# EDGAR Filing Document

**Accession Number:** 0000810893
**File Stem:** 0001099263-25-004469
**Filing Date:** 2025-11
**Character Count:** 104477
**Document Hash:** 166530cd9f6ba457832a546db85cbade
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001099263-25-004469.hdr.sgml**: 20251126

**ACCESSION NUMBER**: 0001099263-25-004469

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20250930

**FILED AS OF DATE**: 20251126

**DATE AS OF CHANGE**: 20251126

**PERIOD START**: 20260331

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** PIMCO FUNDS
- **CENTRAL INDEX KEY:** 0000810893

**ORGANIZATION NAME:**
- **EIN:** 952632339
- **STATE OF INCORPORATION:** MA
- **FISCAL YEAR END:** 0331

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-05028
- **FILM NUMBER:** 251528292

**BUSINESS ADDRESS:**
- **STREET 1:** 650 NEWPORT CENTER DRIVE
- **CITY:** NEWPORT BEACH
- **STATE:** CA
- **ZIP:** 92660
- **BUSINESS PHONE:** 949-720-6000

**MAIL ADDRESS:**
- **STREET 1:** 650 NEWPORT CENTER DRIVE
- **CITY:** NEWPORT BEACH
- **STATE:** CA
- **ZIP:** 92660

## Series and Classes Contracts Data

### PIMCO Preferred and Capital Securities Fund (Series ID: S000048447)

| Class ID   | Class Name          | Ticker Symbol   |
|:---|:---|:---|
| C000152873 | Institutional Class | PFINX           |
| C000152874 | I-2                 | PFPNX           |
| C000152877 | Class A             | PFANX           |
| C000152878 | Class C             | PFCJX           |
| C000200467 | I-3                 | PFNNX           |

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** PIMCO Funds

- **b. Investment Company Act file number:** 811-05028

- **c. CIK number of Registrant:** 0000810893

- **d. LEI of Registrant:** 5493003B5Y5GR0Y25Y76

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

  - **Street Address 1:** 650 Newport Center Drive

  - **City:** Newport Beach

  - **State:** CA

  - **Foreign country:** US

  - **Zip / Postal Code:** 92660

  - **Telephone number:** (888) 877-4626

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

- **a. Name of Series:** PIMCO Preferred and Capital Securities Fund

- **b. EDGAR series identifier (if any):** S000048447

- **c. LEI of Series:** 5493000QG7HX2Z070R94

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

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

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

**Item A.4. Final filing**

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

### Fund Information

**Total Assets:** $858911676.34

**Total Liabilities:** $48932287.82

**Net Assets:** $809979388.52

**Delayed Delivery Securities:** $5200000.00

**Cash Not Reported:** $9171147.95

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** 9365.741300 | **1-Year:** 118405.188200 | **5-Year:** 253873.327900 | **10-Year:** 74350.250700 | **30-Year:** 6364.814200

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

- **3-Month:** 1123.705600 | **1-Year:** 10603.708600 | **5-Year:** 18796.923100 | **10-Year:** 506.205700 | **30-Year:** 0.000000

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000152877 | 0.75%                | 0.96%                | 1.51%                |
| Class ID C000152878 | 0.65%                | 0.96%                | 1.44%                |
| Class ID C000152874 | 0.75%                | 0.95%                | 1.56%                |
| Class ID C000200467 | 0.86%                | 0.85%                | 1.56%                |
| Class ID C000152873 | 0.85%                | 0.95%                | 1.48%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $327330.95               | $-3157952.77                               |
| Month 2  | $1424187.49              | $6319407.25                                |
| Month 3  | $345739.34               | $6779223.12                                |

**Designated Index Information**

- **Index Name:** ICE BofA 70% Constrained Preferred & Junior Subordinated Securities and 30% Contingent Capital Index

- **Index Identifier:** P8CO

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| FARM CREDIT BANK OF TEXAS                          | FARM CREDIT BK OF TEXAS JR SUBORDINA 144A VAR           | CUSIP: 30767EAC3<br>LEI: V1EBJIOLRNYDHDF63Z33 | Long             | EP               | USGSE             | US        |   7000000 | NS      | $6979070.00   | 0.86%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                                | SOLD GBP BOUGHT USD 20251002                            | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DFE              |  | GB        |         1 | NC      | $125623.44    | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| UNITED STATES GOVT                                 | TREASURY BILL 12/25 0.00000                             | CUSIP: 912797QY6<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    975000 | PA      | $967606.39    | 0.12%             | 2025-12-11      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| MORGAN STANLEY                                     | MORGAN STANLEY JR SUBORDINA VAR                         | CUSIP: 61745VAB9<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | EP               | CORP              | US        |   3600000 | NS      | $3624084.00   | 0.45%             |  |  |  | No            |                  2 | On Loan: No      |
| BANCO BILBAO VIZCAYA ARGENTARIA SA (BBVA)          | BANCO BILBAO VIZCAYA ARG JR SUBORDINA 12/99 VAR         | CUSIP: 05946KAM3<br>LEI: K8MS7FD7N5Z2WQ51AZ71 | Long             | DBT              | CORP              | ES        |   1200000 | PA      | $1340831.41   | 0.17%             | 2029-03-19      | Floating      | 9.38%                 | No            |                  2 | On Loan: No      |
| CITIGROUP INC                                      | CITIGROUP INC JR SUBORDINA 12/99 VAR                    | CUSIP: 172967PM7<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | EP               | CORP              | US        |    750000 | NS      | $798480.00    | 0.10%             |  |  |  | No            |                  2 | On Loan: No      |
| UBS GROUP AG                                       | UBS GROUP AG JR SUBORDINA REGS 12/99 VAR                | CUSIP: H42097ER4<br>LEI: 549300SZJ9VS8SGXAN81 | Long             | DBT              | CORP              | CH        |   1300000 | PA      | $1550005.60   | 0.19%             | 2033-11-13      | Floating      | 9.25%                 | No            |                  2 | On Loan: No      |
| N/A                                                | LONG GILT FUTURE  DEC25 IFLL 20251229                   | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DIR              |  | GB        |       105 | NC      | $57662.50     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| CANADIAN IMPERIAL BANK OF COMMERCE (CIBC)          | CANADIAN IMPERIAL BANK JR SUBORDINA 01/85 VAR           | CUSIP: 13607PNF7<br>LEI: 2IGI19DL77OX0HC3ZE78 | Long             | DBT              | CORP              | CA        |   3200000 | PA      | $3251581.63   | 0.40%             | 2085-01-28      | Floating      | 6.95%                 | No            |                  2 | On Loan: No      |
| N/A                                                | US LONG BOND(CBT) DEC25 XCBT 20251219                   | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DIR              |  | US        |       -50 | NC      | $-53764.62    | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| BARCLAYS PLC                                       | BARCLAYS PLC JR SUBORDINA REGS 12/99 VAR                | CUSIP: ACI26N5G4<br>LEI: 213800LBQA1Y9L22JB70 | Long             | DBT              | CORP              | GB        |   1900000 | PA      | $2693947.28   | 0.33%             | 2027-09-15      | Floating      | 8.88%                 | No            |                  2 | On Loan: No      |
| BANK OF IRELAND GROUP PLC                          | BANK OF IRELAND GROUP JR SUBORDINA REGS 12/99 VAR       | CUSIP: ACI2R0NV8<br>LEI: 635400C8EK6DRI12LJ39 | Long             | DBT              | CORP              | IE        |   2450000 | PA      | $3003245.66   | 0.37%             | 2030-03-10      | Floating      | 6.38%                 | No            |                  2 | On Loan: No      |
| N/A                                                | RFR GBP SONIO/4.50000 09/17/25-30Y LCH                  | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DIR              |  | GB        |         1 | NC      | $125836.36    | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                                | RFR GBP SONIO/3.75000 09/17/25-5Y LCH                   | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DIR              |  | GB        |         1 | NC      | $-49692.87    | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                                | SOLD EUR BOUGHT USD 20251002                            | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DFE              |  | N/A       |         1 | NC      | $-295237.97   | -0.04%            |  |  |  | No            |                  2 | On Loan: No      |
| ROYAL BANK OF CANADA                               | ROYAL BANK OF CANADA JR SUBORDINA 05/84 VAR             | CUSIP: 780082AR4<br>LEI: ES7IP3U3RHIGC71XBU11 | Long             | DBT              | CORP              | CA        |  12300000 | PA      | $12980423.70  | 1.60%             | 2084-05-02      | Floating      | 7.50%                 | No            |                  2 | On Loan: No      |
| N/A                                                | EURO-SCHATZ FUT   DEC25 XEUR 20251208                   | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DIR              |  | DE        |      -172 | NC      | $23402.73     | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| ERSTE GROUP BANK AG                                | ERSTE GROUP BANK AG JR SUBORDINA REGS 12/99 VAR         | CUSIP: BN13P8II9<br>LEI: PQOH26KWDF7CG10L6792 | Long             | DBT              | CORP              | AT        |   6800000 | PA      | $7995260.36   | 0.99%             | 2027-10-15      | Floating      | 4.25%                 | No            |                  2 | On Loan: No      |
| MITSUBISHI UFJ FINANCIAL GROUP INC (MUFG)          | MITSUBISHI UFJ FIN GRP JR SUBORDINA 12/99 VAR           | CUSIP: 606822DD3<br>LEI: 353800V2V8PUY9TK3E06 | Long             | DBT              | CORP              | JP        |   3900000 | PA      | $4292535.00   | 0.53%             | 2029-01-15      | Floating      | 8.20%                 | No            |                  2 | On Loan: No      |
| N/A                                                | RFR GBP SONIO/4.00000 09/17/25-10Y LCH                  | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DIR              |  | GB        |         1 | NC      | $209573.60    | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                                | SOLD GBP BOUGHT USD 20251002                            | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DFE              |  | GB        |         1 | NC      | $2509.03      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| COOPERATIEVE RABOBANK UA (AKA: RABOBANK NEDERLAND) | COOPERATIEVE RABOBANK UA JR SUBORDINA REGS 12/99 VAR    | CUSIP: ACI1X3FC8<br>LEI: DG3RU1DBUFHT4ZF9WN62 | Long             | DBT              | CORP              | NL        |   7200000 | PA      | $8169265.23   | 1.01%             | 2028-06-29      | Floating      | 3.10%                 | No            |                  2 | On Loan: No      |
| CAIXABANK SA (AKA: LA CAIXA)                       | CAIXABANK SA JR SUBORDINA REGS 12/99 VAR                | CUSIP: ACI2DD5W3<br>LEI: 7CUNS533WID6K7DGFI87 | Long             | DBT              | CORP              | ES        |   4200000 | PA      | $5547663.05   | 0.68%             | 2029-03-13      | Floating      | 8.25%                 | No            |                  2 | On Loan: No      |
| N/A                                                | SOLD EUR BOUGHT USD 20251002                            | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DFE              |  | N/A       |         1 | NC      | $-9573.15     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| SVENSKA HANDELSBANKEN AB                           | SVENSKA HANDELSBANKEN AB JR SUBORDINA REGS 12/99 VAR    | CUSIP: ACI1RWDZ2<br>LEI: NHBDILHZTYCNBV5UYZ31 | Long             | DBT              | CORP              | SE        |   2400000 | PA      | $2364290.11   | 0.29%             | 2027-03-01      | Floating      | 4.38%                 | No            |                  2 | On Loan: No      |
| BANCO SANTANDER SA                                 | BANCO SANTANDER SA BANCO SANTANDER SA                   | CUSIP: 05964HBH7<br>LEI: 5493006QMFDDMYWIAM13 | Long             | DBT              | CORP              | ES        |   4600000 | PA      | $5075253.60   | 0.63%             | 2034-02-01      | Floating      | 8.00%                 | No            |                  2 | On Loan: No      |
| N/A                                                | IRS EUR 2.00000 03/18/26-2Y LCH                         | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DIR              |  | N/A       |         1 | NC      | $-47465.70    | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                                | RFR USD SOFR/3.75000 09/17/25-2Y LCH                    | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DIR              |  | US        |         1 | NC      | $646.19       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                                | SOLD GBP BOUGHT USD 20251104                            | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DFE              |  | GB        |         1 | NC      | $-316537.76   | -0.04%            |  |  |  | No            |                  2 | On Loan: No      |
| UNITED STATES GOVT                                 | TREASURY BILL 10/25 0.00000                             | CUSIP: 912797RD1<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    479000 | PA      | $477925.17    | 0.06%             | 2025-10-21      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| HSBC HOLDINGS PLC                                  | HSBC HOLDINGS PLC HSBC HOLDINGS PLC                     | CUSIP: 404280EJ4<br>LEI: MLU0ZO3ML4LN2LL2TL39 | Long             | DBT              | CORP              | GB        |   2200000 | PA      | $2321008.80   | 0.29%             | 2034-03-11      | Floating      | 6.95%                 | No            |                  2 | On Loan: No      |
| AFRICAN DEVELOPMENT BANK                           | AFRICAN DEVELOPMENT BANK AFRICAN DEVELOPMENT BANK       | CUSIP: 008281BK2<br>LEI: 549300LNCLMO3ITVCU07 | Long             | DBT              | CORP              | N/A       |   2000000 | PA      | $2005000.00   | 0.25%             | 2035-05-07      | Floating      | 5.88%                 | No            |                  2 | On Loan: No      |
| ING GROEP NV                                       | ING GROEP NV ING GROEP NV                               | CUSIP: ACI2MS9X4<br>LEI: 549300NYKK9MWM7GGW15 | Long             | DBT              | CORP              | NL        |   7700000 | PA      | $8367461.33   | 1.03%             | 2030-05-16      | Floating      | 8.00%                 | No            |                  2 | On Loan: No      |
| METLIFE CAPITAL TRUST IV                           | METLIFE CAPITAL TRUST IV JR SUBORDINA 144A 12/67 7.875  | CUSIP: 591560AA5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   6100000 | PA      | $6832799.10   | 0.84%             | 2067-12-15      | Floating      | 7.88%                 | No            |                  2 | On Loan: No      |
| BANK OF IRELAND GROUP PLC                          | BANK OF IRELAND GROUP JR SUBORDINA REGS 12/99 VAR       | CUSIP: ACI2VK7P0<br>LEI: 635400C8EK6DRI12LJ39 | Long             | DBT              | CORP              | IE        |   1100000 | PA      | $1321428.48   | 0.16%             | 2032-03-18      | Floating      | 6.12%                 | No            |                  2 | On Loan: No      |
| ENBRIDGE INC                                       | ENBRIDGE INC SUBORDINATED 01/84 VAR                     | CUSIP: 29250NBT1<br>LEI: 98TPTUM4IVMFCZBCUR27 | Long             | DBT              | CORP              | CA        |   1759000 | PA      | $2016086.65   | 0.25%             | 2084-01-15      | Floating      | 8.50%                 | No            |                  2 | On Loan: No      |
| N/A                                                | US 10YR ULTRA FUT DEC25 XCBT 20251219                   | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DIR              |  | US        |       468 | NC      | $537711.56    | 0.07%             |  |  |  | No            |                  2 | On Loan: No      |
| THE BANK OF NOVA SCOTIA                            | BANK OF NOVA SCOTIA BANK OF NOVA SCOTIA                 | CUSIP: 06419GEE2<br>LEI: L3I9ZG2KFGXZ61BMYR72 | Long             | DBT              | CORP              | CA        |   2000000 | PA      | $1999038.20   | 0.25%             | 2085-10-27      | Floating      | 6.88%                 | No            |                  2 | On Loan: No      |
| N/A                                                | BOUGHT EUR SOLD USD 20251002                            | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DFE              |  | N/A       |         1 | NC      | $66134.29     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                                | RFR GBP SONIO/3.50000 09/17/25-2Y LCH                   | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DIR              |  | GB        |         1 | NC      | $24585.15     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| PNC FINANCIAL SERVICES GROUP INC                   | PNC FINANCIAL SERVICES JR SUBORDINA 12/99 VAR           | CUSIP: 693475BP9<br>LEI: CFGNEKW0P8842LEUIA51 | Long             | EP               | CORP              | US        |   3300000 | NS      | $3389958.00   | 0.42%             |  |  |  | No            |                  2 | On Loan: No      |
| SEMPRA                                             | SEMPRA JR SUBORDINA 04/55 VAR                           | CUSIP: 816851BU2<br>LEI: PBBKGKLRK5S5C0Y4T545 | Long             | DBT              | CORP              | US        |   2900000 | PA      | $2950421.89   | 0.36%             | 2055-04-01      | Floating      | 6.62%                 | No            |                  2 | On Loan: No      |
| UNITED STATES GOVT                                 | TREASURY BILL 01/26 0.00000                             | CUSIP: 912797SH1<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    275000 | PA      | $271556.69    | 0.03%             | 2026-01-27      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| N/A                                                | EURO-BUXL 30Y BND DEC25 XEUR 20251208                   | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DIR              |  | DE        |       -35 | NC      | $-106478.06   | -0.01%            |  |  |  | No            |                  1 | On Loan: No      |
| SEMPRA                                             | SEMPRA JR SUBORDINA 04/56 VAR                           | CUSIP: 816851BW8<br>LEI: PBBKGKLRK5S5C0Y4T545 | Long             | DBT              | CORP              | US        |   3300000 | PA      | $3388622.26   | 0.42%             | 2056-04-01      | Floating      | 6.38%                 | No            |                  2 | On Loan: No      |
| SOCIETE GENERALE                                   | SOCIETE GENERALE SOCIETE GENERALE                       | CUSIP: 83371GAA9<br>LEI: O2RNE8IBXP4R0TD8PU41 | Long             | DBT              | CORP              | FR        |   3400000 | PA      | $3771422.80   | 0.47%             | 2028-11-14      | Floating      | 10.00%                | No            |                  2 | On Loan: No      |
| AMERICAN ELECTRIC POWER COMPANY INC                | AMERICAN ELECTRIC POWER JR SUBORDINA 03/56 VAR          | CUSIP: 02557TAF6<br>LEI: 1B4S6S7G0TW5EE83BO58 | Long             | DBT              | CORP              | US        |   2000000 | PA      | $2007812.50   | 0.25%             | 2056-03-15      | Floating      | 6.05%                 | No            |                  2 | On Loan: No      |
| N/A                                                | US 2YR NOTE (CBT) DEC25 XCBT 20251231                   | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DIR              |  | US        |       122 | NC      | $-1816.89     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| SEMPRA                                             | SEMPRA JR SUBORDINA 12/99 VAR                           | CUSIP: 816851BK4<br>LEI: PBBKGKLRK5S5C0Y4T545 | Long             | EP               | CORP              | US        |   3700000 | NS      | $3701850.00   | 0.46%             |  |  |  | No            |                  2 | On Loan: No      |
| THE BANK OF NOVA SCOTIA                            | BANK OF NOVA SCOTIA JR SUBORDINA 04/85 VAR              | CUSIP: 0641598X7<br>LEI: L3I9ZG2KFGXZ61BMYR72 | Long             | DBT              | CORP              | CA        |   5200000 | PA      | $5432787.26   | 0.67%             | 2085-04-27      | Floating      | 7.35%                 | No            |                  2 | On Loan: No      |
| ABN AMRO BANK NV                                   | ABN AMRO BANK NV ABN AMRO BANK NV                       | CUSIP: ACI2QZY73<br>LEI: BFXS5XCH7N0Y05NIXW11 | Long             | DBT              | CORP              | NL        |   1200000 | PA      | $1500036.63   | 0.19%             | 2034-09-22      | Floating      | 6.38%                 | No            |                  2 | On Loan: No      |
| N/A                                                | SOLD GBP BOUGHT USD 20251002                            | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DFE              |  | GB        |         1 | NC      | $-91.90       | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| UBS GROUP AG                                       | UBS GROUP AG JR SUBORDINA REGS 12/99 VAR                | CUSIP: H42097ES2<br>LEI: 549300SZJ9VS8SGXAN81 | Long             | DBT              | CORP              | CH        |    700000 | PA      | $773985.80    | 0.10%             | 2028-11-13      | Floating      | 9.25%                 | No            |                  2 | On Loan: No      |
| BP CAPITAL MARKETS PLC                             | BP CAPITAL MARKETS PLC COMPANY GUAR 12/99 VAR           | CUSIP: 05565QDW5<br>LEI: 549300CRVT18MXX0AG93 | Long             | DBT              | CORP              | GB        |   3800000 | PA      | $4062291.20   | 0.50%             | 2033-12-01      | Floating      | 6.45%                 | No            |                  2 | On Loan: No      |
| N/A                                                | IRS EUR 3.00000 03/18/26-30Y LCH                        | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DIR              |  | N/A       |         1 | NC      | $-11949.52    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| JP MORGAN CHASE & CO                               | JPMORGAN CHASE + CO JR SUBORDINA 12/99 VAR              | CUSIP: 48128AAJ2<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | EP               | CORP              | US        |  15700000 | NS      | $16271166.00  | 2.01%             |  |  |  | No            |                  2 | On Loan: No      |
| ELECTRICITE DE FRANCE SA (EDF)                     | ELECTRICITE DE FRANCE SA JR SUBORDINA REGS 12/99 VAR    | CUSIP: ACI2R4GV8<br>LEI: 549300X3UK4GG3FNMO06 | Long             | DBT              | CORP              | FR        |    700000 | PA      | $961209.19    | 0.12%             | 2035-06-17      | Floating      | 7.38%                 | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS GROUP INC                            | GOLDMAN SACHS GROUP INC GOLDMAN SACHS GROUP INC         | CUSIP: 38141GA79<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | EP               | CORP              | US        |   7100000 | NS      | $7518261.00   | 0.93%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                                | RFR USD SOFR/3.75000 12/18/24-5Y LCH                    | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DIR              |  | US        |         1 | NC      | $-127204.16   | -0.02%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                                | BOUGHT EUR SOLD USD 20251002                            | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DFE              |  | N/A       |         1 | NC      | $28067.50     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| STATE STREET CORPORATION                           | STATE STREET CORP STATE STREET CORP                     | CUSIP: 857477CH4<br>LEI: 549300ZFEEJ2IP5VME73 | Long             | EP               | CORP              | US        |   6200000 | NS      | $6461330.00   | 0.80%             |  |  |  | No            |                  2 | On Loan: No      |
| BANK OF AMERICA CORPORATION                        | BANK OF AMERICA CORP JR SUBORDINA 12/99 VAR             | CUSIP: 06055HAH6<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | EP               | CORP              | US        |   7200000 | NS      | $7505568.00   | 0.93%             |  |  |  | No            |                  2 | On Loan: No      |
| SWISS RE SUBORDINATED FINANCE PLC                  | SWISS RE SUB FIN PLC COMPANY GUAR 144A 04/35 VAR        | CUSIP: 87088QAA2<br>LEI: 636700H29EH5Z8ZU8L04 | Long             | DBT              | CORP              | GB        |   2400000 | PA      | $2492352.70   | 0.31%             | 2035-04-05      | Floating      | 5.70%                 | No            |                  2 | On Loan: No      |
| WELLS FARGO & COMPANY                              | WELLS FARGO + COMPANY JR SUBORDINA 12/99 VAR            | CUSIP: 95002YAA1<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | EP               | CORP              | US        |   2300000 | NS      | $2467647.00   | 0.30%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                                | BOUGHT GBP SOLD USD 20251104                            | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DFE              |  | GB        |         1 | NC      | $342.23       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                                | REVERSE REPO CREDIT AGRICOLE 03/14 VAR                  | CUSIP: 000000000<br>LEI: N/A                  | Short            | RA               |  | US        |  -3041815 | PA      | $-3042186.30  | -0.38%            |  |  |  | No            |                  2 | On Loan: No      |
| NATIONWIDE BUILDING SOCIETY                        | NATIONWIDE BLDG SOCIETY JR SUBORDINA REGS 12/99 VAR     | CUSIP: ACI2XM0C0<br>LEI: 549300XFX12G42QIKN82 | Long             | DBT              | CORP              | GB        |   1500000 | PA      | $2092343.15   | 0.26%             | 2031-12-20      | Floating      | 7.88%                 | No            |                  2 | On Loan: No      |
| MORGAN STANLEY                                     | MORGAN STANLEY PREFERRED STOCK 4.875                    | CUSIP: 61762V804<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | EP               | CORP              | US        |    112700 | NS      | $2417415.00   | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                                | BOUGHT EUR SOLD USD 20251002                            | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DFE              |  | N/A       |         1 | NC      | $-355.39      | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                                | SOLD EUR BOUGHT USD 20251002                            | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DFE              |  | N/A       |         1 | NC      | $44.95        | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| COMMERZBANK AG                                     | COMMERZBANK AG JR SUBORDINA REGS 12/99 VAR              | CUSIP: ACI2XGH43<br>LEI: 851WYGNLUQLFZBSYGB56 | Long             | DBT              | CORP              | DE        |   2800000 | PA      | $3467241.64   | 0.43%             | 2032-10-09      | Floating      | 6.62%                 | No            |                  2 | On Loan: No      |
| CREDIT AGRICOLE ASSURANCES                         | CREDIT AGRICOLE ASSRNCES JR SUBORDINA REGS 12/99 VAR    | CUSIP: ACI2VLXJ3<br>LEI: 969500K2MUPSI57XK083 | Long             | DBT              | CORP              | FR        |   2200000 | PA      | $2711540.45   | 0.33%             | 2035-06-17      | Floating      | 6.25%                 | No            |                  2 | On Loan: No      |
| BANK OF NEW YORK MELLON CORP (BNY MELLON)          | BANK OF NY MELLON CORP JR SUBORDINA 12/49 VAR           | CUSIP: 064058AF7<br>LEI: WFLLPEPC7FZXENRZV188 | Long             | EP               | CORP              | US        |   2200000 | NS      | $2187130.00   | 0.27%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                                | SOLD EUR BOUGHT USD 20251002                            | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DFE              |  | N/A       |         1 | NC      | $-19994.82    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| CREDIT AGRICOLE SA                                 | CREDIT AGRICOLE SA JR SUBORDINA REGS 12/99 VAR          | CUSIP: ACI2TX8N9<br>LEI: 969500TJ5KRTCJQWXH05 | Long             | DBT              | CORP              | FR        |   2500000 | PA      | $2986149.43   | 0.37%             | 2035-03-23      | Floating      | 5.88%                 | No            |                  2 | On Loan: No      |
| METLIFE INC                                        | METLIFE INC PREFERRED STOCK 4.75                        | CUSIP: 59156R850<br>LEI: C4BXATY60WC6XEOZDX54 | Long             | EP               | CORP              | US        |    103400 | NS      | $2156924.00   | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                                | REVERSE REPO BANK OF AMERICA REVERSE REPO               | CUSIP: 000000000<br>LEI: N/A                  | Short            | RA               |  | US        |  -8721000 | PA      | $-8743047.18  | -1.08%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                                | BOUGHT GBP SOLD USD 20251104                            | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DFE              |  | GB        |         1 | NC      | $-2570.81     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                                | US 10YR NOTE (CBT)DEC25 XCBT 20251219                   | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DIR              |  | US        |       -50 | NC      | $-40.27       | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| GROUPE DES ASSURANCES DU CREDIT MUTUEL             | GROUPE ACM 10/44 1                                      | CUSIP: ACI2NW2N3<br>LEI: 96950090CGKLVXEKWF10 | Long             | DBT              | CORP              | FR        |   1100000 | PA      | $1352770.47   | 0.17%             | 2044-10-30      | Floating      | 5.00%                 | No            |                  2 | On Loan: No      |
| N/A                                                | REVERSE REPO JPM CHASE                                  | CUSIP: 000000000<br>LEI: N/A                  | Short            | RA               |  | US        |  -2307404 | PA      | $-2310095.97  | -0.29%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                                | BOUGHT EUR SOLD USD 20251002                            | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DFE              |  | N/A       |         1 | NC      | $8887.92      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS GROUP INC                            | GOLDMAN SACHS GROUP INC JR SUBORDINA 12/99 VAR          | CUSIP: 38141GC28<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | EP               | CORP              | US        |   1800000 | NS      | $1872828.00   | 0.23%             |  |  |  | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS GROUP INC                            | GOLDMAN SACHS GROUP INC JR SUBORDINA 12/99 VAR          | CUSIP: 38141GB52<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | EP               | CORP              | US        |   7200000 | NS      | $7338096.00   | 0.91%             |  |  |  | No            |                  2 | On Loan: No      |
| DOMINION ENERGY INC                                | DOMINION ENERGY INC JR SUBORDINA 06/54 VAR              | CUSIP: 25746UDU0<br>LEI: ILUL7B6Z54MRYCF6H308 | Long             | DBT              | CORP              | US        |   3800000 | PA      | $4126142.60   | 0.51%             | 2054-06-01      | Floating      | 7.00%                 | No            |                  2 | On Loan: No      |
| USB REALTY CORP                                    | USB REALTY CORP JR SUBORDINA 144A 12/49 VAR             | CUSIP: 903312AA4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   6567000 | PA      | $5306787.45   | 0.66%             | 2027-01-15      | Floating      | 5.73%                 | No            |                  2 | On Loan: No      |
| BBVA BANCOMER SA/TAXAS BRANCH                      | BBVA BANCOMER SA TEXAS BBVA BANCOMER SA TEXAS           | CUSIP: 07336UAB9<br>LEI: 549300WIWQK5Q9MCUN92 | Long             | DBT              | CORP              | MX        |   5600000 | PA      | $6109577.60   | 0.75%             | 2039-01-08      | Floating      | 8.12%                 | No            |                  2 | On Loan: No      |
| N/A                                                | BOUGHT EUR SOLD USD 20251002                            | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DFE              |  | N/A       |         1 | NC      | $1708.63      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| CMS ENERGY CORPORATION                             | CMS ENERGY CORP JR SUBORDINA 06/55 VAR                  | CUSIP: 125896BY5<br>LEI: 549300IA9XFBAGNIBW29 | Long             | DBT              | CORP              | US        |   2000000 | PA      | $2072758.02   | 0.26%             | 2055-06-01      | Floating      | 6.50%                 | No            |                  2 | On Loan: No      |
| COOPERATIEVE RABOBANK UA (AKA: RABOBANK NEDERLAND) | COOPERATIEVE RABOBANK UA JR SUBORDINA REGS 12/99 VAR    | CUSIP: ACI1FB0Z5<br>LEI: DG3RU1DBUFHT4ZF9WN62 | Long             | DBT              | CORP              | NL        |   1000000 | PA      | $1162310.16   | 0.14%             | 2026-12-29      | Floating      | 3.25%                 | No            |                  2 | On Loan: No      |
| NATWEST GROUP PLC                                  | NATWEST GROUP PLC JR SUBORDINA 12/99 VAR                | CUSIP: ACI1SQVK7<br>LEI: 2138005O9XJIJN4JPN90 | Long             | DBT              | CORP              | GB        |   1500000 | PA      | $1992535.81   | 0.25%             | 2027-05-12      | Floating      | 5.12%                 | No            |                  2 | On Loan: No      |
| BNP PARIBAS                                        | BNP PARIBAS BNP PARIBAS                                 | CUSIP: 05602XJC3<br>LEI: R0MUWSFPU8MPRO8K5P83 | Long             | DBT              | CORP              | FR        |   2500000 | PA      | $2618832.50   | 0.32%             | 2034-09-10      | Floating      | 7.38%                 | No            |                  2 | On Loan: No      |
| N/A                                                | SOLD GBP BOUGHT USD 20251002                            | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DFE              |  | GB        |         1 | NC      | $2582.77      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| NATWEST GROUP PLC                                  | NATWEST GROUP PLC JR SUBORDINA 12/99 VAR                | CUSIP: 639057AQ1<br>LEI: 2138005O9XJIJN4JPN90 | Long             | DBT              | CORP              | GB        |   4800000 | PA      | $5411304.00   | 0.67%             | 2033-11-10      | Floating      | 8.12%                 | No            |                  2 | On Loan: No      |
| DNB BANK ASA                                       | DNB BANK ASA DNB BANK ASA                               | CUSIP: ACI2P8HB4<br>LEI: 549300GKFG0RYRRQ1414 | Long             | DBT              | CORP              | NO        |   5200000 | PA      | $5482750.00   | 0.68%             | 2029-05-30      | Floating      | 7.38%                 | No            |                  2 | On Loan: No      |
| N/A                                                | IRS EUR 2.50000 03/18/26-5Y LCH                         | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DIR              |  | N/A       |         1 | NC      | $7879.16      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| AMERICAN ELECTRIC POWER COMPANY INC                | AMERICAN ELECTRIC POWER AMERICAN ELECTRIC POWER         | CUSIP: 025537AZ4<br>LEI: 1B4S6S7G0TW5EE83BO58 | Long             | DBT              | CORP              | US        |   2100000 | PA      | $2205182.70   | 0.27%             | 2054-12-15      | Floating      | 7.05%                 | No            |                  2 | On Loan: No      |
| UBS GROUP AG                                       | UBS GROUP AG JR SUBORDINA 144A 12/99 VAR                | CUSIP: 902613BE7<br>LEI: 549300SZJ9VS8SGXAN81 | Long             | DBT              | CORP              | CH        |  11900000 | PA      | $14188512.80  | 1.75%             | 2033-11-13      | Floating      | 9.25%                 | No            |                  2 | On Loan: No      |
| HSBC HOLDINGS PLC                                  | HSBC HOLDINGS PLC JR SUBORDINA 12/99 VAR                | CUSIP: 404280EH8<br>LEI: MLU0ZO3ML4LN2LL2TL39 | Long             | DBT              | CORP              | GB        |   2100000 | PA      | $2185008.00   | 0.27%             | 2029-09-11      | Floating      | 6.88%                 | No            |                  2 | On Loan: No      |
| N/A                                                | REVERSE REPO BANK OF NEW YORK                           | CUSIP: 000000000<br>LEI: N/A                  | Short            | RA               |  | US        |  -1450800 | PA      | $-1452371.70  | -0.18%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                                | BOUGHT EUR SOLD USD 20251002                            | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DFE              |  | N/A       |         1 | NC      | $1215.67      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| WELLS FARGO & COMPANY                              | WELLS FARGO + COMPANY PREFERRED STOCK 4.75              | CUSIP: 94988U151<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | EP               | CORP              | US        |     63000 | NS      | $1243620.00   | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| SOCIETE GENERALE                                   | SOCIETE GENERALE JR SUBORDINA 144A 12/99 VAR            | CUSIP: 83370RAC2<br>LEI: O2RNE8IBXP4R0TD8PU41 | Long             | DBT              | CORP              | FR        |    900000 | PA      | $966234.60    | 0.12%             | 2027-11-22      | Floating      | 9.38%                 | No            |                  2 | On Loan: No      |
| ASR NEDERLAND NV                                   | ASR NEDERLAND NV JR SUBORDINA REGS 12/99 VAR            | CUSIP: ACI2W0CT9<br>LEI: 7245000G0HS48PZWUD53 | Long             | DBT              | CORP              | NL        |   3500000 | PA      | $4370571.12   | 0.54%             | 2035-04-02      | Floating      | 6.50%                 | No            |                  2 | On Loan: No      |
| N/A                                                | SOLD GBP BOUGHT USD 20251002                            | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DFE              |  | GB        |         1 | NC      | $-337.75      | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                                | SOLD EUR BOUGHT USD 20251104                            | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DFE              |  | N/A       |         1 | NC      | $75216.47     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| WELLS FARGO & COMPANY                              | WELLS FARGO + COMPANY PREFERRED STOCK 4.25              | CUSIP: 95002Y400<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | EP               | CORP              | US        |    129900 | NS      | $2308323.00   | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| PNC FINANCIAL SERVICES GROUP INC                   | PNC FINANCIAL SERVICES JR SUBORDINA 12/99 VAR           | CUSIP: 693475BC8<br>LEI: CFGNEKW0P8842LEUIA51 | Long             | EP               | CORP              | US        |  10500000 | NS      | $10194555.00  | 1.26%             |  |  |  | No            |                  2 | On Loan: No      |
| AMERICAN EXPRESS COMPANY                           | AMERICAN EXPRESS CO JR SUBORDINA 12/99 VAR              | CUSIP: 025816CH0<br>LEI: R4PP93JZOLY261QX3811 | Long             | EP               | CORP              | US        |   5350000 | NS      | $5249794.50   | 0.65%             |  |  |  | No            |                  2 | On Loan: No      |
| LIBERTY MUTUAL GROUP INC                           | LIBERTY MUTUAL GROUP INC COMPANY GUAR 144A 12/51 VAR    | CUSIP: 53079EBM5<br>LEI: QUR0DG15Z6FFGYCHH861 | Long             | DBT              | CORP              | US        |   5500000 | PA      | $5403215.68   | 0.67%             | 2051-12-15      | Floating      | 4.12%                 | No            |                  2 | On Loan: No      |
| N/A                                                | REVERSE REPO SOCIETE GENERALE REVERSE REPO              | CUSIP: 000000000<br>LEI: N/A                  | Short            | RA               |  | US        |  -7098673 | PA      | $-7138991.07  | -0.88%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                                | BOUGHT EUR SOLD USD 20251002                            | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DFE              |  | N/A       |         1 | NC      | $-144578.85   | -0.02%            |  |  |  | No            |                  2 | On Loan: No      |
| AGENCE FRANCE LOCALE                               | AGENCE FRANCE LOCALE JR SUBORDINA 144A REGS 12/99 V     | CUSIP: ACI2SNH69<br>LEI: 969500NMI4UP00IO8G47 | Long             | DBT              | MUN               | FR        |   2000000 | PA      | $2560956.71   | 0.32%             | 2031-06-17      | Floating      | 7.00%                 | No            |                  2 | On Loan: No      |
| SVB FINANCIAL TRUST                                | SVB FINL TR                                             | CUSIP: 000000000<br>LEI: N/A                  | Long             | EP               | CORP              | US        |   1528000 | NS      | $183360.00    | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| EDISON INTERNATIONAL                               | EDISON INTERNATIONAL JR SUBORDINA 12/99 VAR             | CUSIP: 281020AT4<br>LEI: 549300I7ROF15MAEVP56 | Long             | EP               | CORP              | US        |   4100000 | NS      | $3902380.00   | 0.48%             |  |  |  | No            |                  2 | On Loan: No      |
| TRUIST FINANCIAL CORPORATION                       | TRUIST FINANCIAL CORP JR SUBORDINA 12/99 VAR            | CUSIP: 89832QAF6<br>LEI: 549300DRQQI75D2JP341 | Long             | EP               | CORP              | US        |   4900000 | NS      | $4900343.00   | 0.60%             |  |  |  | No            |                  2 | On Loan: No      |
| THE DAI-ICHI LIFE INSURANCE COMPANY LIMITED        | DAI ICHI LIFE INSURANCE SUBORDINATED 144A 12/99 VAR     | CUSIP: 23381LAA2<br>LEI: 3538001235ACEIORUV72 | Long             | DBT              | CORP              | JP        |   4300000 | PA      | $4472976.10   | 0.55%             | 2035-01-16      | Floating      | 6.20%                 | No            |                  2 | On Loan: No      |
| CAIXABANK SA (AKA: LA CAIXA)                       | CAIXABANK SA JR SUBORDINA REGS 12/99 VAR                | CUSIP: ACI2MB1B7<br>LEI: 7CUNS533WID6K7DGFI87 | Long             | DBT              | CORP              | ES        |   1800000 | PA      | $2355138.35   | 0.29%             | 2030-01-16      | Floating      | 7.50%                 | No            |                  2 | On Loan: No      |
| CHARLES SCHWAB CORP/THE                            | CHARLES SCHWAB CORP JR SUBORDINA 12/99 VAR              | CUSIP: 808513BJ3<br>LEI: 549300VSGCJ7E698NM85 | Long             | EP               | CORP              | US        |  11900000 | NS      | $11192545.00  | 1.38%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                                | EURO-BOBL FUTURE  DEC25 XEUR 20251208                   | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DIR              |  | DE        |      -100 | NC      | $8789.69      | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| DEUTSCHE BANK AKTIENGESELLSCHAFT                   | DEUTSCHE BANK AG JR SUBORDINA REGS VAR                  | CUSIP: BMV877II9<br>LEI: 7LTWFZYICNSX8D621K86 | Long             | DBT              | CORP              | DE        |   1400000 | PA      | $1621830.65   | 0.20%             | 2027-10-30      | Floating      | 4.62%                 | No            |                  2 | On Loan: No      |
| DEUTSCHE BANK AKTIENGESELLSCHAFT                   | DEUTSCHE BANK AG 12/99 1                                | CUSIP: ACI2PD799<br>LEI: 7LTWFZYICNSX8D621K86 | Long             | DBT              | CORP              | DE        |   3200000 | PA      | $4108407.14   | 0.51%             | 2029-10-30      | Floating      | 8.12%                 | No            |                  2 | On Loan: No      |
| NN GROUP NV                                        | NN GROUP NV JR SUBORDINA REGS 12/99 VAR                 | CUSIP: ACI2VD5C7<br>LEI: 724500OHYNDT9OY6Q215 | Long             | DBT              | CORP              | NL        |   3400000 | PA      | $4052742.58   | 0.50%             | 2034-09-11      | Floating      | 5.75%                 | No            |                  2 | On Loan: No      |
| NATWEST GROUP PLC                                  | NATWEST GROUP PLC JR SUBORDINA REGS 12/99 VAR           | CUSIP: ACI3077N6<br>LEI: 2138005O9XJIJN4JPN90 | Long             | DBT              | CORP              | GB        |   1500000 | PA      | $2035626.39   | 0.25%             | 2035-09-30      | Floating      | 7.62%                 | No            |                  2 | On Loan: No      |
| N/A                                                | SOLD GBP BOUGHT USD 20251002                            | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DFE              |  | GB        |         1 | NC      | $5400.34      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| BANCO SANTANDER SA                                 | BANCO SANTANDER SA BANCO SANTANDER SA                   | CUSIP: 05971KAQ2<br>LEI: 5493006QMFDDMYWIAM13 | Long             | DBT              | CORP              | ES        |   7000000 | PA      | $8452665.76   | 1.04%             | 2033-05-21      | Floating      | 9.62%                 | No            |                  2 | On Loan: No      |
| EQUITABLE HOLDINGS INC                             | EQUITABLE HOLDINGS INC JR SUBORDINA 03/55 VAR           | CUSIP: 29452EAD3<br>LEI: 549300FIBAKMNHPZ4009 | Long             | DBT              | CORP              | US        |   2000000 | PA      | $2086408.00   | 0.26%             | 2055-03-28      | Floating      | 6.70%                 | No            |                  2 | On Loan: No      |
| NIPPON LIFE INSURANCE COMPANY                      | NIPPON LIFE INSURANCE SUBORDINATED 144A 04/55 VAR       | CUSIP: 654579AP6<br>LEI: 549300Y0HHMFW3EVWY08 | Long             | DBT              | CORP              | JP        |   7500000 | PA      | $8082690.00   | 1.00%             | 2055-04-30      | Floating      | 6.50%                 | No            |                  2 | On Loan: No      |
| SCE TRUST VII                                      | SCE TRUST VII PREFERRED STOCK 7.5                       | CUSIP: 783892201<br>LEI: N/A                  | Long             | EP               | CORP              | US        |    168700 | NS      | $3975415.50   | 0.49%             |  |  |  | No            |                  2 | On Loan: No      |
| AIRCASTLE LIMITED                                  | AIRCASTLE LTD JR SUBORDINA 144A 12/99 VAR               | CUSIP: 00928QAW1<br>LEI: 549300PNK8AKY3OIKP58 | Long             | EP               | CORP              | BM        |   4000000 | NS      | $3982520.00   | 0.49%             |  |  |  | No            |                  2 | On Loan: No      |
| LLOYDS BANKING GROUP PLC                           | LLOYDS BANKING GROUP PLC JR SUBORDINA 12/99 VAR         | CUSIP: ACI2C83R8<br>LEI: 549300PPXHEU2JF0AM85 | Long             | DBT              | CORP              | GB        |   7400000 | PA      | $10555860.40  | 1.30%             | 2028-03-27      | Floating      | 8.50%                 | No            |                  2 | On Loan: No      |
| SAMPO PLC (AKA: SAMPO OYJ)                         | SAMPO OYJ JR SUBORDINA REGS 12/99 VAR                   | CUSIP: ACI30DB99<br>LEI: 743700UF3RL386WIDA22 | Long             | DBT              | CORP              | FI        |    400000 | PA      | $473130.68    | 0.06%             | 2035-03-24      | Floating      | 5.25%                 | No            |                  2 | On Loan: No      |
| AMERICAN AGCREDIT CORPORATION                      | AMER AGCREDIT ACA JR SUBORDINA 144A VAR                 | CUSIP: 02369GAA3<br>LEI: N/A                  | Long             | EP               | CORP              | US        |   5000000 | NS      | $4938350.00   | 0.61%             |  |  |  | No            |                  2 | On Loan: No      |
| COOPERATIEVE RABOBANK UA (AKA: RABOBANK NEDERLAND) | COOPERATIEVE RABOBANK UA JR SUBORDINA REGS 12/99 VAR    | CUSIP: ACI24Q0C3<br>LEI: DG3RU1DBUFHT4ZF9WN62 | Long             | DBT              | CORP              | NL        |   3000000 | PA      | $3569555.75   | 0.44%             | 2029-06-29      | Floating      | 4.88%                 | No            |                  2 | On Loan: No      |
| N/A                                                | US 5YR NOTE (CBT) DEC25 XCBT 20251231                   | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DIR              |  | US        |       442 | NC      | $116303.65    | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                                | SOLD EUR BOUGHT USD 20251002                            | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DFE              |  | N/A       |         1 | NC      | $-692671.21   | -0.09%            |  |  |  | No            |                  2 | On Loan: No      |
| CREDIT SUISSE GROUP AG                             | CS AT1 CLAIMS USH3698DDQ46 CREDIT SUISSE GROUP AG       | CUSIP: 952NPK007<br>LEI: 549300506SI9CRFV9Z86 | Long             | DBT              | CORP              | US        |  20650000 | PA      | $2684500.00   | 0.33%             | 2060-12-31      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| N/A                                                | RFR USD SOFR/3.50000 12/18/24-30Y LCH                   | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DIR              |  | US        |         1 | NC      | $83255.78     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| ING GROEP NV                                       | ING GROEP NV JR SUBORDINA 12/99 VAR                     | CUSIP: 456837BT9<br>LEI: 549300NYKK9MWM7GGW15 | Long             | DBT              | CORP              | NL        |   2500000 | PA      | $2580051.55   | 0.32%             | 2032-11-16      | Floating      | 7.00%                 | No            |                  2 | On Loan: No      |
| SYNCHRONY FINANCIAL                                | SYNCHRONY FINANCIAL PREFERRED STOCK VAR                 | CUSIP: 87165B400<br>LEI: 549300RS7EWPM9MA6C78 | Long             | EP               | CORP              | US        |     82500 | NS      | $2135100.00   | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| LLOYDS BANKING GROUP PLC                           | LLOYDS BANKING GROUP PLC JR SUBORDINA REGS 12/49 VAR    | CUSIP: ACI0808H1<br>LEI: 549300PPXHEU2JF0AM85 | Long             | DBT              | CORP              | GB        |   2400000 | PA      | $3399765.99   | 0.42%             | 2029-06-27      | Floating      | 7.88%                 | No            |                  2 | On Loan: No      |
| DEUTSCHE BANK AKTIENGESELLSCHAFT                   | DEUTSCHE BANK AG JR SUBORDINA REGS 12/99 VAR            | CUSIP: ACI2VYGS4<br>LEI: 7LTWFZYICNSX8D621K86 | Long             | DBT              | CORP              | DE        |   2400000 | PA      | $2976218.43   | 0.37%             | 2030-10-30      | Floating      | 7.12%                 | No            |                  2 | On Loan: No      |
| THE BANK OF NOVA SCOTIA                            | BANK OF NOVA SCOTIA BANK OF NOVA SCOTIA                 | CUSIP: 0641598V1<br>LEI: L3I9ZG2KFGXZ61BMYR72 | Long             | DBT              | CORP              | CA        |   2000000 | PA      | $2149478.00   | 0.27%             | 2084-01-27      | Floating      | 8.00%                 | No            |                  2 | On Loan: No      |
| N/A                                                | US ULTRA BOND CBT DEC25 XCBT 20251219                   | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DIR              |  | US        |       409 | NC      | $1293955.61   | 0.16%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                                | BOUGHT GBP SOLD USD 20251104                            | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DFE              |  | GB        |         1 | NC      | $-2501.55     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                                | BOUGHT EUR SOLD USD 20251002                            | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DFE              |  | N/A       |         1 | NC      | $-79.94       | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| COREBRIDGE FINANCIAL INC                           | COREBRIDGE FINANCIAL INC JR SUBORDINA 12/52 VAR         | CUSIP: 21871XAP4<br>LEI: 549300XY1661QCIA7J65 | Long             | DBT              | CORP              | US        |   6100000 | PA      | $6257058.41   | 0.77%             | 2052-12-15      | Floating      | 6.88%                 | No            |                  2 | On Loan: No      |
| JP MORGAN CHASE & CO                               | JPMORGAN CHASE + CO PREFERRED STOCK 4.2                 | CUSIP: 48128B523<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | EP               | CORP              | US        |     62600 | NS      | $1181888.00   | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| PRUDENTIAL FINANCIAL INC                           | PRUDENTIAL FINANCIAL INC 03/54 1                        | CUSIP: 744320BP6<br>LEI: 5PRBRS5FEH7NREC8OR45 | Long             | DBT              | CORP              | US        |   3000000 | PA      | $3214749.00   | 0.40%             | 2054-03-15      | Floating      | 6.50%                 | No            |                  2 | On Loan: No      |
| UBS GROUP AG                                       | UBS GROUP AG UBS GROUP AG                               | CUSIP: 902613BN7<br>LEI: 549300SZJ9VS8SGXAN81 | Long             | DBT              | CORP              | CH        |   2800000 | PA      | $2897840.40   | 0.36%             | 2029-09-10      | Floating      | 6.85%                 | No            |                  2 | On Loan: No      |
| N/A                                                | BOUGHT GBP SOLD USD 20251104                            | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DFE              |  | GB        |         1 | NC      | $1671.59      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| NATWEST GROUP PLC                                  | NATWEST GROUP PLC JR SUBORDINA 12/99 VAR                | CUSIP: ACI2V7XV7<br>LEI: 2138005O9XJIJN4JPN90 | Long             | DBT              | CORP              | GB        |   7000000 | PA      | $9590795.51   | 1.18%             | 2032-02-28      | Floating      | 7.50%                 | No            |                  2 | On Loan: No      |
| SOUTHERN CO                                        | SOUTHERN CO JR SUBORDINA 03/55 VAR                      | CUSIP: 842587EB9<br>LEI: 549300FC3G3YU2FBZD92 | Long             | DBT              | CORP              | US        |   2000000 | PA      | $2132654.00   | 0.26%             | 2055-03-15      | Floating      | 6.38%                 | No            |                  2 | On Loan: No      |
| ELECTRICITE DE FRANCE SA (EDF)                     | ELECTRICITE DE FRANCE SA JR SUBORDINA 144A 12/99 VAR    | CUSIP: 28504KAA5<br>LEI: 549300X3UK4GG3FNMO06 | Long             | DBT              | CORP              | FR        |   4200000 | PA      | $4872936.60   | 0.60%             | 2033-03-15      | Floating      | 9.12%                 | No            |                  2 | On Loan: No      |
| BANCO BILBAO VIZCAYA ARGENTARIA SA (BBVA)          | BANCO BILBAO VIZCAYA ARG JR SUBORDINA REGS VAR          | CUSIP: ACI2PFDD8<br>LEI: K8MS7FD7N5Z2WQ51AZ71 | Long             | DBT              | CORP              | ES        |   1800000 | PA      | $2284590.35   | 0.28%             | 2030-12-13      | Floating      | 6.88%                 | No            |                  2 | On Loan: No      |
| NATIONWIDE BUILDING SOCIETY                        | NATIONWIDE BUILDING SOC CCDS COMMON STOCK               | CUSIP: ACI07BWB4<br>LEI: 549300XFX12G42QIKN82 | Long             | EP               | CORP              | GB        |     35604 | NS      | $6211389.66   | 0.77%             |  |  |  | No            |                  2 | On Loan: No      |
| UNITED STATES GOVT                                 | TREASURY BILL 01/26 0.00000                             | CUSIP: 912797SF5<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    861000 | PA      | $851502.53    | 0.11%             | 2026-01-13      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| N/A                                                | BOUGHT GBP SOLD USD 20251002                            | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DFE              |  | GB        |         1 | NC      | $316570.66    | 0.04%             |  |  |  | No            |                  2 | On Loan: No      |
| BANCO SANTANDER SA                                 | BANCO SANTANDER SA BANCO SANTANDER SA                   | CUSIP: 05971KAP4<br>LEI: 5493006QMFDDMYWIAM13 | Long             | DBT              | CORP              | ES        |   2400000 | PA      | $2692612.80   | 0.33%             | 2028-11-21      | Floating      | 9.62%                 | No            |                  2 | On Loan: No      |
| N/A                                                | SOLD AUD BOUGHT USD 20251002                            | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DFE              |  | AU        |         1 | NC      | $-6309.70     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| CREDIT SUISSE GROUP AG                             | CS AT1 CLAIMS US225401AL29 CREDIT SUISSE GROUP AG       | CUSIP: 952NPL005<br>LEI: 549300506SI9CRFV9Z86 | Long             | DBT              | CORP              | US        |  21800000 | PA      | $2834000.00   | 0.35%             | 2060-12-31      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| AIB GROUP PLC (AKA: ALLIED IRISH BANKS)            | AIB GROUP PLC JR SUBORDINA REGS 12/99 VAR               | CUSIP: ACI2T0DH8<br>LEI: 635400AKJBGNS5WNQL34 | Long             | DBT              | CORP              | IE        |   2000000 | PA      | $2402292.57   | 0.30%             | 2031-07-14      | Floating      | 6.00%                 | No            |                  2 | On Loan: No      |
| N/A                                                | SOLD GBP BOUGHT USD 20251002                            | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DFE              |  | GB        |         1 | NC      | $-1671.76     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                                | RFR USD SOFR/3.75000 12/18/24-2Y LCH                    | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DIR              |  | US        |         1 | NC      | $-2490.98     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                                | RFR USD SOFR/3.25000 06/18/25-30Y LCH                   | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DIR              |  | US        |         1 | NC      | $-258357.04   | -0.03%            |  |  |  | No            |                  2 | On Loan: No      |
| BANK OF MONTREAL                                   | BANK OF MONTREAL BANK OF MONTREAL                       | CUSIP: 06368L5Q5<br>LEI: NQQ6HPCNCCU6TUTQYE16 | Long             | DBT              | CORP              | CA        |   2100000 | PA      | $2231974.50   | 0.28%             | 2084-11-26      | Floating      | 7.30%                 | No            |                  2 | On Loan: No      |
| PRUDENTIAL FINANCIAL INC                           | PRUDENTIAL FINANCIAL INC JR SUBORDINA 09/52 VAR         | CUSIP: 744320BK7<br>LEI: 5PRBRS5FEH7NREC8OR45 | Long             | DBT              | CORP              | US        |   8600000 | PA      | $8959153.20   | 1.11%             | 2052-09-01      | Floating      | 6.00%                 | No            |                  2 | On Loan: No      |
| HUNTINGTON BANCSHARES INCORPORATED                 | HUNTINGTON BANCSHARES HUNTINGTON BANCSHARES             | CUSIP: 446150BG8<br>LEI: 549300XTVCVV9I7B5T19 | Long             | EP               | CORP              | US        |   2000000 | NS      | $1998160.00   | 0.25%             |  |  |  | No            |                  2 | On Loan: No      |
| BANCO MERCANTIL DEL NORTE SA/ GRAND CAYMAN BRANCH  | BANCO MERCANTIL DE NORTE JR SUBORDINA REGS VAR          | CUSIP: P1400MAC2<br>LEI: 549300QTVYRPFHS0J362 | Long             | DBT              | CORP              | MX        |   8600000 | PA      | $9202326.80   | 1.14%             | 2030-10-14      | Floating      | 8.38%                 | No            |                  2 | On Loan: No      |
| DEUTSCHE BANK AKTIENGESELLSCHAFT                   | DEUTSCHE BANK AG JR SUBORDINA REGS 12/99 VAR            | CUSIP: ACI2S6Y42<br>LEI: 7LTWFZYICNSX8D621K86 | Long             | DBT              | CORP              | DE        |   1600000 | PA      | $2025927.73   | 0.25%             | 2031-10-30      | Floating      | 7.38%                 | No            |                  2 | On Loan: No      |
| N/A                                                | EURO-BUND FUTURE  DEC25 XEUR 20251208                   | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DIR              |  | DE        |      -106 | NC      | $-94792.05    | -0.01%            |  |  |  | No            |                  1 | On Loan: No      |
| COMMERZBANK AG                                     | COMMERZBANK AG JR SUBORDINA REGS 12/99 VAR              | CUSIP: ACI1R7WZ6<br>LEI: 851WYGNLUQLFZBSYGB56 | Long             | DBT              | CORP              | DE        |   1600000 | PA      | $2014885.08   | 0.25%             | 2029-10-09      | Floating      | 6.50%                 | No            |                  2 | On Loan: No      |
| TORONTO-DOMINION BANK                              | TORONTO DOMINION BANK JR SUBORDINA 10/82 VAR            | CUSIP: 89117F8Z5<br>LEI: PT3QB789TSUIDF371261 | Long             | DBT              | CORP              | CA        |   9100000 | PA      | $9630536.83   | 1.19%             | 2082-10-31      | Floating      | 8.12%                 | No            |                  2 | On Loan: No      |
| NEXTERA ENERGY CAPITAL HOLDINGS INC                | NEXTERA ENERGY CAPITAL NEXTERA ENERGY CAPITAL           | CUSIP: 65339KCW8<br>LEI: UMI46YPGBLUE4VGNNT48 | Long             | DBT              | CORP              | US        |   4200000 | PA      | $4351170.60   | 0.54%             | 2054-09-01      | Floating      | 6.70%                 | No            |                  2 | On Loan: No      |
| NORDEA BANK ABP                                    | NORDEA BANK ABP NORDEA BANK ABP                         | CUSIP: 65558RAK5<br>LEI: 529900ODI3047E2LIV03 | Long             | DBT              | CORP              | FI        |   1500000 | PA      | $1517994.00   | 0.19%             | 2031-09-25      | Floating      | 6.30%                 | No            |                  2 | On Loan: No      |
| COBANK ACB (AKA: COBANK AB)                        | COBANK ACB JR SUBORDINA 12/99 VAR                       | CUSIP: 19075QAG7<br>LEI: P0J8I7M2E0A77CKF1705 | Long             | EP               | NUSS              | US        |    225000 | NS      | $233730.00    | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| VENTURE GLOBAL LNG INC                             | VENTURE GLOBAL LNG INC JR SUBORDINA REGS 12/99 VAR      | CUSIP: U9220NAH4<br>LEI: 54930011XLBUWMQUC829 | Long             | EP               | CORP              | US        |   1500000 | NS      | $1486740.00   | 0.18%             |  |  |  | No            |                  2 | On Loan: No      |
| COOPERATIEVE RABOBANK UA (AKA: RABOBANK NEDERLAND) | COOPERATIEVE RABOBANK UA JR SUBORDINA REGS 12/49 VAR    | CUSIP: BJBQCWII7<br>LEI: DG3RU1DBUFHT4ZF9WN62 | Long             | EP               | CORP              | NL        |   5939725 | NS      | $8036375.01   | 0.99%             |  |  |  | No            |                  2 | On Loan: No      |
| KBC GROEP NV                                       | KBC GROUP NV JR SUBORDINA REGS 12/99 VAR                | CUSIP: ACI2R4CX8<br>LEI: 213800X3Q9LSAKRUWY91 | Long             | DBT              | CORP              | BE        |   1600000 | PA      | $1964763.45   | 0.24%             | 2031-09-17      | Floating      | 6.25%                 | No            |                  2 | On Loan: No      |
| INTESA SANPAOLO SPA                                | INTESA SANPAOLO SPA JR SUBORDINA REGS 12/99 VAR         | CUSIP: ACI2JKKB0<br>LEI: 2W8N8UU78PMDQKZENC08 | Long             | DBT              | CORP              | IT        |   7800000 | PA      | $10741939.26  | 1.33%             | 2029-09-07      | Floating      | 9.12%                 | No            |                  2 | On Loan: No      |
| BARCLAYS PLC                                       | BARCLAYS PLC BARCLAYS PLC                               | CUSIP: 06738ECN3<br>LEI: 213800LBQA1Y9L22JB70 | Long             | DBT              | CORP              | GB        |   6500000 | PA      | $7390968.00   | 0.91%             | 2029-12-15      | Floating      | 9.62%                 | No            |                  2 | On Loan: No      |
| N/A                                                | REVERSE REPO BARCLAYS REVERSE REPO                      | CUSIP: 000000000<br>LEI: N/A                  | Short            | RA               |  | US        |  -2160538 | PA      | $-2163526.24  | -0.27%            |  |  |  | No            |                  2 | On Loan: No      |
| COMPEER FINANCIAL ACA                              | COMPEER FINANCIAL ACA JR SUBORDINA 144A VAR             | CUSIP: 20453QAA0<br>LEI: 54930020HTACTODKHT04 | Long             | EP               | CORP              | US        |   5000000 | NS      | $4890024.50   | 0.60%             |  |  |  | No            |                  2 | On Loan: No      |
| ENERGY TRANSFER LP                                 | ENERGY TRANSFER LP JR SUBORDINA 02/56 VAR               | CUSIP: 29273VBG4<br>LEI: MTLVN9N7JE8MIBIJ1H73 | Long             | DBT              | CORP              | US        |   1600000 | PA      | $1594068.32   | 0.20%             | 2056-02-15      | Floating      | 6.50%                 | No            |                  2 | On Loan: No      |
| ABN AMRO BANK NV                                   | ABN AMRO BANK NV JR SUBORDINA REGS 12/99 VAR            | CUSIP: ACI2V0L86<br>LEI: BFXS5XCH7N0Y05NIXW11 | Long             | DBT              | CORP              | NL        |   1100000 | PA      | $1307344.51   | 0.16%             | 2033-09-22      | Floating      | 5.75%                 | No            |                  2 | On Loan: No      |
| MUTUELLE ASSURANCE TRAVAILLEUR MUTUALISTE          | MUTUELLE ASSUR TRAV SUBORDINATED REGS 02/36 4.625       | CUSIP: ACI2X8PL4<br>LEI: 969500TGV20DWSIW1W82 | Long             | DBT              | CORP              | FR        |   1800000 | PA      | $2188661.36   | 0.27%             | 2036-02-23      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| N/A                                                | SOLD EUR BOUGHT USD 20251104                            | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DFE              |  | N/A       |         1 | NC      | $-8819.67     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| DEUTSCHE BANK AKTIENGESELLSCHAFT                   | DEUTSCHE BANK AG JR SUBORDINA REGS 12/99 VAR            | CUSIP: ACI2B1022<br>LEI: 7LTWFZYICNSX8D621K86 | Long             | DBT              | CORP              | DE        |   4200000 | PA      | $5503589.66   | 0.68%             | 2027-12-01      | Floating      | 10.00%                | No            |                  2 | On Loan: No      |
| CENTERPOINT ENERGY INC                             | CENTERPOINT ENERGY INC CENTERPOINT ENERGY INC           | CUSIP: 15189TBJ5<br>LEI: 21TPXMRRHFKOBHDC8J74 | Long             | DBT              | CORP              | US        |   2600000 | PA      | $2764408.40   | 0.34%             | 2055-02-15      | Floating      | 6.85%                 | No            |                  2 | On Loan: No      |
| ERSTE GROUP BANK AG                                | ERSTE GROUP BANK AG JR SUBORDINA REGS 12/99 VAR         | CUSIP: ACI2JNG78<br>LEI: PQOH26KWDF7CG10L6792 | Long             | DBT              | CORP              | AT        |   2000000 | PA      | $2649764.25   | 0.33%             | 2028-10-15      | Floating      | 8.50%                 | No            |                  2 | On Loan: No      |
| N/A                                                | BOUGHT GBP SOLD USD 20251002                            | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DFE              |  | GB        |         1 | NC      | $1094.18      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                                | BOUGHT EUR SOLD USD 20251002                            | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DFE              |  | N/A       |         1 | NC      | $-74853.82    | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| BNP PARIBAS                                        | BNP PARIBAS BNP PARIBAS                                 | CUSIP: 05602XDJ4<br>LEI: R0MUWSFPU8MPRO8K5P83 | Long             | DBT              | CORP              | FR        |  10200000 | PA      | $11002281.00  | 1.36%             | 2031-08-22      | Floating      | 8.00%                 | No            |                  2 | On Loan: No      |
| UNITED STATES GOVT                                 | TREASURY BILL 12/25 0.00000                             | CUSIP: 912797QS9<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    525000 | PA      | $521366.65    | 0.06%             | 2025-12-04      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| JP MORGAN CHASE & CO                               | JPMORGAN CHASE + CO JR SUBORDINA 12/99 VAR              | CUSIP: 48128BAQ4<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | EP               | CORP              | US        |   5800000 | NS      | $6122306.00   | 0.76%             |  |  |  | No            |                  2 | On Loan: No      |
| AVIVA PLC                                          | AVIVA PLC JR SUBORDINA REGS 12/99 VAR                   | CUSIP: ACI2VYFS5<br>LEI: YF0Y5B0IB8SM0ZFG9G81 | Long             | DBT              | CORP              | GB        |   1300000 | PA      | $1825939.10   | 0.23%             | 2032-09-30      | Floating      | 7.75%                 | No            |                  2 | On Loan: No      |
| ENERGY TRANSFER LP                                 | ENERGY TRANSFER LP JR SUBORDINA 12/99 VAR               | CUSIP: 29273VAM2<br>LEI: MTLVN9N7JE8MIBIJ1H73 | Long             | EP               | CORP              | US        |   9200000 | NS      | $9541228.00   | 1.18%             |  |  |  | No            |                  2 | On Loan: No      |
| WELLS FARGO & COMPANY                              | WELLS FARGO + CO 12/99 1                                | CUSIP: 95002YAC7<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | EP               | CORP              | US        |   9900000 | NS      | $10425393.00  | 1.29%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                                | BOUGHT EUR SOLD USD 20251002                            | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DFE              |  | N/A       |         1 | NC      | $-538.10      | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| BANCO BILBAO VIZCAYA ARGENTARIA SA (BBVA)          | BANCO BILBAO VIZCAYA ARG JR SUBORDINA REGS VAR          | CUSIP: ACI2GR178<br>LEI: K8MS7FD7N5Z2WQ51AZ71 | Long             | DBT              | CORP              | ES        |   3000000 | PA      | $3912230.32   | 0.48%             | 2028-06-21      | Floating      | 8.38%                 | No            |                  2 | On Loan: No      |
| SUMITOMO MITSUI FINANCIAL GROUP INC                | SUMITOMO MITSUI FINL GRP 12/99 1                        | CUSIP: 86562MDK3<br>LEI: 35380028MYWPB6AUO129 | Long             | DBT              | CORP              | JP        |   1500000 | PA      | $1570180.50   | 0.19%             | 2034-06-05      | Floating      | 6.60%                 | No            |                  2 | On Loan: No      |
| TEXTRON FINANCIAL CORPORATION                      | TEXTRON FINANCIAL CORP JR SUBORDINA 144A 02/67 VAR      | CUSIP: 883199AR2<br>LEI: 4E8B2CNXPE5P5AY03O18 | Long             | DBT              | CORP              | US        |   6242000 | PA      | $5657432.71   | 0.70%             | 2067-02-15      | Floating      | 6.21%                 | No            |                  2 | On Loan: No      |
| CITIGROUP INC                                      | CITIGROUP INC JR SUBORDINA 12/99 VAR                    | CUSIP: 172967PE5<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | EP               | CORP              | US        |   7200000 | NS      | $7571304.00   | 0.93%             |  |  |  | No            |                  2 | On Loan: No      |
| MEIJI YASUDA LIFE INSURANCE COMPANY                | MEIJI YASUDA LIFE INSURA SUBORDINATED 144A 06/55 VAR    | CUSIP: 585270AE1<br>LEI: 549300SLU4LP6YMRLK07 | Long             | DBT              | CORP              | JP        |   1200000 | PA      | $1249522.80   | 0.15%             | 2055-06-11      | Floating      | 6.10%                 | No            |                  2 | On Loan: No      |
| BANCO BILBAO VIZCAYA ARGENTARIA SA (BBVA)          | BANCO BILBAO VIZCAYA ARG JR SUBORDINA 12/99 VAR         | CUSIP: 05946KAS0<br>LEI: K8MS7FD7N5Z2WQ51AZ71 | Long             | DBT              | CORP              | ES        |   2700000 | PA      | $2867178.60   | 0.35%             | 2032-01-14      | Floating      | 7.75%                 | No            |                  2 | On Loan: No      |
| GLOBAL ATLANTIC (FIN) COMPANY                      | GLOBAL ATLANTIC FIN CO COMPANY GUAR 144A 10/54 VAR      | CUSIP: 37959GAG2<br>LEI: 98450051B2E65CAA7E94 | Long             | DBT              | CORP              | US        |   3250000 | PA      | $3444184.25   | 0.43%             | 2054-10-15      | Floating      | 7.95%                 | No            |                  2 | On Loan: No      |
| N/A                                                | REVERSE REPO BANK OF NEW YORK                           | CUSIP: 000000000<br>LEI: N/A                  | Short            | RA               |  | US        |  -1919250 | PA      | $-1921681.05  | -0.24%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                                | REVERSE REPO SOCIETE GENERALE REVERSE REPO              | CUSIP: 000000000<br>LEI: N/A                  | Short            | RA               |  | US        |   -763119 | PA      | $-763542.96   | -0.09%            |  |  |  | No            |                  2 | On Loan: No      |
| AES CORPORATION                                    | AES CORP/THE AES CORP/THE                               | CUSIP: 00130HCK9<br>LEI: 2NUNNB7D43COUIRE5295 | Long             | DBT              | CORP              | US        |    900000 | PA      | $934272.90    | 0.12%             | 2055-01-15      | Floating      | 7.60%                 | No            |                  2 | On Loan: No      |
| PIMCO FUNDS                                        | PIMCO PRV SHORT TERM FLT III MUTUAL FUND                | CUSIP: 000000000<br>LEI: LWVQWTQCFH3YG7CVH718 | Long             | STIV             | RF                | US        |   4894177 | PA      | $47664391.58  | 5.88%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                                | REVERSE REPO SOCIETE GENERALE REVERSE REPO              | CUSIP: 000000000<br>LEI: N/A                  | Short            | RA               |  | US        |  -7974835 | PA      | $-8036658.63  | -0.99%            |  |  |  | No            |                  2 | On Loan: No      |
| KBC GROEP NV                                       | KBC GROUP NV JR SUBORDINA REGS 12/99 VAR                | CUSIP: ACI2JH1W2<br>LEI: 213800X3Q9LSAKRUWY91 | Long             | DBT              | CORP              | BE        |   6400000 | PA      | $8359240.72   | 1.03%             | 2028-09-05      | Floating      | 8.00%                 | No            |                  2 | On Loan: No      |
| UNITED STATES GOVT                                 | TREASURY BILL 10/25 0.00000                             | CUSIP: 912797RC3<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    195000 | PA      | $194715.90    | 0.02%             | 2025-10-14      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| N/A                                                | BOUGHT GBP SOLD USD 20251002                            | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DFE              |  | GB        |         1 | NC      | $-4054.21     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| SEMPRA                                             | SEMPRA SEMPRA                                           | CUSIP: 816851BT5<br>LEI: PBBKGKLRK5S5C0Y4T545 | Long             | DBT              | CORP              | US        |   1200000 | PA      | $1227846.00   | 0.15%             | 2054-10-01      | Floating      | 6.40%                 | No            |                  2 | On Loan: No      |
| NEXTERA ENERGY CAPITAL HOLDINGS INC                | NEXTERA ENERGY CAPITAL NEXTERA ENERGY CAPITAL           | CUSIP: 65339KDB3<br>LEI: UMI46YPGBLUE4VGNNT48 | Long             | DBT              | CORP              | US        |   5400000 | PA      | $5821853.40   | 0.72%             | 2054-06-15      | Floating      | 6.75%                 | No            |                  2 | On Loan: No      |
| TORONTO-DOMINION BANK                              | TORONTO DOMINION BANK JR SUBORDINA 07/84 VAR            | CUSIP: 89116CKP1<br>LEI: PT3QB789TSUIDF371261 | Long             | DBT              | CORP              | CA        |   2000000 | PA      | $2107920.00   | 0.26%             | 2084-07-31      | Floating      | 7.25%                 | No            |                  2 | On Loan: No      |
| AMERICAN ELECTRIC POWER COMPANY INC                | AMERICAN ELECTRIC POWER AMERICAN ELECTRIC POWER         | CUSIP: 025537BA8<br>LEI: 1B4S6S7G0TW5EE83BO58 | Long             | DBT              | CORP              | US        |   2100000 | PA      | $2277980.94   | 0.28%             | 2054-12-15      | Floating      | 6.95%                 | No            |                  2 | On Loan: No      |
| FARM CREDIT BANK OF TEXAS                          | FARM CREDIT BK OF TEXAS JR SUBORDINA 12/99 VAR          | CUSIP: 30767EAF6<br>LEI: V1EBJIOLRNYDHDF63Z33 | Long             | EP               | USGSE             | US        |   2400000 | NS      | $2521440.00   | 0.31%             |  |  |  | No            |                  2 | On Loan: No      |
| NATIONWIDE BUILDING SOCIETY                        | NATIONWIDE BLDG SOCIETY NATIONWIDE BLDG SOCIETY         | CUSIP: ACI2R3KS2<br>LEI: 549300XFX12G42QIKN82 | Long             | DBT              | CORP              | GB        |   1100000 | PA      | $1519599.22   | 0.19%             | 2030-12-20      | Floating      | 7.50%                 | No            |                  2 | On Loan: No      |
| NOMURA HOLDINGS INC                                | NOMURA HOLDINGS INC JR SUBORDINA 12/99 VAR              | CUSIP: 65535HCC1<br>LEI: 549300B3CEAHYG7K8164 | Long             | DBT              | CORP              | JP        |   2000000 | PA      | $2072772.00   | 0.26%             | 2030-07-15      | Floating      | 7.00%                 | No            |                  2 | On Loan: No      |
| JT INTERNATIONAL FINANCIAL SERVICES BV             | JT INTL FIN SERVICES BV COMPANY GUAR REGS 09/55 VAR     | CUSIP: ACI2ZXVQ9<br>LEI: 549300U2F0PG10VZUN93 | Long             | DBT              | CORP              | NL        |   1700000 | PA      | $1995775.99   | 0.25%             | 2055-09-04      | Floating      | 3.87%                 | No            |                  2 | On Loan: No      |
| N/A                                                | SOLD GBP BOUGHT USD 20251002                            | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DFE              |  | GB        |         1 | NC      | $19703.62     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| UBS GROUP AG                                       | UBS GROUP AG JR SUBORDINA 144A 12/99 VAR                | CUSIP: 902613BS6<br>LEI: 549300SZJ9VS8SGXAN81 | Long             | DBT              | CORP              | CH        |   2000000 | PA      | $2040918.00   | 0.25%             | 2035-02-05      | Floating      | 7.00%                 | No            |                  2 | On Loan: No      |
| UBS GROUP AG                                       | UBS GROUP AG UBS GROUP AG                               | CUSIP: 902613BF4<br>LEI: 549300SZJ9VS8SGXAN81 | Long             | DBT              | CORP              | CH        |   2900000 | PA      | $3206512.60   | 0.40%             | 2028-11-13      | Floating      | 9.25%                 | No            |                  2 | On Loan: No      |
| LA MONDIALE                                        | LA MONDIALE LA MONDIALE                                 | CUSIP: ACI2Q1950<br>LEI: 969500L0T16HX3R78P61 | Long             | DBT              | CORP              | FR        |   1900000 | PA      | $2376642.36   | 0.29%             | 2034-01-17      | Floating      | 6.75%                 | No            |                  2 | On Loan: No      |
| ENTERPRISE PRODUCTS OPERATING LLC                  | ENTERPRISE PRODUCTS OPER COMPANY GUAR 02/78 VAR         | CUSIP: 29379VBR3<br>LEI: 5493004LGN656HWLDA30 | Long             | DBT              | CORP              | US        |   3400000 | PA      | $3381215.68   | 0.42%             | 2078-02-15      | Floating      | 5.38%                 | No            |                  2 | On Loan: No      |
| ALLY FINANCIAL INC                                 | ALLY FINANCIAL INC JR SUBORDINA 12/99 VAR               | CUSIP: 02005NBN9<br>LEI: 549300JBN1OSM8YNAI90 | Long             | EP               | CORP              | US        |   2200000 | NS      | $2028950.00   | 0.25%             |  |  |  | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS GROUP INC                            | GOLDMAN SACHS GROUP INC JR SUBORDINA 12/99 VAR          | CUSIP: 38141GA38<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | EP               | CORP              | US        |   4200000 | NS      | $4471530.00   | 0.55%             |  |  |  | No            |                  2 | On Loan: No      |
| CANADIAN IMPERIAL BANK OF COMMERCE (CIBC)          | CANADIAN IMPERIAL BANK JR SUBORDINA 10/85 VAR           | CUSIP: 13607P7Y4<br>LEI: 2IGI19DL77OX0HC3ZE78 | Long             | DBT              | CORP              | CA        |   7300000 | PA      | $7505677.50   | 0.93%             | 2085-10-28      | Floating      | 7.00%                 | No            |                  2 | On Loan: No      |
| N/A                                                | RFR USD SOFR/1.75000 06/15/22-30Y LCH                   | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DIR              |  | US        |         1 | NC      | $-2017006.98  | -0.25%            |  |  |  | No            |                  2 | On Loan: No      |
| LIBERTY MUTUAL GROUP INC                           | LIBERTY MUTUAL GROUP INC COMPANY GUAR 144A 02/61 4.3    | CUSIP: 53079EBL7<br>LEI: QUR0DG15Z6FFGYCHH861 | Long             | DBT              | CORP              | US        |   4300000 | PA      | $2711726.50   | 0.33%             | 2061-02-01      | Fixed         | 4.30%                 | No            |                  2 | On Loan: No      |
| LEGAL & GENERAL GROUP PLC                          | LEGAL + GENERAL GROUP SUBORDINATED REGS 03/47 VAR       | CUSIP: ACI0T3452<br>LEI: 213800JH9QQWHLO99821 | Long             | DBT              | CORP              | GB        |   3900000 | PA      | $3932183.00   | 0.49%             | 2047-03-21      | Floating      | 5.25%                 | No            |                  2 | On Loan: No      |
| CHARLES SCHWAB CORP/THE                            | CHARLES SCHWAB CORP JR SUBORDINA 12/99 VAR              | CUSIP: 808513AR6<br>LEI: 549300VSGCJ7E698NM85 | Long             | EP               | CORP              | US        |   4675000 | NS      | $4602911.50   | 0.57%             |  |  |  | No            |                  2 | On Loan: No      |
| US BANCORP                                         | US BANCORP JR SUBORDINA 12/99 VAR                       | CUSIP: 902973AZ9<br>LEI: N1GZ7BBF3NP8GI976H15 | Long             | EP               | CORP              | US        |   4400000 | NS      | $4395864.00   | 0.54%             |  |  |  | No            |                  2 | On Loan: No      |
| ALFA BANK AO VIA ALFA BOND ISSUANCE PLC            | ALFA BANK (ALFA BOND) SUBORDINATED REGS 04/30 VAR       | CUSIP: ACI1G2134<br>LEI: 54930015QM0G7XTNYR27 | Long             | DBT              | CORP              | IE        |   5000000 | PA      | $300000.00    | 0.04%             | 2030-04-15      | Floating      | 5.95%                 | No            |                  3 | On Loan: No      |
| BANK OF AMERICA CORPORATION                        | BANK OF AMERICA CORP JR SUBORDINA 12/99 VAR             | CUSIP: 060505FL3<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | EP               | CORP              | US        |  25910000 | NS      | $26204337.60  | 3.24%             |  |  |  | No            |                  2 | On Loan: No      |
| AIB GROUP PLC (AKA: ALLIED IRISH BANKS)            | AIB GROUP PLC JR SUBORDINA REGS 12/99 VAR               | CUSIP: ACI2NVX76<br>LEI: 635400AKJBGNS5WNQL34 | Long             | DBT              | CORP              | IE        |   3200000 | PA      | $4034836.43   | 0.50%             | 2029-10-30      | Floating      | 7.12%                 | No            |                  2 | On Loan: No      |
| N/A                                                | RFR USD SOFR/3.25000 03/19/25-10Y LCH                   | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DIR              |  | US        |         1 | NC      | $1308496.84   | 0.16%             |  |  |  | No            |                  2 | On Loan: No      |
| SIERRA PACIFIC POWER COMPANY                       | SIERRA PACIFIC POWER CO JR SUBORDINA 12/55 VAR          | CUSIP: 826418BR5<br>LEI: QB888G5GSVGE1LD1WV84 | Long             | DBT              | CORP              | US        |   3200000 | PA      | $3206044.80   | 0.40%             | 2055-12-15      | Floating      | 6.20%                 | No            |                  2 | On Loan: No      |
| N/A                                                | SOLD EUR BOUGHT USD 20251104                            | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DFE              |  | N/A       |         1 | NC      | $145279.29    | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| JP MORGAN CHASE & CO                               | JPMORGAN CHASE + CO PREFERRED STOCK 4.625               | CUSIP: 48128B549<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | EP               | CORP              | US        |    171000 | NS      | $3466170.00   | 0.43%             |  |  |  | No            |                  1 | On Loan: No      |
| COMMERZBANK AG                                     | COMMERZBANK AG JR SUBORDINA REGS 12/99 VAR              | CUSIP: ACI2PSFK2<br>LEI: 851WYGNLUQLFZBSYGB56 | Long             | DBT              | CORP              | DE        |   2800000 | PA      | $3716495.29   | 0.46%             | 2031-10-09      | Floating      | 7.88%                 | No            |                  2 | On Loan: No      |
| N/A                                                | SOLD AUD BOUGHT USD 20251104                            | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DFE              |  | AU        |         1 | NC      | $-4250.74     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| DOMINION ENERGY INC                                | DOMINION ENERGY INC JR SUBORDINA 05/55 VAR              | CUSIP: 25746UDV8<br>LEI: ILUL7B6Z54MRYCF6H308 | Long             | DBT              | CORP              | US        |   2100000 | PA      | $2176278.24   | 0.27%             | 2055-05-15      | Floating      | 6.62%                 | No            |                  2 | On Loan: No      |
| N/A                                                | REVERSE REPO CREDIT AGRICOLE 03/14 VAR                  | CUSIP: 000000000<br>LEI: N/A                  | Short            | RA               |  | US        |  -3334246 | PA      | $-3340692.21  | -0.41%            |  |  |  | No            |                  2 | On Loan: No      |
| SOUTH JERSEY INDUSTRIES INC                        | SOUTH JERSEY INDUSTRIES JR SUBORDINA 04/31 5.02         | CUSIP: 838518AA6<br>LEI: 549300DJYWYT5VXLFA46 | Long             | DBT              | CORP              | US        |   6600000 | PA      | $5672841.31   | 0.70%             | 2031-04-15      | Variable      | 5.02%                 | No            |                  2 | On Loan: No      |
| CVS HEALTH CORPORATION                             | CVS HEALTH CORP JR SUBORDINA 03/55 VAR                  | CUSIP: 126650EH9<br>LEI: 549300EJG376EN5NQE29 | Long             | DBT              | CORP              | US        |   1500000 | PA      | $1577164.41   | 0.19%             | 2055-03-10      | Floating      | 7.00%                 | No            |                  2 | On Loan: No      |
| BARCLAYS PLC                                       | BARCLAYS PLC JR SUBORDINA REGS 12/99 VAR                | CUSIP: ACI2X73N6<br>LEI: 213800LBQA1Y9L22JB70 | Long             | DBT              | CORP              | GB        |   2600000 | PA      | $3687094.08   | 0.46%             | 2031-09-15      | Floating      | 8.38%                 | No            |                  2 | On Loan: No      |
| BEIGNET INVESTOR LLC                               | PROJECT BEIGNET SR SEC 144A PROJECT BEIGNET SR SEC 144A | CUSIP: 990AAXQG4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   5200000 | PA      | $5200000.00   | 0.64%             | 2049-06-01      | Fixed         | 6.85%                 | No            |                  3 | On Loan: No      |
| REINSURANCE GROUP OF AMERICA INCORPORATED          | REINSURANCE GRP OF AMER SUBORDINATED 09/55 VAR          | CUSIP: 759351AT6<br>LEI: LORM1GNEU1DKEW527V90 | Long             | DBT              | CORP              | US        |   2000000 | PA      | $2101132.00   | 0.26%             | 2055-09-15      | Floating      | 6.65%                 | No            |                  2 | On Loan: No      |
| BARCLAYS PLC                                       | BARCLAYS PLC BARCLAYS PLC                               | CUSIP: ACI2P1YC8<br>LEI: 213800LBQA1Y9L22JB70 | Long             | DBT              | CORP              | GB        |   6100000 | PA      | $8716711.72   | 1.08%             | 2030-06-15      | Floating      | 8.50%                 | No            |                  2 | On Loan: No      |
| BRIGHTHOUSE HOLDINGS LLC                           | BRIGHTHOUSE HLDGS LLC JR SUBORDINA 144A VAR             | CUSIP: 10924BAA5<br>LEI: N/A                  | Long             | EP               | CORP              | US        |   2000000 | NS      | $1775000.00   | 0.22%             |  |  |  | No            |                  2 | On Loan: No      |
| ROYAL BANK OF CANADA                               | ROYAL BANK OF CANADA JR SUBORDINA 08/85 VAR             | CUSIP: 780082AV5<br>LEI: ES7IP3U3RHIGC71XBU11 | Long             | DBT              | CORP              | CA        |   3900000 | PA      | $4027169.33   | 0.50%             | 2085-08-24      | Floating      | 6.75%                 | No            |                  2 | On Loan: No      |
| COREBRIDGE FINANCIAL INC                           | COREBRIDGE FINANCIAL INC COREBRIDGE FINANCIAL INC       | CUSIP: 21871XAT6<br>LEI: 549300XY1661QCIA7J65 | Long             | DBT              | CORP              | US        |   2200000 | PA      | $2261223.80   | 0.28%             | 2054-09-15      | Floating      | 6.38%                 | No            |                  2 | On Loan: No      |
| ABN AMRO BANK NV                                   | ABN AMRO BANK NV ABN AMRO BANK NV                       | CUSIP: ACI2N1YK2<br>LEI: BFXS5XCH7N0Y05NIXW11 | Long             | DBT              | CORP              | NL        |   4300000 | PA      | $5516047.74   | 0.68%             | 2031-09-22      | Floating      | 6.88%                 | No            |                  2 | On Loan: No      |
| MORGAN STANLEY                                     | MORGAN STANLEY PREFERRED STOCK 6.625                    | CUSIP: 61762V838<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | EP               | CORP              | US        |    129200 | NS      | $3347572.00   | 0.41%             |  |  |  | No            |                  1 | On Loan: No      |
| DEPOSITORY TRUST & CLEARING CORP (DTCC)            | DEPOSITORY TRUST + CLEAR JR SUBORDINA 144A 12/99 VAR    | CUSIP: 249670AB6<br>LEI: MLDY5N6PZ58ZE60QU102 | Long             | EP               | CORP              | US        |  10000000 | NS      | $9834900.00   | 1.21%             |  |  |  | No            |                  2 | On Loan: No      |
| CITIGROUP INC                                      | CITIGROUP INC JR SUBORDINA 12/99 VAR                    | CUSIP: 17327CAV5<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | EP               | CORP              | US        |  12700000 | NS      | $13061823.00  | 1.61%             |  |  |  | No            |                  2 | On Loan: No      |
| CITIGROUP INC                                      | CITIGROUP INC JR SUBORDINA 12/99 VAR                    | CUSIP: 17327CBC6<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | EP               | CORP              | US        |   2000000 | NS      | $2064800.00   | 0.25%             |  |  |  | No            |                  2 | On Loan: No      |
| BBVA BANCOMER SA/TAXAS BRANCH                      | BBVA BANCOMER SA TEXAS SUBORDINATED REGS 02/35 VAR      | CUSIP: P2000GAA1<br>LEI: 549300WIWQK5Q9MCUN92 | Long             | DBT              | CORP              | MX        |   3500000 | PA      | $3690750.00   | 0.46%             | 2035-02-11      | Floating      | 7.62%                 | No            |                  2 | On Loan: No      |
| CREDIT SUISSE GROUP AG                             | CS AT1 CLAIMS US225401AR98 CREDIT SUISSE GROUP AG       | CUSIP: 952NPGII8<br>LEI: 549300506SI9CRFV9Z86 | Long             | DBT              | CORP              | US        |  16100000 | PA      | $2093000.00   | 0.26%             | 2060-12-31      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| METLIFE INC                                        | METLIFE INC SUBORDINATED 03/55 VAR                      | CUSIP: 59156RCQ9<br>LEI: C4BXATY60WC6XEOZDX54 | Long             | DBT              | CORP              | US        |   2000000 | PA      | $2126792.00   | 0.26%             | 2055-03-15      | Floating      | 6.35%                 | No            |                  2 | On Loan: No      |
| FARM CREDIT BANK OF TEXAS                          | FARM CREDIT BK OF TEXAS FARM CREDIT BK OF TEXAS         | CUSIP: 30767EAE9<br>LEI: V1EBJIOLRNYDHDF63Z33 | Long             | EP               | USGSE             | US        |   4500000 | NS      | $4725450.00   | 0.58%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                                | BOUGHT AUD SOLD USD 20251002                            | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DFE              |  | AU        |         1 | NC      | $4254.49      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2025-11-26

**Name of Applicant:** PIMCO Funds

**Signature:** /s/ Bijal Parikh

**Name of Signer:** Bijal Parikh

**Title:** Treasurer