# EDGAR Filing Document

**Accession Number:** 0001655589
**File Stem:** 0000940400-26-020144
**Filing Date:** 2026-5
**Character Count:** 188744
**Document Hash:** 95eb13503b91266f9a9b545455dc9172
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000940400-26-020144.hdr.sgml**: 20260521

**ACCESSION NUMBER**: 0000940400-26-020144

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20260331

**FILED AS OF DATE**: 20260521

**DATE AS OF CHANGE**: 20260521

**PERIOD START**: 20260331

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Franklin Templeton ETF Trust
- **CENTRAL INDEX KEY:** 0001655589

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** FL
- **FISCAL YEAR END:** 0331

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-23124
- **FILM NUMBER:** 261007110

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

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

## Series and Classes Contracts Data

### Franklin Income Focus ETF (Series ID: S000080465)

| Class ID   | Class Name                | Ticker Symbol   |
|:---|:---|:---|
| C000242870 | Franklin Income Focus ETF |  |

## 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 Templeton ETF Trust

- **b. Investment Company Act file number:** 811-23124

- **c. CIK number of Registrant:** 0001655589

- **d. LEI of Registrant:** 549300UHXVPT5S43XV04

- **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 Focus ETF

- **b. EDGAR series identifier (if any):** S000080465

- **c. LEI of Series:** 2549002KQZQYC025U655

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

- **a. Date of fiscal year-end:** 2026-03-31

- **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:** $1386220300.63

**Total Liabilities:** $28661099.81

**Net Assets:** $1357559200.82

**Cash Not Reported:** $156751.11

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** 27.86554000 | **1-Year:** 12192.67183000 | **5-Year:** 83914.06089000 | **10-Year:** 13521.97166000 | **30-Year:** 0.00000000

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

- **3-Month:** 501.55515000 | **1-Year:** 25456.89591000 | **5-Year:** 50621.21048000 | **10-Year:** 2166.30807000 | **30-Year:** 0.00000000

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000242870 | 3.47%                | 2.29%                | -1.84%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-628886.43              | $34604279.34                               |
| Month 2  | $193400.09               | $22324596.76                               |
| Month 3  | $15738590.96             | $-46442453.06                              |

**Designated Index Information**

- **Index Name:** 50% S&P 500 Index + 50% Bloomberg US Aggregate Index

- **Index Identifier:** HB9876

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Celanese US Holdings Llc                                                            | CE 6.379 07/15/32                                                                                                                                      | CUSIP: 15089QAP9<br>LEI: CD30XVRLT4QO00B1C706 | Long             | DBT              | CORP              | US        |   2500000 | PA      | $2611710.00   | 0.19%             | 2032-07-15      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| United States Treasury Bonds                                                        | T 4.625 11/15/55                                                                                                                                       | CUSIP: 912810UP1<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   6000000 | PA      | $5733750.00   | 0.42%             | 2055-11-15      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| Wells Fargo & Co.                                                                   | WFC V6.125 PERP GG                                                                                                                                     | CUSIP: 95002YAE3<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | DBT              | CORP              | US        |   5000000 | PA      | $5020143.45   | 0.37%             | N/A             | Fixed         | 6.12%                 | No            |                  2 | On Loan: No      |
| TransDigm, Inc.                                                                     | TDG 6.375 05/31/33 144A                                                                                                                                | CUSIP: 893647BY2<br>LEI: 88Q84GB3X55CF5OC7582 | Long             | DBT              | CORP              | US        |   4000000 | PA      | $3981833.20   | 0.29%             | 2033-05-31      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| BNP Paribas Issuance BV                                                             | BNP 8 03/15/27                                                                                                                                         | CUSIP: 000000000<br>LEI: 7245009UXRIGIRYOBR48 | Long             | DBT              | CORP              | NL        |     17000 | PA      | $3393427.16   | 0.25%             | 2027-03-15      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Ford Motor Credit Company LLC                                                       | F 7.35 03/06/30                                                                                                                                        | CUSIP: 345397C68<br>LEI: UDSQCVRUX5BONN0VY111 | Long             | DBT              | CORP              | US        |   3000000 | PA      | $3166094.10   | 0.23%             | 2030-03-06      | Fixed         | 7.35%                 | No            |                  2 | On Loan: No      |
| CVS Health Corp                                                                     | CVS V6.75 12/10/54                                                                                                                                     | CUSIP: 126650EG1<br>LEI: 549300EJG376EN5NQE29 | Long             | DBT              | CORP              | US        |   2500000 | PA      | $2532370.00   | 0.19%             | 2054-12-10      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| CCO HOLDINGS LLC                                                                    | CHTR 5.125 05/01/27 144A                                                                                                                               | CUSIP: 1248EPBT9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    616000 | PA      | $615709.93    | 0.05%             | 2027-05-01      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| Mondelez International Inc.                                                         | Mondelez International Inc. CL A                                                                                                                       | CUSIP: 609207105<br>LEI: 549300DV9GIB88LZ5P30 | Long             | EC               | CORP              | US        |    124170 | NS      | $7157158.80   | 0.53%             |  |  |  | No            |                  1 | On Loan: No      |
| ROYAL BANK OF CANADA                                                                | Royal Bank of Canada                                                                                                                                   | CUSIP: 000000000<br>LEI: ES7IP3U3RHIGC71XBU11 | Long             | DBT              | CORP              | CA        |     23500 | PA      | $5961285.72   | 0.44%             | 2026-11-16      | Fixed         | 10.00%                | No            |                  2 | On Loan: No      |
| FEDERAL NATIONAL MORTGAGE ASSOCIATION                                               | FN MA5009                                                                                                                                              | CUSIP: 31418ER77<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    871081 | PA      | $863664.97    | 0.06%             | 2053-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| The Toronto-Dominion Bank                                                           | TD 10 10/13/26 MTN                                                                                                                                     | CUSIP: 000000000<br>LEI: PT3QB789TSUIDF371261 | Long             | DBT              | CORP              | CA        |     11000 | PA      | $2291562.82   | 0.17%             | 2026-10-13      | Fixed         | 10.00%                | No            |                  2 | On Loan: No      |
| Merrill Lynch B.V.                                                                  | BAC 10 07/01/26                                                                                                                                        | CUSIP: 000000000<br>LEI: 549300RQ1D1WIE085245 | Long             | DBT              | CORP              | NL        |     11000 | PA      | $3028926.03   | 0.22%             | 2026-07-01      | Fixed         | 10.00%                | No            |                  2 | On Loan: No      |
| Davita Inc                                                                          | DVA 6.75 07/15/33 144A                                                                                                                                 | CUSIP: 23918KAY4<br>LEI: M2XHYMU3TZNEZURC6H66 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $1018118.00   | 0.07%             | 2033-07-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| Univision Communications Inc.                                                       | UVN 9.375 08/01/32 144A                                                                                                                                | CUSIP: 914906BA9<br>LEI: 549300YQDE2JSGTL8V47 | Long             | DBT              | CORP              | US        |   2500000 | PA      | $2578400.40   | 0.19%             | 2032-08-01      | Fixed         | 9.38%                 | No            |                  2 | On Loan: No      |
| Kinder Morgan, Inc.                                                                 | KMI 5.4 02/01/34                                                                                                                                       | CUSIP: 494553AE0<br>LEI: 549300WR7IX8XE0TBO16 | Long             | DBT              | CORP              | US        |    775000 | PA      | $792898.98    | 0.06%             | 2034-02-01      | Fixed         | 5.40%                 | No            |                  2 | On Loan: No      |
| ARC FALCON I INC                                                                    | NEWARC 9.75 03/01/33 144A                                                                                                                              | CUSIP: 03881HAA8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   3000000 | PA      | $2891010.00   | 0.21%             | 2033-03-01      | Fixed         | 9.75%                 | No            |                  2 | On Loan: No      |
| VICI Properties LP                                                                  | VICI 5.125 05/15/32                                                                                                                                    | CUSIP: 925650AD5<br>LEI: 254900X4QE7SGKQLLN38 | Long             | DBT              | CORP              | US        |   3300000 | PA      | $3253567.28   | 0.24%             | 2032-05-15      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| Cisco Systems, Inc.                                                                 | Cisco Systems, Inc. COM                                                                                                                                | CUSIP: 17275R102<br>LEI: 549300LKFJ962MZ46593 | Long             | EC               | CORP              | US        |     56499 | NS      | $4383757.41   | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |
| JETBLUE AIRWAYS CORP / JETBLUE LOYALTY LP                                           | JBLU 9.875 09/20/31 144A                                                                                                                               | CUSIP: 476920AA1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   5250000 | PA      | $4968696.29   | 0.37%             | 2031-09-20      | Fixed         | 9.88%                 | No            |                  2 | On Loan: No      |
| Freeport-McMoRan Inc.                                                               | FCX 5.4 11/14/34                                                                                                                                       | CUSIP: 35671DBJ3<br>LEI: 549300IRDTHJQ1PVET45 | Long             | DBT              | CORP              | US        |    775000 | PA      | $786804.09    | 0.06%             | 2034-11-14      | Fixed         | 5.40%                 | No            |                  2 | On Loan: No      |
| Citigroup Global Markets Holdings Inc.                                              | C 9 07/29/26 0001                                                                                                                                      | CUSIP: 000000000<br>LEI: 82VOJDD5PTRDMVVMGV31 | Long             | DBT              | CORP              | US        |     20000 | PA      | $4145944.76   | 0.31%             | 2026-07-29      | Fixed         | 9.00%                 | No            |                  2 | On Loan: No      |
| JPMorgan Chase & Co.                                                                | JPM V5.04 01/23/28                                                                                                                                     | CUSIP: 46647PEA0<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | DBT              | CORP              | US        |    980000 | PA      | $985091.86    | 0.07%             | 2028-01-23      | Fixed         | 5.04%                 | No            |                  2 | On Loan: No      |
| KeyBank National Association                                                        | KEY 4.9 08/08/32 BKNT                                                                                                                                  | CUSIP: 49327V2C7<br>LEI: HUX2X73FUCYHUVH1BK78 | Long             | DBT              | CORP              | US        |    615000 | PA      | $604897.40    | 0.04%             | 2032-08-08      | Fixed         | 4.90%                 | No            |                  2 | On Loan: No      |
| Shell PLC                                                                           | Shell PLC SPON ADS                                                                                                                                     | CUSIP: 780259305<br>LEI: 21380068P1DRHMJ8KU70 | Long             | EC               | CORP              | GB        |    151948 | NS      | $14131164.00  | 1.04%             |  |  |  | No            |                  1 | On Loan: No      |
| CHS/Community Health Systems Inc                                                    | CYH 9.75 01/15/34 144A                                                                                                                                 | CUSIP: 12543DBQ2<br>LEI: 5493007X5NC5XI1BB106 | Long             | DBT              | CORP              | US        |  10000000 | PA      | $10391181.20  | 0.77%             | 2034-01-15      | Fixed         | 9.75%                 | No            |                  2 | On Loan: No      |
| Hologi 01/14/33                                                                     | Hologi 01/14/33                                                                                                                                        | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   4500000 | PA      | $4449118.50   | 0.33%             | 2033-01-14      | Floating      | 0.01%                 | No            |                  2 | On Loan: No      |
| UBS AG                                                                              | UBS AG                                                                                                                                                 | CUSIP: 90304M535<br>LEI: BFM8T61CT2L1QCEMIK50 | Long             | DBT              | CORP              | CH        |    150000 | PA      | $15486942.53  | 1.14%             | 2027-04-12      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| Citigroup Inc.                                                                      | C V6.02 01/24/36                                                                                                                                       | CUSIP: 172967PU9<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $1021445.79   | 0.08%             | 2036-01-24      | Fixed         | 6.02%                 | No            |                  2 | On Loan: No      |
| Venture Global LNG Inc.                                                             | VENLNG 8.375 06/01/31 144A                                                                                                                             | CUSIP: 92332YAB7<br>LEI: 54930011XLBUWMQUC829 | Long             | DBT              | CORP              | US        |   3500000 | PA      | $3641733.69   | 0.27%             | 2031-06-01      | Fixed         | 8.38%                 | No            |                  2 | On Loan: No      |
| Vistra Operations Co LLC                                                            | VST 3.7 01/30/27 144A                                                                                                                                  | CUSIP: 92840VAG7<br>LEI: 549300ZH5GKBTJZ7NM23 | Long             | DBT              | CORP              | US        |    535000 | PA      | $530773.50    | 0.04%             | 2027-01-30      | Fixed         | 3.70%                 | No            |                  2 | On Loan: No      |
| GE Healthcare Technologies Inc.                                                     | GEHC 5.905 11/22/32                                                                                                                                    | CUSIP: 36267VAK9<br>LEI: 549300OI9J7XOWZMUN85 | Long             | DBT              | CORP              | US        |    475000 | PA      | $501259.84    | 0.04%             | 2032-11-22      | Fixed         | 5.91%                 | No            |                  2 | On Loan: No      |
| Wells Fargo Bank, National Association                                              | Wells Fargo Bank, National Association MANDATORILY EXCHANGEABLE SECURITIES LINKED TO SHARES OF COMMON STOCK, OR THE CASH VALUE OF SUCH SHARES, OF STAR | CUSIP: 95003X211<br>LEI: KB1H1DSPRFMYMCUFXT09 | Long             | EP               | CORP              | US        |     20000 | NS      | $1813337.01   | 0.13%             |  |  |  | No            |                  2 | On Loan: No      |
| United Rentals (North America), Inc.                                                | URI 6 12/15/29 144A                                                                                                                                    | CUSIP: 911365BQ6<br>LEI: NGIZXNT70J2LYT3FBI09 | Long             | DBT              | CORP              | US        |    485000 | PA      | $493417.66    | 0.04%             | 2029-12-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Tronox Incorporated                                                                 | TROX 9.125 09/30/30 144A                                                                                                                               | CUSIP: 897051AD0<br>LEI: 549300EPZ4YXC7E5P181 | Long             | DBT              | CORP              | US        |   5000000 | PA      | $4998546.50   | 0.37%             | 2030-09-30      | Fixed         | 9.12%                 | No            |                  2 | On Loan: No      |
| MORGAN STANLEY FIN LLC                                                              | Morgan Stanley Finance LLC                                                                                                                             | CUSIP: 61772E214<br>LEI: 5493003FCPSE9RKT4B56 | Long             | DBT              | CORP              | US        |     24000 | PA      | $5107112.76   | 0.38%             | 2027-01-08      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Opal Bidco SAS                                                                      | OPALBD 6.5 03/31/32 144A                                                                                                                               | CUSIP: 68348BAA1<br>LEI: 969500R96XT7XY2UJ564 | Long             | DBT              | CORP              | FR        |   2000000 | PA      | $2003138.00   | 0.15%             | 2032-03-31      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Ashtead Capital Inc.                                                                | AHTLN 4.25 11/01/29 144A                                                                                                                               | CUSIP: 045054AL7<br>LEI: 213800J1134IW58IC398 | Long             | DBT              | CORP              | US        |    550000 | PA      | $539268.55    | 0.04%             | 2029-11-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| Quikrete Holdings Inc                                                               | QUIKHO 6.375 03/01/32 144A                                                                                                                             | CUSIP: 74843PAA8<br>LEI: 5493007KIN86DIZWZT22 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $1014753.00   | 0.07%             | 2032-03-01      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| ARDAGH METAL PACKAGING FINANCE USA LLC                                              | AMPBEV 4 09/01/29 144A                                                                                                                                 | CUSIP: 03969YAB4<br>LEI: 635400YUJMWFYRBL5293 | Long             | DBT              | CORP              | US        |    675000 | PA      | $618564.20    | 0.05%             | 2029-09-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Xcel Energy Inc                                                                     | Xcel Energy Inc COM                                                                                                                                    | CUSIP: 98389B100<br>LEI: LGJNMI9GH8XIDG5RCM61 | Long             | EC               | CORP              | US        |     55053 | NS      | $4373410.32   | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |
| Nestle SA                                                                           | Nestle SA SPONSORED ADR                                                                                                                                | CUSIP: 641069406<br>LEI: KY37LUS27QQX7BB93L28 | Long             | EC               | CORP              | CH        |     97840 | NS      | $9695944.00   | 0.71%             |  |  |  | No            |                  1 | On Loan: No      |
| McAfee Corp                                                                         | MCFE 7.375 02/15/30 144A                                                                                                                               | CUSIP: 579063AB4<br>LEI: 2549009UKR8UEZYVCR93 | Long             | DBT              | CORP              | US        |   3400000 | PA      | $2812773.42   | 0.21%             | 2030-02-15      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corp.                                                    | FR SD8506                                                                                                                                              | CUSIP: 3132DWNX7<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   1031219 | PA      | $1036979.31   | 0.08%             | 2055-02-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Kinder Morgan, Inc.                                                                 | KMI 5.2 06/01/33                                                                                                                                       | CUSIP: 49456BAX9<br>LEI: 549300WR7IX8XE0TBO16 | Long             | DBT              | CORP              | US        |    515000 | PA      | $523749.17    | 0.04%             | 2033-06-01      | Fixed         | 5.20%                 | No            |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corp.                                                    | FR RQ0050                                                                                                                                              | CUSIP: 3142J6BU6<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   2336542 | PA      | $2383609.89   | 0.18%             | 2055-09-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| BARCLAYS BANK PLC                                                                   | Barclays Bank PLC                                                                                                                                      | CUSIP: 06748N756<br>LEI: G5GSEF7VJP5I7OUK5573 | Long             | DBT              | CORP              | GB        |    200000 | PA      | $4412825.34   | 0.33%             | 2026-07-29      | Fixed         | 10.00%                | No            |                  2 | On Loan: No      |
| Expedia Group Inc                                                                   | EXPE 3.8 02/15/28                                                                                                                                      | CUSIP: 30212PAP0<br>LEI: CI7MUJI4USF3V0NJ1H64 | Long             | DBT              | CORP              | US        |    525000 | PA      | $518077.18    | 0.04%             | 2028-02-15      | Fixed         | 3.80%                 | No            |                  2 | On Loan: No      |
| Fresenius Medical Care US Finance III Inc                                           | FMEGR 2.375 02/16/31 144A                                                                                                                              | CUSIP: 35805BAB4<br>LEI: 5299006ZHLMXOOUVTU44 | Long             | DBT              | CORP              | US        |    645000 | PA      | $572337.83    | 0.04%             | 2031-02-16      | Fixed         | 2.38%                 | No            |                  2 | On Loan: No      |
| United States Treasury Notes                                                        | T 4.625 04/30/29                                                                                                                                       | CUSIP: 91282CKP5<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   2500000 | PA      | $2557031.25   | 0.19%             | 2029-04-30      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| Dell International LLC / EMC Corp.                                                  | DELL 5.75 02/01/33                                                                                                                                     | CUSIP: 24703DBL4<br>LEI: 254900ZARLSVK41DKO78 | Long             | DBT              | CORP              | US        |    300000 | PA      | $311967.13    | 0.02%             | 2033-02-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Bausch Plus Lomb Corp.                                                              | BLCOCN 8.375 10/01/28 144A                                                                                                                             | CUSIP: 071705AA5<br>LEI: 549300NY6OZM39SO6475 | Long             | DBT              | CORP              | CA        |    675000 | PA      | $697781.25    | 0.05%             | 2028-10-01      | Fixed         | 8.38%                 | No            |                  2 | On Loan: No      |
| NRG Energy, Inc.                                                                    | NRG 6 02/01/33 144A                                                                                                                                    | CUSIP: 629377CW0<br>LEI: 5E2UPK5SW04M13XY7I38 | Long             | DBT              | CORP              | US        |   2000000 | PA      | $2001790.00   | 0.15%             | 2033-02-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Brown & Brown Inc                                                                   | BRO 2.375 03/15/31                                                                                                                                     | CUSIP: 115236AC5<br>LEI: 549300PC8KTJ71XKFY89 | Long             | DBT              | CORP              | US        |    615000 | PA      | $541613.29    | 0.04%             | 2031-03-15      | Fixed         | 2.38%                 | No            |                  2 | On Loan: No      |
| Coca-Cola Co (The)                                                                  | Coca-Cola Co (The) COM                                                                                                                                 | CUSIP: 191216100<br>LEI: UWJKFUJFZ02DKWI3RY53 | Long             | EC               | CORP              | US        |    152096 | NS      | $11566900.80  | 0.85%             |  |  |  | No            |                  1 | On Loan: No      |
| Federal National Mortgage Association                                               | FN FS7252                                                                                                                                              | CUSIP: 3140XPBW8<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   1316580 | PA      | $1303393.00   | 0.10%             | 2053-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Occidental Petroleum Corp.                                                          | OXY 6.625 09/01/30                                                                                                                                     | CUSIP: 674599ED3<br>LEI: IM7X0T3ECJW4C1T7ON55 | Long             | DBT              | CORP              | US        |   2000000 | PA      | $2151652.62   | 0.16%             | 2030-09-01      | Fixed         | 6.62%                 | No            |                  2 | On Loan: No      |
| Air Products & Chemicals, Inc.                                                      | Air Products & Chemicals, Inc. COM                                                                                                                     | CUSIP: 009158106<br>LEI: 7QEON6Y1RL5XR3R1W237 | Long             | EC               | CORP              | US        |     39818 | NS      | $11566730.82  | 0.85%             |  |  |  | No            |                  1 | On Loan: No      |
| BNP Paribas Issuance BV                                                             | BNP 0 07/01/26 000d                                                                                                                                    | CUSIP: 000000000<br>LEI: 7245009UXRIGIRYOBR48 | Long             | DBT              | CORP              | NL        |     25000 | PA      | $4852988.49   | 0.36%             | 2026-07-01      | Fixed         | 9.00%                 | No            |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corp.                                                    | FR SD8494                                                                                                                                              | CUSIP: 3132DWNK5<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   1666306 | PA      | $1675614.39   | 0.12%             | 2055-01-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Hewlett Packard Enterprise Co.                                                      | HPE 5 10/15/34                                                                                                                                         | CUSIP: 42824CBV0<br>LEI: 549300BX44RGX6ANDV88 | Long             | DBT              | CORP              | US        |    750000 | PA      | $726238.33    | 0.05%             | 2034-10-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Vistra Operations Co LLC                                                            | VST 6.875 04/15/32 144A                                                                                                                                | CUSIP: 92840VAR3<br>LEI: 549300ZH5GKBTJZ7NM23 | Long             | DBT              | CORP              | US        |   2900000 | PA      | $3003058.37   | 0.22%             | 2032-04-15      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| SCIH SALT HOLDINGS INC                                                              | MORTON 4.875 05/01/28 144A                                                                                                                             | CUSIP: 78433BAA6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1155000 | PA      | $1142506.71   | 0.08%             | 2028-05-01      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| Asurion LLC / Asurion Co-Issuer Inc.                                                | ASUCOR 8.375 02/01/34 144A                                                                                                                             | CUSIP: 045941AB7<br>LEI: 549300KNQVXGIOXWK278 | Long             | DBT              | CORP              | US        |   2000000 | PA      | $1943144.84   | 0.14%             | 2034-02-01      | Fixed         | 8.38%                 | No            |                  2 | On Loan: No      |
| WYNN RESORTS FINANCE LLC                                                            | WYNFIN 6.25 03/15/33 144A                                                                                                                              | CUSIP: 983133AD1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   3800000 | PA      | $3764334.72   | 0.28%             | 2033-03-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| B.A.T. Capital Corporation                                                          | BATSLN 6.421 08/02/33                                                                                                                                  | CUSIP: 054989AB4<br>LEI: 2138005GYEXN7XRHFA84 | Long             | DBT              | CORP              | US        |    500000 | PA      | $542477.63    | 0.04%             | 2033-08-02      | Fixed         | 6.42%                 | No            |                  2 | On Loan: No      |
| Weatherford International Ltd Bermuda                                               | WFRD 8.625 04/30/30 144A                                                                                                                               | CUSIP: 947075AU1<br>LEI: 549300A2JKMG5PGOGF82 | Long             | DBT              | CORP              | BM        |    748000 | PA      | $762790.20    | 0.06%             | 2030-04-30      | Fixed         | 8.62%                 | No            |                  2 | On Loan: No      |
| Verizon Communications Inc.                                                         | Verizon Communications Inc. COM                                                                                                                        | CUSIP: 92343V104<br>LEI: 2S72QS2UO2OESLG6Y829 | Long             | EC               | CORP              | US        |    476504 | NS      | $23920500.80  | 1.76%             |  |  |  | No            |                  1 | On Loan: No      |
| NRG Energy, Inc.                                                                    | NRG 7 03/15/33 144A                                                                                                                                    | CUSIP: 629377CT7<br>LEI: 5E2UPK5SW04M13XY7I38 | Long             | DBT              | CORP              | US        |    750000 | PA      | $812336.25    | 0.06%             | 2033-03-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                            | G2 MB0424                                                                                                                                              | CUSIP: 3618N5PJ2<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   1212146 | PA      | $1222172.91   | 0.09%             | 2055-06-20      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Fertitta Entertainment LLC / Fertitta Entertainment Finance Co Inc.                 | FRTITA 4.625 01/15/29 144A                                                                                                                             | CUSIP: 31556TAA7<br>LEI: 984500A0805D8V551D35 | Long             | DBT              | CORP              | US        |   1315000 | PA      | $1257550.54   | 0.09%             | 2029-01-15      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| Dominion Energy Inc                                                                 | Dominion Energy Inc COM                                                                                                                                | CUSIP: 25746U109<br>LEI: ILUL7B6Z54MRYCF6H308 | Long             | EC               | CORP              | US        |    119864 | NS      | $7409992.48   | 0.55%             |  |  |  | No            |                  1 | On Loan: No      |
| Medtronic PLC                                                                       | Medtronic PLC SHS                                                                                                                                      | CUSIP: 000000000<br>LEI: 549300GX3ZBSQWUXY261 | Long             | EC               | CORP              | IE        |    100198 | NS      | $8682156.70   | 0.64%             |  |  |  | No            |                  1 | On Loan: No      |
| NXP BV/NXP Funding LLC                                                              | NXPI 5.55 12/01/28                                                                                                                                     | CUSIP: 62947QBC1<br>LEI: 724500RKKW4NOJ9YQF60 | Long             | DBT              | CORP              | NL        |    500000 | PA      | $511590.69    | 0.04%             | 2028-12-01      | Fixed         | 5.55%                 | No            |                  2 | On Loan: No      |
| BNP Paribas Issuance BV                                                             | BNP 10 03/29/27                                                                                                                                        | CUSIP: 000000000<br>LEI: 7245009UXRIGIRYOBR48 | Long             | DBT              | CORP              | NL        |     42000 | PA      | $7957502.23   | 0.59%             | 2027-03-29      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| UBS AG, London Branch                                                               | UBS 10 02/24/27                                                                                                                                        | CUSIP: 90304M477<br>LEI: N/A                  | Long             | DBT              | CORP              | CH        |     30000 | PA      | $6044348.58   | 0.45%             | 2027-02-24      | Fixed         | 10.00%                | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                            | G2 MB0813                                                                                                                                              | CUSIP: 3618N53X5<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   2981086 | PA      | $2956304.37   | 0.22%             | 2055-12-20      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NextEra Energy Inc                                                                  | NEE 7.234 11/01/27                                                                                                                                     | CUSIP: 65339F119<br>LEI: 254900RHL9MEUS5NKX63 | Long             | DBT              | CORP              | US        |    124832 | PA      | $6558673.28   | 0.48%             | 2027-11-01      | Fixed         | 7.23%                 | No            |                  1 | On Loan: No      |
| MORGAN STANLEY FIN LLC                                                              | Morgan Stanley Finance LLC                                                                                                                             | CUSIP: 61772E198<br>LEI: 5493003FCPSE9RKT4B56 | Long             | DBT              | CORP              | US        |     14000 | PA      | $3458706.97   | 0.25%             | 2027-04-08      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| JBS USA HOLDING LUX SARL                                                            | JBS 5.75 04/01/33                                                                                                                                      | CUSIP: 46590XAY2<br>LEI: RB8RC03FUD8DSX57C193 | Long             | DBT              | CORP              | LU        |   2530000 | PA      | $2613149.18   | 0.19%             | 2033-04-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Morgan Stanley                                                                      | MS V5.25 04/21/34 MTN                                                                                                                                  | CUSIP: 61747YFE0<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |   3900000 | PA      | $3913571.30   | 0.29%             | 2034-04-21      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Amazon.com, Inc.                                                                    | Amazon.com, Inc. COM                                                                                                                                   | CUSIP: 023135106<br>LEI: ZXTILKJKG63JELOEG630 | Long             | EC               | CORP              | US        |     10065 | NS      | $2096331.27   | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| Truist Financial Corp.                                                              | TFC V4.916 07/28/33 MTN                                                                                                                                | CUSIP: 89788NAA8<br>LEI: 549300DRQQI75D2JP341 | Long             | DBT              | CORP              | US        |   2540000 | PA      | $2492125.72   | 0.18%             | 2033-07-28      | Fixed         | 4.92%                 | No            |                  2 | On Loan: No      |
| Vistra Operations Co LLC                                                            | VST 4.375 05/01/29 144A                                                                                                                                | CUSIP: 92840VAH5<br>LEI: 549300ZH5GKBTJZ7NM23 | Long             | DBT              | CORP              | US        |   1500000 | PA      | $1465242.20   | 0.11%             | 2029-05-01      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| Energy Transfer LP                                                                  | ET 5.75 02/15/33                                                                                                                                       | CUSIP: 29273VAQ3<br>LEI: MTLVN9N7JE8MIBIJ1H73 | Long             | DBT              | CORP              | US        |   2500000 | PA      | $2600983.23   | 0.19%             | 2033-02-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| United States Treasury Notes                                                        | T 3.5 02/28/31                                                                                                                                         | CUSIP: 91282CQD6<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  15000000 | PA      | $14709960.90  | 1.08%             | 2031-02-28      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| AbbVie Inc.                                                                         | ABBV 4.55 03/15/35                                                                                                                                     | CUSIP: 00287YCY3<br>LEI: FR5LCKFTG8054YNNRU85 | Long             | DBT              | CORP              | US        |    520000 | PA      | $505097.03    | 0.04%             | 2035-03-15      | Fixed         | 4.55%                 | No            |                  2 | On Loan: No      |
| WYNN RESORTS FINANCE LLC                                                            | WYNFIN 7.125 02/15/31 144A                                                                                                                             | CUSIP: 983133AC3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    700000 | PA      | $734156.50    | 0.05%             | 2031-02-15      | Fixed         | 7.12%                 | No            |                  2 | On Loan: No      |
| Philip Morris International Inc.                                                    | Philip Morris International Inc. COM                                                                                                                   | CUSIP: 718172109<br>LEI: HL3H1H2BGXWVG3BSWR90 | Long             | EC               | CORP              | US        |     53756 | NS      | $8888017.04   | 0.65%             |  |  |  | No            |                  1 | On Loan: No      |
| Government National Mortgage Association                                            | G2 MB0557                                                                                                                                              | CUSIP: 3618N5TP4<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   2418107 | PA      | $2460985.13   | 0.18%             | 2055-08-20      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Calumet Specialty Products Partners LP / Calumet Finance Corp                       | CLMT 9.75 07/15/28 144A                                                                                                                                | CUSIP: 131477AW1<br>LEI: 529900QWK0FGLES9BA18 | Long             | DBT              | CORP              | US        |   1500000 | PA      | $1555837.50   | 0.11%             | 2028-07-15      | Fixed         | 9.75%                 | No            |                  2 | On Loan: No      |
| Oracle Corp.                                                                        | ORCL 6.25 11/09/32                                                                                                                                     | CUSIP: 68389XCJ2<br>LEI: 1Z4GXXU7ZHVWFCD8TV52 | Long             | DBT              | CORP              | US        |   3220000 | PA      | $3305688.23   | 0.24%             | 2032-11-09      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| Qnity Electronics Inc.                                                              | QNTELE 5.75 08/15/32 144A                                                                                                                              | CUSIP: 74743LAA8<br>LEI: 254900RSUG4J9TFFZX53 | Long             | DBT              | CORP              | US        |    750000 | PA      | $751830.75    | 0.06%             | 2032-08-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Salesforce Inc.                                                                     | CRM 5.55 03/15/36                                                                                                                                      | CUSIP: 79466LAU8<br>LEI: RCGZFPDMRW58VJ54VR07 | Long             | DBT              | CORP              | US        |   4250000 | PA      | $4238383.01   | 0.31%             | 2036-03-15      | Fixed         | 5.55%                 | No            |                  2 | On Loan: No      |
| Cloud Software Group Inc.                                                           | TIBX 9 09/30/29 144A                                                                                                                                   | CUSIP: 18912UAA0<br>LEI: 04EEB871XLHVNY4RZJ65 | Long             | DBT              | CORP              | US        |   6000000 | PA      | $5793771.60   | 0.43%             | 2029-09-30      | Fixed         | 9.00%                 | No            |                  2 | On Loan: No      |
| R.R. Donnelley & Sons Co.                                                           | RRD 9.5 08/01/29 144A                                                                                                                                  | CUSIP: 257867BJ9<br>LEI: SU4X0P4WWRGOQDTSV032 | Long             | DBT              | CORP              | US        |   2000000 | PA      | $2026028.00   | 0.15%             | 2029-08-01      | Fixed         | 9.50%                 | No            |                  2 | On Loan: No      |
| Southern Co.                                                                        | Southern Co. COM                                                                                                                                       | CUSIP: 842587107<br>LEI: 549300FC3G3YU2FBZD92 | Long             | EC               | CORP              | US        |    117793 | NS      | $11369380.36  | 0.84%             |  |  |  | No            |                  1 | On Loan: No      |
| Oracle Corp.                                                                        | Oracle Corp. DEPOSITARY SHARES EACH REPRESENTING A 1/2,000TH INTEREST IN A SHARE OF 6.50% SERIES D MANDATORY CONVERTIBLE PREFERRED STOCK               | CUSIP: 68389X204<br>LEI: 1Z4GXXU7ZHVWFCD8TV52 | Long             | EP               | CORP              | US        |    176862 | NS      | $7960558.62   | 0.59%             |  |  |  | No            |                  1 | On Loan: No      |
| Government National Mortgage Association                                            | G2 MB0366                                                                                                                                              | CUSIP: 3618N5MQ9<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   1541847 | PA      | $1553973.62   | 0.11%             | 2055-05-20      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                                               | FN MA5910                                                                                                                                              | CUSIP: 31418FR82<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   4848376 | PA      | $4874323.57   | 0.36%             | 2055-12-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Goldman Sachs Group, Inc.                                                           | GS V6.561 10/24/34                                                                                                                                     | CUSIP: 38141GA53<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | DBT              | CORP              | US        |    825000 | PA      | $897278.18    | 0.07%             | 2034-10-24      | Fixed         | 6.56%                 | No            |                  2 | On Loan: No      |
| UBS AG                                                                              | UBS AG                                                                                                                                                 | CUSIP: 90304M485<br>LEI: BFM8T61CT2L1QCEMIK50 | Long             | DBT              | CORP              | CH        |    100000 | PA      | $4986981.16   | 0.37%             | 2027-03-03      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| Albemarle Corp                                                                      | Albemarle Corp DEPOSITARY SHARES EACH REPRESENTING A 1/20TH INTEREST IN A SHARE OF 7.25% SERIES A MANDATORY CONVERTIBLE PREFERRED STOCK                | CUSIP: 012653200<br>LEI: HDBLS2Q6GV1LSKQPBS54 | Long             | EP               | CORP              | US        |    210086 | NS      | $15094679.10  | 1.11%             |  |  |  | No            |                  1 | On Loan: No      |
| PG&E Corporation                                                                    | PCG 5.25 07/01/30                                                                                                                                      | CUSIP: 69331CAJ7<br>LEI: 8YQ2GSDWYZXO2EDN3511 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $987322.10    | 0.07%             | 2030-07-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| NRG Energy, Inc.                                                                    | NRG 6.25 11/01/34 144A                                                                                                                                 | CUSIP: 629377CX8<br>LEI: 5E2UPK5SW04M13XY7I38 | Long             | DBT              | CORP              | US        |   1500000 | PA      | $1513180.79   | 0.11%             | 2034-11-01      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| Ford Motor Company                                                                  | F 6.1 08/19/32                                                                                                                                         | CUSIP: 345370DB3<br>LEI: 20S05OYHG0MQM4VUIC57 | Long             | DBT              | CORP              | US        |   9300000 | PA      | $9381947.04   | 0.69%             | 2032-08-19      | Fixed         | 6.10%                 | No            |                  2 | On Loan: No      |
| Abbott Laboratories                                                                 | Abbott Laboratories COM                                                                                                                                | CUSIP: 002824100<br>LEI: HQD377W2YR662HK5JX27 | Long             | EC               | CORP              | US        |       216 | NS      | $22176.72     | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Duke Energy Corp                                                                    | Duke Energy Corp COM NEW                                                                                                                               | CUSIP: 26441C204<br>LEI: I1BZKREC126H0VB1BL91 | Long             | EC               | CORP              | US        |    129048 | NS      | $16897545.12  | 1.24%             |  |  |  | No            |                  1 | On Loan: No      |
| United States Treasury Bonds                                                        | T 4.75 05/15/55                                                                                                                                        | CUSIP: 912810UK2<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  17000000 | PA      | $16558398.48  | 1.22%             | 2055-05-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| Microsoft Corp.                                                                     | Microsoft Corp. COM                                                                                                                                    | CUSIP: 594918104<br>LEI: INR2EJN1ERAN0W5ZP974 | Long             | EC               | CORP              | US        |      5798 | NS      | $2146245.66   | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Regal Rexnord Corporation                                                           | RRX 6.3 02/15/30 *                                                                                                                                     | CUSIP: 758750AN3<br>LEI: QH78R09VCJGQKPBPYU33 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $1048213.51   | 0.08%             | 2030-02-15      | Fixed         | 6.30%                 | No            |                  2 | On Loan: No      |
| Siemens AG                                                                          | Siemens AG NPV(REGD)                                                                                                                                   | CUSIP: 000000000<br>LEI: W38RGI023J3WT1HWRP32 | Long             | EC               | CORP              | DE        |     39416 | NS      | $9371484.71   | 0.69%             |  |  |  | No            |                  1 | On Loan: No      |
| ROYAL BANK OF CANADA                                                                | Royal Bank of Canada                                                                                                                                   | CUSIP: 000000000<br>LEI: ES7IP3U3RHIGC71XBU11 | Long             | DBT              | CORP              | CA        |     20000 | PA      | $3768956.30   | 0.28%             | 2026-08-20      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| Teva Pharmaceutical Finance Netherlands III B.V.                                    | TEVA 6.75 03/01/28                                                                                                                                     | CUSIP: 88167AAK7<br>LEI: 5493004T21MOAFINJP35 | Long             | DBT              | CORP              | NL        |    600000 | PA      | $615255.00    | 0.05%             | 2028-03-01      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| Ford Motor Company                                                                  | F 3.25 02/12/32                                                                                                                                        | CUSIP: 345370DA5<br>LEI: 20S05OYHG0MQM4VUIC57 | Long             | DBT              | CORP              | US        |   1750000 | PA      | $1520603.60   | 0.11%             | 2032-02-12      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                            | G2 MB0623                                                                                                                                              | CUSIP: 3618N5VR7<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   4908236 | PA      | $4944443.59   | 0.36%             | 2055-09-20      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Lockheed Martin Corporation                                                         | Lockheed Martin Corporation COM                                                                                                                        | CUSIP: 539830109<br>LEI: DPRBOZP0K5RM2YE8UU08 | Long             | EC               | CORP              | US        |     14499 | NS      | $8763050.61   | 0.65%             |  |  |  | No            |                  1 | On Loan: No      |
| DTE Energy Co.                                                                      | DTE Energy Co. COM                                                                                                                                     | CUSIP: 233331107<br>LEI: 549300IX8SD6XXD71I78 | Long             | EC               | CORP              | US        |    108840 | NS      | $15914584.80  | 1.17%             |  |  |  | No            |                  1 | On Loan: No      |
| The Charles Schwab Corporation                                                      | SCHW V5.853 05/19/34                                                                                                                                   | CUSIP: 808513CE3<br>LEI: 549300VSGCJ7E698NM85 | Long             | DBT              | CORP              | US        |    490000 | PA      | $514909.11    | 0.04%             | 2034-05-19      | Fixed         | 5.85%                 | No            |                  2 | On Loan: No      |
| Bank of America Corp.                                                               | Bank of America Corp. COM                                                                                                                              | CUSIP: 060505104<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | EC               | CORP              | US        |    171074 | NS      | $8339857.50   | 0.61%             |  |  |  | No            |                  1 | On Loan: No      |
| CHEVRON CORP                                                                        | Chevron Corp. COM                                                                                                                                      | CUSIP: 166764100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     92623 | NS      | $19163698.70  | 1.41%             |  |  |  | No            |                  1 | On Loan: No      |
| Government National Mortgage Association                                            | G2 MB0686                                                                                                                                              | CUSIP: 3618N5XQ7<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   4142762 | PA      | $4173323.55   | 0.31%             | 2055-10-20      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Bank of America Corp.                                                               | BAC V4.571 04/27/33                                                                                                                                    | CUSIP: 06051GKQ1<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |   1500000 | PA      | $1474421.34   | 0.11%             | 2033-04-27      | Fixed         | 4.57%                 | No            |                  2 | On Loan: No      |
| Calumet Specialty Products Partners LP / Calumet Finance Corp                       | CLMT 9.25 07/15/29 144A                                                                                                                                | CUSIP: 131477AX9<br>LEI: 529900QWK0FGLES9BA18 | Long             | DBT              | CORP              | US        |    300000 | PA      | $305625.00    | 0.02%             | 2029-07-15      | Fixed         | 9.25%                 | No            |                  2 | On Loan: No      |
| NCL Corporation Ltd.                                                                | NCLH 6.75 02/01/32 144A                                                                                                                                | CUSIP: 62886HBR1<br>LEI: UNZWILHE4KMRP9K2L524 | Long             | DBT              | CORP              | BM        |    300000 | PA      | $297942.81    | 0.02%             | 2032-02-01      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| Citigroup Inc.                                                                      | C V6.27 11/17/33                                                                                                                                       | CUSIP: 172967PA3<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |    500000 | PA      | $534641.06    | 0.04%             | 2033-11-17      | Fixed         | 6.27%                 | No            |                  2 | On Loan: No      |
| CVS Health Corp                                                                     | CVS 5.25 02/21/33                                                                                                                                      | CUSIP: 126650DU1<br>LEI: 549300EJG376EN5NQE29 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $1011867.42   | 0.07%             | 2033-02-21      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Southern Co.                                                                        | SO V6.375 03/15/55 2025                                                                                                                                | CUSIP: 842587EB9<br>LEI: 549300FC3G3YU2FBZD92 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $1028935.00   | 0.08%             | 2055-03-15      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| UBS AG                                                                              | UBS AG                                                                                                                                                 | CUSIP: 90304M378<br>LEI: BFM8T61CT2L1QCEMIK50 | Long             | DBT              | CORP              | CH        |     87000 | PA      | $11205782.44  | 0.83%             | 2026-12-04      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                                               | FN MA5793                                                                                                                                              | CUSIP: 31418FNK9<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   2062027 | PA      | $2103090.69   | 0.15%             | 2055-08-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Wynn Las Vegas, LLC/Wynn Las Vegas Capital Corp.                                    | WYNNLV 5.25 05/15/27 144A                                                                                                                              | CUSIP: 983130AX3<br>LEI: 2549002X45DR4UI7NA62 | Long             | DBT              | CORP              | US        |    775000 | PA      | $772630.44    | 0.06%             | 2027-05-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| BANK OF AMERICA NA                                                                  | Bank of America NA                                                                                                                                     | CUSIP: 59027W401<br>LEI: B4TYDEB6GKMZO031MB27 | Long             | DBT              | CORP              | US        |     50000 | PA      | $3158711.56   | 0.23%             | 2026-09-03      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| The Toronto-Dominion Bank                                                           | TD 7.5 08/19/26 MTN                                                                                                                                    | CUSIP: 000000000<br>LEI: PT3QB789TSUIDF371261 | Long             | DBT              | CORP              | CA        |     20000 | PA      | $4638528.17   | 0.34%             | 2026-08-19      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| United States Treasury Notes                                                        | T 4 11/15/35                                                                                                                                           | CUSIP: 91282CPJ4<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  22500000 | PA      | $21949804.80  | 1.62%             | 2035-11-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| American Electric Power Co, Inc.                                                    | AEP 5.625 03/01/33                                                                                                                                     | CUSIP: 025537AX9<br>LEI: 1B4S6S7G0TW5EE83BO58 | Long             | DBT              | CORP              | US        |    300000 | PA      | $310145.40    | 0.02%             | 2033-03-01      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| Roche Holding AG                                                                    | Roche Holding AG SPONSORED ADR                                                                                                                         | CUSIP: 771195104<br>LEI: 549300U41AUUVOAAOB37 | Long             | EC               | CORP              | CH        |    246187 | NS      | $12237955.77  | 0.90%             |  |  |  | No            |                  1 | On Loan: No      |
| Connect Holding II LLC                                                              | BSPEED 10.5 04/03/31 144A                                                                                                                              | CUSIP: 20753PAD3<br>LEI: 254900LCX7S2QHYUOI31 | Long             | DBT              | CORP              | US        |   2000000 | PA      | $1989676.36   | 0.15%             | 2031-04-03      | Fixed         | 10.50%                | No            |                  2 | On Loan: No      |
| Mizuho Markets Cayman LP                                                            | Mizuho Markets Cayman LP NOTES ISSUED LINKED TO THE COMMON STOCK OF META PLATFORMS, INC. DUE ON DECEMBER 7, 2026                                       | CUSIP: 60701B523<br>LEI: 549300KHUXLS6Q30KT26 | Long             | EP               | CORP              | KY        |      7250 | NS      | $4178776.02   | 0.31%             |  |  |  | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                                               | FN MA5945                                                                                                                                              | CUSIP: 31418FTB3<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   3234656 | PA      | $3252481.11   | 0.24%             | 2056-01-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| U.S. Bancorp.                                                                       | U.S. Bancorp. COM NEW                                                                                                                                  | CUSIP: 902973304<br>LEI: N1GZ7BBF3NP8GI976H15 | Long             | EC               | CORP              | US        |    125219 | NS      | $6512640.19   | 0.48%             |  |  |  | No            |                  1 | On Loan: No      |
| Cleveland-Cliffs Inc                                                                | CLF 6.75 04/15/30 144A                                                                                                                                 | CUSIP: 185899AN1<br>LEI: 549300TM2WLI2BJMDD86 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $976243.41    | 0.07%             | 2030-04-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| Boeing Co.                                                                          | BA 6.528 05/01/34                                                                                                                                      | CUSIP: 097023DS1<br>LEI: RVHJWBXLJ1RFUBSY1F30 | Long             | DBT              | CORP              | US        |   1500000 | PA      | $1634639.52   | 0.12%             | 2034-05-01      | Fixed         | 6.53%                 | No            |                  2 | On Loan: No      |
| Wells Fargo Bank, National Association                                              | Wells Fargo Bank, National Association MANDATORILY EXCHANGEABLE INTO SHARES OF COMMON STOCK, OR THE CASH VALUE OF SUCH SHARES, OF TARGET CORPORATION D | CUSIP: 95003X559<br>LEI: KB1H1DSPRFMYMCUFXT09 | Long             | EP               | CORP              | US        |     33000 | NS      | $3919448.97   | 0.29%             |  |  |  | No            |                  2 | On Loan: No      |
| General Motors Financial Company Inc                                                | GM 6.4 01/09/33                                                                                                                                        | CUSIP: 37045XED4<br>LEI: 5493008B6JBRUJ90QL97 | Long             | DBT              | CORP              | US        |   2000000 | PA      | $2120296.58   | 0.16%             | 2033-01-09      | Fixed         | 6.40%                 | No            |                  2 | On Loan: No      |
| EMRLD Borrower LP / Emerald Co-Issuer Inc.                                          | EMECLI 6.625 12/15/30 144A                                                                                                                             | CUSIP: 29103CAA6<br>LEI: 5493000GJYE7GAQCUC61 | Long             | DBT              | CORP              | US        |    500000 | PA      | $509154.50    | 0.04%             | 2030-12-15      | Fixed         | 6.62%                 | No            |                  2 | On Loan: No      |
| Caesars Entertainment Inc.                                                          | CZR 6 10/15/32 144A                                                                                                                                    | CUSIP: 12769GAD2<br>LEI: 549300FA4CTCW903Y781 | Long             | DBT              | CORP              | US        |   5000000 | PA      | $4606144.10   | 0.34%             | 2032-10-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Citigroup Global Markets Holdings Inc.                                              | C 12 06/09/26 0006                                                                                                                                     | CUSIP: 000000000<br>LEI: 82VOJDD5PTRDMVVMGV31 | Long             | DBT              | CORP              | US        |     50000 | PA      | $2236216.93   | 0.16%             | 2026-06-09      | Fixed         | 12.00%                | No            |                  2 | On Loan: No      |
| BARCLAYS BANK PLC                                                                   | Barclays Bank PLC                                                                                                                                      | CUSIP: 06748U511<br>LEI: G5GSEF7VJP5I7OUK5573 | Long             | DBT              | CORP              | GB        |     33000 | PA      | $6123478.45   | 0.45%             | 2027-03-15      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| MORGAN STANLEY FIN LLC                                                              | Morgan Stanley Finance LLC                                                                                                                             | CUSIP: 61772E222<br>LEI: 5493003FCPSE9RKT4B56 | Long             | DBT              | CORP              | US        |     40000 | PA      | $11518595.99  | 0.85%             | 2027-03-30      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| MERRILL LYNCH BV                                                                    | Merrill Lynch BV                                                                                                                                       | CUSIP: 59028A119<br>LEI: 549300RQ1D1WIE085245 | Long             | DBT              | CORP              | NL        |      7500 | PA      | $2080819.61   | 0.15%             | 2026-09-25      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| DELTA AIR LINES INC                                                                 | DAL 4.75 10/20/28 144A                                                                                                                                 | CUSIP: 830867AB3<br>LEI: Q2CCMS6R0AS67HJMBN42 | Long             | DBT              | CORP              | US        |   1741667 | PA      | $1739775.27   | 0.13%             | 2028-10-20      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| Institutional Fidu                                                                  | Institutional Fidu US GOVT MNY MRKT                                                                                                                    | CUSIP: 457756500<br>LEI: 549300DHQLI8W1JIXY85 | Long             | STIV             | RF                | US        |  73964575 | NS      | $73964575.24  | 5.45%             |  |  |  | No            |                  1 | On Loan: No      |
| Calumet Specialty Products Partners LP / Calumet Finance Corp                       | CLMT 9.75 02/15/31 144A                                                                                                                                | CUSIP: 131477BA8<br>LEI: 529900QWK0FGLES9BA18 | Long             | DBT              | CORP              | US        |   2500000 | PA      | $2657402.35   | 0.20%             | 2031-02-15      | Fixed         | 9.75%                 | No            |                  2 | On Loan: No      |
| United Parcel Service, Inc.                                                         | United Parcel Service, Inc. CL B                                                                                                                       | CUSIP: 911312106<br>LEI: D01LMJZU09ULLNCY6Z23 | Long             | EC               | CORP              | US        |       114 | NS      | $11215.32     | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Federal National Mortgage Association                                               | FN MA5531                                                                                                                                              | CUSIP: 31418FED5<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   1644131 | PA      | $1653407.49   | 0.12%             | 2054-11-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| McDonald's Corp.                                                                    | McDonald's Corp. COM                                                                                                                                   | CUSIP: 580135101<br>LEI: UE2136O97NLB5BYP9H04 | Long             | EC               | CORP              | US        |     12497 | NS      | $3883942.63   | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| FMG Resources (August 2006) Pty Ltd.                                                | FMGAU 4.375 04/01/31 144A                                                                                                                              | CUSIP: 30251GBC0<br>LEI: 549300EFD6S2NFE9D745 | Long             | DBT              | CORP              | AU        |   1000000 | PA      | $945744.50    | 0.07%             | 2031-04-01      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| Broadcom Inc                                                                        | AVGO 3.469 04/15/34                                                                                                                                    | CUSIP: 11135FCT6<br>LEI: 549300WV6GIDOZJTV909 | Long             | DBT              | CORP              | US        |   1315000 | PA      | $1184749.63   | 0.09%             | 2034-04-15      | Fixed         | 3.47%                 | No            |                  2 | On Loan: No      |
| Ares Management Corporation                                                         | Ares Management Corporation 6.75% SERIES B MANDATORY CONVERTIBLE PREFERRED STOCK                                                                       | CUSIP: 03990B309<br>LEI: 529900JUV61FH7B8VW38 | Long             | EP               | CORP              | US        |    179335 | NS      | $6488340.30   | 0.48%             |  |  |  | No            |                  1 | On Loan: No      |
| Federal Home Loan Mortgage Corp.                                                    | FR SD8372                                                                                                                                              | CUSIP: 3132DWJR5<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    405802 | PA      | $408928.16    | 0.03%             | 2053-11-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Royal Caribbean Group                                                               | RCL 6.25 03/15/32 144A                                                                                                                                 | CUSIP: 780153BU5<br>LEI: K2NEH8QNVW44JIWK7Z55 | Long             | DBT              | CORP              | LR        |    600000 | PA      | $613542.68    | 0.05%             | 2032-03-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| Morgan Stanley                                                                      | Morgan Stanley COM NEW                                                                                                                                 | CUSIP: 617446448<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | EC               | CORP              | US        |     37923 | NS      | $6240988.11   | 0.46%             |  |  |  | No            |                  1 | On Loan: No      |
| UnitedHealth Group Inc.                                                             | UNH 5.35 02/15/33                                                                                                                                      | CUSIP: 91324PER9<br>LEI: 549300GHBMY8T5GXDE41 | Long             | DBT              | CORP              | US        |    500000 | PA      | $513578.39    | 0.04%             | 2033-02-15      | Fixed         | 5.35%                 | No            |                  2 | On Loan: No      |
| Citigroup Global Markets Holdings Inc.                                              | C 8 10/28/26 0004                                                                                                                                      | CUSIP: 000000000<br>LEI: 82VOJDD5PTRDMVVMGV31 | Long             | DBT              | CORP              | US        |    165000 | PA      | $12075786.76  | 0.89%             | 2026-10-28      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corp.                                                    | FR SD8342                                                                                                                                              | CUSIP: 3132DWHT3<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    407762 | PA      | $411337.81    | 0.03%             | 2053-07-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| JPMorgan Chase Bank, National Association                                           | JPMorgan Chase Bank, National Association MANDATORY EXCHANGEABLE NOTES LINKED TO SHARES OF SLB LTD DUE ON JANUARY 11, 2027                             | CUSIP: 466303575<br>LEI: 7H6GLXDRUGQFU57RNE97 | Long             | EP               | CORP              | US        |     75000 | NS      | $3190613.25   | 0.24%             |  |  |  | No            |                  2 | On Loan: No      |
| United States Treasury Notes                                                        | T 3.375 11/30/27                                                                                                                                       | CUSIP: 91282CPL9<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   6000000 | PA      | $5956171.86   | 0.44%             | 2027-11-30      | Fixed         | 3.38%                 | No            |                  2 | On Loan: No      |
| Oracle Corp.                                                                        | ORCL 5.7 02/04/36                                                                                                                                      | CUSIP: 68389XDZ5<br>LEI: 1Z4GXXU7ZHVWFCD8TV52 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $961921.71    | 0.07%             | 2036-02-04      | Fixed         | 5.70%                 | No            |                  2 | On Loan: No      |
| Matador Resources Company                                                           | MTDR 6.5 04/15/32 144A                                                                                                                                 | CUSIP: 576485AG1<br>LEI: 549300CI3Q2UUK5R4G79 | Long             | DBT              | CORP              | US        |    450000 | PA      | $455229.01    | 0.03%             | 2032-04-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| WELLS FARGO BANK NA                                                                 | Wells Fargo Bank NA                                                                                                                                    | CUSIP: 95004P449<br>LEI: KB1H1DSPRFMYMCUFXT09 | Long             | DBT              | CORP              | US        |     50000 | PA      | $4393959.04   | 0.32%             | 2026-10-22      | Fixed         | 9.50%                 | No            |                  2 | On Loan: No      |
| CLOUD SOFTWARE GROUP HOLDINGS INC                                                   | TIBX 6.5 03/31/29 144A                                                                                                                                 | CUSIP: 88632QAE3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2900000 | PA      | $2832010.37   | 0.21%             | 2029-03-31      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Dell Technologies Inc                                                               | Dell Technologies Inc CL C                                                                                                                             | CUSIP: 24703L202<br>LEI: 549300TJB5YBRUPOG437 | Long             | EC               | CORP              | US        |     13881 | NS      | $2278288.53   | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| Royal Bank of Canada                                                                | Royal Bank of Canada MANDATORILY EXCHANGEABLE NOTES LINKED TO THE COMMON SHARES OF QUALCOMM INC DUE FEBRUARY 12, 2027                                  | CUSIP: 78017W148<br>LEI: ES7IP3U3RHIGC71XBU11 | Long             | EP               | CORP              | CA        |     30000 | NS      | $4042063.94   | 0.30%             |  |  |  | No            |                  2 | On Loan: No      |
| CHS/Community Health Systems Inc                                                    | CYH 6.875 04/15/29 144A                                                                                                                                | CUSIP: 12543DBJ8<br>LEI: 5493007X5NC5XI1BB106 | Long             | DBT              | CORP              | US        |   2000000 | PA      | $1925335.60   | 0.14%             | 2029-04-15      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| The Procter & Gamble Co.                                                            | The Procter & Gamble Co. COM                                                                                                                           | CUSIP: 742718109<br>LEI: 2572IBTT8CCZW6AU4141 | Long             | EC               | CORP              | US        |    176914 | NS      | $25553458.16  | 1.88%             |  |  |  | No            |                  1 | On Loan: No      |
| Fertitta Entertainment LLC / Fertitta Entertainment Finance Co Inc.                 | FRTITA 6.75 01/15/30 144A                                                                                                                              | CUSIP: 31556TAC3<br>LEI: 984500A0805D8V551D35 | Long             | DBT              | CORP              | US        |   4500000 | PA      | $4206678.30   | 0.31%             | 2030-01-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| Cheniere Corpus Christi Holdings, LLC                                               | CHCOCH 3.7 11/15/29                                                                                                                                    | CUSIP: 16412XAJ4<br>LEI: 549300I7CIEWU1BBLQ53 | Long             | DBT              | CORP              | US        |    800000 | PA      | $777487.18    | 0.06%             | 2029-11-15      | Fixed         | 3.70%                 | No            |                  2 | On Loan: No      |
| Carrier Global Corporation                                                          | CARR 2.722 02/15/30                                                                                                                                    | CUSIP: 14448CAQ7<br>LEI: 549300JE3W6CWY2NAN77 | Long             | DBT              | CORP              | US        |    850000 | PA      | $794124.42    | 0.06%             | 2030-02-15      | Fixed         | 2.72%                 | No            |                  2 | On Loan: No      |
| FMG Resources (August 2006) Pty Ltd.                                                | FMGAU 6.125 04/15/32 144A                                                                                                                              | CUSIP: 30251GBE6<br>LEI: 549300EFD6S2NFE9D745 | Long             | DBT              | CORP              | AU        |    770000 | PA      | $787500.28    | 0.06%             | 2032-04-15      | Fixed         | 6.12%                 | No            |                  2 | On Loan: No      |
| UBS AG LONDON BRANCH                                                                | UBS 8 07/13/26                                                                                                                                         | CUSIP: 90304M253<br>LEI: N/A                  | Long             | DBT              | CORP              | GB        |      7500 | PA      | $1520638.85   | 0.11%             | 2026-07-13      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| Tenet Healthcare Corporation                                                        | THC 4.25 06/01/29                                                                                                                                      | CUSIP: 88033GDM9<br>LEI: 0W9AIBT6U6ADJ2I8HK17 | Long             | DBT              | CORP              | US        |   6000000 | PA      | $5821656.90   | 0.43%             | 2029-06-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| Tenet Healthcare Corporation                                                        | THC 6.125 10/01/28                                                                                                                                     | CUSIP: 88033GDK3<br>LEI: 0W9AIBT6U6ADJ2I8HK17 | Long             | DBT              | CORP              | US        |   2363000 | PA      | $2369851.40   | 0.17%             | 2028-10-01      | Fixed         | 6.12%                 | No            |                  2 | On Loan: No      |
| SCIH SALT HOLDINGS INC                                                              | MORTON 6.625 05/01/29 144A                                                                                                                             | CUSIP: 78433BAB4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1250000 | PA      | $1244800.00   | 0.09%             | 2029-05-01      | Fixed         | 6.62%                 | No            |                  2 | On Loan: No      |
| United Air Lines, Inc.                                                              | UAL 4.625 04/15/29 144A                                                                                                                                | CUSIP: 90932LAH0<br>LEI: K1OQBWM7XEOO08LDNP29 | Long             | DBT              | CORP              | US        |   2500000 | PA      | $2454447.25   | 0.18%             | 2029-04-15      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| BNP PARIBAS ISSUANCE BV                                                             | BNP 0 10/14/26 Emu5                                                                                                                                    | CUSIP: 000000000<br>LEI: 7245009UXRIGIRYOBR48 | Long             | DBT              | CORP              | NL        |    110000 | PA      | $9035903.43   | 0.67%             | 2026-10-14      | Fixed         | 0.01%                 | No            |                  2 | On Loan: No      |
| BARCLAYS BANK PLC                                                                   | Barclays Bank PLC                                                                                                                                      | CUSIP: 06748U420<br>LEI: G5GSEF7VJP5I7OUK5573 | Long             | DBT              | CORP              | GB        |    125000 | PA      | $6863970.67   | 0.51%             | 2027-02-12      | Fixed         | 10.00%                | No            |                  2 | On Loan: No      |
| Netflix, Inc.                                                                       | NFLX 5.875 11/15/28                                                                                                                                    | CUSIP: 64110LAT3<br>LEI: 549300Y7VHGU0I7CE873 | Long             | DBT              | CORP              | US        |    945000 | PA      | $983342.11    | 0.07%             | 2028-11-15      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| Target Corp.                                                                        | Target Corp. COM                                                                                                                                       | CUSIP: 87612E106<br>LEI: 8WDDFXB5T1Z6J0XC1L66 | Long             | EC               | CORP              | US        |     31012 | NS      | $3758654.40   | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| Vistra Operations Co LLC                                                            | VST 6.95 10/15/33 144A                                                                                                                                 | CUSIP: 92840VAQ5<br>LEI: 549300ZH5GKBTJZ7NM23 | Long             | DBT              | CORP              | US        |    800000 | PA      | $871070.40    | 0.06%             | 2033-10-15      | Fixed         | 6.95%                 | No            |                  2 | On Loan: No      |
| United States Treasury Notes                                                        | T 4.25 11/15/34                                                                                                                                        | CUSIP: 91282CLW9<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   4000000 | PA      | $3999609.36   | 0.29%             | 2034-11-15      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| CoreWeave Inc.                                                                      | CRWV 9 02/01/31 144A                                                                                                                                   | CUSIP: 21873SAC2<br>LEI: 984500511DP2B6186053 | Long             | DBT              | CORP              | US        |   2000000 | PA      | $1905537.80   | 0.14%             | 2031-02-01      | Fixed         | 9.00%                 | No            |                  2 | On Loan: No      |
| ArcelorMittal S.A.                                                                  | MTNA 6.8 11/29/32                                                                                                                                      | CUSIP: 03938LBF0<br>LEI: 2EULGUTUI56JI9SAL165 | Long             | DBT              | CORP              | LU        |    485000 | PA      | $535624.74    | 0.04%             | 2032-11-29      | Fixed         | 6.80%                 | No            |                  2 | On Loan: No      |
| Venture Global Plaquemines Lng LLC                                                  | VEGLPL 7.75 05/01/35 144A                                                                                                                              | CUSIP: 922966AB2<br>LEI: 549300TKP4I6OJ02BF90 | Long             | DBT              | CORP              | US        |   2000000 | PA      | $2242806.00   | 0.17%             | 2035-05-01      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| Mauser Packaging Solutions Holding Co.                                              | BWY 9.25 04/15/30 144A                                                                                                                                 | CUSIP: 57763RAF4<br>LEI: 549300DNGHXL0OMHW304 | Long             | DBT              | CORP              | US        |   3000000 | PA      | $2789933.40   | 0.21%             | 2030-04-15      | Fixed         | 9.25%                 | No            |                  2 | On Loan: No      |
| KKR & Co Inc.                                                                       | KKR & Co Inc. 6.25% SERIES D MANDATORY CONVERTIBLE PREFERRED STOCK                                                                                     | CUSIP: 48251W500<br>LEI: 54930013V5I303TF9571 | Long             | EP               | CORP              | US        |    108872 | NS      | $4378831.84   | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |
| Royal Bank of Canada                                                                | Royal Bank of Canada MANDATORILY EXCHANGEABLE NOTES LINKED TO THE COMMON SHARES OF ORACLE CORP DUE MAY 13, 2026                                        | CUSIP: 78017L175<br>LEI: ES7IP3U3RHIGC71XBU11 | Long             | EP               | CORP              | CA        |     14400 | NS      | $2091815.50   | 0.15%             |  |  |  | No            |                  2 | On Loan: No      |
| U.S. Bancorp.                                                                       | USB V5.836 06/12/34                                                                                                                                    | CUSIP: 91159HJN1<br>LEI: N1GZ7BBF3NP8GI976H15 | Long             | DBT              | CORP              | US        |   2500000 | PA      | $2610365.55   | 0.19%             | 2034-06-12      | Fixed         | 5.84%                 | No            |                  2 | On Loan: No      |
| United States Treasury Notes                                                        | T 3.75 11/30/32                                                                                                                                        | CUSIP: 91282CPM7<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   6000000 | PA      | $5873085.96   | 0.43%             | 2032-11-30      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| Philip Morris International Inc.                                                    | PM 5.375 02/15/33                                                                                                                                      | CUSIP: 718172DB2<br>LEI: HL3H1H2BGXWVG3BSWR90 | Long             | DBT              | CORP              | US        |    500000 | PA      | $514148.89    | 0.04%             | 2033-02-15      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| BNP Paribas Issuance BV                                                             | BNP 10 08/28/26                                                                                                                                        | CUSIP: 000000000<br>LEI: 7245009UXRIGIRYOBR48 | Long             | DBT              | CORP              | NL        |     97000 | PA      | $4484998.69   | 0.33%             | 2026-08-28      | Fixed         | 10.00%                | No            |                  2 | On Loan: No      |
| Tenet Healthcare Corporation                                                        | THC 6.75 05/15/31                                                                                                                                      | CUSIP: 88033GDU1<br>LEI: 0W9AIBT6U6ADJ2I8HK17 | Long             | DBT              | CORP              | US        |   2500000 | PA      | $2556820.00   | 0.19%             | 2031-05-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| CITIGROUP GLOBAL MARKETS                                                            | Citigroup Global Markets Holdings Inc/United States                                                                                                    | CUSIP: 17333Q310<br>LEI: 82VOJDD5PTRDMVVMGV31 | Long             | DBT              | CORP              | US        |     20000 | PA      | $2652256.47   | 0.20%             | 2027-02-24      | Fixed         | 10.00%                | No            |                  2 | On Loan: No      |
| Regal Rexnord Corporation                                                           | RRX 6.4 04/15/33                                                                                                                                       | CUSIP: 758750AP8<br>LEI: QH78R09VCJGQKPBPYU33 | Long             | DBT              | CORP              | US        |    500000 | PA      | $528727.44    | 0.04%             | 2033-04-15      | Fixed         | 6.40%                 | No            |                  2 | On Loan: No      |
| Boeing Co.                                                                          | BA 5.15 05/01/30                                                                                                                                       | CUSIP: 097023CY9<br>LEI: RVHJWBXLJ1RFUBSY1F30 | Long             | DBT              | CORP              | US        |   3060000 | PA      | $3112324.71   | 0.23%             | 2030-05-01      | Fixed         | 5.15%                 | No            |                  2 | On Loan: No      |
| Macquarie Airfinance Holdings Ltd                                                   | MCAIRH 6.4 03/26/29 144A                                                                                                                               | CUSIP: 55609NAC2<br>LEI: 549300MCGUSL5B852H65 | Long             | DBT              | CORP              | GB        |    500000 | PA      | $518224.48    | 0.04%             | 2029-03-26      | Fixed         | 6.40%                 | No            |                  2 | On Loan: No      |
| Venture Global LNG Inc.                                                             | VENLNG 9.875 02/01/32 144A                                                                                                                             | CUSIP: 92332YAD3<br>LEI: 54930011XLBUWMQUC829 | Long             | DBT              | CORP              | US        |   5000000 | PA      | $5372390.00   | 0.40%             | 2032-02-01      | Fixed         | 9.88%                 | No            |                  2 | On Loan: No      |
| BNP Paribas Issuance BV                                                             | BNP 11 10/07/26                                                                                                                                        | CUSIP: 000000000<br>LEI: 7245009UXRIGIRYOBR48 | Long             | DBT              | CORP              | NL        |     25000 | PA      | $2591711.75   | 0.19%             | 2026-10-07      | Fixed         | 11.00%                | No            |                  2 | On Loan: No      |
| Cleveland-Cliffs Inc                                                                | CLF 7 03/15/32 144A                                                                                                                                    | CUSIP: 185899AP6<br>LEI: 549300TM2WLI2BJMDD86 | Long             | DBT              | CORP              | US        |   3000000 | PA      | $2906406.90   | 0.21%             | 2032-03-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| Barclays Bank plc                                                                   | BACR 0 12/16/26 F0UZ                                                                                                                                   | CUSIP: 000000000<br>LEI: G5GSEF7VJP5I7OUK5573 | Long             | DBT              | CORP              | GB        |     60000 | PA      | $12973054.73  | 0.96%             | 2026-12-16      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| Carnival Corporation                                                                | CCL 6.125 02/15/33 144A                                                                                                                                | CUSIP: 143658BX9<br>LEI: F1OF2ZSX47CR0BCWA982 | Long             | DBT              | CORP              | PA        |   2000000 | PA      | $2021060.00   | 0.15%             | 2033-02-15      | Fixed         | 6.12%                 | No            |                  2 | On Loan: No      |
| Lowes Companies, Inc.                                                               | LOW 5 04/15/33                                                                                                                                         | CUSIP: 548661EL7<br>LEI: WAFCR4OKGSC504WU3E95 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $1005866.73   | 0.07%             | 2033-04-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Bombardier Inc.                                                                     | BBDBCN 7.25 07/01/31 144A                                                                                                                              | CUSIP: 097751CB5<br>LEI: W7L3VLU8EHQY34Z36697 | Long             | DBT              | CORP              | CA        |    600000 | PA      | $629500.20    | 0.05%             | 2031-07-01      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| CCO HOLDINGS LLC                                                                    | CHTR 4.75 03/01/30 144A                                                                                                                                | CUSIP: 1248EPCD3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1200000 | PA      | $1139405.00   | 0.08%             | 2030-03-01      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| Carnival Corporation                                                                | CCL 5.75 08/01/32 144A                                                                                                                                 | CUSIP: 143658CA8<br>LEI: F1OF2ZSX47CR0BCWA982 | Long             | DBT              | CORP              | PA        |   2500000 | PA      | $2502312.00   | 0.18%             | 2032-08-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| TORONTO-DOMINION BANK                                                               | Toronto-Dominion Bank/The                                                                                                                              | CUSIP: 89112B244<br>LEI: PT3QB789TSUIDF371261 | Long             | DBT              | CORP              | CA        |     55000 | PA      | $4941788.41   | 0.36%             | 2027-01-27      | Fixed         | 9.00%                 | No            |                  2 | On Loan: No      |
| Wells Fargo & Co.                                                                   | WFC V5.389 04/24/34                                                                                                                                    | CUSIP: 95000U3D3<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | DBT              | CORP              | US        |   1101000 | PA      | $1117850.35   | 0.08%             | 2034-04-24      | Fixed         | 5.39%                 | No            |                  2 | On Loan: No      |
| Centene Corp.                                                                       | CNC 2.5 03/01/31                                                                                                                                       | CUSIP: 15135BAX9<br>LEI: 549300Z7JJ4TQSQGT333 | Long             | DBT              | CORP              | US        |   2030000 | PA      | $1704678.74   | 0.13%             | 2031-03-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| Mauser Packaging Solutions Holding Co.                                              | BWY 7.875 04/15/30 144A                                                                                                                                | CUSIP: 57763RAE7<br>LEI: 549300DNGHXL0OMHW304 | Long             | DBT              | CORP              | US        |   6500000 | PA      | $6504647.50   | 0.48%             | 2030-04-15      | Fixed         | 7.88%                 | No            |                  2 | On Loan: No      |
| JPMORGAN CHASE LONDON                                                               | JPMorgan Chase Bank NA/London                                                                                                                          | CUSIP: 48131K130<br>LEI: 7H6GLXDRUGQFU57RNE97 | Long             | DBT              | CORP              | US        |      6000 | PA      | $5748939.54   | 0.42%             | 2027-04-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Davita Inc                                                                          | DVA 4.625 06/01/30 144A                                                                                                                                | CUSIP: 23918KAS7<br>LEI: M2XHYMU3TZNEZURC6H66 | Long             | DBT              | CORP              | US        |   2520000 | PA      | $2424492.50   | 0.18%             | 2030-06-01      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| PNC Financial Services Group Inc.                                                   | PNC V5.068 01/24/34                                                                                                                                    | CUSIP: 693475BM6<br>LEI: CFGNEKW0P8842LEUIA51 | Long             | DBT              | CORP              | US        |    510000 | PA      | $510158.68    | 0.04%             | 2034-01-24      | Fixed         | 5.07%                 | No            |                  2 | On Loan: No      |
| Asurion LLC / Asurion Co-Issuer Inc.                                                | ASUCOR 8 12/31/32 144A                                                                                                                                 | CUSIP: 045941AA9<br>LEI: 549300KNQVXGIOXWK278 | Long             | DBT              | CORP              | US        |   4000000 | PA      | $4153151.96   | 0.31%             | 2032-12-31      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| Beach Acquisition Bidco LLC                                                         | SKX 10 07/15/33 144a                                                                                                                                   | CUSIP: 07337JAC1<br>LEI: 254900F2FNX3GBTB6202 | Long             | DBT              | CORP              | US        |   3689170 | PA      | $3931704.71   | 0.29%             | 2033-07-15      | Fixed         | 10.00%                | No            |                  2 | On Loan: No      |
| Morgan Stanley                                                                      | MS V6.342 10/18/33                                                                                                                                     | CUSIP: 61747YEY7<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |   1148000 | PA      | $1228827.71   | 0.09%             | 2033-10-18      | Fixed         | 6.34%                 | No            |                  2 | On Loan: No      |
| Venture Global LNG Inc.                                                             | VENLNG 8.125 06/01/28 144A                                                                                                                             | CUSIP: 92332YAA9<br>LEI: 54930011XLBUWMQUC829 | Long             | DBT              | CORP              | US        |   5000000 | PA      | $5116080.00   | 0.38%             | 2028-06-01      | Fixed         | 8.12%                 | No            |                  2 | On Loan: No      |
| Citigroup Global Markets Holdings Inc.                                              | C 8.5 08/21/26 0000                                                                                                                                    | CUSIP: 000000000<br>LEI: 82VOJDD5PTRDMVVMGV31 | Long             | DBT              | CORP              | US        |     30000 | PA      | $7135929.15   | 0.53%             | 2026-08-21      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| Ashtead Capital Inc.                                                                | AHTLN 5.55 05/30/33 144A                                                                                                                               | CUSIP: 045054AQ6<br>LEI: 213800J1134IW58IC398 | Long             | DBT              | CORP              | US        |   2000000 | PA      | $2020496.84   | 0.15%             | 2033-05-30      | Fixed         | 5.55%                 | No            |                  2 | On Loan: No      |
| Sempra                                                                              | Sempra COM                                                                                                                                             | CUSIP: 816851109<br>LEI: PBBKGKLRK5S5C0Y4T545 | Long             | EC               | CORP              | US        |     40713 | NS      | $3956082.21   | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| Williams Companies Inc. (The)                                                       | WMB 3.5 11/15/30                                                                                                                                       | CUSIP: 969457BX7<br>LEI: D71FAKCBLFS2O0RBPG08 | Long             | DBT              | CORP              | US        |   1600000 | PA      | $1521169.10   | 0.11%             | 2030-11-15      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| CVS Health Corp                                                                     | CVS V7 03/10/55                                                                                                                                        | CUSIP: 126650EH9<br>LEI: 549300EJG376EN5NQE29 | Long             | DBT              | CORP              | US        |   2500000 | PA      | $2578170.00   | 0.19%             | 2055-03-10      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| Herc Holdings Inc                                                                   | HRI 7 06/15/30 144A                                                                                                                                    | CUSIP: 42704LAF1<br>LEI: 549300TP80QLITMSBP82 | Long             | DBT              | CORP              | US        |   3000000 | PA      | $3078252.00   | 0.23%             | 2030-06-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| Genmab AS And Genmab Finance LLC                                                    | GMABDC 7.25 12/15/33 144A                                                                                                                              | CUSIP: 37230JAB8<br>LEI: 529900MTJPDPE4MHJ122 | Long             | DBT              | CORP              | DK        |    500000 | PA      | $523823.00    | 0.04%             | 2033-12-15      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| United States Treasury Notes                                                        | T 4 02/15/34                                                                                                                                           | CUSIP: 91282CJZ5<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   4000000 | PA      | $3946250.00   | 0.29%             | 2034-02-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Dexko Global Inc                                                                    | Dornoch Debt Merger Sub Inc                                                                                                                            | CUSIP: 25830JAA9<br>LEI: 549300SMZ4OV1KBH1M19 | Long             | DBT              | CORP              | US        |   2500000 | PA      | $2234319.75   | 0.16%             | 2029-10-15      | Fixed         | 6.62%                 | No            |                  2 | On Loan: No      |
| AerCap Ireland Capital Designated Activity Co. / AerCap Global Aviation Trust (AER) | AER 4.95 09/10/34                                                                                                                                      | CUSIP: 00774MBM6<br>LEI: 549300TI38531ODB1G63 | Long             | DBT              | CORP              | IE        |    750000 | PA      | $729259.07    | 0.05%             | 2034-09-10      | Fixed         | 4.95%                 | No            |                  2 | On Loan: No      |
| ENDO FINANCE HOLDINGS INC                                                           | ENDP 8.5 04/15/31 144A                                                                                                                                 | CUSIP: 29281RAA7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    500000 | PA      | $523924.50    | 0.04%             | 2031-04-15      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| Capital One Financial Corp.                                                         | COF V7.624 10/30/31 .                                                                                                                                  | CUSIP: 14040HDC6<br>LEI: ZUE8T73ROZOF6FLBAR73 | Long             | DBT              | CORP              | US        |   2500000 | PA      | $2762015.35   | 0.20%             | 2031-10-30      | Fixed         | 7.62%                 | No            |                  2 | On Loan: No      |
| Wells Fargo Bank, National Association                                              | Wells Fargo Bank, National Association MANDATORILY EXCHANGEABLE SECURITIES LINKED TO THE SHARES OF COMMON STOCK, OR THE CASH VALUE OF SUCH SHARES, OF  | CUSIP: 95004P134<br>LEI: KB1H1DSPRFMYMCUFXT09 | Long             | EP               | CORP              | US        |     23000 | NS      | $7582368.30   | 0.56%             |  |  |  | No            |                  2 | On Loan: No      |
| General Motors Company                                                              | GM 5.6 10/15/32                                                                                                                                        | CUSIP: 37045VAZ3<br>LEI: 54930070NSV60J38I987 | Long             | DBT              | CORP              | US        |   2700000 | PA      | $2765488.45   | 0.20%             | 2032-10-15      | Fixed         | 5.60%                 | No            |                  2 | On Loan: No      |
| Capital One Financial Corp.                                                         | COF V5.817 02/01/34                                                                                                                                    | CUSIP: 14040HCY9<br>LEI: ZUE8T73ROZOF6FLBAR73 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $1023782.28   | 0.08%             | 2034-02-01      | Fixed         | 5.82%                 | No            |                  2 | On Loan: No      |
| CCO HOLDINGS LLC                                                                    | CHTR 5 02/01/28 144A                                                                                                                                   | CUSIP: 1248EPBX0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1350000 | PA      | $1339733.79   | 0.10%             | 2028-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Boeing Co.                                                                          | Boeing Co. 6% SER A DEP SHS REPSTG 1/20TH INT MANDATORY CONV PFD                                                                                       | CUSIP: 097023204<br>LEI: RVHJWBXLJ1RFUBSY1F30 | Long             | EP               | CORP              | US        |    114371 | NS      | $7420390.48   | 0.55%             |  |  |  | No            |                  1 | On Loan: No      |
| Goldman Sachs Group, Inc.                                                           | GS V5.387 02/02/41                                                                                                                                     | CUSIP: 38145GAU4<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | DBT              | CORP              | US        |   7500000 | PA      | $7248877.05   | 0.53%             | 2041-02-02      | Fixed         | 5.39%                 | No            |                  2 | On Loan: No      |
| MILLROSE PROPERTIES INC                                                             | MRP 6.375 08/01/30 144A                                                                                                                                | CUSIP: 601137AA0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1500000 | PA      | $1500545.85   | 0.11%             | 2030-08-01      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| Citigroup Inc.                                                                      | C V6.174 05/25/34                                                                                                                                      | CUSIP: 17327CAR4<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |   1500000 | PA      | $1553437.31   | 0.11%             | 2034-05-25      | Fixed         | 6.17%                 | No            |                  2 | On Loan: No      |
| Oracle Corp.                                                                        | ORCL 2.875 03/25/31                                                                                                                                    | CUSIP: 68389XCE3<br>LEI: 1Z4GXXU7ZHVWFCD8TV52 | Long             | DBT              | CORP              | US        |    650000 | PA      | $577459.92    | 0.04%             | 2031-03-25      | Fixed         | 2.88%                 | No            |                  2 | On Loan: No      |
| Tenet Healthcare Corporation                                                        | THC 6 11/15/33 144A                                                                                                                                    | CUSIP: 88033GDV9<br>LEI: 0W9AIBT6U6ADJ2I8HK17 | Long             | DBT              | CORP              | US        |   2500000 | PA      | $2531590.00   | 0.19%             | 2033-11-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Vistra Corp                                                                         | VST V8 PERP 144A                                                                                                                                       | CUSIP: 92840MAB8<br>LEI: 549300KP43CPCUJOOG15 | Long             | DBT              | CORP              | US        |   2000000 | PA      | $2022430.00   | 0.15%             | N/A             | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| Medline Borrower LLP / Medline Co-Issuer Inc.                                       | MEDIND 6.25 04/01/29 144A                                                                                                                              | CUSIP: 58506DAA6<br>LEI: 254900QT3R363TVK6F09 | Long             | DBT              | CORP              | US        |    450000 | PA      | $459104.80    | 0.03%             | 2029-04-01      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| HCA Inc.                                                                            | HCA 5.625 09/01/28                                                                                                                                     | CUSIP: 404121AJ4<br>LEI: L3CJ6J7LJ2DX62FTXD46 | Long             | DBT              | CORP              | US        |   2935000 | PA      | $2994360.38   | 0.22%             | 2028-09-01      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| B.A.T. Capital Corporation                                                          | BATSLN 7.75 10/19/32                                                                                                                                   | CUSIP: 05526DBX2<br>LEI: 2138005GYEXN7XRHFA84 | Long             | DBT              | CORP              | US        |    850000 | PA      | $976485.84    | 0.07%             | 2032-10-19      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| Pilgrims Pride Corporation                                                          | PPC 6.25 07/01/33                                                                                                                                      | CUSIP: 72147KAK4<br>LEI: 549300ZSLGV64ZL3HD75 | Long             | DBT              | CORP              | US        |   3000000 | PA      | $3145290.00   | 0.23%             | 2033-07-01      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| Crown Castle Inc.                                                                   | CCI 5.1 05/01/33                                                                                                                                       | CUSIP: 22822VBC4<br>LEI: 54930012H97VSM0I2R19 | Long             | DBT              | CORP              | US        |    300000 | PA      | $295916.99    | 0.02%             | 2033-05-01      | Fixed         | 5.10%                 | No            |                  2 | On Loan: No      |
| CCO HOLDINGS LLC                                                                    | CHTR 7.375 03/01/31 144A                                                                                                                               | CUSIP: 1248EPCT8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2800000 | PA      | $2851992.56   | 0.21%             | 2031-03-01      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| COMMUNITY HEALTH SYSTEMS INC                                                        | CYH 10.875 01/15/32 144A                                                                                                                               | CUSIP: 12543DBN9<br>LEI: 549300BQWM4WENQ3YW73 | Long             | DBT              | CORP              | US        |   8000000 | PA      | $8592888.00   | 0.63%             | 2032-01-15      | Fixed         | 10.88%                | No            |                  2 | On Loan: No      |
| TransDigm, Inc.                                                                     | TDG 6.75 08/15/28 144A                                                                                                                                 | CUSIP: 893647BR7<br>LEI: 88Q84GB3X55CF5OC7582 | Long             | DBT              | CORP              | US        |    600000 | PA      | $608034.00    | 0.04%             | 2028-08-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| Mizuho Markets Cayman LP                                                            | Mizuho Markets Cayman LP NOTES ISSUED LINKED TO THE COMMON STOCK OF SCHLUMBERGER N.V DUE ON JULY 27, 2026                                              | CUSIP: 000000000<br>LEI: 549300KHUXLS6Q30KT26 | Long             | EP               | CORP              | KY        |    110000 | NS      | $4515243.81   | 0.33%             |  |  |  | No            |                  2 | On Loan: No      |
| JPMorgan Chase Bank, National Association                                           | JPMorgan Chase Bank, National Association MANDATORY EXCHANGEABLE NOTES LINKED TO SHARES OF MARVELL TECHNOLOGY,INC. DUE ON JANUARY 7, 2027              | CUSIP: 466303567<br>LEI: 7H6GLXDRUGQFU57RNE97 | Long             | EP               | CORP              | US        |    110000 | NS      | $10072423.55  | 0.74%             |  |  |  | No            |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corp.                                                    | FR SD8323                                                                                                                                              | CUSIP: 3132DWG80<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    883810 | PA      | $876330.47    | 0.06%             | 2053-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| TransDigm, Inc.                                                                     | TDG 6 01/15/33 144A                                                                                                                                    | CUSIP: 893647BW6<br>LEI: 88Q84GB3X55CF5OC7582 | Long             | DBT              | CORP              | US        |   2500000 | PA      | $2501384.00   | 0.18%             | 2033-01-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                            | G2 MB0873                                                                                                                                              | CUSIP: 3618N56K0<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   1991341 | PA      | $2031486.80   | 0.15%             | 2056-01-20      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| TransDigm, Inc.                                                                     | TDG 6.75 01/31/34 144a                                                                                                                                 | CUSIP: 893647CA3<br>LEI: 88Q84GB3X55CF5OC7582 | Long             | DBT              | CORP              | US        |   3000000 | PA      | $3041565.00   | 0.22%             | 2034-01-31      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| NextEra Energy Capital Holdings Inc                                                 | NEE 5.25 03/15/34                                                                                                                                      | CUSIP: 65339KCU2<br>LEI: UMI46YPGBLUE4VGNNT48 | Long             | DBT              | CORP              | US        |    500000 | PA      | $506390.66    | 0.04%             | 2034-03-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Medline Borrower LP                                                                 | MEDIND 3.875 04/01/29 144A                                                                                                                             | CUSIP: 62482BAA0<br>LEI: 254900QT3R363TVK6F09 | Long             | DBT              | CORP              | US        |   1135000 | PA      | $1098591.24   | 0.08%             | 2029-04-01      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| MPH ACQUISITION 12/31/30                                                            | MPH ACQUISITION 12/31/30                                                                                                                               | CUSIP: 55328HAP6<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    164041 | PA      | $164000.00    | 0.01%             | 2030-12-31      | Floating      | 7.42%                 | No            |                  2 | On Loan: No      |
| Venture Global Plaquemines Lng LLC                                                  | VEGLPL 6.125 12/15/30 144A                                                                                                                             | CUSIP: 922966AE6<br>LEI: 549300TKP4I6OJ02BF90 | Long             | DBT              | CORP              | US        |   3000000 | PA      | $3086928.00   | 0.23%             | 2030-12-15      | Fixed         | 6.12%                 | No            |                  2 | On Loan: No      |
| LyondellBasell Industries NV                                                        | LyondellBasell Industries NV SHS - A -                                                                                                                 | CUSIP: 000000000<br>LEI: BN6WCCZ8OVP3ITUUVN49 | Long             | EC               | CORP              | NL        |    142807 | NS      | $11504531.92  | 0.85%             |  |  |  | No            |                  1 | On Loan: No      |
| Toronto Dominion Bank New York Branch                                               | Toronto Dominion Bank New York Branch NOTES ISSUED DUE ON NOVEMBER,25,2026                                                                             | CUSIP: 89112B194<br>LEI: PT3QB789TSUIDF371261 | Long             | EP               | CORP              | CA        |     24000 | NS      | $3291112.94   | 0.24%             |  |  |  | No            |                  2 | On Loan: No      |
| CHS/Community Health Systems Inc                                                    | CYH 6.125 04/01/30 144A                                                                                                                                | CUSIP: 12543DBL3<br>LEI: 5493007X5NC5XI1BB106 | Long             | DBT              | CORP              | US        |   9500000 | PA      | $8270458.70   | 0.61%             | 2030-04-01      | Fixed         | 6.12%                 | No            |                  2 | On Loan: No      |
| Wells Fargo Bank, National Association                                              | Wells Fargo Bank, National Association MANDATORILY EXCHANGEABLE SECURITIES DUE MARCH 8, 2027                                                           | CUSIP: 95005A672<br>LEI: KB1H1DSPRFMYMCUFXT09 | Long             | EP               | CORP              | US        |     28000 | NS      | $10676110.39  | 0.79%             |  |  |  | No            |                  2 | On Loan: No      |
| Hologi 01/14/33                                                                     | Hologi 01/14/33                                                                                                                                        | CUSIP: 000000000<br>LEI: 9845009E9B4548A5N478 | Long             | LON              | CORP              | US        |   1500000 | PA      | $1483972.50   | 0.11%             | 2033-01-14      | Floating      | 0.01%                 | No            |                  2 | On Loan: No      |
| ConocoPhillips                                                                      | ConocoPhillips COM                                                                                                                                     | CUSIP: 20825C104<br>LEI: WPTL2Z3FIYTHSP5V2253 | Long             | EC               | CORP              | US        |     41308 | NS      | $5452656.00   | 0.40%             |  |  |  | No            |                  1 | On Loan: No      |
| Venture Global Plaquemines Lng LLC                                                  | VEGLPL 6.5 06/15/34 144A                                                                                                                               | CUSIP: 922966AF3<br>LEI: 549300TKP4I6OJ02BF90 | Long             | DBT              | CORP              | US        |   4000000 | PA      | $4166328.00   | 0.31%             | 2034-06-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Caesars Entertainment Inc.                                                          | CZR 4.625 10/15/29 144A                                                                                                                                | CUSIP: 12769GAA8<br>LEI: 549300FA4CTCW903Y781 | Long             | DBT              | CORP              | US        |   5855000 | PA      | $5634442.15   | 0.42%             | 2029-10-15      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| Southern Co.                                                                        | SO 5.7 10/15/32                                                                                                                                        | CUSIP: 842587DL8<br>LEI: 549300FC3G3YU2FBZD92 | Long             | DBT              | CORP              | US        |    480000 | PA      | $502582.23    | 0.04%             | 2032-10-15      | Fixed         | 5.70%                 | No            |                  2 | On Loan: No      |
| Home Depot Inc.                                                                     | Home Depot Inc. COM                                                                                                                                    | CUSIP: 437076102<br>LEI: QEKMOTMBBKA8I816DO57 | Long             | EC               | CORP              | US        |       110 | NS      | $36177.90     | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Federal Home Loan Mortgage Corp.                                                    | FR SD8474                                                                                                                                              | CUSIP: 3132DWMX8<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   4158665 | PA      | $4107038.51   | 0.30%             | 2054-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| JPMorgan Chase & Co.                                                                | JPM V6.5 PERP OO                                                                                                                                       | CUSIP: 48128AAJ2<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | DBT              | CORP              | US        |   2000000 | PA      | $2053430.00   | 0.15%             | N/A             | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| HEALTHPEAK OP LLC                                                                   | DOC 5.25 12/15/32                                                                                                                                      | CUSIP: 42250PAE3<br>LEI: PZ9HF5U52KPF0MH0QN75 | Long             | DBT              | CORP              | US        |    500000 | PA      | $503571.58    | 0.04%             | 2032-12-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| NRG Energy, Inc.                                                                    | NRG 3.625 02/15/31 144A                                                                                                                                | CUSIP: 629377CR1<br>LEI: 5E2UPK5SW04M13XY7I38 | Long             | DBT              | CORP              | US        |   1320000 | PA      | $1216216.85   | 0.09%             | 2031-02-15      | Fixed         | 3.62%                 | No            |                  2 | On Loan: No      |
| T-Mobile USA, Inc.                                                                  | TMUS 5.05 07/15/33                                                                                                                                     | CUSIP: 87264ACY9<br>LEI: 549300V2JRLO5DIFGE82 | Long             | DBT              | CORP              | US        |    900000 | PA      | $906536.41    | 0.07%             | 2033-07-15      | Fixed         | 5.05%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                            | G2 MB0872                                                                                                                                              | CUSIP: 3618N56J3<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   3484255 | PA      | $3514193.50   | 0.26%             | 2056-01-20      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| AerCap Ireland Capital Designated Activity Co. / AerCap Global Aviation Trust (AER) | AER 5.75 06/06/28                                                                                                                                      | CUSIP: 00774MBC8<br>LEI: 549300TI38531ODB1G63 | Long             | DBT              | CORP              | IE        |    500000 | PA      | $512382.30    | 0.04%             | 2028-06-06      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Post Holdings Inc.                                                                  | POST 6.25 02/15/32 144A                                                                                                                                | CUSIP: 737446AU8<br>LEI: JM1I5YUAURL6DC8N1468 | Long             | DBT              | CORP              | US        |    700000 | PA      | $708112.30    | 0.05%             | 2032-02-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| Tenet Healthcare Corporation                                                        | THC 6.125 06/15/30                                                                                                                                     | CUSIP: 88033GDQ0<br>LEI: 0W9AIBT6U6ADJ2I8HK17 | Long             | DBT              | CORP              | US        |   3500000 | PA      | $3527132.00   | 0.26%             | 2030-06-15      | Fixed         | 6.12%                 | No            |                  2 | On Loan: No      |
| American Tower Corporation                                                          | AMT 5.55 07/15/33                                                                                                                                      | CUSIP: 03027XCD0<br>LEI: 5493006ORUSIL88JOE18 | Long             | DBT              | CORP              | US        |   1250000 | PA      | $1285128.83   | 0.09%             | 2033-07-15      | Fixed         | 5.55%                 | No            |                  2 | On Loan: No      |
| Ardagh Group S A                                                                    | ARGID 9.5 12/01/30 144A                                                                                                                                | CUSIP: 039959AA9<br>LEI: 6354006L1NWUUOPYX274 | Long             | DBT              | CORP              | LU        |   4702000 | PA      | $4933874.43   | 0.36%             | 2030-12-01      | Fixed         | 9.50%                 | No            |                  2 | On Loan: No      |
| Mizuho Markets Cayman LP                                                            | Mizuho Markets Cayman LP NOTES ISSUED LINKED TO THE COMMON STOCK OF THE HOME DEPOT, INC DUE ON JULY 27, 2026                                           | CUSIP: 000000000<br>LEI: 549300KHUXLS6Q30KT26 | Long             | EP               | CORP              | KY        |     14500 | NS      | $4829661.83   | 0.36%             |  |  |  | No            |                  2 | On Loan: No      |
| Southern Co.                                                                        | SO V6 04/01/58                                                                                                                                         | CUSIP: 842587EJ2<br>LEI: 549300FC3G3YU2FBZD92 | Long             | DBT              | CORP              | US        |   3500000 | PA      | $3518749.22   | 0.26%             | 2058-04-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Barclays PLC                                                                        | BACR V7.437 11/02/33                                                                                                                                   | CUSIP: 06738ECE3<br>LEI: 213800LBQA1Y9L22JB70 | Long             | DBT              | CORP              | GB        |   1465000 | PA      | $1638763.05   | 0.12%             | 2033-11-02      | Fixed         | 7.44%                 | No            |                  2 | On Loan: No      |
| Fifth Third Bancorp                                                                 | Fifth Third Bancorp COM                                                                                                                                | CUSIP: 316773100<br>LEI: THRNG6BD57P9QWTQLG42 | Long             | EC               | CORP              | US        |     85228 | NS      | $3959692.88   | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| Rain Carbon Inc                                                                     | RCOLIN 12.25 09/01/29 144A                                                                                                                             | CUSIP: 75079LAB7<br>LEI: 25490038N6JQH7QXUK52 | Long             | DBT              | CORP              | US        |    500000 | PA      | $515049.50    | 0.04%             | 2029-09-01      | Fixed         | 12.25%                | No            |                  2 | On Loan: No      |
| Goldman Sachs Group, Inc.                                                           | GS V6.85 PERP                                                                                                                                          | CUSIP: 38141GC28<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $1019938.00   | 0.08%             | N/A             | Fixed         | 6.85%                 | No            |                  2 | On Loan: No      |
| Mizuho Markets Cayman LP                                                            | Mizuho Markets Cayman LP NOTES LINKED TO THE COMMON STOCK OF MICROCHIP TECHNOLOGY INCORPORATED DUE APRIL 15, 2026                                      | CUSIP: 60701E287<br>LEI: 549300KHUXLS6Q30KT26 | Long             | EP               | CORP              | KY        |     50000 | NS      | $3225748.72   | 0.24%             |  |  |  | No            |                  2 | On Loan: No      |
| Vistra Operations Co LLC                                                            | VST 7.75 10/15/31 144A                                                                                                                                 | CUSIP: 92840VAP7<br>LEI: 549300ZH5GKBTJZ7NM23 | Long             | DBT              | CORP              | US        |   1500000 | PA      | $1571942.46   | 0.12%             | 2031-10-15      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| Capital One Financial Corp.                                                         | COF 3.75 07/28/26                                                                                                                                      | CUSIP: 14040HBK0<br>LEI: ZUE8T73ROZOF6FLBAR73 | Long             | DBT              | CORP              | US        |    600000 | PA      | $598664.71    | 0.04%             | 2026-07-28      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corp.                                                    | FR SD8475                                                                                                                                              | CUSIP: 3132DWMY6<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   1636574 | PA      | $1645891.74   | 0.12%             | 2054-11-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Capital One Financial Corp.                                                         | COF V4.927 05/10/28                                                                                                                                    | CUSIP: 14040HCS2<br>LEI: ZUE8T73ROZOF6FLBAR73 | Long             | DBT              | CORP              | US        |    765000 | PA      | $767207.71    | 0.06%             | 2028-05-10      | Fixed         | 4.93%                 | No            |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corp.                                                    | FR RQ0103                                                                                                                                              | CUSIP: 3142J6DH3<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   7474462 | PA      | $7515080.67   | 0.55%             | 2056-03-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Citigroup Inc.                                                                      | C V6.875 PERP GG                                                                                                                                       | CUSIP: 17327CBC6<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |   2750000 | PA      | $2771197.00   | 0.20%             | N/A             | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                            | G2 MB0997                                                                                                                                              | CUSIP: 3618N6DB0<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   7500000 | PA      | $7568950.05   | 0.56%             | 2056-03-20      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Dominion Energy Inc                                                                 | D 3.375 04/01/30 C                                                                                                                                     | CUSIP: 25746UDG1<br>LEI: ILUL7B6Z54MRYCF6H308 | Long             | DBT              | CORP              | US        |    300000 | PA      | $286535.01    | 0.02%             | 2030-04-01      | Fixed         | 3.38%                 | No            |                  2 | On Loan: No      |
| Genmab AS And Genmab Finance LLC                                                    | GMABDC 6.25 12/15/32 144A                                                                                                                              | CUSIP: 37230JAA0<br>LEI: 529900MTJPDPE4MHJ122 | Long             | DBT              | CORP              | DK        |   1500000 | PA      | $1538935.50   | 0.11%             | 2032-12-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| Lowes Companies, Inc.                                                               | Lowes Companies, Inc. COM                                                                                                                              | CUSIP: 548661107<br>LEI: WAFCR4OKGSC504WU3E95 | Long             | EC               | CORP              | US        |     30891 | NS      | $7298925.48   | 0.54%             |  |  |  | No            |                  1 | On Loan: No      |
| HP Inc                                                                              | HPQ 5.5 01/15/33                                                                                                                                       | CUSIP: 40434LAN5<br>LEI: WHKXQACZ14C5XRO8LW03 | Long             | DBT              | CORP              | US        |    750000 | PA      | $759615.90    | 0.06%             | 2033-01-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                            | G2 MB0485                                                                                                                                              | CUSIP: 3618N5RF8<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    335658 | PA      | $338287.34    | 0.02%             | 2055-07-20      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Mizuho Markets Cayman LP                                                            | Mizuho Markets Cayman LP NOTES ISSUED LINKED TO COMMON STOCK OF MICROSOFT CORPORATION DUE JANUARY 7, 2027                                              | CUSIP: 60701E493<br>LEI: 549300KHUXLS6Q30KT26 | Long             | EP               | CORP              | KY        |     10900 | NS      | $4261000.05   | 0.31%             |  |  |  | No            |                  2 | On Loan: No      |
| United States Treasury Bonds                                                        | T 5 05/15/45                                                                                                                                           | CUSIP: 912810UL0<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   7000000 | PA      | $7092968.75   | 0.52%             | 2045-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Texas Instruments Inc.                                                              | Texas Instruments Inc. COM                                                                                                                             | CUSIP: 882508104<br>LEI: WDJNR2L6D8RWOEB8T652 | Long             | EC               | CORP              | US        |     21770 | NS      | $4226427.80   | 0.31%             |  |  |  | No            |                  1 | On Loan: No      |
| Clydesdale Acquisition Holdings Inc.                                                | NOVHOL 6.75 04/15/32 144A                                                                                                                              | CUSIP: 18972EAD7<br>LEI: 254900QKSDYFR3K5YD98 | Long             | DBT              | CORP              | US        |   3000000 | PA      | $2842000.83   | 0.21%             | 2032-04-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| NextEra Energy Inc                                                                  | NEE 7.299 06/01/27                                                                                                                                     | CUSIP: 65339F663<br>LEI: 254900RHL9MEUS5NKX63 | Long             | DBT              | CORP              | US        |    118724 | PA      | $6646169.52   | 0.49%             | 2027-06-01      | Fixed         | 7.30%                 | No            |                  1 | On Loan: No      |
| RIVIAN HOLDINGS LLC                                                                 | RIVHOL 10 01/15/31 144A                                                                                                                                | CUSIP: 76954LAD1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1600000 | PA      | $1555960.48   | 0.11%             | 2031-01-15      | Fixed         | 10.00%                | No            |                  2 | On Loan: No      |
| Union Pacific Corporation                                                           | Union Pacific Corporation COM                                                                                                                          | CUSIP: 907818108<br>LEI: 549300LMMRSZZCZ8CL11 | Long             | EC               | CORP              | US        |     15000 | NS      | $3639300.00   | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| PPL Corporation                                                                     | PPL 7 02/15/29                                                                                                                                         | CUSIP: 69351T866<br>LEI: 9N3UAJSNOUXFKQLF3V18 | Long             | DBT              | CORP              | US        |     42664 | PA      | $2188236.56   | 0.16%             | 2029-02-15      | Fixed         | 7.00%                 | No            |                  1 | On Loan: No      |
| Exxon Mobil Corp.                                                                   | Exxon Mobil Corp. COM                                                                                                                                  | CUSIP: 30231G102<br>LEI: J3WHBG0MTS7O8ZVMDC91 | Long             | EC               | CORP              | US        |    126625 | NS      | $21483197.50  | 1.58%             |  |  |  | No            |                  1 | On Loan: No      |
| Pfizer Inc.                                                                         | Pfizer Inc. COM                                                                                                                                        | CUSIP: 717081103<br>LEI: 765LHXWGK1KXCLTFYQ30 | Long             | EC               | CORP              | US        |    267882 | NS      | $7522126.56   | 0.55%             |  |  |  | No            |                  1 | On Loan: No      |
| Barclays PLC                                                                        | BACR V7.625 PERP                                                                                                                                       | CUSIP: 06738EDC6<br>LEI: 213800LBQA1Y9L22JB70 | Long             | DBT              | CORP              | GB        |   1000000 | PA      | $1010155.51   | 0.07%             | N/A             | Fixed         | 7.62%                 | No            |                  2 | On Loan: No      |
| NRG Energy, Inc.                                                                    | NRG 6 01/15/36 144A                                                                                                                                    | CUSIP: 629377DD1<br>LEI: 5E2UPK5SW04M13XY7I38 | Long             | DBT              | CORP              | US        |   3500000 | PA      | $3470257.35   | 0.26%             | 2036-01-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Organon & Co                                                                        | OGN 4.125 04/30/28 144a                                                                                                                                | CUSIP: 68622TAA9<br>LEI: 549300AMCKY57OK2CO56 | Long             | DBT              | CORP              | US        |   2000000 | PA      | $1941866.92   | 0.14%             | 2028-04-30      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| United States Treasury Notes                                                        | T 4.25 01/31/30                                                                                                                                        | CUSIP: 91282CMG3<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   7000000 | PA      | $7089140.66   | 0.52%             | 2030-01-31      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| 1261229 B.C. LTD                                                                    | BHCCN 10 04/15/32 144A                                                                                                                                 | CUSIP: 68288AAA5<br>LEI: N/A                  | Long             | DBT              | CORP              | CA        |   2000000 | PA      | $2049378.00   | 0.15%             | 2032-04-15      | Fixed         | 10.00%                | No            |                  2 | On Loan: No      |
| The Charles Schwab Corporation                                                      | SCHW V6.196 11/17/29                                                                                                                                   | CUSIP: 808513CJ2<br>LEI: 549300VSGCJ7E698NM85 | Long             | DBT              | CORP              | US        |    500000 | PA      | $522716.49    | 0.04%             | 2029-11-17      | Fixed         | 6.20%                 | No            |                  2 | On Loan: No      |
| Alcoa Nederland Holding B.V.                                                        | AA 4.125 03/31/29 144A                                                                                                                                 | CUSIP: 013822AG6<br>LEI: 5493000UL1QLQLT1VQ42 | Long             | DBT              | CORP              | NL        |    825000 | PA      | $802662.77    | 0.06%             | 2029-03-31      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| Southern Co.                                                                        | SO 7.125 12/15/28 A                                                                                                                                    | CUSIP: 842587842<br>LEI: 549300FC3G3YU2FBZD92 | Long             | DBT              | CORP              | US        |    109440 | PA      | $5625216.00   | 0.41%             | 2028-12-15      | Fixed         | 7.12%                 | No            |                  1 | On Loan: No      |
| Davita Inc                                                                          | DVA 6.875 09/01/32 144A                                                                                                                                | CUSIP: 23918KAW8<br>LEI: M2XHYMU3TZNEZURC6H66 | Long             | DBT              | CORP              | US        |    500000 | PA      | $512650.89    | 0.04%             | 2032-09-01      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| Organon & Co                                                                        | OGN 5.125 04/30/31 144A                                                                                                                                | CUSIP: 68622TAB7<br>LEI: 549300AMCKY57OK2CO56 | Long             | DBT              | CORP              | US        |   3000000 | PA      | $2447954.70   | 0.18%             | 2031-04-30      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| CCO HOLDINGS LLC                                                                    | CHTR 6.375 09/01/29 144A                                                                                                                               | CUSIP: 1248EPCS0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2700000 | PA      | $2710014.30   | 0.20%             | 2029-09-01      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| Truist Financial Corp.                                                              | Truist Financial Corp. COM                                                                                                                             | CUSIP: 89832Q109<br>LEI: 549300DRQQI75D2JP341 | Long             | EC               | CORP              | US        |    180503 | NS      | $8297722.91   | 0.61%             |  |  |  | No            |                  1 | On Loan: No      |
| United States Treasury Notes                                                        | T 4.25 05/15/35                                                                                                                                        | CUSIP: 91282CNC1<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  10000000 | PA      | $9975195.30   | 0.73%             | 2035-05-15      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| General Motors Financial Company Inc                                                | GM 5.8 01/07/29                                                                                                                                        | CUSIP: 37045XEN2<br>LEI: 5493008B6JBRUJ90QL97 | Long             | DBT              | CORP              | US        |    850000 | PA      | $874935.33    | 0.06%             | 2029-01-07      | Fixed         | 5.80%                 | No            |                  2 | On Loan: No      |
| MERRILL LYNCH BV                                                                    | Merrill Lynch BV                                                                                                                                       | CUSIP: 59028A267<br>LEI: 549300RQ1D1WIE085245 | Long             | DBT              | CORP              | NL        |     50000 | PA      | $4700794.01   | 0.35%             | 2027-03-03      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Five Corners Funding Trust III                                                      | PRU 5.791 02/15/33                                                                                                                                     | CUSIP: 33830GAA9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    490000 | PA      | $505703.43    | 0.04%             | 2033-02-15      | Fixed         | 5.79%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                            | G2 MB0814                                                                                                                                              | CUSIP: 3618N53Y3<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   3473691 | PA      | $3500906.71   | 0.26%             | 2055-12-20      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corp.                                                    | FR RQ0056                                                                                                                                              | CUSIP: 3142J6B28<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   4482402 | PA      | $4506390.64   | 0.33%             | 2055-10-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| AMERICAN AIRLINES INC                                                               | AAL 5.75 04/20/29 144A                                                                                                                                 | CUSIP: 00253XAB7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1000000 | PA      | $995170.30    | 0.07%             | 2029-04-20      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Bank of America Corp.                                                               | BAC V5.425 08/15/35 MTN                                                                                                                                | CUSIP: 06051GMB2<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |   1500000 | PA      | $1497172.26   | 0.11%             | 2035-08-15      | Fixed         | 5.42%                 | No            |                  2 | On Loan: No      |
| Newell Brands Inc.                                                                  | NWL 8.5 06/01/28 144A                                                                                                                                  | CUSIP: 651229BG0<br>LEI: 549300LWGYFM1TVO1Z12 | Long             | DBT              | CORP              | US        |   2000000 | PA      | $2065500.00   | 0.15%             | 2028-06-01      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| Barclays Bank plc                                                                   | BACR 10 09/08/26                                                                                                                                       | CUSIP: 000000000<br>LEI: G5GSEF7VJP5I7OUK5573 | Long             | DBT              | CORP              | GB        |     25000 | PA      | $3721041.06   | 0.27%             | 2026-09-08      | Fixed         | 10.00%                | No            |                  2 | On Loan: No      |
| J.P. Morgan Structured Products B.V.                                                | JPM 0 10/20/26 E0UH                                                                                                                                    | CUSIP: 000000000<br>LEI: XZYUUT6IYN31D9K77X08 | Long             | DBT              | CORP              | NL        |     11500 | PA      | $3895672.93   | 0.29%             | 2026-10-20      | Fixed         | 3192.00%              | No            |                  2 | On Loan: No      |
| Qnity Electronics Inc.                                                              | QNTELE 6.25 08/15/33 144A                                                                                                                              | CUSIP: 74743LAB6<br>LEI: 254900RSUG4J9TFFZX53 | Long             | DBT              | CORP              | US        |    750000 | PA      | $759290.25    | 0.06%             | 2033-08-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| Hilcorp Energy I L.P/Hilcorp Finance Co                                             | HILCRP 7.25 02/15/35 144A                                                                                                                              | CUSIP: 431318BG8<br>LEI: 549300ITPIHLG0LHEC09 | Long             | DBT              | CORP              | US        |   2500000 | PA      | $2494311.25   | 0.18%             | 2035-02-15      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| CCO HOLDINGS LLC                                                                    | CHTR 5.375 06/01/29 144A                                                                                                                               | CUSIP: 1248EPCB7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1250000 | PA      | $1233590.88   | 0.09%             | 2029-06-01      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| Pepsico Inc                                                                         | Pepsico Inc COM                                                                                                                                        | CUSIP: 713448108<br>LEI: FJSUNZKFNQ5YPJ5OT455 | Long             | EC               | CORP              | US        |    119653 | NS      | $18580914.37  | 1.37%             |  |  |  | No            |                  1 | On Loan: No      |
| Tronox Incorporated                                                                 | TROX 4.625 03/15/29 144A                                                                                                                               | CUSIP: 897051AC2<br>LEI: 549300EPZ4YXC7E5P181 | Long             | DBT              | CORP              | US        |   3000000 | PA      | $2405520.30   | 0.18%             | 2029-03-15      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| Wells Fargo Bank, National Association                                              | Wells Fargo Bank, National Association MANDATORILY EXCHANGEABLE SECURITIES LINKED TO THE COMMON STOCK OF AMAZON.COM DUE ON FEBRUARY 26, 2027           | CUSIP: 95005A755<br>LEI: KB1H1DSPRFMYMCUFXT09 | Long             | EP               | CORP              | US        |     25000 | NS      | $5061234.84   | 0.37%             |  |  |  | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                            | G2 MA9905                                                                                                                                              | CUSIP: 36180AAE3<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   2642734 | PA      | $2622467.01   | 0.19%             | 2054-09-20      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Fiserv Inc.                                                                         | FISV 5.6 03/02/33                                                                                                                                      | CUSIP: 337738BE7<br>LEI: GI7UBEJLXYLGR2C7GV83 | Long             | DBT              | CORP              | US        |    400000 | PA      | $404434.51    | 0.03%             | 2033-03-02      | Fixed         | 5.60%                 | No            |                  2 | On Loan: No      |
| United States Treasury Bonds                                                        | T 4.5 11/15/54                                                                                                                                         | CUSIP: 912810UE6<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   2000000 | PA      | $1868906.24   | 0.14%             | 2054-11-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Weatherford International Ltd Bermuda                                               | WFRD 6.75 10/15/33 144A                                                                                                                                | CUSIP: 947075AW7<br>LEI: 549300A2JKMG5PGOGF82 | Long             | DBT              | CORP              | BM        |   3000000 | PA      | $3067257.00   | 0.23%             | 2033-10-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| International Business Machines Corp.                                               | International Business Machines Corp. COM                                                                                                              | CUSIP: 459200101<br>LEI: VGRQXHF3J8VDLUA7XE92 | Long             | EC               | CORP              | US        |     27306 | NS      | $6618701.34   | 0.49%             |  |  |  | No            |                  1 | On Loan: No      |
| JPMorgan Chase & Co.                                                                | JPMorgan Chase & Co. COM                                                                                                                               | CUSIP: 46625H100<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | EC               | CORP              | US        |       130 | NS      | $38240.80     | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Mizuho Markets Cayman LP                                                            | Mizuho Markets Cayman LP NOTES ISSUED LINKED TO COMMON STOCK OF AMGEN INC DUE ON JUNE 15, 2026                                                         | CUSIP: 60701E352<br>LEI: 549300KHUXLS6Q30KT26 | Long             | EP               | CORP              | KY        |     14000 | NS      | $4308811.27   | 0.32%             |  |  |  | No            |                  2 | On Loan: No      |
| Centene Corp.                                                                       | CNC 4.625 12/15/29                                                                                                                                     | CUSIP: 15135BAT8<br>LEI: 549300Z7JJ4TQSQGT333 | Long             | DBT              | CORP              | US        |   1600000 | PA      | $1519899.84   | 0.11%             | 2029-12-15      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2026-05-21

**Name of Applicant:** Franklin Templeton ETF Trust

**Signature:** Monica Krogh

**Name of Signer:** Monica Krogh

**Title:** Assistant Treasurer Controller, US Fund Administration and Oversight