# EDGAR Filing Document

**Accession Number:** 0001710607
**File Stem:** 0001145549-25-048375
**Filing Date:** 2025-7
**Character Count:** 230955
**Document Hash:** 4509bbda6e803ce7f5b8bfdb55ff7b76
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001145549-25-048375.hdr.sgml**: 20250728

**ACCESSION NUMBER**: 0001145549-25-048375

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250531

**FILED AS OF DATE**: 20250728

**DATE AS OF CHANGE**: 20250728

**PERIOD START**: 20250831

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** AMERICAN CENTURY ETF TRUST
- **CENTRAL INDEX KEY:** 0001710607

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 0831

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-23305
- **FILM NUMBER:** 251153172

**BUSINESS ADDRESS:**
- **STREET 1:** 4500 MAIN STREET
- **CITY:** KANSAS CITY
- **STATE:** MO
- **ZIP:** 64111
- **BUSINESS PHONE:** (816) 531-5575

**MAIL ADDRESS:**
- **STREET 1:** 4500 MAIN STREET
- **CITY:** KANSAS CITY
- **STATE:** MO
- **ZIP:** 64111

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** American Century ETF Trust
- **DATE OF NAME CHANGE:** 20170628

## Series and Classes Contracts Data

### American Century Multisector Income ETF (Series ID: S000072410)

| Class ID   | Class Name                              | Ticker Symbol   |
|:---|:---|:---|
| C000228610 | American Century Multisector Income ETF | MUSI            |

## Nport-Ex

**American Century Investments**<sup>®</sup>

**Quarterly Portfolio Holdings**

**American Century**<sup>®</sup> **Multisector Income ETF (MUSI)**

**May 31, 2025**

------

---

| |
|:---|
| **<u>Multisector Income ETF - Schedule of Investments</u>** |
| **MAY 31, 2025 (UNAUDITED)** |

---

---

| | | |
|:---|:---|:---|
| | **Principal<br>Amount ($)/Shares** | **Value ($)** |
| **CORPORATE BONDS — 46.2%** | | |
| **Aerospace and Defense — 1.3%** | | |
| Axon Enterprise, Inc., 6.125%, 3/15/30<sup>(1)</sup> | 56000 | 57255 |
| Axon Enterprise, Inc., 6.25%, 3/15/33<sup>(1)</sup> | 32000 | 32547 |
| Bombardier, Inc., 7.50%, 2/1/29<sup>(1)</sup> | 277000 | 286912 |
| Bombardier, Inc., 8.75%, 11/15/30<sup>(1)</sup> | 233000 | 250372 |
| Bombardier, Inc., 7.25%, 7/1/31<sup>(1)(2)</sup> | 256000 | 264320 |
| Spirit AeroSystems, Inc., 4.60%, 6/15/28 | 655000 | 639141 |
| TransDigm, Inc., 4.625%, 1/15/29 | 930000 | 901388 |
|  |  | 2431935 |
| **Automobile Components — 0.4%** |  |  |
| Aptiv Swiss Holdings Ltd., VRN, 6.875%, 12/15/54 | 299000 | 293594 |
| ZF North America Capital, Inc., 6.875%, 4/23/32<sup>(1)</sup> | 440000 | 403975 |
|  |  | 697569 |
| **Automobiles — 0.7%** |  |  |
| Ford Motor Credit Co. LLC, 4.13%, 8/4/25 | 882000 | 880173 |
| Ford Motor Credit Co. LLC, 7.20%, 6/10/30 | 310000 | 321934 |
|  |  | 1202107 |
| **Banks — 3.5%** |  |  |
| Bank of Montreal, VRN, 7.70%, 5/26/84 | 585000 | 604856 |
| Bank of Nova Scotia, VRN, 3.625%, 10/27/81 | 350000 | 324183 |
| Bank of Nova Scotia, VRN, 8.625%, 10/27/82 | 200000 | 211205 |
| BPCE SA, VRN, 7.00%, 10/19/34<sup>(1)</sup> | 425000 | 460562 |
| Comerica, Inc., VRN, 5.98%, 1/30/30 | 545000 | 554068 |
| Freedom Mortgage Corp., 12.00%, 10/1/28<sup>(1)</sup> | 395000 | 424069 |
| Freedom Mortgage Holdings LLC, 9.25%, 2/1/29<sup>(1)</sup> | 429000 | 442659 |
| Intesa Sanpaolo SpA, 5.71%, 1/15/26<sup>(1)</sup> | 895000 | 897158 |
| Planet Financial Group LLC, 10.50%, 12/15/29<sup>(1)</sup> | 252000 | 248517 |
| Societe Generale SA, VRN, 3.65%, 7/8/35<sup>(1)</sup> | 374000 | 336373 |
| Toronto-Dominion Bank, VRN, 8.125%, 10/31/82 | 810000 | 850363 |
| UniCredit SpA, VRN, 5.86%, 6/19/32<sup>(1)</sup> | 897000 | 899436 |
| Zions Bancorp NA, VRN, 6.82%, 11/19/35 | 250000 | 252143 |
|  |  | 6505592 |
| **Biotechnology — 0.3%** |  |  |
| Biocon Biologics Global PLC, 6.67%, 10/9/29<sup>(1)</sup> | 500000 | 465542 |
| **Broadline Retail — 0.1%** |  |  |
| Macy's Retail Holdings LLC, 6.125%, 3/15/32<sup>(1)</sup> | 290000 | 269076 |
| **Building Products — 0.6%** |  |  |
| Builders FirstSource, Inc., 5.00%, 3/1/30<sup>(1)</sup> | 372000 | 360525 |
| Masterbrand, Inc., 7.00%, 7/15/32<sup>(1)</sup> | 410000 | 408252 |
| Standard Building Solutions, Inc., 6.50%, 8/15/32<sup>(1)</sup> | 110000 | 111788 |
| Standard Industries, Inc., 4.375%, 7/15/30<sup>(1)</sup> | 200000 | 187846 |
|  |  | 1068411 |
| **Capital Markets — 3.2%** |  |  |
| Ares Strategic Income Fund, 5.70%, 3/15/28 | 248000 | 248470 |
| Ares Strategic Income Fund, 6.35%, 8/15/29 | 305000 | 309281 |
| Bain Capital Specialty Finance, Inc., 5.95%, 3/15/30 | 487000 | 480320 |
| Blackstone Private Credit Fund, 7.30%, 11/27/28 | 272000 | 288153 |
| Blackstone Private Credit Fund, 5.95%, 7/16/29 | 260000 | 262480 |
| Blue Owl Capital Corp., 2.875%, 6/11/28 | 495000 | 456814 |

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| | | |
|:---|:---|:---|
| Blue Owl Capital Corp., 5.95%, 3/15/29 | 216000 | 215826 |
| Blue Owl Credit Income Corp., 7.75%, 1/15/29 | 855000 | 904180 |
| Blue Owl Technology Finance Corp., 6.10%, 3/15/28<sup>(1)</sup> | 611000 | 606031 |
| Fortitude Group Holdings LLC, 6.25%, 4/1/30<sup>(1)</sup> | 270000 | 273544 |
| Golub Capital BDC, Inc., 7.05%, 12/5/28 | 505000 | 527992 |
| Golub Capital Private Credit Fund, 5.80%, 9/12/29<sup>(1)</sup> | 214000 | 211983 |
| Golub Capital Private Credit Fund, 5.875%, 5/1/30<sup>(1)</sup> | 164000 | 162682 |
| HPS Corporate Lending Fund, 6.25%, 9/30/29 | 239000 | 242915 |
| LPL Holdings, Inc., 5.15%, 6/15/30 | 370000 | 370979 |
| Nuveen Churchill Direct Lending Corp., 6.65%, 3/15/30<sup>(2)</sup> | 355000 | 361596 |
|  |  | 5923246 |
| **Chemicals — 1.4%** |  |  |
| Braskem Netherlands Finance BV, 4.50%, 1/10/28<sup>(1)</sup> | 485000 | 442396 |
| Braskem Netherlands Finance BV, 4.50%, 1/31/30<sup>(1)</sup> | 880000 | 722307 |
| Celanese U.S. Holdings LLC, 6.42%, 7/15/27 | 313000 | 321115 |
| Celanese U.S. Holdings LLC, 6.50%, 4/15/30 | 730000 | 736244 |
| Orbia Advance Corp. SAB de CV, 2.875%, 5/11/31<sup>(1)(2)</sup> | 550000 | 451448 |
|  |  | 2673510 |
| **Commercial Services and Supplies — 1.0%** |  |  |
| Deluxe Corp., 8.125%, 9/15/29<sup>(1)</sup> | 898000 | 908950 |
| Williams Scotsman, Inc., 6.625%, 6/15/29<sup>(1)</sup> | 885000 | 903233 |
|  |  | 1812183 |
| **Construction and Engineering — 0.6%** |  |  |
| Brand Industrial Services, Inc., 10.375%, 8/1/30<sup>(1)</sup> | 1325000 | 1190084 |
| **Construction Materials — 0.3%** |  |  |
| Quikrete Holdings, Inc., 6.375%, 3/1/32<sup>(1)</sup> | 223000 | 226765 |
| Quikrete Holdings, Inc., 6.75%, 3/1/33<sup>(1)</sup> | 304000 | 308727 |
|  |  | 535492 |
| **Consumer Finance — 1.3%** |  |  |
| Ally Financial, Inc., 8.00%, 11/1/31 | 320000 | 358224 |
| American Express Co., VRN, 4.73%, 4/25/29 | 350000 | 352025 |
| Avolon Holdings Funding Ltd., 6.375%, 5/4/28<sup>(1)</sup> | 110000 | 113904 |
| Avolon Holdings Funding Ltd., 5.15%, 1/15/30<sup>(1)</sup> | 57000 | 56827 |
| Bread Financial Holdings, Inc., VRN, 8.375%, 6/15/35<sup>(1)(2)</sup> | 452000 | 439288 |
| Encore Capital Group, Inc., 9.25%, 4/1/29<sup>(1)</sup> | 495000 | 528412 |
| OneMain Finance Corp., 7.50%, 5/15/31 | 154000 | 158416 |
| PRA Group, Inc., 8.875%, 1/31/30<sup>(1)</sup> | 378000 | 387936 |
|  |  | 2395032 |
| **Consumer Staples Distribution & Retail — 0.4%** |  |  |
| Albertsons Cos., Inc./Safeway, Inc./New Albertsons LP/Albertsons LLC, 4.625%, 1/15/27<sup>(1)</sup> | 575000 | 569764 |
| Walgreens Boots Alliance, Inc., 3.45%, 6/1/26 | 163000 | 159499 |
|  |  | 729263 |
| **Containers and Packaging — 0.2%** |  |  |
| Sealed Air Corp., 5.00%, 4/15/29<sup>(1)</sup> | 450000 | 442147 |
| **Diversified REITs — 1.5%** |  |  |
| American Assets Trust LP, 3.375%, 2/1/31 | 630000 | 551499 |
| Kilroy Realty LP, 4.25%, 8/15/29 | 580000 | 548369 |
| Kilroy Realty LP, 2.50%, 11/15/32 | 93000 | 73165 |
| Kilroy Realty LP, 2.65%, 11/15/33 | 128000 | 98430 |
| MPT Operating Partnership LP/MPT Finance Corp., 8.50%, 2/15/32<sup>(1)</sup> | 630000 | 646241 |
| Piedmont Operating Partnership LP, 9.25%, 7/20/28 | 288000 | 318122 |
| Piedmont Operating Partnership LP, 6.875%, 7/15/29 | 64000 | 66275 |
| Piedmont Operating Partnership LP, 3.15%, 8/15/30 | 53000 | 46735 |
| Trust Fibra Uno, 4.87%, 1/15/30<sup>(1)</sup> | 284000 | 265824 |

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| | | |
|:---|:---|:---|
| Trust Fibra Uno, 7.70%, 1/23/32<sup>(1)(2)</sup> | 203000 | 207747 |
|  |  | 2822407 |
| **Diversified Telecommunication Services — 0.7%** |  |  |
| Frontier Communications Holdings LLC, 8.625%, 3/15/31<sup>(1)</sup> | 1277000 | 1360392 |
| **Electric Utilities — 1.5%** |  |  |
| AES Andes SA, 6.25%, 3/14/32<sup>(1)(2)</sup> | 200000 | 201146 |
| Buffalo Energy Mexico Holdings/Buffalo Energy Infrastructure/Buffalo Energy, 7.875%, 2/15/39<sup>(1)</sup> | 81000 | 81454 |
| Chile Electricity Lux MPC II SARL, 5.67%, 10/20/35<sup>(1)</sup> | 218000 | 217406 |
| Comision Federal de Electricidad, 6.45%, 1/24/35<sup>(1)</sup> | 490000 | 471812 |
| Empresas Publicas de Medellin ESP, 4.25%, 7/18/29<sup>(1)</sup> | 405000 | 371665 |
| Nevada Power Co., VRN, 6.25%, 5/15/55 | 71000 | 70029 |
| Pacific Gas & Electric Co., 3.15%, 1/1/26 | 895000 | 885340 |
| Palomino Funding Trust I, 7.23%, 5/17/28<sup>(1)</sup> | 520000 | 547177 |
|  |  | 2846029 |
| **Energy Equipment and Services — 0.7%** |  |  |
| Constellation Oil Services Holding SA, 9.375%, 11/7/29<sup>(1)</sup> | 322000 | 321597 |
| Enerflex Ltd., 9.00%, 10/15/27<sup>(1)</sup> | 350000 | 360827 |
| Vallourec SACA, 7.50%, 4/15/32<sup>(1)</sup> | 640000 | 668596 |
|  |  | 1351020 |
| **Entertainment — 0.3%** |  |  |
| Warnermedia Holdings, Inc., 3.76%, 3/15/27 | 495000 | 479962 |
| **Financial Services — 1.4%** |  |  |
| Antares Holdings LP, 7.95%, 8/11/28<sup>(1)</sup> | 430000 | 451156 |
| Essent Group Ltd., 6.25%, 7/1/29 | 535000 | 551781 |
| NMI Holdings, Inc., 6.00%, 8/15/29 | 523000 | 531460 |
| PennyMac Financial Services, Inc., 7.125%, 11/15/30<sup>(1)</sup> | 547000 | 559423 |
| PennyMac Financial Services, Inc., 6.875%, 2/15/33<sup>(1)</sup> | 430000 | 432846 |
|  |  | 2526666 |
| **Food Products — 0.5%** |  |  |
| Fiesta Purchaser, Inc., 9.625%, 9/15/32<sup>(1)(2)</sup> | 313000 | 328219 |
| Minerva Luxembourg SA, 8.875%, 9/13/33<sup>(1)</sup> | 485000 | 520957 |
|  |  | 849176 |
| **Gas Utilities — 0.2%** |  |  |
| AmeriGas Partners LP/AmeriGas Finance Corp., 9.50%, 6/1/30<sup>(1)</sup> | 153000 | 154640 |
| Excelerate Energy LP, 8.00%, 5/15/30<sup>(1)</sup> | 129000 | 133642 |
|  |  | 288282 |
| **Ground Transportation — 0.2%** |  |  |
| Herc Holdings Escrow, Inc., 7.25%, 6/15/33<sup>(1)(3)</sup> | 345000 | 355316 |
| **Health Care Equipment and Supplies — 0.8%** |  |  |
| Medline Borrower LP/Medline Co-Issuer, Inc., 6.25%, 4/1/29<sup>(1)</sup> | 895000 | 911838 |
| Sotera Health Holdings LLC, 7.375%, 6/1/31<sup>(1)</sup> | 475000 | 493987 |
|  |  | 1405825 |
| **Health Care Providers and Services — 1.4%** |  |  |
| Acadia Healthcare Co., Inc., 7.375%, 3/15/33<sup>(1)(2)</sup> | 745000 | 760045 |
| CHS/Community Health Systems, Inc., 4.75%, 2/15/31<sup>(1)</sup> | 820000 | 702580 |
| CVS Health Corp., VRN, 6.75%, 12/10/54 | 71000 | 69288 |
| CVS Health Corp., VRN, 7.00%, 3/10/55 | 294000 | 296872 |
| Surgery Center Holdings, Inc., 7.25%, 4/15/32<sup>(1)(2)</sup> | 717000 | 716513 |
|  |  | 2545298 |
| **Hotel & Resort REITs — 0.3%** |  |  |
| Service Properties Trust, 5.25%, 2/15/26 | 245000 | 242960 |
| Service Properties Trust, 8.375%, 6/15/29 | 265000 | 268670 |
|  |  | 511630 |
| **Hotels, Restaurants and Leisure — 2.1%** |  |  |
| Caesars Entertainment, Inc., 4.625%, 10/15/29<sup>(1)</sup> | 600000 | 560784 |

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| | | |
|:---|:---|:---|
| Caesars Entertainment, Inc., 7.00%, 2/15/30<sup>(1)</sup> | 242000 | 248475 |
| Carnival Corp., 6.125%, 2/15/33<sup>(1)</sup> | 832000 | 834574 |
| International Game Technology PLC, 4.125%, 4/15/26<sup>(1)</sup> | 550000 | 546269 |
| Light & Wonder International, Inc., 7.25%, 11/15/29<sup>(1)</sup> | 395000 | 406639 |
| Royal Caribbean Cruises Ltd., 6.00%, 2/1/33<sup>(1)</sup> | 510000 | 512149 |
| Station Casinos LLC, 4.625%, 12/1/31<sup>(1)</sup> | 308000 | 282145 |
| Wynn Las Vegas LLC/Wynn Las Vegas Capital Corp., 5.25%, 5/15/27<sup>(1)</sup> | 575000 | 572762 |
|  |  | 3963797 |
| **Household Durables — 0.4%** |  |  |
| Meritage Homes Corp., 5.65%, 3/15/35 | 249000 | 243340 |
| TopBuild Corp., 3.625%, 3/15/29<sup>(1)</sup> | 520000 | 487214 |
|  |  | 730554 |
| **Independent Power and Renewable Electricity Producers — 0.9%** |  |  |
| AES Corp., VRN, 6.95%, 7/15/55 | 207000 | 196911 |
| FIEMEX Energia - Banco Actinver SA Institucion de Banca Multiple, 7.25%, 1/31/41<sup>(1)</sup> | 397700 | 393127 |
| Greenko Wind Projects Mauritius Ltd., 7.25%, 9/27/28<sup>(1)</sup> | 476000 | 472774 |
| Saavi Energia SARL, 8.875%, 2/10/35<sup>(1)</sup> | 550000 | 563337 |
|  |  | 1626149 |
| **Insurance — 0.8%** |  |  |
| American International Group, Inc., 4.85%, 5/7/30 | 232000 | 233033 |
| F&G Annuities & Life, Inc., 6.50%, 6/4/29 | 119000 | 121712 |
| F&G Annuities & Life, Inc., 6.25%, 10/4/34 | 157000 | 151952 |
| Global Atlantic Fin Co., 4.40%, 10/15/29<sup>(1)</sup> | 506000 | 486438 |
| Prudential Financial, Inc., VRN, 6.50%, 3/15/54 | 455000 | 463070 |
|  |  | 1456205 |
| **Interactive Media and Services — 0.3%** |  |  |
| Snap, Inc., 6.875%, 3/1/33<sup>(1)</sup> | 491000 | 497843 |
| **IT Services — 0.2%** |  |  |
| CoreWeave, Inc., 9.25%, 6/1/30<sup>(1)</sup> | 460000 | 459889 |
| **Machinery — 0.9%** |  |  |
| Chart Industries, Inc., 7.50%, 1/1/30<sup>(1)</sup> | 170000 | 177659 |
| Chart Industries, Inc., 9.50%, 1/1/31<sup>(1)</sup> | 549000 | 585405 |
| Husky Injection Molding Systems Ltd./Titan Co-Borrower LLC, 9.00%, 2/15/29<sup>(1)</sup> | 870000 | 890235 |
|  |  | 1653299 |
| **Marine Transportation — 0.2%** |  |  |
| Yinson Boronia Production BV, 8.95%, 7/31/42<sup>(1)</sup> | 376648 | 392660 |
| **Media — 2.7%** |  |  |
| CCO Holdings LLC/CCO Holdings Capital Corp., 5.125%, 5/1/27<sup>(1)</sup> | 640000 | 633797 |
| CCO Holdings LLC/CCO Holdings Capital Corp., 7.375%, 3/1/31<sup>(1)</sup> | 715000 | 740472 |
| Lamar Media Corp., 3.75%, 2/15/28 | 960000 | 929438 |
| Nexstar Media, Inc., 5.625%, 7/15/27<sup>(1)</sup> | 740000 | 737504 |
| Sirius XM Radio LLC, 3.125%, 9/1/26<sup>(1)</sup> | 1045000 | 1021641 |
| TEGNA, Inc., 4.75%, 3/15/26<sup>(1)</sup> | 719000 | 715083 |
| Warner Media LLC, 3.80%, 2/15/27 | 264000 | 254316 |
|  |  | 5032251 |
| **Metals and Mining — 0.8%** |  |  |
| Cleveland-Cliffs, Inc., 7.50%, 9/15/31<sup>(1)</sup> | 196000 | 176446 |
| Cleveland-Cliffs, Inc., 7.375%, 5/1/33<sup>(1)</sup> | 414000 | 356010 |
| CSN Inova Ventures, 6.75%, 1/28/28<sup>(1)</sup> | 718000 | 680918 |
| Windfall Mining Group, Inc./Groupe Minier Windfall, Inc., 5.85%, 5/13/32<sup>(1)</sup> | 218000 | 217976 |
|  |  | 1431350 |
| **Mortgage Real Estate Investment Trusts (REITs) — 0.6%** |  |  |
| Ladder Capital Finance Holdings LLLP/Ladder Capital Finance Corp., 4.75%, 6/15/29<sup>(1)</sup> | 372000 | 360597 |
| Ladder Capital Finance Holdings LLLP/Ladder Capital Finance Corp., 7.00%, 7/15/31<sup>(1)</sup> | 760000 | 788633 |
|  |  | 1149230 |

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| | | |
|:---|:---|:---|
| **Oil, Gas and Consumable Fuels — 6.0%** | | |
| 3R Lux SARL, 9.75%, 2/5/31<sup>(1)</sup> | 570000 | 561878 |
| Blue Racer Midstream LLC/Blue Racer Finance Corp., 7.00%, 7/15/29<sup>(1)</sup> | 795000 | 821980 |
| Encino Acquisition Partners Holdings LLC, 8.50%, 5/1/28<sup>(1)</sup> | 530000 | 543976 |
| Encino Acquisition Partners Holdings LLC, 8.75%, 5/1/31<sup>(1)</sup> | 645000 | 704983 |
| EQT Corp., 7.50%, 6/1/27<sup>(1)</sup> | 385000 | 392278 |
| Expand Energy Corp., 6.75%, 4/15/29<sup>(1)</sup> | 444000 | 449491 |
| Expand Energy Corp., 5.375%, 3/15/30 | 530000 | 527534 |
| Geopark Ltd., 8.75%, 1/31/30<sup>(1)</sup> | 735000 | 583810 |
| Gran Tierra Energy, Inc., 9.50%, 10/15/29<sup>(1)</sup> | 1035000 | 725345 |
| Greensaif Pipelines Bidco SARL, 5.85%, 2/23/36<sup>(1)</sup> | 802000 | 803611 |
| Matador Resources Co., 6.50%, 4/15/32<sup>(1)</sup> | 339000 | 332232 |
| ONEOK, Inc., 6.50%, 9/1/30<sup>(1)</sup> | 522000 | 552381 |
| Petroleos Mexicanos, 6.875%, 8/4/26<sup>(2)</sup> | 486000 | 481680 |
| Petroleos Mexicanos, 6.49%, 1/23/27 | 951000 | 933709 |
| Petroleos Mexicanos, 6.50%, 3/13/27 | 1490000 | 1462691 |
| SM Energy Co., 6.75%, 9/15/26 | 497000 | 496590 |
| Sunoco LP, 7.00%, 5/1/29<sup>(1)</sup> | 223000 | 230289 |
| Trident Energy Finance PLC, 12.50%, 11/30/29<sup>(1)</sup> | 450000 | 438322 |
|  |  | 11042780 |
| **Passenger Airlines — 2.6%** |  |  |
| Air Canada, 3.875%, 8/15/26<sup>(1)</sup> | 945000 | 933670 |
| American Airlines, Series 2017-2, Class B, 3.70%, 4/15/27 | 257185 | 255178 |
| American Airlines, Inc./AAdvantage Loyalty IP Ltd., 5.50%, 4/20/26<sup>(1)</sup> | 2298392 | 2295902 |
| Delta Air Lines, Inc., 3.75%, 10/28/29 | 506000 | 475858 |
| Grupo Aeromexico SAB de CV, 8.25%, 11/15/29<sup>(1)</sup> | 640000 | 605440 |
| Latam Airlines Group SA, 7.875%, 4/15/30<sup>(1)(2)</sup> | 281000 | 282475 |
|  |  | 4848523 |
| **Pharmaceuticals — 0.2%** |  |  |
| 1261229 BC Ltd., 10.00%, 4/15/32<sup>(1)</sup> | 450000 | 445789 |
| **Professional Services — 0.1%** |  |  |
| Paychex, Inc., 5.35%, 4/15/32 | 205000 | 208130 |
| **Real Estate Management and Development — 0.6%** |  |  |
| Essential Properties LP, 2.95%, 7/15/31 | 191000 | 167183 |
| First Industrial LP, 5.25%, 1/15/31 | 159000 | 159215 |
| Forestar Group, Inc., 6.50%, 3/15/33<sup>(1)</sup> | 735000 | 729576 |
|  |  | 1055974 |
| **Semiconductors and Semiconductor Equipment — 0.6%** |  |  |
| Foundry JV Holdco LLC, 5.50%, 1/25/31<sup>(1)</sup> | 385000 | 390254 |
| Foundry JV Holdco LLC, 5.875%, 1/25/34<sup>(1)</sup> | 145000 | 145481 |
| Foundry JV Holdco LLC, 6.10%, 1/25/36<sup>(1)</sup> | 200000 | 203351 |
| Intel Corp., 3.90%, 3/25/30 | 280000 | 268147 |
| Intel Corp., 5.70%, 2/10/53 | 160000 | 143686 |
|  |  | 1150919 |
| **Software — 0.2%** |  |  |
| AppLovin Corp., 5.375%, 12/1/31 | 435000 | 439197 |
| **Specialty Retail — 0.2%** |  |  |
| Wayfair LLC, 7.75%, 9/15/30<sup>(1)</sup> | 465000 | 456747 |
| **Technology Hardware, Storage and Peripherals — 0.1%** |  |  |
| Dell International LLC/EMC Corp., 5.30%, 4/1/32 | 261000 | 262249 |
| **Trading Companies and Distributors — 0.4%** |  |  |
| Aircastle Ltd./Aircastle Ireland DAC, 5.75%, 10/1/31<sup>(1)</sup> | 12000 | 12192 |
| Fortress Transportation & Infrastructure Investors LLC, 7.00%, 6/15/32<sup>(1)</sup> | 343000 | 350899 |
| QXO Building Products, Inc., 6.75%, 4/30/32<sup>(1)</sup> | 312000 | 320689 |
|  |  | 683780 |

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| | | |
|:---|:---|:---|
| **Wireless Telecommunication Services — 0.5%** | | |
| U.S. Cellular Corp., 6.70%, 12/15/33 | 836000 | 900903 |
| **TOTAL CORPORATE BONDS**<br>(Cost $85,508,473) |  | **85571410** |
| **CONVERTIBLE PREFERRED SECURITIES — 9.8%** |  |  |
| **Banks — 8.3%** |  |  |
| Australia & New Zealand Banking Group Ltd., 6.75%<sup>(1)</sup> | 709000 | 715462 |
| Banco Bilbao Vizcaya Argentaria SA, 6.125% | 800000 | 771723 |
| Banco Mercantil del Norte SA, 8.375%<sup>(1)</sup> | 640000 | 658664 |
| Banco Santander SA, 4.75% | 800000 | 768256 |
| Barclays PLC, 6.125% | 780000 | 779278 |
| BNP Paribas SA, 4.625%<sup>(1)</sup> | 850000 | 816957 |
| Credit Agricole SA, 8.125%<sup>(1)</sup> | 965000 | 979156 |
| Danske Bank AS, 4.375% | 1029000 | 1012033 |
| HSBC Holdings PLC, 6.00% | 1000000 | 996165 |
| HSBC Holdings PLC, 7.05%<sup>(3)</sup> | 310000 | 310803 |
| ING Groep NV, 5.75% | 765000 | 760918 |
| Intesa Sanpaolo SpA, 7.70%<sup>(1)</sup> | 960000 | 965383 |
| Lloyds Banking Group PLC, 7.50% | 830000 | 833862 |
| NatWest Group PLC, 8.00% | 865000 | 868686 |
| NatWest Group PLC, 6.00% | 470000 | 469656 |
| Nordea Bank Abp, 6.625%<sup>(1)</sup> | 975000 | 979938 |
| Skandinaviska Enskilda Banken AB, 6.875% | 800000 | 816000 |
| Societe Generale SA, 4.75%<sup>(1)</sup> | 944000 | 927047 |
| Standard Chartered PLC, 6.00%<sup>(1)</sup> | 1000000 | 1001030 |
|  |  | 15431017 |
| **Capital Markets — 1.3%** |  |  |
| Deutsche Bank AG, 6.00% | 800000 | 797362 |
| UBS Group AG, 6.875% | 440000 | 440593 |
| UBS Group AG, 5.125% | 1072000 | 1064342 |
|  |  | 2302297 |
| **Insurance — 0.2%** |  |  |
| Allianz SE, 3.50%<sup>(1)</sup> | 400000 | 389662 |
| **TOTAL CONVERTIBLE PREFERRED SECURITIES**<br>(Cost $17,993,602) |  | **18122976** |
| **U.S. GOVERNMENT AGENCY MORTGAGE-BACKED SECURITIES — 9.4%** |  |  |
| **Fixed-Rate U.S. Government Agency Mortgage-Backed Securities — 9.4%** |  |  |
| FHLMC, 5.00%, 6/1/52 | 207560 | 201913 |
| FHLMC, 6.00%, 1/1/53 | 1388254 | 1407059 |
| FHLMC, 6.50%, 11/1/53 | 1745062 | 1800001 |
| FHLMC, 5.50%, 4/1/54 | 2045776 | 2040227 |
| FNMA, 3.50%, 4/1/52 | 1831427 | 1625530 |
| FNMA, 5.50%, 5/1/53 | 4373774 | 4334742 |
| FNMA, 6.00%, 9/1/53 | 1357765 | 1374813 |
| FNMA, 6.00%, 9/1/53 | 966157 | 983824 |
| FNMA, 5.00%, 1/1/54 | 1626981 | 1580710 |
| GNMA, 2.50%, TBA | 2387000 | 2000108 |
| **TOTAL U.S. GOVERNMENT AGENCY MORTGAGE-BACKED SECURITIES**<br>(Cost $17,298,425) |  | **17348927** |
| **U.S. TREASURY SECURITIES — 7.6%** |  |  |
| U.S. Treasury Notes, 5.00%, 8/31/25<sup>(4)</sup> | 1040000 | 1041445 |
| U.S. Treasury Notes, 4.625%, 9/15/26<sup>(4)</sup> | 475000 | 478358 |
| U.S. Treasury Notes, 3.875%, 3/15/28 | 2350000 | 2351561 |
| U.S. Treasury Notes, 4.375%, 12/31/29<sup>(4)</sup> | 800000 | 814187 |
| U.S. Treasury Notes, 4.125%, 11/30/31 | 950000 | 949666 |
| U.S. Treasury Notes, 4.00%, 4/30/32 | 8300000 | 8219594 |

---

------

---

| | | | |
|:---|:---|:---|:---|
| U.S. Treasury Notes, 4.50%, 11/15/33 |  | 185000 | 187804 |
| **TOTAL U.S. TREASURY SECURITIES**<br>(Cost $13,922,014) |  |  | **14042615** |
| **COLLATERALIZED MORTGAGE OBLIGATIONS — 7.3%** |  |  |  |
| **Private Sponsor Collateralized Mortgage Obligations — 6.4%** |  |  |  |
| Angel Oak Mortgage Trust, Series 2020-2, Class A2, VRN, 3.86%, 1/26/65<sup>(1)</sup> |  | 140046 | 135492 |
| Angel Oak Mortgage Trust, Series 2020-5, Class A2, SEQ, VRN, 1.58%, 5/25/65<sup>(1)</sup> |  | 262685 | 252221 |
| Angel Oak Mortgage Trust, Series 2021-5, Class A1, VRN, 0.95%, 7/25/66<sup>(1)</sup> |  | 395700 | 338787 |
| BRAVO Trust, Series 2025-SR1, Class A1, SEQ, 3.00%, 3/25/45<sup>(1)</sup> |  | 735532 | 702792 |
| Chase Home Lending Mortgage Trust, Series 2024-2, Class A6A, SEQ, VRN, 6.00%, 2/25/55<sup>(1)</sup> |  | 614384 | 615609 |
| Chase Home Lending Mortgage Trust, Series 2024-7, Class A4, VRN, 6.00%, 6/25/55<sup>(1)</sup> |  | 841443 | 846822 |
| Chase Home Lending Mortgage Trust, Series 2024-9, Class A4, VRN, 5.50%, 9/25/55<sup>(1)</sup> |  | 535982 | 534828 |
| Chase Home Lending Mortgage Trust, Series 2024-9, Class A6, SEQ, VRN, 5.50%, 9/25/55<sup>(1)</sup> |  | 225156 | 224615 |
| Citigroup Mortgage Loan Trust, Series 2024-CMI1, Class A11, VRN, 5.50%, 6/25/54<sup>(1)</sup> |  | 723882 | 721641 |
| Citigroup Mortgage Loan Trust, Series 2025-2, Class A10, VRN, 6.00%, 2/25/55<sup>(1)</sup> |  | 999281 | 1006458 |
| Deephaven Residential Mortgage Trust, Series 2021-3, Class A1, VRN, 1.19%, 8/25/66<sup>(1)</sup> |  | 230053 | 201424 |
| EFMT, Series 2024-CES1, Class A2, 5.80%, 1/26/60<sup>(1)</sup> |  | 406000 | 407857 |
| GCAT Trust, Series 2021-NQM1, Class A3, SEQ, VRN, 1.15%, 1/25/66<sup>(1)</sup> |  | 96742 | 84145 |
| GCAT Trust, Series 2024-INV3, Class A6, SEQ, VRN, 5.50%, 9/25/54<sup>(1)</sup> |  | 322749 | 322915 |
| JP Morgan Mortgage Trust, Series 2023-6, Class A4, SEQ, VRN, 6.00%, 12/26/53<sup>(1)</sup> |  | 457607 | 460173 |
| JP Morgan Mortgage Trust, Series 2023-8, Class A4, SEQ, VRN, 6.00%, 2/25/54<sup>(1)</sup> |  | 829148 | 833657 |
| JP Morgan Mortgage Trust, Series 2024-10, Class A4, VRN, 5.50%, 3/25/55<sup>(1)</sup> |  | 456737 | 454940 |
| JP Morgan Mortgage Trust, Series 2024-10, Class A6, SEQ, VRN, 5.50%, 3/25/55<sup>(1)</sup> |  | 491075 | 489370 |
| JP Morgan Mortgage Trust, Series 2024-11, Class A6, SEQ, VRN, 6.00%, 4/25/55<sup>(1)</sup> |  | 370846 | 372244 |
| JP Morgan Mortgage Trust, Series 2024-6, Class A6, SEQ, VRN, 6.00%, 12/25/54<sup>(1)</sup> |  | 235643 | 236067 |
| JP Morgan Mortgage Trust, Series 2024-INV1, Class A4, SEQ, VRN, 6.00%, 4/25/55<sup>(1)</sup> |  | 428817 | 431731 |
| MFA Trust, Series 2024-NQM1, Class A2, SEQ, 6.83%, 3/25/69<sup>(1)</sup> |  | 312837 | 316392 |
| OBX Trust, Series 2024-NQM7, Class A1, 6.24%, 3/25/64<sup>(1)</sup> |  | 458539 | 462391 |
| Rate Mortgage Trust, Series 2024-J3, Class A8, SEQ, VRN, 5.50%, 10/25/54<sup>(1)</sup> |  | 176412 | 175892 |
| Sequoia Mortgage Trust, Series 2024-10, Class A11, VRN, 5.50%, 11/25/54<sup>(1)</sup> |  | 202697 | 201994 |
| Sequoia Mortgage Trust, Series 2024-10, Class A5, SEQ, VRN, 5.50%, 11/25/54<sup>(1)</sup> |  | 296124 | 294971 |
| Triangle Re Ltd., Series 2023-1, Class M1A, VRN, 7.72%, (30-day average SOFR plus 3.40%), 11/25/33<sup>(1)</sup> |  | 226228 | 228973 |
| Verus Securitization Trust, Series 2024-5, Class A1, 6.19%, 6/25/69<sup>(1)</sup> |  | 515693 | 519999 |
|  |  |  | 11874400 |
| **U.S. Government Agency Collateralized Mortgage Obligations — 0.9%** |  |  |  |
| FHLMC, Series 2022-DNA6, Class M1A, VRN, 6.47%, (30-day average SOFR plus 2.15%), 9/25/42<sup>(1)</sup> |  | 85487 | 86300 |
| FHLMC, Series 2023-HQA2, Class M1A, VRN, 6.32%, (30-day average SOFR plus 2.00%), 6/25/43<sup>(1)</sup> |  | 112745 | 113407 |
| FNMA, Series 2022-R03, Class 1M1, VRN, 6.42%, (30-day average SOFR plus 2.10%), 3/25/42<sup>(1)</sup> |  | 131081 | 133286 |
| FNMA, Series 2022-R09, Class 2M1, VRN, 6.82%, (30-day average SOFR plus 2.50%), 9/25/42<sup>(1)</sup> |  | 188402 | 191384 |
| FNMA, Series 2023-39, Class AI, IO, 2.00%, 7/25/52 |  | 4149971 | 529853 |
| FNMA, Series 2024-R01, Class 1M1, VRN, 5.37%, (30-day average SOFR plus 1.05%), 1/25/44<sup>(1)</sup> |  | 585491 | 585929 |
|  |  |  | 1640159 |
| **TOTAL COLLATERALIZED MORTGAGE OBLIGATIONS**<br>(Cost $13,364,261) |  |  | **13514559** |
| **ASSET-BACKED SECURITIES — 5.6%** |  |  |  |
| Aligned Data Centers Issuer LLC, Series 2021-1A, Class B, 2.48%, 8/15/46<sup>(1)</sup> |  | 400000 | 381831 |
| Blackbird Capital II Aircraft Lease Ltd., Series 2021-1A, Class B, 3.45%, 7/15/46<sup>(1)</sup> |  | 337787 | 315466 |
| CARS-DB4 LP, Series 2020-1A, Class B2, 4.52%, 2/15/50<sup>(1)</sup> |  | 100000 | 96312 |
| Castlelake Aircraft Securitization Trust, Series 2018-1, Class A, SEQ, 4.125%, 6/15/43<sup>(1)</sup> |  | 92198 | 89631 |
| Cologix Canadian Issuer LP, Series 2022-1CAN, Class C, 7.74%, 1/25/52<sup>(1)</sup> | CAD | 350000 | 247195 |
| Cologix Data Centers U.S. Issuer LLC, Series 2021-1A, Class A2, SEQ, 3.30%, 12/26/51<sup>(1)</sup> |  | 775000 | 745485 |
| CyrusOne Data Centers Issuer I LLC, Series 2024-2A, Class A2, SEQ, 4.50%, 5/20/49<sup>(1)</sup> |  | 350000 | 337777 |
| Diamond Issuer LLC, Series 2021-1A, Class A, SEQ, 2.31%, 11/20/51<sup>(1)</sup> |  | 691000 | 648812 |
| Flexential Issuer, Series 2021-1A, Class A2, SEQ, 3.25%, 11/27/51<sup>(1)</sup> |  | 525000 | 502600 |
| GS Mortgage-Backed Securities Trust, Series 2024-HE1, Class A1, VRN, 5.92%, (30-day average SOFR plus 1.60%), 8/25/54<sup>(1)</sup> |  | 392383 | 392676 |

---

------

---

| | | |
|:---|:---|:---|
| Hilton Grand Vacations Trust, Series 2024-2A, Class D, 6.91%, 3/25/38<sup>(1)</sup> | 241318 | 246093 |
| Lyra Music Assets Delaware LP, Series 2024-2A, Class A2, SEQ, 5.76%, 12/22/64<sup>(1)</sup> | 691008 | 682291 |
| MACH 1 Cayman Ltd., Series 2019-1, Class A, SEQ, 3.47%, 10/15/39<sup>(1)</sup> | 145936 | 140575 |
| Navigator Aircraft ABS Ltd., Series 2021-1, Class B, SEQ, 3.57%, 11/15/46<sup>(1)</sup> | 227015 | 211399 |
| New Economy Assets - Phase 1 Sponsor LLC, Series 2021-1, Class B1, 2.41%, 10/20/61<sup>(1)</sup> | 750000 | 683879 |
| NP SPE II LLC, Series 2019-1A, Class A1, SEQ, 2.57%, 9/20/49<sup>(1)</sup> | 184666 | 180697 |
| RCKT Mortgage Trust, Series 2024-CES3, Class A1A, VRN, 6.59%, 5/25/44<sup>(1)</sup> | 174790 | 177173 |
| RCKT Mortgage Trust, Series 2024-CES4, Class A3, SEQ, 6.67%, 6/25/44<sup>(1)</sup> | 850000 | 859464 |
| Regional Management Issuance Trust, Series 2025-1, Class B, 5.53%, 4/17/34<sup>(1)</sup> | 300000 | 301820 |
| SEB Funding LLC, Series 2024-1A, Class A2, SEQ, 7.39%, 4/30/54<sup>(1)</sup> | 325000 | 331263 |
| Slam Ltd., Series 2021-1A, Class B, 3.42%, 6/15/46<sup>(1)</sup> | 377600 | 349714 |
| Stack Infrastructure Issuer LLC, Series 2021-1A, Class A2, SEQ, 1.88%, 3/26/46<sup>(1)</sup> | 167000 | 162308 |
| Subway Funding LLC, Series 2024-1A, Class A2I, SEQ, 6.03%, 7/30/54<sup>(1)</sup> | 945250 | 956629 |
| VB-S1 Issuer LLC, Series 2022-1A, Class D, 4.29%, 2/15/52<sup>(1)</sup> | 425000 | 404607 |
| VB-S1 Issuer LLC, Series 2024-1A, Class F, 8.87%, 5/15/54<sup>(1)</sup> | 475000 | 493953 |
| Vista Point Securitization Trust, Series 2024-CES1, Class A1, 6.68%, 5/25/54<sup>(1)</sup> | 534409 | 540745 |
| **TOTAL ASSET-BACKED SECURITIES**<br>(Cost $10,427,926) |  | **10480395** |
| **COLLATERALIZED LOAN OBLIGATIONS — 4.1%** |  |  |
| Arbor Realty Commercial Real Estate Notes Ltd., Series 2021-FL4, Class A, VRN, 5.79%, (1-month SOFR plus 1.46%), 11/15/36<sup>(1)</sup> | 301287 | 301376 |
| ARES XLVII CLO Ltd., Series 2018-47A, Class C, VRN, 6.27%, (3-month SOFR plus 2.01%), 4/15/30<sup>(1)</sup> | 500000 | 501364 |
| BSPRT Issuer Ltd., Series 2023-FL10, Class A, VRN, 6.59%, (1-month SOFR plus 2.26%), 9/15/35<sup>(1)</sup> | 427782 | 428427 |
| CIFC Funding Ltd., Series 2018-1A, Class CR, VRN, 6.07%, (3-month SOFR plus 1.80%), 1/18/38<sup>(1)</sup> | 475000 | 475639 |
| Dryden 30 Senior Loan Fund, Series 2013-30A, Class CR, VRN, 6.29%, (3-month SOFR plus 1.96%), 11/15/28<sup>(1)</sup> | 300000 | 300960 |
| Elmwood CLO 24 Ltd., Series 2023-3A, Class CR, VRN, 6.03%, (3-month SOFR plus 1.75%), 1/17/38<sup>(1)</sup> | 450000 | 450480 |
| HGI CRE CLO Ltd., Series 2021-FL1, Class AS, VRN, 5.84%, (1-month SOFR plus 1.51%), 6/16/36<sup>(1)</sup> | 603000 | 601179 |
| Magnetite XLI Ltd., Series 2024-41A, Class C, VRN, 6.09%, (3-month SOFR plus 1.78%), 1/25/38<sup>(1)</sup> | 250000 | 250261 |
| Magnetite XXVIII Ltd., Series 2020-28A, Class CRR, VRN, 6.01%, (3-month SOFR plus 1.75%), 1/15/38<sup>(1)</sup> | 475000 | 475546 |
| Octagon Investment Partners XV Ltd., Series 2013-1A, Class CRR, VRN, 6.53%, (3-month SOFR plus 2.26%), 7/19/30<sup>(1)</sup> | 300000 | 300945 |
| PFP Ltd., Series 2022-9, Class A, VRN, 6.60%, (1-month SOFR plus 2.27%), 8/19/35<sup>(1)</sup> | 477874 | 479282 |
| Ready Capital Mortgage Financing LLC, Series 2023-FL11, Class A, VRN, 6.70%, (1-month SOFR plus 2.37%), 10/25/39<sup>(1)</sup> | 218292 | 218440 |
| Reese Park CLO Ltd., Series 2020-1A, Class CRR, VRN, 6.16%, (3-month SOFR plus 1.90%), 1/15/38<sup>(1)</sup> | 475000 | 476352 |
| Sixth Street CLO VIII Ltd., Series 2017-8A, Class BR2, VRN, 6.07%, (3-month SOFR plus 1.80%), 10/20/34<sup>(1)</sup> | 825000 | 825631 |
| Stewart Park CLO Ltd., Series 2015-1A, Class CR, VRN, 6.32%, (3-month SOFR plus 2.06%), 1/15/30<sup>(1)</sup> | 300000 | 300838 |
| Trimaran CAVU Ltd., Series 2019-1A, Class CR, VRN, 6.22%, (3-month SOFR plus 1.95%), 1/20/37<sup>(1)</sup> | 800000 | 801417 |
| TRTX Issuer Ltd., Series 2021-FL4, Class A, VRN, 5.64%, (1-month SOFR plus 1.31%), 3/15/38<sup>(1)</sup> | 359267 | 358179 |
| **TOTAL COLLATERALIZED LOAN OBLIGATIONS**<br>(Cost $7,453,072) |  | **7546316** |
| **PREFERRED SECURITIES — 3.7%** |  |  |
| **Banks — 1.9%** |  |  |
| Bank of Nova Scotia, 4.90% | 236000 | 236438 |
| Citigroup, Inc., 3.875% | 245000 | 240634 |
| Citigroup, Inc., 4.00% | 380000 | 377061 |
| Citizens Financial Group, Inc., 5.65% | 650000 | 650083 |
| Comerica, Inc., 5.625% | 405000 | 405274 |
| Fifth Third Bancorp, 4.50% | 900000 | 895991 |
| M&T Bank Corp., 5.125%<sup>(2)</sup> | 34000 | 33602 |
| Regions Financial Corp., 5.75% | 664000 | 665119 |
|  |  | 3504202 |
| **Capital Markets — 0.2%** |  |  |
| Charles Schwab Corp., 4.00% | 349000 | 345334 |
| Charles Schwab Corp., 5.375% | 40000 | 40000 |
|  |  | 385334 |

---

------

---

| | | |
|:---|:---|:---|
| **Consumer Finance — 0.2%** | | |
| American Express Co., 3.55% | 450000 | 436299 |
| **Electric Utilities — 0.4%** |  |  |
| Edison International, 5.375% | 674000 | 641578 |
| **Multi-Utilities — 0.2%** |  |  |
| Sempra, 4.875% | 437000 | 435304 |
| **Oil, Gas and Consumable Fuels — 0.5%** |  |  |
| Energy Transfer LP, 6.50% | 925000 | 924982 |
| **Trading Companies and Distributors — 0.3%** |  |  |
| Aircastle Ltd., 5.25%<sup>(1)</sup> | 560000 | 557492 |
| **TOTAL PREFERRED SECURITIES**<br>(Cost $6,862,013) |  | **6885191** |
| **COMMERCIAL MORTGAGE-BACKED SECURITIES — 2.2%** |  |  |
| Bank, Series 2018-BN15, Class D, 3.00%, 11/15/61<sup>(1)</sup> | 145000 | 118721 |
| Bank, Series 2020-BN26, Class D, 2.50%, 3/15/63<sup>(1)</sup> | 991000 | 751532 |
| BBCMS Mortgage Trust, Series 2019-C4, Class D, 3.25%, 8/15/52<sup>(1)</sup> | 194000 | 118753 |
| Benchmark Mortgage Trust, Series 2020-B16, Class D, 2.50%, 2/15/53<sup>(1)</sup> | 363000 | 267745 |
| Benchmark Mortgage Trust, Series 2021-B31, Class D, 2.25%, 12/15/54<sup>(1)</sup> | 155000 | 100580 |
| BX Commercial Mortgage Trust, Series 2020-VIVA, Class D, VRN, 3.55%, 3/11/44<sup>(1)</sup> | 400000 | 361152 |
| BX Commercial Mortgage Trust, Series 2022-CSMO, Class A, VRN, 6.44%, (1-month SOFR plus 2.11%), 6/15/27<sup>(1)</sup> | 207000 | 207934 |
| Credit Suisse Mortgage Trust, Series 2021-BHAR, Class B, VRN, 5.94%, (1-month SOFR plus 1.61%), 11/15/38<sup>(1)</sup> | 414000 | 412879 |
| CSAIL Commercial Mortgage Trust, Series 2019-C15, Class D, 3.00%, 3/15/52<sup>(1)</sup> | 301000 | 238111 |
| Extended Stay America Trust, Series 2021-ESH, Class E, VRN, 7.29%, (1-month SOFR plus 2.96%), 7/15/38<sup>(1)</sup> | 276188 | 276579 |
| JP Morgan Chase Commercial Mortgage Securities Trust, Series 2018-AON, Class A, SEQ, 4.13%, 7/5/31<sup>(1)</sup> | 282000 | 259280 |
| Life Mortgage Trust, Series 2021-BMR, Class D, VRN, 5.84%, (1-month SOFR plus 1.51%), 3/15/38<sup>(1)</sup> | 420700 | 417225 |
| Morgan Stanley Capital I Trust, Series 2018-H3, Class D, 3.00%, 7/15/51<sup>(1)</sup> | 138000 | 114506 |
| THPT Mortgage Trust, Series 2023-THL, Class B, VRN, 7.67%, 12/10/34<sup>(1)</sup> | 250000 | 252455 |
| UBS Commercial Mortgage Trust, Series 2018-C15, Class D, VRN, 5.14%, 12/15/51<sup>(1)</sup> | 117000 | 104815 |
| **TOTAL COMMERCIAL MORTGAGE-BACKED SECURITIES**<br>(Cost $3,856,763) |  | **4002267** |
| **SOVEREIGN GOVERNMENTS AND AGENCIES — 1.1%** |  |  |
| **Colombia — 0.2%** |  |  |
| Colombia Government International Bonds, 8.50%, 4/25/35 | 200000 | 206900 |
| Colombia Government International Bonds, 7.75%, 11/7/36 | 200000 | 194300 |
|  |  | 401200 |
| **Egypt — 0.4%** |  |  |
| Egypt Government International Bonds, 7.30%, 9/30/33<sup>(1)</sup> | 800000 | 683486 |
| **Jordan — 0.3%** |  |  |
| Jordan Government International Bonds, 5.85%, 7/7/30<sup>(1)</sup> | 500000 | 469860 |
| **Panama — 0.2%** |  |  |
| Panama Government International Bonds, 6.875%, 1/31/36 | 480000 | 465348 |
| **TOTAL SOVEREIGN GOVERNMENTS AND AGENCIES**<br>(Cost $2,027,031) |  | **2019894** |
| **BANK LOAN OBLIGATIONS**<sup>(5)</sup> **— 0.9%** |  |  |
| **Air Freight and Logistics — 0.3%** |  |  |
| Rand Parent LLC, 2025 Term Loan B, 7.30%, (3-month SOFR plus 3.00%), 3/18/30 | 649373 | 638333 |
| **Passenger Airlines — 0.3%** |  |  |
| American Airlines, Inc., 2024 1st Lien Term Loan B, 6.50%, (6-month SOFR plus 2.25%), 2/15/28 | 475300 | 470017 |
| **Pharmaceuticals — 0.3%** |  |  |
| Endo Luxembourg Finance Co. I SARL, 2024 1st Lien Term Loan, 8.33%, (1-month SOFR plus 4.00%), 4/23/31 | 631825 | 618797 |
| **TOTAL BANK LOAN OBLIGATIONS**<br>(Cost $1,753,739) |  | **1727147** |
| **SHORT-TERM INVESTMENTS — 3.3%** |  |  |
| **Money Market Funds — 3.3%** |  |  |
| State Street Institutional U.S. Government Money Market Fund, Premier Class | 2962270 | 2962270 |

---

------

---

| | |
|:---|:---|
| State Street Navigator Securities Lending Government Money Market Portfolio<sup>(6)</sup> | 3143555 |
| **TOTAL SHORT-TERM INVESTMENTS**<br>(Cost $6,105,825) | **6105825** |
| **TOTAL INVESTMENT SECURITIES — 101.2%**<br>(Cost $186,573,144) | **187367522** |
| **OTHER ASSETS AND LIABILITIES — (1.2)%** | **(2135995)** |
| **TOTAL NET ASSETS — 100.0%** | $**185231527** |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **FUTURES CONTRACTS PURCHASED** | **FUTURES CONTRACTS PURCHASED** | **FUTURES CONTRACTS PURCHASED** | **FUTURES CONTRACTS PURCHASED** | **FUTURES CONTRACTS PURCHASED** |
| **Reference Entity** | **Contracts** | **Expiration Date** | **Notional**<br>**Amount** | **Unrealized**<br>**Appreciation**<br>**(Depreciation)^** |
| U.S. Treasury 2-Year Notes | 112 | September 2025 | $23233000 | $33032 |
| U.S. Treasury 5-Year Notes | 338 | September 2025 | 36567375 | 112121 |
| U.S. Treasury 10-Year Notes | 103 | September 2025 | 11407250 | 26197 |
| U.S. Treasury 10-Year Ultra Notes | 100 | September 2025 | 11254688 | 31055 |
|  |  |  | $82462313 | $202405 |

---

^Amount represents value and unrealized appreciation (depreciation).

---

| | | | | |
|:---|:---|:---|:---|:---|
| **FUTURES CONTRACTS SOLD** | **FUTURES CONTRACTS SOLD** | **FUTURES CONTRACTS SOLD** | **FUTURES CONTRACTS SOLD** | **FUTURES CONTRACTS SOLD** |
| **Reference Entity** | **Contracts** | **Expiration Date** | **Notional**<br>**Amount** | **Unrealized**<br>**Appreciation**<br>**(Depreciation)^** |
| U.S. Treasury Long Bonds | 25 | September 2025 | $2819531 | $(16260) |
| U.S. Treasury Ultra Bonds | 2 | September 2025 | 232125 | (1316) |
|  |  |  | $3051656 | $(17576) |

---

^Amount represents value and unrealized appreciation (depreciation).

---

| | | |
|:---|:---|:---|
| **NOTES TO SCHEDULE OF INVESTMENTS** | **NOTES TO SCHEDULE OF INVESTMENTS** | **NOTES TO SCHEDULE OF INVESTMENTS** |
| CAD | – | Canadian Dollar |
| FHLMC | – | Federal Home Loan Mortgage Corp. |
| FNMA | – | Federal National Mortgage Association |
| GNMA | – | Government National Mortgage Association |
| IO | – | Interest Only |
| SEQ | – | Sequential Payer |
| SOFR | – | Secured Overnight Financing Rate |
| TBA | – | To-Be-Announced. Security was purchased on a forward commitment basis with an approximate principal amount and maturity date. Actual principal amount and maturity date will be determined upon settlement. |
| VRN | – | Variable Rate Note. The rate adjusts periodically based upon the terms set forth in the security's offering documents. The rate shown is effective at the period end and the reference rate and spread, if any, is indicated. The security's effective maturity date may be shorter than the final maturity date shown. |

---

(1)Security was purchased pursuant to Rule 144A or Section 4(2) under the Securities Act of 1933 and may be sold in transactions exempt from registration, normally to qualified institutional investors. The aggregate value of these securities at the period end was $102,266,975, which represented 55.2% of total net assets.

(2)Security, or a portion thereof, is on loan. At the period end, the aggregate value of securities on loan was $3,033,086. The amount of securities on loan indicated may not correspond with the securities on loan identified because securities with pending sales are in the process of recall from the brokers.

(3)When-issued security. The issue price and yield are fixed on the date of the commitment, but payment and delivery are scheduled for a future date.

(4)Security, or a portion thereof, has been pledged at the custodian bank or with a broker for collateral requirements on forward commitments and/or futures contracts. At the period end, the aggregate value of securities pledged was $1,206,299.

(5)The interest rate on a bank loan obligation adjusts periodically based on a predetermined schedule. Rate or range of rates shown is effective at period end. The maturity date on a bank loan obligation may be less than indicated as a result of contractual or optional prepayments. These prepayments cannot be predicted with certainty.

(6)Investment of cash collateral from securities on loan. At the period end, the aggregate value of the collateral held by the fund was $3,143,555.

------

**SUPPLEMENTARY NOTES TO SCHEDULE OF INVESTMENTS** 

**1. Investment Valuations**

The fund determines the fair value of its investments and computes its net asset value (NAV) per share at the close of regular trading (usually 4 p.m. Eastern time) on the New York Stock Exchange (NYSE) on each day the NYSE is open. The value of investments of the fund is determined by American Century Investment Management, Inc. (ACIM) (the investment advisor), as the valuation designee, pursuant to its valuation policies and procedures. The Board of Trustees oversees the valuation designee and reviews its valuation policies and procedures at least annually.

Fixed income securities are valued at the evaluated mean as provided by independent pricing services or at the mean of the most recent bid and asked prices as provided by investment dealers. Corporate bonds, U.S. Treasury and Government Agency securities, bank loan obligations, and sovereign governments and agencies are valued using market models that consider trade data, quotations from dealers and active market makers, relevant yield curve and spread data, creditworthiness, trade data or market information on comparable securities, and other relevant security specific information. Mortgage-related and asset-backed securities are valued based on models that consider trade data, prepayment and default projections, benchmark yield and spread data and estimated cash flows of each tranche of the issuer. Collateralized loan obligations are valued based on discounted cash flow models that consider trade and economic data, prepayment assumptions and default projections.

Equity securities that are listed or traded on a domestic securities exchange are valued at the last reported sales price or at the official closing price as provided by the exchange. Equity securities traded on foreign securities exchanges are generally valued at the closing price of such securities on the exchange where primarily traded or at the close of the NYSE, if that is earlier. If no last sales price is reported, or if local convention or regulation so provides, the mean of the latest bid and asked prices may be used. Securities traded over-the-counter are valued at the mean of the latest bid and asked prices, the last sales price, or the official closing price.

Hybrid securities are valued at the evaluated mean as provided by independent pricing services or at the mean of the most recent bid and asked prices as provided by investment dealers. Preferred securities and convertible preferred securities with perpetual maturities are valued using market models that consider trade data, quotations from dealers and active market makers, relevant yield curve and spread data, creditworthiness, trade data or market information on comparable securities, and other relevant security specific information.

Open-end management investment companies are valued at the reported NAV per share. Exchange-traded futures contracts are valued at the settlement price as provided by the appropriate exchange. Swap agreements are valued at an evaluated mean as provided by independent pricing services or independent brokers.

If the valuation designee determines that the market price for a portfolio security is not readily available or is believed by the valuation designee to be unreliable, such security is valued at fair value as determined in good faith by the valuation designee, in accordance with its policies and procedures. Circumstances that may cause the fund to determine that market quotations are not available or reliable include, but are not limited to: when there is a significant event subsequent to the market quotation; trading in a security has been halted during the trading day; or trading in a security is insufficient or did not take place due to a closure or holiday.

The valuation designee monitors for significant events occurring after the close of an investment's primary exchange but before the fund's NAV per share is determined. Significant events may include, but are not limited to: corporate announcements and transactions; regulatory news, governmental action and political unrest that could impact a specific investment or an investment sector; or armed conflicts, natural disasters and similar events that could affect investments in a specific country or region. The valuation designee also monitors for significant fluctuations between domestic and foreign markets, as evidenced by the U.S. market or such other indicators that it deems appropriate. The valuation designee may apply a model-derived factor to the closing price of equity securities traded on foreign securities exchanges. The factor is based on observable market data as provided by an independent pricing service.

**2. Fair Value Measurements**

The fund's investments valuation process is based on several considerations and may use multiple inputs to determine the fair value of the investments held by the fund. In conformity with accounting principles generally accepted in the United States of America, the inputs used to determine a valuation are classified into three broad levels.

• Level 1 valuation inputs consist of unadjusted quoted prices in an active market for identical investments.

• Level 2 valuation inputs consist of direct or indirect observable market data (including quoted prices for comparable investments, evaluations of subsequent market events, interest rates, prepayment speeds, credit risk, etc.). These inputs also consist of quoted prices for identical investments initially expressed in local currencies that are adjusted through translation into U.S. dollars.

• Level 3 valuation inputs consist of unobservable data (including a fund's own assumptions).

The level classification is based on the lowest level input that is significant to the fair valuation measurement. The valuation inputs are not necessarily an indication of the risks associated with investing in these securities or other financial instruments.

------

The following is a summary of the level classifications as of period end. The Schedule of Investments provides additional information on the fund's portfolio holdings.

---

| | | | |
|:---|:---|:---|:---|
| | **Level 1** | **Level 2** | **Level 3** |
| **Assets** | **Assets** | **Assets** | **Assets** |
| **Investment Securities** | **Investment Securities** | **Investment Securities** | **Investment Securities** |
| Corporate Bonds |  | $85571410 |  |
| Convertible Preferred Securities |  | 18122976 |  |
| U.S. Government Agency Mortgage-Backed Securities |  | 17348927 |  |
| U.S. Treasury Securities |  | 14042615 |  |
| Collateralized Mortgage Obligations |  | 13514559 |  |
| Asset-Backed Securities |  | 10480395 |  |
| Collateralized Loan Obligations |  | 7546316 |  |
| Preferred Securities |  | 6885191 |  |
| Commercial Mortgage-Backed Securities |  | 4002267 |  |
| Sovereign Governments and Agencies |  | 2019894 |  |
| Bank Loan Obligations |  | 1727147 |  |
| Short-Term Investments | $6105825 |  |  |
|  | $6105825 | $181261697 |  |
| **Other Financial Instruments** | **Other Financial Instruments** | **Other Financial Instruments** | **Other Financial Instruments** |
| Futures Contracts | $202405 |  |  |
| **Liabilities** | **Liabilities** | **Liabilities** | **Liabilities** |
| **Other Financial Instruments** | **Other Financial Instruments** | **Other Financial Instruments** | **Other Financial Instruments** |
| Futures Contracts | $17576 |  |  |

---

*This schedule of investments provides information about the fund's portfolio holdings as of the date on the schedule. It is unaudited, and American Century Investments assumes no obligation to update or supplement the schedule to reflect subsequent changes. More information is available in the fund's most recent annual or semiannual shareholder report.*

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** American Century ETF Trust

- **b. Investment Company Act file number:** 811-23305

- **c. CIK number of Registrant:** 0001710607

- **d. LEI of Registrant:** 5493006IKK34YJD98183

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

  - **Street Address 1:** 4500 Main St

  - **City:** Kansas City

  - **State:** MO

  - **Foreign country:** US

  - **Zip / Postal Code:** 64111

  - **Telephone number:** 816-531-5575

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

- **a. Name of Series:** American Century Multisector Income ETF

- **b. EDGAR series identifier (if any):** S000072410

- **c. LEI of Series:** 5493000I0UZ5BUDGGF98

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

- **a. Date of fiscal year-end:** 2025-08-31

- **b. Date as of which information is reported:** 2025-05-31

**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:** $191500560.63

**Total Liabilities:** $6238367.58

**Net Assets:** $185262193.05

**Cash Not Reported:** $66080.59

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** 336.000000000000 | **1-Year:** 2052.000000000000 | **5-Year:** 7680.000000000000 | **10-Year:** 7230.000000000000 | **30-Year:** 12871.000000000000

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

- **3-Month:** 53.000000000000 | **1-Year:** 2539.000000000000 | **5-Year:** 10074.000000000000 | **10-Year:** 4251.000000000000 | **30-Year:** 2893.000000000000

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000228610 | -0.37%               | 0.37%                | 0.40%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $169208.33               | $-1696804.11                               |
| Month 2  | $-210336.08              | $-744581.48                                |
| Month 3  | $-100635.85              | $658813.81                                 |

**Designated Index Information**

- **Index Name:** N/A

- **Index Identifier:** N/A

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| BANK 2020-BNK26                                                                                                               | BANK 2020-BNK26 2.50                                                                            | CUSIP: 06540JAJ1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    991000 | PA      | $751531.59    | 0.41%             | 2063-03-15      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| Barclays PLC                                                                                                                  | Barclays PLC (pfd) 6.13% 12/15/2173 Perpetual                                                   | CUSIP: 06738EBN4<br>LEI: 213800LBQA1Y9L22JB70 | Long             | EP               | CORP              | GB        |    780000 | NS      | $779278.19    | 0.42%             |  |  |  | No            |                  2 | On Loan: No      |
| Barclays Commercial Mortgage Trust 2019-C4                                                                                    | Barclays Commercial Mortgage Trust 2019-C4 3.25                                                 | CUSIP: 07335CAT1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    194000 | PA      | $118753.22    | 0.06%             | 2052-08-15      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| Benchmark 2020-B16 Mortgage Trust                                                                                             | Benchmark 2020-B16 Mortgage Trust 2.50                                                          | CUSIP: 08161NAW7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    363000 | PA      | $267744.95    | 0.14%             | 2053-02-15      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| Benchmark 2021-B31 Mortgage Trust                                                                                             | Benchmark 2021-B31 Mortgage Trust 2.25                                                          | CUSIP: 08163MAW7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    155000 | PA      | $100579.95    | 0.05%             | 2054-12-15      | Fixed         | 2.25%                 | No            |                  2 | On Loan: No      |
| Biocon Biologics Global PLC                                                                                                   | Biocon Biologics Global PLC 6.67 10/09/2029                                                     | CUSIP: 090978AA5<br>LEI: 254900PMQN51VACG2D55 | Long             | DBT              | CORP              | GB        |    500000 | PA      | $465542.15    | 0.25%             | 2029-10-09      | Fixed         | 6.67%                 | No            |                  2 | On Loan: No      |
| Blackbird Capital II Aircraft Lease Ltd                                                                                       | Blackbird Capital II Aircraft Lease Ltd 3.45                                                    | CUSIP: 09229CAB5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    337787 | PA      | $315466.39    | 0.17%             | 2046-07-15      | Fixed         | 3.45%                 | No            |                  2 | On Loan: No      |
| Blackstone Private Credit Fund                                                                                                | Blackstone Private Credit Fund 7.30 11/27/2028                                                  | CUSIP: 09261HBC0<br>LEI: 549300ORP3TTCNXSYO43 | Long             | DBT              | CORP              | US        |    272000 | PA      | $288153.49    | 0.16%             | 2028-11-27      | Fixed         | 7.30%                 | No            |                  2 | On Loan: No      |
| Blackstone Private Credit Fund                                                                                                | Blackstone Private Credit Fund 5.95 07/16/2029                                                  | CUSIP: 09261HBN6<br>LEI: 549300ORP3TTCNXSYO43 | Long             | DBT              | CORP              | US        |    260000 | PA      | $262480.30    | 0.14%             | 2029-07-16      | Fixed         | 5.95%                 | No            |                  2 | On Loan: No      |
| Blue Racer Midstream LLC / Blue Racer Finance Corp                                                                            | Blue Racer Midstream LLC / Blue Racer Finance Corp 7.00 07/15/2029                              | CUSIP: 095796AJ7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    795000 | PA      | $821979.92    | 0.44%             | 2029-07-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| Blue Owl Technology Finance Corp                                                                                              | Blue Owl Technology Finance Corp 6.10 03/15/2028                                                | CUSIP: 095924AA4<br>LEI: 254900G5EZJSOD3UKL16 | Long             | DBT              | CORP              | US        |    611000 | PA      | $606031.38    | 0.33%             | 2028-03-15      | Fixed         | 6.10%                 | No            |                  2 | On Loan: No      |
| Bombardier Inc                                                                                                                | Bombardier Inc 7.50 02/01/2029                                                                  | CUSIP: 097751BZ3<br>LEI: W7L3VLU8EHQY34Z36697 | Long             | DBT              | CORP              | CA        |    277000 | PA      | $286911.97    | 0.15%             | 2029-02-01      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| Bombardier Inc                                                                                                                | Bombardier Inc 8.75 11/15/2030                                                                  | CUSIP: 097751CA7<br>LEI: W7L3VLU8EHQY34Z36697 | Long             | DBT              | CORP              | CA        |    233000 | PA      | $250372.01    | 0.14%             | 2030-11-15      | Fixed         | 8.75%                 | No            |                  2 | On Loan: No      |
| Bombardier Inc                                                                                                                | Bombardier Inc 7.25 07/01/2031                                                                  | CUSIP: 097751CB5<br>LEI: W7L3VLU8EHQY34Z36697 | Long             | DBT              | CORP              | CA        |    256000 | PA      | $264320.26    | 0.14%             | 2031-07-01      | Fixed         | 7.25%                 | No            |                  2 | On Loan: —       |
| Brand Industrial Services Inc                                                                                                 | Brand Industrial Services Inc 10.38 08/01/2030                                                  | CUSIP: 104931AA8<br>LEI: 549300B658W2BPDQMW42 | Long             | DBT              | CORP              | US        |   1325000 | PA      | $1190083.73   | 0.64%             | 2030-08-01      | Fixed         | 10.38%                | No            |                  2 | On Loan: No      |
| Braskem Netherlands Finance BV                                                                                                | Braskem Netherlands Finance BV 4.50 01/10/2028                                                  | CUSIP: 10554TAB1<br>LEI: 2549000TLMHFQ74DS330 | Long             | DBT              | CORP              | NL        |    485000 | PA      | $442396.34    | 0.24%             | 2028-01-10      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Braskem Netherlands Finance BV                                                                                                | Braskem Netherlands Finance BV 4.50 01/31/2030                                                  | CUSIP: 10554TAD7<br>LEI: 2549000TLMHFQ74DS330 | Long             | DBT              | CORP              | NL        |    880000 | PA      | $722307.34    | 0.39%             | 2030-01-31      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| BRAVO Trust 2025-SR1                                                                                                          | BRAVO Trust 2025-SR1 3.00                                                                       | CUSIP: 10567UAA5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    735532 | PA      | $702792.37    | 0.38%             | 2045-03-25      | Variable      | 3.00%                 | No            |                  2 | On Loan: No      |
| Buffalo Energy Mexico Holdings / Buffalo Energy Infrastructure / Buffalo Energy                                               | Buffalo Energy Mexico Holdings / Buffalo Energy Infrastructure / Buffalo Energy 7.88 02/15/2039 | CUSIP: 11952AAA0<br>LEI: N/A                  | Long             | DBT              | CORP              | MX        |    630000 | PA      | $633529.89    | 0.34%             | 2039-02-15      | Fixed         | 7.88%                 | No            |                  2 | On Loan: No      |
| OBX 2024-NQM7 Trust                                                                                                           | OBX 2024-NQM7 Trust 6.24                                                                        | CUSIP: 67119FAA1<br>LEI: 254900FVMB3WTXJGGR91 | Long             | ABS-MBS          | CORP              | US        |    458539 | PA      | $462391.29    | 0.25%             | 2064-03-25      | Variable      | 6.24%                 | No            |                  2 | On Loan: No      |
| Octagon Investment Partners Lt                                                                                                | Octagon Investment Partners XV Ltd 6.53                                                         | CUSIP: 67590EBL7<br>LEI: 549300VYCI9AZ4NZBX86 | Long             | ABS-CBDO         | CORP              | US        |    300000 | PA      | $300945.33    | 0.16%             | 2030-07-19      | Floating      | 6.53%                 | No            |                  2 | On Loan: No      |
| OneMain Finance Corp                                                                                                          | OneMain Finance Corp 7.50 05/15/2031                                                            | CUSIP: 682691AF7<br>LEI: 5493008I795YYBFWFU90 | Long             | DBT              | CORP              | US        |    154000 | PA      | $158415.71    | 0.09%             | 2031-05-15      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| 1261229 BC Ltd                                                                                                                | 1261229 BC Ltd 10.00 04/15/2032                                                                 | CUSIP: 68288AAA5<br>LEI: N/A                  | Long             | DBT              | CORP              | CA        |    450000 | PA      | $445788.86    | 0.24%             | 2032-04-15      | Fixed         | 10.00%                | No            |                  2 | On Loan: No      |
| Orbia Advance Corp SAB de CV                                                                                                  | Orbia Advance Corp SAB de CV 2.88 05/11/2031                                                    | CUSIP: 68560EAB4<br>LEI: 549300MVHZ20SBIOEQ79 | Long             | DBT              | CORP              | MX        |    550000 | PA      | $451448.57    | 0.24%             | 2031-05-11      | Fixed         | 2.88%                 | No            |                  2 | On Loan: —       |
| Blue Owl Credit Income Corp                                                                                                   | Blue Owl Credit Income Corp 7.75 01/15/2029                                                     | CUSIP: 69120VAW1<br>LEI: 5493003I42XBWPE05N35 | Long             | DBT              | CORP              | US        |    855000 | PA      | $904180.50    | 0.49%             | 2029-01-15      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| Blue Owl Capital Corp                                                                                                         | Blue Owl Capital Corp 2.88 06/11/2028                                                           | CUSIP: 69121KAG9<br>LEI: 2549000BD79OOCPF2L94 | Long             | DBT              | CORP              | US        |    495000 | PA      | $456814.36    | 0.25%             | 2028-06-11      | Fixed         | 2.88%                 | No            |                  2 | On Loan: No      |
| Blue Owl Capital Corp                                                                                                         | Blue Owl Capital Corp 5.95 03/15/2029                                                           | CUSIP: 69121KAH7<br>LEI: 2549000BD79OOCPF2L94 | Long             | DBT              | CORP              | US        |    216000 | PA      | $215825.80    | 0.12%             | 2029-03-15      | Fixed         | 5.95%                 | No            |                  2 | On Loan: No      |
| PFP III Ltd                                                                                                                   | PFP 2022-9 Ltd 6.60                                                                             | CUSIP: 69291QAA3<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |    477873 | PA      | $479281.69    | 0.26%             | 2035-08-19      | Floating      | 6.60%                 | No            |                  2 | On Loan: No      |
| PRA Group Inc                                                                                                                 | PRA Group Inc 8.88 01/31/2030                                                                   | CUSIP: 69354NAF3<br>LEI: 549300Q5HW3JSSB86K27 | Long             | DBT              | CORP              | US        |    378000 | PA      | $387936.33    | 0.21%             | 2030-01-31      | Fixed         | 8.88%                 | No            |                  2 | On Loan: No      |
| Pacific Gas and Electric Co                                                                                                   | Pacific Gas and Electric Co 3.15 01/01/2026                                                     | CUSIP: 694308JP3<br>LEI: 1HNPXZSMMB7HMBMVBS46 | Long             | DBT              | CORP              | US        |    895000 | PA      | $885340.09    | 0.48%             | 2026-01-01      | Fixed         | 3.15%                 | No            |                  2 | On Loan: No      |
| Palomino Funding Trust I                                                                                                      | Palomino Funding Trust I 7.23 05/17/2028                                                        | CUSIP: 69754AAA8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    520000 | PA      | $547177.55    | 0.30%             | 2028-05-17      | Fixed         | 7.23%                 | No            |                  2 | On Loan: No      |
| Panama Government International Bond                                                                                          | Panama Government International Bond 6.88 01/31/2036                                            | CUSIP: 698299BW3<br>LEI: 549300SHS4T08CL0LP14 | Long             | DBT              | NUSS              | PA        |    480000 | PA      | $465348.00    | 0.25%             | 2036-01-31      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| Paychex Inc                                                                                                                   | Paychex Inc 5.35 04/15/2032                                                                     | CUSIP: 704326AB3<br>LEI: 529900K900DW6SUBM174 | Long             | DBT              | CORP              | US        |    205000 | PA      | $208130.09    | 0.11%             | 2032-04-15      | Fixed         | 5.35%                 | No            |                  2 | On Loan: No      |
| PennyMac Financial Services Inc                                                                                               | PennyMac Financial Services Inc 7.13 11/15/2030                                                 | CUSIP: 70932MAE7<br>LEI: 549300W1D516HBDEU871 | Long             | DBT              | CORP              | US        |    547000 | PA      | $559422.92    | 0.30%             | 2030-11-15      | Fixed         | 7.12%                 | No            |                  2 | On Loan: No      |
| PennyMac Financial Services Inc                                                                                               | PennyMac Financial Services Inc 6.88 02/15/2033                                                 | CUSIP: 70932MAF4<br>LEI: 549300W1D516HBDEU871 | Long             | DBT              | CORP              | US        |    430000 | PA      | $432846.60    | 0.23%             | 2033-02-15      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| Petroleos Mexicanos                                                                                                           | Petroleos Mexicanos 6.88 08/04/2026                                                             | CUSIP: 71654QCB6<br>LEI: 549300CAZKPF4HKMPX17 | Long             | DBT              | CORP              | MX        |    486000 | PA      | $481680.33    | 0.26%             | 2026-08-04      | Fixed         | 6.88%                 | No            |                  2 | On Loan: —       |
| Petroleos Mexicanos                                                                                                           | Petroleos Mexicanos 6.50 03/13/2027                                                             | CUSIP: 71654QCG5<br>LEI: 549300CAZKPF4HKMPX17 | Long             | DBT              | CORP              | MX        |   1490000 | PA      | $1462690.98   | 0.79%             | 2027-03-13      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Petroleos Mexicanos                                                                                                           | Petroleos Mexicanos 6.49 01/23/2027                                                             | CUSIP: 71654QDB5<br>LEI: 549300CAZKPF4HKMPX17 | Long             | DBT              | CORP              | MX        |    951000 | PA      | $933708.63    | 0.50%             | 2027-01-23      | Fixed         | 6.49%                 | No            |                  2 | On Loan: No      |
| Piedmont Operating Partnership LP                                                                                             | Piedmont Operating Partnership LP 3.15 08/15/2030                                               | CUSIP: 720198AE0<br>LEI: 549300WKGDPAS39FBD10 | Long             | DBT              | CORP              | US        |     53000 | PA      | $46735.03     | 0.03%             | 2030-08-15      | Fixed         | 3.15%                 | No            |                  2 | On Loan: No      |
| Piedmont Operating Partnership LP                                                                                             | Piedmont Operating Partnership LP 9.25 07/20/2028                                               | CUSIP: 720198AG5<br>LEI: 549300WKGDPAS39FBD10 | Long             | DBT              | CORP              | US        |    288000 | PA      | $318121.54    | 0.17%             | 2028-07-20      | Fixed         | 9.25%                 | No            |                  2 | On Loan: No      |
| Piedmont Operating Partnership LP                                                                                             | Piedmont Operating Partnership LP 6.88 07/15/2029                                               | CUSIP: 720198AJ9<br>LEI: 549300WKGDPAS39FBD10 | Long             | DBT              | CORP              | US        |     64000 | PA      | $66274.66     | 0.04%             | 2029-07-15      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| Planet Financial Group LLC                                                                                                    | Planet Financial Group LLC 10.50 12/15/2029                                                     | CUSIP: 72702AAA5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    252000 | PA      | $248517.23    | 0.13%             | 2029-12-15      | Fixed         | 10.50%                | No            |                  2 | On Loan: No      |
| Prudential Financial Inc                                                                                                      | Prudential Financial Inc 6.50 03/15/2054                                                        | CUSIP: 744320BP6<br>LEI: 5PRBRS5FEH7NREC8OR45 | Long             | DBT              | CORP              | US        |    455000 | PA      | $463070.01    | 0.25%             | 2054-03-15      | Variable      | 6.50%                 | No            |                  2 | On Loan: No      |
| QXO Building Products Inc                                                                                                     | QXO Building Products Inc 6.75 04/30/2032                                                       | CUSIP: 74825NAA5<br>LEI: 549300HDXQWWCBOYXP31 | Long             | DBT              | CORP              | US        |    312000 | PA      | $320689.16    | 0.17%             | 2032-04-30      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| Quikrete Holdings Inc                                                                                                         | Quikrete Holdings Inc 6.38 03/01/2032                                                           | CUSIP: 74843PAA8<br>LEI: 5493007KIN86DIZWZT22 | Long             | DBT              | CORP              | US        |    223000 | PA      | $226764.69    | 0.12%             | 2032-03-01      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| Quikrete Holdings Inc                                                                                                         | Quikrete Holdings Inc 6.75 03/01/2033                                                           | CUSIP: 74843PAB6<br>LEI: 5493007KIN86DIZWZT22 | Long             | DBT              | CORP              | US        |    304000 | PA      | $308727.50    | 0.17%             | 2033-03-01      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| RCKT Mortgage Trust 2024-CES4                                                                                                 | RCKT Mortgage Trust 2024-CES4 6.67                                                              | CUSIP: 74939FAD9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    850000 | PA      | $859464.41    | 0.46%             | 2044-06-25      | Variable      | 6.67%                 | No            |                  2 | On Loan: No      |
| RCKT Mortgage Trust 2024-CES3                                                                                                 | RCKT Mortgage Trust 2024-CES3 6.59                                                              | CUSIP: 74942AAA1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    174790 | PA      | $177173.27    | 0.10%             | 2044-05-25      | Variable      | 6.59%                 | No            |                  2 | On Loan: No      |
| Rand Parent LLC                                                                                                               | RAND PARENT LLC 2025 TERM LOAN B                                                                | CUSIP: 75223LAD8<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    649372 | PA      | $638333.17    | 0.34%             | 2030-03-18      | Floating      | 7.30%                 | No            |                  2 | On Loan: No      |
| RATE Mortgage Trust 2024-J3                                                                                                   | RATE Mortgage Trust 2024-J3 5.50                                                                | CUSIP: 75409UAH5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    176412 | PA      | $175892.01    | 0.09%             | 2054-10-25      | Variable      | 5.50%                 | No            |                  2 | On Loan: No      |
| Ready Capital Corp                                                                                                            | Ready Capital Mortgage Financing 2023-FL11 LLC 6.70                                             | CUSIP: 75575RAA5<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |    218292 | PA      | $218439.90    | 0.12%             | 2039-10-25      | Floating      | 6.70%                 | No            |                  2 | On Loan: No      |
| REESE PARK CLO LTD                                                                                                            | REESE PARK CLO LTD 6.16                                                                         | CUSIP: 758465BQ0<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |    475000 | PA      | $476351.90    | 0.26%             | 2038-01-15      | Floating      | 6.16%                 | No            |                  2 | On Loan: No      |
| Regional Management Issuance Trust 2025-1                                                                                     | Regional Management Issuance Trust 2025-1 5.53                                                  | CUSIP: 75908AAB8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    300000 | PA      | $301819.62    | 0.16%             | 2034-04-17      | Fixed         | 5.53%                 | No            |                  2 | On Loan: No      |
| Regions Financial Corp                                                                                                        | Regions Financial Corp (pfd) 5.75% 09/15/2173 Perpetual                                         | CUSIP: 7591EPAR1<br>LEI: CW05CS5KW59QTC0DG824 | Long             | EP               | CORP              | US        |    664000 | NS      | $665118.57    | 0.36%             |  |  |  | No            |                  2 | On Loan: No      |
| NatWest Group PLC                                                                                                             | NatWest Group PLC (pfd) 6.00% 09/30/2173 Perpetual                                              | CUSIP: 780097BQ3<br>LEI: 2138005O9XJIJN4JPN90 | Long             | EP               | CORP              | GB        |    470000 | NS      | $469656.34    | 0.25%             |  |  |  | No            |                  2 | On Loan: No      |
| NatWest Group PLC                                                                                                             | NatWest Group PLC (pfd) 8.00% 09/30/2173 Perpetual                                              | CUSIP: 780099CK1<br>LEI: 2138005O9XJIJN4JPN90 | Long             | EP               | CORP              | GB        |    865000 | NS      | $868685.77    | 0.47%             |  |  |  | No            |                  2 | On Loan: No      |
| Royal Caribbean Cruises Ltd                                                                                                   | Royal Caribbean Cruises Ltd 6.00 02/01/2033                                                     | CUSIP: 780153BV3<br>LEI: K2NEH8QNVW44JIWK7Z55 | Long             | DBT              | CORP              | US        |    510000 | PA      | $512149.37    | 0.28%             | 2033-02-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| SEB Funding LLC                                                                                                               | SEB Funding LLC 7.39                                                                            | CUSIP: 78433DAC8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    325000 | PA      | $331262.69    | 0.18%             | 2054-04-30      | Fixed         | 7.39%                 | No            |                  2 | On Loan: No      |
| Slam 2021-1 Ltd                                                                                                               | Slam 2021-1 Ltd 3.42                                                                            | CUSIP: 78449AAC6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    377600 | PA      | $349714.43    | 0.19%             | 2046-06-15      | Fixed         | 3.42%                 | No            |                  2 | On Loan: No      |
| SM Energy Co                                                                                                                  | SM Energy Co 6.75 09/15/2026                                                                    | CUSIP: 78454LAN0<br>LEI: 84BUTVXV5ODI6BXNMH43 | Long             | DBT              | CORP              | US        |    497000 | PA      | $496590.07    | 0.27%             | 2026-09-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| Saavi Energia Sarl                                                                                                            | Saavi Energia Sarl 8.88 02/10/2035                                                              | CUSIP: 78518PAA3<br>LEI: N/A                  | Long             | DBT              | CORP              | LU        |    550000 | PA      | $563337.50    | 0.30%             | 2035-02-10      | Fixed         | 8.88%                 | No            |                  2 | On Loan: No      |
| Charles Schwab Corp/The                                                                                                       | Charles Schwab Corp/The (pfd) 5.38% 09/01/2173 Perpetual                                        | CUSIP: 808513BD6<br>LEI: 549300VSGCJ7E698NM85 | Long             | EP               | CORP              | US        |     40000 | NS      | $40000.00     | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| Charles Schwab Corp/The                                                                                                       | Charles Schwab Corp/The (pfd) 4.00% 06/01/2174 Perpetual                                        | CUSIP: 808513BK0<br>LEI: 549300VSGCJ7E698NM85 | Long             | EP               | CORP              | US        |    349000 | NS      | $345334.52    | 0.19%             |  |  |  | No            |                  2 | On Loan: No      |
| Light & Wonder International Inc                                                                                              | Light & Wonder International Inc 7.25 11/15/2029                                                | CUSIP: 80874YBE9<br>LEI: RLTHESQ0RNFQJWPBJN60 | Long             | DBT              | CORP              | US        |    395000 | PA      | $406638.68    | 0.22%             | 2029-11-15      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| Sealed Air Corp                                                                                                               | Sealed Air Corp 5.00 04/15/2029                                                                 | CUSIP: 81211KBA7<br>LEI: Q0M0CZB4YN6JZ65WXI09 | Long             | DBT              | CORP              | US        |    450000 | PA      | $442147.50    | 0.24%             | 2029-04-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Sempra                                                                                                                        | Sempra (pfd) 4.88% 10/15/2173 Perpetual                                                         | CUSIP: 816851BK4<br>LEI: PBBKGKLRK5S5C0Y4T545 | Long             | EP               | CORP              | US        |    437000 | NS      | $435303.57    | 0.23%             |  |  |  | No            |                  2 | On Loan: No      |
| Sequoia Mortgage Trust 2024-10                                                                                                | Sequoia Mortgage Trust 2024-10 5.50                                                             | CUSIP: 81749QAE8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    296124 | PA      | $294970.87    | 0.16%             | 2054-11-25      | Variable      | 5.50%                 | No            |                  2 | On Loan: No      |
| Sequoia Mortgage Trust 2024-10                                                                                                | Sequoia Mortgage Trust 2024-10 5.50                                                             | CUSIP: 81749QAL2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    202697 | PA      | $201993.73    | 0.11%             | 2054-11-25      | Variable      | 5.50%                 | No            |                  2 | On Loan: No      |
| Service Properties Trust                                                                                                      | Service Properties Trust 8.38 06/15/2029                                                        | CUSIP: 81761LAD4<br>LEI: 529900IS770AG1K9QG27 | Long             | DBT              | CORP              | US        |    265000 | PA      | $268670.25    | 0.15%             | 2029-06-15      | Fixed         | 8.38%                 | No            |                  2 | On Loan: No      |
| Sirius XM Radio LLC                                                                                                           | Sirius XM Radio LLC 3.13 09/01/2026                                                             | CUSIP: 82967NBL1<br>LEI: WP5O65E6BMU84LNO4227 | Long             | DBT              | CORP              | US        |   1045000 | PA      | $1021641.39   | 0.55%             | 2026-09-01      | Fixed         | 3.12%                 | No            |                  2 | On Loan: No      |
| Sixth Street CLO VIII Ltd                                                                                                     | SIXST 2017-8A BR2 0.00                                                                          | CUSIP: 83012VAE3<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |    825000 | PA      | $825630.55    | 0.45%             | 2034-10-20      | Floating      | 6.07%                 | No            |                  2 | On Loan: No      |
| Snap Inc                                                                                                                      | Snap Inc 6.88 03/01/2033                                                                        | CUSIP: 83304AAL0<br>LEI: 549300JNC0L6VP8A2Q35 | Long             | DBT              | CORP              | US        |    491000 | PA      | $497842.58    | 0.27%             | 2033-03-01      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| Societe Generale SA                                                                                                           | Societe Generale SA 3.65 07/08/2035                                                             | CUSIP: 83368RAY8<br>LEI: O2RNE8IBXP4R0TD8PU41 | Long             | DBT              | CORP              | FR        |    374000 | PA      | $336373.30    | 0.18%             | 2035-07-08      | Variable      | 3.65%                 | No            |                  2 | On Loan: No      |
| Societe Generale SA                                                                                                           | Societe Generale SA (pfd) 4.75% 11/26/2173 Perpetual                                            | CUSIP: 83370RAB4<br>LEI: O2RNE8IBXP4R0TD8PU41 | Long             | EP               | CORP              | FR        |    944000 | NS      | $927047.27    | 0.50%             |  |  |  | No            |                  2 | On Loan: No      |
| Sotera Health Holdings LLC                                                                                                    | Sotera Health Holdings LLC 7.38 06/01/2031                                                      | CUSIP: 83600WAE9<br>LEI: 549300OVT7MBXFLOFU20 | Long             | DBT              | CORP              | US        |    475000 | PA      | $493986.70    | 0.27%             | 2031-06-01      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| Expand Energy Corp                                                                                                            | Expand Energy Corp 5.38 03/15/2030                                                              | CUSIP: 845467AS8<br>LEI: X2MT1W32SPAZ9WSKLE78 | Long             | DBT              | CORP              | US        |    530000 | PA      | $527533.80    | 0.28%             | 2030-03-15      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| Spirit AeroSystems Inc                                                                                                        | Spirit AeroSystems Inc 4.60 06/15/2028                                                          | CUSIP: 85205TAK6<br>LEI: ZD2NBKV6GCC3UMGBM518 | Long             | DBT              | CORP              | US        |    655000 | PA      | $639141.40    | 0.34%             | 2028-06-15      | Fixed         | 4.60%                 | No            |                  2 | On Loan: No      |
| Stack Infrastructure Issuer LLC                                                                                               | Stack Infrastructure Issuer LLC 1.88                                                            | CUSIP: 85236KAE2<br>LEI: 254900AV7V87H3A2WM57 | Long             | ABS-MBS          | CORP              | US        |    167000 | PA      | $162307.85    | 0.09%             | 2046-03-26      | Fixed         | 1.88%                 | No            |                  2 | On Loan: No      |
| Standard Building Solutions Inc                                                                                               | Standard Building Solutions Inc 6.50 08/15/2032                                                 | CUSIP: 853191AA2<br>LEI: 54930064UHXCIUWVI755 | Long             | DBT              | CORP              | US        |    110000 | PA      | $111787.72    | 0.06%             | 2032-08-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Standard Chartered PLC                                                                                                        | Standard Chartered PLC (pfd) 6.00% 01/26/2174 Perpetual                                         | CUSIP: 853254BT6<br>LEI: U4LOSYZ7YG4W3S5F2G91 | Long             | EP               | CORP              | GB        |   1000000 | NS      | $1001029.60   | 0.54%             |  |  |  | No            |                  2 | On Loan: No      |
| Standard Industries Inc/NY                                                                                                    | Standard Industries Inc/NY 4.38 07/15/2030                                                      | CUSIP: 853496AG2<br>LEI: 54930064UHXCIUWVI755 | Long             | DBT              | CORP              | US        |    200000 | PA      | $187845.98    | 0.10%             | 2030-07-15      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| Station Casinos LLC                                                                                                           | Station Casinos LLC 4.63 12/01/2031                                                             | CUSIP: 857691AH2<br>LEI: 5493004E7Q60TX54WL62 | Long             | DBT              | CORP              | US        |    308000 | PA      | $282145.06    | 0.15%             | 2031-12-01      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| Stewart Park CLO                                                                                                              | Stewart Park CLO Ltd 6.32                                                                       | CUSIP: 860444AS7<br>LEI: 549300FC1IHOM4H6GL63 | Long             | ABS-CBDO         | CORP              | US        |    300000 | PA      | $300838.35    | 0.16%             | 2030-01-15      | Floating      | 6.32%                 | No            |                  2 | On Loan: No      |
| Subway Funding LLC                                                                                                            | Subway Funding LLC 6.03                                                                         | CUSIP: 864300AA6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    945250 | PA      | $956628.45    | 0.52%             | 2054-07-30      | Fixed         | 6.03%                 | No            |                  2 | On Loan: No      |
| State Street Institutional US Government Money Market Fund                                                                    | State Street Institutional US Government Money Market Fund                                      | CUSIP: 857492706<br>LEI: 549300BZ5TGIFZUZDZ37 | Long             | STIV             | RF                | US        |   2962270 | NS      | $2962269.61   | 1.60%             |  |  |  | No            |                  1 | On Loan: No      |
| U.S. TREASURY                                                                                                                 | United States Treasury Note/Bond 5.00 08/31/2025                                                | CUSIP: 91282CHV6<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   1040000 | PA      | $1041445.05   | 0.56%             | 2025-08-31      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Wayfair LLC                                                                                                                   | Wayfair LLC 7.75 09/15/2030                                                                     | CUSIP: 94419NAB3<br>LEI: 549300CTUWTZGOXMYI40 | Long             | DBT              | CORP              | US        |    465000 | PA      | $456746.94    | 0.25%             | 2030-09-15      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| Williams Scotsman Inc                                                                                                         | Williams Scotsman Inc 6.63 06/15/2029                                                           | CUSIP: 96949VAM5<br>LEI: 549300DAKDS8SCO1OT57 | Long             | DBT              | CORP              | US        |    885000 | PA      | $903232.77    | 0.49%             | 2029-06-15      | Fixed         | 6.62%                 | No            |                  2 | On Loan: No      |
| Windfall Mining Group Inc / Groupe Minier Windfall Inc                                                                        | Windfall Mining Group Inc / Groupe Minier Windfall Inc 5.85 05/13/2032                          | CUSIP: 973244AA4<br>LEI: 984500E4L49391BFF948 | Long             | DBT              | CORP              | CA        |    218000 | PA      | $217975.80    | 0.12%             | 2032-05-13      | Fixed         | 5.85%                 | No            |                  2 | On Loan: No      |
| Wynn Las Vegas LLC / Wynn Las Vegas Capital Corp                                                                              | Wynn Las Vegas LLC / Wynn Las Vegas Capital Corp 5.25 05/15/2027                                | CUSIP: 983130AX3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    575000 | PA      | $572761.76    | 0.31%             | 2027-05-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Yinson Boronia Production BV                                                                                                  | Yinson Boronia Production BV 8.95 07/31/2042                                                    | CUSIP: 98584XAA3<br>LEI: 5493007X12FTT746N678 | Long             | DBT              | CORP              | NL        |    376648 | PA      | $392659.72    | 0.21%             | 2042-07-31      | Fixed         | 8.95%                 | No            |                  2 | On Loan: No      |
| ZF North America Capital Inc                                                                                                  | ZF North America Capital Inc 6.88 04/23/2032                                                    | CUSIP: 98877DAG0<br>LEI: 529900JYGMS9CW9IQX78 | Long             | DBT              | CORP              | US        |    440000 | PA      | $403974.73    | 0.22%             | 2032-04-23      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| Zions Bancorp NA                                                                                                              | Zions Bancorp NA 6.82 11/19/2035                                                                | CUSIP: 98971DAC4<br>LEI: 8WH0EE09O9V05QJZ3V89 | Long             | DBT              | CORP              | US        |    250000 | PA      | $252142.66    | 0.14%             | 2035-11-19      | Variable      | 6.82%                 | No            |                  2 | On Loan: No      |
| UBS Group AG                                                                                                                  | UBS Group AG (pfd) 5.13% 07/29/2173 Perpetual                                                   | CUSIP: H42097BR7<br>LEI: 549300SZJ9VS8SGXAN81 | Long             | EP               | CORP              | CH        |   1072000 | NS      | $1064342.15   | 0.57%             |  |  |  | No            |                  2 | On Loan: No      |
| Latam Airlines Group SA                                                                                                       | Latam Airlines Group SA 7.88 04/15/2030                                                         | CUSIP: 51817RAD8<br>LEI: 549300HX3UUDPEFTG707 | Long             | DBT              | CORP              | CL        |    281000 | PA      | $282475.25    | 0.15%             | 2030-04-15      | Fixed         | 7.88%                 | No            |                  2 | On Loan: —       |
| Life 2021-BMR Mortgage Trust                                                                                                  | Life 2021-BMR Mortgage Trust 5.84                                                               | CUSIP: 53218CAG5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    420700 | PA      | $417224.81    | 0.23%             | 2038-03-15      | Floating      | 5.84%                 | No            |                  2 | On Loan: No      |
| Lloyds Banking Group PLC                                                                                                      | Lloyds Banking Group PLC (pfd) 7.50% 12/27/2173 Perpetual                                       | CUSIP: 539439AU3<br>LEI: 549300PPXHEU2JF0AM85 | Long             | EP               | CORP              | GB        |    830000 | NS      | $833861.99    | 0.45%             |  |  |  | No            |                  2 | On Loan: No      |
| Lyra Music Assets Delaware LP                                                                                                 | Lyra Music Assets Delaware LP 5.76                                                              | CUSIP: 552339AA1<br>LEI: 9845007N9EAB0C048A12 | Long             | ABS-MBS          | CORP              | US        |    691008 | PA      | $682291.32    | 0.37%             | 2064-12-22      | Fixed         | 5.76%                 | No            |                  2 | On Loan: No      |
| Danske Bank A/S                                                                                                               | Danske Bank A/S (pfd) 4.38% 11/18/2173 Perpetual                                                | CUSIP: K2227DL59<br>LEI: MAES062Z21O4RZ2U7M96 | Long             | EP               | CORP              | DK        |   1029000 | NS      | $1012033.08   | 0.55%             |  |  |  | No            |                  2 | On Loan: No      |
| CBOT 5 Year US Treasury Note                                                                                                  | US 5YR NOTE (CBT) Sep25                                                                         | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              | UST               | US        |       330 | NC      | $112699.77    | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| CBOT 10 Year US Treasury Note                                                                                                 | US 10YR NOTE (CBT)Sep25                                                                         | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              | UST               | US        |        97 | NC      | $26771.29     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| CME Ultra Long Term US Treasury                                                                                               | US ULTRA BOND CBT Sep25                                                                         | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              | UST               | US        |        -2 | NC      | $-1316.40     | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| CBOT US Long Bond Future                                                                                                      | US LONG BOND(CBT) Sep25                                                                         | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              | UST               | US        |       -25 | NC      | $-16259.75    | -0.01%            |  |  |  | No            |                  1 | On Loan: No      |
| CBOT 10 Year Ultra US Treasury Note                                                                                           | US 10yr Ultra Fut Sep25                                                                         | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              | UST               | US        |       100 | NC      | $31055.00     | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| M&T Bank Corp                                                                                                                 | M&T Bank Corp (pfd) 5.13% 05/01/2174 Perpetual                                                  | CUSIP: 55261FAH7<br>LEI: 549300WYXDDBYRASEG81 | Long             | EP               | CORP              | US        |     34000 | NS      | $33602.25     | 0.02%             |  |  |  | No            |                  2 | On Loan: —       |
| MFA 2024-NQM1 Trust                                                                                                           | MFA 2024-NQM1 Trust 6.83                                                                        | CUSIP: 55286VAB6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    312837 | PA      | $316392.43    | 0.17%             | 2069-03-25      | Variable      | 6.83%                 | No            |                  2 | On Loan: No      |
| CBOT 2 Year US Treasury Note                                                                                                  | US 2YR NOTE (CBT) Sep25                                                                         | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              | UST               | US        |       112 | NC      | $33031.71     | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Skandinaviska Enskilda Banken AB                                                                                              | Skandinaviska Enskilda Banken AB (pfd) 6.88% 12/30/2173 Perpetual                               | CUSIP: W8T54FK56<br>LEI: F3JS33DEI6XQ4ZBPTN86 | Long             | EP               | CORP              | SE        |    800000 | NS      | $816000.00    | 0.44%             |  |  |  | No            |                  2 | On Loan: No      |
| MPT Operating Partnership LP / MPT Finance Corp                                                                               | MPT Operating Partnership LP / MPT Finance Corp 8.50 02/15/2032                                 | CUSIP: 55342UAQ7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    630000 | PA      | $646240.77    | 0.35%             | 2032-02-15      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| MACH 1 Cayman 2019-1 Ltd                                                                                                      | MACH 1 Cayman 2019-1 Ltd 3.47                                                                   | CUSIP: 55446MAA5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    145936 | PA      | $140574.54    | 0.08%             | 2039-10-15      | Fixed         | 3.47%                 | No            |                  2 | On Loan: No      |
| UBS Group AG                                                                                                                  | UBS Group AG (pfd) 6.88% 08/07/2173 Perpetual                                                   | CUSIP: H4209UAN6<br>LEI: 549300SZJ9VS8SGXAN81 | Long             | EP               | CORP              | CH        |    440000 | NS      | $440593.45    | 0.24%             |  |  |  | No            |                  2 | On Loan: No      |
| Macy's Retail Holdings LLC                                                                                                    | Macy's Retail Holdings LLC 6.13 03/15/2032                                                      | CUSIP: 55617LAR3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    290000 | PA      | $269075.62    | 0.15%             | 2032-03-15      | Fixed         | 6.12%                 | No            |                  2 | On Loan: No      |
| Magallanes Inc                                                                                                                | Warnermedia Holdings Inc 3.76 03/15/2027                                                        | CUSIP: 55903VBA0<br>LEI: 549300DXR29GD4N0A520 | Long             | DBT              | CORP              | US        |    495000 | PA      | $479961.57    | 0.26%             | 2027-03-15      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| Magnetite CLO Ltd                                                                                                             | Magnetite XXVIII Ltd 6.01                                                                       | CUSIP: 55955LAY8<br>LEI: 54930077HHZ1QV5CPQ30 | Long             | ABS-CBDO         | CORP              | US        |    475000 | PA      | $475546.20    | 0.26%             | 2038-01-15      | Floating      | 6.01%                 | No            |                  2 | On Loan: No      |
| Magnetite CLO Ltd                                                                                                             | Magnetite Xli Ltd 6.09                                                                          | CUSIP: 55956AAC9<br>LEI: 529900IDXPZZY6034K03 | Long             | ABS-CBDO         | CORP              | US        |    250000 | PA      | $250261.40    | 0.14%             | 2038-01-25      | Floating      | 6.09%                 | No            |                  2 | On Loan: No      |
| Masterbrand Inc                                                                                                               | Masterbrand Inc 7.00 07/15/2032                                                                 | CUSIP: 57638PAA2<br>LEI: 549300E0Y4BR5Z9RDZ64 | Long             | DBT              | CORP              | US        |    410000 | PA      | $408251.97    | 0.22%             | 2032-07-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| Matador Resources Co                                                                                                          | Matador Resources Co 6.50 04/15/2032                                                            | CUSIP: 576485AG1<br>LEI: 549300CI3Q2UUK5R4G79 | Long             | DBT              | CORP              | US        |    339000 | PA      | $332232.34    | 0.18%             | 2032-04-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Medline Borrower LP/Medline Co-Issuer Inc                                                                                     | Medline Borrower LP/Medline Co-Issuer Inc 6.25 04/01/2029                                       | CUSIP: 58506DAA6<br>LEI: 254900QT3R363TVK6F09 | Long             | DBT              | CORP              | US        |    895000 | PA      | $911838.39    | 0.49%             | 2029-04-01      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| Meritage Homes Corp                                                                                                           | Meritage Homes Corp 5.65 03/15/2035                                                             | CUSIP: 59001ABG6<br>LEI: 52990044W9UMFJO2FB97 | Long             | DBT              | CORP              | US        |    249000 | PA      | $243339.68    | 0.13%             | 2035-03-15      | Fixed         | 5.65%                 | No            |                  2 | On Loan: No      |
| Minerva Luxembourg SA                                                                                                         | Minerva Luxembourg SA 8.88 09/13/2033                                                           | CUSIP: 603374AH2<br>LEI: 222100NM3G3RCPGZ2Z17 | Long             | DBT              | CORP              | LU        |    485000 | PA      | $520957.42    | 0.28%             | 2033-09-13      | Fixed         | 8.88%                 | No            |                  2 | On Loan: No      |
| Morgan Stanley Capital I Trust 2018-H3                                                                                        | Morgan Stanley Capital I Trust 2018-H3 3.00                                                     | CUSIP: 61767YAC4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    138000 | PA      | $114506.47    | 0.06%             | 2051-07-15      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| NMI Holdings Inc                                                                                                              | NMI Holdings Inc 6.00 08/15/2029                                                                | CUSIP: 629209AC1<br>LEI: 529900KNNGFXJX1C3Z08 | Long             | DBT              | CORP              | US        |    523000 | PA      | $531459.65    | 0.29%             | 2029-08-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Sunoco LP                                                                                                                     | Sunoco LP 7.00 05/01/2029                                                                       | CUSIP: 86765KAB5<br>LEI: 54930001NJU8E40NQ561 | Long             | DBT              | CORP              | US        |    223000 | PA      | $230289.42    | 0.12%             | 2029-05-01      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| Surgery Center Holdings Inc                                                                                                   | Surgery Center Holdings Inc 7.25 04/15/2032                                                     | CUSIP: 86881WAF9<br>LEI: 54930054EVI5HWPPW113 | Long             | DBT              | CORP              | US        |    717000 | PA      | $716512.58    | 0.39%             | 2032-04-15      | Fixed         | 7.25%                 | No            |                  2 | On Loan: —       |
| THPT 2023-THL Mortgage Trust                                                                                                  | THPT 2023-THL Mortgage Trust 7.67                                                               | CUSIP: 87252LAE5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    250000 | PA      | $252455.45    | 0.14%             | 2034-12-10      | Variable      | 7.67%                 | No            |                  2 | On Loan: No      |
| TRTX 2021-FL4 Issuer Ltd                                                                                                      | TRTX 2021-FL4 Issuer Ltd 5.64                                                                   | CUSIP: 87276WAA1<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |    359267 | PA      | $358179.31    | 0.19%             | 2038-03-15      | Floating      | 5.64%                 | No            |                  2 | On Loan: No      |
| TEGNA Inc                                                                                                                     | TEGNA Inc 4.75 03/15/2026                                                                       | CUSIP: 87901JAF2<br>LEI: 549300YC5EDBGX85AO10 | Long             | DBT              | CORP              | US        |    719000 | PA      | $715082.53    | 0.39%             | 2026-03-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| 3R Lux SARL                                                                                                                   | 3R Lux SARL 9.75 02/05/2031                                                                     | CUSIP: 88563PAA6<br>LEI: N/A                  | Long             | DBT              | CORP              | LU        |    570000 | PA      | $561877.50    | 0.30%             | 2031-02-05      | Fixed         | 9.75%                 | No            |                  2 | On Loan: No      |
| Warner Media LLC                                                                                                              | Warner Media LLC 3.80 02/15/2027                                                                | CUSIP: 887317BB0<br>LEI: 5493004RSX004WU3UT62 | Long             | DBT              | CORP              | US        |    264000 | PA      | $254316.39    | 0.14%             | 2027-02-15      | Fixed         | 3.80%                 | No            |                  2 | On Loan: No      |
| TopBuild Corp                                                                                                                 | TopBuild Corp 3.63 03/15/2029                                                                   | CUSIP: 89055FAB9<br>LEI: 5493007YSKHOL4RWII46 | Long             | DBT              | CORP              | US        |    520000 | PA      | $487214.26    | 0.26%             | 2029-03-15      | Fixed         | 3.62%                 | No            |                  2 | On Loan: No      |
| Toronto-Dominion Bank/The                                                                                                     | Toronto-Dominion Bank/The 8.13 10/31/2082                                                       | CUSIP: 89117F8Z5<br>LEI: PT3QB789TSUIDF371261 | Long             | DBT              | CORP              | CA        |    810000 | PA      | $850363.11    | 0.46%             | 2082-10-31      | Variable      | 8.12%                 | No            |                  2 | On Loan: No      |
| TransDigm Inc                                                                                                                 | TransDigm Inc 4.63 01/15/2029                                                                   | CUSIP: 893647BP1<br>LEI: 88Q84GB3X55CF5OC7582 | Long             | DBT              | CORP              | US        |    930000 | PA      | $901388.27    | 0.49%             | 2029-01-15      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| Triangle Re 2023-1 Ltd                                                                                                        | Triangle Re 2023-1 Ltd 7.72                                                                     | CUSIP: 89589AAA7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    226228 | PA      | $228973.18    | 0.12%             | 2033-11-25      | Floating      | 7.72%                 | No            |                  2 | On Loan: No      |
| Trident Energy Finance PLC                                                                                                    | Trident Energy Finance PLC 12.50 11/30/2029                                                     | CUSIP: 89616MAB6<br>LEI: 9845004ECK3FYO64I382 | Long             | DBT              | CORP              | GB        |    450000 | PA      | $438321.51    | 0.24%             | 2029-11-30      | Fixed         | 12.50%                | No            |                  2 | On Loan: No      |
| Trimaran CAVU LLC                                                                                                             | Trimaran Cavu 2019-1 Ltd 6.22                                                                   | CUSIP: 89624CDL3<br>LEI: 549300IGMQ24BLOIU872 | Long             | ABS-CBDO         | CORP              | US        |    800000 | PA      | $801416.64    | 0.43%             | 2037-01-20      | Floating      | 6.22%                 | No            |                  2 | On Loan: No      |
| Trust Fibra Uno                                                                                                               | Trust Fibra Uno 4.87 01/15/2030                                                                 | CUSIP: 898339AA4<br>LEI: N/A                  | Long             | DBT              | CORP              | MX        |    284000 | PA      | $265823.80    | 0.14%             | 2030-01-15      | Fixed         | 4.87%                 | No            |                  2 | On Loan: No      |
| Trust Fibra Uno                                                                                                               | Trust Fibra Uno 7.70 01/23/2032                                                                 | CUSIP: 89834JAB9<br>LEI: N/A                  | Long             | DBT              | CORP              | MX        |    203000 | PA      | $207747.43    | 0.11%             | 2032-01-23      | Fixed         | 7.70%                 | No            |                  2 | On Loan: —       |
| Citigroup Inc                                                                                                                 | Citigroup Inc (pfd) 3.88% 05/18/2174 Perpetual                                                  | CUSIP: 172967MV0<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | EP               | CORP              | US        |    245000 | NS      | $240634.17    | 0.13%             |  |  |  | No            |                  2 | On Loan: No      |
| Citigroup Mortgage Loan Trust 2024-CMI1                                                                                       | Citigroup Mortgage Loan Trust 2024-CMI1 5.50                                                    | CUSIP: 17332DAL8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    723882 | PA      | $721641.18    | 0.39%             | 2054-06-25      | Variable      | 5.50%                 | No            |                  2 | On Loan: No      |
| Citizens Financial Group Inc                                                                                                  | Citizens Financial Group Inc (pfd) 5.65% 10/06/2173 Perpetual                                   | CUSIP: 174610AU9<br>LEI: 2138004JDDA4ZQUPFW65 | Long             | EP               | CORP              | US        |    650000 | NS      | $650082.68    | 0.35%             |  |  |  | No            |                  2 | On Loan: No      |
| Cleveland-Cliffs Inc                                                                                                          | Cleveland-Cliffs Inc 7.38 05/01/2033                                                            | CUSIP: 185899AR2<br>LEI: 549300TM2WLI2BJMDD86 | Long             | DBT              | CORP              | US        |    414000 | PA      | $356009.72    | 0.19%             | 2033-05-01      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| Cleveland-Cliffs Inc                                                                                                          | Cleveland-Cliffs Inc 7.50 09/15/2031                                                            | CUSIP: 185899AS0<br>LEI: 549300TM2WLI2BJMDD86 | Long             | DBT              | CORP              | US        |    196000 | PA      | $176446.18    | 0.10%             | 2031-09-15      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| Cologix Canadian Issuer LP                                                                                                    | Cologix Canadian Issuer LP 7.74                                                                 | CUSIP: 19521DAN1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | CA        |    350000 | PA      | $247194.59    | 0.13%             | 2052-01-25      | Fixed         | 7.74%                 | No            |                  2 | On Loan: No      |
| Cologix Data Centers US Issuer LLC                                                                                            | Cologix Data Centers US Issuer LLC 3.30                                                         | CUSIP: 19521UAA1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    775000 | PA      | $745484.75    | 0.40%             | 2051-12-26      | Fixed         | 3.30%                 | No            |                  2 | On Loan: No      |
| Colombia Government International Bond                                                                                        | Colombia Government International Bond 7.75 11/07/2036                                          | CUSIP: 195325EP6<br>LEI: 549300MHDRBVRF6B9117 | Long             | DBT              | NUSS              | CO        |    200000 | PA      | $194300.00    | 0.10%             | 2036-11-07      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| Colombia Government International Bond                                                                                        | Colombia Government International Bond 8.50 04/25/2035                                          | CUSIP: 195325ES0<br>LEI: 549300MHDRBVRF6B9117 | Long             | DBT              | NUSS              | CO        |    200000 | PA      | $206900.00    | 0.11%             | 2035-04-25      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| Comerica Inc                                                                                                                  | Comerica Inc (pfd) 5.63% 10/01/2173 Perpetual                                                   | CUSIP: 200340AU1<br>LEI: I9Q57JVPWHHZ3ZGBW498 | Long             | EP               | CORP              | US        |    405000 | NS      | $405274.43    | 0.22%             |  |  |  | No            |                  2 | On Loan: No      |
| Comerica Inc                                                                                                                  | Comerica Inc 5.98 01/30/2030                                                                    | CUSIP: 200340AW7<br>LEI: I9Q57JVPWHHZ3ZGBW498 | Long             | DBT              | CORP              | US        |    545000 | PA      | $554067.85    | 0.30%             | 2030-01-30      | Variable      | 5.98%                 | No            |                  2 | On Loan: No      |
| Comision Federal de Electricidad                                                                                              | Comision Federal de Electricidad 6.45 01/24/2035                                                | CUSIP: 200447AP5<br>LEI: 4469000001BFPONMPF32 | Long             | DBT              | CORP              | MX        |    490000 | PA      | $471812.38    | 0.25%             | 2035-01-24      | Fixed         | 6.45%                 | No            |                  2 | On Loan: No      |
| Connecticut Avenue Securities Trust 2022-R09                                                                                  | Connecticut Avenue Securities Trust 2022-R09 6.82                                               | CUSIP: 20753DAA6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    188402 | PA      | $191383.75    | 0.10%             | 2042-09-25      | Floating      | 6.82%                 | No            |                  2 | On Loan: No      |
| Connecticut Avenue Securities Trust 2024-R01                                                                                  | Connecticut Avenue Securities Trust 2024-R01 5.37                                               | CUSIP: 20753UAA8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    585491 | PA      | $585929.56    | 0.32%             | 2044-01-25      | Floating      | 5.37%                 | No            |                  2 | On Loan: No      |
| Connecticut Avenue Securities Trust 2022-R03                                                                                  | Connecticut Avenue Securities Trust 2022-R03 6.42                                               | CUSIP: 20753XAA2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    131081 | PA      | $133285.94    | 0.07%             | 2042-03-25      | Floating      | 6.42%                 | No            |                  2 | On Loan: No      |
| CoreWeave Inc                                                                                                                 | CoreWeave Inc 9.25 06/01/2030                                                                   | CUSIP: 21873SAB4<br>LEI: 984500511DP2B6186053 | Long             | DBT              | CORP              | US        |    460000 | PA      | $459888.72    | 0.25%             | 2030-06-01      | Fixed         | 9.25%                 | No            |                  2 | On Loan: No      |
| Ginnie Mae                                                                                                                    | G2SF 2.5 6/25 MBS 30yr                                                                          | CUSIP: 21H022663<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   2387000 | PA      | $2000107.93   | 1.08%             | 2051-11-20      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| Credit Agricole SA                                                                                                            | Credit Agricole SA (pfd) 8.13% 03/23/2174 Perpetual                                             | CUSIP: 225313AJ4<br>LEI: 969500TJ5KRTCJQWXH05 | Long             | EP               | CORP              | FR        |    965000 | NS      | $979156.55    | 0.53%             |  |  |  | No            |                  2 | On Loan: No      |
| CSAIL 2019-C15 Commercial Mortgage Trust                                                                                      | CSAIL 2019-C15 Commercial Mortgage Trust 3.00                                                   | CUSIP: 22945DAY9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    301000 | PA      | $238110.96    | 0.13%             | 2052-03-15      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| LPL Holdings Inc                                                                                                              | LPL Holdings Inc 5.15 06/15/2030                                                                | CUSIP: 50212YAP9<br>LEI: 549300Z5YF8CCRMYUL26 | Long             | DBT              | CORP              | US        |    370000 | PA      | $370978.96    | 0.20%             | 2030-06-15      | Fixed         | 5.15%                 | No            |                  2 | On Loan: No      |
| Ares Strategic Income Fund                                                                                                    | Ares Strategic Income Fund 5.70 03/15/2028                                                      | CUSIP: 04020EAG2<br>LEI: 549300IANZJVZPTICV54 | Long             | DBT              | CORP              | US        |    248000 | PA      | $248469.70    | 0.13%             | 2028-03-15      | Fixed         | 5.70%                 | No            |                  2 | On Loan: No      |
| Australia & New Zealand Banking Group Ltd/United Kingdom                                                                      | Australia & New Zealand Banking Group Ltd/United Kingdom (pfd) 6.75% 12/15/2173 Perpetual       | CUSIP: 05254HAA2<br>LEI: JHE42UYNWWTJB8YTTU19 | Long             | EP               | CORP              | GB        |    709000 | NS      | $715461.83    | 0.39%             |  |  |  | No            |                  2 | On Loan: No      |
| Avolon Holdings Funding Ltd                                                                                                   | Avolon Holdings Funding Ltd 6.38 05/04/2028                                                     | CUSIP: 05401AAS0<br>LEI: 635400ZRKEX9L1BKCH30 | Long             | DBT              | CORP              | IE        |    110000 | PA      | $113904.11    | 0.06%             | 2028-05-04      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| Avolon Holdings Funding Ltd                                                                                                   | Avolon Holdings Funding Ltd 5.15 01/15/2030                                                     | CUSIP: 05401AAX9<br>LEI: 635400ZRKEX9L1BKCH30 | Long             | DBT              | CORP              | IE        |     57000 | PA      | $56827.02     | 0.03%             | 2030-01-15      | Fixed         | 5.15%                 | No            |                  2 | On Loan: No      |
| Axon Enterprise Inc                                                                                                           | Axon Enterprise Inc 6.13 03/15/2030                                                             | CUSIP: 05464CAC5<br>LEI: 549300QP2IEEGFE16681 | Long             | DBT              | CORP              | US        |     56000 | PA      | $57254.41     | 0.03%             | 2030-03-15      | Fixed         | 6.12%                 | No            |                  2 | On Loan: No      |
| Axon Enterprise Inc                                                                                                           | Axon Enterprise Inc 6.25 03/15/2033                                                             | CUSIP: 05464CAD3<br>LEI: 549300QP2IEEGFE16681 | Long             | DBT              | CORP              | US        |     32000 | PA      | $32546.50     | 0.02%             | 2033-03-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| BNP Paribas SA                                                                                                                | BNP Paribas SA (pfd) 4.63% 07/12/2173 Perpetual                                                 | CUSIP: 05565AB28<br>LEI: R0MUWSFPU8MPRO8K5P83 | Long             | EP               | CORP              | FR        |    850000 | NS      | $816956.68    | 0.44%             |  |  |  | No            |                  2 | On Loan: No      |
| Ladder Capital Finance Holdings LLLP / Ladder Capital Finance Corp                                                            | Ladder Capital Finance Holdings LLLP / Ladder Capital Finance Corp 4.75 06/15/2029              | CUSIP: 505742AP1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    372000 | PA      | $360596.79    | 0.19%             | 2029-06-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| Ladder Capital Finance Holdings LLLP / Ladder Capital Finance Corp                                                            | Ladder Capital Finance Holdings LLLP / Ladder Capital Finance Corp 7.00 07/15/2031              | CUSIP: 505742AR7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    760000 | PA      | $788633.00    | 0.43%             | 2031-07-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| Lamar Media Corp                                                                                                              | Lamar Media Corp 3.75 02/15/2028                                                                | CUSIP: 513075BR1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    960000 | PA      | $929437.82    | 0.50%             | 2028-02-15      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| BPCE SA                                                                                                                       | BPCE SA 7.00 10/19/2034                                                                         | CUSIP: 05571AAS4<br>LEI: 9695005MSX1OYEMGDF46 | Long             | DBT              | CORP              | FR        |    425000 | PA      | $460561.48    | 0.25%             | 2034-10-19      | Variable      | 7.00%                 | No            |                  2 | On Loan: No      |
| BX Commercial Mortgage Trust 2022-CSMO                                                                                        | BX Commercial Mortgage Trust 2022-CSMO 6.44                                                     | CUSIP: 05610MAA0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    207000 | PA      | $207934.27    | 0.11%             | 2027-06-15      | Floating      | 6.44%                 | No            |                  2 | On Loan: No      |
| BSPRT 2017-FL1 Co-Issuer LLC                                                                                                  | BSPRT 2023-FL10 Issuer Ltd 6.59                                                                 | CUSIP: 05610VAA0<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |    427782 | PA      | $428426.65    | 0.23%             | 2035-09-15      | Floating      | 6.59%                 | No            |                  2 | On Loan: No      |
| Bain Capital Specialty Finance Inc                                                                                            | Bain Capital Specialty Finance Inc 5.95 03/15/2030                                              | CUSIP: 05684BAD9<br>LEI: 549300V2JL72R0EYBK64 | Long             | DBT              | CORP              | US        |    487000 | PA      | $480320.27    | 0.26%             | 2030-03-15      | Fixed         | 5.95%                 | No            |                  2 | On Loan: No      |
| Banco Bilbao Vizcaya Argentaria SA                                                                                            | Banco Bilbao Vizcaya Argentaria SA (pfd) 6.13% 02/16/2174 Perpetual                             | CUSIP: 05946KAF8<br>LEI: K8MS7FD7N5Z2WQ51AZ71 | Long             | EP               | CORP              | ES        |    800000 | NS      | $771723.26    | 0.42%             |  |  |  | No            |                  2 | On Loan: No      |
| Banco Santander SA                                                                                                            | Banco Santander SA (pfd) 4.75% 08/12/2173 Perpetual                                             | CUSIP: 05971KAH2<br>LEI: 5493006QMFDDMYWIAM13 | Long             | EP               | CORP              | ES        |    800000 | NS      | $768256.40    | 0.41%             |  |  |  | No            |                  2 | On Loan: No      |
| Banco Mercantil del Norte SA/Grand Cayman                                                                                     | Banco Mercantil del Norte SA/Grand Cayman (pfd) 8.38% 10/14/2173 Perpetual                      | CUSIP: 05971PAC2<br>LEI: 549300QTVYRPFHS0J362 | Long             | EP               | CORP              | KY        |    640000 | NS      | $658664.32    | 0.36%             |  |  |  | No            |                  2 | On Loan: No      |
| FIEMEX Energia - Banco Actinver SA Institucion de Banca Multiple                                                              | FIEMEX Energia - Banco Actinver SA Institucion de Banca Multiple 7.25 01/31/2041                | CUSIP: 05974EAA8<br>LEI: N/A                  | Long             | DBT              | CORP              | MX        |    397700 | PA      | $393126.58    | 0.21%             | 2041-01-31      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| BANK 2018-BNK15                                                                                                               | BANK 2018-BNK15 3.00                                                                            | CUSIP: 06036FAJ0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    145000 | PA      | $118720.94    | 0.06%             | 2061-11-15      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Bank of Montreal                                                                                                              | Bank of Montreal 7.70 05/26/2084                                                                | CUSIP: 06368LQ58<br>LEI: NQQ6HPCNCCU6TUTQYE16 | Long             | DBT              | CORP              | CA        |    585000 | PA      | $604856.07    | 0.33%             | 2084-05-26      | Variable      | 7.70%                 | No            |                  2 | On Loan: No      |
| Bank of Nova Scotia/The                                                                                                       | Bank of Nova Scotia/The 3.63 10/27/2081                                                         | CUSIP: 0641598N9<br>LEI: L3I9ZG2KFGXZ61BMYR72 | Long             | DBT              | CORP              | CA        |    350000 | PA      | $324182.88    | 0.17%             | 2081-10-27      | Variable      | 3.62%                 | No            |                  2 | On Loan: No      |
| Bank of Nova Scotia/The                                                                                                       | Bank of Nova Scotia/The 8.63 10/27/2082                                                         | CUSIP: 0641598S8<br>LEI: L3I9ZG2KFGXZ61BMYR72 | Long             | DBT              | CORP              | CA        |    200000 | PA      | $211204.80    | 0.11%             | 2082-10-27      | Variable      | 8.62%                 | No            |                  2 | On Loan: No      |
| AES Andes SA                                                                                                                  | AES Andes SA 6.25 03/14/2032                                                                    | CUSIP: 00111VAD9<br>LEI: 549300IF4IFG0FS0RM26 | Long             | DBT              | CORP              | CL        |    200000 | PA      | $201145.60    | 0.11%             | 2032-03-14      | Fixed         | 6.25%                 | No            |                  2 | On Loan: —       |
| AES Corp/The                                                                                                                  | AES Corp/The 6.95 07/15/2055                                                                    | CUSIP: 00130HCL7<br>LEI: 2NUNNB7D43COUIRE5295 | Long             | DBT              | CORP              | US        |    207000 | PA      | $196911.36    | 0.11%             | 2055-07-15      | Variable      | 6.95%                 | No            |                  2 | On Loan: No      |
| American Airlines Inc/AAdvantage Loyalty IP Ltd                                                                               | American Airlines Inc/AAdvantage Loyalty IP Ltd 5.50 04/20/2026                                 | CUSIP: 00253XAA9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2298392 | PA      | $2295901.32   | 1.24%             | 2026-04-20      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Acadia Healthcare Co Inc                                                                                                      | Acadia Healthcare Co Inc 7.38 03/15/2033                                                        | CUSIP: 00404AAQ2<br>LEI: 5493005CW985Y9D0NC11 | Long             | DBT              | CORP              | US        |    745000 | PA      | $760045.28    | 0.41%             | 2033-03-15      | Fixed         | 7.38%                 | No            |                  2 | On Loan: —       |
| Air Canada                                                                                                                    | Air Canada 3.88 08/15/2026                                                                      | CUSIP: 008911BK4<br>LEI: 4B4HI3CGXMBDC0G6BM51 | Long             | DBT              | CORP              | CA        |    945000 | PA      | $933670.30    | 0.50%             | 2026-08-15      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| Aircastle Ltd                                                                                                                 | Aircastle Ltd (pfd) 5.25% 09/15/2173 Perpetual                                                  | CUSIP: 00928QAW1<br>LEI: 549300PNK8AKY3OIKP58 | Long             | EP               | CORP              | US        |    560000 | NS      | $557492.38    | 0.30%             |  |  |  | No            |                  2 | On Loan: No      |
| Aircastle Ltd / Aircastle Ireland DAC                                                                                         | Aircastle Ltd / Aircastle Ireland DAC 5.75 10/01/2031                                           | CUSIP: 00929JAA4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     12000 | PA      | $12191.46     | 0.01%             | 2031-10-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Albertsons Cos Inc / Safeway Inc / New Albertsons LP / Albertsons LLC                                                         | Albertsons Cos Inc / Safeway Inc / New Albertsons LP / Albertsons LLC 4.63 01/15/2027           | CUSIP: 013092AC5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    575000 | PA      | $569763.82    | 0.31%             | 2027-01-15      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| Aligned Data Centers Issuer LLC                                                                                               | Aligned Data Centers Issuer LLC 2.48                                                            | CUSIP: 01627AAB4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    400000 | PA      | $381830.92    | 0.21%             | 2046-08-15      | Fixed         | 2.48%                 | No            |                  2 | On Loan: No      |
| Bread Financial Holdings Inc                                                                                                  | Bread Financial Holdings Inc 8.38 06/15/2035                                                    | CUSIP: 018581AQ1<br>LEI: 549300G8S4PO686J7H97 | Long             | DBT              | CORP              | US        |    452000 | PA      | $439287.77    | 0.24%             | 2035-06-15      | Variable      | 8.38%                 | No            |                  2 | On Loan: —       |
| Allianz SE                                                                                                                    | Allianz SE (pfd) 3.50% 04/30/2174 Perpetual                                                     | CUSIP: 018820AA8<br>LEI: 529900K9B0N5BT694847 | Long             | EP               | CORP              | DE        |    400000 | NS      | $389661.68    | 0.21%             |  |  |  | No            |                  2 | On Loan: No      |
| AMERICAN AIRLINES INC                                                                                                         | AMERICAN AIRLINES INC 2024 1ST LIEN TERM LOAN B                                                 | CUSIP: 02376CBR5<br>LEI: IWUQB36BXD6OWD6X4T14 | Long             | LON              | CORP              | US        |    475300 | PA      | $470017.04    | 0.25%             | 2028-02-15      | Floating      | 6.58%                 | No            |                  2 | On Loan: No      |
| American Airlines 2017-2 Class B                                                                                              | American Airlines 2017-2 Class B 3.70 04/15/2027                                                | CUSIP: 02377DAA0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    257185 | PA      | $255178.22    | 0.14%             | 2027-04-15      | Fixed         | 3.70%                 | No            |                  2 | On Loan: No      |
| American Assets Trust LP                                                                                                      | American Assets Trust LP 3.38 02/01/2031                                                        | CUSIP: 02401LAA2<br>LEI: 549300V1TI0SMG9Z6U69 | Long             | DBT              | CORP              | US        |    630000 | PA      | $551499.15    | 0.30%             | 2031-02-01      | Fixed         | 3.38%                 | No            |                  2 | On Loan: No      |
| American Express Co                                                                                                           | American Express Co (pfd) 3.55% 09/15/2173 Perpetual                                            | CUSIP: 025816CH0<br>LEI: R4PP93JZOLY261QX3811 | Long             | EP               | CORP              | US        |    450000 | NS      | $436299.08    | 0.24%             |  |  |  | No            |                  2 | On Loan: No      |
| American Express Co                                                                                                           | American Express Co 4.73 04/25/2029                                                             | CUSIP: 025816ED7<br>LEI: R4PP93JZOLY261QX3811 | Long             | DBT              | CORP              | US        |    350000 | PA      | $352024.59    | 0.19%             | 2029-04-25      | Variable      | 4.73%                 | No            |                  2 | On Loan: No      |
| American International Group Inc                                                                                              | American International Group Inc 4.85 05/07/2030                                                | CUSIP: 026874DW4<br>LEI: ODVCVCQG2BP6VHV36M30 | Long             | DBT              | CORP              | US        |    232000 | PA      | $233033.46    | 0.13%             | 2030-05-07      | Fixed         | 4.85%                 | No            |                  2 | On Loan: No      |
| AmeriGas Partners LP / AmeriGas Finance Corp                                                                                  | AmeriGas Partners LP / AmeriGas Finance Corp 9.50 06/01/2030                                    | CUSIP: 030981AP9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    153000 | PA      | $154640.54    | 0.08%             | 2030-06-01      | Fixed         | 9.50%                 | No            |                  2 | On Loan: No      |
| Angel Oak Mortgage Trust 2020-5                                                                                               | Angel Oak Mortgage Trust 2020-5 1.58                                                            | CUSIP: 03464WAB8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    262685 | PA      | $252220.55    | 0.14%             | 2065-05-25      | Variable      | 1.58%                 | No            |                  2 | On Loan: No      |
| Angel Oak Mortgage Trust 2020-2                                                                                               | Angel Oak Mortgage Trust 2020-2 3.86                                                            | CUSIP: 03464XAB6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    140046 | PA      | $135492.31    | 0.07%             | 2065-01-26      | Variable      | 3.86%                 | No            |                  2 | On Loan: No      |
| Angel Oak Mortgage Trust 2021-5                                                                                               | Angel Oak Mortgage Trust 2021-5 0.95                                                            | CUSIP: 03465HAA2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    395700 | PA      | $338787.29    | 0.18%             | 2066-07-25      | Variable      | 0.95%                 | No            |                  2 | On Loan: No      |
| Antares Holdings LP                                                                                                           | Antares Holdings LP 7.95 08/11/2028                                                             | CUSIP: 03666HAF8<br>LEI: 5493008EAIGV4283RM42 | Long             | DBT              | CORP              | CA        |    430000 | PA      | $451155.82    | 0.24%             | 2028-08-11      | Fixed         | 7.95%                 | No            |                  2 | On Loan: No      |
| AppLovin Corp                                                                                                                 | AppLovin Corp 5.38 12/01/2031                                                                   | CUSIP: 03831WAC2<br>LEI: 549300LLVXMUAOL3SQ07 | Long             | DBT              | CORP              | US        |    435000 | PA      | $439196.90    | 0.24%             | 2031-12-01      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| Aptiv Swiss Holdings Ltd                                                                                                      | Aptiv Swiss Holdings Ltd 6.88 12/15/2054                                                        | CUSIP: 03837AAD2<br>LEI: N/A                  | Long             | DBT              | CORP              | CH        |    299000 | PA      | $293594.35    | 0.16%             | 2054-12-15      | Variable      | 6.88%                 | No            |                  2 | On Loan: No      |
| Egypt Government International Bond                                                                                           | Egypt Government International Bond 7.30 09/30/2033                                             | CUSIP: 03846JAE0<br>LEI: 529900GFIVH4086NMH82 | Long             | DBT              | NUSS              | EG        |    800000 | PA      | $683485.54    | 0.37%             | 2033-09-30      | Fixed         | 7.30%                 | No            |                  2 | On Loan: No      |
| Arbor Realty Trust Inc                                                                                                        | Arbor Realty Commercial Real Estate Notes 2021-FL4 Ltd 5.79                                     | CUSIP: 03880RAA7<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |    301287 | PA      | $301375.64    | 0.16%             | 2036-11-15      | Floating      | 5.79%                 | No            |                  2 | On Loan: No      |
| ARES CLO                                                                                                                      | ARES XLVII CLO Ltd 6.27                                                                         | CUSIP: 04016VAG0<br>LEI: 5493001J0ZSE1Y09WE50 | Long             | ABS-CBDO         | CORP              | US        |    500000 | PA      | $501364.10    | 0.27%             | 2030-04-15      | Floating      | 6.27%                 | No            |                  2 | On Loan: No      |
| Ares Strategic Income Fund                                                                                                    | Ares Strategic Income Fund 6.35 08/15/2029                                                      | CUSIP: 04020EAB3<br>LEI: 549300IANZJVZPTICV54 | Long             | DBT              | CORP              | US        |    305000 | PA      | $309280.78    | 0.17%             | 2029-08-15      | Fixed         | 6.35%                 | No            |                  2 | On Loan: No      |
| Bank of Nova Scotia/The                                                                                                       | Bank of Nova Scotia/The (pfd) 4.90% 09/04/2173 Perpetual                                        | CUSIP: 064159VJ2<br>LEI: L3I9ZG2KFGXZ61BMYR72 | Long             | EP               | CORP              | CA        |    236000 | NS      | $236437.80    | 0.13%             |  |  |  | No            |                  2 | On Loan: No      |
| Builders FirstSource Inc                                                                                                      | Builders FirstSource Inc 5.00 03/01/2030                                                        | CUSIP: 12008RAN7<br>LEI: 549300W0SKP6L3H7DP63 | Long             | DBT              | CORP              | US        |    372000 | PA      | $360525.70    | 0.19%             | 2030-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Deluxe Corp                                                                                                                   | Deluxe Corp 8.13 09/15/2029                                                                     | CUSIP: 248019AW1<br>LEI: KWGNKB8TX9LE5TV29231 | Long             | DBT              | CORP              | US        |    898000 | PA      | $908950.21    | 0.49%             | 2029-09-15      | Fixed         | 8.12%                 | No            |                  2 | On Loan: No      |
| Deutsche Bank AG                                                                                                              | Deutsche Bank AG (pfd) 6.00% 04/30/2174 Perpetual                                               | CUSIP: 251525AX9<br>LEI: 7LTWFZYICNSX8D621K86 | Long             | EP               | CORP              | DE        |    800000 | NS      | $797361.52    | 0.43%             |  |  |  | No            |                  2 | On Loan: No      |
| Diamond Issuer LLC                                                                                                            | Diamond Issuer LLC 2.31                                                                         | CUSIP: 25267TAN1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    691000 | PA      | $648811.69    | 0.35%             | 2051-11-20      | Fixed         | 2.31%                 | No            |                  2 | On Loan: No      |
| Dryden Senior Loan Fund                                                                                                       | Dryden 30 Senior Loan Fund 6.29                                                                 | CUSIP: 26249BAU5<br>LEI: 549300AS2O1RYPD2ED41 | Long             | ABS-CBDO         | CORP              | US        |    300000 | PA      | $300960.21    | 0.16%             | 2028-11-15      | Floating      | 6.29%                 | No            |                  2 | On Loan: No      |
| EQT Corp                                                                                                                      | EQT Corp 7.50 06/01/2027                                                                        | CUSIP: 26884LBG3<br>LEI: 4NT01YGM4X7ZX86ISY52 | Long             | DBT              | CORP              | US        |    385000 | PA      | $392278.12    | 0.21%             | 2027-06-01      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| Edison International                                                                                                          | Edison International (pfd) 5.38% 09/15/2173 Perpetual                                           | CUSIP: 281020AS6<br>LEI: 549300I7ROF15MAEVP56 | Long             | EP               | CORP              | US        |    674000 | NS      | $641578.24    | 0.35%             |  |  |  | No            |                  2 | On Loan: No      |
| EFMT 2024-CES1                                                                                                                | EFMT 2024-CES1 5.80                                                                             | CUSIP: 281907AB1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    406000 | PA      | $407856.96    | 0.22%             | 2060-01-26      | Variable      | 5.80%                 | No            |                  2 | On Loan: No      |
| Elmwood CLO Ltd                                                                                                               | Elmwood CLO 24 Ltd 6.03                                                                         | CUSIP: 290020AQ9<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |    450000 | PA      | $450479.57    | 0.24%             | 2038-01-17      | Floating      | 6.03%                 | No            |                  2 | On Loan: No      |
| BX Commercial Mortgage Trust 2020-VIVA                                                                                        | BX Commercial Mortgage Trust 2020-VIVA 3.55                                                     | CUSIP: 12433XAG4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    400000 | PA      | $361151.84    | 0.19%             | 2044-03-11      | Variable      | 3.55%                 | No            |                  2 | On Loan: No      |
| CCO Holdings LLC / CCO Holdings Capital Corp                                                                                  | CCO Holdings LLC / CCO Holdings Capital Corp 5.13 05/01/2027                                    | CUSIP: 1248EPBT9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    640000 | PA      | $633797.44    | 0.34%             | 2027-05-01      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| Empresas Publicas de Medellin ESP                                                                                             | Empresas Publicas de Medellin ESP 4.25 07/18/2029                                               | CUSIP: 29246BAE8<br>LEI: 549300SU25TO8EMXB434 | Long             | DBT              | CORP              | CO        |    405000 | PA      | $371664.65    | 0.20%             | 2029-07-18      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| Encino Acquisition Partners Holdings LLC                                                                                      | Encino Acquisition Partners Holdings LLC 8.50 05/01/2028                                        | CUSIP: 29254BAA5<br>LEI: 549300BUKUEKT2UE4T49 | Long             | DBT              | CORP              | US        |    530000 | PA      | $543976.05    | 0.29%             | 2028-05-01      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| Encino Acquisition Partners Holdings LLC                                                                                      | Encino Acquisition Partners Holdings LLC 8.75 05/01/2031                                        | CUSIP: 29254BAB3<br>LEI: 549300BUKUEKT2UE4T49 | Long             | DBT              | CORP              | US        |    645000 | PA      | $704983.07    | 0.38%             | 2031-05-01      | Fixed         | 8.75%                 | No            |                  2 | On Loan: No      |
| Encore Capital Group Inc                                                                                                      | Encore Capital Group Inc 9.25 04/01/2029                                                        | CUSIP: 292554AQ5<br>LEI: 5493000UVC6H49CIH830 | Long             | DBT              | CORP              | US        |    495000 | PA      | $528412.50    | 0.29%             | 2029-04-01      | Fixed         | 9.25%                 | No            |                  2 | On Loan: No      |
| CCO Holdings LLC / CCO Holdings Capital Corp                                                                                  | CCO Holdings LLC / CCO Holdings Capital Corp 7.38 03/01/2031                                    | CUSIP: 1248EPCT8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    715000 | PA      | $740471.88    | 0.40%             | 2031-03-01      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| CARS-DB4 LP                                                                                                                   | CARS-DB4 LP 4.52                                                                                | CUSIP: 12510HAH3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    100000 | PA      | $96311.82     | 0.05%             | 2050-02-15      | Fixed         | 4.52%                 | No            |                  2 | On Loan: No      |
| CHS/Community Health Systems Inc                                                                                              | CHS/Community Health Systems Inc 4.75 02/15/2031                                                | CUSIP: 12543DBK5<br>LEI: 5493007X5NC5XI1BB106 | Long             | DBT              | CORP              | US        |    820000 | PA      | $702580.16    | 0.38%             | 2031-02-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| CSN Inova Ventures                                                                                                            | CSN Inova Ventures 6.75 01/28/2028                                                              | CUSIP: 12642KAB0<br>LEI: 222100R8R68DM7VM3661 | Long             | DBT              | CORP              | BR        |    718000 | PA      | $680918.03    | 0.37%             | 2028-01-28      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| CSMC 2021-BHAR                                                                                                                | CSMC 2021-BHAR 5.94                                                                             | CUSIP: 12659VAG5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    414000 | PA      | $412878.97    | 0.22%             | 2038-11-15      | Floating      | 5.94%                 | No            |                  2 | On Loan: No      |
| CVS Health Corp                                                                                                               | CVS Health Corp 6.75 12/10/2054                                                                 | CUSIP: 126650EG1<br>LEI: 549300EJG376EN5NQE29 | Long             | DBT              | CORP              | US        |     71000 | PA      | $69288.32     | 0.04%             | 2054-12-10      | Variable      | 6.75%                 | No            |                  2 | On Loan: No      |
| CVS Health Corp                                                                                                               | CVS Health Corp 7.00 03/10/2055                                                                 | CUSIP: 126650EH9<br>LEI: 549300EJG376EN5NQE29 | Long             | DBT              | CORP              | US        |    294000 | PA      | $296871.50    | 0.16%             | 2055-03-10      | Variable      | 7.00%                 | No            |                  2 | On Loan: No      |
| Caesars Entertainment Inc                                                                                                     | Caesars Entertainment Inc 4.63 10/15/2029                                                       | CUSIP: 12769GAA8<br>LEI: 549300FA4CTCW903Y781 | Long             | DBT              | CORP              | US        |    600000 | PA      | $560784.46    | 0.30%             | 2029-10-15      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| Caesars Entertainment Inc                                                                                                     | Caesars Entertainment Inc 7.00 02/15/2030                                                       | CUSIP: 12769GAB6<br>LEI: 549300FA4CTCW903Y781 | Long             | DBT              | CORP              | US        |    242000 | PA      | $248474.71    | 0.13%             | 2030-02-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| Carnival Corp                                                                                                                 | Carnival Corp 6.13 02/15/2033                                                                   | CUSIP: 143658BX9<br>LEI: F1OF2ZSX47CR0BCWA982 | Long             | DBT              | CORP              | US        |    832000 | PA      | $834574.57    | 0.45%             | 2033-02-15      | Fixed         | 6.12%                 | No            |                  2 | On Loan: No      |
| Castlelake Aircraft Securitization Trust 2018-1                                                                               | Castlelake Aircraft Securitization Trust 2018-1 4.13                                            | CUSIP: 14856CAA7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     92198 | PA      | $89631.03     | 0.05%             | 2043-06-15      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| Celanese US Holdings LLC                                                                                                      | Celanese US Holdings LLC 6.42 07/15/2027                                                        | CUSIP: 15089QAM6<br>LEI: CD30XVRLT4QO00B1C706 | Long             | DBT              | CORP              | US        |    313000 | PA      | $321114.57    | 0.17%             | 2027-07-15      | Fixed         | 6.42%                 | No            |                  2 | On Loan: No      |
| Celanese US Holdings LLC                                                                                                      | Celanese US Holdings LLC 6.50 04/15/2030                                                        | CUSIP: 15089QAZ7<br>LEI: CD30XVRLT4QO00B1C706 | Long             | DBT              | CORP              | US        |    730000 | PA      | $736243.69    | 0.40%             | 2030-04-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Chart Industries Inc                                                                                                          | Chart Industries Inc 7.50 01/01/2030                                                            | CUSIP: 16115QAF7<br>LEI: EM7QGKC1GYOF3LSZSL80 | Long             | DBT              | CORP              | US        |    170000 | PA      | $177658.67    | 0.10%             | 2030-01-01      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| Chart Industries Inc                                                                                                          | Chart Industries Inc 9.50 01/01/2031                                                            | CUSIP: 16115QAG5<br>LEI: EM7QGKC1GYOF3LSZSL80 | Long             | DBT              | CORP              | US        |    549000 | PA      | $585405.29    | 0.32%             | 2031-01-01      | Fixed         | 9.50%                 | No            |                  2 | On Loan: No      |
| Chase Home Lending Mortgage Tr                                                                                                | Chase Home Lending Mortgage Trust Series 2024-7 6.00                                            | CUSIP: 16159TAD3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    841443 | PA      | $846821.80    | 0.46%             | 2055-06-25      | Variable      | 6.00%                 | No            |                  2 | On Loan: No      |
| Chase Home Lending Mortgage Trust 2024-9                                                                                      | Chase Home Lending Mortgage Trust 2024-9 5.50                                                   | CUSIP: 16160QAD6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    535983 | PA      | $534828.00    | 0.29%             | 2055-09-25      | Variable      | 5.50%                 | No            |                  2 | On Loan: No      |
| Chase Home Lending Mortgage Trust 2024-9                                                                                      | Chase Home Lending Mortgage Trust 2024-9 5.50                                                   | CUSIP: 16160QAK0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    225156 | PA      | $224614.84    | 0.12%             | 2055-09-25      | Variable      | 5.50%                 | No            |                  2 | On Loan: No      |
| Chase Home Lending Mortgage Trust Series 2024-2                                                                               | Chase Home Lending Mortgage Trust Series 2024-2 6.00                                            | CUSIP: 161929AJ3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    614384 | PA      | $615608.72    | 0.33%             | 2055-02-25      | Variable      | 6.00%                 | No            |                  2 | On Loan: No      |
| Chile Electricity Lux Mpc II Sarl                                                                                             | Chile Electricity Lux Mpc II Sarl 5.67 10/20/2035                                               | CUSIP: 16882LAB8<br>LEI: N/A                  | Long             | DBT              | CORP              | LU        |    218000 | PA      | $217405.95    | 0.12%             | 2035-10-20      | Fixed         | 5.67%                 | No            |                  2 | On Loan: No      |
| CIFC Funding Ltd                                                                                                              | CIFC Funding 2018-I Ltd 6.07                                                                    | CUSIP: 17181NAJ3<br>LEI: 635400VBVF8AYJQBI411 | Long             | ABS-CBDO         | CORP              | US        |    475000 | PA      | $475639.40    | 0.26%             | 2038-01-18      | Floating      | 6.07%                 | No            |                  2 | On Loan: No      |
| Citigroup Mortgage Loan Trust 2025-2                                                                                          | Citigroup Mortgage Loan Trust 2025-2 6.00                                                       | CUSIP: 17292BAK2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    999281 | PA      | $1006457.50   | 0.54%             | 2055-02-25      | Variable      | 6.00%                 | No            |                  2 | On Loan: No      |
| Citigroup Inc                                                                                                                 | Citigroup Inc (pfd) 4.00% 03/10/2174 Perpetual                                                  | CUSIP: 172967MU2<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | EP               | CORP              | US        |    380000 | NS      | $377060.78    | 0.20%             |  |  |  | No            |                  2 | On Loan: No      |
| Enerflex Ltd                                                                                                                  | Enerflex Ltd 9.00 10/15/2027                                                                    | CUSIP: 29269RAA3<br>LEI: 54930014N7872VUS3F89 | Long             | DBT              | CORP              | CA        |    350000 | PA      | $360826.90    | 0.19%             | 2027-10-15      | Fixed         | 9.00%                 | No            |                  2 | On Loan: No      |
| Energy Transfer LP                                                                                                            | Energy Transfer LP (pfd) 6.50% 11/15/2173 Perpetual                                             | CUSIP: 29273VAN0<br>LEI: MTLVN9N7JE8MIBIJ1H73 | Long             | EP               | CORP              | US        |    925000 | NS      | $924981.96    | 0.50%             |  |  |  | No            |                  2 | On Loan: No      |
| Endo Finance Holdings Inc                                                                                                     | ENDO LUX FINAN COMPANY I SARL 2024 1ST LIEN TERM LOAN                                           | CUSIP: 29280UAD5<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    631825 | PA      | $618796.77    | 0.33%             | 2031-04-23      | Floating      | 8.33%                 | No            |                  2 | On Loan: No      |
| ONEOK Inc                                                                                                                     | ONEOK Inc 6.50 09/01/2030                                                                       | CUSIP: 29336TAD2<br>LEI: 2T3D6M0JSY48PSZI1Q41 | Long             | DBT              | CORP              | US        |    522000 | PA      | $552381.44    | 0.30%             | 2030-09-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Essent Group Ltd                                                                                                              | Essent Group Ltd 6.25 07/01/2029                                                                | CUSIP: 29669JAA7<br>LEI: 254900QUO860OUT6ZF83 | Long             | DBT              | CORP              | US        |    535000 | PA      | $551780.90    | 0.30%             | 2029-07-01      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| Essential Properties LP                                                                                                       | Essential Properties LP 2.95 07/15/2031                                                         | CUSIP: 29670VAA7<br>LEI: 254900XX9FNFCDE1NX02 | Long             | DBT              | CORP              | US        |    191000 | PA      | $167182.83    | 0.09%             | 2031-07-15      | Fixed         | 2.95%                 | No            |                  2 | On Loan: No      |
| Excelerate Energy LP                                                                                                          | Excelerate Energy LP 0.00 05/15/2030                                                            | CUSIP: 30069UAA6<br>LEI: LGL4IE90TNTFYJ55BK06 | Long             | DBT              | CORP              | US        |    129000 | PA      | $133641.60    | 0.07%             | 2030-05-15      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| F&G Annuities & Life Inc                                                                                                      | F&G Annuities & Life Inc 6.50 06/04/2029                                                        | CUSIP: 30190AAF1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    119000 | PA      | $121711.51    | 0.07%             | 2029-06-04      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| CyrusOne Data Centers Issuer I LLC                                                                                            | CyrusOne Data Centers Issuer I LLC 0.00                                                         | CUSIP: 23284BAG9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    350000 | PA      | $337776.88    | 0.18%             | 2049-05-20      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| Deephaven Residential Mortgage Trust 2021-3                                                                                   | Deephaven Residential Mortgage Trust 2021-3 1.19                                                | CUSIP: 24381VAA8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    230053 | PA      | $201424.27    | 0.11%             | 2066-08-25      | Variable      | 1.19%                 | No            |                  2 | On Loan: No      |
| Dell International LLC / EMC Corp                                                                                             | Dell International LLC / EMC Corp 5.30 04/01/2032                                               | CUSIP: 24703TAN6<br>LEI: 254900ZARLSVK41DKO78 | Long             | DBT              | CORP              | US        |    261000 | PA      | $262248.75    | 0.14%             | 2032-04-01      | Fixed         | 5.30%                 | No            |                  2 | On Loan: No      |
| Delta Air Lines Inc                                                                                                           | Delta Air Lines Inc 3.75 10/28/2029                                                             | CUSIP: 247361ZT8<br>LEI: Q2CCMS6R0AS67HJMBN42 | Long             | DBT              | CORP              | US        |    506000 | PA      | $475857.58    | 0.26%             | 2029-10-28      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| F&G Annuities & Life Inc                                                                                                      | F&G Annuities & Life Inc 6.25 10/04/2034                                                        | CUSIP: 30190AAG9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    157000 | PA      | $151952.21    | 0.08%             | 2034-10-04      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| Extended Stay America Trust 2021-ESH                                                                                          | Extended Stay America Trust 2021-ESH 7.29                                                       | CUSIP: 30227FAL4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    276188 | PA      | $276578.72    | 0.15%             | 2038-07-15      | Floating      | 7.29%                 | No            |                  2 | On Loan: No      |
| Freddie Mac Pool                                                                                                              | Freddie Mac Pool 6.00                                                                           | CUSIP: 3132DPM96<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGA              | US        |   1388254 | PA      | $1407059.08   | 0.76%             | 2053-01-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Freddie Mac Pool                                                                                                              | Freddie Mac Pool 5.00                                                                           | CUSIP: 3133KPKP2<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGA              | US        |    207560 | PA      | $201913.39    | 0.11%             | 2052-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae REMICS                                                                                                             | Fannie Mae REMICS 2.00                                                                          | CUSIP: 3136BQFV6<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGA              | US        |   4149971 | PA      | $529852.91    | 0.29%             | 2052-07-25      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae Pool                                                                                                               | Fannie Mae Pool 3.50                                                                            | CUSIP: 3140QNXA5<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGA              | US        |   1831427 | PA      | $1625530.30   | 0.88%             | 2052-04-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Fannie Mae Pool                                                                                                               | Fannie Mae Pool 6.00                                                                            | CUSIP: 3140QS4H1<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGA              | US        |    966157 | PA      | $983824.30    | 0.53%             | 2053-09-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae Pool                                                                                                               | Fannie Mae Pool 6.00                                                                            | CUSIP: 3140QS4T5<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGA              | US        |   1357765 | PA      | $1374812.85   | 0.74%             | 2053-09-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae Pool                                                                                                               | Fannie Mae Pool 5.50                                                                            | CUSIP: 3140XLLW6<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGA              | US        |   4373774 | PA      | $4334741.55   | 2.34%             | 2053-05-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Fannie Mae Pool                                                                                                               | Fannie Mae Pool 5.00                                                                            | CUSIP: 3140XRDE2<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGA              | US        |   1626981 | PA      | $1580709.97   | 0.85%             | 2054-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Freddie Mac Pool                                                                                                              | Freddie Mac Pool 6.50                                                                           | CUSIP: 3142GQLF7<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGA              | US        |   1745062 | PA      | $1800000.61   | 0.97%             | 2053-11-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Freddie Mac Pool                                                                                                              | Freddie Mac Pool 5.50                                                                           | CUSIP: 3142GRMN7<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGA              | US        |   2045776 | PA      | $2040226.76   | 1.10%             | 2054-04-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Fiesta Purchaser Inc                                                                                                          | Fiesta Purchaser Inc 9.63 09/15/2032                                                            | CUSIP: 31659AAB2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    313000 | PA      | $328219.00    | 0.18%             | 2032-09-15      | Fixed         | 9.62%                 | No            |                  2 | On Loan: —       |
| Fifth Third Bancorp                                                                                                           | Fifth Third Bancorp (pfd) 4.50% 09/30/2173 Perpetual                                            | CUSIP: 316773DB3<br>LEI: THRNG6BD57P9QWTQLG42 | Long             | EP               | CORP              | US        |    900000 | NS      | $895991.13    | 0.48%             |  |  |  | No            |                  2 | On Loan: No      |
| First Industrial LP                                                                                                           | First Industrial LP 5.25 01/15/2031                                                             | CUSIP: 32055RAS6<br>LEI: 86MKNB3IKYZZT3E3OV11 | Long             | DBT              | CORP              | US        |    159000 | PA      | $159214.96    | 0.09%             | 2031-01-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Flexential Issuer 2021-1                                                                                                      | Flexential Issuer 2021-1 3.25                                                                   | CUSIP: 33938MAA7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    525000 | PA      | $502600.40    | 0.27%             | 2051-11-27      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| Ford Motor Credit Co LLC                                                                                                      | Ford Motor Credit Co LLC 7.20 06/10/2030                                                        | CUSIP: 345397D42<br>LEI: UDSQCVRUX5BONN0VY111 | Long             | DBT              | CORP              | CA        |    310000 | PA      | $321933.89    | 0.17%             | 2030-06-10      | Fixed         | 7.20%                 | No            |                  2 | On Loan: No      |
| Ford Motor Credit Co LLC                                                                                                      | Ford Motor Credit Co LLC 4.13 08/04/2025                                                        | CUSIP: 345397XL2<br>LEI: UDSQCVRUX5BONN0VY111 | Long             | DBT              | CORP              | CA        |    882000 | PA      | $880173.18    | 0.48%             | 2025-08-04      | Fixed         | 4.13%                 | No            |                  2 | On Loan: No      |
| Forestar Group Inc                                                                                                            | Forestar Group Inc 6.50 03/15/2033                                                              | CUSIP: 346232AG6<br>LEI: 549300BC2UB0GHV60V70 | Long             | DBT              | CORP              | US        |    735000 | PA      | $729576.14    | 0.39%             | 2033-03-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Fortress Transportation and Infrastructure Investors LLC                                                                      | Fortress Transportation and Infrastructure Investors LLC 7.00 06/15/2032                        | CUSIP: 34960PAG6<br>LEI: 529900E7PUVK6BC8PE80 | Long             | DBT              | CORP              | US        |    343000 | PA      | $350898.95    | 0.19%             | 2032-06-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| Fortitude Group Holdings LLC                                                                                                  | Fortitude Group Holdings LLC 6.25 04/01/2030                                                    | CUSIP: 34966XAA6<br>LEI: 2549006R9ZUL08JFIH12 | Long             | DBT              | CORP              | US        |    270000 | PA      | $273543.80    | 0.15%             | 2030-04-01      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| Foundry JV Holdco LLC                                                                                                         | Foundry JV Holdco LLC 5.88 01/25/2034                                                           | CUSIP: 350930AA1<br>LEI: 21380048QROAMGM6EP30 | Long             | DBT              | CORP              | US        |    145000 | PA      | $145481.49    | 0.08%             | 2034-01-25      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| Foundry JV Holdco LLC                                                                                                         | Foundry JV Holdco LLC 5.50 01/25/2031                                                           | CUSIP: 350930AF0<br>LEI: 21380048QROAMGM6EP30 | Long             | DBT              | CORP              | US        |    385000 | PA      | $390254.33    | 0.21%             | 2031-01-25      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Foundry JV Holdco LLC                                                                                                         | Foundry JV Holdco LLC 6.10 01/25/2036                                                           | CUSIP: 350930AH6<br>LEI: 21380048QROAMGM6EP30 | Long             | DBT              | CORP              | US        |    200000 | PA      | $203351.03    | 0.11%             | 2036-01-25      | Fixed         | 6.10%                 | No            |                  2 | On Loan: No      |
| Freddie Mac STACR REMIC Trust 2023-HQA2                                                                                       | Freddie Mac STACR REMIC Trust 2023-HQA2 6.32                                                    | CUSIP: 35564K2F5<br>LEI: 5493000KIGZAWUOW4E32 | Long             | ABS-MBS          | CORP              | US        |    112745 | PA      | $113407.04    | 0.06%             | 2043-06-25      | Floating      | 6.32%                 | No            |                  2 | On Loan: No      |
| Freddie Mac STACR REMIC Trust 2022-DNA6                                                                                       | Freddie Mac STACR REMIC Trust 2022-DNA6 6.47                                                    | CUSIP: 35564KH36<br>LEI: 5493000IS30HKV5IAS29 | Long             | ABS-MBS          | CORP              | US        |     85488 | PA      | $86299.68     | 0.05%             | 2042-09-25      | Floating      | 6.47%                 | No            |                  2 | On Loan: No      |
| Freedom Mortgage Corp                                                                                                         | Freedom Mortgage Corp 12.00 10/01/2028                                                          | CUSIP: 35640YAK3<br>LEI: 549300LYRWPSYPK6S325 | Long             | DBT              | CORP              | US        |    395000 | PA      | $424069.29    | 0.23%             | 2028-10-01      | Fixed         | 12.00%                | No            |                  2 | On Loan: No      |
| Freedom Mortgage Holdings LLC                                                                                                 | Freedom Mortgage Holdings LLC 9.25 02/01/2029                                                   | CUSIP: 35641AAA6<br>LEI: 254900ROJ91RGM43S156 | Long             | DBT              | CORP              | US        |    429000 | PA      | $442659.36    | 0.24%             | 2029-02-01      | Fixed         | 9.25%                 | No            |                  2 | On Loan: No      |
| Frontier Communications Holdings LLC                                                                                          | Frontier Communications Holdings LLC 8.63 03/15/2031                                            | CUSIP: 35908MAE0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1277000 | PA      | $1360391.79   | 0.73%             | 2031-03-15      | Fixed         | 8.62%                 | No            |                  2 | On Loan: No      |
| GCAT 2021-NQM1 Trust                                                                                                          | GCAT 2021-NQM1 Trust 1.15                                                                       | CUSIP: 36167TAC3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     96742 | PA      | $84144.56     | 0.05%             | 2066-01-25      | Variable      | 1.15%                 | No            |                  2 | On Loan: No      |
| Ally Financial Inc                                                                                                            | Ally Financial Inc 8.00 11/01/2031                                                              | CUSIP: 36186CBY8<br>LEI: 549300JBN1OSM8YNAI90 | Long             | DBT              | CORP              | US        |    320000 | PA      | $358224.20    | 0.19%             | 2031-11-01      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| GS Mortgage-Backed Securities Trust 2024-HE1                                                                                  | GS Mortgage-Backed Securities Trust 2024-HE1 5.92                                               | CUSIP: 36270AAA2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    392383 | PA      | $392676.22    | 0.21%             | 2054-08-25      | Floating      | 5.92%                 | No            |                  2 | On Loan: No      |
| GCAT 2024-INV3 Trust                                                                                                          | GCAT 2024-INV3 Trust 5.50                                                                       | CUSIP: 36830FAF3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    322749 | PA      | $322915.09    | 0.17%             | 2054-09-25      | Variable      | 5.50%                 | No            |                  2 | On Loan: No      |
| Geopark Ltd                                                                                                                   | Geopark Ltd 8.75 01/31/2030                                                                     | CUSIP: 37255BAC3<br>LEI: 529900ZR5QI19AH4KZ07 | Long             | DBT              | CORP              | CO        |    735000 | PA      | $583810.50    | 0.32%             | 2030-01-31      | Fixed         | 8.75%                 | No            |                  2 | On Loan: No      |
| Global Atlantic Fin Co                                                                                                        | Global Atlantic Fin Co 4.40 10/15/2029                                                          | CUSIP: 37959GAA5<br>LEI: 98450051B2E65CAA7E94 | Long             | DBT              | CORP              | US        |    506000 | PA      | $486438.00    | 0.26%             | 2029-10-15      | Fixed         | 4.40%                 | No            |                  2 | On Loan: No      |
| Golub Capital BDC Inc                                                                                                         | Golub Capital BDC Inc 7.05 12/05/2028                                                           | CUSIP: 38173MAD4<br>LEI: 2549005WE0QLGK9APF78 | Long             | DBT              | CORP              | US        |    505000 | PA      | $527991.70    | 0.28%             | 2028-12-05      | Fixed         | 7.05%                 | No            |                  2 | On Loan: No      |
| Golub Capital Private Credit Fund                                                                                             | Golub Capital Private Credit Fund 5.80 09/12/2029                                               | CUSIP: 38179RAA3<br>LEI: 254900B5KBW6OY1F9951 | Long             | DBT              | CORP              | US        |    214000 | PA      | $211983.05    | 0.11%             | 2029-09-12      | Fixed         | 5.80%                 | No            |                  2 | On Loan: No      |
| Golub Capital Private Credit Fund                                                                                             | Golub Capital Private Credit Fund 5.88 05/01/2030                                               | CUSIP: 38179RAC9<br>LEI: 254900B5KBW6OY1F9951 | Long             | DBT              | CORP              | US        |    164000 | PA      | $162682.03    | 0.09%             | 2030-05-01      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| UBS Commercial Mortgage Trust 2018-C15                                                                                        | UBS Commercial Mortgage Trust 2018-C15 5.14                                                     | CUSIP: 90278LAC3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    117000 | PA      | $104814.64    | 0.06%             | 2051-12-15      | Variable      | 5.14%                 | No            |                  2 | On Loan: No      |
| UniCredit SpA                                                                                                                 | UniCredit SpA 5.86 06/19/2032                                                                   | CUSIP: 904678AF6<br>LEI: 549300TRUWO2CD2G5692 | Long             | DBT              | CORP              | IT        |    897000 | PA      | $899435.70    | 0.49%             | 2032-06-19      | Variable      | 5.86%                 | No            |                  2 | On Loan: No      |
| United States Cellular Corp                                                                                                   | United States Cellular Corp 6.70 12/15/2033                                                     | CUSIP: 911684AD0<br>LEI: 549300B164AZXESI6E03 | Long             | DBT              | CORP              | US        |    836000 | PA      | $900902.86    | 0.49%             | 2033-12-15      | Fixed         | 6.70%                 | No            |                  2 | On Loan: No      |
| U.S. TREASURY                                                                                                                 | United States Treasury Note/Bond 4.63 09/15/2026                                                | CUSIP: 91282CHY0<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    475000 | PA      | $478358.40    | 0.26%             | 2026-09-15      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| U.S. TREASURY                                                                                                                 | United States Treasury Note/Bond 4.75 11/15/2033                                                | CUSIP: 91282CJJ1<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    185000 | PA      | $187803.91    | 0.10%             | 2033-11-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| U.S. TREASURY                                                                                                                 | United States Treasury Note/Bond 4.13 11/30/2031                                                | CUSIP: 91282CLZ2<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    950000 | PA      | $949666.02    | 0.51%             | 2031-11-30      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| Gran Tierra Energy Inc                                                                                                        | Gran Tierra Energy Inc 9.50 10/15/2029                                                          | CUSIP: 38500TAC5<br>LEI: 549300IH2S17MAIUCM32 | Long             | DBT              | CORP              | CA        |   1035000 | PA      | $725344.85    | 0.39%             | 2029-10-15      | Fixed         | 9.50%                 | No            |                  2 | On Loan: No      |
| Greenko Wind Projects Mauritius Ltd                                                                                           | Greenko Wind Projects Mauritius Ltd 7.25 09/27/2028                                             | CUSIP: 39531JAB0<br>LEI: 254900MSUXE1FF83DP82 | Long             | DBT              | CORP              | MU        |    476000 | PA      | $472773.71    | 0.26%             | 2028-09-27      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| Greensaif Pipelines Bidco Sarl                                                                                                | Greensaif Pipelines Bidco Sarl 5.85 02/23/2036                                                  | CUSIP: 39541EAD5<br>LEI: 549300YWDGUXPB8GRP47 | Long             | DBT              | CORP              | LU        |    802000 | PA      | $803610.62    | 0.43%             | 2036-02-23      | Fixed         | 5.85%                 | No            |                  2 | On Loan: No      |
| Grupo Aeromexico SAB de CV                                                                                                    | Grupo Aeromexico SAB de CV 8.25 11/15/2029                                                      | CUSIP: 40054JAC3<br>LEI: N/A                  | Long             | DBT              | CORP              | MX        |    640000 | PA      | $605440.00    | 0.33%             | 2029-11-15      | Fixed         | 8.25%                 | No            |                  2 | On Loan: No      |
| U.S. TREASURY                                                                                                                 | United States Treasury Note/Bond 4.38 12/31/2029                                                | CUSIP: 91282CMD0<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    800000 | PA      | $814187.50    | 0.44%             | 2029-12-31      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| U.S. TREASURY                                                                                                                 | United States Treasury Note/Bond 3.88 03/15/2028                                                | CUSIP: 91282CMS7<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   2350000 | PA      | $2351560.54   | 1.27%             | 2028-03-15      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| U.S. TREASURY                                                                                                                 | United States Treasury Note/Bond 4.00 04/30/2032                                                | CUSIP: 91282CNA5<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   8300000 | PA      | $8219593.75   | 4.44%             | 2032-04-30      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| VB-S1 Issuer LLC - VBTEL                                                                                                      | VB-S1 Issuer LLC - VBTEL 4.29                                                                   | CUSIP: 91823AAY7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    425000 | PA      | $404607.44    | 0.22%             | 2052-02-15      | Fixed         | 4.29%                 | No            |                  2 | On Loan: No      |
| VB-S1 Issuer LLC - VBTEL                                                                                                      | VB-S1 Issuer LLC - VBTEL 8.87                                                                   | CUSIP: 91823ABG5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    475000 | PA      | $493952.79    | 0.27%             | 2054-05-15      | Fixed         | 8.87%                 | No            |                  2 | On Loan: No      |
| Vallourec SACA                                                                                                                | Vallourec SACA 7.50 04/15/2032                                                                  | CUSIP: 92023RAA8<br>LEI: 969500P2Q1B47H4MCJ34 | Long             | DBT              | CORP              | FR        |    640000 | PA      | $668595.84    | 0.36%             | 2032-04-15      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| Verus Securitization Trust 2024-5                                                                                             | Verus Securitization Trust 2024-5 6.19                                                          | CUSIP: 92540HAA4<br>LEI: 213800YE6HC7EZSFHW30 | Long             | ABS-MBS          | CORP              | US        |    515694 | PA      | $519999.34    | 0.28%             | 2069-06-25      | Variable      | 6.19%                 | No            |                  2 | On Loan: No      |
| Expand Energy Corp                                                                                                            | Expand Energy Corp 6.75 04/15/2029                                                              | CUSIP: 92735LAA0<br>LEI: X2MT1W32SPAZ9WSKLE78 | Long             | DBT              | CORP              | US        |    444000 | PA      | $449490.95    | 0.24%             | 2029-04-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| Vista Point Securitization Trust 2024-CES1                                                                                    | Vista Point Securitization Trust 2024-CES1 6.68                                                 | CUSIP: 92839HAA4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    534409 | PA      | $540744.89    | 0.29%             | 2054-05-25      | Variable      | 6.68%                 | No            |                  2 | On Loan: No      |
| Walgreens Boots Alliance Inc                                                                                                  | Walgreens Boots Alliance Inc 3.45 06/01/2026                                                    | CUSIP: 931427AQ1<br>LEI: 549300RPTUOIXG4LIH86 | Long             | DBT              | CORP              | US        |    163000 | PA      | $159499.12    | 0.09%             | 2026-06-01      | Fixed         | 3.45%                 | No            |                  2 | On Loan: No      |
| HSBC Holdings PLC                                                                                                             | HSBC Holdings PLC (pfd) 6.00% 11/22/2173 Perpetual                                              | CUSIP: 404280BL2<br>LEI: MLU0ZO3ML4LN2LL2TL39 | Long             | EP               | CORP              | GB        |   1000000 | NS      | $996164.80    | 0.54%             |  |  |  | No            |                  2 | On Loan: No      |
| HSBC Holdings PLC                                                                                                             | HSBC Holdings PLC (pfd) 7.05% 12/05/2173 Perpetual                                              | CUSIP: 404280FA2<br>LEI: MLU0ZO3ML4LN2LL2TL39 | Long             | EP               | CORP              | GB        |    310000 | NS      | $310803.05    | 0.17%             |  |  |  | No            |                  2 | On Loan: No      |
| HPS Corporate Lending Fund                                                                                                    | HPS Corporate Lending Fund 6.25 09/30/2029                                                      | CUSIP: 40440VAC9<br>LEI: 549300ZS7IHUA6FKFV61 | Long             | DBT              | CORP              | US        |    239000 | PA      | $242914.67    | 0.13%             | 2029-09-30      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| HGI CRE CLO Ltd                                                                                                               | HGI CRE CLO 2021-FL1 Ltd 5.84                                                                   | CUSIP: 40441LAC0<br>LEI: 549300VYJ293N0KO2L78 | Long             | ABS-CBDO         | CORP              | US        |    603000 | PA      | $601179.12    | 0.32%             | 2036-06-16      | Floating      | 5.84%                 | No            |                  2 | On Loan: No      |
| Jordan Government International Bond                                                                                          | Jordan Government International Bond 5.85 07/07/2030                                            | CUSIP: 418097AL5<br>LEI: 5493000JZ4MYPVMBVN50 | Long             | DBT              | NUSS              | JO        |    500000 | PA      | $469860.38    | 0.25%             | 2030-07-07      | Fixed         | 5.85%                 | No            |                  2 | On Loan: No      |
| Herc Holdings Escrow Inc                                                                                                      | Herc Holdings Escrow Inc 7.25 06/15/2033                                                        | CUSIP: 42703NAB7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    345000 | PA      | $355316.16    | 0.19%             | 2033-06-15      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| Hilton Grand Vacations Trust 2024-2                                                                                           | Hilton Grand Vacations Trust 2024-2 6.91                                                        | CUSIP: 43283JAD8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    241318 | PA      | $246093.40    | 0.13%             | 2038-03-25      | Fixed         | 6.91%                 | No            |                  2 | On Loan: No      |
| Service Properties Trust                                                                                                      | Service Properties Trust 5.25 02/15/2026                                                        | CUSIP: 44106MAV4<br>LEI: 529900IS770AG1K9QG27 | Long             | DBT              | CORP              | US        |    245000 | PA      | $242959.69    | 0.13%             | 2026-02-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Husky Injection Molding Systems Ltd / Titan Co-Borrower LLC                                                                   | Husky Injection Molding Systems Ltd / Titan Co-Borrower LLC 9.00 02/15/2029                     | CUSIP: 44805RAA3<br>LEI: N/A                  | Long             | DBT              | CORP              | CA        |    870000 | PA      | $890235.33    | 0.48%             | 2029-02-15      | Fixed         | 9.00%                 | No            |                  2 | On Loan: No      |
| ING Groep NV                                                                                                                  | ING Groep NV (pfd) 5.75% 11/16/2173 Perpetual                                                   | CUSIP: 456837AR4<br>LEI: 549300NYKK9MWM7GGW15 | Long             | EP               | CORP              | NL        |    765000 | NS      | $760917.58    | 0.41%             |  |  |  | No            |                  2 | On Loan: No      |
| Intel Corp                                                                                                                    | Intel Corp 3.90 03/25/2030                                                                      | CUSIP: 458140BR0<br>LEI: KNX4USFCNGPY45LOCE31 | Long             | DBT              | CORP              | US        |    280000 | PA      | $268146.49    | 0.14%             | 2030-03-25      | Fixed         | 3.90%                 | No            |                  2 | On Loan: No      |
| Intel Corp                                                                                                                    | Intel Corp 5.70 02/10/2053                                                                      | CUSIP: 458140CJ7<br>LEI: KNX4USFCNGPY45LOCE31 | Long             | DBT              | CORP              | US        |    160000 | PA      | $143685.74    | 0.08%             | 2053-02-10      | Fixed         | 5.70%                 | No            |                  2 | On Loan: No      |
| International Game Technology PLC                                                                                             | International Game Technology PLC 4.13 04/15/2026                                               | CUSIP: 460599AF0<br>LEI: 549300UQ6KHRCZDRGZ76 | Long             | DBT              | CORP              | US        |    550000 | PA      | $546268.80    | 0.29%             | 2026-04-15      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| Intesa Sanpaolo SpA                                                                                                           | Intesa Sanpaolo SpA (pfd) 7.70% 03/17/2174 Perpetual                                            | CUSIP: 46115HAU1<br>LEI: 2W8N8UU78PMDQKZENC08 | Long             | EP               | CORP              | IT        |    960000 | NS      | $965382.57    | 0.52%             |  |  |  | No            |                  2 | On Loan: No      |
| Intesa Sanpaolo SpA                                                                                                           | Intesa Sanpaolo SpA 5.71 01/15/2026                                                             | CUSIP: 46115HAW7<br>LEI: 2W8N8UU78PMDQKZENC08 | Long             | DBT              | CORP              | IT        |    895000 | PA      | $897158.02    | 0.48%             | 2026-01-15      | Fixed         | 5.71%                 | No            |                  2 | On Loan: No      |
| J.P. Morgan Mortgage Trust 2023-6                                                                                             | J.P. Morgan Mortgage Trust 2023-6 6.00                                                          | CUSIP: 465989AC5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    457607 | PA      | $460173.40    | 0.25%             | 2053-12-26      | Variable      | 6.00%                 | No            |                  2 | On Loan: No      |
| J.P. Morgan Chase Commercial Mortgage Securities Trust 2018-AON                                                               | J.P. Morgan Chase Commercial Mortgage Securities Trust 2018-AON 4.13                            | CUSIP: 46649XAA5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    282000 | PA      | $259280.19    | 0.14%             | 2031-07-05      | Fixed         | 4.13%                 | No            |                  2 | On Loan: No      |
| J.P. Morgan Mortgage Trust 2023-8                                                                                             | J.P. Morgan Mortgage Trust 2023-8 6.00                                                          | CUSIP: 46657CAD4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    829148 | PA      | $833657.14    | 0.45%             | 2054-02-25      | Variable      | 6.00%                 | No            |                  2 | On Loan: No      |
| JP Morgan Mortgage Trust Series 2024-6                                                                                        | JP Morgan Mortgage Trust Series 2024-6 6.00                                                     | CUSIP: 46657YAF1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    235643 | PA      | $236066.66    | 0.13%             | 2054-12-25      | Variable      | 6.00%                 | No            |                  2 | On Loan: No      |
| J.P. Morgan Mortgage Trust 2024-10                                                                                            | J.P. Morgan Mortgage Trust 2024-10 5.50                                                         | CUSIP: 46658LAD3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    456737 | PA      | $454939.66    | 0.25%             | 2055-03-25      | Variable      | 5.50%                 | No            |                  2 | On Loan: No      |
| J.P. Morgan Mortgage Trust 2024-10                                                                                            | J.P. Morgan Mortgage Trust 2024-10 5.50                                                         | CUSIP: 46658LAK7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    491075 | PA      | $489370.42    | 0.26%             | 2055-03-25      | Variable      | 5.50%                 | No            |                  2 | On Loan: No      |
| JP Morgan Mortgage Trust 2024-INV1                                                                                            | JP Morgan Mortgage Trust 2024-INV1 6.00                                                         | CUSIP: 46658PAD4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    428817 | PA      | $431730.64    | 0.23%             | 2055-04-25      | Variable      | 6.00%                 | No            |                  2 | On Loan: No      |
| JP Morgan Mortgage Trust 2024-11                                                                                              | JP Morgan Mortgage Trust 2024-11 6.00                                                           | CUSIP: 46659AAJ3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    370846 | PA      | $372244.11    | 0.20%             | 2055-04-25      | Variable      | 6.00%                 | No            |                  2 | On Loan: No      |
| Kilroy Realty LP                                                                                                              | Kilroy Realty LP 4.25 08/15/2029                                                                | CUSIP: 49427RAK8<br>LEI: 5493008CT3N3JR7P1552 | Long             | DBT              | CORP              | US        |    580000 | PA      | $548369.53    | 0.30%             | 2029-08-15      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| Kilroy Realty LP                                                                                                              | Kilroy Realty LP 2.50 11/15/2032                                                                | CUSIP: 49427RAQ5<br>LEI: 5493008CT3N3JR7P1552 | Long             | DBT              | CORP              | US        |     93000 | PA      | $73165.12     | 0.04%             | 2032-11-15      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| Kilroy Realty LP                                                                                                              | Kilroy Realty LP 2.65 11/15/2033                                                                | CUSIP: 49427RAR3<br>LEI: 5493008CT3N3JR7P1552 | Long             | DBT              | CORP              | US        |    128000 | PA      | $98430.45     | 0.05%             | 2033-11-15      | Fixed         | 2.65%                 | No            |                  2 | On Loan: No      |
| NP SPE IX LP                                                                                                                  | NP SPE IX LP 2.57                                                                               | CUSIP: 62954JAA2<br>LEI: 549300M4DFCB4G0UM882 | Long             | ABS-MBS          | CORP              | US        |    184666 | PA      | $180697.19    | 0.10%             | 2049-09-20      | Fixed         | 2.57%                 | No            |                  2 | On Loan: No      |
| Navigator Aircraft ABS Ltd                                                                                                    | Navigator Aircraft ABS Ltd 3.57                                                                 | CUSIP: 63943BAB9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    227015 | PA      | $211398.50    | 0.11%             | 2046-11-15      | Variable      | 3.57%                 | No            |                  2 | On Loan: No      |
| Nevada Power Co                                                                                                               | Nevada Power Co 6.25 05/15/2055                                                                 | CUSIP: 641423CH9<br>LEI: MJZFGXRJ52U8U4MKJ519 | Long             | DBT              | CORP              | US        |     71000 | PA      | $70028.72     | 0.04%             | 2055-05-15      | Variable      | 6.25%                 | No            |                  2 | On Loan: No      |
| New Economy Assets - Phase 1 Sponsor LLC                                                                                      | New Economy Assets - Phase 1 Sponsor LLC 2.41                                                   | CUSIP: 643821AB7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    750000 | PA      | $683879.40    | 0.37%             | 2061-10-20      | Fixed         | 2.41%                 | No            |                  2 | On Loan: No      |
| Constellation Oil Services Holding SA                                                                                         | Constellation Oil Services Holding SA 9.38 11/07/2029                                           | CUSIP: 650921AA7<br>LEI: 5493005YJTU769NW5I10 | Long             | DBT              | CORP              | LU        |    322000 | PA      | $321597.50    | 0.17%             | 2029-11-07      | Fixed         | 9.38%                 | No            |                  2 | On Loan: No      |
| Nexstar Media Inc                                                                                                             | Nexstar Media Inc 5.63 07/15/2027                                                               | CUSIP: 65343HAA9<br>LEI: 5493006PK6I4I2OOT688 | Long             | DBT              | CORP              | US        |    740000 | PA      | $737503.46    | 0.40%             | 2027-07-15      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| Nordea Bank Abp                                                                                                               | Nordea Bank Abp (pfd) 6.63% 09/26/2173 Perpetual                                                | CUSIP: 65559CAA9<br>LEI: 529900ODI3047E2LIV03 | Long             | EP               | CORP              | FI        |    975000 | NS      | $979938.38    | 0.53%             |  |  |  | No            |                  2 | On Loan: No      |
| Nuveen Churchill Direct Lending Corp                                                                                          | Nuveen Churchill Direct Lending Corp 6.65 03/15/2030                                            | CUSIP: 67090SAA6<br>LEI: 254900X3ULEP6XX7HG39 | Long             | DBT              | CORP              | US        |    355000 | PA      | $361595.67    | 0.20%             | 2030-03-15      | Fixed         | 6.65%                 | No            |                  2 | On Loan: —       |
| State Street Navigator Securities Lending Trust - State Street Navigator Securities Lending Government Money Market Portfolio | State Street Navigator Securities Lending Government Money Market Portfolio                     | CUSIP: N/A<br>LEI: 5493008BJIBKQ5KTIF74       | Long             | STIV             | RF                | US        |   3144512 | NS      | $3144512.50   | 1.70%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2025-07-25

**Name of Applicant:** American Century ETF Trust

**Signature:** Amy R. Bitter

**Name of Signer:** Amy R. Bitter

**Title:** Assistant Treasurer