# EDGAR Filing Document

**Accession Number:** 0001426439
**File Stem:** 0000940400-25-014970
**Filing Date:** 2025-12
**Character Count:** 186018
**Document Hash:** dab4ca97feda082a44fa64c6358abea0
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000940400-25-014970.hdr.sgml**: 20251229

**ACCESSION NUMBER**: 0000940400-25-014970

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20251031

**FILED AS OF DATE**: 20251229

**DATE AS OF CHANGE**: 20251229

**PERIOD START**: 20260430

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** New York Life Investments Active ETF Trust
- **CENTRAL INDEX KEY:** 0001426439

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 0430

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-22739
- **FILM NUMBER:** 251606655

**BUSINESS ADDRESS:**
- **STREET 1:** 51 MADISON AVENUE
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10010
- **BUSINESS PHONE:** (212) 576-5018

**MAIL ADDRESS:**
- **STREET 1:** 51 MADISON AVENUE
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10010

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** NYLI MacKay Core Plus Bond ETF
- **DATE OF NAME CHANGE:** 20241203

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** New York Life Investments Active ETF Trust
- **DATE OF NAME CHANGE:** 20240822

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** IndexIQ Active ETF Trust
- **DATE OF NAME CHANGE:** 20080207

## Series and Classes Contracts Data

### NYLI MacKay Securitized Income ETF (Series ID: S000084196)

| Class ID   | Class Name                         | Ticker Symbol   |
|:---|:---|:---|
| C000248469 | NYLI MacKay Securitized Income ETF | SECR            |

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** New York Life Investments Active ETF Trust

- **b. Investment Company Act file number:** 811-22739

- **c. CIK number of Registrant:** 0001426439

- **d. LEI of Registrant:** 549300VWZDQ61K9DOP39

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

  - **Street Address 1:** 51 Madison Avenue

  - **City:** New York

  - **State:** NY

  - **Foreign country:** US

  - **Zip / Postal Code:** 10010

  - **Telephone number:** 888-474-7725

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

- **a. Name of Series:** NYLI MacKay Securitized Income ETF

- **b. EDGAR series identifier (if any):** S000084196

- **c. LEI of Series:** 529900V03XWJN0RHX644

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

- **a. Date of fiscal year-end:** 2026-04-30

- **b. Date as of which information is reported:** 2025-10-31

**Item A.4. Final filing**

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

### Fund Information

**Total Assets:** $157821543.09

**Total Liabilities:** $220323.06

**Net Assets:** $157601220.03

**Cash Not Reported:** $307022.03

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** 113.04629000 | **1-Year:** 4245.18697000 | **5-Year:** 39095.16072000 | **10-Year:** 28777.70528000 | **30-Year:** 601.57496000

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

- **3-Month:** 67.96459000 | **1-Year:** 2879.24592000 | **5-Year:** 4278.87126000 | **10-Year:** 2554.48917000 | **30-Year:** 327.20705000

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000248469 | 1.67%                | 0.61%                | 0.64%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $144923.25               | $1400613.05                                |
| Month 2  | $236027.89               | $91700.21                                  |
| Month 3  | $170709.29               | $89000.26                                  |

**Designated Index Information**

- **Index Name:** Bloomberg U.S. Securitized Bond Index

- **Index Identifier:** LHMN5582

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| BOARD OF TRADE OF THE CITY OF CHICAGO, INC.  | US 10YR ULTRA                                                                  | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DIR              | CORP              | US        |       -39 | NC      | $-17027.98    | -0.01%            |  |  |  | No            |                  1 | On Loan: No      |
| Natixis Commercial Mortgage Se               | Natixis Commercial Mortgage Securities Trust 2020-2PAC                         | CUSIP: 63875DAN1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    475000 | PA      | $407179.74    | 0.26%             | 2037-01-15      | Variable      | 3.50%                 | No            |                  2 | On Loan: No      |
| Fannie Mae - CAS                             | Connecticut Avenue Securities Trust 2022-R08                                   | CUSIP: 20755DAF3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     95000 | PA      | $101895.35    | 0.06%             | 2042-07-25      | Floating      | 9.78%                 | No            |                  2 | On Loan: No      |
| Regatta 30 Funding Ltd.                      | Regatta 30 Funding Ltd                                                         | CUSIP: 75903UAE3<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    300000 | PA      | $300943.20    | 0.19%             | 2038-01-25      | Floating      | 5.51%                 | No            |                  2 | On Loan: No      |
| Fannie Mae - CAS                             | Connecticut Avenue Securities Trust 2024-R05                                   | CUSIP: 20754XAG8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    500000 | PA      | $501253.65    | 0.32%             | 2044-07-25      | Floating      | 6.18%                 | No            |                  2 | On Loan: No      |
| United Wholesale Mortgage LLC                | UWM Mortgage Trust 2021-INV5                                                   | CUSIP: 90355DAY9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    570907 | PA      | $493834.26    | 0.31%             | 2052-01-25      | Variable      | 3.00%                 | No            |                  2 | On Loan: No      |
| Avis Budget Rental Car Funding               | Avis Budget Rental Car Funding AESOP LLC                                       | CUSIP: 05377RKJ2<br>LEI: IHXLB8SL0QWSSG2VG640 | Long             | ABS-O            | CORP              | US        |    245000 | PA      | $249108.85    | 0.16%             | 2028-04-20      | Fixed         | 7.35%                 | No            |                  2 | On Loan: No      |
| Uniti Fiber ABS Issuer LLC                   | Uniti Fiber Abs Issuer LLC                                                     | CUSIP: 91326EAG0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    195000 | PA      | $195479.94    | 0.12%             | 2056-01-20      | Fixed         | 5.18%                 | No            |                  2 | On Loan: No      |
| COMM Mortgage Trust                          | Comm 2014-UBS2 Mortgage Trust                                                  | CUSIP: 12591UAP8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    179685 | PA      | $79063.04     | 0.05%             | 2047-03-10      | Variable      | 4.68%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                   | Fannie Mae Pool                                                                | CUSIP: 3140XMHT6<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     99058 | PA      | $102196.94    | 0.06%             | 2053-08-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Citigroup Mortgage Loan Trust                | Citigroup Mortgage Loan Trust 2014-C                                           | CUSIP: 17323GAE8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    640000 | PA      | $554794.94    | 0.35%             | 2054-02-25      | Variable      | 4.25%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                  | Freddie Mac REMICS                                                             | CUSIP: 3137F6TN7<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    690817 | PA      | $145390.88    | 0.09%             | 2050-11-25      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A               | Government National Mortgage Association                                       | CUSIP: 38382PMU3<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    614775 | PA      | $105839.48    | 0.07%             | 2051-03-20      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Flagship Credit Auto Trust                   | Flagship Credit Auto Trust 2021-3                                              | CUSIP: 33846QAJ0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    650000 | PA      | $598266.50    | 0.38%             | 2028-12-15      | Fixed         | 3.32%                 | No            |                  2 | On Loan: No      |
| Fortress Credit Opportunities                | Fortress Credit Opportunities XXI CLO LLC                                      | CUSIP: 34964UAN6<br>LEI: 254900WDNXJI5BDB6170 | Long             | ABS-CBDO         | CORP              | US        |    300000 | PA      | $300466.20    | 0.19%             | 2037-01-21      | Floating      | 5.44%                 | No            |                  2 | On Loan: No      |
| Wells Fargo Commercial Mortgag               | Wells Fargo Commercial Mortgage Trust 2019-C51                                 | CUSIP: 95001VAX8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    116000 | PA      | $107365.25    | 0.07%             | 2052-06-15      | Fixed         | 3.58%                 | No            |                  2 | On Loan: No      |
| BCC Middle Market CLO                        | BCC Middle Market CLO 2025-1 LLC                                               | CUSIP: 05555YAA1<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |    275000 | PA      | $275446.60    | 0.17%             | 2037-07-17      | Floating      | 5.73%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A               | Government National Mortgage Association                                       | CUSIP: 38384AQK2<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    154142 | PA      | $121635.96    | 0.08%             | 2052-07-20      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                   | Fannie Mae Pool                                                                | CUSIP: 3140X83H8<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     21780 | PA      | $20156.51     | 0.01%             | 2050-11-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Morgan Stanley BAML Trust                    | Morgan Stanley Bank of America Merrill Lynch Trust 2015-C22                    | CUSIP: 61690FAP8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    110000 | PA      | $105741.90    | 0.07%             | 2048-04-15      | Fixed         | 3.56%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A               | Government National Mortgage Association                                       | CUSIP: 38382L2B6<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |     87878 | PA      | $10126.99     | 0.01%             | 2050-12-20      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| Countrywide Alternative Loan T               | Alternative Loan Trust 2005-IM1                                                | CUSIP: 12668A4B8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    126691 | PA      | $117538.32    | 0.07%             | 2036-01-25      | Floating      | 4.71%                 | No            |                  2 | On Loan: No      |
| Magnetite CLO Ltd                            | Magnetite 50 Ltd                                                               | CUSIP: 55956MAA7<br>LEI: 529900LA8YF5OY74OD31 | Long             | ABS-CBDO         | CORP              | KY        |    300000 | PA      | $300450.90    | 0.19%             | 2038-07-25      | Floating      | 5.59%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                   | Fannie Mae REMICS                                                              | CUSIP: 3136BTGK3<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   1385360 | PA      | $53854.62     | 0.03%             | 2054-11-25      | Floating      | 0.97%                 | No            |                  2 | On Loan: No      |
| Long Beach Mortgage Loan Trust               | Long Beach Mortgage Loan Trust 2004-3                                          | CUSIP: 542514GM0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    100305 | PA      | $100530.90    | 0.06%             | 2034-07-25      | Floating      | 4.96%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A               | Government National Mortgage Association                                       | CUSIP: 38382NP76<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    239191 | PA      | $2395.07      | 0.00%             | 2051-02-20      | Floating      | 0.01%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                   | Fannie Mae Pool                                                                | CUSIP: 3140Q9JA2<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     54317 | PA      | $53911.69     | 0.03%             | 2048-07-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| WAMU Mortgage Pass-Through Cer               | WaMu Mortgage Pass-Through Certificates Series 2005-AR16 Trust                 | CUSIP: 92922F6W3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     57766 | PA      | $52945.94     | 0.03%             | 2035-12-25      | Variable      | 4.55%                 | No            |                  2 | On Loan: No      |
| JP Morgan Mortgage Trust                     | JP Morgan Mortgage Trust 2021-11                                               | CUSIP: 46654KBU0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |  10726342 | PA      | $138225.00    | 0.09%             | 2052-01-25      | Variable      | 0.22%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                   | Fannie Mae Pool                                                                | CUSIP: 31418EB82<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   4555331 | PA      | $3713986.79   | 2.36%             | 2052-03-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| OCP CLO Ltd                                  | OCP CLO 2017-14 Ltd                                                            | CUSIP: 67097QAN5<br>LEI: 25490025Q5WQX513IQ05 | Long             | ABS-CBDO         | CORP              | KY        |    250000 | PA      | $250592.25    | 0.16%             | 2037-07-20      | Floating      | 5.25%                 | No            |                  2 | On Loan: No      |
| Natixis Commercial Mortgage Se               | Natixis Commercial Mortgage Securities Trust 2019-MILE                         | CUSIP: 63875FAA4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    339543 | PA      | $327454.23    | 0.21%             | 2036-07-15      | Floating      | 5.61%                 | No            |                  2 | On Loan: No      |
| Multifamily Structured Credit                | Freddie Mac Mscr Trust Mn9                                                     | CUSIP: 355917AC9<br>LEI: 529900KWKEUIIIV9P337 | Long             | ABS-MBS          | USGSE             | US        |    530000 | PA      | $560523.76    | 0.36%             | 2044-10-25      | Floating      | 10.19%                | No            |                  2 | On Loan: No      |
| Fannie Mae                                   | Fannie Mae Pool                                                                | CUSIP: 31418D7E6<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   3519023 | PA      | $2869595.86   | 1.82%             | 2051-12-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| CFK Trust                                    | CFK Trust 2020-MF2                                                             | CUSIP: 12529AAJ3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    490000 | PA      | $361797.67    | 0.23%             | 2039-03-15      | Variable      | 3.46%                 | No            |                  2 | On Loan: No      |
| GS Mortgage-Backed Securities Trust 2022-PJ3 | GSMBS 2022-PJ3 A4 08/52                                                        | CUSIP: 362924AE2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    935629 | PA      | $782895.15    | 0.50%             | 2052-08-25      | Variable      | 2.50%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                   | Fannie Mae Pool                                                                | CUSIP: 31418ER77<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    861413 | PA      | $860719.15    | 0.55%             | 2053-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Bridgecrest Lending Auto Secur               | Bridgecrest Lending Auto Securitization Trust 2024-1                           | CUSIP: 107933AF0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    780000 | PA      | $789267.18    | 0.50%             | 2029-11-15      | Fixed         | 6.03%                 | No            |                  2 | On Loan: No      |
| Loandepot GMSR Master Trust                  | LOANDEPOT GMSR Master Trust                                                    | CUSIP: 53946TAF9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    520000 | PA      | $521666.03    | 0.33%             | 2030-07-16      | Floating      | 7.18%                 | No            |                  2 | On Loan: No      |
| Banc of America Merrill Lynch                | BAMLL Commercial Mortgage Securities Trust 2016-ISQ                            | CUSIP: 05523GAA9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    460000 | PA      | $386400.00    | 0.25%             | 2034-08-14      | Fixed         | 2.85%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A               | Government National Mortgage Association                                       | CUSIP: 38382WBD8<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    999794 | PA      | $143030.69    | 0.09%             | 2051-07-20      | Floating      | 2.15%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A               | Government National Mortgage Association                                       | CUSIP: 38382ML56<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |     67788 | PA      | $10407.30     | 0.01%             | 2050-12-20      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| LAD Auto Receivables Trust                   | LAD Auto Receivables Trust 2024-3                                              | CUSIP: 505709AG0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    565000 | PA      | $570012.40    | 0.36%             | 2032-02-17      | Fixed         | 5.18%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                  | Freddie Mac REMICS                                                             | CUSIP: 3137FUFU3<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   1375996 | PA      | $188647.73    | 0.12%             | 2050-07-25      | Floating      | 1.80%                 | No            |                  2 | On Loan: No      |
| Bank                                         | Bank 2019-BNK19                                                                | CUSIP: 06540WBF9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     80000 | PA      | $69385.66     | 0.04%             | 2061-08-15      | Fixed         | 3.65%                 | No            |                  2 | On Loan: No      |
| Washington Mutual Mortgage Pas               | Washington Mutual Mortgage Pass-Through Certificates WMALT Series 2005-8 Trust | CUSIP: 93934FCQ3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     29778 | PA      | $28311.54     | 0.02%             | 2035-10-25      | Floating      | 4.52%                 | No            |                  2 | On Loan: No      |
| MULTIFAMILY CONNECTICUT AVENUE               | Multifamily Connecticut Avenue Securities Trust 2020-01                        | CUSIP: 62548QAF8<br>LEI: 5493002KQF9IH3CTQZ40 | Long             | ABS-MBS          | CORP              | US        |    115000 | PA      | $118912.88    | 0.08%             | 2050-03-25      | Floating      | 11.80%                | No            |                  2 | On Loan: No      |
| Multifamily Connecticut Avenue               | Multifamily Connecticut Avenue Securities Trust 2024-01                        | CUSIP: 62548RAC3<br>LEI: 254900QY3MMJFMNKXA93 | Long             | ABS-MBS          | CORP              | US        |    400000 | PA      | $439208.40    | 0.28%             | 2054-07-25      | Floating      | 10.93%                | No            |                  2 | On Loan: No      |
| Bridgecrest Lending Auto Secur               | Bridgecrest Lending Auto Securitization Trust 2024-1                           | CUSIP: 107933AE3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    250000 | PA      | $251904.78    | 0.16%             | 2029-04-16      | Fixed         | 5.65%                 | No            |                  2 | On Loan: No      |
| Freddie Mac - STACR                          | Freddie Mac STACR REMIC Trust 2021-DNA1                                        | CUSIP: 35564KBD0<br>LEI: 5493000IT1PBTE7DAT80 | Long             | ABS-MBS          | CORP              | US        |    580000 | PA      | $607550.00    | 0.39%             | 2051-01-25      | Floating      | 6.83%                 | No            |                  2 | On Loan: No      |
| CSAIL Commercial Mortgage Trus               | CSAIL 2018-C14 Commercial Mortgage Trust                                       | CUSIP: 12596GBF5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    405000 | PA      | $368937.95    | 0.23%             | 2051-11-15      | Variable      | 4.88%                 | No            |                  2 | On Loan: No      |
| Blackrock CLO                                | Blackrock Rainier CLO VI Ltd                                                   | CUSIP: 09261MAQ9<br>LEI: 549300HF4E86WXQDUX86 | Long             | ABS-CBDO         | CORP              | KY        |    250000 | PA      | $250118.25    | 0.16%             | 2037-04-20      | Floating      | 5.43%                 | No            |                  2 | On Loan: No      |
| Flagship Credit Auto Trust                   | Flagship Credit Auto Trust 2021-3                                              | CUSIP: 33846QAG6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    514000 | PA      | $489474.13    | 0.31%             | 2027-09-15      | Fixed         | 1.65%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                  | Freddie Mac REMICS                                                             | CUSIP: 3137HKCT9<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   1134401 | PA      | $41904.75     | 0.03%             | 2055-03-25      | Floating      | 0.92%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A               | Government National Mortgage Association                                       | CUSIP: 38382UG62<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    374766 | PA      | $338580.47    | 0.21%             | 2051-06-20      | Floating      | 3.50%                 | No            |                  2 | On Loan: No      |
| Freddie Mac - STACR                          | Freddie Mac STACR Securitized Participation Interests Trust 2018-SPI3          | CUSIP: 3137G1DF1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    697189 | PA      | $542094.27    | 0.34%             | 2048-08-25      | Variable      | 4.16%                 | No            |                  2 | On Loan: No      |
| BX Trust                                     | BX Commercial Mortgage Trust 2020-VIVA                                         | CUSIP: 12433XAG4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    100000 | PA      | $92446.27     | 0.06%             | 2044-03-11      | Variable      | 3.55%                 | No            |                  2 | On Loan: No      |
| Woodward Capital Management                  | RCKT Mortgage Trust 2022-2                                                     | CUSIP: 74938WAB7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    469969 | PA      | $393837.39    | 0.25%             | 2052-02-25      | Variable      | 2.50%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                  | Freddie Mac Pool                                                               | CUSIP: 31427NW88<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    341669 | PA      | $349469.59    | 0.22%             | 2055-07-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                   | Fannie Mae Pool                                                                | CUSIP: 3140XBG46<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    131358 | PA      | $113045.54    | 0.07%             | 2051-06-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                  | Freddie Mac Pool                                                               | CUSIP: 3132DSQK1<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   3576572 | PA      | $2919521.78   | 1.85%             | 2052-06-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| DT Auto Owner Trust                          | DT Auto Owner Trust 2021-4                                                     | CUSIP: 26253WAG3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    284540 | PA      | $282063.31    | 0.18%             | 2027-09-15      | Fixed         | 1.99%                 | No            |                  2 | On Loan: No      |
| Progress Residential Trust                   | Progress Residential 2025-SFR4 Trust                                           | CUSIP: 74290JAE2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    440000 | PA      | $439100.02    | 0.28%             | 2042-08-17      | Fixed         | 5.05%                 | No            |                  2 | On Loan: No      |
| CarMax Auto Owner Trust                      | CarMax Auto Owner Trust 2024-1                                                 | CUSIP: 14318WAG2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     80000 | PA      | $81366.25     | 0.05%             | 2029-08-15      | Fixed         | 5.47%                 | No            |                  2 | On Loan: No      |
| Dext ABS                                     | Dext ABS 2025-1 LLC                                                            | CUSIP: 252154AF6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    295000 | PA      | $300087.45    | 0.19%             | 2036-02-15      | Fixed         | 5.65%                 | No            |                  2 | On Loan: No      |
| New Economy Assets Phase 1 Iss               | New Economy Assets - Phase 1 Sponsor LLC                                       | CUSIP: 643821AB7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    525000 | PA      | $336396.64    | 0.21%             | 2061-10-20      | Fixed         | 2.41%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A               | Government National Mortgage Association                                       | CUSIP: 38383F6G3<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   1071728 | PA      | $15774.12     | 0.01%             | 2052-06-20      | Floating      | 0.01%                 | No            |                  2 | On Loan: No      |
| BX Trust                                     | BX Commercial Mortgage Trust 2024-BRBK                                         | CUSIP: 05613NAL1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    345000 | PA      | $344654.28    | 0.22%             | 2041-10-15      | Floating      | 10.00%                | No            |                  2 | On Loan: No      |
| GS Mortgage Securities Trust                 | GS Mortgage Securities Trust 2015-GC30                                         | CUSIP: 36250GAU9<br>LEI: 549300L45M7638EL0H21 | Long             | ABS-MBS          | CORP              | US        |    113263 | PA      | $107712.82    | 0.07%             | 2050-05-10      | Variable      | 3.97%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                   | Fannie Mae REMICS                                                              | CUSIP: 3136BBCM2<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    535000 | PA      | $405790.97    | 0.26%             | 2050-08-25      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A               | Government National Mortgage Association                                       | CUSIP: 38382LQD6<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |     62407 | PA      | $7768.24      | 0.00%             | 2050-11-20      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                  | Freddie Mac Pool                                                               | CUSIP: 3133B6BL3<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     87158 | PA      | $70978.43     | 0.05%             | 2052-03-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                  | Freddie Mac Pool                                                               | CUSIP: 3132DWKU6<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    205466 | PA      | $204771.12    | 0.13%             | 2054-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Apidos CLO Ltd                               | Apidos CLO LI Ltd                                                              | CUSIP: 03771JAE9<br>LEI: 254900K0UHSUBZXUMR56 | Long             | ABS-CBDO         | CORP              | JE        |    250000 | PA      | $250780.75    | 0.16%             | 2038-01-20      | Floating      | 5.43%                 | No            |                  2 | On Loan: No      |
| Banc of America Mortgage Secur               | Banc of America Mortgage 2005-A Trust                                          | CUSIP: 05949AJ27<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     16058 | PA      | $15649.90     | 0.01%             | 2035-02-25      | Variable      | 5.11%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A               | Government National Mortgage Association                                       | CUSIP: 38382LQC8<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    318275 | PA      | $241033.84    | 0.15%             | 2050-11-20      | Fixed         | 1.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                   | Fannie Mae Pool                                                                | CUSIP: 31418EDC1<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   1388277 | PA      | $1183217.66   | 0.75%             | 2052-05-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| COLOGIX DATA CENTERS ISSUER LL               | COLOGIX DATA CENTERS US ISSUER LLC                                             | CUSIP: 19521UAA1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    320000 | PA      | $312623.65    | 0.20%             | 2051-12-26      | Fixed         | 3.30%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A               | Government National Mortgage Association                                       | CUSIP: 38382J4U7<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    122996 | PA      | $18032.57     | 0.01%             | 2050-10-20      | Floating      | 2.50%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A               | Government National Mortgage Association                                       | CUSIP: 38382DM30<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |     77498 | PA      | $10267.90     | 0.01%             | 2050-03-20      | Floating      | 1.90%                 | No            |                  2 | On Loan: No      |
| Golub Capital Partners CLO, LT               | Golub Capital Partners CLO 76 B Ltd                                            | CUSIP: 38180BAA5<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | JE        |    250000 | PA      | $250352.00    | 0.16%             | 2037-10-25      | Floating      | 5.23%                 | No            |                  2 | On Loan: No      |
| Ares Direct Lending CLO LLC                  | Ares Direct Lending CLO 3 LLC                                                  | CUSIP: 039945AB6<br>LEI: 254900TU6Z546P794928 | Long             | ABS-CBDO         | CORP              | US        |    250000 | PA      | $250057.75    | 0.16%             | 2037-01-20      | Floating      | 5.63%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A               | Government National Mortgage Association                                       | CUSIP: 38382LZ87<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    999870 | PA      | $113731.92    | 0.07%             | 2050-12-20      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A               | Government National Mortgage Association                                       | CUSIP: 38384KVY4<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   3567030 | PA      | $154101.04    | 0.10%             | 2054-03-20      | Floating      | 1.02%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                  | Freddie Mac Pool                                                               | CUSIP: 3133KN4F7<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    702688 | PA      | $652386.46    | 0.41%             | 2052-04-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Onslow Bay Financial LLC                     | OBX 2022-J1 Trust                                                              | CUSIP: 67116WAP4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1067395 | PA      | $886479.96    | 0.56%             | 2052-02-25      | Variable      | 2.50%                 | No            |                  2 | On Loan: No      |
| Fannie Mae - CAS                             | Connecticut Avenue Securities Trust 2022-R02                                   | CUSIP: 20754BAJ0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    685000 | PA      | $730692.24    | 0.46%             | 2042-01-25      | Floating      | 11.83%                | No            |                  2 | On Loan: No      |
| Fannie Mae                                   | Fannie Mae REMICS                                                              | CUSIP: 3136BHWC9<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    810834 | PA      | $113371.41    | 0.07%             | 2051-03-25      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| New Economy Assets Phase 1 Iss               | New Economy Assets - Phase 1 Sponsor LLC                                       | CUSIP: 643821AA9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    285000 | PA      | $240470.32    | 0.15%             | 2061-10-20      | Fixed         | 1.91%                 | No            |                  2 | On Loan: No      |
| Wells Fargo Commercial Mortgag               | Wells Fargo Commercial Mortgage Trust 2016-NXS6                                | CUSIP: 95000KAJ4<br>LEI: 549300CFP9NBBMZH1008 | Long             | ABS-MBS          | CORP              | US        |    555000 | PA      | $471866.99    | 0.30%             | 2049-11-15      | Fixed         | 3.06%                 | No            |                  2 | On Loan: No      |
| Onslow Bay Financial LLC                     | OBX 2019-INV2 Trust                                                            | CUSIP: 67112VAE5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     32559 | PA      | $30545.88     | 0.02%             | 2049-05-27      | Variable      | 4.00%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A               | Government National Mortgage Association                                       | CUSIP: 38381KAF1<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    265000 | PA      | $195509.87    | 0.12%             | 2064-08-16      | Variable      | 2.50%                 | No            |                  2 | On Loan: No      |
| Owl Rock CLO Ltd                             | Owl Rock CLO XX LLC                                                            | CUSIP: 69122LAC5<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |    250000 | PA      | $248224.75    | 0.16%             | 2034-10-24      | Floating      | 5.97%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                   | Fannie Mae Pool                                                                | CUSIP: 3140W1WA7<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    386551 | PA      | $396664.07    | 0.25%             | 2054-12-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                   | Fannie Mae Pool                                                                | CUSIP: 3140QAJE1<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     28173 | PA      | $27910.41     | 0.02%             | 2049-01-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| WAMU Mortgage Pass-Through Cer               | WaMu Mortgage Pass-Through Certificates Series 2002-AR17 Trust                 | CUSIP: 929227XB7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     21247 | PA      | $20556.83     | 0.01%             | 2042-11-25      | Floating      | 5.31%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A               | Government National Mortgage Association                                       | CUSIP: 38382MCH0<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    124016 | PA      | $18698.32     | 0.01%             | 2050-12-20      | Floating      | 2.15%                 | No            |                  2 | On Loan: No      |
| Bridgecrest Lending Auto Secur               | Bridgecrest Lending Auto Securitization Trust 2025-3                           | CUSIP: 107920AG5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    600000 | PA      | $587228.10    | 0.37%             | 2032-05-17      | Fixed         | 6.62%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A               | Government National Mortgage Association                                       | CUSIP: 38381HVY4<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    874490 | PA      | $61051.24     | 0.04%             | 2065-10-16      | Variable      | 1.02%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                  | Freddie Mac Pool                                                               | CUSIP: 3132DWDC4<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   4424564 | PA      | $3606109.94   | 2.29%             | 2052-03-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                   | Fannie Mae Pool                                                                | CUSIP: 3140X6PP0<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     83013 | PA      | $74367.78     | 0.05%             | 2050-05-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Morgan Stanley Capital I Trust               | Morgan Stanley Capital I Trust 2016-UBS9                                       | CUSIP: 61766CAL3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    500000 | PA      | $432934.85    | 0.27%             | 2049-03-15      | Variable      | 4.53%                 | No            |                  2 | On Loan: No      |
| JP Morgan Mortgage Trust                     | JP Morgan Mortgage Trust 2021-12                                               | CUSIP: 46592WAC0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1112949 | PA      | $934051.60    | 0.59%             | 2052-02-25      | Variable      | 2.50%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A               | Government National Mortgage Association                                       | CUSIP: 38381MUH1<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   2324079 | PA      | $118399.50    | 0.08%             | 2066-03-16      | Variable      | 0.56%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A               | Government National Mortgage Association                                       | CUSIP: 38382UF55<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    351909 | PA      | $273962.67    | 0.17%             | 2051-06-20      | Fixed         | 1.00%                 | No            |                  2 | On Loan: No      |
| CART                                         | CONE Trust 2024-DFW1                                                           | CUSIP: 20682AAN0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    500000 | PA      | $499383.35    | 0.32%             | 2041-08-15      | Floating      | 7.92%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                  | Freddie Mac REMICS                                                             | CUSIP: 3137F6PH4<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     53268 | PA      | $9828.72      | 0.01%             | 2050-11-25      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                   | Fannie Mae REMICS                                                              | CUSIP: 3136B4XC7<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     50352 | PA      | $6078.03      | 0.00%             | 2049-06-25      | Floating      | 1.75%                 | No            |                  2 | On Loan: No      |
| Apidos CLO Ltd                               | Apidos CLO XVIII-R                                                             | CUSIP: 03767NBA3<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    380000 | PA      | $381953.58    | 0.24%             | 2038-01-22      | Floating      | 5.56%                 | No            |                  2 | On Loan: No      |
| Wells Fargo Commercial Mortgag               | Wells Fargo Commercial Mortgage Trust 2016-NXS5                                | CUSIP: 95000CBJ1<br>LEI: 549300SGFUCMB43V8P22 | Long             | ABS-MBS          | CORP              | US        |    469000 | PA      | $388213.01    | 0.25%             | 2059-01-15      | Variable      | 4.94%                 | No            |                  2 | On Loan: No      |
| COMM Mortgage Trust                          | COMM 2016-DC2 Mortgage Trust                                                   | CUSIP: 12594CAL4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    760000 | PA      | $731363.12    | 0.46%             | 2049-02-10      | Variable      | 3.92%                 | No            |                  2 | On Loan: No      |
| BOARD OF TRADE OF THE CITY OF CHICAGO, INC.  | US 10YR NOTE (CBT)                                                             | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DIR              | CORP              | US        |       174 | NC      | $124658.82    | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| BX Trust                                     | BX Trust 2021-RISE                                                             | CUSIP: 12434EAE0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     84533 | PA      | $84374.42     | 0.05%             | 2036-11-15      | Floating      | 5.60%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                  | Freddie Mac REMICS                                                             | CUSIP: 3137HADW3<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    418255 | PA      | $294182.89    | 0.19%             | 2050-09-25      | Fixed         | 0.25%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                   | Fannie Mae REMICS                                                              | CUSIP: 3136BFHM8<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     77091 | PA      | $70640.34     | 0.04%             | 2050-07-25      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Multifamily Structured Credit                | Freddie Mac Mscr Trust Mn10                                                    | CUSIP: 35563UAC2<br>LEI: 529900M14O2Z3FO2N217 | Long             | ABS-MBS          | USGSE             | US        |    445000 | PA      | $454827.34    | 0.29%             | 2045-02-25      | Floating      | 9.26%                 | No            |                  2 | On Loan: No      |
| DBUBS Mortgage Trust                         | DBUBS 2011-LC3 Mortgage Trust                                                  | CUSIP: 23305YAW9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    650000 | PA      | $416006.50    | 0.26%             | 2044-05-10      | Variable      | 5.10%                 | No            |                  2 | On Loan: No      |
| Banc of America Funding Corpor               | Banc of America Funding 2006-I Trust                                           | CUSIP: 05951VAV1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     30216 | PA      | $27249.71     | 0.02%             | 2046-12-20      | Floating      | 4.53%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                  | Freddie Mac Pool                                                               | CUSIP: 3132DWCB7<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   1874750 | PA      | $1531043.69   | 0.97%             | 2051-09-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| Flagship Credit Auto Trust                   | Flagship Credit Auto Trust 2022-2                                              | CUSIP: 33844XAL2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    605000 | PA      | $519371.14    | 0.33%             | 2028-04-17      | Fixed         | 5.80%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                  | Freddie Mac Pool                                                               | CUSIP: 3132DWNE9<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   1679745 | PA      | $1637522.39   | 1.04%             | 2054-12-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Sequoia Mortgage Trust                       | Sequoia Mortgage Trust 2023-2                                                  | CUSIP: 81744KCE4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    423123 | PA      | $397981.11    | 0.25%             | 2053-03-25      | Variable      | 5.02%                 | No            |                  2 | On Loan: No      |
| Regatta Funding                              | Regatta XI Funding Ltd                                                         | CUSIP: 75887XAN7<br>LEI: 254900TUAAER6MTE4E64 | Long             | ABS-CBDO         | CORP              | KY        |    250000 | PA      | $250364.75    | 0.16%             | 2037-07-17      | Floating      | 5.28%                 | No            |                  2 | On Loan: No      |
| WAMU Mortgage Pass-Through Cer               | WaMu Mortgage Pass-Through Certificates Series 2005-AR6 Trust                  | CUSIP: 92922FJ25<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     49370 | PA      | $48329.12     | 0.03%             | 2045-04-25      | Floating      | 4.57%                 | No            |                  2 | On Loan: No      |
| Exeter Automobile Receivables                | Exeter Automobile Receivables Trust 2025-4                                     | CUSIP: 30167KAF8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    435000 | PA      | $430612.08    | 0.27%             | 2032-01-15      | Fixed         | 5.23%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                   | Fannie Mae Pool                                                                | CUSIP: 31418ED64<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   1884257 | PA      | $1673239.66   | 1.06%             | 2052-06-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A               | Government National Mortgage Association                                       | CUSIP: 38382UVH1<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    152487 | PA      | $20428.66     | 0.01%             | 2051-06-20      | Floating      | 2.15%                 | No            |                  2 | On Loan: No      |
| Natixis Commercial Mortgage Se               | Natixis Commercial Mortgage Securities Trust 2021-APPL                         | CUSIP: 63874AAA6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     85634 | PA      | $83091.95     | 0.05%             | 2038-08-15      | Floating      | 5.25%                 | No            |                  2 | On Loan: No      |
| CarMax Select Receivables Trus               | Carmax Select Receivables Trust 2025-B                                         | CUSIP: 14320BAF6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    410000 | PA      | $410720.82    | 0.26%             | 2031-07-15      | Fixed         | 5.33%                 | No            |                  2 | On Loan: No      |
| COMM Mortgage Trust                          | COMM 2018-HCLV Mortgage Trust                                                  | CUSIP: 20048KAA5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    425000 | PA      | $391000.00    | 0.25%             | 2033-09-15      | Floating      | 5.33%                 | No            |                  2 | On Loan: No      |
| RIN Ltd                                      | RIN V LLC                                                                      | CUSIP: 74970TAG2<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |    350000 | PA      | $349435.10    | 0.22%             | 2036-10-14      | Floating      | 5.25%                 | No            |                  2 | On Loan: No      |
| Wells Fargo Commercial Mortgag               | Wells Fargo Commercial Mortgage Trust 2018-C44                                 | CUSIP: 95001JAC1<br>LEI: 549300AGZIS1CJS4RM30 | Long             | ABS-MBS          | CORP              | US        |    710000 | PA      | $549408.72    | 0.35%             | 2051-05-15      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Towd Point Mortgage Trust                    | Towd Point Mortgage Trust 2017-4                                               | CUSIP: 89173UAJ6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    249771 | PA      | $178786.48    | 0.11%             | 2057-06-25      | Variable      | 3.65%                 | No            |                  2 | On Loan: No      |
| Morgan Stanley Capital I Trust               | Morgan Stanley Capital I Trust 2018-H3                                         | CUSIP: 61767YAC4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    135000 | PA      | $112585.57    | 0.07%             | 2051-07-15      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Bank                                         | BANK 2017-BNK7                                                                 | CUSIP: 06541XAL4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    440000 | PA      | $390151.12    | 0.25%             | 2060-09-15      | Variable      | 3.97%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                  | Freddie Mac Pool                                                               | CUSIP: 3133KNLB7<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    199078 | PA      | $171172.26    | 0.11%             | 2052-01-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| Hertz Vehicle Financing LLC                  | Hertz Vehicle Financing III LLC                                                | CUSIP: 42806MDE6<br>LEI: 549300MNOMKDMDFI8J66 | Long             | ABS-O            | CORP              | US        |    445000 | PA      | $451806.76    | 0.29%             | 2029-12-26      | Fixed         | 8.55%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A               | Government National Mortgage Association                                       | CUSIP: 38382UVG3<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    124837 | PA      | $17630.30     | 0.01%             | 2051-06-20      | Floating      | 2.15%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                   | Fannie Mae Pool                                                                | CUSIP: 3140HJJS1<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     22108 | PA      | $21368.86     | 0.01%             | 2048-08-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| CIM Trust                                    | CIM Trust 2019-INV1                                                            | CUSIP: 12555DAY1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    348365 | PA      | $340257.65    | 0.22%             | 2049-02-25      | Variable      | 5.03%                 | No            |                  2 | On Loan: No      |
| Drive Auto Receivables Trust                 | Drive Auto Receivables Trust 2024-1                                            | CUSIP: 26208WAE4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     75000 | PA      | $75913.11     | 0.05%             | 2031-11-17      | Fixed         | 5.43%                 | No            |                  2 | On Loan: No      |
| Signal Peak CLO, LLC                         | Signal Peak CLO 12 Ltd                                                         | CUSIP: 82671XAQ6<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | JE        |    250000 | PA      | $250611.00    | 0.16%             | 2037-07-18      | Floating      | 5.28%                 | No            |                  2 | On Loan: No      |
| GS Mortgage-Backed Securities                | GS Mortgage-Backed Securities Trust 2023-PJ1                                   | CUSIP: 36267TAG3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1355804 | PA      | $1231702.05   | 0.78%             | 2053-02-25      | Variable      | 3.50%                 | No            |                  2 | On Loan: No      |
| JP Morgan Mortgage Trust                     | J.P. Morgan Mortgage Trust 2022-1                                              | CUSIP: 46654WCK5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    481337 | PA      | $392922.33    | 0.25%             | 2052-07-25      | Variable      | 3.08%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A               | Government National Mortgage Association                                       | CUSIP: 38382PS29<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    171835 | PA      | $19204.80     | 0.01%             | 2048-01-20      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| Countrywide Home Loans                       | CHL Mortgage Pass-Through Trust 2005-9                                         | CUSIP: 12669GYY1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     65722 | PA      | $58875.08     | 0.04%             | 2035-05-25      | Floating      | 4.71%                 | No            |                  2 | On Loan: No      |
| BENCHMARK Mortgage Trust                     | Benchmark 2018-B6 Mortgage Trust                                               | CUSIP: 08162CAL4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    605000 | PA      | $452335.51    | 0.29%             | 2051-10-10      | Variable      | 3.09%                 | No            |                  2 | On Loan: No      |
| Fannie Mae - CAS                             | Connecticut Avenue Securities Trust 2019-HRP1                                  | CUSIP: 20754PAD2<br>LEI: 549300Z5THZ1JXIHVK60 | Long             | ABS-MBS          | CORP              | US        |    291485 | PA      | $311490.63    | 0.20%             | 2039-11-25      | Floating      | 13.55%                | No            |                  2 | On Loan: No      |
| Freddie Mac                                  | Freddie Mac Pool                                                               | CUSIP: 3132E0FK3<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    519477 | PA      | $446238.68    | 0.28%             | 2052-03-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A               | Government National Mortgage Association                                       | CUSIP: 38382QAM2<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   2337610 | PA      | $329852.39    | 0.21%             | 2051-03-20      | Floating      | 2.15%                 | No            |                  2 | On Loan: No      |
| Flagstar Mortgage Trust                      | Flagstar Mortgage Trust 2021-6INV                                              | CUSIP: 33851GAU9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    140503 | PA      | $117004.80    | 0.07%             | 2051-08-25      | Variable      | 2.50%                 | No            |                  2 | On Loan: No      |
| Flagship Credit Auto Trust                   | Flagship Credit Auto Trust 2021-2                                              | CUSIP: 33844WAJ9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    410000 | PA      | $397039.86    | 0.25%             | 2028-09-15      | Fixed         | 3.16%                 | No            |                  2 | On Loan: No      |
| First Investors Auto Owner Tru               | First Investors Auto Owner Trust 2023-1                                        | CUSIP: 320986AG7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    285000 | PA      | $298195.67    | 0.19%             | 2031-01-15      | Fixed         | 7.74%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                   | Fannie Mae REMICS                                                              | CUSIP: 3136BKHZ8<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    299253 | PA      | $53502.92     | 0.03%             | 2051-12-25      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                   | Fannie Mae Pool                                                                | CUSIP: 31418ESR2<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    933143 | PA      | $887021.86    | 0.56%             | 2053-05-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                  | Freddie Mac Pool                                                               | CUSIP: 3132DUT49<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    732718 | PA      | $743744.66    | 0.47%             | 2054-11-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| GS Mortgage Securities Trust                 | GS Mortgage Securities Corp Trust 2017-GPTX                                    | CUSIP: 36257CAA5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    513367 | PA      | $455317.20    | 0.29%             | 2034-05-10      | Fixed         | 2.86%                 | No            |                  2 | On Loan: No      |
| Exeter Automobile Receivables                | Exeter Automobile Receivables Trust 2025-4                                     | CUSIP: 30167KAG6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    295000 | PA      | $290486.65    | 0.18%             | 2033-04-15      | Fixed         | 6.99%                 | No            |                  2 | On Loan: No      |
| BENCHMARK Mortgage Trust                     | Benchmark 2019-B14 Mortgage Trust                                              | CUSIP: 08162YAJ1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    485000 | PA      | $340016.96    | 0.22%             | 2062-12-15      | Variable      | 3.78%                 | No            |                  2 | On Loan: No      |
| Freddie Mac - STACR                          | Freddie Mac STACR Trust 2019-HQA2                                              | CUSIP: 35564MBE4<br>LEI: 549300NKHCH87PYOHD44 | Long             | ABS-MBS          | CORP              | US        |    135000 | PA      | $161951.71    | 0.10%             | 2049-04-25      | Floating      | 15.55%                | No            |                  2 | On Loan: No      |
| CHEVY CHASE MORTGAGE FUNDING C               | Chevy Chase Funding LLC Mortgage-Backed Certificates Series 2005-A             | CUSIP: 16678RDC8<br>LEI: 549300VJ603C97L1MC67 | Long             | ABS-MBS          | CORP              | US        |     24828 | PA      | $23842.10     | 0.02%             | 2036-01-25      | Floating      | 4.36%                 | No            |                  2 | On Loan: No      |
| Tricon American Homes                        | Tricon American Homes 2020-SFR1                                                | CUSIP: 89613GAC0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    335000 | PA      | $328382.01    | 0.21%             | 2038-07-17      | Fixed         | 2.25%                 | No            |                  2 | On Loan: No      |
| Flagship Credit Auto Trust                   | Flagship Credit Auto Trust 2024-1                                              | CUSIP: 33843VAJ2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    345000 | PA      | $340565.61    | 0.22%             | 2030-02-15      | Fixed         | 5.79%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A               | Government National Mortgage Association                                       | CUSIP: 38382AGG4<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |     27211 | PA      | $24869.54     | 0.02%             | 2049-10-20      | Floating      | 3.50%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                   | Fannie Mae Pool                                                                | CUSIP: 31418FGY7<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    385918 | PA      | $389949.55    | 0.25%             | 2055-02-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A               | Government National Mortgage Association                                       | CUSIP: 38383CYH7<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   1010309 | PA      | $149837.53    | 0.10%             | 2050-11-20      | Floating      | 2.15%                 | No            |                  2 | On Loan: No      |
| Bank                                         | BANK 2017-BNK6                                                                 | CUSIP: 060352AV3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    470000 | PA      | $396894.46    | 0.25%             | 2060-07-15      | Fixed         | 3.10%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                   | Fannie Mae Pool                                                                | CUSIP: 31418EKU3<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    412557 | PA      | $413181.85    | 0.26%             | 2052-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A               | Government National Mortgage Association                                       | CUSIP: 38383V7L6<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    628459 | PA      | $92261.38     | 0.06%             | 2050-10-20      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                   | Fannie Mae Pool                                                                | CUSIP: 31418D4Y5<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   2693354 | PA      | $2298622.83   | 1.46%             | 2051-10-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| Flagship Credit Auto Trust                   | Flagship Credit Auto Trust 2021-1                                              | CUSIP: 33843WAG6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     92859 | PA      | $92094.24     | 0.06%             | 2027-03-15      | Fixed         | 1.27%                 | No            |                  2 | On Loan: No      |
| Mello Mortgage Capital Accepta               | Mello Mortgage Capital Acceptance 2021-MTG1                                    | CUSIP: 585495BN3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    106571 | PA      | $88708.15     | 0.06%             | 2051-04-25      | Variable      | 2.50%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                  | Freddie Mac Pool                                                               | CUSIP: 31427NA58<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   1035614 | PA      | $1069364.85   | 0.68%             | 2054-09-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Freddie Mac - SLST                           | Seasoned Loans Structured Transaction Series 2018-1                            | CUSIP: 35564CAA5<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     45377 | PA      | $44581.83     | 0.03%             | 2028-06-25      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Ginniemae Strip                              | Ginnie Mae Strip                                                               | CUSIP: 37610VAA3<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |     15861 | PA      | $13900.10     | 0.01%             | 2034-07-20      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| BWAY Mortgage Trust                          | BWAY 2013-1515 Mortgage Trust                                                  | CUSIP: 05604FAL9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    285000 | PA      | $259404.61    | 0.16%             | 2033-03-10      | Fixed         | 3.45%                 | No            |                  2 | On Loan: No      |
| JP Morgan Mortgage Trust                     | JP Morgan Mortgage Trust 2019-8                                                | CUSIP: 46591KAZ6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     11548 | PA      | $10939.32     | 0.01%             | 2050-03-25      | Floating      | 4.96%                 | No            |                  2 | On Loan: No      |
| LAD Auto Receivables Trust                   | LAD Auto Receivables Trust 2024-2                                              | CUSIP: 505920AG3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    430000 | PA      | $442821.74    | 0.28%             | 2031-10-15      | Fixed         | 6.37%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                  | Freddie Mac Pool                                                               | CUSIP: 3132DWFF5<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   1475143 | PA      | $1444163.88   | 0.92%             | 2052-11-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A               | Government National Mortgage Association                                       | CUSIP: 38383XYN8<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    250397 | PA      | $207815.19    | 0.13%             | 2053-04-20      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A               | Government National Mortgage Association                                       | CUSIP: 38383HFY0<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |     75434 | PA      | $12580.57     | 0.01%             | 2051-08-20      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| CAMB Commercial Mortgage Trust               | CAMB Commercial Mortgage Trust 2021-CX2                                        | CUSIP: 12477BAJ3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    600000 | PA      | $470769.54    | 0.30%             | 2046-11-10      | Variable      | 2.77%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                  | Freddie Mac Pool                                                               | CUSIP: 3132DWEQ2<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   2129523 | PA      | $1966492.08   | 1.25%             | 2052-09-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A               | Government National Mortgage Association                                       | CUSIP: 38382MGE3<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    370888 | PA      | $55806.03     | 0.04%             | 2050-12-20      | Floating      | 2.15%                 | No            |                  2 | On Loan: No      |
| Texas Debt Capital CLO, Ltd                  | Texas Debt Capital CLO 2024-II Ltd                                             | CUSIP: 88238EAE8<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    250000 | PA      | $250870.00    | 0.16%             | 2037-01-24      | Floating      | 5.57%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A               | Government National Mortgage Association                                       | CUSIP: 38382JXP6<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    156269 | PA      | $2172.58      | 0.00%             | 2050-09-20      | Floating      | 0.01%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                  | Freddie Mac Pool                                                               | CUSIP: 3132DWFS7<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    550230 | PA      | $559047.26    | 0.35%             | 2052-12-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Bain Capital Credit CLO, Limit               | Bain Capital Credit CLO 2021-6 Ltd                                             | CUSIP: 05684PAU0<br>LEI: 254900YXN9JEMKU5DF45 | Long             | ABS-CBDO         | CORP              | KY        |    250000 | PA      | $246773.25    | 0.16%             | 2034-10-21      | Floating      | 6.82%                 | No            |                  2 | On Loan: No      |
| JPMDB Commercial Mortgage Secu               | WP Glimcher Mall Trust 2015-WPG                                                | CUSIP: 92939VAG9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    450000 | PA      | $383683.50    | 0.24%             | 2035-06-05      | Variable      | 3.52%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A               | Government National Mortgage Association                                       | CUSIP: 38382NAB3<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   2103289 | PA      | $19571.32     | 0.01%             | 2051-01-20      | Floating      | 0.01%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                   | Fannie Mae Pool                                                                | CUSIP: 31418EP20<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   1492888 | PA      | $1491780.66   | 0.95%             | 2053-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| JP Morgan Chase Commercial Mor               | JP Morgan Chase Commercial Mortgage Securities Trust 2021-1440                 | CUSIP: 46653DAA2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    470000 | PA      | $433260.71    | 0.27%             | 2036-03-15      | Floating      | 5.45%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                   | Fannie Mae REMICS                                                              | CUSIP: 3136BL3H1<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    616653 | PA      | $75090.49     | 0.05%             | 2052-02-25      | Floating      | 1.57%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A               | Government National Mortgage Association                                       | CUSIP: 38382KWJ8<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    128647 | PA      | $18543.37     | 0.01%             | 2050-10-20      | Floating      | 2.15%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A               | Government National Mortgage Association                                       | CUSIP: 38380RHQ6<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    234623 | PA      | $14047.26     | 0.01%             | 2062-06-16      | Variable      | 0.82%                 | No            |                  2 | On Loan: No      |
| Tricon American Homes                        | Tricon American Homes 2020-SFR1                                                | CUSIP: 89613GAD8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    460000 | PA      | $451498.10    | 0.29%             | 2038-07-17      | Fixed         | 2.55%                 | No            |                  2 | On Loan: No      |
| Toyota Auto Loan Extended Note               | Toyota Auto Loan Extended Note Trust 2023-1                                    | CUSIP: 89231WAA1<br>LEI: 5493000KI9FC40RVHF71 | Long             | ABS-O            | CORP              | US        |    100000 | PA      | $102173.22    | 0.06%             | 2036-06-25      | Fixed         | 4.93%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A               | Government National Mortgage Association                                       | CUSIP: 38383TLA9<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   5399902 | PA      | $73832.85     | 0.05%             | 2052-06-20      | Floating      | 0.01%                 | No            |                  2 | On Loan: No      |
| SOFI CONSUMER LOAN PROGRAM TRU               | SoFi Consumer Loan Program 2025-1 Trust                                        | CUSIP: 83406YAB7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    370000 | PA      | $373865.32    | 0.24%             | 2034-02-27      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                   | Fannie Mae REMICS                                                              | CUSIP: 3136BSLE3<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   2327836 | PA      | $125276.22    | 0.08%             | 2054-07-25      | Floating      | 1.72%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A               | Government National Mortgage Association                                       | CUSIP: 38383CTL4<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   1179826 | PA      | $194713.64    | 0.12%             | 2051-10-20      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| Freddiemac Strip                             | Freddie Mac Strips                                                             | CUSIP: 31325URK4<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   1179856 | PA      | $128697.22    | 0.08%             | 2043-08-15      | Floating      | 1.60%                 | No            |                  2 | On Loan: No      |
| GLS Auto Receivables Trust                   | GLS Auto Receivables Issuer Trust 2025-1                                       | CUSIP: 36271KAL5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    610000 | PA      | $616909.47    | 0.39%             | 2030-11-15      | Fixed         | 5.61%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                  | Freddie Mac Pool                                                               | CUSIP: 3132DWHT3<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   1133560 | PA      | $1148619.90   | 0.73%             | 2053-07-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                   | Fannie Mae Pool                                                                | CUSIP: 31418ED80<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   2087116 | PA      | $1991075.35   | 1.26%             | 2052-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| SUBWAY FUNDING LLC                           | Subway Funding LLC                                                             | CUSIP: 864300AA6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    351450 | PA      | $355692.56    | 0.23%             | 2054-07-30      | Fixed         | 6.03%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                  | Freddie Mac REMICS                                                             | CUSIP: 3137FWMZ0<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    895645 | PA      | $25513.33     | 0.02%             | 2050-10-25      | Floating      | 0.01%                 | No            |                  2 | On Loan: No      |
| Freddiemac Strip                             | Freddie Mac Strips                                                             | CUSIP: 3128HXY25<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    146582 | PA      | $114784.07    | 0.07%             | 2042-08-15      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Wells Fargo Commercial Mortgag               | Wells Fargo Commercial Mortgage Trust 2019-C51                                 | CUSIP: 95001VAZ3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    445000 | PA      | $373540.30    | 0.24%             | 2052-06-15      | Variable      | 4.29%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A               | Government National Mortgage Association                                       | CUSIP: 38383LBB5<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    311334 | PA      | $35677.72     | 0.02%             | 2050-02-20      | Floating      | 1.90%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A               | Government National Mortgage Association                                       | CUSIP: 38383C3B4<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    128480 | PA      | $106691.79    | 0.07%             | 2051-11-20      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A               | Government National Mortgage Association                                       | CUSIP: 38382RR75<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |     81030 | PA      | $13751.97     | 0.01%             | 2051-04-20      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| CIM Trust                                    | CIM Trust 2025-NR1                                                             | CUSIP: 17181YAA8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    265300 | PA      | $261284.06    | 0.17%             | 2064-06-25      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| Woodward Capital Management                  | RCKT Mortgage Trust 2021-5                                                     | CUSIP: 749384AA1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   4317088 | PA      | $3620452.06   | 2.30%             | 2051-11-25      | Variable      | 2.50%                 | No            |                  2 | On Loan: No      |
| Fannie Mae - CAS                             | Connecticut Avenue Securities Trust 2020-SBT1                                  | CUSIP: 20753VBT4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    715000 | PA      | $754961.28    | 0.48%             | 2040-02-25      | Floating      | 11.22%                | No            |                  2 | On Loan: No      |
| IndyMac INDX Mortgage Loan Tru               | IndyMac INDX Mortgage Loan Trust 2005-AR12                                     | CUSIP: 45660LMG1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     70801 | PA      | $66234.31     | 0.04%             | 2035-07-25      | Floating      | 4.59%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A               | Government National Mortgage Association                                       | CUSIP: 38381JN94<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   1496791 | PA      | $94499.61     | 0.06%             | 2065-10-16      | Variable      | 0.82%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                   | Fannie Mae Pool                                                                | CUSIP: 3140XKAD2<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     47694 | PA      | $48726.55     | 0.03%             | 2053-08-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association     | GNR 2025-25 P 11/54                                                            | CUSIP: 38385DFK7<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    382629 | PA      | $395146.40    | 0.25%             | 2054-11-20      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| Fanniemae Strip                              | Fannie Mae Interest Strip                                                      | CUSIP: 31424U8A7<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   1311451 | PA      | $277079.78    | 0.18%             | 2053-10-25      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| AGL CLO Ltd.                                 | AGL CLO 35 Ltd                                                                 | CUSIP: 00852KAB0<br>LEI: 254900LDCU83O7QV9777 | Long             | ABS-CBDO         | CORP              | KY        |    250000 | PA      | $250355.25    | 0.16%             | 2038-01-21      | Floating      | 5.42%                 | No            |                  2 | On Loan: No      |
| Freddie Mac - STACR                          | STACR Trust 2018-HRP1                                                          | CUSIP: 3137G0VB2<br>LEI: 549300D2VO9JVX6KU482 | Long             | ABS-MBS          | CORP              | US        |    523921 | PA      | $626059.64    | 0.40%             | 2043-05-25      | Floating      | 16.05%                | No            |                  2 | On Loan: No      |
| BOARD OF TRADE OF THE CITY OF CHICAGO, INC.  | US 5YR NOTE (CBT)                                                              | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DIR              | CORP              | US        |        10 | NC      | $-68.57       | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| Fannie Mae                                   | Fannie Mae Pool                                                                | CUSIP: 3140X7KB4<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     27860 | PA      | $24984.42     | 0.02%             | 2050-07-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Zayo Issuer LLC                              | Zayo Issuer LLC                                                                | CUSIP: 98919WAC7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    470000 | PA      | $477983.70    | 0.30%             | 2055-03-20      | Fixed         | 6.09%                 | No            |                  2 | On Loan: No      |
| Flagship Credit Auto Trust                   | Flagship Credit Auto Trust 2021-2                                              | CUSIP: 33844WAG5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     93144 | PA      | $91956.25     | 0.06%             | 2027-06-15      | Fixed         | 1.59%                 | No            |                  2 | On Loan: No      |
| GS Mortgage-Backed Securities                | GS Mortgage-Backed Securities Corp Trust 2022-PJ4                              | CUSIP: 36264RAE5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1581928 | PA      | $1323690.94   | 0.84%             | 2052-09-25      | Variable      | 2.50%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                  | Freddie Mac Pool                                                               | CUSIP: 3132DSS52<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     62221 | PA      | $63354.03     | 0.04%             | 2054-03-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Fanniemae Strip                              | Fannie Mae Interest Strip                                                      | CUSIP: 31422MZU3<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    173597 | PA      | $16572.44     | 0.01%             | 2052-02-25      | Fixed         | 1.50%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                   | Fannie Mae REMICS                                                              | CUSIP: 3136ARD62<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    118830 | PA      | $11177.20     | 0.01%             | 2046-04-25      | Floating      | 1.80%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A               | Government National Mortgage Association                                       | CUSIP: 38383VFN3<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    173815 | PA      | $158987.66    | 0.10%             | 2052-01-20      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Avenue of Americas                           | 1301 Trust 2025-AOA                                                            | CUSIP: 682461AJ7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    385000 | PA      | $390631.59    | 0.25%             | 2042-08-11      | Variable      | 6.22%                 | No            |                  2 | On Loan: No      |
| Flagstar Mortgage Trust                      | Flagstar Mortgage Trust 2021-9INV                                              | CUSIP: 33851MAG7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1034286 | PA      | $929532.67    | 0.59%             | 2041-09-25      | Variable      | 2.50%                 | No            |                  2 | On Loan: No      |
| NCMF Trust                                   | NCMF Trust 2025-MFS                                                            | CUSIP: 62887TAG9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    375000 | PA      | $381408.41    | 0.24%             | 2033-06-10      | Variable      | 6.62%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                  | Freddie Mac REMICS                                                             | CUSIP: 3137H5N86<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     66655 | PA      | $12056.83     | 0.01%             | 2050-09-25      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Residential Accredit Loans, In               | RALI Series 2007-QO3 Trust                                                     | CUSIP: 74923TAA3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     82674 | PA      | $78193.75     | 0.05%             | 2047-03-25      | Floating      | 4.43%                 | No            |                  2 | On Loan: No      |
| Freddiemac Strip                             | Freddie Mac Strips                                                             | CUSIP: 3128HWPJ0<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     47711 | PA      | $40060.62     | 0.03%             | 2037-05-15      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Avis Budget Rental Car Funding               | Avis Budget Rental Car Funding AESOP LLC                                       | CUSIP: 05377RJY1<br>LEI: IHXLB8SL0QWSSG2VG640 | Long             | ABS-O            | CORP              | US        |    495000 | PA      | $508323.29    | 0.32%             | 2030-02-20      | Fixed         | 7.52%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                   | Fannie Mae Pool                                                                | CUSIP: 3140XRQF5<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    283797 | PA      | $278663.29    | 0.18%             | 2053-08-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                   | Fannie Mae REMICS                                                              | CUSIP: 3136BWDC7<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   1733557 | PA      | $64722.69     | 0.04%             | 2055-06-25      | Floating      | 0.92%                 | No            |                  2 | On Loan: No      |
| Freddiemac Strip                             | Freddie Mac Strips                                                             | CUSIP: 3133Q3C33<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     86568 | PA      | $74657.47     | 0.05%             | 2053-09-25      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Freddiemac Strip                             | Freddie Mac Strips                                                             | CUSIP: 3142G4PC9<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    594917 | PA      | $119953.35    | 0.08%             | 2053-01-25      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A               | Government National Mortgage Association                                       | CUSIP: 38382LBS9<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    439636 | PA      | $66141.21     | 0.04%             | 2050-11-20      | Floating      | 2.15%                 | No            |                  2 | On Loan: No      |
| Mill City Mortgage Trust                     | Mill City Mortgage Loan Trust 2018-4                                           | CUSIP: 59980YAN5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    414516 | PA      | $262527.73    | 0.17%             | 2066-04-25      | Variable      | 3.07%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A               | Government National Mortgage Association                                       | CUSIP: 38383RYT8<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   2134962 | PA      | $31423.65     | 0.02%             | 2052-05-20      | Floating      | 0.01%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A               | Government National Mortgage Association                                       | CUSIP: 38382AEQ4<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |     26759 | PA      | $24235.11     | 0.02%             | 2049-10-20      | Floating      | 3.50%                 | No            |                  2 | On Loan: No      |
| MSWF Commercial Mortgage Trust               | MSWF Commercial Mortgage Trust 2023-2                                          | CUSIP: 55361AAX2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     75000 | PA      | $81844.01     | 0.05%             | 2056-12-15      | Variable      | 6.49%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A               | Government National Mortgage Association                                       | CUSIP: 38383CFZ8<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |     98077 | PA      | $16746.35     | 0.01%             | 2051-10-20      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                  | Freddie Mac Pool                                                               | CUSIP: 3132DWHA4<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    121558 | PA      | $124789.35    | 0.08%             | 2053-05-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| CIM Trust                                    | CIM Trust 2021-J3                                                              | CUSIP: 12565VBG7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    113811 | PA      | $94757.04     | 0.06%             | 2051-06-25      | Variable      | 2.50%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A               | Government National Mortgage Association                                       | CUSIP: 38382XTS4<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    441103 | PA      | $374381.96    | 0.24%             | 2051-08-20      | Floating      | 2.50%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                  | Freddie Mac Pool                                                               | CUSIP: 3132DWDZ3<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    446325 | PA      | $395910.42    | 0.25%             | 2052-06-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Wells Fargo Commercial Mortgag               | Wells Fargo Commercial Mortgage Trust 2022-ONL                                 | CUSIP: 95003WAL0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    350000 | PA      | $315130.27    | 0.20%             | 2039-12-15      | Variable      | 4.93%                 | No            |                  2 | On Loan: No      |
| Freddie Mac - STACR                          | Freddie Mac STACR Trust 2019-FTR3                                              | CUSIP: 35565EAE2<br>LEI: 5493009ZFZYH4FRCW638 | Long             | ABS-MBS          | CORP              | US        |    500000 | PA      | $537539.05    | 0.34%             | 2047-09-25      | Floating      | 9.27%                 | No            |                  2 | On Loan: No      |
| Exeter Automobile Receivables                | Exeter Automobile Receivables Trust 2022-2                                     | CUSIP: 30166QAG4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    655000 | PA      | $635147.87    | 0.40%             | 2029-10-15      | Fixed         | 6.34%                 | No            |                  2 | On Loan: No      |
| SWCH Commercial Mortgage Trust               | SWCH Commercial Mortgage Trust 2025-DATA                                       | CUSIP: 78489CAA7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    320000 | PA      | $318000.00    | 0.20%             | 2042-02-15      | Floating      | 5.48%                 | No            |                  2 | On Loan: No      |
| Chase Mortgage Finance Corpora               | Chase Mortgage Finance Trust Series 2005-S3                                    | CUSIP: 16162WNQ8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     47363 | PA      | $33495.98     | 0.02%             | 2035-11-25      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A               | Ginnie Mae II Pool                                                             | CUSIP: 3622AC5F3<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   1237487 | PA      | $1084770.94   | 0.69%             | 2053-09-20      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Bank                                         | BANK 2020-BNK25                                                                | CUSIP: 06539WAA4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    395000 | PA      | $307325.80    | 0.20%             | 2063-01-15      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| Aimco                                        | AIMCO CLO Series 2018-A                                                        | CUSIP: 00900GAQ8<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    300000 | PA      | $300871.20    | 0.19%             | 2037-10-17      | Floating      | 5.53%                 | No            |                  2 | On Loan: No      |
| Onslow Bay Financial LLC                     | OBX 2025-J3 Trust                                                              | CUSIP: 67449KAU7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    446822 | PA      | $446740.96    | 0.28%             | 2055-10-25      | Floating      | 5.68%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A               | Government National Mortgage Association                                       | CUSIP: 38379XY20<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    602151 | PA      | $142565.27    | 0.09%             | 2044-07-20      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                  | Freddie Mac REMICS                                                             | CUSIP: 3137FU6G4<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    138995 | PA      | $19897.67     | 0.01%             | 2050-07-25      | Floating      | 1.75%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A               | Government National Mortgage Association                                       | CUSIP: 38380RA75<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    358726 | PA      | $24154.05     | 0.02%             | 2061-03-16      | Variable      | 0.99%                 | No            |                  2 | On Loan: No      |
| Banc of America Commercial Mor               | Bank of America Merrill Lynch Commercial Mortgage Trust 2016-UBS10             | CUSIP: 06054MAW3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    440000 | PA      | $379722.46    | 0.24%             | 2049-07-15      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Citigroup Commercial Mortgage                | Citigroup Commercial Mortgage Trust 2018-B2                                    | CUSIP: 17327FAJ5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1070000 | PA      | $829216.62    | 0.53%             | 2051-03-10      | Variable      | 3.14%                 | No            |                  2 | On Loan: No      |
| Bayview Opportunity Master Fun               | Bayview Opportunity Master Fund VII 2024-EDU1 LLC                              | CUSIP: 07336PAD6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     56153 | PA      | $56623.02     | 0.04%             | 2047-06-25      | Floating      | 6.93%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A               | Government National Mortgage Association                                       | CUSIP: 38382LTQ4<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    118291 | PA      | $15565.23     | 0.01%             | 2050-12-20      | Floating      | 1.59%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A               | Government National Mortgage Association                                       | CUSIP: 38383XSW5<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |     54573 | PA      | $49569.15     | 0.03%             | 2053-04-20      | Floating      | 2.83%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A               | Government National Mortgage Association                                       | CUSIP: 38381JZC4<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   1906678 | PA      | $136617.07    | 0.09%             | 2065-07-16      | Variable      | 0.95%                 | No            |                  2 | On Loan: No      |
| New Residential Mortgage Loan                | New Residential Mortgage Loan Trust 2019-RPL3                                  | CUSIP: 64830NAH4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    465000 | PA      | $403046.28    | 0.26%             | 2059-07-25      | Variable      | 3.98%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                  | Freddie Mac REMICS                                                             | CUSIP: 3137HLKW1<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    616824 | PA      | $45741.11     | 0.03%             | 2055-06-25      | Floating      | 2.82%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                  | Freddie Mac REMICS                                                             | CUSIP: 3137H3AM4<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     84682 | PA      | $14692.47     | 0.01%             | 2050-07-25      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Flagship Credit Auto Trust                   | Flagship Credit Auto Trust 2022-1                                              | CUSIP: 33845VAG6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    335000 | PA      | $313049.59    | 0.20%             | 2028-03-15      | Fixed         | 3.64%                 | No            |                  2 | On Loan: No      |
| CF Hippolyta Issuer LLC                      | CF Hippolyta Issuer LLC                                                        | CUSIP: 12530MAA3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    451047 | PA      | $385806.10    | 0.24%             | 2060-07-15      | Fixed         | 1.69%                 | No            |                  2 | On Loan: No      |
| Zayo Issuer LLC                              | Zayo Issuer LLC                                                                | CUSIP: 98919WAN3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    485000 | PA      | $487571.86    | 0.31%             | 2055-10-20      | Fixed         | 5.57%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                   | Fannie Mae Pool                                                                | CUSIP: 31418ESJ0<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    679432 | PA      | $689549.51    | 0.44%             | 2043-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                   | Fannie Mae Pool                                                                | CUSIP: 31418EPD6<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    766818 | PA      | $778070.66    | 0.49%             | 2053-02-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| COMM Mortgage Trust                          | COMM 2016-DC2 Mortgage Trust                                                   | CUSIP: 12594CBK5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    395000 | PA      | $391330.41    | 0.25%             | 2049-02-10      | Variable      | 4.67%                 | No            |                  2 | On Loan: No      |
| Hyundai Auto Receivables Trust               | Hyundai Auto Receivables Trust 2024-B                                          | CUSIP: 44934QAG6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    210000 | PA      | $214618.76    | 0.14%             | 2031-10-15      | Fixed         | 5.29%                 | No            |                  2 | On Loan: No      |
| CarMax Select Receivables Trus               | CarMax Select Receivables Trust 2025-A                                         | CUSIP: 14319UAF7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    305000 | PA      | $311698.38    | 0.20%             | 2031-07-15      | Fixed         | 5.86%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A               | Government National Mortgage Association                                       | CUSIP: 38381HGG0<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |     42755 | PA      | $20918.55     | 0.01%             | 2061-09-16      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                   | Fannie Mae Pool                                                                | CUSIP: 3140XPND7<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     68860 | PA      | $70106.57     | 0.04%             | 2054-04-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                  | Freddie Mac REMICS                                                             | CUSIP: 3137HHEW7<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   3530051 | PA      | $149427.08    | 0.09%             | 2054-11-25      | Floating      | 1.17%                 | No            |                  2 | On Loan: No      |
| JP Morgan Mortgage Trust                     | JP Morgan Mortgage Trust 2021-11                                               | CUSIP: 46654KAC1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1371306 | PA      | $1150879.64   | 0.73%             | 2052-01-25      | Variable      | 2.50%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A               | Government National Mortgage Association                                       | CUSIP: 38382QAD2<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   1650891 | PA      | $229923.82    | 0.15%             | 2051-03-20      | Floating      | 2.15%                 | No            |                  2 | On Loan: No      |
| Citigroup Mortgage Loan Trust                | Citigroup Mortgage Loan Trust 2025-4                                           | CUSIP: 17332NAB8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    298041 | PA      | $298704.71    | 0.19%             | 2055-10-25      | Variable      | 5.50%                 | No            |                  2 | On Loan: No      |
| Fannie Mae - CAS                             | Connecticut Avenue Securities Trust 2024-R02                                   | CUSIP: 20754GAF7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     65000 | PA      | $66494.41     | 0.04%             | 2044-02-25      | Floating      | 6.68%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A               | Government National Mortgage Association                                       | CUSIP: 38382MV97<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    839517 | PA      | $141646.67    | 0.09%             | 2051-01-20      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Freddie Mac - STACR                          | Freddie Mac STACR REMIC Trust 2021-HQA3                                        | CUSIP: 35564KKL2<br>LEI: 5493000ISHRHX47NOH65 | Long             | ABS-MBS          | CORP              | US        |   1070000 | PA      | $1109147.98   | 0.70%             | 2041-09-25      | Floating      | 10.43%                | No            |                  2 | On Loan: No      |
| CF Hippolyta Issuer LLC                      | CF Hippolyta Issuer LLC                                                        | CUSIP: 12530MAB1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    392376 | PA      | $328362.33    | 0.21%             | 2060-07-15      | Fixed         | 1.99%                 | No            |                  2 | On Loan: No      |
| Towd Point Mortgage Trust                    | Towd Point Mortgage Trust 2018-2                                               | CUSIP: 89175VAJ2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1216969 | PA      | $537531.16    | 0.34%             | 2058-03-25      | Variable      | 3.40%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                  | Freddie Mac Gold Pool                                                          | CUSIP: 3128MJ4R8<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     11440 | PA      | $11074.49     | 0.01%             | 2048-08-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A               | Government National Mortgage Association                                       | CUSIP: 38382TM27<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |     75891 | PA      | $13227.97     | 0.01%             | 2051-06-20      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                  | Freddie Mac REMICS                                                             | CUSIP: 3137FYEX0<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     97036 | PA      | $84786.12     | 0.05%             | 2041-01-15      | Fixed         | 1.00%                 | No            |                  2 | On Loan: No      |
| BRAVO Residential Funding Trus               | BRAVO Residential Funding Trust 2024-NQM8                                      | CUSIP: 10571DAB5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    268507 | PA      | $266104.30    | 0.17%             | 2053-08-01      | Variable      | 4.30%                 | No            |                  2 | On Loan: No      |
| Fannie Mae - CAS                             | Connecticut Avenue Securities Series 2025-R01                                  | CUSIP: 20755JAG8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    410000 | PA      | $408595.30    | 0.26%             | 2045-01-25      | Floating      | 5.88%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A               | Government National Mortgage Association                                       | CUSIP: 38382UYG0<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   1110167 | PA      | $164400.23    | 0.10%             | 2051-06-20      | Floating      | 2.20%                 | No            |                  2 | On Loan: No      |
| Sequoia Mortgage Trust                       | Sequoia Mortgage Trust 2025-S1                                                 | CUSIP: 81749TAG7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    500000 | PA      | $339712.95    | 0.22%             | 2054-09-25      | Variable      | 2.50%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                   | Fannie Mae REMICS                                                              | CUSIP: 3136BK4K5<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    100598 | PA      | $12473.99     | 0.01%             | 2052-01-25      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| JP Morgan Mortgage Trust                     | JP Morgan Mortgage Trust 2021-4                                                | CUSIP: 46652VBT1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    946383 | PA      | $787722.10    | 0.50%             | 2051-08-25      | Variable      | 2.88%                 | No            |                  2 | On Loan: No      |
| CF Hippolyta Issuer LLC                      | CF Hippolyta Issuer LLC                                                        | CUSIP: 12530MAC9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    422742 | PA      | $292054.57    | 0.19%             | 2060-07-15      | Fixed         | 2.28%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A               | Government National Mortgage Association                                       | CUSIP: 38380REA4<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   2067130 | PA      | $149500.04    | 0.09%             | 2062-12-16      | Variable      | 0.97%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                   | Fannie Mae Pool                                                                | CUSIP: 31418E5P1<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    758937 | PA      | $767758.38    | 0.49%             | 2054-05-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Multifamily Connecticut Avenue               | Multifamily Connecticut Avenue Securities Trust 2025-01                        | CUSIP: 62549CAC5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    590000 | PA      | $610273.70    | 0.39%             | 2055-05-25      | Floating      | 9.38%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                   | Fannie Mae Pool                                                                | CUSIP: 3140XKKS8<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     22149 | PA      | $22166.63     | 0.01%             | 2053-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                   | Fannie Mae REMICS                                                              | CUSIP: 3136B7L58<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    178551 | PA      | $157687.00    | 0.10%             | 2050-01-25      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Freddie Mac - STACR                          | Freddie Mac STACR Trust 2019-FTR1                                              | CUSIP: 35564PAC2<br>LEI: 549300MHCI0CUXMJQS62 | Long             | ABS-MBS          | CORP              | US        |    385000 | PA      | $456858.06    | 0.29%             | 2048-01-25      | Floating      | 12.65%                | No            |                  2 | On Loan: No      |
| Fannie Mae                                   | Fannie Mae REMICS                                                              | CUSIP: 3136BTSF1<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    432779 | PA      | $443844.85    | 0.28%             | 2035-10-25      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Multifamily Connecticut Avenue               | Multifamily Connecticut Avenue Securities Trust 2019-01                        | CUSIP: 62547NAC3<br>LEI: 549300HG8ZEWVWVSN227 | Long             | ABS-MBS          | CORP              | US        |    435000 | PA      | $441100.14    | 0.28%             | 2049-10-25      | Floating      | 9.80%                 | No            |                  2 | On Loan: No      |
| JP Morgan Mortgage Trust                     | J.P. Morgan Mortgage Trust 2022-1                                              | CUSIP: 46654WAE1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    737666 | PA      | $619092.33    | 0.39%             | 2052-07-25      | Variable      | 2.50%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                  | Freddie Mac REMICS                                                             | CUSIP: 3137F9Y54<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     61747 | PA      | $11244.12     | 0.01%             | 2050-08-25      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                  | Freddie Mac REMICS                                                             | CUSIP: 3137FYQ58<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    492671 | PA      | $79380.76     | 0.05%             | 2051-04-25      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| AGL CLO Ltd.                                 | AGL CLO 32 Ltd                                                                 | CUSIP: 00121BAA7<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    250000 | PA      | $250498.50    | 0.16%             | 2037-07-21      | Floating      | 5.25%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                   | Fannie Mae Pool                                                                | CUSIP: 31418ECQ1<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   1194698 | PA      | $1019711.89   | 0.65%             | 2052-04-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                   | Fannie Mae REMICS                                                              | CUSIP: 3136ATEN0<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     59766 | PA      | $6870.68      | 0.00%             | 2046-06-25      | Floating      | 1.75%                 | No            |                  2 | On Loan: No      |
| Freddie Mac - STACR                          | Freddie Mac STACR REMIC Trust 2021-HQA4                                        | CUSIP: 35564KPP8<br>LEI: 5493000ISE4NWBTOSK36 | Long             | ABS-MBS          | CORP              | US        |    713000 | PA      | $752083.52    | 0.48%             | 2041-12-25      | Floating      | 11.18%                | No            |                  2 | On Loan: No      |
| LSTAR Commercial Mortgage Trus               | LSTAR Commercial Mortgage Trust 2017-5                                         | CUSIP: 54910TAS1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    440000 | PA      | $372922.00    | 0.24%             | 2050-03-10      | Variable      | 4.68%                 | No            |                  2 | On Loan: No      |
| Banc of America Alternative Lo               | Banc of America Alternative Loan Trust 2005-11                                 | CUSIP: 05948KU80<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     38465 | PA      | $35298.92     | 0.02%             | 2035-12-25      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| ROCC Trust                                   | ROCK Trust 2024-CNTR                                                           | CUSIP: 74970WAJ9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    790000 | PA      | $833679.89    | 0.53%             | 2041-11-13      | Fixed         | 8.82%                 | No            |                  2 | On Loan: No      |
| JP Morgan Mortgage Trust                     | JP Morgan Mortgage Trust 2024-INV1                                             | CUSIP: 46658PAD4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    579629 | PA      | $587741.63    | 0.37%             | 2055-04-25      | Variable      | 6.00%                 | No            |                  2 | On Loan: No      |
| Consolidated Communications LL               | Consolidated Communications LLC/Fidium Fiber Finance Holdco LLC                | CUSIP: 209031AA1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    400000 | PA      | $408671.84    | 0.26%             | 2055-05-20      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Fanniemae Strip                              | Fannie Mae Interest Strip                                                      | CUSIP: 31424UWR3<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    733050 | PA      | $162827.14    | 0.10%             | 2053-08-25      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Bank                                         | BANK 2017-BNK4                                                                 | CUSIP: 06541FBF5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    255000 | PA      | $225095.08    | 0.14%             | 2050-05-15      | Variable      | 4.37%                 | No            |                  2 | On Loan: No      |
| GLS Auto Receivables Trust                   | GLS Auto Receivables Issuer Trust 2024-2                                       | CUSIP: 37964VAF4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    700000 | PA      | $717165.05    | 0.46%             | 2030-02-15      | Fixed         | 6.19%                 | No            |                  2 | On Loan: No      |
| GS Mortgage-Backed Securities                | GS Mortage-Backed Securities Trust 2020-PJ1                                    | CUSIP: 36258FAA7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    318792 | PA      | $286879.11    | 0.18%             | 2050-05-25      | Variable      | 3.50%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                  | Freddie Mac Pool                                                               | CUSIP: 3133KG6R4<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     32652 | PA      | $32501.59     | 0.02%             | 2049-11-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A               | Government National Mortgage Association                                       | CUSIP: 38381JA72<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   2249580 | PA      | $208878.27    | 0.13%             | 2066-02-16      | Variable      | 1.33%                 | No            |                  2 | On Loan: No      |
| Angel Oak Mortgage Trust                     | Angel Oak Mortgage Trust 2025-3                                                | CUSIP: 03466RAA9<br>LEI: 254900U85BAJNPG0MG65 | Long             | ABS-MBS          | CORP              | US        |    597773 | PA      | $600663.41    | 0.38%             | 2070-03-25      | Variable      | 5.42%                 | No            |                  2 | On Loan: No      |
| Hilton USA Trust                             | HILT COMMERCIAL MORTGAGE TRUST 2024-ORL                                        | CUSIP: 403956AG0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    100000 | PA      | $100125.00    | 0.06%             | 2037-05-15      | Floating      | 7.22%                 | No            |                  2 | On Loan: No      |
| HarborView Mortgage Loan Trust               | HarborView Mortgage Loan Trust 2005-2                                          | CUSIP: 41161PLR2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     63471 | PA      | $61727.63     | 0.04%             | 2035-05-19      | Floating      | 4.59%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                  | Freddie Mac REMICS                                                             | CUSIP: 3137H67L3<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     58652 | PA      | $6052.11      | 0.00%             | 2048-12-25      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A               | Government National Mortgage Association                                       | CUSIP: 38382VAW9<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    108087 | PA      | $15372.07     | 0.01%             | 2051-06-20      | Floating      | 2.15%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A               | Government National Mortgage Association                                       | CUSIP: 38384ABU6<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    171286 | PA      | $159799.53    | 0.10%             | 2050-05-20      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| WAMU Mortgage Pass-Through Cer               | WaMu Mortgage Pass-Through Certificates Series 2004-AR8 Trust                  | CUSIP: 92922FTJ7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     81405 | PA      | $82176.45     | 0.05%             | 2044-06-25      | Floating      | 4.95%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                   | Fannie Mae REMICS                                                              | CUSIP: 3136BDR42<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   1067905 | PA      | $183742.06    | 0.12%             | 2051-02-25      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                  | Freddie Mac REMICS                                                             | CUSIP: 3137HKSD7<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   1362098 | PA      | $85710.13     | 0.05%             | 2055-04-25      | Floating      | 1.72%                 | No            |                  2 | On Loan: No      |
| Credit Suisse Mortgage Trust                 | CSMC 2021-NQM2                                                                 | CUSIP: 12662EAB9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    412277 | PA      | $371414.80    | 0.24%             | 2066-02-25      | Variable      | 1.38%                 | No            |                  2 | On Loan: No      |
| Barclays Commercial Mortgage S               | BBCMS Mortgage Trust 2024-C24                                                  | CUSIP: 07336VAW1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     70000 | PA      | $73628.54     | 0.05%             | 2057-02-15      | Fixed         | 5.87%                 | No            |                  2 | On Loan: No      |
| Mill City Mortgage Trust                     | Mill City Mortgage Loan Trust 2018-3                                           | CUSIP: 59980XAL1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    693522 | PA      | $539173.02    | 0.34%             | 2058-08-25      | Variable      | 3.25%                 | No            |                  2 | On Loan: No      |
| Fannie Mae - CAS                             | Connecticut Avenue Securities Trust 2024-R03                                   | CUSIP: 207941AB1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    395000 | PA      | $397468.75    | 0.25%             | 2044-03-25      | Floating      | 6.13%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A               | Government National Mortgage Association                                       | CUSIP: 38382GK68<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    223085 | PA      | $28582.45     | 0.02%             | 2049-08-20      | Floating      | 1.95%                 | No            |                  2 | On Loan: No      |
| MLCC Mortgage Investors Inc                  | Merrill Lynch Mortgage Investors Trust Series MLCC 2004-F                      | CUSIP: 59020UNF8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     52331 | PA      | $46073.94     | 0.03%             | 2029-12-25      | Variable      | 5.50%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                   | Fannie Mae Pool                                                                | CUSIP: 3140M2SF0<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     98324 | PA      | $87366.67     | 0.06%             | 2052-01-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Flagship Credit Auto Trust                   | Flagship Credit Auto Trust 2020-3                                              | CUSIP: 33844TAG2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      2124 | PA      | $2121.99      | 0.00%             | 2026-09-15      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A               | Ginnie Mae II Pool                                                             | CUSIP: 36179WR34<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    835224 | PA      | $751168.06    | 0.48%             | 2051-11-20      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                  | Freddie Mac Pool                                                               | CUSIP: 3132DWE58<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    524167 | PA      | $499450.03    | 0.32%             | 2052-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                  | Freddie Mac Pool                                                               | CUSIP: 3132DWBP7<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    718762 | PA      | $587367.39    | 0.37%             | 2051-05-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                  | Freddie Mac Pool                                                               | CUSIP: 3133KLPT8<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    982550 | PA      | $871089.85    | 0.55%             | 2051-03-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Vantage Data Centers LLC                     | Vantage Data Centers Issuer LLC                                                | CUSIP: 92212KAD8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    500000 | PA      | $487455.15    | 0.31%             | 2046-10-15      | Fixed         | 2.17%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A               | Government National Mortgage Association                                       | CUSIP: 38383XXB5<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |     63960 | PA      | $70947.74     | 0.05%             | 2051-09-20      | Variable      | 7.10%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                  | Freddie Mac Pool                                                               | CUSIP: 31334XTG4<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     13364 | PA      | $12013.69     | 0.01%             | 2049-08-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Agate Bay Mortgage Loan Trust                | Agate Bay Mortgage Trust 2015-5                                                | CUSIP: 00842BAV9<br>LEI: 549300RM62GNIVQ1WJ04 | Long             | ABS-MBS          | CORP              | US        |     30864 | PA      | $25111.02     | 0.02%             | 2045-07-25      | Variable      | 3.57%                 | No            |                  2 | On Loan: No      |
| MFT Trust                                    | MFT Trust 2020-ABC                                                             | CUSIP: 55317BAE7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    260000 | PA      | $203976.50    | 0.13%             | 2042-02-10      | Variable      | 3.48%                 | No            |                  2 | On Loan: No      |
| Bridgecrest Lending Auto Secur               | Bridgecrest Lending Auto Securitization Trust 2025-2                           | CUSIP: 10807HAF3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    390000 | PA      | $392765.10    | 0.25%             | 2031-03-17      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| Ally Bank Auto Credit-Linked N               | Ally Bank Auto Credit-Linked Notes Series 2024-B                               | CUSIP: 02007G4H3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    504935 | PA      | $517252.53    | 0.33%             | 2032-09-15      | Fixed         | 11.39%                | No            |                  2 | On Loan: No      |
| Fannie Mae                                   | Fannie Mae REMICS                                                              | CUSIP: 3136B9ET0<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     66517 | PA      | $9379.77      | 0.01%             | 2050-02-25      | Floating      | 1.75%                 | No            |                  2 | On Loan: No      |
| Flagship Credit Auto Trust                   | Flagship Credit Auto Trust 2021-4                                              | CUSIP: 33845AAC1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     21141 | PA      | $20974.95     | 0.01%             | 2027-12-15      | Fixed         | 1.96%                 | No            |                  2 | On Loan: No      |
| SILVER POINT SCF CLO LTD                     | Silver Point Scf Clo IV Ltd                                                    | CUSIP: 82809JAE9<br>LEI: 549300JT1NOSMVUW1B50 | Long             | ABS-CBDO         | CORP              | KY        |    250000 | PA      | $251239.50    | 0.16%             | 2036-10-15      | Floating      | 5.85%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A               | Government National Mortgage Association                                       | CUSIP: 38382KAZ6<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    136393 | PA      | $19905.61     | 0.01%             | 2050-10-20      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| Progress Residential Trust                   | Progress Residential 2025-SFR3 Trust                                           | CUSIP: 74334BAG2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    355000 | PA      | $324386.50    | 0.21%             | 2042-07-17      | Fixed         | 3.39%                 | No            |                  2 | On Loan: No      |
| Provident Funding Mortgage Tru               | Provident Funding Mortgage Trust 2021-INV1                                     | CUSIP: 74387VAZ2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    598698 | PA      | $508670.44    | 0.32%             | 2051-08-25      | Variable      | 2.78%                 | No            |                  2 | On Loan: No      |
| BENCHMARK Mortgage Trust                     | Benchmark 2019-B9 Mortgage Trust                                               | CUSIP: 08160JAK3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    300000 | PA      | $264308.88    | 0.17%             | 2052-03-15      | Variable      | 4.97%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                  | Freddie Mac Pool                                                               | CUSIP: 3132DUQT7<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   1215315 | PA      | $1231807.37   | 0.78%             | 2054-11-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| BENCHMARK Mortgage Trust                     | Benchmark 2018-B1 Mortgage Trust                                               | CUSIP: 08162PBB6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    649000 | PA      | $534339.09    | 0.34%             | 2051-01-15      | Variable      | 4.20%                 | No            |                  2 | On Loan: No      |
| LAD Auto Receivables Trust                   | LAD Auto Receivables Trust 2024-1                                              | CUSIP: 501689AG8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    100000 | PA      | $103012.87    | 0.07%             | 2031-06-16      | Fixed         | 6.15%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A               | Government National Mortgage Association                                       | CUSIP: 38382CDW8<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    117992 | PA      | $1352.22      | 0.00%             | 2050-01-20      | Floating      | 0.01%                 | No            |                  2 | On Loan: No      |
| CarMax Auto Owner Trust                      | Carmax Auto Owner Trust 2024-3                                                 | CUSIP: 14319GAG6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    485000 | PA      | $492780.32    | 0.31%             | 2030-03-15      | Fixed         | 5.28%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                   | Fannie Mae Pool                                                                | CUSIP: 3140W2QC8<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    856304 | PA      | $760560.90    | 0.48%             | 2052-07-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A               | Government National Mortgage Association                                       | CUSIP: 38384A3B7<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    701401 | PA      | $109749.55    | 0.07%             | 2050-09-20      | Floating      | 2.47%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A               | Government National Mortgage Association                                       | CUSIP: 38383GSL6<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    234875 | PA      | $198967.07    | 0.13%             | 2052-01-20      | Floating      | 2.50%                 | No            |                  2 | On Loan: No      |
| Great Lakes CLO Ltd                          | Great Lakes CLO 2019-1 Ltd                                                     | CUSIP: 390578AT9<br>LEI: 2549000VKJWRC8TSA617 | Long             | ABS-CBDO         | CORP              | KY        |    340000 | PA      | $341788.06    | 0.22%             | 2037-04-15      | Floating      | 5.38%                 | No            |                  2 | On Loan: No      |
| WAMU Mortgage Pass-Through Cer               | WaMu Mortgage Pass-Through Certificates Series 2004-AR12 Trust                 | CUSIP: 92922FZV3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     52028 | PA      | $51527.16     | 0.03%             | 2044-10-25      | Floating      | 5.03%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A               | Government National Mortgage Association                                       | CUSIP: 38381JBN6<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    180000 | PA      | $137524.45    | 0.09%             | 2065-04-16      | Variable      | 3.80%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A               | Government National Mortgage Association                                       | CUSIP: 38382CGQ8<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    384154 | PA      | $346531.39    | 0.22%             | 2050-01-20      | Floating      | 3.50%                 | No            |                  2 | On Loan: No      |
| Freddie Mac - STACR                          | Freddie Mac STACR REMIC Trust 2021-HQA4                                        | CUSIP: 35564KNS4<br>LEI: 5493000ISE4NWBTOSK36 | Long             | ABS-MBS          | CORP              | US        |    120000 | PA      | $121462.80    | 0.08%             | 2041-12-25      | Floating      | 6.53%                 | No            |                  2 | On Loan: No      |
| AGL CLO Ltd.                                 | AGL CLO 17 Ltd                                                                 | CUSIP: 00120DAL0<br>LEI: 254900ISUA07JPVCOS18 | Long             | ABS-CBDO         | CORP              | KY        |    400000 | PA      | $400060.40    | 0.25%             | 2035-01-21      | Floating      | 5.27%                 | No            |                  2 | On Loan: No      |
| LAD Auto Receivables Trust                   | LAD Auto Receivables Trust 2025-2                                              | CUSIP: 505912AH8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    380000 | PA      | $380158.73    | 0.24%             | 2032-12-15      | Fixed         | 5.01%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                   | Fannie Mae REMICS                                                              | CUSIP: 3136BFES8<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    925863 | PA      | $197874.45    | 0.13%             | 2051-03-25      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| GS Mortgage Securities Trust                 | GS Mortgage Securities Trust 2015-GC30                                         | CUSIP: 36250GAX3<br>LEI: 549300L45M7638EL0H21 | Long             | ABS-MBS          | CORP              | US        |   1075000 | PA      | $591250.00    | 0.38%             | 2050-05-10      | Fixed         | 3.38%                 | No            |                  2 | On Loan: No      |
| JPMDB Commercial Mortgage Secu               | JPMDB Commercial Mortgage Securities Trust 2017-C7                             | CUSIP: 46648KAC0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    100000 | PA      | $73066.14     | 0.05%             | 2050-10-15      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| BENCHMARK Mortgage Trust                     | Benchmark 2020-B16 Mortgage Trust                                              | CUSIP: 08161NAW7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    545000 | PA      | $408590.37    | 0.26%             | 2053-02-15      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| CIM Trust                                    | CIM Trust 2021-J2                                                              | CUSIP: 12564ECM2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1538794 | PA      | $18841.91     | 0.01%             | 2051-04-25      | Variable      | 0.21%                 | No            |                  2 | On Loan: No      |
| CSAIL Commercial Mortgage Trus               | CSAIL 2015-C1 Commercial Mortgage Trust                                        | CUSIP: 126281BF0<br>LEI: 549300UFJ8EKD81Y8R30 | Long             | ABS-MBS          | CORP              | US        |    293000 | PA      | $266052.79    | 0.17%             | 2050-04-15      | Variable      | 3.83%                 | No            |                  2 | On Loan: No      |
| Towd Point Mortgage Trust                    | Towd Point Mortgage Trust 2019-1                                               | CUSIP: 89177BAF2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    815000 | PA      | $637206.04    | 0.40%             | 2058-03-25      | Variable      | 3.79%                 | No            |                  2 | On Loan: No      |
| BX Trust 2019-OC11                           | BX Trust 2019-OC11                                                             | CUSIP: 05606FAL7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    500000 | PA      | $473463.10    | 0.30%             | 2041-12-09      | Variable      | 3.94%                 | No            |                  2 | On Loan: No      |
| Hilton Grand Vacations Trust                 | Hilton Grand Vacations Trust 2019-A                                            | CUSIP: 43284HAB5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     22437 | PA      | $22291.02     | 0.01%             | 2033-07-25      | Fixed         | 2.54%                 | No            |                  2 | On Loan: No      |
| Zayo Issuer LLC                              | Zayo Issuer LLC                                                                | CUSIP: 98919WAS2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    470000 | PA      | $480677.23    | 0.30%             | 2055-10-20      | Fixed         | 8.44%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                   | Fannie Mae Pool                                                                | CUSIP: 3140JGLW3<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     12101 | PA      | $11985.56     | 0.01%             | 2048-12-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Bank                                         | Bank 2019-BNK19                                                                | CUSIP: 06540WBG7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    715000 | PA      | $518806.29    | 0.33%             | 2061-08-15      | Variable      | 4.03%                 | No            |                  2 | On Loan: No      |
| NYT Mortgage Trust                           | BF 2019-NYT Mortgage Trust                                                     | CUSIP: 62954PAN0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    465000 | PA      | $424537.89    | 0.27%             | 2035-12-15      | Floating      | 6.83%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                   | Fannie Mae Pool                                                                | CUSIP: 3140XQAF4<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   5281483 | PA      | $4297724.21   | 2.73%             | 2052-10-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                   | Fannie Mae Pool                                                                | CUSIP: 3140XQDL8<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    537570 | PA      | $548634.46    | 0.35%             | 2054-06-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                  | Freddie Mac Pool                                                               | CUSIP: 3132DWHE6<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    521099 | PA      | $520679.25    | 0.33%             | 2053-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| DataBank Issuer II, LLC                      | DataBank Issuer II LLC                                                         | CUSIP: 23802YAA5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    340000 | PA      | $340450.55    | 0.22%             | 2055-09-27      | Fixed         | 5.18%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A               | Government National Mortgage Association                                       | CUSIP: 38384KHH7<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    787387 | PA      | $132389.68    | 0.08%             | 2051-07-20      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Multifamily Structured Credit                | Freddie Mac Mscr Trust Mn8                                                     | CUSIP: 35563RAB1<br>LEI: 529900XKEN78GROIG538 | Long             | ABS-MBS          | USGSE             | US        |    430000 | PA      | $449013.44    | 0.28%             | 2044-05-25      | Floating      | 8.43%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                   | Fannie Mae Pool                                                                | CUSIP: 31418EPC8<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   1429981 | PA      | $1429345.28   | 0.91%             | 2053-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A               | Government National Mortgage Association                                       | CUSIP: 38381YHP2<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    590140 | PA      | $538419.07    | 0.34%             | 2049-08-20      | Floating      | 3.50%                 | No            |                  2 | On Loan: No      |
| Residential Accredit Loans, In               | RALI Series 2005-QO3 Trust                                                     | CUSIP: 761118KU1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     90203 | PA      | $64286.66     | 0.04%             | 2045-10-25      | Floating      | 4.91%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                  | Freddie Mac REMICS                                                             | CUSIP: 3137HHAB7<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   2664252 | PA      | $112535.08    | 0.07%             | 2054-08-25      | Floating      | 1.17%                 | No            |                  2 | On Loan: No      |
| BX Trust                                     | BX Commercial Mortgage Trust 2022-CSMO                                         | CUSIP: 05610MAE2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    100000 | PA      | $101000.00    | 0.06%             | 2027-06-15      | Floating      | 8.37%                 | No            |                  2 | On Loan: No      |
| DREYFUS TRSY OBLIG CASH M                    | DREYFUS TRSY OBLIG CASH M                                                      | CUSIP: 000000000<br>LEI: N/A                  | Long             | STIV             | RF                | US        |   2226215 | NS      | $2226214.53   | 1.41%             |  |  |  | No            |                  2 | On Loan: No      |
| Structured Asset Investment Lo               | Structured Asset Investment Loan Trust 2004-8                                  | CUSIP: 86358ELQ7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     99786 | PA      | $97418.83     | 0.06%             | 2034-09-25      | Floating      | 4.91%                 | No            |                  2 | On Loan: No      |
| Exeter Automobile Receivables                | Exeter Automobile Receivables Trust 2022-5                                     | CUSIP: 30167FAG7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    535000 | PA      | $564172.59    | 0.36%             | 2030-04-15      | Fixed         | 10.45%                | No            |                  2 | On Loan: No      |
| UBS Commercial Mortgage Trust                | UBS Commercial Mortgage Trust 2018-C9                                          | CUSIP: 90291JBB2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    405000 | PA      | $279993.02    | 0.18%             | 2051-03-15      | Variable      | 4.94%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                  | Freddie Mac REMICS                                                             | CUSIP: 3137HAYG5<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     99335 | PA      | $83567.46     | 0.05%             | 2053-09-25      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                   | Fannie Mae REMICS                                                              | CUSIP: 3136BVKJ6<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    511381 | PA      | $39527.96     | 0.03%             | 2054-09-25      | Floating      | 2.92%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A               | Government National Mortgage Association                                       | CUSIP: 38383P8S3<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    132655 | PA      | $2982.76      | 0.00%             | 2052-04-20      | Floating      | 0.01%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A               | Government National Mortgage Association                                       | CUSIP: 38383MGZ5<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    491218 | PA      | $458723.00    | 0.29%             | 2051-07-20      | Floating      | 4.00%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A               | Government National Mortgage Association                                       | CUSIP: 38383CFR6<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   4629217 | PA      | $77030.64     | 0.05%             | 2051-10-20      | Floating      | 0.01%                 | No            |                  2 | On Loan: No      |
| BENCHMARK Mortgage Trust                     | Benchmark 2020-B17 Mortgage Trust                                              | CUSIP: 08162MBD9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    910000 | PA      | $707175.83    | 0.45%             | 2053-03-15      | Variable      | 3.37%                 | No            |                  2 | On Loan: No      |
| Freddiemac Strip                             | Freddie Mac Strips                                                             | CUSIP: 3128HVP78<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     32764 | PA      | $29367.03     | 0.02%             | 2036-07-15      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                   | Fannie Mae REMICS                                                              | CUSIP: 3136BBB43<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |      7757 | PA      | $6176.06      | 0.00%             | 2050-09-25      | Fixed         | 1.25%                 | No            |                  2 | On Loan: No      |
| CF Hippolyta Issuer LLC                      | CF Hippolyta Issuer LLC                                                        | CUSIP: 12530MAG0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    438238 | PA      | $337997.41    | 0.21%             | 2061-03-15      | Fixed         | 1.98%                 | No            |                  2 | On Loan: No      |
| BFLD Trust                                   | BFLD Commercial Mortgage Trust 2025-5MW                                        | CUSIP: 088921AD3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    575000 | PA      | $573956.22    | 0.36%             | 2042-10-10      | Variable      | 6.37%                 | No            |                  2 | On Loan: No      |
| BMO 2022-C1 Mortgage Trust                   | BMO 2022-C1 Mortgage Trust                                                     | CUSIP: 05609MCJ2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    550000 | PA      | $508236.19    | 0.32%             | 2055-02-17      | Variable      | 3.27%                 | No            |                  2 | On Loan: No      |
| Freddie Mac - SCRT                           | Seasoned Credit Risk Transfer Trust Series 2025-1                              | CUSIP: 35563PYZ6<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |   1421338 | PA      | $1236518.40   | 0.78%             | 2064-11-25      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| CarMax Select Receivables Trus               | Carmax Select Receivables Trust 2024-A                                         | CUSIP: 14319FAG8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    365000 | PA      | $376549.29    | 0.24%             | 2030-12-16      | Fixed         | 6.27%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A               | Government National Mortgage Association                                       | CUSIP: 38384BPQ8<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   2051982 | PA      | $95572.31     | 0.06%             | 2053-06-20      | Floating      | 1.07%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                  | Freddie Mac REMICS                                                             | CUSIP: 3137HAFC5<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    420735 | PA      | $290966.22    | 0.18%             | 2050-09-25      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A               | Government National Mortgage Association                                       | CUSIP: 38383GFG1<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   1059637 | PA      | $128093.08    | 0.08%             | 2051-11-20      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A               | Government National Mortgage Association                                       | CUSIP: 38383FAC7<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |  18562499 | PA      | $39736.74     | 0.03%             | 2051-12-20      | Floating      | 0.01%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A               | Government National Mortgage Association                                       | CUSIP: 38383U6A3<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    308262 | PA      | $43041.23     | 0.03%             | 2045-10-20      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A               | Government National Mortgage Association                                       | CUSIP: 38382NZZ3<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    185768 | PA      | $20808.08     | 0.01%             | 2051-02-20      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                  | Freddie Mac Pool                                                               | CUSIP: 3132DQXV3<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     37855 | PA      | $38655.37     | 0.02%             | 2053-07-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| UBS-Barclays Commercial Mortga               | UBS-Barclays Commercial Mortgage Trust 2013-C5                                 | CUSIP: 90270YAG4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    490061 | PA      | $475369.42    | 0.30%             | 2046-03-10      | Variable      | 3.65%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                  | Freddie Mac REMICS                                                             | CUSIP: 3137H3LQ3<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    955770 | PA      | $164947.99    | 0.10%             | 2051-11-25      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae - CAS                             | Connecticut Avenue Securities Trust 2022-R01                                   | CUSIP: 20754LAJ8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    300000 | PA      | $314048.85    | 0.20%             | 2041-12-25      | Floating      | 10.18%                | No            |                  2 | On Loan: No      |
| General Motors                               | GMF Floorplan Owner Revolving Trust                                            | CUSIP: 361886CW2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    100000 | PA      | $103180.41    | 0.07%             | 2030-06-15      | Fixed         | 5.34%                 | No            |                  2 | On Loan: No      |
| GS Mortgage Securities Trust                 | GS Mortgage Securities Trust 2018-GS10                                         | CUSIP: 36250SAM1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    500000 | PA      | $344488.15    | 0.22%             | 2051-07-10      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                  | Freddie Mac REMICS                                                             | CUSIP: 3137F6XW2<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     76437 | PA      | $63102.45     | 0.04%             | 2049-03-25      | Fixed         | 1.25%                 | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2025-12-22

**Name of Applicant:** New York Life Investments Active ETF Trust

**Signature:** Adefolahan Oyefeso

**Name of Signer:** Adefolahan Oyefeso

**Title:** Director and Vice President, IndexIQ