# EDGAR Filing Document

**Accession Number:** 0001032423
**File Stem:** 0001752724-25-212225
**Filing Date:** 2025-8
**Character Count:** 233317
**Document Hash:** f05eb88f1d678a601f209b52267ca375
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001752724-25-212225.hdr.sgml**: 20250829

**ACCESSION NUMBER**: 0001752724-25-212225

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20250630

**FILED AS OF DATE**: 20250829

**DATE AS OF CHANGE**: 20250829

**PERIOD START**: 20251231

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** DIAMOND HILL FUNDS
- **CENTRAL INDEX KEY:** 0001032423

**ORGANIZATION NAME:**
- **EIN:** 316547095
- **STATE OF INCORPORATION:** OH
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-08061
- **FILM NUMBER:** 251276743

**BUSINESS ADDRESS:**
- **STREET 1:** 325 JOHN H. MCCONNELL BOULEVARD
- **STREET 2:** SUITE 200
- **CITY:** COLUMBUS
- **STATE:** OH
- **ZIP:** 43215
- **BUSINESS PHONE:** 614-255-3333

**MAIL ADDRESS:**
- **STREET 1:** 325 JOHN H. MCCONNELL BOULEVARD
- **STREET 2:** SUITE 200
- **CITY:** COLUMBUS
- **STATE:** OH
- **ZIP:** 43215

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** BSG FUNDS
- **DATE OF NAME CHANGE:** 19970206

## Series and Classes Contracts Data

### Diamond Hill Short Duration Securitized Bond Fund (Series ID: S000055043)

| Class ID   | Class Name                                                 | Ticker Symbol   |
|:---|:---|:---|
| C000173083 | Diamond Hill Short Duration Securitized Bond Fund Investor | DHEAX           |
| C000173084 | Diamond Hill Short Duration Securitized Bond Fund Class I  | DHEIX           |
| C000173085 | Diamond Hill Short Duration Securitized Bond Fund Class Y  | DHEYX           |

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** Diamond Hill Funds

- **b. Investment Company Act file number:** 811-08061

- **c. CIK number of Registrant:** 0001032423

- **d. LEI of Registrant:** 549300PZZTQU6QTHS663

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

  - **Street Address 1:** 325 John H. McConnell Blvd.

  - **City:** Columbus

  - **State:** OH

  - **Foreign country:** US

  - **Zip / Postal Code:** 43215

  - **Telephone number:** 888-226-5595

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

- **a. Name of Series:** DIAMOND HILL SHORT DURATION SECURITIZED BOND

- **b. EDGAR series identifier (if any):** S000055043

- **c. LEI of Series:** 549300LDSRETB4JUMJ20

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

- **a. Date of fiscal year-end:** 2025-12-31

- **b. Date as of which information is reported:** 2025-06-30

**Item A.4. Final filing**

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

### Fund Information

**Total Assets:** $4173294189.19

**Total Liabilities:** $12607165.16

**Net Assets:** $4160687024.03

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** 7833.46101368 | **1-Year:** 74862.20617532 | **5-Year:** 147067.74709019 | **10-Year:** 34655.43265582 | **30-Year:** 6868.22249356

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

- **3-Month:** 155.03285590 | **1-Year:** 3691.80627715 | **5-Year:** 4511.24762429 | **10-Year:** 0.00000000 | **30-Year:** 0.00000000

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000173085 | 0.43%                | 0.51%                | 0.77%                |
| Class ID C000173083 | 0.29%                | 0.47%                | 0.74%                |
| Class ID C000173084 | 0.41%                | 0.40%                | 0.86%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $1350235.31              | $-4956748.30                               |
| Month 2  | $-4811219.31             | $4409912.35                                |
| Month 3  | $499195.99               | $12643121.59                               |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| UPGRADE RECEIVABLES TRUST 2024-1                              | Upgrade Receivables Trust Series 2024-1A, Class C                          | CUSIP: 91533NAC8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   8875000 | PA      | $8955792.68   | 0.22%             | 2031-01-15      | Fixed         | 6.47%                 | Yes           |                  2 | On Loan: No      |
| Home Partners Of America Trust 2019-1                         | Home Partners of America Trust Series 2019-1, Class A                      | CUSIP: 43731QAA6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   2098138 | PA      | $2013725.46   | 0.05%             | 2039-09-17      | Fixed         | 2.91%                 | Yes           |                  2 | On Loan: No      |
| Nyt Mortgage Trust                                            | NYT Mortgage Trust Series 2019-NYT, Class E                                | CUSIP: 62954PAN0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   4000000 | PA      | $3558055.60   | 0.09%             | 2035-12-15      | Floating      | 7.11%                 | Yes           |                  2 | On Loan: No      |
| Federal National Mortgage Association                         | Federal National Mortgage Association Series 2013-97, Class ZB             | CUSIP: 3136AGDJ8<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-O            | USGSE             | US        |   9818098 | PA      | $9618862.49   | 0.23%             | 2033-09-25      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| FMC GMSR ISSUER TRUST                                         | FMC GMSR Issuer Trust Series 2021-GT2                                      | CUSIP: 30259RAK1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |  14280000 | PA      | $13579588.85  | 0.33%             | 2026-10-25      | Fixed         | 3.85%                 | Yes           |                  2 | On Loan: No      |
| LHOME MTG TR 2024-RTL3                                        | LHOME Mortgage Trust Series 2024-RTL3, Class M                             | CUSIP: 50205GAC6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1750000 | PA      | $1758016.23   | 0.04%             | 2029-05-25      | Fixed         | 10.73%                | Yes           |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corp.                              | Federal Home Loan Mortgage Corporation Pool SC0118                         | CUSIP: 3132D9DX9<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGA              | US        |   1849235 | PA      | $1654568.91   | 0.04%             | 2041-01-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| OPORTUN ISSUANCE TRUST 2021-C                                 | Oportun Funding LLC Series 2021-C, Class A                                 | CUSIP: 68377WAA9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |  10067479 | PA      | $9834377.55   | 0.24%             | 2031-10-08      | Fixed         | 2.18%                 | Yes           |                  2 | On Loan: No      |
| FMC GMSR ISSUER TRUST                                         | FMC GMSR Issue Trust Series 2020-GT1, Class A                              | CUSIP: 30259RAE5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   8850000 | PA      | $8646659.75   | 0.21%             | 2026-01-25      | Fixed         | 4.45%                 | Yes           |                  2 | On Loan: No      |
| FIDELIS MTG TR 2025-RTL1                                      | Fidelis Mortgage Trust Series 25-RTL1 Class A1                             | CUSIP: 31575LAC7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |  26000000 | PA      | $26134927.00  | 0.63%             | 2040-02-27      | Variable      | 5.88%                 | Yes           |                  2 | On Loan: No      |
| AFFIRM ASSET SECURITIZATION TRUST 2                           | Affirm Incorporated Series 22-Z1 Class B                                   | CUSIP: 00833PAB3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1981446 | PA      | $1986663.64   | 0.05%             | 2027-06-15      | Fixed         | 6.49%                 | Yes           |                  2 | On Loan: No      |
| REACH ABS TRUST 2023-1                                        | Reach Financial LLC Series 2024-1A, Class C                                | CUSIP: 75526PAC5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   3450000 | PA      | $3558640.50   | 0.09%             | 2031-02-18      | Fixed         | 6.90%                 | Yes           |                  2 | On Loan: No      |
| PAGAYA AI DEBT TRUST 2025-R1                                  | Pagaya AI Debt Selection Trust Series 2025-R1, Class E                     | CUSIP: 69548DAA3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   3000000 | PA      | $3021228.00   | 0.07%             | 2032-06-15      | Fixed         | 12.11%                | Yes           |                  2 | On Loan: No      |
| REACH ABS TRUST 2025-1                                        | Reach Financial LLC Series 2025-1A, Class B                                | CUSIP: 75525PAB8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   5700000 | PA      | $5724817.80   | 0.14%             | 2032-08-16      | Fixed         | 5.34%                 | Yes           |                  2 | On Loan: No      |
| FMC GMSR ISSUER TRUST                                         | Freedom Mortgage Corporation Series 22-GT2 Class A                         | CUSIP: 30259RAP0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   4850000 | PA      | $4908247.53   | 0.12%             | 2027-07-25      | Fixed         | 7.90%                 | Yes           |                  2 | On Loan: No      |
| BREAN ASSET BACKED SECURITIES TRUST                           | Brean Asset Backed Securities Series 2023-RM7, Class A2                    | CUSIP: 10638BAB0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   2000000 | PA      | $1920653.00   | 0.05%             | 2078-03-25      | Fixed         | 4.50%                 | Yes           |                  2 | On Loan: No      |
| PAGAYA AI DEBT TRUST 2024-2                                   | Pagaya AI Debt Selection Trust Series 24-2 Class A                         | CUSIP: 694961AA1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   2106200 | PA      | $2122098.62   | 0.05%             | 2031-08-15      | Fixed         | 6.32%                 | Yes           |                  2 | On Loan: No      |
| PAGAYA AI DEBT GRANTOR TRUST 2025-1                           | Pagaya AI Debt Selection Trust Series 2025-1, Class D                      | CUSIP: 69544NAE7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |  11798993 | PA      | $11837174.05  | 0.28%             | 2032-07-15      | Fixed         | 6.28%                 | Yes           |                  2 | On Loan: No      |
| BX COMMERCIAL MORTGAGE TRUST 2024-B                           | BX Trust Series 2024-BIO2, Class D                                         | CUSIP: 05613GAG7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |  14750000 | PA      | $14638404.45  | 0.35%             | 2041-08-13      | Variable      | 7.97%                 | Yes           |                  2 | On Loan: No      |
| Federal National Mortgage Association                         | Federal National Mortgage Association Series 2014-45 Class IO              | CUSIP: 3136AKUA9<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-O            | USGSE             | US        |    355014 | PA      | $61247.84     | 0.00%             | 2044-08-25      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| COLEM 2022-HLNE MORTGAGE TRUST                                | COLEM Mortgage Trust Series 2022-HLNE, Class D                             | CUSIP: 12659JAJ6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   3360000 | PA      | $2658545.23   | 0.06%             | 2042-04-12      | Variable      | 2.46%                 | Yes           |                  2 | On Loan: No      |
| Federal National Mortgage Association                         | Federal National Mortgage Association Series 2010-44 Class CS              | CUSIP: 31398PWQ8<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-O            | USGSE             | US        |    240100 | PA      | $23431.51     | 0.00%             | 2040-05-25      | Floating      | 2.13%                 | No            |                  2 | On Loan: No      |
| Home Partners Of America Trust 2019-2                         | Home Partners of America Trust Series 2019-2, Class A                      | CUSIP: 43732TAA9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    510836 | PA      | $503661.41    | 0.01%             | 2039-10-19      | Fixed         | 2.70%                 | Yes           |                  2 | On Loan: No      |
| MARINER FINANCE ISSUANCE TRUST 2024-A                         | Mariner Finance Issuance Trust Series 2024-AA, Class C                     | CUSIP: 567928AC0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   3000000 | PA      | $3063218.70   | 0.07%             | 2036-09-22      | Fixed         | 6.00%                 | Yes           |                  2 | On Loan: No      |
| Fifth Third Bancorp                                           | Fifth Third Bancorp 1.707%, Due 11/01/2027                                 | CUSIP: 316773DD9<br>LEI: THRNG6BD57P9QWTQLG42 | Long             | DBT              | CORP              | US        |   1200000 | PA      | $1158645.28   | 0.03%             | 2027-11-01      | Fixed         | 1.71%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                      | Government National Mortgage Association Series 2023-154, Class VA         | CUSIP: 38384DDE4<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-O            | USGA              | US        |   8013782 | PA      | $8204478.89   | 0.20%             | 2034-08-20      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Tricon American Homes 2019-Sfr1                               | Tricon American Homes Series 2019-SFR1, Class A                            | CUSIP: 89612LAA4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1229046 | PA      | $1212559.75   | 0.03%             | 2038-03-17      | Fixed         | 3.75%                 | Yes           |                  2 | On Loan: No      |
| CASCADE MH ASSET TRUST                                        | Cascade Funding Mortgage Trust Series 2019-MH1 Class M                     | CUSIP: 14732FAC6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1100000 | PA      | $1055809.59   | 0.03%             | 2044-11-25      | Fixed         | 5.99%                 | Yes           |                  2 | On Loan: No      |
| LHOME MTG TR 2025-RTL1                                        | LHOME Mortgage Trust Series 2025-RTL1, Class A1                            | CUSIP: 50205UAA9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |  34000000 | PA      | $34103509.60  | 0.82%             | 2040-01-25      | Variable      | 5.65%                 | Yes           |                  2 | On Loan: No      |
| KAPITUS ASSET SECURITIZATION IV LLC                           | Kapitus Asset Securitization, LLC Series 2024-1A, Class C                  | CUSIP: 48555MAC3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2000000 | PA      | $1995521.60   | 0.05%             | 2031-09-10      | Fixed         | 7.15%                 | Yes           |                  2 | On Loan: No      |
| GINNIE MAE (H) 23-85                                          | Government National Mortgage Association Series 2023-81, Class QV          | CUSIP: 38384BBX8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   5905772 | PA      | $6033884.51   | 0.15%             | 2034-05-20      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| OCWEN LOAN INVESTMENT TRUST 2023-HB                           | Ocwen Loan Investment Trust Series 2023-HB1, Class M3                      | CUSIP: 67578KAD8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   9000000 | PA      | $8520948.00   | 0.20%             | 2036-06-25      | Variable      | 3.00%                 | Yes           |                  2 | On Loan: No      |
| RESEARCH-DRIVEN PAGAYA MOTOR ASSET TRUST 2025-1               | Research-Driven Pagaya Motor Asset Trust Series 2025-1A, Class C           | CUSIP: 76089YAC3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |  21975000 | PA      | $21952572.32  | 0.53%             | 2033-06-27      | Fixed         | 6.67%                 | Yes           |                  2 | On Loan: No      |
| United States Treasury Notes                                  | U.S. Treasury Notes 3.75%, Due 08/31/2026                                  | CUSIP: 91282CLH2<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  20000000 | PA      | $19952343.80  | 0.48%             | 2026-08-31      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| TRICOLOR AUTO SECURITIZATION TRUST                            | Tricolor Auto Securitization Trust Series 2024-2A, Class D                 | CUSIP: 89616PAD5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   6000000 | PA      | $6110151.60   | 0.15%             | 2028-08-15      | Fixed         | 7.61%                 | Yes           |                  2 | On Loan: No      |
| KeyBank National Association                                  | Key Bank NA 5.85%, Due 11/15/2027                                          | CUSIP: 49327M3F9<br>LEI: HUX2X73FUCYHUVH1BK78 | Long             | DBT              | CORP              | US        |   2000000 | PA      | $2064862.04   | 0.05%             | 2027-11-15      | Fixed         | 5.85%                 | No            |                  2 | On Loan: —       |
| HOMEWARD OPPORTUNITIES FUND TRUST 2024-RTL1                   | Homeward Opportunities Funding Trust Series 2024-RTL1, Class A1            | CUSIP: 43789FAA1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |  36000000 | PA      | $36171691.20  | 0.87%             | 2029-07-25      | Fixed         | 7.12%                 | Yes           |                  2 | On Loan: No      |
| ONITY LN INVT TR 2024-HB2                                     | Onity Loan Investment Trust Series 2024-HB2, Class M4                      | CUSIP: 68278DAE3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   3650000 | PA      | $3314750.06   | 0.08%             | 2037-08-25      | Variable      | 5.00%                 | Yes           |                  2 | On Loan: No      |
| UPSTRT STR PSTHRU TR 2022-4A                                  | Upstart Structured Pass-Through Trust Series 2022-4A, Class B              | CUSIP: 91680YBE0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   6323757 | PA      | $6363750.65   | 0.15%             | 2030-11-15      | None          | 8.54%                 | Yes           |                  2 | On Loan: No      |
| General Motors Financial Company  Inc                         | General Motors Financial Company 5.05%, Due 04/04/2028                     | CUSIP: 37045XFE1<br>LEI: 5493008B6JBRUJ90QL97 | Long             | DBT              | CORP              | US        |   2000000 | PA      | $2015162.70   | 0.05%             | 2028-04-04      | Fixed         | 5.05%                 | No            |                  2 | On Loan: No      |
| TRICOLOR AUTO SECURITIZATION TRUST                            | Tricolor Auto Securitization Trust Series 2024-3A, Class D                 | CUSIP: 89617AAD7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   2930000 | PA      | $2939057.22   | 0.07%             | 2029-04-16      | Fixed         | 6.34%                 | Yes           |                  2 | On Loan: No      |
| VISTA POINT STZ 2024-CES3                                     | Vista Point Securitization Trust Series 2024-CES3, Class A1                | CUSIP: 92841WAA7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |  10954412 | PA      | $10966996.17  | 0.26%             | 2055-01-25      | Variable      | 5.68%                 | Yes           |                  2 | On Loan: No      |
| ROC MORTGAGE TRUST                                            | ROC Securities Trust Series 2021-RLT1, Class A2                            | CUSIP: 77118TAB9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   7900000 | PA      | $7874885.90   | 0.19%             | 2026-08-25      | Fixed         | 3.35%                 | Yes           |                  2 | On Loan: No      |
| Bxmt 2020-Fl2 Ltd.                                            | BXMT Ltd. Series 2020-FL2, Class B                                         | CUSIP: 12434LAE4<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |   5250000 | PA      | $5178684.00   | 0.12%             | 2038-02-15      | Floating      | 6.09%                 | Yes           |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corp.                              | Federal Home Loan Mortgage Corporation Series 2979 Class FP                | CUSIP: 31395UML2<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-O            | USGSE             | US        |    207822 | PA      | $205725.71    | 0.00%             | 2035-05-15      | Floating      | 4.87%                 | No            |                  2 | On Loan: No      |
| ARBOR REALTY COMMERCIAL REAL ESTATE NOTES 2025-BTR1 LLC       | Arbor Realty Collateralized Loan Obligation Ltd. Series 2025-BTR1, Class C | CUSIP: 03881UAL5<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |   9500000 | PA      | $9476392.50   | 0.23%             | 2041-01-18      | Variable      | 8.01%                 | Yes           |                  2 | On Loan: No      |
| HIN TIMESHARE TRUST                                           | Holiday Inn Timeshare Trust Series 20-A Class E                            | CUSIP: 40439HAE9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1151552 | PA      | $1104814.01   | 0.03%             | 2039-10-09      | Fixed         | 6.50%                 | Yes           |                  2 | On Loan: No      |
| GINNIE MAE (H) 23-85                                          | Government National Mortgage Association Series 2023-81, Class MV          | CUSIP: 38384BBT7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   8632979 | PA      | $8833819.64   | 0.21%             | 2034-05-20      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| OPORTUN FDG TR 2025-1                                         | Oportun Funding LLC Series 2025-1, Class B                                 | CUSIP: 68377PAB2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   3122000 | PA      | $3128733.84   | 0.08%             | 2032-08-16      | Fixed         | 5.24%                 | Yes           |                  2 | On Loan: No      |
| State Street Institutional Investment Trust                   | State Street Institutional US Government Money Market Fund, Premier Class  | CUSIP: 857492706<br>LEI: 549300P1E098W6ES7M39 | Long             | STIV             | RF                | US        | 273518659 | PA      | $273518658.84 | 6.57%             |  |  |  | No            |                  1 | On Loan: No      |
| RMF PRPTR ISSN TR 2022-3                                      | RMF Proprietary Issuance Trust Series 2022-3, Class M3                     | CUSIP: 74970FAD9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   5800000 | PA      | $5056146.52   | 0.12%             | 2062-08-25      | Variable      | 4.00%                 | Yes           |                  2 | On Loan: No      |
| CHERRY SECURITIZATION TRUST 2025-1                            | Cherry Securitization Trust Series 2025-1A, Class A                        | CUSIP: 16473RAA2<br>LEI: 213800F9SQ753JQHSW24 | Long             | ABS-O            | CORP              | US        |  18200000 | PA      | $18384355.08  | 0.44%             | 2032-11-15      | Fixed         | 6.13%                 | Yes           |                  2 | On Loan: No      |
| Fremf 2012 Kf01 Mortgage Trust                                | Freedom Mortgage Trust Series 2018-KF45, Class B                           | CUSIP: 30296TAG1<br>LEI: N/A                  | Long             | ABS-O            | USGSE             | US        |   1125038 | PA      | $1128629.48   | 0.03%             | 2025-10-25      | Variable      | 6.40%                 | Yes           |                  2 | On Loan: No      |
| MF1 2022-FL10 LLC                                             | MF1 Multifamily Housing Mortgage Trust Series 2022-FL10, Class B           | CUSIP: 55285BAE5<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |   6000000 | PA      | $6001560.00   | 0.14%             | 2037-09-17      | Floating      | 8.05%                 | Yes           |                  2 | On Loan: No      |
| Energy Transfer LP                                            | Energy Transfer LP 6.05%, Due 12/01/2026                                   | CUSIP: 29273VAR1<br>LEI: MTLVN9N7JE8MIBIJ1H73 | Long             | DBT              | CORP              | US        |    500000 | PA      | $510529.82    | 0.01%             | 2026-12-01      | Fixed         | 6.05%                 | No            |                  2 | On Loan: —       |
| MULTIFAMILY CONNECTICUT AVENUE SECURITIES TRUST 2025-01       | Multifamily Connecticut Avenue Series 2025-1, Class M1                     | CUSIP: 62549CAA9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |  18348752 | PA      | $18357095.31  | 0.44%             | 2055-05-25      | Floating      | 6.71%                 | Yes           |                  2 | On Loan: No      |
| JPMorgan Chase & Co.                                          | JPMorgan Chase & Co Sr 3.25%, Due 09/22/2027                               | CUSIP: 46647PCP9<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | DBT              | CORP              | US        |   3800000 | PA      | $3666176.96   | 0.09%             | 2027-09-22      | Fixed         | 1.47%                 | No            |                  2 | On Loan: No      |
| HOMEWARD OPPORTUNITIES FD TR 2024-                            | Homeward Opportunities Funding Trust Series 2024-RRTL2, Class A1           | CUSIP: 43789GAA9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |  24000000 | PA      | $24053229.60  | 0.58%             | 2039-09-25      | Variable      | 5.99%                 | Yes           |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corp.                              | Federal Home Loan Mortgage Corporation Series 2025-MN10, Class M2          | CUSIP: 35563UAB4<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-O            | USGA              | US        |   7250000 | PA      | $7177579.03   | 0.17%             | 2045-02-25      | Floating      | 7.16%                 | Yes           |                  2 | On Loan: No      |
| Rentas Fdo Inv Inm                                            | Renew Financial, LLC Series 2017-1A Class B                                | CUSIP: 75973LAB4<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |     90670 | PA      | $89878.66     | 0.00%             | 2052-09-20      | Fixed         | 5.75%                 | Yes           |                  2 | On Loan: No      |
| MF1 2022-FL10 LLC                                             | MF1 Multifamily Housing Series 2022-FL10, Class D                          | CUSIP: 55285BAJ4<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |   1250000 | PA      | $1251346.25   | 0.03%             | 2037-09-17      | Floating      | 10.05%                | Yes           |                  2 | On Loan: No      |
| PROGRESS RESIDENTIAL 2024-SFR4 TRUS                           | Progress Residential Trust Series 2024-SFR4, Class E1                      | CUSIP: 74334JAJ9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |  12500000 | PA      | $11320522.50  | 0.27%             | 2029-07-09      | Fixed         | 3.40%                 | Yes           |                  2 | On Loan: No      |
| BX COMMERCIAL MORTGAGE TRUST 2024-AIRC                        | BX Trust Series 2024-AIRC, Class B                                         | CUSIP: 12433CAC9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   6212605 | PA      | $6224253.58   | 0.15%             | 2039-08-15      | Floating      | 6.45%                 | Yes           |                  2 | On Loan: No      |
| AMCR ABS TRUST 2024-A                                         | AMCR ABS Trust Series 2024-A Class C                                       | CUSIP: 00178EAC9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   6000000 | PA      | $6032055.00   | 0.14%             | 2031-08-18      | Fixed         | 11.25%                | Yes           |                  2 | On Loan: No      |
| ACHV ABS TRUST 2024-3AL                                       | ACHV ABS Trust Series 2024-3AL, Class D                                    | CUSIP: 00092KAD6<br>LEI: 549300V82ZKZDTAU0A46 | Long             | ABS-O            | CORP              | US        |   5600000 | PA      | $5635054.32   | 0.14%             | 2031-12-26      | Fixed         | 6.75%                 | Yes           |                  2 | On Loan: No      |
| UPSTART PASS-THRU 2021-ST                                     | Upstart Pass Through Trust Series 21-ST4 Class A                           | CUSIP: 91534HAA4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    573626 | PA      | $569911.24    | 0.01%             | 2027-07-20      | Fixed         | 2.00%                 | Yes           |                  2 | On Loan: No      |
| Government National Mortgage Association                      | Government National Mortgage Association Series 2023-133, Class GV         | CUSIP: 38384EPF6<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-O            | USGA              | US        |   3511878 | PA      | $3611281.84   | 0.09%             | 2034-07-20      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                         | Federal National Mortgage Association Series 2012-148 Class IA             | CUSIP: 3136ABNP4<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-O            | USGSE             | US        |    388840 | PA      | $7104.57      | 0.00%             | 2028-01-25      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| ALPHAFLOW TRANSITIONAL MORTGAGE TRU                           | AlphaFlow Transitional Mortgage Company Series 2021-WL1, Class A2          | CUSIP: 02079YAB3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1825743 | PA      | $69768.20     | 0.00%             | 2026-01-25      | Variable      | 7.61%                 | Yes           |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corp.                              | MultiFamily Structured Credit Series 22-MN4, Class M1                      | CUSIP: 35563HAA5<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-O            | USGA              | US        |   8607666 | PA      | $8753792.80   | 0.21%             | 2052-05-25      | Floating      | 8.56%                 | Yes           |                  2 | On Loan: No      |
| Government National Mortgage Association                      | Government National Mortgage Association Pool G2 DJ1126                    | CUSIP: 3618KMHB4<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |  28478063 | PA      | $29215734.62  | 0.70%             | 2065-04-20      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| A10 BRIDGE ASSET FINANCING 2021-D L                           | A10 Securitization Series 2021-D, Class D                                  | CUSIP: 04681EAL1<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |   7546818 | PA      | $7228281.75   | 0.17%             | 2038-10-01      | Fixed         | 4.41%                 | Yes           |                  2 | On Loan: No      |
| PROGRESS RESIDENTIAL 2024-SFR2 TRUS                           | Progress Residential Trust Series 2024-SFR2, Class E1                      | CUSIP: 74290XAJ0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   2500000 | PA      | $2303676.75   | 0.06%             | 2041-04-17      | Fixed         | 3.40%                 | Yes           |                  2 | On Loan: No      |
| RMF PROPRIETORY ISSUANCE TRUST                                | RMF Proprietary Issuance Trust Series 2021-2, Class M2                     | CUSIP: 74969VAC9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   2706702 | PA      | $2320626.82   | 0.06%             | 2061-09-25      | Fixed         | 2.12%                 | Yes           |                  2 | On Loan: No      |
| MERCHANTS FLEET FUNDING LLC                                   | Merchants Fleet Funding LLC Series 2023-1A, Class D                        | CUSIP: 588926AD7<br>LEI: 254900Z2OOQUA5IN2X83 | Long             | ABS-O            | CORP              | US        |   5700000 | PA      | $5796392.70   | 0.14%             | 2036-05-20      | Fixed         | 8.20%                 | Yes           |                  2 | On Loan: No      |
| Hyundai Capital America                                       | Hyundai Capital America 6.25%, Due 11/03/2025                              | CUSIP: 44891ACQ8<br>LEI: 549300RIPPWJB5Z0FK07 | Long             | DBT              | CORP              | US        |    900000 | PA      | $903527.82    | 0.02%             | 2025-11-03      | Fixed         | 6.25%                 | Yes           |                  2 | On Loan: No      |
| BXMT LTD                                                      | BXMT Series 21-FL4 Class A                                                 | CUSIP: 05609GAA6<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |  27524056 | PA      | $27395793.71  | 0.66%             | 2038-05-17      | Floating      | 5.49%                 | Yes           |                  2 | On Loan: No      |
| RMF PROPRIETARY ISSUANCE TRUST 2022                           | RMF Proprietary Issuance Trust Series 2022-2, Class M1                     | CUSIP: 74970CAB0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   3400000 | PA      | $3101474.56   | 0.07%             | 2062-06-25      | Variable      | 3.75%                 | Yes           |                  2 | On Loan: No      |
| BREAN ASSET BACKED SECS TR 24-RM8                             | Brean Asset Backed Securities Series 2024-RM8, Class M1                    | CUSIP: 10637YAD7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1573813 | PA      | $1426423.26   | 0.03%             | 2064-05-25      | Fixed         | 4.50%                 | Yes           |                  2 | On Loan: No      |
| Citigroup Mortgage Loan Trust Inc.                            | Citigroup Mortgage Loan Trust, Inc. Series 2004-UST1 Class A3              | CUSIP: 17307GLA4<br>LEI: 549300R1KUK063S4I339 | Long             | ABS-O            | CORP              | US        |      3246 | PA      | $3174.98      | 0.00%             | 2034-08-25      | Variable      | 6.91%                 | No            |                  2 | On Loan: No      |
| LIFE FINANCIAL SERVICES TRUST                                 | Life Financial Services Trust Series 2021-BMR, Class G                     | CUSIP: 53218CAN0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |  10990000 | PA      | $10803193.08  | 0.26%             | 2038-03-15      | Floating      | 7.38%                 | Yes           |                  2 | On Loan: No      |
| A10 BRIDGE ASSET FINANCING 2021-D L                           | A10 Securitization Series 2021-D, Class E                                  | CUSIP: 04681EAN7<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |   3575985 | PA      | $3395701.49   | 0.08%             | 2038-10-01      | Fixed         | 4.94%                 | Yes           |                  2 | On Loan: No      |
| Government National Mortgage Association                      | Government National Mortgage Association Series 2015-16 Class IL           | CUSIP: 38379JUK5<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-O            | USGA              | US        |     91731 | PA      | $598.93       | 0.00%             | 2042-03-20      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| DIAMOND RESORTS OWNER TRUST                                   | Diamond Resorts Owner Trust Series 2021-1A, Class D                        | CUSIP: 25273CAD2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    156250 | PA      | $155277.34    | 0.00%             | 2033-11-21      | Fixed         | 3.83%                 | Yes           |                  2 | On Loan: No      |
| MF1 2024-FL15 LLC                                             | MF1 Multifamily Housing Mortgage Loan Trust Series 2024-FL15, Class D      | CUSIP: 58003MAJ5<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |   6500000 | PA      | $6497868.00   | 0.16%             | 2041-08-18      | Variable      | 8.35%                 | Yes           |                  2 | On Loan: No      |
| CONTINENTAL FIN CRC MT TR 20-A                                | Continental Credit Card LLC Series 2021-A, Class D                         | CUSIP: 66981PAG3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |  16210000 | PA      | $15955010.22  | 0.38%             | 2029-12-17      | Fixed         | 6.01%                 | Yes           |                  2 | On Loan: No      |
| United States Treasury Notes                                  | U.S. Treasury Notes 4.5%, Due 5/15/2027                                    | CUSIP: 91282CKR1<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  20000000 | PA      | $20263281.20  | 0.49%             | 2027-05-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: —       |
| HTAP 2024-2                                                   | HTAP Trust Series 2024-2, Class A                                          | CUSIP: 40444WAA7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |  42103671 | PA      | $41740143.51  | 1.00%             | 2042-04-25      | Fixed         | 6.50%                 | Yes           |                  2 | On Loan: No      |
| ARBOR REALTY COMMERCIAL REAL ESTATE NOTES 2025-BTR1 LLC       | Arbor Realty Collateralized Loan Obligation Ltd. Series 2025-BTR1, Class B | CUSIP: 03881UAJ0<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |   6500000 | PA      | $6483672.00   | 0.16%             | 2041-01-18      | Variable      | 7.51%                 | Yes           |                  2 | On Loan: No      |
| SPS SERVICER ADVANCE RECEIVABLES TRUST II                     | SPS Servicer Advance Receivables Trust Series 2020-T2, Class C             | CUSIP: 78472JAG8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1000000 | PA      | $985231.70    | 0.02%             | 2055-11-15      | Fixed         | 2.42%                 | Yes           |                  2 | On Loan: No      |
| ASCENT CAREER FUNDING TRUST 2024-1                            | Ascent Career Funding Trust Series 2024-1A, Class A                        | CUSIP: 04363LAA4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   3426260 | PA      | $3432586.05   | 0.08%             | 2032-10-25      | Fixed         | 6.77%                 | Yes           |                  2 | On Loan: No      |
| MISSION LANE CREDIT CARD MASTER TRU                           | Mission Lane Credit Card Master Trust Series 2024-B, Class E               | CUSIP: 60510MBJ6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   5910000 | PA      | $5948672.68   | 0.14%             | 2030-01-15      | None          | 12.19%                | Yes           |                  2 | On Loan: No      |
| CONTINENTAL FIN CRC MT TR 20-A                                | Continental Finance Credit Card LLC Series 2024-A, Class E                 | CUSIP: 66981PAU2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |  19728000 | PA      | $19946740.12  | 0.48%             | 2032-12-15      | Fixed         | 12.76%                | Yes           |                  2 | On Loan: No      |
| PAGAYA AI DEBT TRUST 2024-2                                   | Pagaya AI Debt Selection Trust Series 24-2 Class B                         | CUSIP: 694961AB9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   7202598 | PA      | $7267893.77   | 0.17%             | 2031-08-15      | Fixed         | 6.61%                 | Yes           |                  2 | On Loan: No      |
| Pfizer Investment Enterprises Pte Ltd.                        | Pfizer Incorporated 4.45%, Due 05/19/2026                                  | CUSIP: 716973AB8<br>LEI: 5493000FQO8XF9C0RT95 | Long             | DBT              | CORP              | US        |    900000 | PA      | $900985.65    | 0.02%             | 2026-05-19      | Fixed         | 4.45%                 | No            |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corp.                              | Federal Home Loan Mortgage Corporation Series 2025-MN10, Class B1          | CUSIP: 35563UAC2<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-O            | USGA              | US        |   4010000 | PA      | $3989946.79   | 0.10%             | 2045-02-25      | Floating      | 9.26%                 | Yes           |                  2 | On Loan: No      |
| Finance Of America Hecm Buyout 2024-HB1                       | Finance of America HECM Buyout Series 2024-HB1, Class M5                   | CUSIP: 31737DAG1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   8000000 | PA      | $6009144.00   | 0.14%             | 2034-10-01      | Fixed         | 6.00%                 | Yes           |                  2 | On Loan: No      |
| PAGAYA AI DEBT SELECTION TRUST                                | Pagaya AI Debt Selection Trust Series 2025-3, Class E                      | CUSIP: 69547GAA7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   7500000 | PA      | $7672670.25   | 0.18%             | 2032-12-15      | Fixed         | 12.63%                | Yes           |                  2 | On Loan: No      |
| Commonbond Student Loan Trust 2018-B-GS                       | Commonbond Student Loan Trust Series 2017-BGS Class C                      | CUSIP: 20268KAD2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    227751 | PA      | $196308.87    | 0.00%             | 2042-09-25      | Variable      | 4.44%                 | Yes           |                  2 | On Loan: No      |
| Ford Motor Credit Company LLC                                 | Ford Motor Credit Company 5.85%, Due 05/17/2027                            | CUSIP: 345397E74<br>LEI: UDSQCVRUX5BONN0VY111 | Long             | DBT              | CORP              | US        |   5000000 | PA      | $5038051.85   | 0.12%             | 2027-05-17      | Fixed         | 5.85%                 | No            |                  2 | On Loan: No      |
| MARINER FINANCE ISSUANCE TRUST 2024-A                         | Mariner Finance Issuance Trust Series 2024-AA, Class B                     | CUSIP: 567928AB2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   4000000 | PA      | $4077381.20   | 0.10%             | 2036-09-22      | Fixed         | 5.68%                 | Yes           |                  2 | On Loan: No      |
| OPORTUN ISSUANCE TRUST 2024-1                                 | Oportun Funding LLC Series 2024-1A, Class C                                | CUSIP: 68377JAE0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1000000 | PA      | $1007225.90   | 0.02%             | 2031-04-08      | Fixed         | 7.42%                 | Yes           |                  2 | On Loan: No      |
| RMF PROP ISS TR 2022-1                                        | RMF Proprietary Issuance Trust Series 2022-1, Class M2                     | CUSIP: 74969XAC5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   4000000 | PA      | $3478879.60   | 0.08%             | 2062-01-25      | Variable      | 3.00%                 | Yes           |                  2 | On Loan: No      |
| ROC MORTGAGE TRUST 2025-RTL1                                  | ROC Securities Trust Series 2025-RTL1, Class M2                            | CUSIP: 77119RAD8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   9800000 | PA      | $9713284.70   | 0.23%             | 2040-02-25      | Variable      | 8.54%                 | Yes           |                  2 | On Loan: No      |
| RESEARCH-DRIVEN PAGAYA MOTOR ASSET TRUST 2025-1               | Research-Driven Pagaya Motor Asset Trust Series 2025-1A, Class A           | CUSIP: 76089YAA7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |  52508305 | PA      | $52414000.50  | 1.26%             | 2033-06-27      | Fixed         | 5.42%                 | Yes           |                  2 | On Loan: No      |
| CFMT 2024-HB15 LLC                                            | Cascade Funding Mortgage Trust Series 2024-HB15, Class M2                  | CUSIP: 15723AAC5<br>LEI: 98450050957GF5E1CD92 | Long             | ABS-O            | CORP              | US        |   3250000 | PA      | $3117614.50   | 0.07%             | 2034-08-25      | Variable      | 4.00%                 | Yes           |                  2 | On Loan: No      |
| COLT 2025-6 MORTGAGE LOAN TRUST                               | COLT Funding, LLC Series 2025-6, Class A1                                  | CUSIP: 19689BAA1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |  29700000 | PA      | $29789628.66  | 0.72%             | 2070-08-25      | Variable      | 5.53%                 | Yes           |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corp.                              | Federal Home Loan Mortgage Corporation Pool 841354                         | CUSIP: 31288QQF0<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   3221630 | PA      | $3292214.44   | 0.08%             | 2048-11-01      | Variable      | 3.48%                 | No            |                  2 | On Loan: No      |
| TRICON RESIDENTAL TR 2025-SFR1                                | Tricon Residential Series 2025-SFR1, Class D                               | CUSIP: 895974AD5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   4000000 | PA      | $4003272.00   | 0.10%             | 2030-03-17      | Floating      | 6.33%                 | Yes           |                  2 | On Loan: No      |
| STELLAR JAY US LLC 2021-1                                     | Stellar Jay Ireland Dac Series 2021-1, Class A                             | CUSIP: 858558AA7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   8142986 | PA      | $7982680.92   | 0.19%             | 2041-10-15      | Fixed         | 3.97%                 | Yes           |                  2 | On Loan: No      |
| Principal Life Global Funding II                              | Principal Life Global Funding II 4.60%, Due 08/19/2027                     | CUSIP: 74256LFA2<br>LEI: 635400WSLKBQWSOIIT41 | Long             | DBT              | CORP              | US        |    500000 | PA      | $502736.91    | 0.01%             | 2027-08-19      | Fixed         | 4.60%                 | Yes           |                  2 | On Loan: No      |
| GENESIS SLS FIN MSTR TR 2019-A                                | Genesis Sales Finance Master Trust Series 2024-B, Class C                  | CUSIP: 37186XAZ8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |  23333000 | PA      | $23483290.19  | 0.56%             | 2032-12-20      | Fixed         | 6.61%                 | Yes           |                  2 | On Loan: No      |
| WELLS FARGO COMMERCIAL MORTGAGE TRUST                         | Wells Fargo Mortgage Trust Series 21-SAVE Class C                          | CUSIP: 95003LAJ9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   3040000 | PA      | $3038311.88   | 0.07%             | 2040-02-15      | Floating      | 6.33%                 | Yes           |                  2 | On Loan: No      |
| NEWTEK SML BUS LN TR 2022-1                                   | Newtek Small Business Loan Trust Series 2022-1, Class B                    | CUSIP: 65254BAB7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1621103 | PA      | $1604408.77   | 0.04%             | 2049-10-25      | Variable      | 7.75%                 | Yes           |                  2 | On Loan: No      |
| ONDECK ASSET SECURITIZATION IV LLC                            | Ondeck Asset Securitization Trust Series 2024-2A, Class B                  | CUSIP: 67108SAE8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   6500000 | PA      | $6462438.45   | 0.16%             | 2031-10-17      | Fixed         | 5.42%                 | Yes           |                  2 | On Loan: No      |
| ANCHOR MORTGAGE TRUST 2025-RTL1                               | Anchor Mortgage Trust Series 2025-RTL1, Class A1                           | CUSIP: 03290CAA4<br>LEI: 254900S7O2LYCU17JI96 | Long             | ABS-O            | CORP              | US        |   9400000 | PA      | $9399811.06   | 0.23%             | 2040-05-25      | Variable      | 5.72%                 | Yes           |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corp.                              | Federal Home Loan Mortgage Corporation Pool QH5181                         | CUSIP: 3133CHXJ9<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGA              | US        |  10189430 | PA      | $10384212.78  | 0.25%             | 2053-11-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| NALP BUSINESS LOAN TRUST 2024-1                               | Newtek Alternative Loan Program Series 2024-1, Class B                     | CUSIP: 629863AB7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   4677756 | PA      | $4733550.80   | 0.11%             | 2049-12-27      | Fixed         | 7.71%                 | Yes           |                  2 | On Loan: No      |
| Laurel Road Prime Student Ln Trust 2019-A                     | Laurel Road Prime Student Loan Series 2019-A Class BFX                     | CUSIP: 51889RAC3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   2646909 | PA      | $2581060.13   | 0.06%             | 2048-10-25      | Fixed         | 3.00%                 | Yes           |                  2 | On Loan: No      |
| SALUDA GRADE ALTERNATIVE MORTGAGE TRUST 2025-NPL2             | Saluda Grade Alternative Mortgage Trust Series 2025-NPL2, Class A1         | CUSIP: 79589BAA6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |  21341157 | PA      | $21405244.25  | 0.51%             | 2030-05-25      | Variable      | 7.77%                 | Yes           |                  2 | On Loan: No      |
| GENESIS SLS FIN MSTR TR 2019-A                                | Genesis Sales Finance Master Trust Series 2024-B, Class E                  | CUSIP: 37186XBB0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |  20000000 | PA      | $20101230.00  | 0.48%             | 2032-12-20      | Fixed         | 9.80%                 | Yes           |                  2 | On Loan: No      |
| REACH ABS TR 2024-2                                           | Reach Financial LLC Series 2024-2A, Class C                                | CUSIP: 75525HAC4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   3000000 | PA      | $3066040.80   | 0.07%             | 2031-07-15      | Fixed         | 6.13%                 | Yes           |                  2 | On Loan: No      |
| BX TRUST 2025-VLT6                                            | BX Trust Series 2025-VLT6, Class D                                         | CUSIP: 12433KAG2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |  34850000 | PA      | $34762875.00  | 0.84%             | 2030-03-15      | Floating      | 6.90%                 | Yes           |                  2 | On Loan: No      |
| REDWOOD FUNDING TRUST 2025-2                                  | Redwood Funding Trust Series 2025-2, Class A                               | CUSIP: 75806EAA5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   3313748 | PA      | $3310776.01   | 0.08%             | 2055-05-27      | Fixed         | 7.11%                 | Yes           |                  2 | On Loan: No      |
| REACH ABS TRUST 2022-2                                        | Reach Financial LLC Series 2022-2A, Class C                                | CUSIP: 75526GAC5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    515783 | PA      | $516439.96    | 0.01%             | 2030-05-15      | Fixed         | 8.40%                 | Yes           |                  2 | On Loan: No      |
| College Avenue Student Loans 2018-A LLC                       | College Avenue Student Loans Series 2018-A Class C                         | CUSIP: 19423DAD2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    318358 | PA      | $311500.84    | 0.01%             | 2047-12-26      | Fixed         | 5.50%                 | Yes           |                  2 | On Loan: No      |
| Government National Mortgage Association                      | Government National Mortgage Association Pool 788003                       | CUSIP: 3622ADX86<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |  18000000 | PA      | $18575762.22  | 0.45%             | 2055-06-20      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| United States Treasury Notes                                  | U.S. Treasury Notes 3.125%, Due 08/15/2025                                 | CUSIP: 91282CFE6<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  15000000 | PA      | $14974398.00  | 0.36%             | 2025-08-15      | Fixed         | 3.12%                 | No            |                  2 | On Loan: No      |
| AGORACAPITAL AUTO SECURITIES TR 2025-1                        | AgoraCapital Auto Securities Trust Series 2025-1A, Class B                 | CUSIP: 008483AB5<br>LEI: 5493004UROJFQSP6RC85 | Long             | ABS-O            | CORP              | US        |   5950000 | PA      | $5983355.70   | 0.14%             | 2032-11-25      | Fixed         | 7.27%                 | Yes           |                  2 | On Loan: No      |
| PROGRESS RES TR 2021-SFR5                                     | Progress Residential Trust Series 2021-SFR5, Class A                       | CUSIP: 74333FAA7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    433837 | PA      | $422473.88    | 0.01%             | 2038-07-17      | Fixed         | 1.43%                 | Yes           |                  2 | On Loan: No      |
| Citibank, N.A.                                                | Citibank NA 4.876%, Due 11/19/2027                                         | CUSIP: 17325FBL1<br>LEI: E57ODZWZ7FF32TWEFA76 | Long             | DBT              | CORP              | US        |   1750000 | PA      | $1760645.30   | 0.04%             | 2027-11-19      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| PAGAYA AI DEBT TRUST 2024-3                                   | Pagaya AI Debt Selection Trust Series 2024-3, Class C                      | CUSIP: 69547XAC6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   5207501 | PA      | $5266985.59   | 0.13%             | 2031-10-15      | Fixed         | 7.30%                 | Yes           |                  2 | On Loan: No      |
| Affirm Asset Securitization Trust 2025-X1                     | Affirm Incorporated Series 2025-X1, Class D                                | CUSIP: 00834MAD5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |  10000000 | PA      | $10011755.00  | 0.24%             | 2030-04-15      | Fixed         | 6.11%                 | Yes           |                  2 | On Loan: No      |
| United States Treasury Notes                                  | U.S. Treasury Notes 4.375%, Due 12/15/2026                                 | CUSIP: 91282CJP7<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  15000000 | PA      | $15111914.10  | 0.36%             | 2026-12-15      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| KAPITUS ASSET SECURITIZATION IV LLC                           | Kapitus Asset Securitization LLC Series 2024-1A, Class 2A                  | CUSIP: 48555MAF6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   4800000 | PA      | $4783090.56   | 0.11%             | 2031-09-10      | Fixed         | 5.69%                 | Yes           |                  2 | On Loan: No      |
| PAGAYA AI DEBT GRANTOR TRUST 2025-4                           | Pagaya AI Debt Selection Trust Series 2025-4, Class C                      | CUSIP: 69547DAD8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |  13000000 | PA      | $13096746.00  | 0.31%             | 2033-01-17      | Fixed         | 6.15%                 | Yes           |                  2 | On Loan: No      |
| Fremf 2012 Kf01 Mortgage Trust                                | Freedom Mortgage Trust Series 19-KF59 Class B                              | CUSIP: 30297XAG1<br>LEI: N/A                  | Long             | ABS-O            | USGSE             | US        |   2045713 | PA      | $1957255.57   | 0.05%             | 2029-02-25      | Variable      | 6.78%                 | Yes           |                  2 | On Loan: No      |
| United Airlines Pass Through Trust 2020-1A                    | United Airlines 5.875%, Due 10/15/2027                                     | CUSIP: 90931GAA7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    476995 | PA      | $486725.08    | 0.01%             | 2029-04-15      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| N/A                                                           | State Street Navigator Securities Lending Portfolio I                      | CUSIP: N/A<br>LEI: N/A                        | Long             | STIV             | RF                | US        |   9138975 | PA      | $9138975.00   | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| Federal Home Loan Mortgage Corp.                              | Federal Home Loan Mortgage Corporation Series 237 Class S14                | CUSIP: 31282YEU9<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    332189 | PA      | $36953.93     | 0.00%             | 2036-05-15      | Floating      | 2.15%                 | No            |                  2 | On Loan: No      |
| ACHM TRUST 2025-HE1                                           | Achieve Mortgage Series 2025-HE1, Class A                                  | CUSIP: 00449SAA5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |  13636393 | PA      | $13776977.83  | 0.33%             | 2055-03-25      | Variable      | 5.92%                 | Yes           |                  2 | On Loan: No      |
| PFP 2024-11 LTD /LLC                                          | PFP III Series 2024-11, Class D                                            | CUSIP: 69291WAJ1<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |   6000000 | PA      | $5965194.00   | 0.14%             | 2039-09-17      | Floating      | 8.43%                 | Yes           |                  2 | On Loan: No      |
| KAPITUS ASSET SECURITIZATION IV LLC                           | Kapitus Asset Securitization, LLC Series 2024-1A, Class A                  | CUSIP: 48555MAA7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  10000000 | PA      | $9988670.00   | 0.24%             | 2031-09-10      | Fixed         | 5.49%                 | Yes           |                  2 | On Loan: No      |
| Government National Mortgage Association                      | Government National Mortgage Association Pool G2 CW0334                    | CUSIP: 3618F8LP5<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   1704182 | PA      | $1748355.11   | 0.04%             | 2063-07-20      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| WELLS FARGO COMMERCIAL MORTGAGE TRUST                         | Wells Fargo Mortgage Trust Series 21-SAVE Class A                          | CUSIP: 95003LAA8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   2202248 | PA      | $2201011.60   | 0.05%             | 2040-02-15      | Floating      | 5.68%                 | Yes           |                  2 | On Loan: No      |
| HOMEWARD OPPORTUNITIES FD TR 2024-                            | Homeward Opportunities Fund Series 24-RRTL2 Class A2                       | CUSIP: 43789GAD3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   7000000 | PA      | $7010074.40   | 0.17%             | 2039-09-25      | Variable      | 6.37%                 | Yes           |                  2 | On Loan: No      |
| RGA Global Funding                                            | RGA Global Funding 2.0%, Due 11/30/2026                                    | CUSIP: 76209PAA1<br>LEI: 549300Y22K5FOEBMSK42 | Long             | DBT              | CORP              | US        |    800000 | PA      | $774009.28    | 0.02%             | 2026-11-30      | Fixed         | 2.00%                 | Yes           |                  2 | On Loan: No      |
| CHERRY SECURITIZATION TRUST 2024-1                            | Cherry Securitization Trust Series 2024-1A, Class D                        | CUSIP: 164737AD0<br>LEI: 213800F9SQ753JQHSW24 | Long             | ABS-O            | CORP              | US        |  11390000 | PA      | $11574678.60  | 0.28%             | 2032-04-15      | Fixed         | 12.28%                | Yes           |                  2 | On Loan: No      |
| JPMorgan Chase Bank, National Association                     | J.P. Morgan Wealth Management Series 2021-CL1, Class M1                    | CUSIP: 46591HBK5<br>LEI: 7H6GLXDRUGQFU57RNE97 | Long             | ABS-O            | CORP              | US        |   3689945 | PA      | $3682705.56   | 0.09%             | 2051-03-25      | Floating      | 5.61%                 | Yes           |                  2 | On Loan: No      |
| ROC MORTGAGE TRUST 2025-RTL1                                  | ROC Securities Trust Series 2025-RTL1, Class M1                            | CUSIP: 77119RAC0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   7700000 | PA      | $7714723.17   | 0.19%             | 2040-02-25      | Variable      | 6.99%                 | Yes           |                  2 | On Loan: No      |
| ACRE COMMERCIAL MORTGAGE 2021-FL4 LTD                         | Acre Mortgage Trust Series 2021-FL4, Class E                               | CUSIP: 00489TAL0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   2000000 | PA      | $1953778.00   | 0.05%             | 2037-12-18      | Floating      | 8.03%                 | Yes           |                  2 | On Loan: No      |
| NALP BUSINESS LOAN TRUST 2024-1                               | Newtek Alternative Loan Program Series 2024-1, Class A                     | CUSIP: 629863AA9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  15592521 | PA      | $15780908.58  | 0.38%             | 2049-12-27      | Fixed         | 6.49%                 | Yes           |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corp.                              | Federal Home Loan Mortgage Corporation Series 4613 Class AF                | CUSIP: 3137BRZK4<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-O            | USGSE             | US        |   1941122 | PA      | $1925800.18   | 0.05%             | 2037-11-15      | Floating      | 5.55%                 | No            |                  2 | On Loan: No      |
| MOSAIC SOLAR LOAN TRUST                                       | Mosaic Solar Loans, LLC Series 2021-1, Class D                             | CUSIP: 61947DAD1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    418378 | PA      | $331815.75    | 0.01%             | 2046-12-20      | Fixed         | 3.71%                 | Yes           |                  2 | On Loan: No      |
| LENDING FUNDING TRUST                                         | Lendmark Funding Trust Series 2020-2A, Class C                             | CUSIP: 51507KAC0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1000000 | PA      | $975631.50    | 0.02%             | 2031-04-21      | Fixed         | 4.69%                 | Yes           |                  2 | On Loan: No      |
| BX TRUST 2025-VLT6                                            | BX Trust Series 2025-VLT6, Class C                                         | CUSIP: 12433KAE7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   5750000 | PA      | $5739218.75   | 0.14%             | 2042-03-15      | Floating      | 6.50%                 | Yes           |                  2 | On Loan: No      |
| HERTZ VEHICLE FINANCING III LLC                               | Hertz Vehicle Financing LLC Series 2024-2A, Class C                        | CUSIP: 42806MCN7<br>LEI: 549300MNOMKDMDFI8J66 | Long             | ABS-O            | CORP              | US        |   5400000 | PA      | $5448726.90   | 0.13%             | 2031-01-27      | Fixed         | 7.65%                 | Yes           |                  2 | On Loan: No      |
| PROGRESS RESIDENTIAL TST 2020-SFR3                            | Progress Residential Trust Series 21-SFR4 Class A                          | CUSIP: 74333EAA0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    454801 | PA      | $445460.78    | 0.01%             | 2038-05-19      | Fixed         | 1.56%                 | Yes           |                  2 | On Loan: No      |
| MARINER FINANCE ISSE TR 2020-A                                | Mariner Fianace Issuance Trust Series 2020-AA, Class D                     | CUSIP: 56848MAD1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   4582205 | PA      | $4580553.35   | 0.11%             | 2034-08-21      | Fixed         | 5.75%                 | Yes           |                  2 | On Loan: No      |
| Government National Mortgage Association                      | Government National Mortgage Association Series 2024-20, Class KV          | CUSIP: 38384JE26<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-O            | USGA              | US        |   8680185 | PA      | $9005224.03   | 0.22%             | 2034-12-20      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                         | Federal National Mortgage Association Pool CA8542                          | CUSIP: 3140QGP43<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   1988356 | PA      | $1798149.65   | 0.04%             | 2041-01-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| Wells Fargo & Co.                                             | WELLS FARGO FR ADJ%, DUE 06/17/2027                                        | CUSIP: 95000U2F9<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | DBT              | CORP              | US        |   1500000 | PA      | $1482032.85   | 0.04%             | 2027-06-17      | Fixed         | 3.20%                 | No            |                  2 | On Loan: No      |
| NYSEG Storm Funding LLC                                       | NYSEG Storm Funding LLC 4.713%, Due 05/01/2031                             | CUSIP: 67122QAA2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  14000000 | PA      | $14068550.30  | 0.34%             | 2031-05-01      | Fixed         | 4.71%                 | No            |                  2 | On Loan: No      |
| CFMT 2024-HB13 LLC                                            | Cascade Funding Mortgage Trust Series 2024-HB13, Class M4                  | CUSIP: 12530VAE5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |  15000000 | PA      | $13484617.50  | 0.32%             | 2034-05-25      | Variable      | 3.00%                 | Yes           |                  2 | On Loan: No      |
| FIRSTKEY HOMES TRUST                                          | FirstKey Homes Trust Series 2020-SFR1, Class B                             | CUSIP: 33767MAC9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   3580000 | PA      | $3553016.47   | 0.09%             | 2037-08-17      | Fixed         | 1.74%                 | Yes           |                  2 | On Loan: No      |
| VISTA PT SEC TR 24-CES1                                       | Vista Point Securitization Trust Series 2024-CES1, Class A1                | CUSIP: 92839HAA4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   5577346 | PA      | $5647720.94   | 0.14%             | 2054-05-25      | Variable      | 6.68%                 | Yes           |                  2 | On Loan: No      |
| NMEF FUNDING 2022-B LLC                                       | NMEF Funding, LLC Series 2022-B, Class C                                   | CUSIP: 62890MAD6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   9500000 | PA      | $9706061.65   | 0.23%             | 2029-06-15      | Fixed         | 8.54%                 | Yes           |                  2 | On Loan: No      |
| FREMF MORTGAGE TRUST                                          | FREMF Mortgage Trust Series 2019-KF57 CLASS B                              | CUSIP: 30297VAA8<br>LEI: N/A                  | Long             | ABS-O            | USGSE             | US        |   2955419 | PA      | $2816636.34   | 0.07%             | 2029-01-25      | Variable      | 5.90%                 | Yes           |                  2 | On Loan: No      |
| Government National Mortgage Association                      | Government National Mortgage Association Series 2024-43, Class NV          | CUSIP: 38384KQL8<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-O            | USGA              | US        |  16187670 | PA      | $16691220.05  | 0.40%             | 2035-01-20      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| BXMT 2020-FL3 LTD                                             | BXMT Ltd. Series 2020-FL3, Class A                                         | CUSIP: 05608XAA0<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |   6063363 | PA      | $6065067.01   | 0.15%             | 2037-11-15      | Floating      | 6.34%                 | Yes           |                  2 | On Loan: No      |
| NEWTEK SMALL BUSI LN TR 2023-1                                | Newtek Small Business Loan Trust Series 23-1 Class B                       | CUSIP: 65254RAB2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   4355149 | PA      | $4336712.46   | 0.10%             | 2050-07-25      | Variable      | 8.25%                 | Yes           |                  2 | On Loan: No      |
| RESEARCH-DRIVEN PAGAYA MOTOR ASSET TRUST 2024-1               | Research-Drive Pagaya Motor Asset Trust I Series 2024-1A, Class C          | CUSIP: 76088YAC4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   4862457 | PA      | $4869087.06   | 0.12%             | 2032-06-25      | Fixed         | 10.00%                | Yes           |                  2 | On Loan: No      |
| RMF PROP ISS TR 2022-1                                        | RMF Proprietary Issuance Trust Series 2022-1, Class M1                     | CUSIP: 74969XAB7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1600000 | PA      | $1424916.16   | 0.03%             | 2062-01-25      | Variable      | 3.00%                 | Yes           |                  2 | On Loan: No      |
| OPORTUN ISSUANCE TRUST 2021-C                                 | Oportun Funding LLC Series 2021-C, Class C                                 | CUSIP: 68377WAC5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   4889918 | PA      | $4805371.18   | 0.12%             | 2031-10-08      | Fixed         | 3.61%                 | Yes           |                  2 | On Loan: No      |
| PAGAYA AI DEBT TRUST 2024-1                                   | Pagaya AI Debt Selection Trust Series 2024-1, Class C                      | CUSIP: 69548AAC5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   4450673 | PA      | $4511269.32   | 0.11%             | 2031-07-15      | Fixed         | 8.34%                 | Yes           |                  2 | On Loan: No      |
| MARINER FINANCE ISSE TR 2021-A                                | Mariner Finance Issuance Trust Series 2021-AA                              | CUSIP: 56848DAD1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1850000 | PA      | $1772703.30   | 0.04%             | 2036-03-20      | Fixed         | 4.34%                 | Yes           |                  2 | On Loan: No      |
| MULLIGAN ASSET SECURITIZATION II LLC                          | Mulligan Asset Securitization Loans Series 2024-1, Class CC                | CUSIP: 62534LAF5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   3440000 | PA      | $3508513.79   | 0.08%             | 2031-10-15      | Fixed         | 12.06%                | Yes           |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corp.                              | Federal Home Loan Mortgage Association Series 3121 Class FM                | CUSIP: 31396JFX8<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-O            | USGSE             | US        |    163397 | PA      | $162375.52    | 0.00%             | 2036-03-15      | Floating      | 4.82%                 | No            |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corp.                              | Federal Home Loan Mortgage Corporation Series 2025-MN10, Class M1          | CUSIP: 35563UAA6<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-O            | USGA              | US        |  13241000 | PA      | $13108758.59  | 0.32%             | 2045-02-25      | Floating      | 6.36%                 | Yes           |                  2 | On Loan: No      |
| PROGRESS RESIDENTIAL 2025-SFR1 TRUS                           | Progress Residential Trust Series 25-SFR1 Class D                          | CUSIP: 74334NAG6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   6500000 | PA      | $5997119.70   | 0.14%             | 2042-02-17      | Fixed         | 3.65%                 | Yes           |                  2 | On Loan: No      |
| PROGRESS RESIDENTIAL 2024-SFR3                                | Progress Residential Trust Series 2024-SFR3, Class D                       | CUSIP: 74331VAG1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |  11500000 | PA      | $10675622.50  | 0.26%             | 2041-06-17      | Fixed         | 3.50%                 | Yes           |                  2 | On Loan: No      |
| STELLAR JAY US LLC 2021-1                                     | Stellar Jay Ireland Dac Series 2021-1, Class B                             | CUSIP: 858558AB5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   2961764 | PA      | $2918468.72   | 0.07%             | 2041-10-15      | Fixed         | 5.93%                 | Yes           |                  2 | On Loan: No      |
| LIFE FINANCIAL SERVICES TRUST                                 | Life Financial Services Trust Series 2022-BMR2, Class C                    | CUSIP: 53218DAG3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   9250000 | PA      | $8325000.00   | 0.20%             | 2039-05-15      | Floating      | 6.40%                 | Yes           |                  2 | On Loan: No      |
| CFMT 2024-HB13 LLC                                            | Cascade Funding Mortgage Trust Series 2024-HB13, Class M1                  | CUSIP: 12530VAB1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   7850000 | PA      | $7479837.96   | 0.18%             | 2034-05-25      | Variable      | 3.00%                 | Yes           |                  2 | On Loan: No      |
| PAGAYA AI DEBT TRUST 2024-1                                   | Pagaya AI Debt Selection Trust Series 2024-1, Class A                      | CUSIP: 69548AAA9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1029192 | PA      | $1035790.37   | 0.02%             | 2031-07-15      | Fixed         | 6.66%                 | Yes           |                  2 | On Loan: No      |
| REACH ABS TRUST 2023-1                                        | Reach Financial LLC Series 2024-1A, Class B                                | CUSIP: 75526PAB7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   3500000 | PA      | $3538260.25   | 0.09%             | 2031-02-18      | Fixed         | 6.29%                 | Yes           |                  2 | On Loan: No      |
| United States Treasury Notes                                  | U.S. Treasury Notes 2.25%, Due 08/15/2027                                  | CUSIP: 9128282R0<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  50000000 | PA      | $48500000.00  | 1.17%             | 2027-08-15      | Fixed         | 2.25%                 | No            |                  2 | On Loan: —       |
| OCWEN LN INVESTMNT TR2024-HB1                                 | Ocwen Loan Investmetn Trust Series 24-HB1 Class M4                         | CUSIP: 675952AE5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   5700000 | PA      | $5090474.49   | 0.12%             | 2037-02-25      | Variable      | 3.00%                 | Yes           |                  2 | On Loan: No      |
| MVW OWNER TRUST                                               | MVW Owner Trust Series 2021-1WA, Class D                                   | CUSIP: 55389TAD3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    950202 | PA      | $904723.65    | 0.02%             | 2041-01-22      | Fixed         | 3.17%                 | Yes           |                  2 | On Loan: No      |
| GENESIS SLS FIN MSTR TR 2019-A                                | Genesis Sales Finance Master Trust Series 2024-B, Class D                  | CUSIP: 37186XBA2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   5500000 | PA      | $5537258.10   | 0.13%             | 2032-12-20      | Fixed         | 7.04%                 | Yes           |                  2 | On Loan: No      |
| American Airlines, Inc.                                       | American Airlines Passthrough Trust Series 2016-2 Class AA                 | CUSIP: 023765AA8<br>LEI: IWUQB36BXD6OWD6X4T14 | Long             | ABS-O            | CORP              | US        |   1214000 | PA      | $1163586.71   | 0.03%             | 2029-12-15      | Fixed         | 3.20%                 | No            |                  2 | On Loan: No      |
| WOODWARD CAPITAL MANAGEMENT                                   | Woodward Capital Management Series 2024-CES5, Class A1A                    | CUSIP: 74938KAA5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   4881881 | PA      | $4905673.91   | 0.12%             | 2044-08-25      | Variable      | 5.85%                 | Yes           |                  2 | On Loan: No      |
| CP EF ASSET SECURITIZATION II LLC                             | CPF IV, LLC Series 2023-1A, Class C                                        | CUSIP: 224092AC0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   7000000 | PA      | $6914296.20   | 0.17%             | 2032-03-15      | Fixed         | 7.56%                 | Yes           |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corp.                              | Federal Home Loan Mortgage Association Series 4314 Class PF                | CUSIP: 3137B9GS8<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-O            | USGSE             | US        |     46312 | PA      | $46160.48     | 0.00%             | 2043-07-15      | Floating      | 4.82%                 | No            |                  2 | On Loan: No      |
| Pricoa Global Funding I                                       | Pricoa Global Funding 4.40%, Due 008/27/2027                               | CUSIP: 74153WCU1<br>LEI: 635400IBXEBMD9ADYA79 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $1004455.13   | 0.02%             | 2027-08-27      | Fixed         | 4.40%                 | Yes           |                  2 | On Loan: No      |
| PROGRESS RESIDENTIAL 2024-SFR4 TRUS                           | Progress Residential Trust Series 2024-SFR4, Class E2                      | CUSIP: 74334JAL4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   4500000 | PA      | $4027921.20   | 0.10%             | 2029-07-09      | Fixed         | 3.40%                 | Yes           |                  2 | On Loan: No      |
| HTAP 2024-1                                                   | HTAP Trust Series 2024-1, Class A                                          | CUSIP: 40445NAA6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |  10416153 | PA      | $10453930.44  | 0.25%             | 2037-04-25      | Fixed         | 7.00%                 | Yes           |                  2 | On Loan: No      |
| RMF PROPRIETARY ISSUANCE TRUST 2022                           | RMF Proprietary Issuance Trust Series 2022-2, Class M3                     | CUSIP: 74970CAD6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   2600000 | PA      | $2277198.56   | 0.05%             | 2062-06-25      | Variable      | 3.75%                 | Yes           |                  2 | On Loan: No      |
| HSBC Holdings PLC                                             | HSBC Holdings plc 5.597%, Due 05/17/2028                                   | CUSIP: 404280EF2<br>LEI: MLU0ZO3ML4LN2LL2TL39 | Long             | DBT              | CORP              | US        |   4000000 | PA      | $4074914.84   | 0.10%             | 2028-05-17      | Fixed         | 5.60%                 | No            |                  2 | On Loan: No      |
| AMCR ABS TRUST 2024-A                                         | AMCR ABS Trust Series 2024-A Class A                                       | CUSIP: 00178EAA3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |  12213428 | PA      | $12252602.66  | 0.29%             | 2031-08-18      | Fixed         | 6.26%                 | Yes           |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corp.                              | Federal Home Loan Mortgage Company Pool SA0084                             | CUSIP: 3132CJCV3<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGA              | US        |  22456783 | PA      | $21047929.64  | 0.51%             | 2031-11-01      | Fixed         | 1.50%                 | No            |                  2 | On Loan: No      |
| COLEM 2022-HLNE MORTGAGE TRUST                                | Colem 2021-HLNE Mortgage Trust Series 22-HLNE Class B                      | CUSIP: 12659JAE7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   4800000 | PA      | $4156058.88   | 0.10%             | 2042-04-12      | Variable      | 2.46%                 | Yes           |                  2 | On Loan: No      |
| CFMT 2021-GRN1 ISSUER TRUST                                   | Cascade Funding Mortgage Trust Series 2021-GRN1, Class B                   | CUSIP: 12529KAB8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   3588000 | PA      | $3453080.08   | 0.08%             | 2041-03-20      | Fixed         | 1.83%                 | Yes           |                  2 | On Loan: No      |
| AVANT CREDIT CARD MASTER TRUST                                | Avant Credit Card Master Trust Series 2024-1A, Class E                     | CUSIP: 05351KAJ8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   5000000 | PA      | $5099974.50   | 0.12%             | 2030-04-15      | Fixed         | 13.15%                | Yes           |                  2 | On Loan: No      |
| MISSION LANE CREDIT CARD MASTER TRU                           | Mission Lane Credit Card Master Trust Series 2023-B, Class A               | CUSIP: 60510MAT5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   3490000 | PA      | $3493291.77   | 0.08%             | 2028-11-15      | Fixed         | 7.69%                 | Yes           |                  2 | On Loan: No      |
| FINBE 2025-1A B                                               | FinBe Series 2025-1A, Class A                                              | CUSIP: 317967AA5<br>LEI: 4469000001BR51E83192 | Long             | ABS-O            | CORP              | US        |  15500000 | PA      | $15507007.55  | 0.37%             | 2028-12-15      | Fixed         | 5.70%                 | Yes           |                  2 | On Loan: No      |
| HERTZ VEHICLE FINANCING III LLC                               | Hertz Vehicle Financing LLC Series 2022-5A, Class D                        | CUSIP: 42806MBQ1<br>LEI: 5493004IHDYOZ9K9WF47 | Long             | ABS-O            | CORP              | US        |  10000000 | PA      | $9775655.00   | 0.23%             | 2028-09-25      | Fixed         | 6.78%                 | Yes           |                  2 | On Loan: No      |
| Government National Mortgage Association                      | Government National Mortgage Association Pool DI0037                       | CUSIP: 3618NHBE2<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |  15266039 | PA      | $15661478.29  | 0.38%             | 2065-03-20      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| BREAN ASSET BACKED SECS TR 24-RM8                             | Brean Asset Backed Securities Trust Series 2024-RM9, Class A1              | CUSIP: 10638DAA8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   9626449 | PA      | $9503349.78   | 0.23%             | 2064-09-25      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| UPSTART PS-TRGH TR SR 2022-ST3                                | Upstart Pass Through Trust Series 2022-ST3, Class A                        | CUSIP: 91681EAA2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   4638319 | PA      | $4606240.12   | 0.11%             | 2030-05-20      | Fixed         | 4.30%                 | Yes           |                  2 | On Loan: No      |
| BAMLL Commercial Mortgage Securities Trust 2016-Ashf          | Banc of America Merrill Lynch Large Loan Inc. Series 2016-SS1, Class A     | CUSIP: 05525JAA1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   6000000 | PA      | $5644150.20   | 0.14%             | 2035-12-15      | Fixed         | 3.67%                 | Yes           |                  2 | On Loan: No      |
| Energy Transfer LP                                            | Energy Transfer Operating, L.P. 5.50%, Due 6/1/27                          | CUSIP: 29278NAN3<br>LEI: MTLVN9N7JE8MIBIJ1H73 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $1017872.47   | 0.02%             | 2027-06-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: —       |
| General Motors Financial Company  Inc                         | General Motors Financial Company 1.25%, Due 01/08/2026                     | CUSIP: 37045XDD5<br>LEI: 5493008B6JBRUJ90QL97 | Long             | DBT              | CORP              | US        |   3700000 | PA      | $3631993.63   | 0.09%             | 2026-01-08      | Fixed         | 1.25%                 | No            |                  2 | On Loan: —       |
| Government National Mortgage Association                      | Government National Mortgage Association Series 12-H29 Class SA            | CUSIP: 38375BZS4<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-O            | USGA              | US        |    168496 | PA      | $168913.73    | 0.00%             | 2062-10-20      | Variable      | 4.96%                 | No            |                  2 | On Loan: No      |
| Rentas Fdo Inv Inm                                            | Renew Financial, LLC Series 2017-1A Class A                                | CUSIP: 75973LAA6<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |    813923 | PA      | $754899.27    | 0.02%             | 2052-09-20      | Fixed         | 3.67%                 | Yes           |                  2 | On Loan: No      |
| FHF TRUST 2023-1                                              | First Help Financial LLC Series 2023-1A, Class C                           | CUSIP: 30331GAG6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |  12907000 | PA      | $13267722.25  | 0.32%             | 2030-07-15      | Fixed         | 7.88%                 | Yes           |                  2 | On Loan: No      |
| LENDINGPOINT 2022-C ASSET SECURITIZ                           | LendingPoint Asset Securitization Series 22-C Class C                      | CUSIP: 525919AC0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   4500000 | PA      | $4270326.75   | 0.10%             | 2030-02-15      | Fixed         | 8.68%                 | Yes           |                  2 | On Loan: No      |
| NYMT LOAN TRUST SERIES 2024-BPL1                              | New York Mortgage Trust Series 2024-BPL1, Class A2                         | CUSIP: 62956MAB1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   2500000 | PA      | $2517310.00   | 0.06%             | 2029-02-25      | Fixed         | 8.62%                 | Yes           |                  2 | On Loan: No      |
| RFS ASSET SECURITIZATION II LLC                               | RFS Asset Securitization II LLC Series 2024-1, Class D                     | CUSIP: 74969DAP0<br>LEI: 335800KGU1WWBLMPTP11 | Long             | ABS-O            | CORP              | US        |   3250000 | PA      | $3293325.75   | 0.08%             | 2031-07-15      | Fixed         | 12.32%                | Yes           |                  2 | On Loan: No      |
| ALPHAFLOW TRANSITIONAL MORTGAGE TRU                           | AlphaFlow Transitional Mortgage Company Series 2021-WL1, Class A1          | CUSIP: 02079YAA5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   2281373 | PA      | $2159901.67   | 0.05%             | 2026-01-25      | Variable      | 3.28%                 | Yes           |                  2 | On Loan: No      |
| REGIONAL MANAGEMENT ISSUANCE TRUST                            | Regional Management Issuance Series 21-1 Class B                           | CUSIP: 75907VAB3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    895000 | PA      | $889159.32    | 0.02%             | 2031-03-17      | Fixed         | 2.42%                 | Yes           |                  2 | On Loan: No      |
| WELLS FARGO COMMERCIAL MORTGAGE TRUST                         | Wells Fargo Mortgage Trust Series 21-SAVE Class D                          | CUSIP: 95003LAL4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   2083200 | PA      | $2082041.74   | 0.05%             | 2040-02-15      | Floating      | 7.03%                 | Yes           |                  2 | On Loan: No      |
| UPSTRT STR PSTHRU TR 2022-4A                                  | Upstart Structured Pass-Through Trust Series 2022-2A, Class A              | CUSIP: 91680YAY7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    882369 | PA      | $876617.93    | 0.02%             | 2030-06-17      | Fixed         | 4.25%                 | Yes           |                  2 | On Loan: No      |
| CFMT 2024-HB14 LLC                                            | Cascade Funding Mortgage Trust Series 2024-HB14, Class A                   | CUSIP: 12530XAA9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |  19254265 | PA      | $18887241.88  | 0.45%             | 2034-06-25      | Variable      | 3.00%                 | Yes           |                  2 | On Loan: No      |
| Government National Mortgage Association                      | Government National Mortgage Association Series 2023-67, Class AC          | CUSIP: 38384AMQ3<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-O            | USGA              | US        |   5660839 | PA      | $5843070.31   | 0.14%             | 2053-05-20      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| ACRE COMMERCIAL MORTGAGE 2021-FL4 LTD                         | Acre Mortgage Trust Series 2021-FL4, Class C                               | CUSIP: 00489TAG1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   3000000 | PA      | $2949825.00   | 0.07%             | 2037-12-18      | Floating      | 6.68%                 | Yes           |                  2 | On Loan: No      |
| Federal National Mortgage Association                         | Federal National Mortgage Association Series 2012-33 Class F               | CUSIP: 3136A5TH9<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-O            | USGSE             | US        |     76506 | PA      | $75862.07     | 0.00%             | 2042-04-25      | Floating      | 4.94%                 | No            |                  2 | On Loan: No      |
| RMF BUYOUT ISSUANCE TRUST 2021-HB1                            | RMF Buyout Issuance Trust Series 2021-HB1, Class M4                        | CUSIP: 74969TAE0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   6350000 | PA      | $5953030.39   | 0.14%             | 2031-11-25      | Variable      | 4.70%                 | Yes           |                  2 | On Loan: No      |
| HERTZ VEHICLE FINANCING III LLC                               | Hertz Vehicle Financing LLC Series 2024-1A, Class C                        | CUSIP: 42806MCR8<br>LEI: 549300MNOMKDMDFI8J66 | Long             | ABS-O            | CORP              | US        |   9000000 | PA      | $9093968.10   | 0.22%             | 2029-01-25      | Fixed         | 6.70%                 | Yes           |                  2 | On Loan: No      |
| BHG SECURITIZATION TRUST 2023-B                               | Bankers Healthcare Group Securitization Trust Series 2023-B, Class C       | CUSIP: 08862GAC8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   3500000 | PA      | $3645056.10   | 0.09%             | 2036-12-17      | Fixed         | 8.15%                 | Yes           |                  2 | On Loan: No      |
| Federal National Mortgage Association                         | Federal National Mortgage Association Series 2023-14, Class G              | CUSIP: 3136BPF22<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-O            | USGSE             | US        |   4840314 | PA      | $4932285.78   | 0.12%             | 2048-06-25      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| PAGAYA AI DEBT TRUST 2024-2                                   | Pagaya AI Debt Selection Trust Series 24-2 Class C                         | CUSIP: 694961AC7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   9216843 | PA      | $9327791.53   | 0.22%             | 2031-08-15      | Fixed         | 7.57%                 | Yes           |                  2 | On Loan: No      |
| Hyundai Capital America                                       | Hyundai Capital America 5.65%, Due 06/26/2026                              | CUSIP: 44891ACG0<br>LEI: 549300RIPPWJB5Z0FK07 | Long             | DBT              | CORP              | US        |    900000 | PA      | $909032.26    | 0.02%             | 2026-06-26      | Fixed         | 5.65%                 | Yes           |                  2 | On Loan: No      |
| Federal National Mortgage Association                         | Federal National Mortgage Association Pool BM7138                          | CUSIP: 3140JB4Y9<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   6514056 | PA      | $6092297.03   | 0.15%             | 2051-10-01      | Variable      | 1.69%                 | No            |                  2 | On Loan: No      |
| Loanpal Solar Loan 2021-2 Ltd.                                | Loanpal Solar Loan Ltd. Series 21-1GS Class A                              | CUSIP: 53948PAA6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   2027312 | PA      | $1689625.31   | 0.04%             | 2048-01-20      | Fixed         | 2.29%                 | Yes           |                  2 | On Loan: No      |
| EXTENDED STAY AMERICA TRUST 2021-ESH                          | Extended Stay America Trust Series 2021-ESH, Class D                       | CUSIP: 30227FAJ9<br>LEI: 549300IESZBC3BJUJW64 | Long             | ABS-O            | CORP              | US        |  17376706 | PA      | $17398427.07  | 0.42%             | 2038-07-15      | Floating      | 6.68%                 | Yes           |                  2 | On Loan: No      |
| GENESIS SLS FIN MSTR TR 2019-A                                | Genesis Sales Finance Master Trust Series 2024-B, Class F                  | CUSIP: 37186XBC8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |  20167000 | PA      | $20479138.78  | 0.49%             | 2032-12-20      | Fixed         | 13.37%                | Yes           |                  2 | On Loan: No      |
| BOSTON LENDING TRUST 2022                                     | Boston Lending Trust Series 22-1 Class M2                                  | CUSIP: 10084LAC5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1097722 | PA      | $985897.36    | 0.02%             | 2062-02-25      | Variable      | 2.75%                 | Yes           |                  2 | On Loan: No      |
| ACM AUTO TRUST 2025-2                                         | ACM Auto Trust Series 2025-2A, Class B                                     | CUSIP: 00161TAC5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   2400000 | PA      | $2437729.44   | 0.06%             | 2032-02-20      | Fixed         | 7.25%                 | Yes           |                  2 | On Loan: No      |
| MERCHANTS FLEET FUNDING LLC                                   | Merchants Fleet Funding LLC Series 2023-1A, Class E                        | CUSIP: 588926AE5<br>LEI: 254900Z2OOQUA5IN2X83 | Long             | ABS-O            | CORP              | US        |   9640000 | PA      | $9848530.55   | 0.24%             | 2036-05-20      | Fixed         | 10.80%                | Yes           |                  2 | On Loan: No      |
| RESEARCH-DRIN PAG MT TR 2024-3                                | Research-Driven Pagaya Motor Asset Trust Series 2024-3A, Class C           | CUSIP: 76089HAC0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   5750000 | PA      | $5767801.43   | 0.14%             | 2033-03-25      | Fixed         | 6.46%                 | Yes           |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corp.                              | Federal Home Loan Mortgage Corporation Series 5171, Class UK               | CUSIP: 3137H4KF6<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-O            | USGSE             | US        |   1163171 | PA      | $597274.34    | 0.01%             | 2051-12-25      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| College Avenue Student Loans 2018-A LLC                       | College Avenue Student Loans Series 2018-A Class B                         | CUSIP: 19423DAC4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    538843 | PA      | $529075.28    | 0.01%             | 2047-12-26      | Fixed         | 4.75%                 | Yes           |                  2 | On Loan: No      |
| KeyBank National Association                                  | Key Bank NA 4.39%, Due 12/14/2027                                          | CUSIP: 49306SAA4<br>LEI: HUX2X73FUCYHUVH1BK78 | Long             | DBT              | CORP              | US        |   1600000 | PA      | $1601798.98   | 0.04%             | 2027-12-14      | Fixed         | 4.39%                 | No            |                  2 | On Loan: No      |
| ACM AUTO TRUST 2025-1                                         | ACM Auto Trust Series 2025-1A, Class B                                     | CUSIP: 00161EAC8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   3500000 | PA      | $3548162.10   | 0.09%             | 2031-11-20      | Fixed         | 7.87%                 | Yes           |                  2 | On Loan: No      |
| MERCURY FINANCIAL CREDIT CARD MASTER TRUST                    | Mercury Financial Credit Card Master Trust Series 2024-2A, Class B         | CUSIP: 58940BBB1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   5250000 | PA      | $5280408.00   | 0.13%             | 2029-07-20      | Fixed         | 7.43%                 | Yes           |                  2 | On Loan: No      |
| MERCURY FINANCIAL CREDIT CARD MASTER TRUST                    | Mercury Financial Credit Card Master Trust Series 2024-2A, Class C         | CUSIP: 58940BBC9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |  11000000 | PA      | $11165217.80  | 0.27%             | 2029-07-20      | Fixed         | 10.42%                | Yes           |                  2 | On Loan: No      |
| EXTENDED STAY AMERICA TRUST 2021-ESH                          | Extended Stay America Trust Series 2021-ESH, Class E                       | CUSIP: 30227FAL4<br>LEI: 549300IESZBC3BJUJW64 | Long             | ABS-O            | CORP              | US        |  18724197 | PA      | $18771007.05  | 0.45%             | 2038-07-15      | Floating      | 7.28%                 | Yes           |                  2 | On Loan: No      |
| ACHV 2023-1PL D MTGE 144A                                     | ACHV ABS Trust Series 2024-1PL, Class D                                    | CUSIP: 00092BAD6<br>LEI: 549300V82ZKZDTAU0A46 | Long             | ABS-O            | CORP              | US        |  17223849 | PA      | $17425061.55  | 0.42%             | 2031-04-25      | Fixed         | 7.29%                 | Yes           |                  2 | On Loan: No      |
| OPORTUN ISSUANCE TRUST 2021-B                                 | Oportun Funding LLC Series 2021-B, Class D                                 | CUSIP: 68377GAD8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   4303969 | PA      | $4251817.64   | 0.10%             | 2031-05-08      | Fixed         | 5.41%                 | Yes           |                  2 | On Loan: No      |
| LHOME MORTGAGE TRUST                                          | LHOME Mortgage Trust Series 2024-RTL4, Class A2                            | CUSIP: 50205PAB8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   9500000 | PA      | $9495905.50   | 0.23%             | 2039-07-25      | Variable      | 6.09%                 | Yes           |                  2 | On Loan: No      |
| American Express Company                                      | American Express Company 2.55% due 03/04/2027                              | CUSIP: 025816CS6<br>LEI: R4PP93JZOLY261QX3811 | Long             | DBT              | CORP              | US        |    500000 | PA      | $486825.57    | 0.01%             | 2027-03-04      | Fixed         | 2.55%                 | No            |                  2 | On Loan: No      |
| MF1 2021-FL5 Ltd / LLC                                        | MF1 Multifamily Housing Mortgage Trust Series 2021-FL5, Class AS           | CUSIP: 55282XAC4<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |   3397086 | PA      | $3388946.48   | 0.08%             | 2036-07-15      | Floating      | 5.64%                 | Yes           |                  2 | On Loan: No      |
| LL ABS TRUST 2019-1                                           | Reach Financial LLC Series 2022-1A, Class C                                | CUSIP: 50203YAC9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    755037 | PA      | $755212.18    | 0.02%             | 2029-11-15      | Fixed         | 5.88%                 | Yes           |                  2 | On Loan: No      |
| NMEF FUNDING LLC 2023-A                                       | NMEF Funding LLC Series 2023-A, Class C                                    | CUSIP: 62890QAD7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   4500000 | PA      | $4635667.80   | 0.11%             | 2030-06-17      | Fixed         | 8.04%                 | Yes           |                  2 | On Loan: No      |
| CFMT 2024-HB14 LLC                                            | Cascade Funding Mortgage Trust Series 2024-HB14, Class M4                  | CUSIP: 12530XAE1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   8500000 | PA      | $7676624.55   | 0.18%             | 2034-06-25      | Variable      | 3.00%                 | Yes           |                  2 | On Loan: No      |
| BREAN ASST BCK SEC TR 2022-RM3                                | Brean Asset Backed Securities Series 2022-RM5, Class A                     | CUSIP: 10637WAA7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   6549876 | PA      | $6397067.20   | 0.15%             | 2062-09-25      | Fixed         | 4.50%                 | Yes           |                  2 | On Loan: No      |
| PNC Bank National Association Pittsburgh Pennsylvania         | PNC Bank NA 4.775%, Due 01/15/2027                                         | CUSIP: 69353RFX1<br>LEI: AD6GFRVSDT01YPT1CS68 | Long             | DBT              | CORP              | US        |   3000000 | PA      | $3004889.55   | 0.07%             | 2027-01-15      | Fixed         | 4.78%                 | No            |                  2 | On Loan: —       |
| MULTIFAMILY CONNECT TR 2024-01                                | Multifamily Connecticut Avenue Series 2024-01, Class M7                    | CUSIP: 62548RAA7<br>LEI: 254900QY3MMJFMNKXA93 | Long             | ABS-O            | CORP              | US        |  15383810 | PA      | $15494293.60  | 0.37%             | 2054-07-25      | Floating      | 7.06%                 | Yes           |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corp.                              | Federal Home Loan Mortgage Corporation Series 3895 Class BF                | CUSIP: 3137ACUF4<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-O            | USGSE             | US        |    131209 | PA      | $130068.75    | 0.00%             | 2041-07-15      | Floating      | 4.95%                 | No            |                  2 | On Loan: No      |
| CFMT 2022-Ab2 LLC                                             | Cascade Funding Mortgage Trust Series 2022-AB2, Class M3                   | CUSIP: 12530JAD4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   5079432 | PA      | $4640073.57   | 0.11%             | 2052-02-25      | Fixed         | 2.00%                 | Yes           |                  2 | On Loan: No      |
| PROSPER MARKETPLACE ISSUANCE TRUST SERIES 2023-1              | Prosper Marketplace Issuance Trust Series 2023-1A, Class D                 | CUSIP: 74390NAG7<br>LEI: 549300WV6NCA12RVBP15 | Long             | ABS-O            | CORP              | US        |   1900000 | PA      | $1983996.15   | 0.05%             | 2029-07-16      | Fixed         | 11.24%                | Yes           |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corp.                              | Federal Home Loan Mortgage Corporation Series 2021-MN2, Class B1           | CUSIP: 35563JAC7<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-O            | USGA              | US        |  16504000 | PA      | $16544154.23  | 0.40%             | 2041-07-25      | Floating      | 9.81%                 | Yes           |                  2 | On Loan: No      |
| OPORTUN ISSUANCE TR 2022-A                                    | Opportunity Funding LLC Series 22-A Class C                                | CUSIP: 68378NAC4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   7600000 | PA      | $7733670.32   | 0.19%             | 2031-06-09      | Fixed         | 7.40%                 | Yes           |                  2 | On Loan: No      |
| MF1 2024-FL15 LLC                                             | MF1 Multifamily Housing Mortgage Loan Trust Series 2024-FL15, Class B      | CUSIP: 58003MAE6<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |   4500000 | PA      | $4504491.00   | 0.11%             | 2041-08-18      | Variable      | 6.81%                 | Yes           |                  2 | On Loan: No      |
| Fhf Issuer Trust 2024-1                                       | First Help Financial LLC Series 2024-1A, Class C                           | CUSIP: 31568AAD8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   2500000 | PA      | $2619314.25   | 0.06%             | 2031-05-15      | Fixed         | 7.42%                 | Yes           |                  2 | On Loan: No      |
| WOODWARD CAPITAL MANAGEMENT                                   | Woodward Capital Management Series 2023-CES2, Class A1A                    | CUSIP: 748956AA7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |  12609332 | PA      | $12740822.57  | 0.31%             | 2043-09-25      | Variable      | 6.81%                 | Yes           |                  2 | On Loan: No      |
| OPORTUN FDG TR 2025-1                                         | Oportun Funding LLC Series 2025-1, Class D                                 | CUSIP: 68377PAD8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   4500000 | PA      | $4517665.20   | 0.11%             | 2032-08-16      | Fixed         | 8.27%                 | Yes           |                  2 | On Loan: No      |
| PAGAYA AI DEBT GRANTOR TRUST 2025-4                           | Pagaya AI Debt Selection Trust Series 2025-4, Class D                      | CUSIP: 69547DAE6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   6900000 | PA      | $6933630.60   | 0.17%             | 2033-01-17      | Fixed         | 6.57%                 | Yes           |                  2 | On Loan: No      |
| FIRSTKEY HOMES TRUST                                          | Firstkey Homes Trust Series 2020-SFR2, Class B                             | CUSIP: 33767JAC6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |  24485000 | PA      | $24154486.78  | 0.58%             | 2037-10-19      | Fixed         | 1.57%                 | Yes           |                  2 | On Loan: No      |
| Government National Mortgage Association                      | Government National Mortgage Association Pool 787873                       | CUSIP: 3622ADT65<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |  26396242 | PA      | $27241019.81  | 0.65%             | 2055-03-20      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| MF1 2021-FL6 LTD                                              | MF1 Multifamily Housing Mortgage Loan Trust Series 2021-FL6, Class C       | CUSIP: 55283TAG3<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |   8300000 | PA      | $8240970.40   | 0.20%             | 2036-07-16      | Floating      | 6.28%                 | Yes           |                  2 | On Loan: No      |
| Federal National Mortgage Association                         | Federal National Mortgage Association Pool AL8682                          | CUSIP: 3138ETUG9<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   4517092 | PA      | $4301917.73   | 0.10%             | 2031-07-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| KAPITUS ASSET SECURITIZATION IV LLC                           | Kapitus Asset Securitization LLC Series 2024-1A, Class 1D                  | CUSIP: 48555MAH2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   6220000 | PA      | $6207729.18   | 0.15%             | 2031-09-10      | Fixed         | 9.90%                 | Yes           |                  2 | On Loan: No      |
| BX COMMERCIAL MORTGAGE TRUST 2024-AIRC                        | BX Trust Series 2024-AIRC, Class D                                         | CUSIP: 12433CAG0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |  28150866 | PA      | $28253746.31  | 0.68%             | 2039-08-15      | Floating      | 7.40%                 | Yes           |                  2 | On Loan: No      |
| ACHM TRUST 2024-HE2                                           | Achieve Mortgage Series 2024-HE2, Class A                                  | CUSIP: 00112DAA4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |  12952555 | PA      | $12933185.77  | 0.31%             | 2039-10-25      | Variable      | 5.35%                 | Yes           |                  2 | On Loan: No      |
| SUNNOVA HELIOS X ISSUER LLC                                   | Helios Issuer, LLC Series 22-C Class C                                     | CUSIP: 86744WAC3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   4045915 | PA      | $1675225.92   | 0.04%             | 2049-11-22      | Fixed         | 6.00%                 | Yes           |                  2 | On Loan: No      |
| Pagaya Point of Sale Holdings Trust 2025-1                    | Pagaya Point of Sale Holdings Series 25-1 Class F                          | CUSIP: 694951AB0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   2600000 | PA      | $2394117.44   | 0.06%             | 2034-01-20      | Fixed         | 12.00%                | Yes           |                  2 | On Loan: No      |
| Dell International L.L.C. and EMC Corporation                 | Dell Technologies Incorporated 4.90%, Due 10/01/2026                       | CUSIP: 24703TAE6<br>LEI: 254900ZARLSVK41DKO78 | Long             | DBT              | CORP              | US        |    300000 | PA      | $301337.78    | 0.01%             | 2026-10-01      | Fixed         | 4.90%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                         | Federal National Mortgage Assocation Series 2017-28, Class LK              | CUSIP: 3136AWFA0<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-O            | USGSE             | US        |    548046 | PA      | $544775.61    | 0.01%             | 2053-03-25      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| ONDECK ASSET SECURITIZATION IV LLC                            | Ondeck Asset Securitization Trust Series 2024-2A, Class C                  | CUSIP: 67108SAF5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2300000 | PA      | $2292424.72   | 0.06%             | 2031-10-17      | Fixed         | 7.03%                 | Yes           |                  2 | On Loan: No      |
| PROGRESS RESIDENTIAL 2024-SFR4 TRUS                           | Progress Residential Trust Series 2024-SFR4, Class D                       | CUSIP: 74334JAG5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |  15000000 | PA      | $13783359.00  | 0.33%             | 2029-07-09      | Fixed         | 3.40%                 | Yes           |                  2 | On Loan: No      |
| ACHV ABS TRUST 2024-3AL                                       | ACHV ABS Trust Series 2024-3AL, Class E                                    | CUSIP: 00092KAE4<br>LEI: 549300V82ZKZDTAU0A46 | Long             | ABS-O            | CORP              | US        |   7750000 | PA      | $7606766.83   | 0.18%             | 2031-12-26      | Fixed         | 7.00%                 | Yes           |                  2 | On Loan: No      |
| RMF PROPRIETARY ISSUANCE TRUST 2022                           | RMF Proprietary Issuance Trust Series 2022-2, Class A                      | CUSIP: 74970CAA2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   7600873 | PA      | $7108932.76   | 0.17%             | 2062-06-25      | Variable      | 3.75%                 | Yes           |                  2 | On Loan: No      |
| CROCKETT PARTNERS EQUIPMENT COMPANY IIA LLC                   | Crockett Partners Equipment Company Series 2024-1C, Class C                | CUSIP: 22689LAC9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1833333 | PA      | $1897194.43   | 0.05%             | 2031-01-20      | Fixed         | 10.16%                | Yes           |                  2 | On Loan: No      |
| SPS SERVICER ADVANCE RECEIVABLES TRUST II                     | SPS Servicer Advance Receivables Series 2020-T2, Class A                   | CUSIP: 78472JAE3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |  11300000 | PA      | $11152241.20  | 0.27%             | 2055-11-15      | Fixed         | 1.83%                 | Yes           |                  2 | On Loan: No      |
| BAMLL COMMERCIAL MORTGAGE SECURITIES TRUST                    | Banc of America Merrill Lynch Commercial Mortgage Series 2020-BOC, Class A | CUSIP: 05551JAA8<br>LEI: 549300MWBLMUUG6B8094 | Long             | ABS-O            | CORP              | US        |   4600000 | PA      | $4022170.08   | 0.10%             | 2032-01-15      | Fixed         | 2.63%                 | Yes           |                  2 | On Loan: No      |
| ONDECK ASSET SECURITIZATION IV LLC                            | OnDeck Asset Securitization Trust Series 2024-1A, Class B                  | CUSIP: 67118NAB3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   3750000 | PA      | $3808729.50   | 0.09%             | 2031-06-17      | Fixed         | 7.15%                 | Yes           |                  2 | On Loan: No      |
| CAFL ISSUER LLC 2021-RTL1                                     | CoreVest American Finance Limited Series 2021-RTL1, Class A2               | CUSIP: 12468RAC4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1961556 | PA      | $1960375.45   | 0.05%             | 2029-03-28      | Fixed         | 5.10%                 | Yes           |                  2 | On Loan: No      |
| PURCHASING FDG LLC 2024-A                                     | Purchasing Power Funding Series 2024-A, Class E                            | CUSIP: 745935AE6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   2200000 | PA      | $2226979.92   | 0.05%             | 2028-08-15      | Fixed         | 10.18%                | Yes           |                  2 | On Loan: No      |
| LHOME MORTGAGE TRUST 2024-RTL2                                | LHOME Mortgage Trust Series 2024-RTL2, Class A1                            | CUSIP: 50205JAA4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |  25000000 | PA      | $25267352.50  | 0.61%             | 2029-03-25      | Fixed         | 7.39%                 | Yes           |                  2 | On Loan: No      |
| Government National Mortgage Association                      | Government National Mortgage Assocation Series 2023-167, Class VC          | CUSIP: 38384FAK8<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-O            | USGA              | US        |   8030657 | PA      | $8274823.04   | 0.20%             | 2034-08-20      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                      | Government National Mortgage Association Series 2023-151, Class BZ         | CUSIP: 38384DKG1<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-O            | USGA              | US        |   6606515 | PA      | $6860554.50   | 0.16%             | 2053-10-20      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Bxmt 2020-Fl2 Ltd.                                            | BXMT Ltd. Series 2020-FL2, Class E                                         | CUSIP: 12434LAL8<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |   3500000 | PA      | $3038129.50   | 0.07%             | 2038-02-15      | Floating      | 6.74%                 | Yes           |                  2 | On Loan: No      |
| MOSAIC SOLAR LOAN TRUST 2023-2                                | Mosaic Solar Loans LLC Series 2023-2A, Class C                             | CUSIP: 61945WAC3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |  11000000 | PA      | $7523082.60   | 0.18%             | 2053-09-22      | Fixed         | 8.18%                 | Yes           |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corp.                              | Federal Home Loan Mortgage Corporation Series 2021-MN1                     | CUSIP: 35563FAA9<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-O            | USGA              | US        |   3501982 | PA      | $3485932.74   | 0.08%             | 2051-01-25      | Floating      | 6.31%                 | Yes           |                  2 | On Loan: No      |
| The Toronto-Dominion Bank                                     | Toronto-Dominion Bank (The) 4.861%, Due 01/31/2028                         | CUSIP: 89115A3E0<br>LEI: PT3QB789TSUIDF371261 | Long             | DBT              | CORP              | US        |   2925000 | PA      | $2965036.26   | 0.07%             | 2028-01-31      | Fixed         | 4.86%                 | No            |                  2 | On Loan: —       |
| FORA FINANCIAL ASSET SECURITIZATION                           | FOR A Financial Asset Securitization Series 2024-1A, Class D               | CUSIP: 34512PAD6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   4000000 | PA      | $4024994.40   | 0.10%             | 2029-08-15      | Fixed         | 12.01%                | Yes           |                  2 | On Loan: No      |
| MISSION LANE CREDIT CARD MASTER TRU                           | Mission Lane Credit Card Master Trust Series 2024-A, Class C               | CUSIP: 60510MBB3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |  11000000 | PA      | $11085474.40  | 0.27%             | 2029-08-15      | Fixed         | 7.32%                 | Yes           |                  2 | On Loan: No      |
| OPORTUN ISSUANCE TRUST 2025-A                                 | Oportun Funding, LLC Series 2025-A, Class E                                | CUSIP: 68377TAE8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   8500000 | PA      | $8464736.90   | 0.20%             | 2033-02-08      | Fixed         | 10.00%                | Yes           |                  2 | On Loan: No      |
| RFT TRUST 2024-2                                              | Redwood Funding Trust Series 2024-2, Class A2                              | CUSIP: 76201AAD6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   7524159 | PA      | $7501834.82   | 0.18%             | 2028-09-27      | Fixed         | 8.81%                 | Yes           |                  2 | On Loan: No      |
| LHOME MTG TR 2024-RTL1                                        | LHOME Mortgage Trust Series 2024-RTL1, Class A1                            | CUSIP: 50205DAA7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   7050000 | PA      | $7108661.64   | 0.17%             | 2029-01-25      | Fixed         | 7.02%                 | Yes           |                  2 | On Loan: No      |
| LIFE FINANCIAL SERVICES TRUST                                 | Life Financial Services Trust Series 2022-BMR2, Class A1                   | CUSIP: 53218DAA6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |  31395000 | PA      | $30413906.25  | 0.73%             | 2039-05-15      | Floating      | 5.61%                 | Yes           |                  2 | On Loan: No      |
| TRICOLOR AUTO SECURITIZATION TRUST                            | Tricolor Auto Securitization Trust Series 2024-2A, Class B                 | CUSIP: 89616PAB9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   5750000 | PA      | $5805085.58   | 0.14%             | 2028-02-15      | Fixed         | 6.57%                 | Yes           |                  2 | On Loan: No      |
| Fremf 2012 Kf01 Mortgage Trust                                | Freedom Mortgage Trust Series 2018-KF48, Class B                           | CUSIP: 30308EAG0<br>LEI: N/A                  | Long             | ABS-O            | USGSE             | US        |   4142895 | PA      | $3919641.04   | 0.09%             | 2028-06-25      | Variable      | 6.48%                 | Yes           |                  2 | On Loan: No      |
| REACH ABS TRUST 2023-1                                        | Reach Financial LLC Series 2023-1A, Class C                                | CUSIP: 75525AAC9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |  14020000 | PA      | $14377389.43  | 0.35%             | 2031-02-18      | Fixed         | 8.45%                 | Yes           |                  2 | On Loan: No      |
| CFMT 2024-HB13 LLC                                            | Cascade Funding Mortgage Trust Series 2024-HB13, Class A                   | CUSIP: 12530VAA3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |  12715122 | PA      | $12493781.36  | 0.30%             | 2034-05-25      | Variable      | 3.00%                 | Yes           |                  2 | On Loan: No      |
| MISSION LANE CREDIT CARD MASTER TRU                           | Mission Lane Credit Card Master Trust Series 2024-A, Class E               | CUSIP: 60510MBD9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   5000000 | PA      | $5090823.50   | 0.12%             | 2029-08-15      | Fixed         | 13.69%                | Yes           |                  2 | On Loan: No      |
| BUILDERS CAP LN ACQ TR 2024-NPL1                              | Builders Capital Loan Acquisition Trust Series 2024-NPL1, Class A1B        | CUSIP: 12007KAF0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |  10000000 | PA      | $9994651.00   | 0.24%             | 2029-11-25      | Fixed         | 9.00%                 | Yes           |                  2 | On Loan: No      |
| MCR 2024-TWA MORTGAGE TRUST                                   | MCR Mortgage Trust Series 2024-TWA, Class D                                | CUSIP: 582923AD0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   9000000 | PA      | $9089110.80   | 0.22%             | 2039-06-12      | Fixed         | 7.40%                 | Yes           |                  2 | On Loan: No      |
| CHERRY SECURITIZATION TRUST 2024-1                            | Cherry Securitization Trust Series 2024-1A, Class C                        | CUSIP: 164737AC2<br>LEI: 213800F9SQ753JQHSW24 | Long             | ABS-O            | CORP              | US        |   2750000 | PA      | $2805121.28   | 0.07%             | 2032-04-15      | Fixed         | 9.31%                 | Yes           |                  2 | On Loan: No      |
| Federal National Mortgage Association                         | Federal National Mortgage Association Series 2010-136 Class FA             | CUSIP: 31398STC7<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-O            | USGSE             | US        |    152432 | PA      | $150947.39    | 0.00%             | 2040-12-25      | Floating      | 4.92%                 | No            |                  2 | On Loan: No      |
| TVC MORTGAGE TRUST 2024-RRTL1                                 | TVC Mortgage Trust Series 2024-RRTL1, Class A2                             | CUSIP: 87306WAB3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   5400000 | PA      | $5414523.84   | 0.13%             | 2039-07-25      | Variable      | 5.96%                 | Yes           |                  2 | On Loan: No      |
| POINT SECURITIZATION TRUST 2025-1                             | Point Securitization Trust Series 2025-1, Class A1                         | CUSIP: 73072DAA9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   6280900 | PA      | $6264878.34   | 0.15%             | 2055-06-25      | Variable      | 6.25%                 | Yes           |                  2 | On Loan: No      |
| VISTA POINT SECURITIZATION TRUST 20                           | Vista Point Securitization Trust Series 2024-CES2, Class A1                | CUSIP: 92841YAA3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |  16763833 | PA      | $16658395.07  | 0.40%             | 2054-10-25      | Variable      | 5.25%                 | Yes           |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corp.                              | MultiFamily Structured Credit Series 2024-MN8, Class M1                    | CUSIP: 35563RAA3<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-O            | USGA              | US        |   6997549 | PA      | $7068211.57   | 0.17%             | 2044-05-25      | Floating      | 7.16%                 | Yes           |                  2 | On Loan: No      |
| FIRSTKEY HOMES TRUST                                          | Firstkey Homes Trust Series 2020-SFR2, Class A                             | CUSIP: 33767JAA0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |  89986599 | PA      | $88846810.51  | 2.14%             | 2037-10-19      | Fixed         | 1.27%                 | Yes           |                  2 | On Loan: No      |
| Fremf 2019-Kf62 Mtg Tr                                        | Freedom Mortgage Trust Series 19-KF62 Class B                              | CUSIP: 30310WAF8<br>LEI: N/A                  | Long             | ABS-O            | USGSE             | US        |   3245197 | PA      | $3165555.66   | 0.08%             | 2026-04-25      | Variable      | 6.48%                 | Yes           |                  2 | On Loan: No      |
| American Express Company                                      | American Express Company 5.043%, Due 07/26/2028                            | CUSIP: 025816DV8<br>LEI: R4PP93JZOLY261QX3811 | Long             | DBT              | CORP              | US        |    500000 | PA      | $506829.36    | 0.01%             | 2028-07-26      | Fixed         | 5.04%                 | No            |                  2 | On Loan: No      |
| OPORTUN ISSUANCE TR 2024-2                                    | Oportun Funding LLC Series 2024-2, Class D                                 | CUSIP: 68377KAD9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   8000000 | PA      | $8387740.80   | 0.20%             | 2032-02-09      | Fixed         | 10.47%                | Yes           |                  2 | On Loan: No      |
| TRICON RESIDENTAL TR 2025-SFR1                                | Tricon Residential Series 2025-SFR1, Class C                               | CUSIP: 895974AC7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   5650000 | PA      | $5648330.43   | 0.14%             | 2030-03-17      | Floating      | 5.93%                 | Yes           |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corp.                              | Federal Home Loan Mortgage Corporation Series 2021-MN3, Class M1           | CUSIP: 35563GAA7<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-O            | USGA              | US        |  15804660 | PA      | $15818013.51  | 0.38%             | 2051-11-25      | Floating      | 6.61%                 | Yes           |                  2 | On Loan: No      |
| CHERRY SECURITIZATION TRUST 2024-1                            | Cherry Securitization Trust Series 2024-1A, Class A                        | CUSIP: 164737AA6<br>LEI: 213800F9SQ753JQHSW24 | Long             | ABS-O            | CORP              | US        |  13350000 | PA      | $13434377.34  | 0.32%             | 2032-04-15      | Fixed         | 5.70%                 | Yes           |                  2 | On Loan: No      |
| N/A                                                           | Redwood Funding Trust Series 2025-RR1, Class A1                            | CUSIP: 749433AA6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |  34000000 | PA      | $33999524.00  | 0.82%             | 2028-06-27      | Fixed         | 6.77%                 | Yes           |                  2 | On Loan: No      |
| Jackson National Life Global Funding                          | Jackson National Life Global Funding 5.55%, Due 07/02/2027                 | CUSIP: 46849LVA6<br>LEI: 635400PQXLYXWJI5QD78 | Long             | DBT              | CORP              | US        |   3150000 | PA      | $3214356.17   | 0.08%             | 2027-07-02      | Fixed         | 5.55%                 | Yes           |                  2 | On Loan: No      |
| College Avenue Student Loans 2019-A LLC                       | College Avenue Student Loans Series 2019-A Class C                         | CUSIP: 19421UAD6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1788530 | PA      | $1747866.60   | 0.04%             | 2048-12-28      | Fixed         | 4.46%                 | Yes           |                  2 | On Loan: No      |
| FMC GMSR ISSUER TRUST                                         | FMC GMSR Issue Trust Series 2021-GT1, Class A                              | CUSIP: 30259RAH8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   9900000 | PA      | $9377022.60   | 0.23%             | 2026-07-25      | Fixed         | 3.62%                 | Yes           |                  2 | On Loan: No      |
| PROGRESS RES TR 2021-SFR5                                     | Progress Residential Trust Series 21-SFR5 Class E                          | CUSIP: 74333FAE9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   5000000 | PA      | $4841633.00   | 0.12%             | 2038-07-17      | Fixed         | 2.21%                 | Yes           |                  2 | On Loan: No      |
| MULTIFAMILY CONNECTICUT AVENUE                                | Multi Family Connecticut Ave Series 2020-01, Class CE                      | CUSIP: 62548QAF8<br>LEI: 549300HG8ZEWVWVSN227 | Long             | ABS-O            | CORP              | US        |  14063000 | PA      | $14638543.74  | 0.35%             | 2050-03-25      | Floating      | 11.92%                | Yes           |                  2 | On Loan: No      |
| NYC COMMERCIAL MORTGAGE TRUST 2025-3BP                        | NYC Commerical Mortgage Trust Series 2025-3BP, Class D                     | CUSIP: 67120UAG2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   4700000 | PA      | $4618140.10   | 0.11%             | 2042-02-15      | Floating      | 6.75%                 | Yes           |                  2 | On Loan: No      |
| HERTZ VEHICLE FINANCING III LLC                               | Hertz Vehicle Financing LLC Series 2023-4A, Class D                        | CUSIP: 42806MCH0<br>LEI: 5493004IHDYOZ9K9WF47 | Long             | ABS-O            | CORP              | US        |  10000000 | PA      | $10267391.00  | 0.25%             | 2030-03-25      | Fixed         | 9.44%                 | Yes           |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corp.                              | MultiFamily Structured Credit Series 2024-MN9, Class M1                    | CUSIP: 355917AA3<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-O            | USGA              | US        |   3807254 | PA      | $3813195.42   | 0.09%             | 2044-10-25      | Floating      | 6.77%                 | Yes           |                  2 | On Loan: No      |
| Broadcom Inc                                                  | Broadcom Incorporated 5.05%, Due 07/12/2027                                | CUSIP: 11135FBZ3<br>LEI: 549300WV6GIDOZJTV909 | Long             | DBT              | CORP              | US        |   4225000 | PA      | $4284764.36   | 0.10%             | 2027-07-12      | Fixed         | 5.05%                 | No            |                  2 | On Loan: —       |
| Bxmt 2020-Fl2 Ltd.                                            | BXMT Ltd. Series 2020-FL2, Class D                                         | CUSIP: 12434LAJ3<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |   6386000 | PA      | $6131939.38   | 0.15%             | 2038-02-15      | Floating      | 6.64%                 | Yes           |                  2 | On Loan: No      |
| PROGRESS RESIDENTIAL 2024-SFR2 TRUS                           | Progress Residential Trust Series 2024-SFR2, Class E2                      | CUSIP: 74290XAL5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1500000 | PA      | $1378589.10   | 0.03%             | 2041-04-17      | Fixed         | 3.65%                 | Yes           |                  2 | On Loan: No      |
| SALUDA GRADE ALTERNATIVE MORTGAGE T                           | Saluda Grade Alternative Mortgage Trust Series 2025-NPL1, Class A1         | CUSIP: 79582BAA3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |  25884161 | PA      | $25874584.10  | 0.62%             | 2030-01-25      | Variable      | 7.12%                 | Yes           |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corp.                              | Federal Home Loan Mortgage Corporation Series 2021-MN3, Class B1           | CUSIP: 35563GAC3<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-O            | USGA              | US        |  13500000 | PA      | $14293134.45  | 0.34%             | 2051-11-25      | Floating      | 11.16%                | Yes           |                  2 | On Loan: No      |
| TRICOLOR AUTO SECURITIZATION TRUST                            | Tricolor Auto Securitization Trust Series 2024-3A, Class B                 | CUSIP: 89617AAB1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   2875000 | PA      | $2881444.89   | 0.07%             | 2028-09-15      | Fixed         | 5.36%                 | Yes           |                  2 | On Loan: No      |
| TVC MORTGAGE TRUST 2024-RRTL1                                 | TVC Mortgage Trust Series 2024-RRTL1, Class M2                             | CUSIP: 87306WAD9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   8750000 | PA      | $8617365.75   | 0.21%             | 2039-07-25      | Variable      | 9.40%                 | Yes           |                  2 | On Loan: No      |
| TRICOLOR AUTO SECURITIZATION TRUST                            | Tricolor Auto Securitization Trust Series 2024-2A, Class C                 | CUSIP: 89616PAC7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   2500000 | PA      | $2530425.75   | 0.06%             | 2028-04-17      | Fixed         | 6.93%                 | Yes           |                  2 | On Loan: No      |
| GOODLEAP SUSTAINABLE HOME SOLUTIONS                           | GoodLeap Sustainable Home Improvement Loan Trust Series 2023-1GS, Class A  | CUSIP: 38237VAA4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   8283186 | PA      | $8024934.17   | 0.19%             | 2055-02-22      | Fixed         | 5.52%                 | Yes           |                  2 | On Loan: No      |
| FREED ABS TRUST 2022-3FP                                      | Freedom Financial Series 2022-3FP, Class D                                 | CUSIP: 35634EAD1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   6919993 | PA      | $6959615.03   | 0.17%             | 2029-08-20      | Fixed         | 7.36%                 | Yes           |                  2 | On Loan: No      |
| PROGRESS RES TR 2021-SRF8                                     | Progress Residential Trust Series 2021-SFR8, Class E2                      | CUSIP: 74333TAL3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |  11311000 | PA      | $10948731.29  | 0.26%             | 2038-10-17      | Fixed         | 2.53%                 | Yes           |                  2 | On Loan: No      |
| OPORTUN ISSUANCE TRUST 2021-B                                 | Oportun Funding LLC Series 2021-B                                          | CUSIP: 68377GAA4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   2142148 | PA      | $2089655.99   | 0.05%             | 2031-05-08      | Fixed         | 1.47%                 | Yes           |                  2 | On Loan: No      |
| Mosaic Solar Loans 2017-1 LLC                                 | Mosaic solar Loans LLC Series 2017-2A Class B                              | CUSIP: 61946GAB9<br>LEI: 549300ZLA8SW2SVJMN33 | Long             | ABS-O            | CORP              | US        |    276657 | PA      | $248115.22    | 0.01%             | 2043-06-22      | Fixed         | 4.77%                 | Yes           |                  2 | On Loan: No      |
| REACH ABS TRUST 2025-1                                        | Reach Financial LLC Series 2025-1A, Class C                                | CUSIP: 75525PAC6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   2500000 | PA      | $2522787.00   | 0.06%             | 2032-08-16      | Fixed         | 5.99%                 | Yes           |                  2 | On Loan: No      |
| Volkswagen Group of America Finance LLC                       | Volkswagen Group America 4.90%, Due 08/17/2026                             | CUSIP: 928668CK6<br>LEI: 5493002SQ1AVQBY41K40 | Long             | DBT              | CORP              | US        |    800000 | PA      | $801384.89    | 0.02%             | 2026-08-14      | Fixed         | 4.90%                 | Yes           |                  2 | On Loan: —       |
| WELLS FARGO COMMERCIAL MORTGAGE TRUST                         | Wells Fargo Mortgage Trust Series 21-SAVE Class E                          | CUSIP: 95003LAN0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   5680000 | PA      | $5676835.10   | 0.14%             | 2040-02-15      | Floating      | 8.18%                 | Yes           |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corp.                              | Federal Home Loan Mortgage Corporation Series 2021-MN2, Class M1           | CUSIP: 35563JAA1<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-O            | USGA              | US        |   4416879 | PA      | $4337379.78   | 0.10%             | 2041-07-25      | Floating      | 6.11%                 | Yes           |                  2 | On Loan: No      |
| SPS SERVICER ADVANCE RECEIVABLES TRUST II                     | SPS Servicer Advance Receivables Series 2020-T2, Class D                   | CUSIP: 78472JAH6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   4118000 | PA      | $4059047.12   | 0.10%             | 2055-11-15      | Fixed         | 3.16%                 | Yes           |                  2 | On Loan: No      |
| DROP MTGE TST                                                 | Drop Mortgage Trust Series 2021-FILE, Class B                              | CUSIP: 26210YAG1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |  19400000 | PA      | $18302747.64  | 0.44%             | 2043-10-15      | Floating      | 6.13%                 | Yes           |                  2 | On Loan: No      |
| NCL BUSINESS LOAN TRUST 2022-1                                | NCL Business Loan Trust Series 2022-1, Class A                             | CUSIP: 62887RAA6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1213578 | PA      | $1210893.87   | 0.03%             | 2046-09-25      | Fixed         | 3.19%                 | Yes           |                  2 | On Loan: No      |
| Loanpal Solar Ln 2021-2 Ltd / LLC.                            | Loanpal Solar Loan Ltd. Series 2021-2GS, Class A                           | CUSIP: 53948QAA4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1582031 | PA      | $1280332.89   | 0.03%             | 2048-03-20      | Fixed         | 2.22%                 | Yes           |                  2 | On Loan: No      |
| CPS AUTO RECEIVABLES TRUST 2024--D                            | CPS Auto Trust Series 2024-D, Class A                                      | CUSIP: 22411JAA3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |  11883982 | PA      | $11891094.63  | 0.29%             | 2028-06-15      | Fixed         | 4.91%                 | Yes           |                  2 | On Loan: No      |
| FREED ABS TRUST 2022-4FP                                      | Freedom Financial Series 2022-4FP, Class D                                 | CUSIP: 35634JAD0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |  14520088 | PA      | $14618786.70  | 0.35%             | 2029-12-18      | Fixed         | 7.40%                 | Yes           |                  2 | On Loan: No      |
| AMCR ABS TRUST 2024-A                                         | AMCR ABS Trust Series 2024-A Class B                                       | CUSIP: 00178EAB1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   5000000 | PA      | $5048926.00   | 0.12%             | 2031-08-18      | Fixed         | 6.97%                 | Yes           |                  2 | On Loan: No      |
| United States Treasury Notes                                  | U.S. Treasury Notes 3.625%, Due 05/15/2026                                 | CUSIP: 91282CHB0<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  15000000 | PA      | $14944335.90  | 0.36%             | 2026-05-15      | Fixed         | 3.62%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                      | Government National Mortgage Association Series 2023-154, Class V          | CUSIP: 38384DDS3<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-O            | USGA              | US        |  11099831 | PA      | $11461082.16  | 0.28%             | 2034-07-20      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| COLT 2024-7 MORTGAGE LOAN TRUST                               | COLT Funding, LLC Series 2024-7, Class A1                                  | CUSIP: 19688YAA2<br>LEI: 213800EA95GXXC9AJO50 | Long             | ABS-O            | CORP              | US        |   9081640 | PA      | $9106990.02   | 0.22%             | 2069-12-26      | Variable      | 5.54%                 | Yes           |                  2 | On Loan: No      |
| Nyt Mortgage Trust                                            | NYT Mortgage Trust Series 2019-NYT, Class D                                | CUSIP: 62954PAL4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   2000000 | PA      | $1867447.80   | 0.04%             | 2035-12-15      | Floating      | 6.61%                 | Yes           |                  2 | On Loan: No      |
| CHERRY SECURITIZATION TRUST 2025-1                            | Cherry Securitization Trust Series 2025-1A, Class D                        | CUSIP: 16473RAD6<br>LEI: 213800F9SQ753JQHSW24 | Long             | ABS-O            | CORP              | US        |  14000000 | PA      | $14335892.20  | 0.34%             | 2032-11-15      | Fixed         | 12.69%                | Yes           |                  2 | On Loan: No      |
| Government National Mortgage Association                      | Government National Mortgage Association Series 2024-184, Class PA         | CUSIP: 38384XE33<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-O            | USGA              | US        |   6657174 | PA      | $6880854.85   | 0.17%             | 2054-09-20      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| PFP 2025-12 LTD                                               | PFP III Series 2025-12, Class B                                            | CUSIP: 69382JAC5<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |   5000000 | PA      | $4989690.00   | 0.12%             | 2042-12-18      | Floating      | 6.36%                 | Yes           |                  2 | On Loan: No      |
| United States Treasury Notes                                  | U.S. Treasury Notes 2.25%, Due 02/15/2027                                  | CUSIP: 912828V98<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  10000000 | PA      | $9756250.00   | 0.23%             | 2027-02-15      | Fixed         | 2.25%                 | No            |                  2 | On Loan: No      |
| MF1 2022-FL10 LLC                                             | MF1 Multifamily Housing Mortgage Trust Series 2022-FL10, Class AS          | CUSIP: 55285BAC9<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |  10000000 | PA      | $10002630.00  | 0.24%             | 2037-09-17      | Floating      | 7.50%                 | Yes           |                  2 | On Loan: No      |
| CFMT 2024-HB13 LLC                                            | Cascade Funding Mortgage Trust Series 2024-HB13, Class M2                  | CUSIP: 12530VAC9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   2000000 | PA      | $1892040.20   | 0.05%             | 2034-05-25      | Variable      | 3.00%                 | Yes           |                  2 | On Loan: No      |
| BXMT 2020-FL3 LTD                                             | BXMT Limited Series 2020-FL3, Class D                                      | CUSIP: 05608XAJ1<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |   1250000 | PA      | $1206310.00   | 0.03%             | 2037-11-15      | Floating      | 7.74%                 | Yes           |                  2 | On Loan: No      |
| WOODWARD CAPITAL MANAGEMENT                                   | Woodward Capital Management Series 24-CES3 Class A1A                       | CUSIP: 74942AAA1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |  12748303 | PA      | $12913103.28  | 0.31%             | 2044-05-25      | Variable      | 6.59%                 | Yes           |                  2 | On Loan: No      |
| CP EF ASSET SECURITIZATION II LLC                             | CPF IV, LLC Series 2023-1A, Class A                                        | CUSIP: 224092AA4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   4700104 | PA      | $4749068.81   | 0.11%             | 2032-03-15      | Fixed         | 7.48%                 | Yes           |                  2 | On Loan: No      |
| ACM AUTO TRUST 2024-2                                         | ACM Auto Trust Series 2024-2A, Class B                                     | CUSIP: 00461WAC5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   2900000 | PA      | $2959320.08   | 0.07%             | 2031-08-20      | Fixed         | 9.21%                 | Yes           |                  2 | On Loan: No      |
| ACM AUTO TRUST 2024-1                                         | ACM Auto Trust Series 2024-1A, Class B                                     | CUSIP: 00161CAB4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   4134400 | PA      | $4202884.41   | 0.10%             | 2031-01-21      | Fixed         | 11.40%                | Yes           |                  2 | On Loan: No      |
| ASCENT CAREER FUNDING TRUST 2024-1                            | Ascent Career Funding Trust Series 2024-1A, Class B                        | CUSIP: 04363LAB2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   2700000 | PA      | $2717973.36   | 0.07%             | 2032-10-25      | Fixed         | 9.73%                 | Yes           |                  2 | On Loan: No      |
| CREDIBLYASSET SECURITIZATION II LLC                           | Credibility Asset Securitization Series 2024-1A, Class D                   | CUSIP: 22534NAG3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   4000000 | PA      | $4080861.60   | 0.10%             | 2029-11-15      | Fixed         | 12.45%                | Yes           |                  2 | On Loan: No      |
| JPMorgan Chase Bank, National Association                     | J.P. Morgan Wealth Management Series 2021-CL1, Class M3                    | CUSIP: 46591HBM1<br>LEI: 7H6GLXDRUGQFU57RNE97 | Long             | ABS-O            | CORP              | US        |   1218820 | PA      | $1201149.88   | 0.03%             | 2051-03-25      | Floating      | 6.11%                 | Yes           |                  2 | On Loan: No      |
| ACHV 2023-1PL D MTGE 144A                                     | ACHV ABS Trust Series 2023-4CP, Class C                                    | CUSIP: 00092CAC6<br>LEI: 549300V82ZKZDTAU0A46 | Long             | ABS-O            | CORP              | US        |    177688 | PA      | $178037.06    | 0.00%             | 2030-11-25      | Fixed         | 7.71%                 | Yes           |                  2 | On Loan: No      |
| BREAN ASSET BACKED SECURITIES TRUST                           | Brean Asset Backed Securities Series 2025-RM10, Class A1                   | CUSIP: 10638FAA3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |  17727411 | PA      | $17464377.46  | 0.42%             | 2065-01-25      | Variable      | 5.00%                 | Yes           |                  2 | On Loan: No      |
| ROC MORTGAGE TRUST                                            | ROC Securities Trust Series 2021-RLT1, Class M                             | CUSIP: 77118TAC7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   6745000 | PA      | $6683692.67   | 0.16%             | 2026-08-25      | Fixed         | 5.68%                 | Yes           |                  2 | On Loan: No      |
| ARBOR REALTY COMMERCIAL REAL ESTATE NOTES 2021-FL4 LTD.       | Arbor Realty Collateralized Loan Limited Series 2021-FL4, Class D          | CUSIP: 03880RAJ8<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |  26214900 | PA      | $26025575.99  | 0.63%             | 2036-11-15      | Floating      | 7.33%                 | Yes           |                  2 | On Loan: No      |
| RMF PRPTR ISSN TR 2022-3                                      | RMF Proprietary Issuance Trust Series 2022-3, Class A                      | CUSIP: 74970FAA5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   4465376 | PA      | $4311670.32   | 0.10%             | 2062-08-25      | Variable      | 4.00%                 | Yes           |                  2 | On Loan: No      |
| BREAN ASSET BACKED SECS TR 24-RM8                             | Brean Asset Backed Securities Series 2024-RM8, Class A1                    | CUSIP: 10637YAA3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |  10215972 | PA      | $9978083.64   | 0.24%             | 2064-05-25      | Fixed         | 4.50%                 | Yes           |                  2 | On Loan: No      |
| CONTINENTAL FIN CRC MT TR 20-A                                | Continental Credit Card LLC Series 2021-A, Class C                         | CUSIP: 66981PAF5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |  12500000 | PA      | $12448215.00  | 0.30%             | 2029-12-17      | Fixed         | 4.02%                 | Yes           |                  2 | On Loan: No      |
| Federal National Mortgage Association                         | Federal National Mortgage Association Pool FN BP6608                       | CUSIP: 3140KEKW7<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   1934551 | PA      | $1857541.81   | 0.04%             | 2050-08-01      | Variable      | 2.21%                 | No            |                  2 | On Loan: No      |
| PROGRESS RESIDENTIAL 2024-SFR3                                | Progress Residential Trust Series 2024-SFR3, Class E2                      | CUSIP: 74331VAL0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   2000000 | PA      | $1858334.00   | 0.04%             | 2041-06-17      | Fixed         | 4.00%                 | Yes           |                  2 | On Loan: No      |
| WELLS FARGO COMMERCIAL MORTGAGE TRUST                         | Wells Fargo Mortgage Trust Series 21-SAVE Class B                          | CUSIP: 95003LAG5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   4552000 | PA      | $4549473.64   | 0.11%             | 2040-02-15      | Floating      | 5.98%                 | Yes           |                  2 | On Loan: No      |
| DAILYPAY SECURITIZATION TRUST 2025-1                          | DailyPay Securitization Trust Series 2025-1A, Class A                      | CUSIP: 233824AA9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |  20000000 | PA      | $20141604.00  | 0.48%             | 2028-06-25      | Fixed         | 5.63%                 | Yes           |                  2 | On Loan: No      |
| OPORTUN ISSUANCE TRUST 2025-A                                 | Oportun Funding, LLC Series 2025-A, Class D                                | CUSIP: 68377TAD0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   6500000 | PA      | $6492226.00   | 0.16%             | 2033-02-08      | Fixed         | 7.25%                 | Yes           |                  2 | On Loan: No      |
| OPORTUN ISSUANCE TRUST 2021-C                                 | Oportun Funding LLC Series 2021-C, Class D                                 | CUSIP: 68377WAD3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   3609910 | PA      | $3552447.04   | 0.09%             | 2031-10-08      | Fixed         | 5.57%                 | Yes           |                  2 | On Loan: No      |
| EASY STREET MORTGAGE LOAN TRUST 2025-RTL1                     | Easy 2025-RTL1 Series 25-RTL1 Class A1                                     | CUSIP: 27786FAA7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |  12968000 | PA      | $13103395.00  | 0.31%             | 2040-05-25      | Variable      | 6.46%                 | Yes           |                  2 | On Loan: No      |
| United States Treasury Notes                                  | US Treasury Inflation-Protected Note 0.125%, Due 04/15/2026                | CUSIP: 91282CCA7<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  12231100 | PA      | $12095163.55  | 0.29%             | 2026-04-15      | Fixed         | 0.12%                 | No            |                  2 | On Loan: No      |
| JP Morgan Chase Commercial Mortgage Securities Trust 2025-Bms | JP Morgan Chase Commercial Mortgage Trust Series 2025-BMS, Class D         | CUSIP: 46596CAG1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   9200000 | PA      | $9228212.72   | 0.22%             | 2042-01-15      | Floating      | 7.46%                 | Yes           |                  2 | On Loan: No      |
| POINT SECURITIZATION TRUST 2024-1                             | Point Securitization Trust Series 2024-1, Class A1                         | CUSIP: 73071KAA4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   6322371 | PA      | $6318039.39   | 0.15%             | 2054-06-25      | Fixed         | 6.50%                 | Yes           |                  2 | On Loan: No      |
| ACM AUTO TRUST 2024-2                                         | ACM Auto Trust Series 2024-2A, Class A                                     | CUSIP: 00461WAA9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   2966831 | PA      | $2974690.20   | 0.07%             | 2029-02-20      | Fixed         | 6.06%                 | Yes           |                  2 | On Loan: No      |
| OCWEN LN INVESTMNT TR2024-HB1                                 | Ocwen Loan Investmetn Trust Series 24-HB1 Class M1                         | CUSIP: 675952AB1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   2500000 | PA      | $2371620.75   | 0.06%             | 2037-02-25      | Variable      | 3.00%                 | Yes           |                  2 | On Loan: No      |
| Federal National Mortgage Association                         | Federal National Mortgage Association Series 2011-127 Class ZU             | CUSIP: 3136A2TR4<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-O            | USGSE             | US        |   3630538 | PA      | $3428948.10   | 0.08%             | 2041-12-25      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Fremf 2012 Kf01 Mortgage Trust                                | FREMF Mortgage Trust Series 18-KF43 Class B                                | CUSIP: 30296DAG6<br>LEI: N/A                  | Long             | ABS-O            | USGSE             | US        |   2254710 | PA      | $2175189.56   | 0.05%             | 2028-01-25      | Variable      | 6.17%                 | Yes           |                  2 | On Loan: No      |
| RMF BUYOUT ISSUANCE TRUST                                     | RMF Buyout Issuance Trust Series 2020-HB1, Class M2                        | CUSIP: 76971EAE4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1000000 | PA      | $859805.30    | 0.02%             | 2050-10-25      | Variable      | 3.63%                 | Yes           |                  2 | On Loan: No      |
| Government National Mortgage Association                      | Government National Mortgage Association Series 2025-4, Class MA           | CUSIP: 38385CBT4<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-O            | USGA              | US        |  21885053 | PA      | $22565426.72  | 0.54%             | 2062-01-20      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| FORA FINANCIAL ASSET SECURITIZATION                           | FOR A Financial Asset Securitization Series 2024-1A, Class E               | CUSIP: 34512PAE4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   8947000 | PA      | $8952481.83   | 0.22%             | 2029-08-15      | Fixed         | 15.51%                | Yes           |                  2 | On Loan: No      |
| HIN TIMESHARE TRUST                                           | Holiday Inn Timeshare Trust Series 20-A Class C                            | CUSIP: 40439HAC3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    434357 | PA      | $422773.65    | 0.01%             | 2039-10-09      | Fixed         | 3.42%                 | Yes           |                  2 | On Loan: No      |
| United States Treasury Notes                                  | U.S. Treasury Notes 1.625%, Due 02/15/2026                                 | CUSIP: 912828P46<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  20000000 | PA      | $19685742.20  | 0.47%             | 2026-02-15      | Fixed         | 1.62%                 | No            |                  2 | On Loan: No      |
| FREMF MORTGAGE TRUST                                          | FREMG Mortgage Trust Series 2018-KF50, Class B                             | CUSIP: 35709BAC9<br>LEI: N/A                  | Long             | ABS-O            | USGSE             | US        |   2503081 | PA      | $2399362.77   | 0.06%             | 2028-07-25      | Variable      | 6.33%                 | Yes           |                  2 | On Loan: No      |
| PROGRESS RESIDENTIAL 2025-SFR1 TRUS                           | Progress Residential Trust Series 25-SFR1 Class E2                         | CUSIP: 74334NAL5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |  11000000 | PA      | $9944260.70   | 0.24%             | 2042-02-17      | Fixed         | 3.75%                 | Yes           |                  2 | On Loan: No      |
| LHOME MTG TR 2024-RTL1                                        | LHOME Mortgage Trust Series 2024-RTL1, Class A2                            | CUSIP: 50205DAB5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   2500000 | PA      | $2523019.00   | 0.06%             | 2029-01-25      | Fixed         | 9.16%                 | Yes           |                  2 | On Loan: No      |
| LHOME MTG TR 2025-RTL1                                        | LHOME Mortgage Trust Series 2025-RTL1, Class M2                            | CUSIP: 50205UAD3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   3750000 | PA      | $3704609.25   | 0.09%             | 2040-01-25      | Variable      | 8.38%                 | Yes           |                  2 | On Loan: No      |
| U S Bank National Assn Minneapolis Minnesota                  | US Bank National Association Series 2023-1, Class B                        | CUSIP: 90357PAV6<br>LEI: 6BYL5QZYBDK8S7L73M02 | Long             | ABS-O            | CORP              | US        |    892401 | PA      | $902954.11    | 0.02%             | 2032-08-25      | Fixed         | 6.79%                 | Yes           |                  2 | On Loan: No      |
| BREAN ASSET BACKED SECURITIES TRUST                           | Brean Asset Backed Securities Series 2023-SRM1, Class M3                   | CUSIP: 10638RAD1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   4288108 | PA      | $3808572.91   | 0.09%             | 2063-09-25      | Fixed         | 4.00%                 | Yes           |                  2 | On Loan: No      |
| RESEARCH-DRIVEN PAGAYA MOTOR ASSET TRUST 2025-1               | Research-Driven Pagaya Motor Asset Trust Series 2025-1A, Class B           | CUSIP: 76089YAB5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |  21000000 | PA      | $20965350.00  | 0.50%             | 2033-06-27      | Fixed         | 6.02%                 | Yes           |                  2 | On Loan: No      |
| RESEARCH-DRIVEN PAGAYA MOTOR ASSET TRUST 2024-1               | Research-Drive Pagaya Motor Asset Trust I Series 2024-1A, Class B          | CUSIP: 76088YAB6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   3889965 | PA      | $3939411.81   | 0.09%             | 2032-06-25      | Fixed         | 7.96%                 | Yes           |                  2 | On Loan: No      |
| RFT TRUST 2024-2                                              | Redwood Funding Trust Series 2024-2, Class A1                              | CUSIP: 76201AAC8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |  23607098 | PA      | $23534813.14  | 0.57%             | 2028-09-27      | Fixed         | 7.11%                 | Yes           |                  2 | On Loan: No      |
| RESEARCH-DRIVEN PAGAYA MOTOR ASSET TRUST 2024-1               | Research-Drive Pagaya Motor Asset Trust I Series 2024-1A, Class A          | CUSIP: 76088YAA8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   8750848 | PA      | $8826352.27   | 0.21%             | 2032-06-25      | Fixed         | 7.09%                 | Yes           |                  2 | On Loan: No      |
| PURCHASING FDG LLC 2024-A                                     | Purchasing Power Funding Series 2024-A, Class C                            | CUSIP: 745935AC0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   8820000 | PA      | $8887854.02   | 0.21%             | 2028-08-15      | Fixed         | 6.80%                 | Yes           |                  2 | On Loan: No      |
| LENDINGPOINT 2022-C ASSET SECURITIZ                           | LendingPoint Asset Securitization Series 2022-C, Class D                   | CUSIP: 525919AD8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   4920000 | PA      | $836386.72    | 0.02%             | 2030-02-15      | Fixed         | 10.73%                | Yes           |                  2 | On Loan: No      |
| UPGRADE MSTR TR 25-ST2                                        | Upgrade Master Pass-Thru Trust Series 2025-ST2, Class A                    | CUSIP: 91534JAB8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |  17297100 | PA      | $17444836.26  | 0.42%             | 2032-06-15      | Fixed         | 6.11%                 | Yes           |                  2 | On Loan: No      |
| ACRE COMMERCIAL MORTGAGE 2021-FL4 LTD                         | Acre Mortgage Trust Series 2021-FL4, Class D                               | CUSIP: 00489TAJ5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   6000000 | PA      | $5891052.00   | 0.14%             | 2037-12-18      | Floating      | 7.53%                 | Yes           |                  2 | On Loan: No      |
| CREDIBLYASSET SECURITIZATION II LLC                           | Credibility Asset Securitization Series 2024-1A, Class A                   | CUSIP: 22534NAD0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   9000000 | PA      | $9109855.80   | 0.22%             | 2029-11-15      | Fixed         | 6.44%                 | Yes           |                  2 | On Loan: No      |
| HERA COMMERCIAL MORTGAGE 2021-FL1 L                           | HERA Commerical Mortgage Ltd. Series 2021-FL1, Class C                     | CUSIP: 42704RAG6<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |  10000000 | PA      | $9876630.00   | 0.24%             | 2038-02-18      | Floating      | 6.38%                 | Yes           |                  2 | On Loan: No      |
| Mosaic Solar Loan Trust 2020-1                                | Mosaic Solar Loans LLC Series 2020-1A, Class B                             | CUSIP: 61946NAB4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    833055 | PA      | $731315.03    | 0.02%             | 2046-04-20      | Fixed         | 3.10%                 | Yes           |                  2 | On Loan: No      |
| LENDING FUNDING TRUST                                         | Lendmark Funding Trust Series 2020-2A, Class B                             | CUSIP: 51507KAB2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   2000000 | PA      | $1945076.40   | 0.05%             | 2031-04-21      | Fixed         | 3.54%                 | Yes           |                  2 | On Loan: No      |
| Royal Bank of Canada                                          | Royal Bank of Canada 4.522%, Due 10/18/2028                                | CUSIP: 78017FZS5<br>LEI: ES7IP3U3RHIGC71XBU11 | Long             | DBT              | CORP              | US        |    500000 | PA      | $502069.66    | 0.01%             | 2028-10-18      | Fixed         | 4.52%                 | No            |                  2 | On Loan: —       |
| INTOWN MTG TR 2025-STAY                                       | INTOWN Mortgage Trust Series 2025-STAY, Class D                            | CUSIP: 46117WAG7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |  13620000 | PA      | $13577437.50  | 0.33%             | 2042-03-15      | Floating      | 7.16%                 | Yes           |                  2 | On Loan: No      |
| TRICOLOR AUTO SECURITIZATION TRUST                            | Tricolor Auto Securitization Trust Series 2024-2A, Class A                 | CUSIP: 89616PAA1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1766460 | PA      | $1771921.43   | 0.04%             | 2027-12-15      | Fixed         | 6.36%                 | Yes           |                  2 | On Loan: No      |
| 5 Bryant Park 2018-5bp Mortga                                 | DBGS Mortgage Trust Series 15-5BP Class D                                  | CUSIP: 33830CAG5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   2000000 | PA      | $1745000.00   | 0.04%             | 2033-06-15      | Floating      | 5.93%                 | Yes           |                  2 | On Loan: No      |
| MF1 2024-FL15 LLC                                             | MF1 Multifamily Housing Mortgage Loan Trust Series 2024-FL15, Class C      | CUSIP: 58003MAG1<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |   7500000 | PA      | $7511422.50   | 0.18%             | 2041-08-18      | Variable      | 7.25%                 | Yes           |                  2 | On Loan: No      |
| LOBEL AUT RECEIVABLES 2023-2                                  | Lobel Automobile Receivables Trust Series 2023-2, Class A                  | CUSIP: 53949FAA7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    328571 | PA      | $329087.23    | 0.01%             | 2029-04-16      | Fixed         | 7.59%                 | Yes           |                  2 | On Loan: No      |
| ACHV ABS TRUST 2023-3PL                                       | ACHV ABS Trust Series 23-3PL Class D                                       | CUSIP: 000876AD4<br>LEI: 549300V82ZKZDTAU0A46 | Long             | ABS-O            | CORP              | US        |   1750000 | PA      | $1776797.23   | 0.04%             | 2030-08-19      | Fixed         | 8.36%                 | Yes           |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corp.                              | MultiFamily Structured Credit Series 2024-MN9, Class B1                    | CUSIP: 355917AC9<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-O            | USGA              | US        |   2375000 | PA      | $2452678.65   | 0.06%             | 2044-10-25      | Floating      | 10.31%                | Yes           |                  2 | On Loan: No      |
| Capital One, National Association                             | Discover Bank 3.45%, Due 07/27/2026                                        | CUSIP: 25466AAJ0<br>LEI: 207ALC1P1YM0OVDV0K75 | Long             | DBT              | CORP              | US        |    801000 | PA      | $792131.73    | 0.02%             | 2026-07-27      | Fixed         | 3.45%                 | No            |                  2 | On Loan: No      |
| U.S. Bancorp.                                                 | US Bankcorp 6.787%, Due 10/26/2027                                         | CUSIP: 91159HJP6<br>LEI: N1GZ7BBF3NP8GI976H15 | Long             | DBT              | CORP              | US        |    900000 | PA      | $926479.57    | 0.02%             | 2027-10-26      | Fixed         | 6.79%                 | No            |                  2 | On Loan: No      |
| BREAN ASSET BACKED SECURITIES TRUST                           | Brean Asset Backed Securities Series 2023-SRM1, Class M2                   | CUSIP: 10638RAC3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   5092128 | PA      | $4761594.37   | 0.11%             | 2063-09-25      | Fixed         | 4.00%                 | Yes           |                  2 | On Loan: No      |
| CONTINENTAL FIN CRC MT TR 20-A                                | Continental Finance Credit Card LLC Series 24-A Class D                    | CUSIP: 66981PAT5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   6500000 | PA      | $6563125.40   | 0.16%             | 2032-12-15      | Fixed         | 9.42%                 | Yes           |                  2 | On Loan: No      |
| MF1 2021-FL6 LTD                                              | MF1 Multifamily Housing Mortgage Loan Trust Series 2021-FL6, Class AS      | CUSIP: 55283TAC2<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |   6000000 | PA      | $5983344.00   | 0.14%             | 2036-07-16      | Floating      | 5.88%                 | Yes           |                  2 | On Loan: No      |
| FREMF MORTGAGE TRUST                                          | Freedom Mortgage Trust Series 2018-KF53, Class B                           | CUSIP: 35708AAG3<br>LEI: N/A                  | Long             | ABS-O            | USGSE             | US        |   2133604 | PA      | $2123138.85   | 0.05%             | 2025-10-25      | Variable      | 6.48%                 | Yes           |                  2 | On Loan: No      |
| LHOME MTG TR 2024-RTL3                                        | LHOME Mortgage Trust Series 2024-RTL3, Class A2                            | CUSIP: 50205GAA0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |  26000000 | PA      | $26298053.60  | 0.63%             | 2029-05-25      | Fixed         | 6.89%                 | Yes           |                  2 | On Loan: No      |
| MOSAIC SOLAR LOAN TRUST 2023-1                                | Mosaic Solar Loans, LLC Series 2023-1A, Class A                            | CUSIP: 61945VAA9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   4651031 | PA      | $4410105.99   | 0.11%             | 2053-06-20      | Fixed         | 5.32%                 | Yes           |                  2 | On Loan: No      |
| Government National Mortgage Association                      | Government National Mortgage Association Pool DH9776                       | CUSIP: 3618KJ2H4<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |  36282600 | PA      | $37222433.00  | 0.89%             | 2065-03-20      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| TVC MORTGAGE TRUST 2024-RRTL1                                 | TVC Mortgage Trust Series 2024-RRTL1, Class A1                             | CUSIP: 87306WAA5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |  16000000 | PA      | $15983336.00  | 0.38%             | 2039-07-25      | Variable      | 5.54%                 | Yes           |                  2 | On Loan: No      |
| BREAN ASSET BACKED SECURITIES TRUST                           | Brean Asset Backed Securites Series 22-RM4 Class M1                        | CUSIP: 10638JAD9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1523697 | PA      | $1365202.76   | 0.03%             | 2062-07-25      | Fixed         | 3.00%                 | Yes           |                  2 | On Loan: No      |
| FIRSTKEY HOMES TRUST                                          | Firstkey Homes Trust Series 2020-SFR1, Class A                             | CUSIP: 33767MAA3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |  42470972 | PA      | $42166289.59  | 1.01%             | 2037-08-17      | Fixed         | 1.34%                 | Yes           |                  2 | On Loan: No      |
| Federal National Mortgage Association                         | Federal National Mortgage Association Series 2006-108 Class FD             | CUSIP: 31396LTA8<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-O            | USGSE             | US        |    140214 | PA      | $138725.96    | 0.00%             | 2036-11-25      | Floating      | 4.80%                 | No            |                  2 | On Loan: No      |
| LHOME MTG TR 2024-RTL1                                        | LHOME Mortgage Trust Series 2024-RTL1, Class M                             | CUSIP: 50205DAC3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   2250000 | PA      | $2273826.83   | 0.05%             | 2029-01-25      | Fixed         | 11.95%                | Yes           |                  2 | On Loan: No      |
| Federal National Mortgage Association                         | Federal National Mortgage Association Series 2013-34 Class GP              | CUSIP: 3136ADQF9<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-O            | USGSE             | US        |   1742995 | PA      | $1665190.71   | 0.04%             | 2042-05-25      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| DIAMOND RESORTS OWNER TRUST                                   | Diamond Resorts Owner Trust Series 2021-1A, Class B                        | CUSIP: 25273CAB6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    546876 | PA      | $543955.39    | 0.01%             | 2033-11-21      | Fixed         | 2.05%                 | Yes           |                  2 | On Loan: No      |
| OPORTUN ISSUANCE TRUST 2021-C                                 | Oportun Funding LLC Series 2021-C, Class B                                 | CUSIP: 68377WAB7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   7478699 | PA      | $7315148.48   | 0.18%             | 2031-10-08      | Fixed         | 2.67%                 | Yes           |                  2 | On Loan: No      |
| PAGAYA AI DEBT GRANTOR TRUST 2024-1                           | Pagaya AI Debt Selection Trust Series 24-11 Class D                        | CUSIP: 69544AAD7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |  15573211 | PA      | $15598410.03  | 0.37%             | 2032-07-15      | Fixed         | 6.31%                 | Yes           |                  2 | On Loan: No      |
| STREAM INNOV ISSUE TR 2024-1                                  | Stream Innovations Issuer Trust Series 2024-1A, Class A                    | CUSIP: 86324CAA9<br>LEI: 7437000ZP669LKUTZ738 | Long             | ABS-O            | CORP              | US        |   6000099 | PA      | $6229442.91   | 0.15%             | 2044-07-15      | Fixed         | 6.27%                 | Yes           |                  2 | On Loan: No      |
| Government National Mortgage Association                      | Government National Mortgage Association Series 2023-112, Class ET         | CUSIP: 38384CW21<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-O            | USGA              | US        |  13962711 | PA      | $15132975.96  | 0.36%             | 2063-08-20      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| Tricon American Homes 2019-Sfr1                               | Tricon American Homes Series 2019-SFR1, Class E                            | CUSIP: 89612LAE6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   4000000 | PA      | $3953265.60   | 0.10%             | 2038-03-17      | Fixed         | 3.40%                 | Yes           |                  2 | On Loan: No      |
| Tricon American Homes 2019-Sfr1                               | Tricon American Homes Series 2019-SFR1, Class F                            | CUSIP: 89612LAF3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   3000000 | PA      | $2953856.70   | 0.07%             | 2038-03-17      | Fixed         | 3.75%                 | Yes           |                  2 | On Loan: No      |
| BREAN ASSET BACKED SECURITIES TRUST                           | Brean Asset Backed Securities Series 2023-RM7, Class A1                    | CUSIP: 10638BAA2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   6703310 | PA      | $6550149.12   | 0.16%             | 2078-03-25      | Fixed         | 4.50%                 | Yes           |                  2 | On Loan: No      |
| ACHV 2023-1PL D MTGE 144A                                     | ACHV ABS Trust Series 2023-4CP, Class E                                    | CUSIP: 00092CAE2<br>LEI: 549300V82ZKZDTAU0A46 | Long             | ABS-O            | CORP              | US        |   3000000 | PA      | $3093358.50   | 0.07%             | 2030-11-25      | Fixed         | 10.50%                | Yes           |                  2 | On Loan: No      |
| College Avenue Student Loans 2021-A Llc                       | College Ave Student Loans Series 21-A Class D                              | CUSIP: 19424KAE3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    592807 | PA      | $557157.50    | 0.01%             | 2051-07-25      | Fixed         | 4.12%                 | Yes           |                  2 | On Loan: No      |
| REGIONAL MANAGEMENT ISSUANCE TRUST                            | Regional Management Issuance Series 21-1 Class C                           | CUSIP: 75907VAC1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   4650000 | PA      | $4591077.53   | 0.11%             | 2031-03-17      | Fixed         | 3.04%                 | Yes           |                  2 | On Loan: No      |
| FIRSTKEY HOMES TRUST                                          | FirstKey Homes Trust Series 2020-SFR1, Class D                             | CUSIP: 33767MAG0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   3000000 | PA      | $2977737.60   | 0.07%             | 2037-08-17      | Fixed         | 2.24%                 | Yes           |                  2 | On Loan: No      |
| JPMorgan Chase Bank, National Association                     | Chase Mortgage Finance Corporation Series 21-CL1 Class M3                  | CUSIP: 46591HBZ2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1903867 | PA      | $1797363.04   | 0.04%             | 2050-02-25      | Floating      | 5.87%                 | No            |                  2 | On Loan: No      |
| United States Treasury Notes                                  | U.S. Treasury Notes 3.875%, Due 10/15/2027                                 | CUSIP: 91282CLQ2<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  20000000 | PA      | $20069531.20  | 0.48%             | 2027-10-15      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| EASY STREET MORTGAGE LOAN TRUST 2025-RTL1                     | Easy 2025-RTL1 Series 25-RTL1 Class A2                                     | CUSIP: 27786FAB5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   4950000 | PA      | $4973892.17   | 0.12%             | 2040-05-25      | Variable      | 8.30%                 | Yes           |                  2 | On Loan: No      |
| PRODIGY FINANCE CM2021-1 DESIGNATED                           | Prodigy Finance Series 2021-1A, Class A                                    | CUSIP: 742855AA7<br>LEI: 635400HTAZNW3LYYMQ40 | Long             | ABS-O            | CORP              | US        |    418417 | PA      | $418015.84    | 0.01%             | 2051-07-25      | Floating      | 5.68%                 | Yes           |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corp.                              | Federal Home Loan Mortgage Corporation Pool #G60257                        | CUSIP: 31335AJA7<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    283643 | PA      | $292055.46    | 0.01%             | 2041-06-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| VEROS AUTO REC TR 2023-1                                      | Veros Auto Receivables Trust Series 2023-1, Class A                        | CUSIP: 924933AA2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    255358 | PA      | $255689.58    | 0.01%             | 2028-11-15      | Fixed         | 7.12%                 | Yes           |                  2 | On Loan: No      |
| PAGAYA POINT OF SALE HOLDINGS GRANTOR TRUST 2025-1            | Pagaya Point of Sale Holdings Series 25-1 Class A                          | CUSIP: 694952AA0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |  14400000 | PA      | $14487124.32  | 0.35%             | 2034-01-20      | Fixed         | 5.71%                 | Yes           |                  2 | On Loan: No      |
| Alaska Airlines Pass Through Trust 2020-1A                    | ALASKA AIRLINES 4.8%, DUE 02/15/2029                                       | CUSIP: 01166VAA7<br>LEI: PG4W4UTDTMMEBRGLO537 | Long             | ABS-O            | CORP              | US        |    323626 | PA      | $323842.01    | 0.01%             | 2029-02-15      | Fixed         | 4.80%                 | Yes           |                  2 | On Loan: No      |
| BREAN ASSET BACKED SECURITIES TRUST                           | Brean Asset Backed Securities Series 2023-RM7, Class M1                    | CUSIP: 10638BAD6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   4157747 | PA      | $3825720.95   | 0.09%             | 2078-03-25      | Fixed         | 4.50%                 | Yes           |                  2 | On Loan: No      |
| FHF ISSUER TRUST 2023-2                                       | First Help Financial LLC Series 2023-2A, Class D                           | CUSIP: 30333LAE8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   4500000 | PA      | $4834605.60   | 0.12%             | 2030-10-15      | Fixed         | 9.50%                 | Yes           |                  2 | On Loan: No      |
| RMF PROP ISS TR 2022-1                                        | RMF Proprietary Issuance Trust Series 2022-1, Class A1                     | CUSIP: 74969XAA9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1923549 | PA      | $1770368.97   | 0.04%             | 2062-01-25      | Variable      | 3.00%                 | Yes           |                  2 | On Loan: No      |
| HIN TIMESHARE TRUST                                           | Holiday Inn Timeshare Trust Series 20-A Class D                            | CUSIP: 40439HAD1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    202027 | PA      | $196652.54    | 0.00%             | 2039-10-09      | Fixed         | 5.50%                 | Yes           |                  2 | On Loan: No      |
| PAGAYA AI DEBT TRUST 2025-1                                   | Pagaya AI Debt Selection Trust Series 2025-1, Class E                      | CUSIP: 69548VAA3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   6999402 | PA      | $7063907.43   | 0.17%             | 2032-07-15      | Fixed         | 10.08%                | Yes           |                  2 | On Loan: No      |
| Government National Mortgage Association                      | Government National Mortgage Association Pool G2 CW0526                    | CUSIP: 3618F8SP8<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   1532508 | PA      | $1572231.71   | 0.04%             | 2063-08-20      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| JP Morgan Chase Commercial Mortgage Securities Trust 2025-Bms | JP Morgan Chase Commerical Mortgage Trust Series 2025-BMS, Class C         | CUSIP: 46596CAE6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   4680000 | PA      | $4664413.26   | 0.11%             | 2042-01-15      | Floating      | 6.71%                 | Yes           |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corp.                              | Federal Home Loan Mortgage Corporation Pool FR QG9458                      | CUSIP: 3133CAQK9<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGA              | US        |   6583528 | PA      | $6878328.30   | 0.17%             | 2053-08-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| RFS ASSET SECURITIZATION II LLC                               | RFS Asset Securitization II LLC Series 2024-1, Class E                     | CUSIP: 74969DAQ8<br>LEI: 335800KGU1WWBLMPTP11 | Long             | ABS-O            | CORP              | US        |   5565000 | PA      | $5613741.61   | 0.13%             | 2031-07-15      | Fixed         | 14.78%                | Yes           |                  2 | On Loan: No      |
| BX COMMERCIAL MORTGAGE TRUST                                  | BX Commercial Mortgage Trust 2021-VOLT Class B                             | CUSIP: 05609VAG0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   5394435 | PA      | $5372520.11   | 0.13%             | 2036-09-15      | Floating      | 5.39%                 | Yes           |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corp.                              | Multifamily Structured Credit Risk Series 2021-MN2, Class M2               | CUSIP: 35563JAB9<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-O            | USGA              | US        |  33250000 | PA      | $33250169.58  | 0.80%             | 2041-07-25      | Floating      | 7.86%                 | Yes           |                  2 | On Loan: No      |
| Government National Mortgage Association                      | Government National Mortgage Association Series 2016-H11 Class FD          | CUSIP: 38375UWR7<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-O            | USGA              | US        |     35822 | PA      | $36097.12     | 0.00%             | 2066-05-20      | Variable      | 5.08%                 | No            |                  2 | On Loan: No      |
| UNLOCK HEA TRUST 2025-1                                       | Unlock HEA Trust Series 2025-1, Class A                                    | CUSIP: 91528BAA5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |  19000000 | PA      | $18857940.80  | 0.45%             | 2041-07-25      | Fixed         | 6.75%                 | Yes           |                  2 | On Loan: No      |
| ARIVO ACCEPTANCE AUTO LOAN RECEIVABLES TRUST 2022-2           | Arivo Acceptance Auto Loan Receivables Trust Series 2022-2A, Class C       | CUSIP: 04047JAC9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   5700000 | PA      | $5924334.33   | 0.14%             | 2029-03-15      | Fixed         | 9.84%                 | Yes           |                  2 | On Loan: No      |
| SALUDA GRADE ALTERNATIVE MORTGAGE T                           | Saluda Grade Alternative Mortgage Trust Series 2025-NPL1, Class A2         | CUSIP: 79582BAB1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   7785000 | PA      | $7810636.01   | 0.19%             | 2030-01-25      | Variable      | 9.05%                 | Yes           |                  2 | On Loan: No      |
| LHOME MORTGAGE TRUST 2023-RTL1                                | LHOME Mortgage Trust Series 2023-RTL1, Class A1                            | CUSIP: 50205NAA5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1895121 | PA      | $1894998.19   | 0.05%             | 2028-01-25      | Fixed         | 7.87%                 | Yes           |                  2 | On Loan: No      |
| UNLOCK HEA TRUST 2024-2                                       | Unlock HEA Trust Series 24-2 Class A                                       | CUSIP: 91528AAA7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |  18966493 | PA      | $18865238.44  | 0.45%             | 2039-10-25      | Fixed         | 6.50%                 | Yes           |                  2 | On Loan: No      |
| MERCURY FINANCIAL CREDIT CARD MASTER TRUST                    | Mercury Financial Credit Card Master Trust Series 2024-2A, Class D         | CUSIP: 58940BBD7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |  16000000 | PA      | $16261753.60  | 0.39%             | 2029-07-20      | Fixed         | 14.13%                | Yes           |                  2 | On Loan: No      |
| ARIVO ACCEPTANCE AUTO LOAN RECEIVABLES TRUST 2024-1           | Arivo Acceptance Auto Loan Receivables Trust Series 2024-1A, Class A       | CUSIP: 039943AA3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   4601359 | PA      | $4633437.51   | 0.11%             | 2028-04-17      | Fixed         | 6.46%                 | Yes           |                  2 | On Loan: No      |
| AMCR ABS TRUST 2023-1                                         | AMCR ABS Trust Series 2023-1A, Class B                                     | CUSIP: 00178CAB5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |  12930487 | PA      | $13062990.74  | 0.31%             | 2031-01-21      | Fixed         | 8.70%                 | Yes           |                  2 | On Loan: No      |
| GCAT 2023-NQM4 TRUST                                          | GCAT Series 2023-NQM4, Class A1                                            | CUSIP: 36171FAA1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |  15462292 | PA      | $14678682.88  | 0.35%             | 2067-05-25      | Variable      | 4.25%                 | Yes           |                  2 | On Loan: No      |
| CROCKETT PARTNERS EQUIPMENT COMPANY IIA LLC                   | Crockett Partners Equipment Company Series 2024-1C, Class B                | CUSIP: 22689LAB1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   3166667 | PA      | $3225097.75   | 0.08%             | 2031-01-20      | Fixed         | 6.78%                 | Yes           |                  2 | On Loan: No      |
| Home Partners Of America Trust 2019-1                         | Home Partners of America Trust Series 2019-1, Class B                      | CUSIP: 43731QAC2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   2286543 | PA      | $2199329.45   | 0.05%             | 2039-09-17      | Fixed         | 3.16%                 | Yes           |                  2 | On Loan: No      |
| FHF TRUST 2021-2                                              | First Help Financial LLC Series 21-2A Class A                              | CUSIP: 30322JAC0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |  10082724 | PA      | $10017882.17  | 0.24%             | 2027-09-15      | Fixed         | 1.63%                 | Yes           |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corp.                              | Federal Home Loan Mortgage Corporation Pool FR QG9457                      | CUSIP: 3133CAQJ2<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGA              | US        |   2530480 | PA      | $2641194.55   | 0.06%             | 2053-08-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| OPORTUN FUNDING TR 2024-3                                     | Opportun Funding, LLC Series 2024-3, Class D                               | CUSIP: 68377NAD3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   8300000 | PA      | $8602484.37   | 0.21%             | 2029-08-15      | Fixed         | 9.60%                 | Yes           |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corp.                              | Federal Home Loan Mortgage Corporation Series 3925 Class FL                | CUSIP: 3137AFGG1<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-O            | USGSE             | US        |     23282 | PA      | $23251.01     | 0.00%             | 2041-01-15      | Floating      | 4.87%                 | No            |                  2 | On Loan: No      |
| Pagaya Point of Sale Holdings Trust 2025-1                    | Pagaya Point of Sale Holdings Series 25-1 Class E                          | CUSIP: 694951AA2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   2650000 | PA      | $2697691.26   | 0.06%             | 2034-01-20      | Fixed         | 11.28%                | Yes           |                  2 | On Loan: No      |
| American Express Company                                      | American Express Company 6.338%, Due 10/30/2026                            | CUSIP: 025816DL0<br>LEI: R4PP93JZOLY261QX3811 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $1005860.04   | 0.02%             | 2026-10-30      | Fixed         | 6.34%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                      | Government National Mortgage Association Pool G2 CM7497                    | CUSIP: 3617YTKJ5<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   4457364 | PA      | $4380502.95   | 0.11%             | 2052-08-20      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PROGRESS RESIDENTIAL 2024-SFR5 TRUST                          | Progress Residential Trust Series 2024-SFR5, Class E1                      | CUSIP: 74332HAJ5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |  22681000 | PA      | $20613193.64  | 0.50%             | 2029-08-09      | Fixed         | 3.38%                 | Yes           |                  2 | On Loan: No      |
| UNLOCK HEA TRUST 2024-1                                       | Unlock HEA Trust Series 24-1 Class A                                       | CUSIP: 91530QAA8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |  10873549 | PA      | $10912096.76  | 0.26%             | 2039-04-25      | Fixed         | 7.00%                 | Yes           |                  2 | On Loan: No      |
| OPORTUN ISSUANCE TRUST 2025-B                                 | Oportun Funding, LLC Series 2025-B, Class E                                | CUSIP: 68378QAE3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   7250000 | PA      | $7225906.08   | 0.17%             | 2033-05-09      | Fixed         | 9.40%                 | Yes           |                  2 | On Loan: No      |
| CFMT 2024-HB13 LLC                                            | Cascade Funding Mortgage Trust Series 2024-HB13, Class M3                  | CUSIP: 12530VAD7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1500000 | PA      | $1397585.85   | 0.03%             | 2034-05-25      | Variable      | 3.00%                 | Yes           |                  2 | On Loan: No      |
| KAPITUS ASSET SECURITIZATION IV LLC                           | Kapitus Asset Securitization LLC Series 2024-1A, Class 1A                  | CUSIP: 48555MAE9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  11000000 | PA      | $10987537.00  | 0.26%             | 2031-09-10      | Fixed         | 5.49%                 | Yes           |                  2 | On Loan: No      |
| DEXT ABS                                                      | Dext ABS Series 2023-2, Class D                                            | CUSIP: 25216CAE0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   2120000 | PA      | $2263955.00   | 0.05%             | 2034-05-15      | Fixed         | 8.30%                 | Yes           |                  2 | On Loan: No      |
| ARIVO ACCEPTANCE AUTO LOAN RECEIVABLES TRUST 2024-1           | Arivo Acceptance Auto Loan Receivables Trust Series 2024-1A, Class B       | CUSIP: 039943AB1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   2200000 | PA      | $2253468.14   | 0.05%             | 2030-06-17      | Fixed         | 6.87%                 | Yes           |                  2 | On Loan: No      |
| College Avenue Student Loans 2021-A Llc                       | College Ave Student Loans Series 21-A Class B                              | CUSIP: 19424KAC7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1156274 | PA      | $1063065.88   | 0.03%             | 2051-07-25      | Fixed         | 2.32%                 | Yes           |                  2 | On Loan: No      |
| HOMEWARD OPPORTUNITIES FUND TRUST 2024-RTL1                   | Homeward Opportunities Funding Trust Series 2024-RTL1, Class A2            | CUSIP: 43789FAB9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   5000000 | PA      | $5024711.00   | 0.12%             | 2029-07-25      | Fixed         | 8.57%                 | Yes           |                  2 | On Loan: No      |
| RMF PRPTR ISSN TR 2022-3                                      | RMF Proprietary Issuance Trust Series 2022-3, Class M1                     | CUSIP: 74970FAB3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   5900000 | PA      | $5418116.91   | 0.13%             | 2062-08-25      | Variable      | 4.00%                 | Yes           |                  2 | On Loan: No      |
| BX TRUST 2025-VLT6                                            | BX Trust Series 2025-VLT6, Class B                                         | CUSIP: 12433KAC1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   3645000 | PA      | $3640770.34   | 0.09%             | 2042-03-15      | Floating      | 6.20%                 | Yes           |                  2 | On Loan: No      |
| CFMT 2024-HB15 LLC                                            | Cascade Funding Mortgage Trust Series 2024-HB15, Class M4                  | CUSIP: 15723AAF8<br>LEI: 98450050957GF5E1CD92 | Long             | ABS-O            | CORP              | US        |   6000000 | PA      | $5431679.40   | 0.13%             | 2034-08-25      | Variable      | 4.00%                 | Yes           |                  2 | On Loan: No      |
| MERCHANTS FLEET FUNDING LLC                                   | Merchants Fleet Funding LLC Series 2024-1A, Class E                        | CUSIP: 588926AK1<br>LEI: 254900Z2OOQUA5IN2X83 | Long             | ABS-O            | CORP              | US        |   3000000 | PA      | $3042713.40   | 0.07%             | 2037-04-02      | Fixed         | 9.35%                 | Yes           |                  2 | On Loan: No      |
| POWERPAY ISSUANCE TRUST 2024-1                                | PowerPay Issuance Trust Series 2024-1A, Class A                            | CUSIP: 73934RAA6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   3682645 | PA      | $3779262.49   | 0.09%             | 2039-02-18      | Fixed         | 6.53%                 | Yes           |                  2 | On Loan: No      |
| OPORTUN ISSUANCE TR 2022-A                                    | Opportunity Funding LLC Series 2022-A, Class D                             | CUSIP: 68378NAD2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   2500000 | PA      | $2504114.00   | 0.06%             | 2031-06-09      | Fixed         | 8.50%                 | Yes           |                  2 | On Loan: No      |
| PROGRESS RES TR 2023                                          | Progress Residential Trust Series 2023-SFR2, Class E1                      | CUSIP: 74331GAJ8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   3141000 | PA      | $3046585.00   | 0.07%             | 2040-10-17      | Fixed         | 4.75%                 | Yes           |                  2 | On Loan: No      |
| CFMT 2024-HB14 LLC                                            | Cascade Funding Mortgage Trust Series 2024-HB14, Class M1                  | CUSIP: 12530XAB7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   7500000 | PA      | $7168905.75   | 0.17%             | 2034-06-25      | Variable      | 3.00%                 | Yes           |                  2 | On Loan: No      |
| BREAN ASSET BACKED SECS TR 24-RM8                             | Brean Asset Backed Securities Series 2024-RM8, Class M2                    | CUSIP: 10637YAE5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1573813 | PA      | $1373758.93   | 0.03%             | 2064-05-25      | Fixed         | 4.50%                 | Yes           |                  2 | On Loan: No      |
| RMF PROPRIETORY ISSUANCE TRUST                                | RMF Proprietary Issuance Trust Series 2021-2, Class A                      | CUSIP: 74969VAA3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   8838582 | PA      | $8122941.91   | 0.20%             | 2061-09-25      | Fixed         | 2.12%                 | Yes           |                  2 | On Loan: No      |
| ROC MORTGAGE TRUST 2025-RTL1                                  | ROC Securities Trust Series 2025-RTL1, Class A1                            | CUSIP: 77119RAA4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |  25000000 | PA      | $25051660.00  | 0.60%             | 2040-02-25      | Variable      | 5.62%                 | Yes           |                  2 | On Loan: No      |
| LIFE FINANCIAL SERVICES TRUST                                 | Life Financial Services Trust Series 2021-BMR, Class D                     | CUSIP: 53218CAG5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   5344500 | PA      | $5304416.25   | 0.13%             | 2038-03-15      | Floating      | 5.83%                 | Yes           |                  2 | On Loan: No      |
| Government National Mortgage Association                      | Government National Mortgage Assocation Series 2024-42, Class DV           | CUSIP: 38384KJA0<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-O            | USGA              | US        |   7226333 | PA      | $7381007.96   | 0.18%             | 2035-01-20      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| RMF BUYOUT ISSUANCE TRUST 2021-HB1                            | RMF Buyout Issuance Trust Series 2021-HB1, Class M3                        | CUSIP: 74969TAD2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   3000000 | PA      | $2837029.50   | 0.07%             | 2031-11-25      | Variable      | 3.69%                 | Yes           |                  2 | On Loan: No      |
| TRICOLOR AUTO SECURITIZATION TRUST                            | Tricolor Auto Securitization Trust Series 2024-1A, Class A                 | CUSIP: 89616LAA0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1568795 | PA      | $1575987.20   | 0.04%             | 2027-10-15      | Fixed         | 6.61%                 | Yes           |                  2 | On Loan: No      |
| FREMF MTG TR 2016-K1502                                       | FREMF Mortgage Trust Series 2019-KF67, Class B                             | CUSIP: 30298NAG2<br>LEI: N/A                  | Long             | ABS-O            | USGSE             | US        |   3891998 | PA      | $3687633.49   | 0.09%             | 2029-08-25      | Variable      | 6.13%                 | Yes           |                  2 | On Loan: No      |
| Government National Mortgage Association                      | Government National Mortgage Association Series 12-H23 Class SA            | CUSIP: 38375BXT4<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-O            | USGA              | US        |    332922 | PA      | $333994.21    | 0.01%             | 2062-10-20      | Variable      | 4.98%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                      | Government National Mortgage Association Pool MA9367                       | CUSIP: 36179YMQ4<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   3978779 | PA      | $4154525.92   | 0.10%             | 2053-12-20      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| TRICOLOR AUTO SECURITIZATION TRUST                            | Tricolor Auto Securitization Trust Series 2025-1A, Class E                 | CUSIP: 89617CAE1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   2000000 | PA      | $2022680.00   | 0.05%             | 2032-04-15      | Fixed         | 10.37%                | Yes           |                  2 | On Loan: No      |
| SPS SERVICER ADVANCE RECEIVABLES TRUST II                     | SPS Servicer Advance Receivables Series 2020-T2, Class B                   | CUSIP: 78472JAF0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   2213000 | PA      | $2183725.55   | 0.05%             | 2055-11-15      | Fixed         | 2.13%                 | Yes           |                  2 | On Loan: No      |
| OPORTUN ISSUANCE TRUST 2024-1                                 | Oportun Funding LLC Series 2024-1A, Class D                                | CUSIP: 68377JAG5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |  12250000 | PA      | $12753871.90  | 0.31%             | 2031-04-08      | Fixed         | 12.07%                | Yes           |                  2 | On Loan: No      |
| Federal National Mortgage Association                         | Federal National Mortgage Assoication Series 301 Class 1                   | CUSIP: 31364JZN6<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     77445 | PA      | $71955.61     | 0.00%             | 2029-04-25      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| LHOME MORTGAGE TRUST 2024-RTL2                                | LHOME Mortgage Trust Series 2024-RTL2, Class M                             | CUSIP: 50205JAC0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1800000 | PA      | $1816726.32   | 0.04%             | 2029-03-25      | Fixed         | 12.40%                | Yes           |                  2 | On Loan: No      |
| HERTZ VEHICLE FINANCING III LLC                               | Hertz Vehicle Financing LLC Series 2024-2A, Class D                        | CUSIP: 42806MCP2<br>LEI: 549300MNOMKDMDFI8J66 | Long             | ABS-O            | CORP              | US        |   5500000 | PA      | $5632025.85   | 0.14%             | 2031-01-27      | Fixed         | 10.30%                | Yes           |                  2 | On Loan: No      |
| CONTINENTAL FIN CRC MT TR 20-A                                | Continental Credit Card LLC Series 2021-A, Class B                         | CUSIP: 66981PAE8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |  12641523 | PA      | $12624141.10  | 0.30%             | 2029-12-17      | Fixed         | 3.49%                 | Yes           |                  2 | On Loan: No      |
| DROP MTGE TST                                                 | Drop Mortgage Trust Series 2021-FILE, Class A                              | CUSIP: 26210YAA4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   7225000 | PA      | $7011515.70   | 0.17%             | 2043-10-15      | Floating      | 5.58%                 | Yes           |                  2 | On Loan: No      |
| Federal National Mortgage Association                         | Federal National Mortgage Association Series 2006-56 Class DC              | CUSIP: 31395NXE2<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-O            | USGSE             | US        |    309777 | PA      | $305096.04    | 0.01%             | 2036-07-25      | Floating      | 5.09%                 | No            |                  2 | On Loan: No      |
| BXMT LTD                                                      | BXMT Ltd. Series 2021-FL4, Class D                                         | CUSIP: 05609GAJ7<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |  13250000 | PA      | $12460154.25  | 0.30%             | 2038-05-15      | Floating      | 6.69%                 | Yes           |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2025-08-29

**Name of Applicant:** Diamond Hill Funds

**Signature:** Julie Roach

**Name of Signer:** Julie Roach

**Title:** Treasurer