion LLC/ Asurion Co-Issuer, Inc.                                                | Asurion LLC and Asurion Co-Issuer, Inc.                                                           | CUSIP: 045941AA9<br>LEI: 549300KNQVXGIOXWK278 | Long             | DBT              | CORP              | US        |   75000000 | PA      | $77871599.25   | 0.10%             | 2032-12-31      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| Quikrete Holdings, Inc.                                                             | Quikrete Holdings, Inc.                                                                           | CUSIP: 74843PAA8<br>LEI: 5493007KIN86DIZWZT22 | Long             | DBT              | CORP              | US        |   30000000 | PA      | $30442590.00   | 0.04%             | 2032-03-01      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| Goldman Sachs Group, Inc. (The)                                                     | Goldman Sachs Group, Inc. (The), Series U                                                         | CUSIP: 38144GAG6<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | DBT              | CORP              | US        |   20000000 | PA      | $19836058.00   | 0.03%             | 2026-08-10      | Fixed         | 3.65%                 | No            |                  2 | On Loan: No      |
| Citigroup Global Markets Holdings, Inc. into Bank of America Corp.                  | Citigroup Global Markets Holdings, Inc. into Bank of America Corp.                                | CUSIP: 17333Q849<br>LEI: 82VOJDD5PTRDMVVMGV31 | Long             | SN               | CORP              | US        |    5390000 | NS      | $263935573.29  | 0.34%             | 2027-03-22      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| Ford Motor Credit Co. LLC                                                           | Ford Motor Credit Co. LLC                                                                         | CUSIP: 345397C68<br>LEI: UDSQCVRUX5BONN0VY111 | Long             | DBT              | CORP              | US        |   45000000 | PA      | $47491411.50   | 0.06%             | 2030-03-06      | Fixed         | 7.35%                 | No            |                  2 | On Loan: No      |
| NextEra Energy, Inc.                                                                | NextEra Energy, Inc.                                                                              | CUSIP: 65339F101<br>LEI: 254900RHL9MEUS5NKX63 | Long             | EC               | CORP              | US        |     984100 | NS      | $91403208.00   | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Pilgrim's Pride Corp.                                                               | Pilgrim's Pride Corp.                                                                             | CUSIP: 72147KAK4<br>LEI: 549300ZSLGV64ZL3HD75 | Long             | DBT              | CORP              | US        |   68000000 | PA      | $71293240.00   | 0.09%             | 2033-07-01      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| Citigroup, Inc.                                                                     | Citigroup, Inc., Series GG                                                                        | CUSIP: 17327CBC6<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |   85000000 | PA      | $85655180.00   | 0.11%             | 2030-08-15      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| Goldman Sachs Group, Inc. (The)                                                     | Goldman Sachs Group, Inc. (The)                                                                   | CUSIP: 38141GA53<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | DBT              | CORP              | US        |   75000000 | PA      | $81570743.25   | 0.10%             | 2034-10-24      | Fixed         | 6.56%                 | No            |                  2 | On Loan: No      |
| N/A                                                                                 | Philip Morris International, Inc.                                                                 | CUSIP: 00CBTC7C3<br>LEI: N/A                  | N/A              | DE               |  | US        |      -5000 | NC      | $-575000.00    | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| CCO Holdings LLC / CCO Holdings Capital Corp.                                       | CCO Holdings LLC / CCO Holdings Capital Corp.                                                     | CUSIP: 1248EPCU5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   70000000 | PA      | $70262451.00   | 0.09%             | 2033-02-01      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| Dornoch Debt Merger Sub, Inc.                                                       | Dornoch Debt Merger Sub, Inc.                                                                     | CUSIP: 25830JAA9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   85000000 | PA      | $75966871.50   | 0.10%             | 2029-10-15      | Fixed         | 6.62%                 | No            |                  2 | On Loan: No      |
| Keenova Therapeutics plc                                                            | Keenova Therapeutics plc                                                                          | CUSIP: N/A<br>LEI: 549300LMDE3RUP8Z3L60       | Long             | EC               | CORP              | IE        |    1154712 | NS      | $101614656.00  | 0.13%             |  |  |  | No            |                  2 | On Loan: No      |
| BAT Capital Corp.                                                                   | BAT Capital Corp.                                                                                 | CUSIP: 05526DBR5<br>LEI: 2138005GYEXN7XRHFA84 | Long             | DBT              | CORP              | US        |   37812000 | PA      | $36306885.40   | 0.05%             | 2028-03-25      | Fixed         | 2.26%                 | No            |                  2 | On Loan: No      |
| Fortescue Treasury Pty. Ltd.                                                        | Fortescue Treasury Pty. Ltd.                                                                      | CUSIP: 30251GBD8<br>LEI: 549300EFD6S2NFE9D745 | Long             | DBT              | CORP              | AU        |   62035000 | PA      | $62835165.27   | 0.08%             | 2030-04-15      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| Centene Corp.                                                                       | Centene Corp.                                                                                     | CUSIP: 15135BAR2<br>LEI: 549300Z7JJ4TQSQGT333 | Long             | DBT              | CORP              | US        |   28220000 | PA      | $27736865.13   | 0.04%             | 2027-12-15      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| Barclays Bank plc into Freeport-McMoRan, Inc.                                       | Barclays Bank plc into Freeport-McMoRan, Inc.                                                     | CUSIP: N/A<br>LEI: N/A                        | Long             | SN               | CORP              | US        |    5200000 | NS      | $279234226.65  | 0.36%             | 2027-01-27      | Fixed         | 10.00%                | No            |                  2 | On Loan: No      |
| Venture Global LNG, Inc.                                                            | Venture Global LNG, Inc.                                                                          | CUSIP: 92332YAE1<br>LEI: 54930011XLBUWMQUC829 | Long             | DBT              | CORP              | US        |  140000000 | PA      | $143018120.00  | 0.18%             | 2030-01-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| Mercedes-Benz Group AG                                                              | Mercedes-Benz Group AG                                                                            | CUSIP: N/A<br>LEI: 529900R27DL06UVNT076       | Long             | EC               | CORP              | DE        |    2500000 | NS      | $153657236.08  | 0.20%             |  |  |  | No            |                  2 | On Loan: No      |
| FNMA                                                                                | FNMA, 30 Year                                                                                     | CUSIP: 31418ET67<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   65599534 | PA      | $66150047.52   | 0.08%             | 2053-07-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| McAfee Corp.                                                                        | McAfee Corp.                                                                                      | CUSIP: 579063AB4<br>LEI: 2549009UKR8UEZYVCR93 | Long             | DBT              | CORP              | US        |   68200000 | PA      | $56420925.66   | 0.07%             | 2030-02-15      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| Occidental Petroleum Corp.                                                          | Occidental Petroleum Corp.                                                                        | CUSIP: 674599ED3<br>LEI: IM7X0T3ECJW4C1T7ON55 | Long             | DBT              | CORP              | US        |   80000000 | PA      | $86066104.80   | 0.11%             | 2030-09-01      | Fixed         | 6.62%                 | No            |                  2 | On Loan: No      |
| Barclays Bank plc into Salesforce, Inc.                                             | Barclays Bank plc into Salesforce, Inc.                                                           | CUSIP: N/A<br>LEI: N/A                        | Long             | SN               | CORP              | US        |    1172000 | NS      | $221832142.15  | 0.28%             | 2027-03-18      | Fixed         | 9.00%                 | No            |                  2 | On Loan: No      |
| Ardagh Group SA                                                                     | Ardagh Group SA                                                                                   | CUSIP: 03969UAA4<br>LEI: 6354006L1NWUUOPYX274 | Long             | DBT              | CORP              | LU        |  260000000 | PA      | $219466000.00  | 0.28%             | 2030-12-01      | Fixed         | 12.00%                | No            |                  2 | On Loan: No      |
| Barclays Bank plc into Merck & Co., Inc.                                            | Barclays Bank plc into Merck & Co., Inc.                                                          | CUSIP: N/A<br>LEI: N/A                        | Long             | SN               | CORP              | US        |    3100000 | NS      | $298704390.62  | 0.38%             | 2026-10-02      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| Delta Air Lines, Inc. / SkyMiles IP Ltd.                                            | Delta Air Lines, Inc. / SkyMiles IP Ltd.                                                          | CUSIP: 830867AB3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  114583333 | PA      | $114458899.31  | 0.15%             | 2028-10-20      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| Claritev Corp.                                                                      | Claritev Corp.                                                                                    | CUSIP: 62548MAA8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   27173790 | PA      | $17662963.50   | 0.02%             | 2031-03-31      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| Crown Castle, Inc.                                                                  | Crown Castle, Inc.                                                                                | CUSIP: 22822VBC4<br>LEI: 54930012H97VSM0I2R19 | Long             | DBT              | CORP              | US        |   60000000 | PA      | $59183397.00   | 0.08%             | 2033-05-01      | Fixed         | 5.10%                 | No            |                  2 | On Loan: No      |
| Johnson & Johnson                                                                   | Johnson & Johnson                                                                                 | CUSIP: 478160104<br>LEI: 549300G0CFPGEF6X2043 | Long             | EC               | CORP              | US        |    1000000 | NS      | $244440000.00  | 0.31%             |  |  |  | No            |                  1 | On Loan: No      |
| Merck & Co., Inc.                                                                   | Merck & Co., Inc.                                                                                 | CUSIP: 58933Y105<br>LEI: 4YV9Y5M8S0BRK1RP0397 | Long             | EC               | CORP              | US        |    3000000 | NS      | $360870000.00  | 0.46%             |  |  |  | No            |                  1 | On Loan: No      |
| Morgan Stanley                                                                      | Morgan Stanley                                                                                    | CUSIP: 61747YEY7<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |   35000000 | PA      | $37464259.35   | 0.05%             | 2033-10-18      | Fixed         | 6.34%                 | No            |                  2 | On Loan: No      |
| Royal Bank of Canada into Texas Instruments, Inc.                                   | Royal Bank of Canada into Texas Instruments, Inc.                                                 | CUSIP: N/A<br>LEI: ES7IP3U3RHIGC71XBU11       | Long             | SN               | CORP              | CA        |     674000 | NS      | $132524750.84  | 0.17%             | 2026-07-21      | Fixed         | 9.00%                 | No            |                  2 | On Loan: No      |
| JBS NV / JBS USA Foods Group Holdings, Inc. / JBS USA Food Co. Holdings             | JBS NV / JBS USA Foods Group Holdings, Inc. / JBS USA Food Co. Holdings                           | CUSIP: 46590XAY2<br>LEI: N/A                  | Long             | DBT              | CORP              | NL        |   85000000 | PA      | $87793549.65   | 0.11%             | 2033-04-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| United States of America                                                            | U.S. Treasury Notes                                                                               | CUSIP: 91282CNC1<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        | 1250000000 | PA      | $1246899412.50 | 1.59%             | 2035-05-15      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| Pfizer, Inc.                                                                        | Pfizer, Inc.                                                                                      | CUSIP: 717081103<br>LEI: 765LHXWGK1KXCLTFYQ30 | Long             | EC               | CORP              | US        |   17000000 | NS      | $477360000.00  | 0.61%             |  |  |  | No            |                  1 | On Loan: No      |
| PNC Financial Services Group, Inc. (The)                                            | PNC Financial Services Group, Inc. (The)                                                          | CUSIP: 693475BJ3<br>LEI: CFGNEKW0P8842LEUIA51 | Long             | DBT              | CORP              | US        |   70000000 | PA      | $74070684.10   | 0.09%             | 2033-10-28      | Fixed         | 6.04%                 | No            |                  2 | On Loan: No      |
| General Motors Financial Co., Inc.                                                  | General Motors Financial Co., Inc.                                                                | CUSIP: 37045XEN2<br>LEI: 5493008B6JBRUJ90QL97 | Long             | DBT              | CORP              | US        |   75000000 | PA      | $77200176.00   | 0.10%             | 2029-01-07      | Fixed         | 5.80%                 | No            |                  2 | On Loan: No      |
| Capital One Financial Corp.                                                         | Capital One Financial Corp.                                                                       | CUSIP: 14040HDC6<br>LEI: ZUE8T73ROZOF6FLBAR73 | Long             | DBT              | CORP              | US        |   40000000 | PA      | $44192245.60   | 0.06%             | 2031-10-30      | Fixed         | 7.62%                 | No            |                  2 | On Loan: No      |
| UBS AG into Oracle Corp.                                                            | UBS AG into Oracle Corp.                                                                          | CUSIP: 90304M386<br>LEI: BFM8T61CT2L1QCEMIK50 | Long             | SN               | CORP              | CH        |     740000 | NS      | $116068152.40  | 0.15%             | 2027-01-11      | Fixed         | 12.00%                | No            |                  2 | On Loan: No      |
| Tenet Healthcare Corp.                                                              | Tenet Healthcare Corp.                                                                            | CUSIP: 88033GDK3<br>LEI: 0W9AIBT6U6ADJ2I8HK17 | Long             | DBT              | CORP              | US        |  356996000 | PA      | $358031092.05  | 0.46%             | 2028-10-01      | Fixed         | 6.12%                 | No            |                  2 | On Loan: No      |
| United Airlines Pass-Through Trust                                                  | United Airlines Pass-Through Trust, Series 2023-1, Class A                                        | CUSIP: 90932LAJ6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   45531400 | PA      | $47023482.71   | 0.06%             | 2036-01-15      | Fixed         | 5.80%                 | No            |                  2 | On Loan: No      |
| United States of America                                                            | U.S. Treasury Bonds                                                                               | CUSIP: 912810EY0<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  250000000 | PA      | $254143085.00  | 0.32%             | 2026-11-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| CHS/Community Health Systems, Inc.                                                  | CHS/Community Health Systems, Inc.                                                                | CUSIP: 12543DBM1<br>LEI: 5493007X5NC5XI1BB106 | Long             | DBT              | CORP              | US        |   14900000 | PA      | $14052522.87   | 0.02%             | 2030-05-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| BellRing Brands, Inc.                                                               | BellRing Brands, Inc.                                                                             | CUSIP: 07831CAA1<br>LEI: 549300S3BOK5CMTS8054 | Long             | DBT              | CORP              | US        |   30000000 | PA      | $30029850.00   | 0.04%             | 2030-03-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| Ford Motor Co.                                                                      | Ford Motor Co.                                                                                    | CUSIP: 345370CR9<br>LEI: 20S05OYHG0MQM4VUIC57 | Long             | DBT              | CORP              | US        |   35000000 | PA      | $34905028.20   | 0.04%             | 2026-12-08      | Fixed         | 4.35%                 | No            |                  2 | On Loan: No      |
| Ford Motor Co.                                                                      | Ford Motor Co.                                                                                    | CUSIP: 345370DB3<br>LEI: 20S05OYHG0MQM4VUIC57 | Long             | DBT              | CORP              | US        |  155000000 | PA      | $156365784.05  | 0.20%             | 2032-08-19      | Fixed         | 6.10%                 | No            |                  2 | On Loan: No      |
| U.S. Treasury Bills                                                                 | U.S. Treasury Bills                                                                               | CUSIP: 912797TG2<br>LEI: 254900HROIFWPRGM1V77 | Long             | STIV             | UST               | US        |  250000000 | PA      | $249849582.50  | 0.32%             | 2026-04-07      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Rain Carbon, Inc.                                                                   | Rain Carbon, Inc.                                                                                 | CUSIP: 75079LAB7<br>LEI: 25490038N6JQH7QXUK52 | Long             | DBT              | CORP              | US        |   38000000 | PA      | $39143762.00   | 0.05%             | 2029-09-01      | Fixed         | 12.25%                | No            |                  2 | On Loan: No      |
| BNP Paribas Issuance BV into Freeport-McMoRan, Inc.                                 | BNP Paribas Issuance BV into Freeport-McMoRan, Inc.                                               | CUSIP: N/A<br>LEI: 7245009UXRIGIRYOBR48       | Long             | SN               | CORP              | NL        |    3750000 | NS      | $173389124.51  | 0.22%             | 2026-08-28      | Fixed         | 10.00%                | No            |                  2 | On Loan: No      |
| Citigroup, Inc.                                                                     | Citigroup, Inc.                                                                                   | CUSIP: 172967PA3<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |   75000000 | PA      | $80196159.00   | 0.10%             | 2033-11-17      | Fixed         | 6.27%                 | No            |                  2 | On Loan: No      |
| Medline Borrower LP                                                                 | Medline Borrower LP                                                                               | CUSIP: 62482BAA0<br>LEI: 254900QT3R363TVK6F09 | Long             | DBT              | CORP              | US        |  110000000 | PA      | $106471398.00  | 0.14%             | 2029-04-01      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| United Parcel Service, Inc.                                                         | United Parcel Service, Inc., Class B                                                              | CUSIP: 911312106<br>LEI: D01LMJZU09ULLNCY6Z23 | Long             | EC               | CORP              | US        |     500000 | NS      | $49190000.00   | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Wynn Las Vegas LLC / Wynn Las Vegas Capital Corp.                                   | Wynn Las Vegas LLC / Wynn Las Vegas Capital Corp.                                                 | CUSIP: 983130AX3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  125000000 | PA      | $124617812.50  | 0.16%             | 2027-05-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Regal Rexnord Corp.                                                                 | Regal Rexnord Corp.                                                                               | CUSIP: 758750AP8<br>LEI: QH78R09VCJGQKPBPYU33 | Long             | DBT              | CORP              | US        |   60000000 | PA      | $63447292.20   | 0.08%             | 2033-04-15      | Fixed         | 6.40%                 | No            |                  2 | On Loan: No      |
| Cleveland-Cliffs, Inc.                                                              | Cleveland-Cliffs, Inc.                                                                            | CUSIP: 185899AL5<br>LEI: 549300TM2WLI2BJMDD86 | Long             | DBT              | CORP              | US        |   25000000 | PA      | $22479565.00   | 0.03%             | 2031-03-01      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| UBS AG into Texas Instruments, Inc.                                                 | UBS AG into Texas Instruments, Inc.                                                               | CUSIP: 90304M477<br>LEI: BFM8T61CT2L1QCEMIK50 | Long             | SN               | CORP              | CH        |    1200000 | NS      | $241773943.08  | 0.31%             | 2027-02-24      | Fixed         | 10.00%                | No            |                  2 | On Loan: No      |
| Citigroup, Inc.                                                                     | Citigroup, Inc.                                                                                   | CUSIP: 17327CAU7<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |   30000000 | PA      | $29318969.70   | 0.04%             | 2039-09-19      | Fixed         | 5.41%                 | No            |                  2 | On Loan: No      |
| UBS AG into Schlumberger NV                                                         | UBS AG into Schlumberger NV                                                                       | CUSIP: 90304M428<br>LEI: BFM8T61CT2L1QCEMIK50 | Long             | SN               | CORP              | CH        |    5050000 | NS      | $248821410.93  | 0.32%             | 2027-02-11      | Fixed         | 10.00%                | No            |                  2 | On Loan: No      |
| Raymond James Financial, Inc.                                                       | Raymond James Financial, Inc.                                                                     | CUSIP: 754730109<br>LEI: RGUZHJ05YTITL6D76949 | Long             | EC               | CORP              | US        |     600000 | NS      | $86874000.00   | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Merrill Lynch BV into UnitedHealth Group, Inc.                                      | Merrill Lynch BV into UnitedHealth Group, Inc.                                                    | CUSIP: N/A<br>LEI: 549300RQ1D1WIE085245       | Long             | SN               | CORP              | NL        |     520000 | NS      | $143185594.24  | 0.18%             | 2026-07-01      | Fixed         | 10.00%                | No            |                  2 | On Loan: No      |
| J.P. Morgan Structured Products BV into Blackrock, Inc.                             | J.P. Morgan Structured Products BV into Blackrock, Inc.                                           | CUSIP: N/A<br>LEI: N/A                        | Long             | SN               | CORP              | US        |     226000 | NS      | $216543389.25  | 0.28%             | 2027-04-01      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| RR Donnelley & Sons Co.                                                             | RR Donnelley & Sons Co.                                                                           | CUSIP: 257867BJ9<br>LEI: SU4X0P4WWRGOQDTSV032 | Long             | DBT              | CORP              | US        |   50000000 | PA      | $50650700.00   | 0.06%             | 2029-08-01      | Fixed         | 9.50%                 | No            |                  2 | On Loan: No      |
| Viatris, Inc.                                                                       | Viatris, Inc.                                                                                     | CUSIP: 92556VAD8<br>LEI: 254900ZZTSW7NL773X71 | Long             | DBT              | CORP              | US        |   40000000 | PA      | $36251294.00   | 0.05%             | 2030-06-22      | Fixed         | 2.70%                 | No            |                  2 | On Loan: No      |
| American Tower Corp.                                                                | American Tower Corp.                                                                              | CUSIP: 03027XBZ2<br>LEI: 5493006ORUSIL88JOE18 | Long             | DBT              | CORP              | US        |   80000000 | PA      | $82711368.00   | 0.11%             | 2033-03-15      | Fixed         | 5.65%                 | No            |                  2 | On Loan: No      |
| Barclays plc                                                                        | Barclays plc                                                                                      | CUSIP: 06738ECL7<br>LEI: 213800LBQA1Y9L22JB70 | Long             | DBT              | CORP              | GB        |   70000000 | PA      | $75772612.30   | 0.10%             | 2034-09-13      | Fixed         | 6.69%                 | No            |                  2 | On Loan: No      |
| CHS/Community Health Systems, Inc.                                                  | CHS/Community Health Systems, Inc.                                                                | CUSIP: 12543DBL3<br>LEI: 5493007X5NC5XI1BB106 | Long             | DBT              | CORP              | US        |  630000000 | PA      | $548461998.00  | 0.70%             | 2030-04-01      | Fixed         | 6.12%                 | No            |                  2 | On Loan: No      |
| JPMorgan Chase & Co.                                                                | JPMorgan Chase & Co.                                                                              | CUSIP: 46647PDY9<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | DBT              | CORP              | US        |   90000000 | PA      | $96798486.60   | 0.12%             | 2034-10-23      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| GNMA                                                                                | GNMA II, Single-family, 30 Year                                                                   | CUSIP: 3618N5MQ9<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |  173029441 | PA      | $174390367.51  | 0.22%             | 2055-05-20      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| CHS/Community Health Systems, Inc.                                                  | CHS/Community Health Systems, Inc.                                                                | CUSIP: 12543DBJ8<br>LEI: 5493007X5NC5XI1BB106 | Long             | DBT              | CORP              | US        |  522000000 | PA      | $502512591.60  | 0.64%             | 2029-04-15      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| US Bancorp                                                                          | US Bancorp                                                                                        | CUSIP: 91159HJJ0<br>LEI: N1GZ7BBF3NP8GI976H15 | Long             | DBT              | CORP              | US        |   45000000 | PA      | $47346017.85   | 0.06%             | 2033-10-21      | Fixed         | 5.85%                 | No            |                  2 | On Loan: No      |
| Royal Bank of Canada into BP plc                                                    | Royal Bank of Canada into BP plc                                                                  | CUSIP: N/A<br>LEI: ES7IP3U3RHIGC71XBU11       | Long             | SN               | CORP              | CA        |    3830000 | NS      | $145462440.85  | 0.18%             | 2026-10-07      | Fixed         | 10.00%                | No            |                  2 | On Loan: No      |
| Philip Morris International, Inc.                                                   | Philip Morris International, Inc.                                                                 | CUSIP: 718172CX5<br>LEI: HL3H1H2BGXWVG3BSWR90 | Long             | DBT              | CORP              | US        |   41000000 | PA      | $43180119.24   | 0.05%             | 2032-11-17      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Home Depot, Inc. (The)                                                              | Home Depot, Inc. (The)                                                                            | CUSIP: 437076102<br>LEI: QEKMOTMBBKA8I816DO57 | Long             | EC               | CORP              | US        |    2000000 | NS      | $657780000.00  | 0.84%             |  |  |  | No            |                  1 | On Loan: No      |
| U.S. Treasury Bills                                                                 | U.S. Treasury Bills                                                                               | CUSIP: 912797TJ6<br>LEI: 254900HROIFWPRGM1V77 | Long             | STIV             | UST               | US        |  250000000 | PA      | $249496805.00  | 0.32%             | 2026-04-21      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| UBS AG into Bank of America Corp.                                                   | UBS AG into Bank of America Corp.                                                                 | CUSIP: 90304M485<br>LEI: BFM8T61CT2L1QCEMIK50 | Long             | SN               | CORP              | CH        |    3300000 | NS      | $164570378.18  | 0.21%             | 2027-03-03      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| United States of America                                                            | U.S. Treasury Bonds                                                                               | CUSIP: 912810EX2<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  250000000 | PA      | $252679837.50  | 0.32%             | 2026-08-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| J.P. Morgan Structured Products BV into Home Depot, Inc. (The)                      | J.P. Morgan Structured Products BV into Home Depot, Inc. (The)                                    | CUSIP: N/A<br>LEI: XZYUUT6IYN31D9K77X08       | Long             | SN               | CORP              | NL        |    1000000 | NS      | $338754168.00  | 0.43%             | 2026-10-20      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| AXA SA                                                                              | AXA SA                                                                                            | CUSIP: N/A<br>LEI: F5WCUMTUM4RKZ1MAIE39       | Long             | EC               | CORP              | FR        |    1000000 | NS      | $45951562.26   | 0.06%             |  |  |  | No            |                  2 | On Loan: No      |
| Kinder Morgan, Inc.                                                                 | Kinder Morgan, Inc.                                                                               | CUSIP: 494553AE0<br>LEI: 549300WR7IX8XE0TBO16 | Long             | DBT              | CORP              | US        |   30000000 | PA      | $30692863.80   | 0.04%             | 2034-02-01      | Fixed         | 5.40%                 | No            |                  2 | On Loan: No      |
| Merrill Lynch BV into Salesforce, Inc.                                              | Merrill Lynch BV into Salesforce, Inc.                                                            | CUSIP: 59028A259<br>LEI: 549300RQ1D1WIE085245 | Long             | SN               | CORP              | NL        |    1220000 | NS      | $240279178.24  | 0.31%             | 2027-02-08      | Fixed         | 10.00%                | No            |                  2 | On Loan: No      |
| KKR & Co., Inc.                                                                     | KKR & Co., Inc., Series D                                                                         | CUSIP: 48251W500<br>LEI: 54930013V5I303TF9571 | Long             | EP               | CORP              | US        |    1500000 | NS      | $60330000.00   | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| NRG Energy, Inc.                                                                    | NRG Energy, Inc.                                                                                  | CUSIP: 629377CX8<br>LEI: 5E2UPK5SW04M13XY7I38 | Long             | DBT              | CORP              | US        |   65000000 | PA      | $65571167.35   | 0.08%             | 2034-11-01      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| Morgan Stanley                                                                      | Morgan Stanley                                                                                    | CUSIP: 61748UAT9<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |   50000000 | PA      | $49004679.00   | 0.06%             | 2037-01-30      | Fixed         | 5.07%                 | No            |                  2 | On Loan: No      |
| U.S. Treasury Bills                                                                 | U.S. Treasury Bills                                                                               | CUSIP: 912797TH0<br>LEI: 254900HROIFWPRGM1V77 | Long             | STIV             | UST               | US        |  250000000 | PA      | $249672742.50  | 0.32%             | 2026-04-14      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| United Airlines, Inc.                                                               | United Airlines, Inc.                                                                             | CUSIP: 90932LAH0<br>LEI: K1OQBWM7XEOO08LDNP29 | Long             | DBT              | CORP              | US        |  161643000 | PA      | $158697686.73  | 0.20%             | 2029-04-15      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| Wells Fargo & Co.                                                                   | Wells Fargo & Co., Series GG                                                                      | CUSIP: 95002YAE3<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | DBT              | CORP              | US        |   80000000 | PA      | $80322295.20   | 0.10%             | 2031-06-15      | Fixed         | 6.12%                 | No            |                  2 | On Loan: No      |
| Venture Global Plaquemines LNG LLC                                                  | Venture Global Plaquemines LNG LLC                                                                | CUSIP: 922966AA4<br>LEI: 549300TKP4I6OJ02BF90 | Long             | DBT              | CORP              | US        |   50000000 | PA      | $54989450.00   | 0.07%             | 2033-05-01      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| Citigroup, Inc.                                                                     | Citigroup, Inc.                                                                                   | CUSIP: 172967QJ3<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |   22370000 | PA      | $22401994.25   | 0.03%             | 2031-02-15      | Fixed         | 6.62%                 | No            |                  2 | On Loan: No      |
| Herc Holdings, Inc.                                                                 | Herc Holdings, Inc.                                                                               | CUSIP: 42704LAG9<br>LEI: 549300TP80QLITMSBP82 | Long             | DBT              | CORP              | US        |   30000000 | PA      | $30767760.00   | 0.04%             | 2033-06-15      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| PNC Financial Services Group, Inc. (The)                                            | PNC Financial Services Group, Inc. (The)                                                          | CUSIP: 693475105<br>LEI: CFGNEKW0P8842LEUIA51 | Long             | EC               | CORP              | US        |     750000 | NS      | $156067500.00  | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| USA Compression Partners LP / USA Compression Finance Corp.                         | USA Compression Partners LP / USA Compression Finance Corp.                                       | CUSIP: 91740PAG3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   40000000 | PA      | $40950646.80   | 0.05%             | 2029-03-15      | Fixed         | 7.12%                 | No            |                  2 | On Loan: No      |
| Expedia Group, Inc.                                                                 | Expedia Group, Inc.                                                                               | CUSIP: 30212PAP0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   36500000 | PA      | $36018699.32   | 0.05%             | 2028-02-15      | Fixed         | 3.80%                 | No            |                  2 | On Loan: No      |
| Merrill Lynch BV into Procter & Gamble Co. (The)                                    | Merrill Lynch BV into Procter & Gamble Co. (The)                                                  | CUSIP: 59028A317<br>LEI: 549300RQ1D1WIE085245 | Long             | SN               | CORP              | NL        |    2239000 | NS      | $321501776.89  | 0.41%             | 2027-04-12      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| Fertitta Entertainment LLC / Fertitta Entertainment Finance Co., Inc.               | Fertitta Entertainment LLC / Fertitta Entertainment Finance Co., Inc.                             | CUSIP: 31556TAA7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   95000000 | PA      | $90849659.00   | 0.12%             | 2029-01-15      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| Vistra Operations Co. LLC                                                           | Vistra Operations Co. LLC                                                                         | CUSIP: 92840VAP7<br>LEI: 549300ZH5GKBTJZ7NM23 | Long             | DBT              | CORP              | US        |   79000000 | PA      | $82788969.56   | 0.11%             | 2031-10-15      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| Oracle Corp.                                                                        | Oracle Corp.                                                                                      | CUSIP: 68389XDP7<br>LEI: 1Z4GXXU7ZHVWFCD8TV52 | Long             | DBT              | CORP              | US        |   50000000 | PA      | $43169102.00   | 0.05%             | 2045-09-26      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| TransDigm, Inc.                                                                     | TransDigm, Inc.                                                                                   | CUSIP: 893647CA3<br>LEI: 88Q84GB3X55CF5OC7582 | Long             | DBT              | CORP              | US        |  100000000 | PA      | $101385500.00  | 0.13%             | 2034-01-31      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| Barclays Bank plc into Micron Technology, Inc.                                      | Barclays Bank plc into Micron Technology, Inc.                                                    | CUSIP: N/A<br>LEI: G5GSEF7VJP5I7OUK5573       | Long             | SN               | CORP              | GB        |    2050000 | NS      | $305125366.92  | 0.39%             | 2026-09-08      | Fixed         | 10.00%                | No            |                  2 | On Loan: No      |
| EMRLD Borrower LP                                                                   | EMRLD Borrower LP, First Lien, Second Amendment Incremental CME Term Loan                         | CUSIP: 26872NAD1<br>LEI: 5493000GJYE7GAQCUC61 | Long             | LON              | CORP              | US        |   54227470 | PA      | $54199271.72   | 0.07%             | 2031-08-04      | Variable      | 6.12%                 | No            |                  2 | On Loan: No      |
| TransDigm, Inc.                                                                     | TransDigm, Inc., First Lien, CME Term Loan, J                                                     | CUSIP: 89364MCA0<br>LEI: 88Q84GB3X55CF5OC7582 | Long             | LON              | CORP              | US        |   19748744 | PA      | $19773627.14   | 0.03%             | 2031-02-28      | Variable      | 6.17%                 | No            |                  2 | On Loan: No      |
| NRG Energy, Inc.                                                                    | NRG Energy, Inc.                                                                                  | CUSIP: 629377CP5<br>LEI: 5E2UPK5SW04M13XY7I38 | Long             | DBT              | CORP              | US        |   30000000 | PA      | $28907367.30   | 0.04%             | 2027-12-02      | Fixed         | 2.45%                 | No            |                  2 | On Loan: No      |
| Cleveland-Cliffs, Inc.                                                              | Cleveland-Cliffs, Inc.                                                                            | CUSIP: 185899AR2<br>LEI: 549300TM2WLI2BJMDD86 | Long             | DBT              | CORP              | US        |   71000000 | PA      | $69515395.68   | 0.09%             | 2033-05-01      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| Ashtead Capital, Inc.                                                               | Ashtead Capital, Inc.                                                                             | CUSIP: 045054AR4<br>LEI: 213800J1134IW58IC398 | Long             | DBT              | CORP              | US        |   35000000 | PA      | $36086314.60   | 0.05%             | 2033-10-15      | Fixed         | 5.95%                 | No            |                  2 | On Loan: No      |
| Barclays plc                                                                        | Barclays plc                                                                                      | CUSIP: 06738EDC6<br>LEI: 213800LBQA1Y9L22JB70 | Long             | DBT              | CORP              | GB        |   20000000 | PA      | $20203110.20   | 0.03%             | 2035-03-15      | Fixed         | 7.62%                 | No            |                  2 | On Loan: No      |
| General Motors Co.                                                                  | General Motors Co.                                                                                | CUSIP: 37045VAP5<br>LEI: 54930070NSV60J38I987 | Long             | DBT              | CORP              | US        |  140000000 | PA      | $131408212.60  | 0.17%             | 2038-04-01      | Fixed         | 5.15%                 | No            |                  2 | On Loan: No      |
| General Motors Financial Co., Inc.                                                  | General Motors Financial Co., Inc.                                                                | CUSIP: 37045XEH5<br>LEI: 5493008B6JBRUJ90QL97 | Long             | DBT              | CORP              | US        |   50000000 | PA      | $51226016.50   | 0.07%             | 2028-06-23      | Fixed         | 5.80%                 | No            |                  2 | On Loan: No      |
| Kedrion SpA                                                                         | Kedrion SpA                                                                                       | CUSIP: 49272YAB9<br>LEI: 81560047FA58E1BEDF67 | Long             | DBT              | CORP              | IT        |   50000000 | PA      | $48484320.50   | 0.06%             | 2029-09-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Wells Fargo & Co.                                                                   | Wells Fargo & Co.                                                                                 | CUSIP: 95000U3F8<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | DBT              | CORP              | US        |   70000000 | PA      | $71762863.20   | 0.09%             | 2034-07-25      | Fixed         | 5.56%                 | No            |                  2 | On Loan: No      |
| Venture Global LNG, Inc.                                                            | Venture Global LNG, Inc.                                                                          | CUSIP: 92332YAF8<br>LEI: 54930011XLBUWMQUC829 | Long             | DBT              | CORP              | US        |  370000000 | PA      | $368827532.90  | 0.47%             | 2029-09-30      | Fixed         | 9.00%                 | No            |                  2 | On Loan: No      |
| NRG Energy, Inc.                                                                    | NRG Energy, Inc.                                                                                  | CUSIP: 629377CX8<br>LEI: 5E2UPK5SW04M13XY7I38 | Long             | DBT              | CORP              | US        |   10000000 | PA      | $10087871.90   | 0.01%             | 2034-11-01      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| KeyBank NA                                                                          | KeyBank NA                                                                                        | CUSIP: 49327M3F9<br>LEI: HUX2X73FUCYHUVH1BK78 | Long             | DBT              | CORP              | US        |   50000000 | PA      | $51062739.00   | 0.06%             | 2027-11-15      | Fixed         | 5.85%                 | No            |                  2 | On Loan: No      |
| Merrill Lynch BV into NIKE, Inc.                                                    | Merrill Lynch BV into NIKE, Inc.                                                                  | CUSIP: 59028A234<br>LEI: 549300RQ1D1WIE085245 | Long             | SN               | CORP              | NL        |    3400000 | NS      | $187276484.29  | 0.24%             | 2027-02-02      | Fixed         | 10.00%                | No            |                  2 | On Loan: No      |
| Pacific Gas and Electric Co.                                                        | Pacific Gas and Electric Co.                                                                      | CUSIP: 694308KJ5<br>LEI: 1HNPXZSMMB7HMBMVBS46 | Long             | DBT              | CORP              | US        |   50000000 | PA      | $52309527.50   | 0.07%             | 2033-01-15      | Fixed         | 6.15%                 | No            |                  2 | On Loan: No      |
| CVS Health Corp.                                                                    | CVS Health Corp.                                                                                  | CUSIP: 126650CY4<br>LEI: 549300EJG376EN5NQE29 | Long             | DBT              | CORP              | US        |   61925000 | PA      | $57099660.95   | 0.07%             | 2038-03-25      | Fixed         | 4.78%                 | No            |                  2 | On Loan: No      |
| Caesars Entertainment, Inc.                                                         | Caesars Entertainment, Inc.                                                                       | CUSIP: 12769GAA8<br>LEI: 549300FA4CTCW903Y781 | Long             | DBT              | CORP              | US        |  129000000 | PA      | $124140570.00  | 0.16%             | 2029-10-15      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| N/A                                                                                 | Abbott Laboratories                                                                               | CUSIP: 00PBRFSC1<br>LEI: N/A                  | N/A              | DE               |  | US        |      -5000 | NC      | $-2225000.00   | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| Freeport-McMoRan, Inc.                                                              | Freeport-McMoRan, Inc.                                                                            | CUSIP: 35671D857<br>LEI: 549300IRDTHJQ1PVET45 | Long             | EC               | CORP              | US        |    3750000 | NS      | $220425000.00  | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| Albemarle Corp.                                                                     | Albemarle Corp.                                                                                   | CUSIP: 012653200<br>LEI: HDBLS2Q6GV1LSKQPBS54 | Long             | EP               | CORP              | US        |    4000000 | NS      | $287400000.00  | 0.37%             |  |  |  | No            |                  1 | On Loan: No      |
| Southern Co. (The)                                                                  | Southern Co. (The)                                                                                | CUSIP: 842587107<br>LEI: 549300FC3G3YU2FBZD92 | Long             | EC               | CORP              | US        |    9000000 | NS      | $868680000.00  | 1.10%             |  |  |  | No            |                  1 | On Loan: No      |
| FNMA                                                                                | FNMA, 30 Year                                                                                     | CUSIP: 31418FED5<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |  195397980 | PA      | $196500482.11  | 0.25%             | 2054-11-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| N/A                                                                                 | Exxon Mobil Corp.                                                                                 | CUSIP: 00CC3TT12<br>LEI: N/A                  | N/A              | DE               |  | US        |     -20000 | NC      | $-21700000.00  | -0.03%            |  |  |  | No            |                  1 | On Loan: No      |
| Fortescue Treasury Pty. Ltd.                                                        | Fortescue Treasury Pty. Ltd.                                                                      | CUSIP: 30251GBE6<br>LEI: 549300EFD6S2NFE9D745 | Long             | DBT              | CORP              | AU        |   75000000 | PA      | $76704573.00   | 0.10%             | 2032-04-15      | Fixed         | 6.12%                 | No            |                  2 | On Loan: No      |
| Capital One Financial Corp.                                                         | Capital One Financial Corp.                                                                       | CUSIP: 14040HCV5<br>LEI: ZUE8T73ROZOF6FLBAR73 | Long             | DBT              | CORP              | US        |   40000000 | PA      | $40556098.40   | 0.05%             | 2030-07-26      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Vistra Corp.                                                                        | Vistra Corp.                                                                                      | CUSIP: 92840MAC6<br>LEI: 549300KP43CPCUJOOG15 | Long             | DBT              | CORP              | US        |  107750000 | PA      | $107963556.19  | 0.14%             | 2026-12-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| N/A                                                                                 | Home Depot, Inc. (The)                                                                            | CUSIP: 00CBRSA44<br>LEI: N/A                  | N/A              | DE               |  | US        |      -5000 | NC      | $-160000.00    | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| Cheniere Energy, Inc.                                                               | Cheniere Energy, Inc.                                                                             | CUSIP: 16411RAN9<br>LEI: MIHC87W9WTYSYZWV1J40 | Long             | DBT              | CORP              | US        |   40000000 | PA      | $41193646.00   | 0.05%             | 2034-04-15      | Fixed         | 5.65%                 | No            |                  2 | On Loan: No      |
| Bank of America NA into Microchip Technology, Inc.                                  | Bank of America NA into Microchip Technology, Inc.                                                | CUSIP: 59027W401<br>LEI: B4TYDEB6GKMZO031MB27 | Long             | SN               | CORP              | US        |    3200000 | NS      | $202157539.71  | 0.26%             | 2026-09-03      | Fixed         | 11.00%                | No            |                  2 | On Loan: No      |
| TotalEnergies SE                                                                    | TotalEnergies SE                                                                                  | CUSIP: N/A<br>LEI: 529900S21EQ1BO4ESM68       | Long             | EC               | CORP              | FR        |    4000000 | NS      | $363920000.00  | 0.46%             |  |  |  | No            |                  1 | On Loan: No      |
| GNMA                                                                                | GNMA II, Single-family, 30 Year                                                                   | CUSIP: 3618N5RF8<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   80653923 | PA      | $81285608.16   | 0.10%             | 2055-07-20      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Opal Bidco SAS                                                                      | Opal Bidco SAS                                                                                    | CUSIP: 68348BAA1<br>LEI: 969500R96XT7XY2UJ564 | Long             | DBT              | CORP              | FR        |   65000000 | PA      | $65101985.00   | 0.08%             | 2032-03-31      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| ArcelorMittal SA                                                                    | ArcelorMittal SA                                                                                  | CUSIP: 03938LBF0<br>LEI: 2EULGUTUI56JI9SAL165 | Long             | DBT              | CORP              | LU        |   55000000 | PA      | $60740950.05   | 0.08%             | 2032-11-29      | Fixed         | 6.80%                 | No            |                  2 | On Loan: No      |
| VICI Properties LP                                                                  | VICI Properties LP                                                                                | CUSIP: 925650AD5<br>LEI: 254900X4QE7SGKQLLN38 | Long             | DBT              | CORP              | US        |   50000000 | PA      | $49296474.00   | 0.06%             | 2032-05-15      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| International Flavors & Fragrances, Inc.                                            | International Flavors & Fragrances, Inc.                                                          | CUSIP: 459506AQ4<br>LEI: BZLRL03D3GPGMOGFO832 | Long             | DBT              | CORP              | US        |   24549000 | PA      | $21881405.50   | 0.03%             | 2030-11-01      | Fixed         | 2.30%                 | No            |                  2 | On Loan: No      |
| Caesars Entertainment, Inc.                                                         | Caesars Entertainment, Inc.                                                                       | CUSIP: 12769GAC4<br>LEI: 549300FA4CTCW903Y781 | Long             | DBT              | CORP              | US        |  142500000 | PA      | $140955029.25  | 0.18%             | 2032-02-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Citigroup Global Markets Holdings, Inc. into Freeport-McMoRan, Inc.                 | Citigroup Global Markets Holdings, Inc. into Freeport-McMoRan, Inc.                               | CUSIP: N/A<br>LEI: 82VOJDD5PTRDMVVMGV31       | Long             | SN               | CORP              | US        |    2575000 | NS      | $115165171.95  | 0.15%             | 2026-06-09      | Fixed         | 12.00%                | No            |                  2 | On Loan: No      |
| SCIH Salt Holdings, Inc.                                                            | SCIH Salt Holdings, Inc.                                                                          | CUSIP: 78433BAB4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  100000000 | PA      | $99584000.00   | 0.13%             | 2029-05-01      | Fixed         | 6.62%                 | No            |                  2 | On Loan: No      |
| Barclays plc                                                                        | Barclays plc                                                                                      | CUSIP: 06738EBM6<br>LEI: 213800LBQA1Y9L22JB70 | Long             | DBT              | CORP              | GB        |   30000000 | PA      | $27488633.70   | 0.03%             | 2031-06-24      | Fixed         | 2.65%                 | No            |                  2 | On Loan: No      |
| Goldman Sachs Group, Inc. (The)                                                     | Goldman Sachs Group, Inc. (The)                                                                   | CUSIP: 38145GAS9<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | DBT              | CORP              | US        |  175000000 | PA      | $171157824.25  | 0.22%             | 2037-01-21      | Fixed         | 5.07%                 | No            |                  2 | On Loan: No      |
| Wynn Resorts Finance LLC / Wynn Resorts Capital Corp.                               | Wynn Resorts Finance LLC / Wynn Resorts Capital Corp.                                             | CUSIP: 983133AD1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  110000000 | PA      | $108967584.00  | 0.14%             | 2033-03-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| Qnity Electronics, Inc.                                                             | Qnity Electronics, Inc.                                                                           | CUSIP: 74743LAB6<br>LEI: 254900RSUG4J9TFFZX53 | Long             | DBT              | CORP              | US        |   20000000 | PA      | $20247740.00   | 0.03%             | 2033-08-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| CHS/Community Health Systems, Inc.                                                  | CHS/Community Health Systems, Inc.                                                                | CUSIP: N/A<br>LEI: 5493007X5NC5XI1BB106       | Long             | DBT              | CORP              | US        |  600000000 | PA      | $639939000.00  | 0.81%             | 2033-06-15      | Fixed         | 10.75%                | No            |                  2 | On Loan: No      |
| Truist Financial Corp.                                                              | Truist Financial Corp.                                                                            | CUSIP: 89788NAA8<br>LEI: 549300DRQQI75D2JP341 | Long             | DBT              | CORP              | US        |   95000000 | PA      | $93209426.70   | 0.12%             | 2033-07-28      | Fixed         | 4.92%                 | No            |                  2 | On Loan: No      |
| Energy Transfer LP                                                                  | Energy Transfer LP                                                                                | CUSIP: 29273VAU4<br>LEI: MTLVN9N7JE8MIBIJ1H73 | Long             | DBT              | CORP              | US        |   25000000 | PA      | $27000065.50   | 0.03%             | 2033-12-01      | Fixed         | 6.55%                 | No            |                  2 | On Loan: No      |
| Clydesdale Acquisition Holdings, Inc.                                               | Clydesdale Acquisition Holdings, Inc., First Lien, 2025 Incremental Closing Date CME Term Loan, B | CUSIP: 18972FAE2<br>LEI: 254900QKSDYFR3K5YD98 | Long             | LON              | CORP              | US        |   91051780 | PA      | $85281373.67   | 0.11%             | 2032-04-01      | Variable      | 6.92%                 | No            |                  2 | On Loan: No      |
| Williams Cos., Inc. (The)                                                           | Williams Cos., Inc. (The)                                                                         | CUSIP: 969457CJ7<br>LEI: D71FAKCBLFS2O0RBPG08 | Long             | DBT              | CORP              | US        |   40000000 | PA      | $41324053.20   | 0.05%             | 2033-03-15      | Fixed         | 5.65%                 | No            |                  2 | On Loan: No      |
| NRG Energy, Inc.                                                                    | NRG Energy, Inc.                                                                                  | CUSIP: 629377CQ3<br>LEI: 5E2UPK5SW04M13XY7I38 | Long             | DBT              | CORP              | US        |   48300000 | PA      | $45812704.56   | 0.06%             | 2029-02-15      | Fixed         | 3.38%                 | No            |                  2 | On Loan: No      |
| Tronox Finance LLC                                                                  | Tronox Finance LLC, First Lien, 2024 CME Term Loan, B                                             | CUSIP: 89705DAP7<br>LEI: 549300LMZ1DX1PWSP524 | Long             | LON              | CORP              | US        |   26273425 | PA      | $20152899.66   | 0.03%             | 2031-09-30      | Variable      | 6.17%                 | No            |                  2 | On Loan: No      |
| TransDigm, Inc.                                                                     | TransDigm, Inc.                                                                                   | CUSIP: 893647BR7<br>LEI: 88Q84GB3X55CF5OC7582 | Long             | DBT              | CORP              | US        |  100000000 | PA      | $101339000.00  | 0.13%             | 2028-08-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                                | FNMA                                                                                              | CUSIP: 313586810<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | EP               | CORP              | US        |       4220 | NS      | $168800000.00  | 0.21%             |  |  |  | No            |                  2 | On Loan: No      |
| Fortescue Treasury Pty. Ltd.                                                        | Fortescue Treasury Pty. Ltd.                                                                      | CUSIP: 30251GBC0<br>LEI: 549300EFD6S2NFE9D745 | Long             | DBT              | CORP              | AU        |  155500000 | PA      | $147063269.75  | 0.19%             | 2031-04-01      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| Charles Schwab Corp. (The)                                                          | Charles Schwab Corp. (The)                                                                        | CUSIP: 808513CJ2<br>LEI: 549300VSGCJ7E698NM85 | Long             | DBT              | CORP              | US        |   40000000 | PA      | $41817319.20   | 0.05%             | 2029-11-17      | Fixed         | 6.20%                 | No            |                  2 | On Loan: No      |
| NRG Energy, Inc.                                                                    | NRG Energy, Inc.                                                                                  | CUSIP: 629377CT7<br>LEI: 5E2UPK5SW04M13XY7I38 | Long             | DBT              | CORP              | US        |   30000000 | PA      | $32493450.00   | 0.04%             | 2033-03-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| Barclays plc                                                                        | Barclays plc                                                                                      | CUSIP: 06738EBY0<br>LEI: 213800LBQA1Y9L22JB70 | Long             | DBT              | CORP              | GB        |   80000000 | PA      | $80939356.80   | 0.10%             | 2028-08-09      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| BofA Finance LLC into Albemarle Corp.                                               | BofA Finance LLC into Albemarle Corp.                                                             | CUSIP: N/A<br>LEI: 549300CGZYSEY3ZSIW16       | Long             | SN               | CORP              | US        |     825000 | NS      | $85947922.75   | 0.11%             | 2026-08-28      | Fixed         | 12.50%                | No            |                  2 | On Loan: No      |
| Ford Motor Credit Co. LLC                                                           | Ford Motor Credit Co. LLC                                                                         | CUSIP: 345397C92<br>LEI: UDSQCVRUX5BONN0VY111 | Long             | DBT              | CORP              | US        |   92000000 | PA      | $94791302.08   | 0.12%             | 2028-05-12      | Fixed         | 6.80%                 | No            |                  2 | On Loan: No      |
| Morgan Stanley Finance LLC into International Business Machines Corp.               | Morgan Stanley Finance LLC into International Business Machines Corp.                             | CUSIP: 61772E198<br>LEI: 5493003FCPSE9RKT4B56 | Long             | SN               | CORP              | US        |     850000 | NS      | $209992923.39  | 0.27%             | 2027-04-08      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| Univision Communications, Inc.                                                      | Univision Communications, Inc.                                                                    | CUSIP: 914906BA9<br>LEI: 549300YQDE2JSGTL8V47 | Long             | DBT              | CORP              | US        |   45000000 | PA      | $46411207.20   | 0.06%             | 2032-08-01      | Fixed         | 9.38%                 | No            |                  2 | On Loan: No      |
| Pacific Gas and Electric Co.                                                        | Pacific Gas and Electric Co.                                                                      | CUSIP: 694308JM0<br>LEI: 1HNPXZSMMB7HMBMVBS46 | Long             | DBT              | CORP              | US        |  116500000 | PA      | $114962206.99  | 0.15%             | 2030-07-01      | Fixed         | 4.55%                 | No            |                  2 | On Loan: No      |
| VICI Properties LP / VICI Note Co., Inc.                                            | VICI Properties LP / VICI Note Co., Inc.                                                          | CUSIP: 92564RAA3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  100000000 | PA      | $99743594.00   | 0.13%             | 2026-12-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| Capital One Financial Corp.                                                         | Capital One Financial Corp.                                                                       | CUSIP: 14040HCZ6<br>LEI: ZUE8T73ROZOF6FLBAR73 | Long             | DBT              | CORP              | US        |   75000000 | PA      | $77594510.25   | 0.10%             | 2029-06-08      | Fixed         | 6.31%                 | No            |                  2 | On Loan: No      |
| US Bancorp                                                                          | US Bancorp                                                                                        | CUSIP: 91159HJM3<br>LEI: N1GZ7BBF3NP8GI976H15 | Long             | DBT              | CORP              | US        |   40000000 | PA      | $41149693.60   | 0.05%             | 2029-06-12      | Fixed         | 5.78%                 | No            |                  2 | On Loan: No      |
| FHLMC Pool                                                                          | FHLMC Pool, 30 Year                                                                               | CUSIP: 3132DWG80<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |  145290290 | PA      | $144060756.63  | 0.18%             | 2053-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| United States of America                                                            | U.S. Treasury Bonds                                                                               | CUSIP: 912810UP1<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  500000000 | PA      | $477812500.00  | 0.61%             | 2055-11-15      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| Tenet Healthcare Corp.                                                              | Tenet Healthcare Corp.                                                                            | CUSIP: 88033GDM9<br>LEI: 0W9AIBT6U6ADJ2I8HK17 | Long             | DBT              | CORP              | US        |   95000000 | PA      | $92176234.25   | 0.12%             | 2029-06-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| Tronox, Inc.                                                                        | Tronox, Inc.                                                                                      | CUSIP: 897051AD0<br>LEI: 549300EPZ4YXC7E5P181 | Long             | DBT              | CORP              | US        |  207000000 | PA      | $206939825.10  | 0.26%             | 2030-09-30      | Fixed         | 9.12%                 | No            |                  2 | On Loan: No      |
| Abbott Laboratories                                                                 | Abbott Laboratories                                                                               | CUSIP: 002824100<br>LEI: HQD377W2YR662HK5JX27 | Long             | EC               | CORP              | US        |    5700000 | NS      | $585219000.00  | 0.74%             |  |  |  | No            |                  1 | On Loan: No      |
| Goldman Sachs Group, Inc. (The)                                                     | Goldman Sachs Group, Inc. (The)                                                                   | CUSIP: 38145GAU4<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | DBT              | CORP              | US        |  190000000 | PA      | $183638218.60  | 0.23%             | 2041-02-02      | Fixed         | 5.39%                 | No            |                  2 | On Loan: No      |
| International Paper Co.                                                             | International Paper Co.                                                                           | CUSIP: 460146103<br>LEI: 824LMFJDH41EY779Q875 | Long             | EC               | CORP              | US        |    4000000 | NS      | $142800000.00  | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| Barclays Bank plc into Capital One Financial Corp.                                  | Barclays Bank plc into Capital One Financial Corp.                                                | CUSIP: N/A<br>LEI: N/A                        | Long             | SN               | CORP              | US        |    1485000 | NS      | $275556530.21  | 0.35%             | 2027-03-10      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| Medtronic plc                                                                       | Medtronic plc                                                                                     | CUSIP: N/A<br>LEI: 549300GX3ZBSQWUXY261       | Long             | EC               | CORP              | IE        |    2500000 | NS      | $216625000.00  | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| Air Products and Chemicals, Inc.                                                    | Air Products and Chemicals, Inc.                                                                  | CUSIP: 009158106<br>LEI: 7QEON6Y1RL5XR3R1W237 | Long             | EC               | CORP              | US        |    2500000 | NS      | $726225000.00  | 0.92%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                                                                 | Procter & Gamble Co. (The)                                                                        | CUSIP: 00PBCGGH7<br>LEI: N/A                  | N/A              | DE               |  | US        |     -10000 | NC      | $-3400000.00   | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| Boeing Co. (The)                                                                    | Boeing Co. (The)                                                                                  | CUSIP: 097023DS1<br>LEI: RVHJWBXLJ1RFUBSY1F30 | Long             | DBT              | CORP              | US        |   35000000 | PA      | $38141588.80   | 0.05%             | 2034-05-01      | Fixed         | 6.53%                 | No            |                  2 | On Loan: No      |
| Hilton Domestic Operating Co., Inc.                                                 | Hilton Domestic Operating Co., Inc.                                                               | CUSIP: 432833AQ4<br>LEI: 5493003EG7H0N1E4XV50 | Long             | DBT              | CORP              | US        |   40000000 | PA      | $40702520.00   | 0.05%             | 2032-04-01      | Fixed         | 6.12%                 | No            |                  2 | On Loan: No      |
| OPAL US LLC                                                                         | OPAL US LLC, First Lien, CME Term Loan, B4                                                        | CUSIP: F7000QAC5<br>LEI: N/A                  | Long             | LON              | CORP              | US        |  139300000 | PA      | $139387062.50  | 0.18%             | 2032-04-28      | Variable      | 6.70%                 | No            |                  2 | On Loan: No      |
| RTX Corp.                                                                           | RTX Corp.                                                                                         | CUSIP: 75513ECW9<br>LEI: I07WOS4YJ0N7YRFE7309 | Long             | DBT              | CORP              | US        |   25000000 | PA      | $26931016.25   | 0.03%             | 2034-03-15      | Fixed         | 6.10%                 | No            |                  2 | On Loan: No      |
| GE HealthCare Technologies, Inc.                                                    | GE HealthCare Technologies, Inc.                                                                  | CUSIP: 36267VAK9<br>LEI: 549300OI9J7XOWZMUN85 | Long             | DBT              | CORP              | US        |  105000000 | PA      | $110804806.35  | 0.14%             | 2032-11-22      | Fixed         | 5.91%                 | No            |                  2 | On Loan: No      |
| Beach Acquisition Bidco LLC                                                         | Beach Acquisition Bidco LLC                                                                       | CUSIP: 07337JAC1<br>LEI: 254900F2FNX3GBTB6202 | Long             | DBT              | CORP              | US        |  231890694 | PA      | $247135723.89  | 0.31%             | 2033-07-15      | Fixed         | 10.00%                | No            |                  2 | On Loan: No      |
| BX Frontier Member I LLC                                                            | BX Frontier Member II LLC                                                                         | CUSIP: N/A<br>LEI: 254900BBMW3BLRP8ZL27       | Long             | DBT              | CORP              | US        |   84626155 | PA      | $84626155.00   | 0.11%             | 2060-12-31      | Fixed         | 6.10%                 | Yes           |                  3 | On Loan: No      |
| Philip Morris International, Inc.                                                   | Philip Morris International, Inc.                                                                 | CUSIP: 718172109<br>LEI: HL3H1H2BGXWVG3BSWR90 | Long             | EC               | CORP              | US        |    1000000 | NS      | $165340000.00  | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| Goldman Sachs Group, Inc. (The)                                                     | Goldman Sachs Group, Inc. (The)                                                                   | CUSIP: 38141GFD1<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | DBT              | CORP              | US        |   60000000 | PA      | $64760299.80   | 0.08%             | 2037-10-01      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| Vistra Operations Co. LLC                                                           | Vistra Operations Co. LLC                                                                         | CUSIP: 92840VAQ5<br>LEI: 549300ZH5GKBTJZ7NM23 | Long             | DBT              | CORP              | US        |   75000000 | PA      | $81662850.00   | 0.10%             | 2033-10-15      | Fixed         | 6.95%                 | No            |                  2 | On Loan: No      |
| American Airlines, Inc. / AAdvantage Loyalty IP Ltd.                                | American Airlines, Inc. / AAdvantage Loyalty IP Ltd.                                              | CUSIP: 00253XAA9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   19875000 | PA      | $19902427.12   | 0.03%             | 2026-04-20      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Morgan Stanley                                                                      | Morgan Stanley                                                                                    | CUSIP: 61747YFE0<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |  220000000 | PA      | $220765560.40  | 0.28%             | 2034-04-21      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Comcast Corp.                                                                       | Comcast Corp., Class A                                                                            | CUSIP: 20030N101<br>LEI: 51M0QTTNCGUN7KFCFZ59 | Long             | EC               | CORP              | US        |    8000000 | NS      | $229680000.00  | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| Xcel Energy, Inc.                                                                   | Xcel Energy, Inc.                                                                                 | CUSIP: 98389B100<br>LEI: LGJNMI9GH8XIDG5RCM61 | Long             | EC               | CORP              | US        |    3000000 | NS      | $238320000.00  | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| Barclays Bank plc into Microchip Technology, Inc.                                   | Barclays Bank plc into Microchip Technology, Inc.                                                 | CUSIP: N/A<br>LEI: N/A                        | Long             | SN               | CORP              | GB        |    3100000 | NS      | $194882436.45  | 0.25%             | 2026-10-05      | Fixed         | 10.00%                | No            |                  2 | On Loan: No      |
| United States of America                                                            | U.S. Treasury Bonds                                                                               | CUSIP: 912810UK2<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  750000000 | PA      | $730517580.00  | 0.93%             | 2055-05-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| United Rentals North America, Inc.                                                  | United Rentals North America, Inc.                                                                | CUSIP: 911365BQ6<br>LEI: NGIZXNT70J2LYT3FBI09 | Long             | DBT              | CORP              | US        |   73800000 | PA      | $75080872.80   | 0.10%             | 2029-12-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| GNMA                                                                                | GNMA II, Single-family, 30 Year                                                                   | CUSIP: 3618N56K0<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |  209090822 | PA      | $213306113.68  | 0.27%             | 2056-01-20      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Bank of America Corp.                                                               | Bank of America Corp.                                                                             | CUSIP: 06051GMB2<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |   90000000 | PA      | $89830335.60   | 0.11%             | 2035-08-15      | Fixed         | 5.42%                 | No            |                  2 | On Loan: No      |
| United States of America                                                            | U.S. Treasury Bonds                                                                               | CUSIP: 912810UE6<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  500000000 | PA      | $467226560.00  | 0.59%             | 2054-11-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Cloud Software Group, Inc.                                                          | Cloud Software Group, Inc.                                                                        | CUSIP: 18912UAA0<br>LEI: 04EEB871XLHVNY4RZJ65 | Long             | DBT              | CORP              | US        |   65000000 | PA      | $62765859.00   | 0.08%             | 2029-09-30      | Fixed         | 9.00%                 | No            |                  2 | On Loan: No      |
| Barclays plc                                                                        | Barclays plc                                                                                      | CUSIP: 06738ECH6<br>LEI: 213800LBQA1Y9L22JB70 | Long             | DBT              | CORP              | GB        |   55000000 | PA      | $59872833.90   | 0.08%             | 2034-06-27      | Fixed         | 7.12%                 | No            |                  2 | On Loan: No      |
| Millrose Properties, Inc.                                                           | Millrose Properties, Inc.                                                                         | CUSIP: 601137AA0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   50000000 | PA      | $50018195.00   | 0.06%             | 2030-08-01      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| FHLMC Pool                                                                          | FHLMC Pool, 30 Year                                                                               | CUSIP: 3132DWNK5<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |  166926110 | PA      | $167858589.14  | 0.21%             | 2055-01-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Qnity Electronics, Inc.                                                             | Qnity Electronics, Inc.                                                                           | CUSIP: 74743LAA8<br>LEI: 254900RSUG4J9TFFZX53 | Long             | DBT              | CORP              | US        |   35000000 | PA      | $35085435.00   | 0.04%             | 2032-08-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Shea Homes LP / Shea Homes Funding Corp.                                            | Shea Homes LP / Shea Homes Funding Corp.                                                          | CUSIP: 82088KAK4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   25000000 | PA      | $24591662.50   | 0.03%             | 2028-02-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| Teva Pharmaceutical Finance Netherlands III BV                                      | Teva Pharmaceutical Finance Netherlands III BV                                                    | CUSIP: 88167AAR2<br>LEI: 5493004T21MOAFINJP35 | Long             | DBT              | CORP              | NL        |   30000000 | PA      | $33575100.00   | 0.04%             | 2031-09-15      | Fixed         | 8.12%                 | No            |                  2 | On Loan: No      |
| BAT Capital Corp.                                                                   | BAT Capital Corp.                                                                                 | CUSIP: 054989AB4<br>LEI: 2138005GYEXN7XRHFA84 | Long             | DBT              | CORP              | US        |   53500000 | PA      | $58045105.88   | 0.07%             | 2033-08-02      | Fixed         | 6.42%                 | No            |                  2 | On Loan: No      |
| US Bancorp                                                                          | US Bancorp                                                                                        | CUSIP: 902973304<br>LEI: N1GZ7BBF3NP8GI976H15 | Long             | EC               | CORP              | US        |    6500000 | NS      | $338065000.00  | 0.43%             |  |  |  | No            |                  1 | On Loan: No      |
| Salesforce, Inc.                                                                    | Salesforce, Inc.                                                                                  | CUSIP: 79466LAU8<br>LEI: RCGZFPDMRW58VJ54VR07 | Long             | DBT              | CORP              | US        |  190000000 | PA      | $189480652.10  | 0.24%             | 2036-03-15      | Fixed         | 5.55%                 | No            |                  2 | On Loan: No      |
| Newell Brands, Inc.                                                                 | Newell Brands, Inc.                                                                               | CUSIP: 651229BG0<br>LEI: 549300LWGYFM1TVO1Z12 | Long             | DBT              | CORP              | US        |   65000000 | PA      | $67128750.00   | 0.09%             | 2028-06-01      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| United States of America                                                            | U.S. Treasury Notes                                                                               | CUSIP: 91282CHT1<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        | 1500000000 | PA      | $1472783205.00 | 1.87%             | 2033-08-15      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| Medline Borrower LP / Medline Co-Issuer, Inc.                                       | Medline Borrower LP / Medline Co-Issuer, Inc.                                                     | CUSIP: 58506DAA6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   75000000 | PA      | $76517466.00   | 0.10%             | 2029-04-01      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| Ford Motor Credit Co. LLC                                                           | Ford Motor Credit Co. LLC                                                                         | CUSIP: 345397G98<br>LEI: UDSQCVRUX5BONN0VY111 | Long             | DBT              | CORP              | US        |   80000000 | PA      | $82137140.80   | 0.10%             | 2032-03-19      | Fixed         | 6.53%                 | No            |                  2 | On Loan: No      |
| Ardagh Metal Packaging Finance USA LLC / Ardagh Metal Packaging Finance plc         | Ardagh Metal Packaging Finance USA LLC / Ardagh Metal Packaging Finance plc                       | CUSIP: 03969YAB4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   21000000 | PA      | $19244219.40   | 0.02%             | 2029-09-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Cisco Systems, Inc.                                                                 | Cisco Systems, Inc.                                                                               | CUSIP: 17275R102<br>LEI: 549300LKFJ962MZ46593 | Long             | EC               | CORP              | US        |    6000000 | NS      | $465540000.00  | 0.59%             |  |  |  | No            |                  1 | On Loan: No      |
| Oracle Corp.                                                                        | Oracle Corp.                                                                                      | CUSIP: 68389XDZ5<br>LEI: 1Z4GXXU7ZHVWFCD8TV52 | Long             | DBT              | CORP              | US        |   85000000 | PA      | $81763345.35   | 0.10%             | 2036-02-04      | Fixed         | 5.70%                 | No            |                  2 | On Loan: No      |
| Expedia Group, Inc.                                                                 | Expedia Group, Inc.                                                                               | CUSIP: 30212PAR6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   60000000 | PA      | $56714650.20   | 0.07%             | 2030-02-15      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| Pacific Gas and Electric Co.                                                        | Pacific Gas and Electric Co.                                                                      | CUSIP: 694308KL0<br>LEI: 1HNPXZSMMB7HMBMVBS46 | Long             | DBT              | CORP              | US        |   49000000 | PA      | $50719621.19   | 0.06%             | 2029-01-15      | Fixed         | 6.10%                 | No            |                  2 | On Loan: No      |
| HCA, Inc.                                                                           | HCA, Inc.                                                                                         | CUSIP: 404121AJ4<br>LEI: L3CJ6J7LJ2DX62FTXD46 | Long             | DBT              | CORP              | US        |  115000000 | PA      | $117325875.00  | 0.15%             | 2028-09-01      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| Charles Schwab Corp. (The)                                                          | Charles Schwab Corp. (The), Series I                                                              | CUSIP: 808513BK0<br>LEI: 549300VSGCJ7E698NM85 | Long             | DBT              | CORP              | US        |   50000000 | PA      | $49692350.00   | 0.06%             | 2026-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| QXO, Inc.                                                                           | QXO, Inc., Series C                                                                               | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |      16000 | NS      | $160000000.00  | 0.20%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Dow Chemical Co. (The)                                                              | Dow Chemical Co. (The)                                                                            | CUSIP: 260543DG5<br>LEI: ZQUIP1CSZO8LXRBSOU78 | Long             | DBT              | CORP              | US        |   35000000 | PA      | $36735848.45   | 0.05%             | 2033-03-15      | Fixed         | 6.30%                 | No            |                  2 | On Loan: No      |
| United Rentals North America, Inc.                                                  | United Rentals North America, Inc.                                                                | CUSIP: 911365BP8<br>LEI: NGIZXNT70J2LYT3FBI09 | Long             | DBT              | CORP              | US        |   31000000 | PA      | $28450969.20   | 0.04%             | 2032-01-15      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| Bank of America Corp.                                                               | Bank of America Corp.                                                                             | CUSIP: 06051GKQ1<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |  120000000 | PA      | $117953707.20  | 0.15%             | 2033-04-27      | Fixed         | 4.57%                 | No            |                  2 | On Loan: No      |
| PepsiCo, Inc.                                                                       | PepsiCo, Inc.                                                                                     | CUSIP: 713448108<br>LEI: FJSUNZKFNQ5YPJ5OT455 | Long             | EC               | CORP              | US        |    5000000 | NS      | $776450000.00  | 0.99%             |  |  |  | No            |                  1 | On Loan: No      |
| Celanese US Holdings LLC                                                            | Celanese US Holdings LLC                                                                          | CUSIP: 15089QAP9<br>LEI: CD30XVRLT4QO00B1C706 | Long             | DBT              | CORP              | US        |  105000000 | PA      | $109691820.00  | 0.14%             | 2032-07-15      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| Fifth Third Bancorp                                                                 | Fifth Third Bancorp                                                                               | CUSIP: 316773100<br>LEI: THRNG6BD57P9QWTQLG42 | Long             | EC               | CORP              | US        |    7000000 | NS      | $325220000.00  | 0.41%             |  |  |  | No            |                  1 | On Loan: No      |
| Freeport-McMoRan, Inc.                                                              | Freeport-McMoRan, Inc.                                                                            | CUSIP: 35671DCD5<br>LEI: 549300IRDTHJQ1PVET45 | Long             | DBT              | CORP              | US        |   40000000 | PA      | $40353109.60   | 0.05%             | 2029-09-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Franklin Institutional U.S. Government Money Market Fund                            | Franklin Institutional U.S. Government Money Market Fund                                          | CUSIP: N/A<br>LEI: 549300M4TP89K77LG374       | Long             | STIV             | RF                | US        |    3172000 | NS      | $3172000.00    | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Tenet Healthcare Corp.                                                              | Tenet Healthcare Corp.                                                                            | CUSIP: 88033GAV2<br>LEI: 0W9AIBT6U6ADJ2I8HK17 | Long             | DBT              | CORP              | US        |   55258000 | PA      | $58927352.23   | 0.07%             | 2031-11-15      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| JPMorgan Chase & Co.                                                                | JPMorgan Chase & Co.                                                                              | CUSIP: 46625H100<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | EC               | CORP              | US        |     400000 | NS      | $117664000.00  | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| Wells Fargo Bank NA into NextEra Energy, Inc.                                       | Wells Fargo Bank NA into NextEra Energy, Inc.                                                     | CUSIP: 95004P449<br>LEI: KB1H1DSPRFMYMCUFXT09 | Long             | SN               | CORP              | US        |    2500000 | NS      | $219697952.20  | 0.28%             | 2026-10-22      | Fixed         | 9.50%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                                | FNMA, 30 Year                                                                                     | CUSIP: 31418ER77<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |  144239869 | PA      | $143011819.00  | 0.18%             | 2053-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Micron Technology, Inc.                                                             | Micron Technology, Inc.                                                                           | CUSIP: 595112BZ5<br>LEI: B3DXGBC8GAIYWI2Z0172 | Long             | DBT              | CORP              | US        |   40000000 | PA      | $42796490.00   | 0.05%             | 2033-02-09      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| Pilgrim's Pride Corp.                                                               | Pilgrim's Pride Corp.                                                                             | CUSIP: 72147KAL2<br>LEI: 549300ZSLGV64ZL3HD75 | Long             | DBT              | CORP              | US        |   40000000 | PA      | $43232520.00   | 0.05%             | 2034-05-15      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| Ford Motor Credit Co. LLC                                                           | Ford Motor Credit Co. LLC                                                                         | CUSIP: 345397D26<br>LEI: UDSQCVRUX5BONN0VY111 | Long             | DBT              | CORP              | US        |   35000000 | PA      | $35083609.05   | 0.04%             | 2026-06-10      | Fixed         | 6.95%                 | No            |                  2 | On Loan: No      |
| Matador Resources Co.                                                               | Matador Resources Co.                                                                             | CUSIP: 576485AG1<br>LEI: 549300CI3Q2UUK5R4G79 | Long             | DBT              | CORP              | US        |   35000000 | PA      | $35406701.05   | 0.05%             | 2032-04-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Wells Fargo Bank NA into Amazon.com, Inc.                                           | Wells Fargo Bank NA into Amazon.com, Inc.                                                         | CUSIP: N/A<br>LEI: N/A                        | Long             | SN               | CORP              | US        |    1700000 | NS      | $344163968.95  | 0.44%             | 2027-02-26      | Fixed         | 9.00%                 | No            |                  2 | On Loan: No      |
| United Airlines Holdings, Inc.                                                      | United Airlines Holdings, Inc.                                                                    | CUSIP: 910047AL3<br>LEI: 98450079DA0B78DD6764 | Long             | DBT              | CORP              | US        |   65000000 | PA      | $63736835.50   | 0.08%             | 2031-03-01      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| FHLMC Pool                                                                          | FHLMC Pool, 30 Year                                                                               | CUSIP: 3132DWNX7<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |  165197988 | PA      | $166120813.85  | 0.21%             | 2055-02-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| GNMA                                                                                | GNMA II, Single-family, 30 Year                                                                   | CUSIP: 3618N5TP4<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |  353043556 | PA      | $359303823.49  | 0.46%             | 2055-08-20      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Citigroup Global Markets Holdings, Inc. into International Business Machines Corp.  | Citigroup Global Markets Holdings, Inc. into International Business Machines Corp.                | CUSIP: N/A<br>LEI: 82VOJDD5PTRDMVVMGV31       | Long             | SN               | CORP              | US        |     975000 | NS      | $231917697.47  | 0.29%             | 2026-08-21      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| Genmab A/S / Genmab Finance LLC                                                     | Genmab A/S / Genmab Finance LLC                                                                   | CUSIP: 37230JAA0<br>LEI: N/A                  | Long             | DBT              | CORP              | DK        |   80000000 | PA      | $82076560.00   | 0.10%             | 2032-12-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| Weatherford International Ltd.                                                      | Weatherford International Ltd.                                                                    | CUSIP: 947075AU1<br>LEI: 549300A2JKMG5PGOGF82 | Long             | DBT              | CORP              | BM        |   89812000 | PA      | $91587852.68   | 0.12%             | 2030-04-30      | Fixed         | 8.62%                 | No            |                  2 | On Loan: No      |
| Lowe's Cos., Inc.                                                                   | Lowe's Cos., Inc.                                                                                 | CUSIP: 548661107<br>LEI: WAFCR4OKGSC504WU3E95 | Long             | EC               | CORP              | US        |     500000 | NS      | $118140000.00  | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| SCIH Salt Holdings, Inc.                                                            | SCIH Salt Holdings, Inc., First Lien, CME Term Loan, B1                                           | CUSIP: 78397GAM3<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   19850000 | PA      | $19825187.50   | 0.03%             | 2029-01-31      | Variable      | 6.35%                 | No            |                  2 | On Loan: No      |
| J.P. Morgan Structured Products BV into Taiwan Semiconductor Manufacturing Co. Ltd. | J.P. Morgan Structured Products BV into Taiwan Semiconductor Manufacturing Co. Ltd.               | CUSIP: N/A<br>LEI: XZYUUT6IYN31D9K77X08       | Long             | SN               | CORP              | NL        |     615000 | NS      | $131011482.74  | 0.17%             | 2026-04-15      | Fixed         | 10.00%                | No            |                  2 | On Loan: No      |
| JPMorgan Chase & Co.                                                                | JPMorgan Chase & Co., Series II                                                                   | CUSIP: 48128BAH4<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | DBT              | CORP              | US        |   35000000 | PA      | $35175245.00   | 0.04%             | 2026-07-01      | Floating      | 6.41%                 | No            |                  2 | On Loan: No      |
| HP, Inc.                                                                            | HP, Inc.                                                                                          | CUSIP: 40434LAN5<br>LEI: WHKXQACZ14C5XRO8LW03 | Long             | DBT              | CORP              | US        |   35000000 | PA      | $35448742.00   | 0.05%             | 2033-01-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| SLB Ltd.                                                                            | SLB Ltd.                                                                                          | CUSIP: 806857108<br>LEI: 213800ZUA17OK3QLGM62 | Long             | EC               | CORP              | CW        |     650000 | NS      | $33403500.00   | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| NRG Energy, Inc.                                                                    | NRG Energy, Inc.                                                                                  | CUSIP: 629377DD1<br>LEI: 5E2UPK5SW04M13XY7I38 | Long             | DBT              | CORP              | US        |  150000000 | PA      | $148725315.00  | 0.19%             | 2036-01-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Lowe's Cos., Inc.                                                                   | Lowe's Cos., Inc.                                                                                 | CUSIP: 548661EL7<br>LEI: WAFCR4OKGSC504WU3E95 | Long             | DBT              | CORP              | US        |   17000000 | PA      | $17099734.41   | 0.02%             | 2033-04-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Mizuho Markets Cayman LP into Amgen, Inc.                                           | Mizuho Markets Cayman LP into Amgen, Inc.                                                         | CUSIP: 60701E352<br>LEI: 549300KHUXLS6Q30KT26 | Long             | SN               | CORP              | KY        |     855000 | NS      | $263145259.56  | 0.33%             | 2026-06-15      | Fixed         | 10.00%                | No            |                  2 | On Loan: No      |
| Mineral Resources Ltd.                                                              | Mineral Resources Ltd.                                                                            | CUSIP: 603051AD5<br>LEI: 5299007V1ACKFFX2P066 | Long             | DBT              | CORP              | AU        |   25000000 | PA      | $25721415.75   | 0.03%             | 2030-05-01      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| American Electric Power Co., Inc.                                                   | American Electric Power Co., Inc.                                                                 | CUSIP: 025537AW1<br>LEI: 1B4S6S7G0TW5EE83BO58 | Long             | DBT              | CORP              | US        |   30000000 | PA      | $31721844.90   | 0.04%             | 2032-11-01      | Fixed         | 5.95%                 | No            |                  2 | On Loan: No      |
| Weatherford International Ltd.                                                      | Weatherford International Ltd.                                                                    | CUSIP: 947075AW7<br>LEI: 549300A2JKMG5PGOGF82 | Long             | DBT              | CORP              | BM        |   55000000 | PA      | $56233045.00   | 0.07%             | 2033-10-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| Endo Finance Holdings LP                                                            | Endo Finance Holdings LP                                                                          | CUSIP: 29281RAA7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   50000000 | PA      | $52392450.00   | 0.07%             | 2031-04-15      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| MPH Acquisition Holdings LLC                                                        | MPH Acquisition Holdings LLC                                                                      | CUSIP: 553283AF9<br>LEI: 5493002WXOPRPTXWTU06 | Long             | DBT              | CORP              | US        |   51036948 | PA      | $46185005.19   | 0.06%             | 2030-12-31      | Fixed         | 11.50%                | No            |                  2 | On Loan: No      |
| Goldman Sachs Group, Inc. (The)                                                     | Goldman Sachs Group, Inc. (The)                                                                   | CUSIP: 38141GA95<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | DBT              | CORP              | US        |   65000000 | PA      | $67471229.80   | 0.09%             | 2035-04-25      | Fixed         | 5.85%                 | No            |                  2 | On Loan: No      |
| CCO Holdings LLC / CCO Holdings Capital Corp.                                       | CCO Holdings LLC / CCO Holdings Capital Corp.                                                     | CUSIP: 1248EPCS0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  135000000 | PA      | $135500715.00  | 0.17%             | 2029-09-01      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| Organon & Co. / Organon Foreign Debt Co-Issuer BV                                   | Organon & Co. / Organon Foreign Debt Co-Issuer BV                                                 | CUSIP: 68622TAA9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   60000000 | PA      | $58256007.60   | 0.07%             | 2028-04-30      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| NextEra Energy, Inc.                                                                | NextEra Energy, Inc.                                                                              | CUSIP: 65339F119<br>LEI: 254900RHL9MEUS5NKX63 | Long             | EP               | CORP              | US        |    4500000 | NS      | $236430000.00  | 0.30%             |  |  |  | No            |                  1 | On Loan: —       |
| Chevron Corp.                                                                       | Chevron Corp.                                                                                     | CUSIP: 166764100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    7500000 | NS      | $1551750000.00 | 1.97%             |  |  |  | No            |                  1 | On Loan: No      |
| Venture Global LNG, Inc.                                                            | Venture Global LNG, Inc.                                                                          | CUSIP: 92332YAB7<br>LEI: 54930011XLBUWMQUC829 | Long             | DBT              | CORP              | US        |  260000000 | PA      | $270528788.40  | 0.34%             | 2031-06-01      | Fixed         | 8.38%                 | No            |                  2 | On Loan: No      |
| Cigna Group (The)                                                                   | Cigna Group (The)                                                                                 | CUSIP: 125523100<br>LEI: 549300VIWYMSIGT1U456 | Long             | EC               | CORP              | US        |     500000 | NS      | $133375000.00  | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| Royal Bank of Canada into Texas Instruments, Inc.                                   | Royal Bank of Canada into Texas Instruments, Inc.                                                 | CUSIP: N/A<br>LEI: ES7IP3U3RHIGC71XBU11       | Long             | SN               | CORP              | CA        |    1560000 | NS      | $293978591.71  | 0.37%             | 2026-08-20      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| Boeing Co. (The)                                                                    | Boeing Co. (The)                                                                                  | CUSIP: 097023CY9<br>LEI: RVHJWBXLJ1RFUBSY1F30 | Long             | DBT              | CORP              | US        |  243000000 | PA      | $247155197.94  | 0.31%             | 2030-05-01      | Fixed         | 5.15%                 | No            |                  2 | On Loan: No      |
| J.P. Morgan Structured Products BV into Accenture plc                               | J.P. Morgan Structured Products BV into Accenture plc                                             | CUSIP: N/A<br>LEI: N/A                        | Long             | SN               | CORP              | US        |     900000 | NS      | $177243811.92  | 0.23%             | 2027-04-05      | Fixed         | 10.00%                | No            |                  2 | On Loan: No      |
| EMRLD Borrower LP / Emerald Co-Issuer, Inc.                                         | EMRLD Borrower LP / Emerald Co-Issuer, Inc.                                                       | CUSIP: 29103CAA6<br>LEI: 5493000GJYE7GAQCUC61 | Long             | DBT              | CORP              | US        |   50000000 | PA      | $50915450.00   | 0.06%             | 2030-12-15      | Fixed         | 6.62%                 | No            |                  2 | On Loan: No      |
| United States of America                                                            | U.S. Treasury Bonds                                                                               | CUSIP: 912810TT5<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  750000000 | PA      | $657949215.00  | 0.84%             | 2053-08-15      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| PG&E Corp.                                                                          | PG&E Corp.                                                                                        | CUSIP: 69331CAH1<br>LEI: 8YQ2GSDWYZXO2EDN3511 | Long             | DBT              | CORP              | US        |  107284000 | PA      | $106506995.63  | 0.14%             | 2028-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Target Corp.                                                                        | Target Corp.                                                                                      | CUSIP: 87612E106<br>LEI: 8WDDFXB5T1Z6J0XC1L66 | Long             | EC               | CORP              | US        |    1500000 | NS      | $181800000.00  | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| FHLMC Pool                                                                          | FHLMC Pool, 30 Year                                                                               | CUSIP: 3132DWMX8<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |  536405351 | PA      | $529746269.80  | 0.67%             | 2054-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Hilcorp Energy I LP / Hilcorp Finance Co.                                           | Hilcorp Energy I LP / Hilcorp Finance Co.                                                         | CUSIP: 431318BG8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  110000000 | PA      | $109749695.00  | 0.14%             | 2035-02-15      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| ConocoPhillips                                                                      | ConocoPhillips                                                                                    | CUSIP: 20825C104<br>LEI: WPTL2Z3FIYTHSP5V2253 | Long             | EC               | CORP              | US        |    1000000 | NS      | $132000000.00  | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| Vistra Operations Co. LLC                                                           | Vistra Operations Co. LLC                                                                         | CUSIP: 92840VAE2<br>LEI: 549300ZH5GKBTJZ7NM23 | Long             | DBT              | CORP              | US        |   35000000 | PA      | $34413992.90   | 0.04%             | 2029-07-15      | Fixed         | 4.30%                 | No            |                  2 | On Loan: No      |
| Morgan Stanley                                                                      | Morgan Stanley                                                                                    | CUSIP: 61747YFJ9<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |   30000000 | PA      | $32655653.40   | 0.04%             | 2034-11-01      | Fixed         | 6.63%                 | No            |                  2 | On Loan: No      |
| Southern Co. (The)                                                                  | Southern Co. (The)                                                                                | CUSIP: 842587DL8<br>LEI: 549300FC3G3YU2FBZD92 | Long             | DBT              | CORP              | US        |   45000000 | PA      | $47117083.95   | 0.06%             | 2032-10-15      | Fixed         | 5.70%                 | No            |                  2 | On Loan: No      |
| BNP Paribas Issuance BV into Target Corp.                                           | BNP Paribas Issuance BV into Target Corp.                                                         | CUSIP: N/A<br>LEI: 7245009UXRIGIRYOBR48       | Long             | SN               | CORP              | NL        |    3000000 | NS      | $311005410.30  | 0.40%             | 2026-10-07      | Fixed         | 11.00%                | No            |                  2 | On Loan: No      |
| KeyBank NA                                                                          | KeyBank NA                                                                                        | CUSIP: 49327V2C7<br>LEI: HUX2X73FUCYHUVH1BK78 | Long             | DBT              | CORP              | US        |   35000000 | PA      | $34425055.35   | 0.04%             | 2032-08-08      | Fixed         | 4.90%                 | No            |                  2 | On Loan: No      |
| Herc Holdings, Inc.                                                                 | Herc Holdings, Inc.                                                                               | CUSIP: 42704LAF1<br>LEI: 549300TP80QLITMSBP82 | Long             | DBT              | CORP              | US        |   35000000 | PA      | $35912940.00   | 0.05%             | 2030-06-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| SCIH Salt Holdings, Inc.                                                            | SCIH Salt Holdings, Inc.                                                                          | CUSIP: 78433BAA6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   65000000 | PA      | $64296914.50   | 0.08%             | 2028-05-01      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| Energy Transfer LP                                                                  | Energy Transfer LP                                                                                | CUSIP: 29273VBA7<br>LEI: MTLVN9N7JE8MIBIJ1H73 | Long             | DBT              | CORP              | US        |   24400000 | PA      | $24876441.72   | 0.03%             | 2034-09-01      | Fixed         | 5.60%                 | No            |                  2 | On Loan: No      |
| Venture Global Plaquemines LNG LLC                                                  | Venture Global Plaquemines LNG LLC                                                                | CUSIP: 922966AE6<br>LEI: 549300TKP4I6OJ02BF90 | Long             | DBT              | CORP              | US        |   40000000 | PA      | $41159040.00   | 0.05%             | 2030-12-15      | Fixed         | 6.12%                 | No            |                  2 | On Loan: No      |
| Toronto-Dominion Bank (The) into Intel Corp.                                        | Toronto-Dominion Bank (The) into Intel Corp.                                                      | CUSIP: 89112B160<br>LEI: PT3QB789TSUIDF371261 | Long             | SN               | CORP              | CA        |    8450000 | NS      | $257317752.00  | 0.33%             | 2026-09-01      | Fixed         | 10.50%                | No            |                  2 | On Loan: No      |
| Wells Fargo & Co.                                                                   | Wells Fargo & Co.                                                                                 | CUSIP: 95000U3B7<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | DBT              | CORP              | US        |   50000000 | PA      | $49765428.50   | 0.06%             | 2033-07-25      | Fixed         | 4.90%                 | No            |                  2 | On Loan: No      |
| Boeing Co. (The)                                                                    | Boeing Co. (The)                                                                                  | CUSIP: 097023CJ2<br>LEI: RVHJWBXLJ1RFUBSY1F30 | Long             | DBT              | CORP              | US        |   25000000 | PA      | $22389136.75   | 0.03%             | 2034-05-01      | Fixed         | 3.60%                 | No            |                  2 | On Loan: No      |
| Kinder Morgan, Inc.                                                                 | Kinder Morgan, Inc.                                                                               | CUSIP: 49456BAX9<br>LEI: 549300WR7IX8XE0TBO16 | Long             | DBT              | CORP              | US        |   67000000 | PA      | $68138240.89   | 0.09%             | 2033-06-01      | Fixed         | 5.20%                 | No            |                  2 | On Loan: No      |
| Broadcom, Inc.                                                                      | Broadcom, Inc.                                                                                    | CUSIP: 11135FAS0<br>LEI: 549300WV6GIDOZJTV909 | Long             | DBT              | CORP              | US        |   80000000 | PA      | $77935639.20   | 0.10%             | 2032-11-15      | Fixed         | 4.30%                 | No            |                  2 | On Loan: No      |
| CCO Holdings LLC / CCO Holdings Capital Corp.                                       | CCO Holdings LLC / CCO Holdings Capital Corp.                                                     | CUSIP: 1248EPBT9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   63872000 | PA      | $63841922.68   | 0.08%             | 2027-05-01      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| Hologic, Inc.                                                                       | Hologic, Inc., First Lien, CME Term Loan                                                          | CUSIP: 43644ABP3<br>LEI: N/A                  | Long             | LON              | CORP              | US        |  200000000 | PA      | $197738600.00  | 0.25%             | 2033-01-14      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| Genmab A/S / Genmab Finance LLC                                                     | Genmab A/S / Genmab Finance LLC                                                                   | CUSIP: 37230JAB8<br>LEI: N/A                  | Long             | DBT              | CORP              | DK        |   20000000 | PA      | $20952920.00   | 0.03%             | 2033-12-15      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| BASF SE                                                                             | BASF SE                                                                                           | CUSIP: N/A<br>LEI: 529900PM64WH8AF1E917       | Long             | EC               | CORP              | DE        |    2500000 | NS      | $153976028.24  | 0.20%             |  |  |  | No            |                  2 | On Loan: No      |
| GNMA                                                                                | GNMA II, Single-family, 30 Year                                                                   | CUSIP: 3618N53Y3<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |  198496654 | PA      | $200051811.77  | 0.25%             | 2055-12-20      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Coca-Cola Co. (The)                                                                 | Coca-Cola Co. (The)                                                                               | CUSIP: 191216100<br>LEI: UWJKFUJFZ02DKWI3RY53 | Long             | EC               | CORP              | US        |    3000000 | NS      | $228150000.00  | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| United Airlines Pass-Through Trust                                                  | United Airlines Pass-Through Trust, Series 2020-1, Class A                                        | CUSIP: 90931GAA7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   32560625 | PA      | $33126288.02   | 0.04%             | 2027-10-15      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| Quikrete Holdings, Inc.                                                             | Quikrete Holdings, Inc.                                                                           | CUSIP: 74843PAB6<br>LEI: 5493007KIN86DIZWZT22 | Long             | DBT              | CORP              | US        |   20000000 | PA      | $20328300.00   | 0.03%             | 2033-03-01      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| Carnival Corp.                                                                      | Carnival Corp.                                                                                    | CUSIP: 143658CA8<br>LEI: F1OF2ZSX47CR0BCWA982 | Long             | DBT              | CORP              | PA        |   85000000 | PA      | $85078608.00   | 0.11%             | 2032-08-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Royal Bank of Canada into NIKE, Inc.                                                | Royal Bank of Canada into NIKE, Inc.                                                              | CUSIP: 78017W270<br>LEI: ES7IP3U3RHIGC71XBU11 | Long             | SN               | CORP              | CA        |    3750000 | NS      | $201732925.05  | 0.26%             | 2027-03-19      | Fixed         | 9.00%                 | No            |                  2 | On Loan: No      |
| Dell International LLC / EMC Corp.                                                  | Dell International LLC / EMC Corp.                                                                | CUSIP: 24703TAG1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   55000000 | PA      | $56143067.75   | 0.07%             | 2029-10-01      | Fixed         | 5.30%                 | No            |                  2 | On Loan: No      |
| Citigroup Global Markets Holdings, Inc. into NextEra Energy, Inc.                   | Citigroup Global Markets Holdings, Inc. into NextEra Energy, Inc.                                 | CUSIP: 17333F769<br>LEI: 82VOJDD5PTRDMVVMGV31 | Long             | SN               | CORP              | US        |    3500000 | NS      | $269265340.02  | 0.34%             | 2026-10-05      | Fixed         | 9.00%                 | No            |                  2 | On Loan: No      |
| NRG Energy, Inc.                                                                    | NRG Energy, Inc.                                                                                  | CUSIP: 629377CR1<br>LEI: 5E2UPK5SW04M13XY7I38 | Long             | DBT              | CORP              | US        |   65000000 | PA      | $59889466.00   | 0.08%             | 2031-02-15      | Fixed         | 3.62%                 | No            |                  2 | On Loan: No      |
| Centene Corp.                                                                       | Centene Corp.                                                                                     | CUSIP: 15135BAV3<br>LEI: 549300Z7JJ4TQSQGT333 | Long             | DBT              | CORP              | US        |   57000000 | PA      | $51525600.30   | 0.07%             | 2030-02-15      | Fixed         | 3.38%                 | No            |                  2 | On Loan: No      |
| Procter & Gamble Co. (The)                                                          | Procter & Gamble Co. (The)                                                                        | CUSIP: 742718109<br>LEI: 2572IBTT8CCZW6AU4141 | Long             | EC               | CORP              | US        |    8500000 | NS      | $1227740000.00 | 1.56%             |  |  |  | No            |                  1 | On Loan: No      |
| Toronto-Dominion Bank (The) into Starbucks Corp.                                    | Toronto-Dominion Bank (The) into Starbucks Corp.                                                  | CUSIP: 89112B244<br>LEI: PT3QB789TSUIDF371261 | Long             | SN               | CORP              | CA        |    1900000 | NS      | $170716326.90  | 0.22%             | 2027-01-27      | Fixed         | 9.00%                 | No            |                  2 | On Loan: No      |
| Wells Fargo Bank NA into CVS Health Corp.                                           | Wells Fargo Bank NA into CVS Health Corp.                                                         | CUSIP: N/A<br>LEI: N/A                        | Long             | SN               | CORP              | US        |    3500000 | NS      | $251689746.46  | 0.32%             | 2026-04-09      | Fixed         | 10.00%                | No            |                  2 | On Loan: No      |
| Venture Global Calcasieu Pass LLC                                                   | Venture Global Calcasieu Pass LLC                                                                 | CUSIP: 92328MAE3<br>LEI: 549300GKHS6RS20NLH85 | Long             | DBT              | CORP              | US        |   46445000 | PA      | $47530048.09   | 0.06%             | 2030-01-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| Goodyear Tire & Rubber Co. (The)                                                    | Goodyear Tire & Rubber Co. (The)                                                                  | CUSIP: 382550BG5<br>LEI: 5493002BI0S2ZQUY3437 | Long             | DBT              | CORP              | US        |   34757000 | PA      | $34430195.57   | 0.04%             | 2027-03-15      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| Sempra, Inc.                                                                        | Sempra, Inc.                                                                                      | CUSIP: 816851BR9<br>LEI: PBBKGKLRK5S5C0Y4T545 | Long             | DBT              | CORP              | US        |   20000000 | PA      | $20604055.60   | 0.03%             | 2033-08-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Boeing Co. (The)                                                                    | Boeing Co. (The)                                                                                  | CUSIP: 097023DR3<br>LEI: RVHJWBXLJ1RFUBSY1F30 | Long             | DBT              | CORP              | US        |   30000000 | PA      | $32002986.90   | 0.04%             | 2031-05-01      | Fixed         | 6.39%                 | No            |                  2 | On Loan: No      |
| LPL Financial Holdings, Inc.                                                        | LPL Financial Holdings, Inc.                                                                      | CUSIP: 50212V100<br>LEI: 549300XROQ4Y8G2L7682 | Long             | EC               | CORP              | US        |     240000 | NS      | $72199200.00   | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Citigroup Global Markets Holdings, Inc. into Workday, Inc.                          | Citigroup Global Markets Holdings, Inc. into Workday, Inc.                                        | CUSIP: 17333Q310<br>LEI: 82VOJDD5PTRDMVVMGV31 | Long             | SN               | CORP              | US        |    1200000 | NS      | $159135387.96  | 0.20%             | 2027-02-24      | Fixed         | 10.00%                | No            |                  2 | On Loan: No      |
| DaVita, Inc.                                                                        | DaVita, Inc.                                                                                      | CUSIP: 23918KAY4<br>LEI: M2XHYMU3TZNEZURC6H66 | Long             | DBT              | CORP              | US        |   40000000 | PA      | $40724720.00   | 0.05%             | 2033-07-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| Clydesdale Acquisition Holdings, Inc.                                               | Clydesdale Acquisition Holdings, Inc.                                                             | CUSIP: 18972EAD7<br>LEI: 254900QKSDYFR3K5YD98 | Long             | DBT              | CORP              | US        |   62000000 | PA      | $58734683.82   | 0.07%             | 2032-04-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| Verizon Communications, Inc.                                                        | Verizon Communications, Inc.                                                                      | CUSIP: 92343V104<br>LEI: 2S72QS2UO2OESLG6Y829 | Long             | EC               | CORP              | US        |    7500000 | NS      | $376500000.00  | 0.48%             |  |  |  | No            |                  1 | On Loan: No      |
| Vistra Operations Co. LLC                                                           | Vistra Operations Co. LLC                                                                         | CUSIP: 92840VAG7<br>LEI: 549300ZH5GKBTJZ7NM23 | Long             | DBT              | CORP              | US        |   28500000 | PA      | $28274850.00   | 0.04%             | 2027-01-30      | Fixed         | 3.70%                 | No            |                  2 | On Loan: No      |
| Merrill Lynch BV into Charles Schwab Corp. (The)                                    | Merrill Lynch BV into Charles Schwab Corp. (The)                                                  | CUSIP: 59028A267<br>LEI: 549300RQ1D1WIE085245 | Long             | SN               | CORP              | NL        |    1700000 | NS      | $159826996.48  | 0.20%             | 2027-03-03      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| Hilcorp Energy I LP / Hilcorp Finance Co.                                           | Hilcorp Energy I LP / Hilcorp Finance Co.                                                         | CUSIP: 431318AY0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   27000000 | PA      | $26298102.60   | 0.03%             | 2030-04-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Venture Global Plaquemines LNG LLC                                                  | Venture Global Plaquemines LNG LLC                                                                | CUSIP: 922966AB2<br>LEI: 549300TKP4I6OJ02BF90 | Long             | DBT              | CORP              | US        |   25000000 | PA      | $28035075.00   | 0.04%             | 2035-05-01      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| Carnival Corp.                                                                      | Carnival Corp.                                                                                    | CUSIP: 143658BX9<br>LEI: F1OF2ZSX47CR0BCWA982 | Long             | DBT              | CORP              | PA        |  115000000 | PA      | $116210950.00  | 0.15%             | 2033-02-15      | Fixed         | 6.12%                 | No            |                  2 | On Loan: No      |
| FHLMC Pool                                                                          | FHLMC Pool, 30 Year                                                                               | CUSIP: 3132DWJR5<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   68549848 | PA      | $69077990.76   | 0.09%             | 2053-11-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FHLMC Pool                                                                          | FHLMC Pool, 30 Year                                                                               | CUSIP: 3132DWNG4<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |  238906514 | PA      | $235928377.21  | 0.30%             | 2054-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Microsoft Corp.                                                                     | Microsoft Corp.                                                                                   | CUSIP: 594918104<br>LEI: INR2EJN1ERAN0W5ZP974 | Long             | EC               | CORP              | US        |     235000 | NS      | $86989950.00   | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Ford Motor Credit Co. LLC                                                           | Ford Motor Credit Co. LLC                                                                         | CUSIP: 345397C27<br>LEI: UDSQCVRUX5BONN0VY111 | Long             | DBT              | CORP              | US        |   85000000 | PA      | $84998063.70   | 0.11%             | 2027-05-28      | Fixed         | 4.95%                 | No            |                  2 | On Loan: No      |
| Southern Co. (The)                                                                  | Southern Co. (The), Series A                                                                      | CUSIP: 842587842<br>LEI: 549300FC3G3YU2FBZD92 | Long             | EP               | CORP              | US        |    3500000 | NS      | $179900000.00  | 0.23%             |  |  |  | No            |                  1 | On Loan: —       |
| Bank of America Corp.                                                               | Bank of America Corp.                                                                             | CUSIP: 060505104<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | EC               | CORP              | US        |    4500000 | NS      | $219375000.00  | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| Ford Motor Co.                                                                      | Ford Motor Co.                                                                                    | CUSIP: 345370DA5<br>LEI: 20S05OYHG0MQM4VUIC57 | Long             | DBT              | CORP              | US        |  120000000 | PA      | $104269960.80  | 0.13%             | 2032-02-12      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| Charles Schwab Corp. (The)                                                          | Charles Schwab Corp. (The)                                                                        | CUSIP: 808513CE3<br>LEI: 549300VSGCJ7E698NM85 | Long             | DBT              | CORP              | US        |   30000000 | PA      | $31525047.60   | 0.04%             | 2034-05-19      | Fixed         | 5.85%                 | No            |                  2 | On Loan: No      |
| FHLMC Pool                                                                          | FHLMC Pool, 30 Year                                                                               | CUSIP: 3132DWNJ8<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |  224068293 | PA      | $225321150.87  | 0.29%             | 2054-12-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Mineral Resources Ltd.                                                              | Mineral Resources Ltd.                                                                            | CUSIP: 603051AC7<br>LEI: 5299007V1ACKFFX2P066 | Long             | DBT              | CORP              | AU        |   20000000 | PA      | $20273383.40   | 0.03%             | 2027-11-01      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| Mizuho Markets Cayman LP into Dell Technologies, Inc.                               | Mizuho Markets Cayman LP into Dell Technologies, Inc.                                             | CUSIP: 60701E485<br>LEI: 549300KHUXLS6Q30KT26 | Long             | SN               | CORP              | KY        |    1100000 | NS      | $171907309.31  | 0.22%             | 2026-11-09      | Fixed         | 12.00%                | No            |                  2 | On Loan: No      |
| Toronto-Dominion Bank (The) into Target Corp.                                       | Toronto-Dominion Bank (The) into Target Corp.                                                     | CUSIP: 89112B103<br>LEI: PT3QB789TSUIDF371261 | Long             | SN               | CORP              | CA        |    1615000 | NS      | $178985290.72  | 0.23%             | 2026-06-30      | Fixed         | 12.00%                | No            |                  2 | On Loan: No      |
| Connect Holding II LLC                                                              | Connect Holding II LLC                                                                            | CUSIP: 20753PAD3<br>LEI: 254900LCX7S2QHYUOI31 | Long             | DBT              | CORP              | US        |  135000000 | PA      | $134303154.30  | 0.17%             | 2031-04-03      | Fixed         | 10.50%                | No            |                  2 | On Loan: No      |
| Bank of America Corp.                                                               | Bank of America Corp.                                                                             | CUSIP: 06051GHD4<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |   45000000 | PA      | $44222495.85   | 0.06%             | 2028-12-20      | Fixed         | 3.42%                 | No            |                  2 | On Loan: No      |
| Matador Resources Co.                                                               | Matador Resources Co.                                                                             | CUSIP: 576485AH9<br>LEI: 549300CI3Q2UUK5R4G79 | Long             | DBT              | CORP              | US        |   40000000 | PA      | $40063000.00   | 0.05%             | 2033-04-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| Morgan Stanley Finance LLC into JPMorgan Chase & Co.                                | Morgan Stanley Finance LLC into JPMorgan Chase & Co.                                              | CUSIP: 61772E222<br>LEI: 5493003FCPSE9RKT4B56 | Long             | SN               | CORP              | US        |     950000 | NS      | $273566654.81  | 0.35%             | 2027-03-30      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| Southern Co. (The)                                                                  | Southern Co. (The)                                                                                | CUSIP: 842587EJ2<br>LEI: 549300FC3G3YU2FBZD92 | Long             | DBT              | CORP              | US        |   85000000 | PA      | $85455338.20   | 0.11%             | 2058-04-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| GNMA                                                                                | GNMA II, Single-family, 30 Year                                                                   | CUSIP: 36179X2L9<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   60309201 | PA      | $61227932.78   | 0.08%             | 2053-05-20      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Mizuho Markets Cayman LP into Meta Platforms, Inc.                                  | Mizuho Markets Cayman LP into Meta Platforms, Inc.                                                | CUSIP: 60701B523<br>LEI: 549300KHUXLS6Q30KT26 | Long             | SN               | CORP              | KY        |     535000 | NS      | $308364850.86  | 0.39%             | 2026-12-07      | Fixed         | 10.00%                | No            |                  2 | On Loan: No      |
| General Motors Financial Co., Inc.                                                  | General Motors Financial Co., Inc.                                                                | CUSIP: 37045XED4<br>LEI: 5493008B6JBRUJ90QL97 | Long             | DBT              | CORP              | US        |   50000000 | PA      | $53007414.50   | 0.07%             | 2033-01-09      | Fixed         | 6.40%                 | No            |                  2 | On Loan: No      |
| DaVita, Inc.                                                                        | DaVita, Inc.                                                                                      | CUSIP: 23918KAW8<br>LEI: M2XHYMU3TZNEZURC6H66 | Long             | DBT              | CORP              | US        |   70000000 | PA      | $71771123.90   | 0.09%             | 2032-09-01      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                                | FNMA, 30 Year                                                                                     | CUSIP: 31418FNK9<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |  226823011 | PA      | $231339973.77  | 0.29%             | 2055-08-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| American Express Co.                                                                | American Express Co.                                                                              | CUSIP: 025816CH0<br>LEI: R4PP93JZOLY261QX3811 | Long             | DBT              | CORP              | US        |   20000000 | PA      | $19786024.40   | 0.03%             | 2026-09-15      | Fixed         | 3.55%                 | No            |                  2 | On Loan: No      |
| Honeywell International, Inc.                                                       | Honeywell International, Inc.                                                                     | CUSIP: 438516106<br>LEI: ISRPG12PN4EIEOEMW547 | Long             | EC               | CORP              | US        |    2000000 | NS      | $452060000.00  | 0.57%             |  |  |  | No            |                  1 | On Loan: No      |
| Netflix, Inc.                                                                       | Netflix, Inc.                                                                                     | CUSIP: 64110LAS5<br>LEI: 549300Y7VHGU0I7CE873 | Long             | DBT              | CORP              | US        |   70000000 | PA      | $70929881.40   | 0.09%             | 2028-04-15      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| U.S. Treasury Bills                                                                 | U.S. Treasury Bills                                                                               | CUSIP: 912797TS6<br>LEI: 254900HROIFWPRGM1V77 | Long             | STIV             | UST               | US        |  250000000 | PA      | $248791667.50  | 0.32%             | 2026-05-19      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| TransDigm, Inc.                                                                     | TransDigm, Inc.                                                                                   | CUSIP: 893647BU0<br>LEI: 88Q84GB3X55CF5OC7582 | Long             | DBT              | CORP              | US        |  100000000 | PA      | $101991299.00  | 0.13%             | 2029-03-01      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| Medline Borrower LP                                                                 | Medline Borrower LP, First Lien, 2030 Refinancing CME Term Loan                                   | CUSIP: 58503UAJ2<br>LEI: 254900QT3R363TVK6F09 | Long             | LON              | CORP              | US        |   19750501 | PA      | $19796717.43   | 0.03%             | 2030-10-23      | Variable      | 5.42%                 | No            |                  2 | On Loan: No      |
| N/A                                                                                 | Exxon Mobil Corp.                                                                                 | CUSIP: 00CCEZY93<br>LEI: N/A                  | N/A              | DE               |  | US        |     -10000 | NC      | $-4340000.00   | -0.01%            |  |  |  | No            |                  1 | On Loan: No      |
| Textron, Inc.                                                                       | Textron, Inc.                                                                                     | CUSIP: 883203CC3<br>LEI: 3PPKBHUG1HD6BO7RNR87 | Long             | DBT              | CORP              | US        |   40000000 | PA      | $36039104.00   | 0.05%             | 2031-03-15      | Fixed         | 2.45%                 | No            |                  2 | On Loan: No      |
| Lowe's Cos., Inc.                                                                   | Lowe's Cos., Inc.                                                                                 | CUSIP: 548661EA1<br>LEI: WAFCR4OKGSC504WU3E95 | Long             | DBT              | CORP              | US        |   40000000 | PA      | $36358112.80   | 0.05%             | 2031-04-01      | Fixed         | 2.62%                 | No            |                  2 | On Loan: No      |
| Venture Global LNG, Inc.                                                            | Venture Global LNG, Inc.                                                                          | CUSIP: 92332YAC5<br>LEI: 54930011XLBUWMQUC829 | Long             | DBT              | CORP              | US        |   37300000 | PA      | $40351117.62   | 0.05%             | 2029-02-01      | Fixed         | 9.50%                 | No            |                  2 | On Loan: No      |
| Stagwell Global LLC                                                                 | Stagwell Global LLC                                                                               | CUSIP: 59565JAA9<br>LEI: 984500904E015Z0C1F82 | Long             | DBT              | CORP              | US        |   55000000 | PA      | $52409907.00   | 0.07%             | 2029-08-15      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| N/A                                                                                 | Bank of America Corp.                                                                             | CUSIP: 00CC9R7S5<br>LEI: N/A                  | N/A              | DE               |  | US        |     -20000 | NC      | $-60000.00     | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                                                                 | Lowe's Cos., Inc.                                                                                 | CUSIP: 00CC4NYP5<br>LEI: N/A                  | N/A              | DE               |  | US        |      -5000 | NC      | $-5000.00      | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| FHLMC Pool                                                                          | FHLMC Pool, 30 Year                                                                               | CUSIP: 3132DWHG1<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   65593435 | PA      | $66158933.36   | 0.08%             | 2053-06-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Boeing Co. (The)                                                                    | Boeing Co. (The)                                                                                  | CUSIP: 097023204<br>LEI: RVHJWBXLJ1RFUBSY1F30 | Long             | EP               | CORP              | US        |    5000000 | NS      | $324400000.00  | 0.41%             |  |  |  | No            |                  1 | On Loan: No      |
| FNMA                                                                                | FNMA, 30 Year                                                                                     | CUSIP: 3140XPBW8<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |  175247686 | PA      | $173492395.99  | 0.22%             | 2053-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Capital One Financial Corp.                                                         | Capital One Financial Corp.                                                                       | CUSIP: 14040HCT0<br>LEI: ZUE8T73ROZOF6FLBAR73 | Long             | DBT              | CORP              | US        |   50000000 | PA      | $49926181.00   | 0.06%             | 2033-05-10      | Fixed         | 5.27%                 | No            |                  2 | On Loan: No      |
| Teva Pharmaceutical Finance Netherlands III BV                                      | Teva Pharmaceutical Finance Netherlands III BV                                                    | CUSIP: 88167AAS0<br>LEI: 5493004T21MOAFINJP35 | Long             | DBT              | CORP              | NL        |   25000000 | PA      | $26802225.00   | 0.03%             | 2029-09-15      | Fixed         | 7.88%                 | No            |                  2 | On Loan: No      |
| Mizuho Markets Cayman LP into Microchip Technology, Inc.                            | Mizuho Markets Cayman LP into Microchip Technology, Inc.                                          | CUSIP: 60701E287<br>LEI: 549300KHUXLS6Q30KT26 | Long             | SN               | CORP              | KY        |    3010000 | NS      | $194190073.12  | 0.25%             | 2026-04-15      | Fixed         | 10.00%                | No            |                  2 | On Loan: No      |
| Tenet Healthcare Corp.                                                              | Tenet Healthcare Corp.                                                                            | CUSIP: 88033GDV9<br>LEI: 0W9AIBT6U6ADJ2I8HK17 | Long             | DBT              | CORP              | US        |   20000000 | PA      | $20252720.00   | 0.03%             | 2033-11-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| US Bancorp                                                                          | US Bancorp                                                                                        | CUSIP: 91159HJN1<br>LEI: N1GZ7BBF3NP8GI976H15 | Long             | DBT              | CORP              | US        |   35000000 | PA      | $36545117.70   | 0.05%             | 2034-06-12      | Fixed         | 5.84%                 | No            |                  2 | On Loan: No      |
| Southern Co. (The)                                                                  | Southern Co. (The), Series 2025                                                                   | CUSIP: 842587EB9<br>LEI: 549300FC3G3YU2FBZD92 | Long             | DBT              | CORP              | US        |  100000000 | PA      | $102893500.00  | 0.13%             | 2055-03-15      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| UBS AG into Marvell Technology, Inc.                                                | UBS AG into Marvell Technology, Inc.                                                              | CUSIP: N/A<br>LEI: BFM8T61CT2L1QCEMIK50       | Long             | SN               | CORP              | CH        |    2050000 | NS      | $196428186.50  | 0.25%             | 2026-12-16      | Fixed         | 12.00%                | No            |                  2 | On Loan: No      |
| Mauser Packaging Solutions Holding Co.                                              | Mauser Packaging Solutions Holding Co.                                                            | CUSIP: 57763RAE7<br>LEI: 549300DNGHXL0OMHW304 | Long             | DBT              | CORP              | US        |  250000000 | PA      | $250178750.00  | 0.32%             | 2030-04-15      | Fixed         | 7.88%                 | No            |                  2 | On Loan: No      |
| Broadcom, Inc.                                                                      | Broadcom, Inc.                                                                                    | CUSIP: 11135FCT6<br>LEI: 549300WV6GIDOZJTV909 | Long             | DBT              | CORP              | US        |   35000000 | PA      | $31533260.15   | 0.04%             | 2034-04-15      | Fixed         | 3.47%                 | No            |                  2 | On Loan: No      |
| AbbVie, Inc.                                                                        | AbbVie, Inc.                                                                                      | CUSIP: 00287Y109<br>LEI: FR5LCKFTG8054YNNRU85 | Long             | EC               | CORP              | US        |    3000000 | NS      | $652470000.00  | 0.83%             |  |  |  | No            |                  1 | On Loan: No      |
| Venture Global LNG, Inc.                                                            | Venture Global LNG, Inc.                                                                          | CUSIP: 92332YAA9<br>LEI: 54930011XLBUWMQUC829 | Long             | DBT              | CORP              | US        |  183000000 | PA      | $187248528.00  | 0.24%             | 2028-06-01      | Fixed         | 8.12%                 | No            |                  2 | On Loan: No      |
| NRG Energy, Inc.                                                                    | NRG Energy, Inc.                                                                                  | CUSIP: 629377CW0<br>LEI: 5E2UPK5SW04M13XY7I38 | Long             | DBT              | CORP              | US        |   65000000 | PA      | $65058175.00   | 0.08%             | 2033-02-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| JPMorgan Chase & Co.                                                                | JPMorgan Chase & Co., Series OO                                                                   | CUSIP: 48128AAJ2<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | DBT              | CORP              | US        |  100000000 | PA      | $102671500.00  | 0.13%             | 2030-04-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Teva Pharmaceutical Finance Netherlands III BV                                      | Teva Pharmaceutical Finance Netherlands III BV                                                    | CUSIP: 88167AAK7<br>LEI: 5493004T21MOAFINJP35 | Long             | DBT              | CORP              | NL        |   26000000 | PA      | $26661050.00   | 0.03%             | 2028-03-01      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| Boeing Co. (The)                                                                    | Boeing Co. (The)                                                                                  | CUSIP: 097023CP8<br>LEI: RVHJWBXLJ1RFUBSY1F30 | Long             | DBT              | CORP              | US        |   25000000 | PA      | $21441705.50   | 0.03%             | 2035-02-01      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| NCL Corp. Ltd.                                                                      | NCL Corp. Ltd.                                                                                    | CUSIP: 62886HBR1<br>LEI: UNZWILHE4KMRP9K2L524 | Long             | DBT              | CORP              | BM        |   35000000 | PA      | $34759994.50   | 0.04%             | 2032-02-01      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| Union Pacific Corp.                                                                 | Union Pacific Corp.                                                                               | CUSIP: 907818108<br>LEI: 549300LMMRSZZCZ8CL11 | Long             | EC               | CORP              | US        |    2000000 | NS      | $485240000.00  | 0.62%             |  |  |  | No            |                  1 | On Loan: No      |
| JetBlue Airways Corp. / JetBlue Loyalty LP                                          | JetBlue Airways Corp. / JetBlue Loyalty LP                                                        | CUSIP: 476920AA1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  230000000 | PA      | $217676218.20  | 0.28%             | 2031-09-20      | Fixed         | 9.88%                 | No            |                  2 | On Loan: No      |
| Cleveland-Cliffs, Inc.                                                              | Cleveland-Cliffs, Inc.                                                                            | CUSIP: 18589GAA3<br>LEI: 549300TM2WLI2BJMDD86 | Long             | DBT              | CORP              | US        |   61000000 | PA      | $59652976.04   | 0.08%             | 2034-01-15      | Fixed         | 7.62%                 | No            |                  2 | On Loan: No      |
| Ashtead Capital, Inc.                                                               | Ashtead Capital, Inc.                                                                             | CUSIP: 045054AQ6<br>LEI: 213800J1134IW58IC398 | Long             | DBT              | CORP              | US        |   25000000 | PA      | $25256210.50   | 0.03%             | 2033-05-30      | Fixed         | 5.55%                 | No            |                  2 | On Loan: No      |
| Citigroup, Inc.                                                                     | Citigroup, Inc.                                                                                   | CUSIP: 17327CAR4<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |  155000000 | PA      | $160521854.85  | 0.20%             | 2034-05-25      | Fixed         | 6.17%                 | No            |                  2 | On Loan: No      |
| Cleveland-Cliffs, Inc.                                                              | Cleveland-Cliffs, Inc.                                                                            | CUSIP: 185899AP6<br>LEI: 549300TM2WLI2BJMDD86 | Long             | DBT              | CORP              | US        |   97000000 | PA      | $93973823.10   | 0.12%             | 2032-03-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| DaVita, Inc.                                                                        | DaVita, Inc.                                                                                      | CUSIP: 23918KAS7<br>LEI: M2XHYMU3TZNEZURC6H66 | Long             | DBT              | CORP              | US        |  150000000 | PA      | $144315030.00  | 0.18%             | 2030-06-01      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| Caesars Entertainment, Inc.                                                         | Caesars Entertainment, Inc.                                                                       | CUSIP: 12769GAD2<br>LEI: 549300FA4CTCW903Y781 | Long             | DBT              | CORP              | US        |  150000000 | PA      | $138184323.00  | 0.18%             | 2032-10-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Sempra, Inc.                                                                        | Sempra, Inc.                                                                                      | CUSIP: 816851109<br>LEI: PBBKGKLRK5S5C0Y4T545 | Long             | EC               | CORP              | US        |    4500000 | NS      | $437265000.00  | 0.56%             |  |  |  | No            |                  1 | On Loan: No      |
| Regal Rexnord Corp.                                                                 | Regal Rexnord Corp.                                                                               | CUSIP: 758750AN3<br>LEI: QH78R09VCJGQKPBPYU33 | Long             | DBT              | CORP              | US        |   25000000 | PA      | $26205337.75   | 0.03%             | 2030-02-15      | Fixed         | 6.30%                 | No            |                  2 | On Loan: No      |
| Ardagh Holdings SA                                                                  | Ardagh Holdings SA                                                                                | CUSIP: 985923101<br>LEI: 549300ORV6YW6ESSNQ21 | Long             | EC               | CORP              | LU        |    7800000 | NS      | $61500120.04   | 0.08%             |  |  |  | No            |                  2 | On Loan: No      |
| Royal Caribbean Cruises Ltd.                                                        | Royal Caribbean Cruises Ltd.                                                                      | CUSIP: 780153BG6<br>LEI: K2NEH8QNVW44JIWK7Z55 | Long             | DBT              | CORP              | LR        |   50000000 | PA      | $50582275.50   | 0.06%             | 2028-04-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Mauser Packaging Solutions Holding Co.                                              | Mauser Packaging Solutions Holding Co.                                                            | CUSIP: 57763RAF4<br>LEI: 549300DNGHXL0OMHW304 | Long             | DBT              | CORP              | US        |  250000000 | PA      | $232494450.00  | 0.30%             | 2030-04-15      | Fixed         | 9.25%                 | No            |                  2 | On Loan: No      |
| U.S. Treasury Bills                                                                 | U.S. Treasury Bills                                                                               | CUSIP: 912797TR8<br>LEI: 254900HROIFWPRGM1V77 | Long             | STIV             | UST               | US        |  250000000 | PA      | $248968710.00  | 0.32%             | 2026-05-12      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| CoreWeave, Inc.                                                                     | CoreWeave, Inc.                                                                                   | CUSIP: 21873SAB4<br>LEI: 984500511DP2B6186053 | Long             | DBT              | CORP              | US        |   82000000 | PA      | $79754380.80   | 0.10%             | 2030-06-01      | Fixed         | 9.25%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                                | FNMA, 30 Year                                                                                     | CUSIP: 3140QBMZ8<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   20408812 | PA      | $19594437.59   | 0.02%             | 2049-08-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Morgan Stanley                                                                      | Morgan Stanley                                                                                    | CUSIP: 61747YFB6<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |   67095000 | PA      | $68766494.12   | 0.09%             | 2038-01-19      | Fixed         | 5.95%                 | No            |                  2 | On Loan: No      |
| GNMA                                                                                | GNMA II, Single-family, 30 Year                                                                   | CUSIP: 3618N5XQ7<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |  286047877 | PA      | $288158052.29  | 0.37%             | 2055-10-20      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| PPL Corp.                                                                           | PPL Corp.                                                                                         | CUSIP: 69351T866<br>LEI: 9N3UAJSNOUXFKQLF3V18 | Long             | EP               | CORP              | US        |    1000000 | NS      | $51290000.00   | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Duke Energy Corp.                                                                   | Duke Energy Corp.                                                                                 | CUSIP: 26441C204<br>LEI: I1BZKREC126H0VB1BL91 | Long             | EC               | CORP              | US        |    5000000 | NS      | $654700000.00  | 0.83%             |  |  |  | No            |                  1 | On Loan: No      |
| United States of America                                                            | U.S. Treasury Bonds                                                                               | CUSIP: 912810FA1<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  250000000 | PA      | $258613280.00  | 0.33%             | 2027-08-15      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| Clear Channel Outdoor Holdings, Inc.                                                | Clear Channel Outdoor Holdings, Inc.                                                              | CUSIP: 18453HAC0<br>LEI: 254900XBEE6V1ENYS150 | Long             | DBT              | CORP              | US        |  125000000 | PA      | $125678750.00  | 0.16%             | 2028-04-15      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| Tenet Healthcare Corp.                                                              | Tenet Healthcare Corp.                                                                            | CUSIP: 88033GDQ0<br>LEI: 0W9AIBT6U6ADJ2I8HK17 | Long             | DBT              | CORP              | US        |  425000000 | PA      | $428294600.00  | 0.54%             | 2030-06-15      | Fixed         | 6.12%                 | No            |                  2 | On Loan: No      |
| CHS/Community Health Systems, Inc.                                                  | CHS/Community Health Systems, Inc.                                                                | CUSIP: 12543DBK5<br>LEI: 5493007X5NC5XI1BB106 | Long             | DBT              | CORP              | US        |  126400000 | PA      | $116600684.53  | 0.15%             | 2031-02-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| J.P. Morgan Structured Products BV into Amazon.com, Inc.                            | J.P. Morgan Structured Products BV into Amazon.com, Inc.                                          | CUSIP: N/A<br>LEI: XZYUUT6IYN31D9K77X08       | Long             | SN               | CORP              | NL        |     725000 | NS      | $154117615.01  | 0.20%             | 2027-01-11      | Fixed         | 9.00%                 | No            |                  2 | On Loan: No      |
| Toronto-Dominion Bank (The) into Medtronic plc                                      | Toronto-Dominion Bank (The) into Medtronic plc                                                    | CUSIP: 89116B620<br>LEI: PT3QB789TSUIDF371261 | Long             | SN               | CORP              | CA        |    1850000 | NS      | $160641702.81  | 0.20%             | 2026-04-13      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| Goldman Sachs Group, Inc. (The)                                                     | Goldman Sachs Group, Inc. (The), Series Y                                                         | CUSIP: 38141GB52<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | DBT              | CORP              | US        |   25000000 | PA      | $24878804.50   | 0.03%             | 2034-11-10      | Fixed         | 6.12%                 | No            |                  2 | On Loan: No      |
| Alcoa Nederland Holding BV                                                          | Alcoa Nederland Holding BV                                                                        | CUSIP: 013822AG6<br>LEI: 5493000UL1QLQLT1VQ42 | Long             | DBT              | CORP              | NL        |  101547000 | PA      | $98797571.31   | 0.13%             | 2029-03-31      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| United Rentals North America, Inc.                                                  | United Rentals North America, Inc.                                                                | CUSIP: 911365BG8<br>LEI: NGIZXNT70J2LYT3FBI09 | Long             | DBT              | CORP              | US        |  140000000 | PA      | $139485262.00  | 0.18%             | 2028-01-15      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| Mizuho Markets Cayman LP into Microsoft Corp.                                       | Mizuho Markets Cayman LP into Microsoft Corp.                                                     | CUSIP: 60701B747<br>LEI: 549300KHUXLS6Q30KT26 | Long             | SN               | CORP              | KY        |     650000 | NS      | $254200493.50  | 0.32%             | 2027-01-11      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| BofA Finance LLC into Comcast Corp.                                                 | BofA Finance LLC into Comcast Corp.                                                               | CUSIP: 59028A242<br>LEI: 549300CGZYSEY3ZSIW16 | Long             | SN               | CORP              | US        |    8550000 | NS      | $245195554.91  | 0.31%             | 2027-02-04      | Fixed         | 9.50%                 | No            |                  2 | On Loan: No      |
| Wynn Resorts Finance LLC / Wynn Resorts Capital Corp.                               | Wynn Resorts Finance LLC / Wynn Resorts Capital Corp.                                             | CUSIP: 983133AC3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   75000000 | PA      | $78659625.00   | 0.10%             | 2031-02-15      | Fixed         | 7.12%                 | No            |                  2 | On Loan: No      |
| 1261229 BC Ltd.                                                                     | 1261229 BC Ltd.                                                                                   | CUSIP: 68288AAA5<br>LEI: N/A                  | Long             | DBT              | CORP              | CA        |  122853000 | PA      | $125886117.72  | 0.16%             | 2032-04-15      | Fixed         | 10.00%                | No            |                  2 | On Loan: No      |
| Ashtead Capital, Inc.                                                               | Ashtead Capital, Inc.                                                                             | CUSIP: 045054AQ6<br>LEI: 213800J1134IW58IC398 | Long             | DBT              | CORP              | US        |   30000000 | PA      | $30307452.60   | 0.04%             | 2033-05-30      | Fixed         | 5.55%                 | No            |                  2 | On Loan: No      |
| McDonald's Corp.                                                                    | McDonald's Corp.                                                                                  | CUSIP: 580135101<br>LEI: UE2136O97NLB5BYP9H04 | Long             | EC               | CORP              | US        |     999700 | NS      | $310696763.00  | 0.40%             |  |  |  | No            |                  1 | On Loan: No      |
| Cheniere Energy Partners LP                                                         | Cheniere Energy Partners LP                                                                       | CUSIP: 16411QAQ4<br>LEI: 5493005UEC8AZ34LDV29 | Long             | DBT              | CORP              | US        |   30000000 | PA      | $31459617.60   | 0.04%             | 2033-06-30      | Fixed         | 5.95%                 | No            |                  2 | On Loan: No      |
| Southern Co. (The)                                                                  | Southern Co. (The)                                                                                | CUSIP: 842587DR5<br>LEI: 549300FC3G3YU2FBZD92 | Long             | DBT              | CORP              | US        |   40000000 | PA      | $40427878.40   | 0.05%             | 2033-06-15      | Fixed         | 5.20%                 | No            |                  2 | On Loan: No      |
| Franklin Institutional U.S. Government Money Market Fund                            | Franklin Institutional U.S. Government Money Market Fund                                          | CUSIP: 457756500<br>LEI: 549300M4TP89K77LG374 | Long             | STIV             | RF                | US        |  167976546 | NS      | $167976545.94  | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| Capital One Financial Corp.                                                         | Capital One Financial Corp.                                                                       | CUSIP: 14040HCY9<br>LEI: ZUE8T73ROZOF6FLBAR73 | Long             | DBT              | CORP              | US        |   85000000 | PA      | $87021493.80   | 0.11%             | 2034-02-01      | Fixed         | 5.82%                 | No            |                  2 | On Loan: No      |
| Fertitta Entertainment LLC / Fertitta Entertainment Finance Co., Inc.               | Fertitta Entertainment LLC / Fertitta Entertainment Finance Co., Inc.                             | CUSIP: 31556TAC3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   92500000 | PA      | $86470609.50   | 0.11%             | 2030-01-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| Vistra Operations Co. LLC                                                           | Vistra Operations Co. LLC                                                                         | CUSIP: 92840VAH5<br>LEI: 549300ZH5GKBTJZ7NM23 | Long             | DBT              | CORP              | US        |  137000000 | PA      | $133825453.81  | 0.17%             | 2029-05-01      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| Tronox, Inc.                                                                        | Tronox, Inc.                                                                                      | CUSIP: 897051AC2<br>LEI: 549300EPZ4YXC7E5P181 | Long             | DBT              | CORP              | US        |  314000000 | PA      | $251777791.40  | 0.32%             | 2029-03-15      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| Mizuho Markets Cayman LP into Analog Devices, Inc.                                  | Mizuho Markets Cayman LP into Analog Devices, Inc.                                                | CUSIP: 60701E345<br>LEI: 549300KHUXLS6Q30KT26 | Long             | SN               | CORP              | KY        |     800000 | NS      | $186174180.64  | 0.24%             | 2026-05-18      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| KB Home                                                                             | KB Home                                                                                           | CUSIP: 48666KBA6<br>LEI: 549300LGUCWQURMWLG09 | Long             | DBT              | CORP              | US        |   20000000 | PA      | $20397140.00   | 0.03%             | 2030-07-15      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| Tenet Healthcare Corp.                                                              | Tenet Healthcare Corp.                                                                            | CUSIP: 88033GDU1<br>LEI: 0W9AIBT6U6ADJ2I8HK17 | Long             | DBT              | CORP              | US        |  159775000 | PA      | $163406366.20  | 0.21%             | 2031-05-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| Wells Fargo & Co.                                                                   | Wells Fargo & Co.                                                                                 | CUSIP: 95000U3H4<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | DBT              | CORP              | US        |   60000000 | PA      | $64984746.00   | 0.08%             | 2034-10-23      | Fixed         | 6.49%                 | No            |                  2 | On Loan: No      |
| United States of America                                                            | U.S. Treasury Bonds                                                                               | CUSIP: 912810EZ7<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  250000000 | PA      | $256301112.50  | 0.33%             | 2027-02-15      | Fixed         | 6.62%                 | No            |                  2 | On Loan: No      |
| JPMorgan Chase & Co.                                                                | JPMorgan Chase & Co., Series NN                                                                   | CUSIP: 48128BAQ4<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | DBT              | CORP              | US        |   50000000 | PA      | $51906250.00   | 0.07%             | 2029-06-01      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| Rockies Express Pipeline LLC                                                        | Rockies Express Pipeline LLC                                                                      | CUSIP: 77340RAU1<br>LEI: W2ZGZGZKY5GGNY6F3V51 | Long             | DBT              | CORP              | US        |   20000000 | PA      | $20599360.00   | 0.03%             | 2033-03-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| BAT Capital Corp.                                                                   | BAT Capital Corp.                                                                                 | CUSIP: 05526DBS3<br>LEI: 2138005GYEXN7XRHFA84 | Long             | DBT              | CORP              | US        |   25000000 | PA      | $22868539.25   | 0.03%             | 2031-03-25      | Fixed         | 2.73%                 | No            |                  2 | On Loan: No      |
| Goldman Sachs Group, Inc. (The)                                                     | Goldman Sachs Group, Inc. (The)                                                                   | CUSIP: 38141GYN8<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | DBT              | CORP              | US        |   30000000 | PA      | $26642627.40   | 0.03%             | 2032-10-21      | Fixed         | 2.65%                 | No            |                  2 | On Loan: No      |
| Clarion Partners Real Estate Income Fund, Inc.                                      | Clarion Partners Real Estate Income Fund, Inc., Class I                                           | CUSIP: 180567406<br>LEI: 549300HQZ8T32H6E5695 | Long             |  | RF                | US        |    7867833 | NS      | $89221223.84   | 0.11%             |  |  |  | No            |                  2 | On Loan: No      |
| Dominion Energy, Inc.                                                               | Dominion Energy, Inc.                                                                             | CUSIP: 25746U109<br>LEI: ILUL7B6Z54MRYCF6H308 | Long             | EC               | CORP              | US        |    2500000 | NS      | $154550000.00  | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Oracle Corp.                                                                        | Oracle Corp.                                                                                      | CUSIP: 68389XCJ2<br>LEI: 1Z4GXXU7ZHVWFCD8TV52 | Long             | DBT              | CORP              | US        |   95000000 | PA      | $97528068.75   | 0.12%             | 2032-11-09      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| Cogent Communications Group LLC / Cogent Finance, Inc.                              | Cogent Communications Group LLC / Cogent Finance, Inc.                                            | CUSIP: 19240CAE3<br>LEI: 549300KFWFYF8Q1U0Y26 | Long             | DBT              | CORP              | US        |   15000000 | PA      | $14847789.00   | 0.02%             | 2027-06-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| Citigroup, Inc.                                                                     | Citigroup, Inc., Series FF                                                                        | CUSIP: 17327CAV5<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |   30000000 | PA      | $30240033.00   | 0.04%             | 2030-02-15      | Fixed         | 6.95%                 | No            |                  2 | On Loan: No      |
| ARC Falcon I, Inc. / Arclin USA LLC / New Arclin US Holding Corp.                   | ARC Falcon I, Inc. / Arclin USA LLC / New Arclin US Holding Corp.                                 | CUSIP: 03881HAA8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  100000000 | PA      | $96367000.00   | 0.12%             | 2033-03-01      | Fixed         | 9.75%                 | No            |                  2 | On Loan: No      |
| Dell Technologies, Inc.                                                             | Dell Technologies, Inc., Class C                                                                  | CUSIP: 24703L202<br>LEI: 549300TJB5YBRUPOG437 | Long             | EC               | CORP              | US        |    1000000 | NS      | $164130000.00  | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| Toronto-Dominion Bank (The) into QUALCOMM, Inc.                                     | Toronto-Dominion Bank (The) into QUALCOMM, Inc.                                                   | CUSIP: 89112B251<br>LEI: PT3QB789TSUIDF371261 | Long             | SN               | CORP              | CA        |    1750000 | NS      | $228917370.50  | 0.29%             | 2027-03-24      | Fixed         | 10.00%                | No            |                  2 | On Loan: No      |
| Quikrete Holdings, Inc.                                                             | Quikrete Holdings, Inc., First Lien, CME Term Loan, B3                                            | CUSIP: 74839XAL3<br>LEI: 5493007KIN86DIZWZT22 | Long             | LON              | CORP              | US        |   39600000 | PA      | $39575250.00   | 0.05%             | 2032-02-10      | Variable      | 5.92%                 | No            |                  2 | On Loan: No      |
| TransDigm, Inc.                                                                     | TransDigm, Inc.                                                                                   | CUSIP: 893647BS5<br>LEI: 88Q84GB3X55CF5OC7582 | Long             | DBT              | CORP              | US        |   50000000 | PA      | $51264650.00   | 0.07%             | 2030-12-15      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| NRG Energy, Inc.                                                                    | NRG Energy, Inc.                                                                                  | CUSIP: 629377CW0<br>LEI: 5E2UPK5SW04M13XY7I38 | Long             | DBT              | CORP              | US        |   60000000 | PA      | $60053700.00   | 0.08%             | 2033-02-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Celanese US Holdings LLC                                                            | Celanese US Holdings LLC                                                                          | CUSIP: 15089QAX2<br>LEI: CD30XVRLT4QO00B1C706 | Long             | DBT              | CORP              | US        |   30000000 | PA      | $31733946.60   | 0.04%             | 2030-11-15      | Fixed         | 7.05%                 | No            |                  2 | On Loan: No      |
| Ford Motor Credit Co. LLC                                                           | Ford Motor Credit Co. LLC                                                                         | CUSIP: 345397E66<br>LEI: UDSQCVRUX5BONN0VY111 | Long             | DBT              | CORP              | US        |   65000000 | PA      | $64410597.55   | 0.08%             | 2034-03-08      | Fixed         | 6.12%                 | No            |                  2 | On Loan: No      |
| Royal Bank of Canada into Oracle Corp.                                              | Royal Bank of Canada into Oracle Corp.                                                            | CUSIP: N/A<br>LEI: N/A                        | Long             | SN               | CORP              | US        |    1625000 | NS      | $236055568.13  | 0.30%             | 2026-05-13      | Fixed         | 10.00%                | No            |                  2 | On Loan: No      |
| United Rentals North America, Inc.                                                  | United Rentals North America, Inc.                                                                | CUSIP: 911363AM1<br>LEI: NGIZXNT70J2LYT3FBI09 | Long             | DBT              | CORP              | US        |   30000000 | PA      | $28221285.00   | 0.04%             | 2031-02-15      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| Williams Cos., Inc. (The)                                                           | Williams Cos., Inc. (The)                                                                         | CUSIP: 969457BX7<br>LEI: D71FAKCBLFS2O0RBPG08 | Long             | DBT              | CORP              | US        |   90000000 | PA      | $85565762.10   | 0.11%             | 2030-11-15      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| EURO                                                                                | EURO                                                                                              | CUSIP: N/A<br>LEI: N/A                        | Long             | STIV             |  | XX        |       1091 | OU      | $1261.30       | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Mauser Packaging Solutions Holding Co.                                              | Mauser Packaging Solutions Holding Co., First Lien, 2025 CME Term Loan                            | CUSIP: 57763TAF0<br>LEI: 549300DNGHXL0OMHW304 | Long             | LON              | CORP              | US        |   19847328 | PA      | $19234145.05   | 0.02%             | 2030-04-15      | Variable      | 7.16%                 | No            |                  2 | On Loan: No      |
| Royal Bank of Canada into Microsoft Corp.                                           | Royal Bank of Canada into Microsoft Corp.                                                         | CUSIP: 78017W320<br>LEI: ES7IP3U3RHIGC71XBU11 | Long             | SN               | CORP              | CA        |     675000 | NS      | $254768196.38  | 0.32%             | 2027-04-05      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| Hologic, Inc.                                                                       | Hologic, Inc., First Lien, CME Term Loan, B                                                       | CUSIP: 43644ABL2<br>LEI: N/A                  | Long             | LON              | CORP              | US        |  115000000 | PA      | $113771225.00  | 0.14%             | 2033-01-14      | Variable      | 5.75%                 | No            |                  2 | On Loan: No      |
| Barclays plc                                                                        | Barclays plc                                                                                      | CUSIP: 06738ECA1<br>LEI: 213800LBQA1Y9L22JB70 | Long             | DBT              | CORP              | GB        |  100000000 | PA      | $102845066.00  | 0.13%             | 2033-08-09      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| United States of America                                                            | U.S. Treasury Bonds                                                                               | CUSIP: 912803HF3<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        | 1000000000 | PA      | $242230870.00  | 0.31%             | 2054-11-15      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Citigroup, Inc.                                                                     | Citigroup, Inc.                                                                                   | CUSIP: 172967PU9<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |   85000000 | PA      | $86822892.15   | 0.11%             | 2036-01-24      | Fixed         | 6.02%                 | No            |                  2 | On Loan: No      |
| Merrill Lynch BV into Halliburton Co.                                               | Merrill Lynch BV into Halliburton Co.                                                             | CUSIP: 59028A127<br>LEI: 549300RQ1D1WIE085245 | Long             | SN               | CORP              | NL        |    7650000 | NS      | $210174744.04  | 0.27%             | 2026-09-21      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| U.S. Treasury Bills                                                                 | U.S. Treasury Bills                                                                               | CUSIP: 912797TL1<br>LEI: 254900HROIFWPRGM1V77 | Long             | STIV             | UST               | US        |  250000000 | PA      | $249146402.50  | 0.32%             | 2026-05-05      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| TransDigm, Inc.                                                                     | TransDigm, Inc.                                                                                   | CUSIP: 893647BW6<br>LEI: 88Q84GB3X55CF5OC7582 | Long             | DBT              | CORP              | US        |  105000000 | PA      | $105058128.00  | 0.13%             | 2033-01-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Wells Fargo Bank NA into Boeing Co. (The)                                           | Wells Fargo Bank NA into Boeing Co. (The)                                                         | CUSIP: N/A<br>LEI: N/A                        | Long             | SN               | CORP              | US        |     865000 | NS      | $169570210.04  | 0.22%             | 2026-05-14      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| Lockheed Martin Corp.                                                               | Lockheed Martin Corp.                                                                             | CUSIP: 539830109<br>LEI: DPRBOZP0K5RM2YE8UU08 | Long             | EC               | CORP              | US        |     600000 | NS      | $362634000.00  | 0.46%             |  |  |  | No            |                  1 | On Loan: No      |
| Vistra Operations Co. LLC                                                           | Vistra Operations Co. LLC                                                                         | CUSIP: 92840VAR3<br>LEI: 549300ZH5GKBTJZ7NM23 | Long             | DBT              | CORP              | US        |  120000000 | PA      | $124264484.40  | 0.16%             | 2032-04-15      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| Prudential Financial, Inc.                                                          | Prudential Financial, Inc.                                                                        | CUSIP: 744320BF8<br>LEI: 5PRBRS5FEH7NREC8OR45 | Long             | DBT              | CORP              | US        |   65000000 | PA      | $64423664.50   | 0.08%             | 2048-09-15      | Fixed         | 5.70%                 | No            |                  2 | On Loan: No      |
| Medline Borrower LP                                                                 | Medline Borrower LP                                                                               | CUSIP: 62482BAB8<br>LEI: 254900QT3R363TVK6F09 | Long             | DBT              | CORP              | US        |   90000000 | PA      | $89261847.00   | 0.11%             | 2029-10-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Energy Transfer LP                                                                  | Energy Transfer LP                                                                                | CUSIP: 29273VAQ3<br>LEI: MTLVN9N7JE8MIBIJ1H73 | Long             | DBT              | CORP              | US        |   30000000 | PA      | $31211798.70   | 0.04%             | 2033-02-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Nestle SA                                                                           | Nestle SA                                                                                         | CUSIP: 641069406<br>LEI: KY37LUS27QQX7BB93L28 | Long             | EC               | CORP              | CH        |    4000000 | NS      | $396400000.00  | 0.50%             |  |  |  | No            |                  1 | On Loan: No      |
| Lowe's Cos., Inc.                                                                   | Lowe's Cos., Inc.                                                                                 | CUSIP: 548661EH6<br>LEI: WAFCR4OKGSC504WU3E95 | Long             | DBT              | CORP              | US        |   48000000 | PA      | $45438948.00   | 0.06%             | 2032-04-01      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| American Airlines, Inc. / AAdvantage Loyalty IP Ltd.                                | American Airlines, Inc. / AAdvantage Loyalty IP Ltd.                                              | CUSIP: 00253XAB7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  275000000 | PA      | $273671832.50  | 0.35%             | 2029-04-20      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Wells Fargo Bank NA into Starbucks Corp.                                            | Wells Fargo Bank NA into Starbucks Corp.                                                          | CUSIP: N/A<br>LEI: N/A                        | Long             | SN               | CORP              | US        |    2250000 | NS      | $204000413.96  | 0.26%             | 2026-08-10      | Fixed         | 9.00%                 | No            |                  2 | On Loan: No      |
| Texas Instruments, Inc.                                                             | Texas Instruments, Inc.                                                                           | CUSIP: 882508104<br>LEI: WDJNR2L6D8RWOEB8T652 | Long             | EC               | CORP              | US        |     800000 | NS      | $155312000.00  | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Ares Management Corp.                                                               | Ares Management Corp., Series B                                                                   | CUSIP: 03990B309<br>LEI: 529900JUV61FH7B8VW38 | Long             | EP               | CORP              | US        |    4500000 | NS      | $162810000.00  | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| Organon & Co. / Organon Foreign Debt Co-Issuer BV                                   | Organon & Co. / Organon Foreign Debt Co-Issuer BV                                                 | CUSIP: 68622TAB7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   85000000 | PA      | $69358716.50   | 0.09%             | 2031-04-30      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| Truist Financial Corp.                                                              | Truist Financial Corp.                                                                            | CUSIP: 89788MAN2<br>LEI: 549300DRQQI75D2JP341 | Long             | DBT              | CORP              | US        |   45000000 | PA      | $45115236.45   | 0.06%             | 2027-06-08      | Fixed         | 6.05%                 | No            |                  2 | On Loan: No      |
| TransDigm, Inc.                                                                     | TransDigm, Inc.                                                                                   | CUSIP: 893647BV8<br>LEI: 88Q84GB3X55CF5OC7582 | Long             | DBT              | CORP              | US        |  100000000 | PA      | $102112000.00  | 0.13%             | 2032-03-01      | Fixed         | 6.62%                 | No            |                  2 | On Loan: No      |
| Centene Corp.                                                                       | Centene Corp.                                                                                     | CUSIP: 15135BAT8<br>LEI: 549300Z7JJ4TQSQGT333 | Long             | DBT              | CORP              | US        |  141100000 | PA      | $134036167.14  | 0.17%             | 2029-12-15      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| Humana, Inc.                                                                        | Humana, Inc.                                                                                      | CUSIP: 444859BV3<br>LEI: 529900YLDW34GJAO4J06 | Long             | DBT              | CORP              | US        |   35000000 | PA      | $35778860.95   | 0.05%             | 2033-03-01      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| Beach Acquisition Bidco LLC                                                         | Beach Acquisition Bidco LLC, First Lien, CME Term Loan, B1                                        | CUSIP: 07337FAB1<br>LEI: 254900F2FNX3GBTB6202 | Long             | LON              | CORP              | US        |   44887500 | PA      | $45055828.13   | 0.06%             | 2032-09-13      | Variable      | 6.95%                 | No            |                  2 | On Loan: No      |
| CHS/Community Health Systems, Inc.                                                  | CHS/Community Health Systems, Inc.                                                                | CUSIP: 12543DBQ2<br>LEI: 5493007X5NC5XI1BB106 | Long             | DBT              | CORP              | US        |  210000000 | PA      | $218214805.20  | 0.28%             | 2034-01-15      | Fixed         | 9.75%                 | No            |                  2 | On Loan: No      |
| HCA, Inc.                                                                           | HCA, Inc.                                                                                         | CUSIP: 404119CQ0<br>LEI: L3CJ6J7LJ2DX62FTXD46 | Long             | DBT              | CORP              | US        |   90000000 | PA      | $91832320.80   | 0.12%             | 2033-06-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Ally Financial, Inc.                                                                | Ally Financial, Inc., Series B                                                                    | CUSIP: 02005NBM1<br>LEI: 549300JBN1OSM8YNAI90 | Long             | DBT              | CORP              | US        |   45552000 | PA      | $45166438.76   | 0.06%             | 2026-05-15      | Fixed         | 4.70%                 | No            |                  2 | On Loan: No      |
| Caesars Entertainment, Inc.                                                         | Caesars Entertainment, Inc.                                                                       | CUSIP: 12769GAB6<br>LEI: 549300FA4CTCW903Y781 | Long             | DBT              | CORP              | US        |  108000000 | PA      | $109386180.00  | 0.14%             | 2030-02-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| Citigroup Global Markets Holdings, Inc. into Microsoft Corp.                        | Citigroup Global Markets Holdings, Inc. into Microsoft Corp.                                      | CUSIP: 17333Q153<br>LEI: 82VOJDD5PTRDMVVMGV31 | Long             | SN               | CORP              | US        |     860000 | NS      | $329596994.51  | 0.42%             | 2027-03-25      | Fixed         | 9.00%                 | No            |                  2 | On Loan: No      |
| MPH Acquisition Holdings LLC                                                        | MPH Acquisition Holdings LLC, First Lien, Exchange First Out CME Term Loan                        | CUSIP: 55328HAP6<br>LEI: 5493002WXOPRPTXWTU06 | Long             | LON              | CORP              | US        |   30148199 | PA      | $30140661.69   | 0.04%             | 2030-12-31      | Variable      | 7.42%                 | No            |                  2 | On Loan: No      |
| Goldman Sachs Bank USA into Home Depot, Inc. (The)                                  | Goldman Sachs Bank USA into Home Depot, Inc. (The)                                                | CUSIP: 38151L506<br>LEI: KD3XUN7C6T14HNAYLU02 | Long             | SN               | CORP              | US        |     850000 | NS      | $287664402.57  | 0.37%             | 2027-05-18      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| TransDigm, Inc.                                                                     | TransDigm, Inc.                                                                                   | CUSIP: 893647BY2<br>LEI: 88Q84GB3X55CF5OC7582 | Long             | DBT              | CORP              | US        |   30000000 | PA      | $29863749.00   | 0.04%             | 2033-05-31      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| Charter Communications Operating LLC                                                | Charter Communications Operating LLC, First Lien, CME Term Loan B5                                | CUSIP: 16117LCE7<br>LEI: 549300TPZNMN50BJ3745 | Long             | LON              | CORP              | US        |   19750000 | PA      | $19771033.75   | 0.03%             | 2031-12-15      | Variable      | 5.91%                 | No            |                  2 | On Loan: No      |
| Toronto-Dominion Bank (The) into Lowe's Cos., Inc.                                  | Toronto-Dominion Bank (The) into Lowe's Cos., Inc.                                                | CUSIP: N/A<br>LEI: PT3QB789TSUIDF371261       | Long             | SN               | CORP              | CA        |    1255000 | NS      | $291067642.79  | 0.37%             | 2026-08-19      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| Barclays plc                                                                        | Barclays plc                                                                                      | CUSIP: 06738ECE3<br>LEI: 213800LBQA1Y9L22JB70 | Long             | DBT              | CORP              | GB        |   65000000 | PA      | $72709623.35   | 0.09%             | 2033-11-02      | Fixed         | 7.44%                 | No            |                  2 | On Loan: No      |
| N/A                                                                                 | PepsiCo, Inc.                                                                                     | CUSIP: 00CBRUHF7<br>LEI: N/A                  | N/A              | DE               |  | US        |      -5000 | NC      | $-345000.00    | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2026-04-30

**Name of Applicant:** Franklin Custodian Funds

**Signature:** Monica Krogh

**Name of Signer:** Monica Krogh

**Title:** Assistant Treasurer