# EDGAR Filing Document

**Accession Number:** 0000914036
**File Stem:** 0001410368-25-027814
**Filing Date:** 2025-11
**Character Count:** 1172305
**Document Hash:** 76fcf26c16a58abb01c5c73ed3e9e727
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001410368-25-027814.hdr.sgml**: 20251121

**ACCESSION NUMBER**: 0001410368-25-027814

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250930

**FILED AS OF DATE**: 20251121

**DATE AS OF CHANGE**: 20251121

**PERIOD START**: 20251231

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** LINCOLN VARIABLE INSURANCE PRODUCTS TRUST
- **CENTRAL INDEX KEY:** 0000914036

**ORGANIZATION NAME:**
- **EIN:** 521835648
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-08090
- **FILM NUMBER:** 251505011

**BUSINESS ADDRESS:**
- **STREET 1:** 1301 SOUTH HARRISON STREET
- **CITY:** FORT WAYNE
- **STATE:** IN
- **ZIP:** 46802
- **BUSINESS PHONE:** 260-455-2000

**MAIL ADDRESS:**
- **STREET 1:** 1301 SOUTH HARRISON STREET
- **CITY:** FORT WAYNE
- **STATE:** IN
- **ZIP:** 46802

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** AGGRESSIVE GROWTH FUND /
- **DATE OF NAME CHANGE:** 20031001

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** LINCOLN VARIABLE INSURANCE PRODUCTS TRUST
- **DATE OF NAME CHANGE:** 20030910

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** LINCOLN NATIONAL AGGRESSIVE GROWTH FUND INC
- **DATE OF NAME CHANGE:** 19931025

## Series and Classes Contracts Data

### LVIP Fidelity Institutional AM Total Bond Fund (Series ID: S000070165)

| Class ID   | Class Name     | Ticker Symbol   |
|:---|:---|:---|
| C000223150 | Service Class  |  |
| C000223151 | Standard Class |  |

## Nport-Ex

**LVIP Fidelity Institutional AM**<sup>®</sup> **Total Bond Fund**

**Schedule of Investments**

September 30, 2025 (unaudited)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
|  | **Principal** <br>**Amount°**<br>| **Value** <br>**(U.S. $)**<br>|
| **AGENCY COLLATERALIZED MORTGAGE OBLIGATIONS–1.10%** | **AGENCY COLLATERALIZED MORTGAGE OBLIGATIONS–1.10%** | **AGENCY COLLATERALIZED MORTGAGE OBLIGATIONS–1.10%** |
| Federal Home Loan Mortgage Corp. REMICS | Federal Home Loan Mortgage Corp. REMICS | Federal Home Loan Mortgage Corp. REMICS |
| &nbsp;&nbsp;&nbsp; Series 5001 Class A 2.00% <br> 1/25/45<br>| 896762 | $843667 |
| &nbsp;&nbsp;&nbsp; Series 5002 Class TJ 2.00% <br> 7/25/50<br>| 1038274 | 877233 |
| &nbsp;&nbsp;&nbsp; Series 5059 Class GA 1.00% <br> 1/25/51<br>| 252688 | 196381 |
| &nbsp;&nbsp;&nbsp; Series 5209 Class EA 3.00% <br> 8/25/50<br>| 375192 | 348229 |
| &nbsp;&nbsp;&nbsp; Series 5209 Class EJ 3.00% <br> 8/25/50<br>| 375192 | 348228 |
| &nbsp;&nbsp;&nbsp; •Series 5354 Class FC 5.81% <br> (30 day USD SOFR Average <br> + 1.45%) 10/25/53<br>| 5066208 | 5122338 |
| &nbsp;&nbsp;&nbsp; •Series 5476 Class FB 5.46% <br> (30 day USD SOFR Average <br> + 1.10%) 11/25/54<br>| 1816128 | 1817230 |
| &nbsp;&nbsp; ♦Federal Home Loan Mortgage <br> Corp. Structured <br> Pass-Through Certificates <br> Series T-58 Class 2A 6.50% <br> 9/25/43<br>| 1280 | 1346 |
| Federal National Mortgage Association Grantor Trust | Federal National Mortgage Association Grantor Trust | Federal National Mortgage Association Grantor Trust |
| &nbsp;&nbsp;&nbsp; •Series 1999-T2 Class A1 <br> 7.50% 1/19/39<br>| 90 | 93 |
| &nbsp;&nbsp;&nbsp; Series 2004-T1 Class 1A2 <br> 6.50% 1/25/44<br>| 1114 | 1156 |
| Federal National Mortgage Association REMICS | Federal National Mortgage Association REMICS | Federal National Mortgage Association REMICS |
| &nbsp;&nbsp;&nbsp; Series 2022-18 Class DL <br> 3.25% 7/25/46<br>| 462347 | 442118 |
| &nbsp;&nbsp;&nbsp; •Series 2022-53 Class FG <br> 5.16% (30 day USD SOFR <br> Average + 0.80%) 8/25/52<br>| 1515752 | 1496965 |
| &nbsp;&nbsp;&nbsp; •Series 2022-56 Class FJ <br> 5.16% (30 day USD SOFR <br> Average + 0.80%) 9/25/52<br>| 2249151 | 2221274 |
| &nbsp;&nbsp;&nbsp; •Series 2022-64 Class GF <br> 5.16% (30 day USD SOFR <br> Average + 0.80%) 10/25/52<br>| 1717795 | 1700308 |
| &nbsp;&nbsp;&nbsp; •Series 2022-67 Class FA <br> 5.16% (30 day USD SOFR <br> Average + 0.80%) 10/25/52<br>| 2206459 | 2178961 |
| &nbsp;&nbsp;&nbsp; Series 2022-9 Class DJ 3.25% <br> 3/25/49<br>| 262596 | 246380 |
| &nbsp;&nbsp;&nbsp; •Series 2023-51 Class FB <br> 5.91% (30 day USD SOFR <br> Average + 1.55%) 11/25/53<br>| 2459163 | 2478328 |
| &nbsp;&nbsp;&nbsp; •Series 2023-53 Class FD <br> 5.86% (30 day USD SOFR <br> Average + 1.50%) 11/25/53<br>| 1848420 | 1861320 |
| &nbsp;&nbsp;&nbsp; •Series 2023-56 Class FC <br> 5.86% (30 day USD SOFR <br> Average + 1.50%) 11/25/53<br>| 1779222 | 1791708 |
| **Total Agency Collateralized Mortgage** <br> **Obligations** <br>**(Cost $23,769,207)** | **Total Agency Collateralized Mortgage** <br> **Obligations** <br>**(Cost $23,769,207)** | **23973263** |

---

---

| | | |
|:---|:---|:---|
|  | **Principal**<br> **Amount°**<br>| **Value**<br> **(U.S. $)**<br>|
| **AGENCY MORTGAGE-BACKED SECURITIES–15.71%** | **AGENCY MORTGAGE-BACKED SECURITIES–15.71%** | **AGENCY MORTGAGE-BACKED SECURITIES–15.71%** |
| Federal Home Loan Mortgage Corp. | Federal Home Loan Mortgage Corp. | Federal Home Loan Mortgage Corp. |
| &nbsp;&nbsp; 2.00% 1/1/37 | 7537176 | $6968995 |
| &nbsp;&nbsp; 2.00% 3/1/41 | 5222342 | 4514308 |
| &nbsp;&nbsp; 2.00% 1/1/51 | 6163158 | 5015450 |
| &nbsp;&nbsp; 2.00% 5/1/51 | 17601 | 14438 |
| &nbsp;&nbsp; 2.00% 12/1/51 | 18835 | 15425 |
| &nbsp;&nbsp; 2.00% 1/1/52 | 96709 | 79339 |
| &nbsp;&nbsp; 2.00% 3/1/52 | 2719277 | 2212986 |
| &nbsp;&nbsp; 2.50% 1/1/40 | 2445636 | 2230638 |
| &nbsp;&nbsp; 2.50% 3/1/51 | 6772608 | 5805404 |
| &nbsp;&nbsp; 2.50% 11/1/51 | 3845172 | 3309654 |
| &nbsp;&nbsp; 2.50% 12/1/51 | 7859580 | 6751156 |
| &nbsp;&nbsp; 2.50% 1/1/52 | 299777 | 256358 |
| &nbsp;&nbsp; 2.50% 4/1/52 | 1229528 | 1058292 |
| &nbsp;&nbsp; 3.00% 4/1/42 | 1983169 | 1836104 |
| &nbsp;&nbsp; 3.00% 6/1/42 | 3215237 | 2974571 |
| &nbsp;&nbsp; 3.00% 11/1/46 | 2281783 | 2065300 |
| &nbsp;&nbsp; 3.00% 1/1/47 | 2265770 | 2047583 |
| &nbsp;&nbsp; 3.00% 7/1/50 | 1331642 | 1198688 |
| &nbsp;&nbsp; 3.00% 5/1/51 | 8128371 | 7313545 |
| &nbsp;&nbsp; 3.00% 8/1/52 | 6906188 | 6140000 |
| &nbsp;&nbsp; 3.50% 11/1/48 | 2138740 | 2001931 |
| &nbsp;&nbsp; 3.50% 4/1/52 | 3152024 | 2898734 |
| &nbsp;&nbsp; 4.00% 10/1/47 | 1005441 | 963428 |
| &nbsp;&nbsp; 4.00% 9/1/52 | 6881110 | 6552675 |
| &nbsp;&nbsp; 4.50% 7/1/52 | 1036031 | 1013449 |
| &nbsp;&nbsp; 4.50% 10/1/52 | 317038 | 308940 |
| &nbsp;&nbsp; 4.50% 12/1/52 | 364304 | 354962 |
| &nbsp;&nbsp; 4.50% 1/1/53 | 92621 | 90226 |
| &nbsp;&nbsp; 4.50% 8/1/55 | 315590 | 306582 |
| &nbsp;&nbsp; 5.00% 7/1/52 | 4342269 | 4351443 |
| &nbsp;&nbsp; 5.00% 6/1/53 | 4355816 | 4343327 |
| &nbsp;&nbsp; 5.50% 9/1/41 | 2007710 | 2091498 |
| &nbsp;&nbsp; 5.50% 11/1/52 | 4066716 | 4143410 |
| &nbsp;&nbsp; 6.00% 12/1/52 | 1696801 | 1759820 |
| &nbsp;&nbsp; 6.00% 8/1/55 | 1095417 | 1138415 |
| &nbsp;&nbsp; 6.50% 6/1/55 | 1928561 | 2032286 |
| Federal National Mortgage Association | Federal National Mortgage Association | Federal National Mortgage Association |
| &nbsp;&nbsp; 2.00% 3/1/41 | 3753177 | 3244340 |
| &nbsp;&nbsp; 2.00% 5/1/41 | 4324277 | 3764295 |
| &nbsp;&nbsp; 2.00% 12/1/50 | 4956488 | 4035868 |
| &nbsp;&nbsp; 2.00% 1/1/51 | 1578741 | 1294637 |
| &nbsp;&nbsp; 2.00% 2/1/51 | 4207716 | 3448033 |
| &nbsp;&nbsp; 2.00% 4/1/51 | 396523 | 322160 |
| &nbsp;&nbsp; 2.00% 8/1/51 | 2164191 | 1767704 |
| &nbsp;&nbsp; 2.00% 11/1/51 | 52709 | 43246 |
| &nbsp;&nbsp; 2.00% 2/1/52 | 52725 | 43251 |
| &nbsp;&nbsp; 2.00% 3/1/52 | 987141 | 806690 |
| &nbsp;&nbsp; 2.50% 8/1/36 | 331196 | 312281 |
| &nbsp;&nbsp; 2.50% 1/1/43 | 1744249 | 1574583 |
| &nbsp;&nbsp; 2.50% 8/1/50 | 8355957 | 7191677 |
| &nbsp;&nbsp; 2.50% 11/1/50 | 7051446 | 5983325 |
| &nbsp;&nbsp; 2.50% 1/1/51 | 3288745 | 2799444 |
| &nbsp;&nbsp; 2.50% 7/1/51 | 1217864 | 1048251 |
| &nbsp;&nbsp; 2.50% 9/1/51 | 2684251 | 2308055 |

---

*LVIP Fidelity Institutional AM*<sup>®</sup> *Total Bond Fund–1*

------

**LVIP Fidelity Institutional AM**<sup>®</sup> **Total Bond Fund**

**Schedule of Investments (continued)**

---

| | | |
|:---|:---|:---|
|  | **Principal**<br> **Amount°**<br>| **Value**<br> **(U.S. $)**<br>|
| **AGENCY MORTGAGE-BACKED SECURITIES (continued)** | **AGENCY MORTGAGE-BACKED SECURITIES (continued)** | **AGENCY MORTGAGE-BACKED SECURITIES (continued)** |
| Federal National Mortgage Association (continued) | Federal National Mortgage Association (continued) | Federal National Mortgage Association (continued) |
| &nbsp;&nbsp; 2.50% 12/1/51 | 2108016 | $1810733 |
| &nbsp;&nbsp; 2.50% 2/1/52 | 7703705 | 6578249 |
| &nbsp;&nbsp; 2.50% 4/1/52 | 1948886 | 1658331 |
| &nbsp;&nbsp; 3.00% 9/1/37 | 1074827 | 1028964 |
| &nbsp;&nbsp; 3.00% 10/1/46 | 5202048 | 4703303 |
| &nbsp;&nbsp; 3.00% 4/1/47 | 582720 | 525251 |
| &nbsp;&nbsp; 3.00% 11/1/48 | 1015077 | 917372 |
| &nbsp;&nbsp; 3.00% 12/1/49 | 8423086 | 7541010 |
| &nbsp;&nbsp; 3.00% 7/1/51 | 6059452 | 5405494 |
| &nbsp;&nbsp; 3.00% 9/1/51 | 2837877 | 2544147 |
| &nbsp;&nbsp; 3.00% 12/1/51 | 492804 | 437962 |
| &nbsp;&nbsp; 3.00% 6/1/52 | 5529504 | 4915755 |
| &nbsp;&nbsp; 3.50% 1/1/48 | 2922920 | 2747950 |
| &nbsp;&nbsp; 3.50% 2/1/48 | 1722905 | 1609027 |
| &nbsp;&nbsp; 3.50% 1/1/50 | 1128282 | 1052887 |
| &nbsp;&nbsp; 3.50% 8/1/50 | 7545392 | 7049350 |
| &nbsp;&nbsp; 4.00% 8/1/42 | 775462 | 758022 |
| &nbsp;&nbsp; 4.00% 9/1/48 | 165117 | 158592 |
| &nbsp;&nbsp; 4.00% 6/1/49 | 785054 | 754652 |
| &nbsp;&nbsp; 4.00% 5/1/51 | 5444597 | 5214257 |
| &nbsp;&nbsp; 4.50% 1/1/50 | 3853707 | 3835384 |
| &nbsp;&nbsp; 4.50% 11/1/52 | 663135 | 646061 |
| &nbsp;&nbsp; 5.00% 7/1/47 | 551462 | 564917 |
| &nbsp;&nbsp; 5.50% 5/1/44 | 4481654 | 4665980 |
| &nbsp;&nbsp; 5.50% 10/1/52 | 3853322 | 3911130 |
| &nbsp;&nbsp; 5.50% 11/1/52 | 5853418 | 5971318 |
| &nbsp;&nbsp; 6.00% 1/1/42 | 5263293 | 5546330 |
| &nbsp;&nbsp; 6.00% 7/1/53 | 6672967 | 6905849 |
| &nbsp;&nbsp; 6.00% 5/1/55 | 5548145 | 5752224 |
| &nbsp;&nbsp; 6.00% 6/1/55 | 1078671 | 1122672 |
| &nbsp;&nbsp; 6.00% 7/1/55 | 2025386 | 2108012 |
| &nbsp;&nbsp; 6.00% 8/1/55 | 620334 | 643152 |
| &nbsp;&nbsp; 6.50% 6/1/54 | 2513540 | 2652060 |
| &nbsp;&nbsp; 6.50% 7/1/54 | 2236415 | 2340878 |
| &nbsp;&nbsp; 6.50% 7/1/55 | 702411 | 740837 |
| Government National Mortgage Association | Government National Mortgage Association | Government National Mortgage Association |
| &nbsp;&nbsp; 3.00% 12/20/46 | 362770 | 328253 |
| &nbsp;&nbsp; 3.00% 11/20/54 | 1850055 | 1652750 |
| &nbsp;&nbsp; 3.00% 12/20/54 | 1077743 | 963371 |
| &nbsp;&nbsp; 3.00% 2/20/55 | 847557 | 758797 |
| &nbsp;&nbsp; 3.00% 4/20/55 | 81291 | 72755 |
| &nbsp;&nbsp; 3.00% 5/20/55 | 489898 | 437653 |
| &nbsp;&nbsp; 3.50% 8/20/52 | 1553693 | 1422067 |
| &nbsp;&nbsp; 3.50% 10/20/52 | 475479 | 434988 |
| &nbsp;&nbsp; 5.00% 12/20/54 | 509616 | 507908 |
| &nbsp;&nbsp; 6.50% 5/20/55 | 1138604 | 1170240 |
| Government National Mortgage Association, TBA | Government National Mortgage Association, TBA | Government National Mortgage Association, TBA |
| &nbsp;&nbsp; 2.00% 10/20/55 | 25425000 | 21010949 |
| &nbsp;&nbsp; 2.00% 11/20/55 | 5125000 | 4236447 |
| &nbsp;&nbsp; 2.50% 10/20/55 | 14100000 | 12136957 |
| &nbsp;&nbsp; 3.00% 10/20/55 | 5050000 | 4507510 |
| &nbsp;&nbsp; 3.50% 10/20/55 | 4100000 | 3737626 |
| &nbsp;&nbsp; 5.00% 11/20/54 | 6050000 | 6009884 |
| &nbsp;&nbsp; 5.50% 10/20/54 | 13400000 | 13499727 |

---

---

| | | |
|:---|:---|:---|
|  | **Principal**<br> **Amount°**<br>| **Value**<br> **(U.S. $)**<br>|
| **AGENCY MORTGAGE-BACKED SECURITIES (continued)** | **AGENCY MORTGAGE-BACKED SECURITIES (continued)** | **AGENCY MORTGAGE-BACKED SECURITIES (continued)** |
| Government National Mortgage Association, TBA (continued) | Government National Mortgage Association, TBA (continued) | Government National Mortgage Association, TBA (continued) |
| &nbsp;&nbsp; 5.50% 11/20/54 | 5200000 | $5235044 |
| &nbsp;&nbsp; 6.00% 10/20/54 | 2350000 | 2389982 |
| &nbsp;&nbsp; 6.00% 11/20/54 | 2850000 | 2898266 |
| Uniform Mortgage-Backed Security, TBA | Uniform Mortgage-Backed Security, TBA | Uniform Mortgage-Backed Security, TBA |
| &nbsp;&nbsp; 2.00% 10/1/55 | 5575000 | 4492136 |
| &nbsp;&nbsp; 2.00% 11/1/55 | 10600000 | 7472066 |
| &nbsp;&nbsp; 4.50% 10/1/39 | 1950000 | 1947428 |
| &nbsp;&nbsp; 6.00% 10/1/54 | 650000 | 3650056 |
| &nbsp;&nbsp; 6.50% 10/1/54 | 525000 | 542526 |
| &nbsp;&nbsp; 6.50% 11/1/54 | 425000 | 439470 |
| **Total Agency Mortgage-Backed Securities** <br>**(Cost $358,552,814)** | **Total Agency Mortgage-Backed Securities** <br>**(Cost $358,552,814)** | **342920168** |
| **CONVERTIBLE BONDS–0.14%** | **CONVERTIBLE BONDS–0.14%** | **CONVERTIBLE BONDS–0.14%** |
| &nbsp;&nbsp; @EchoStar Corp. 3.88% <br> exercise price $3.87, <br> maturity date 11/30/30<br>| 507568 | 1248617 |
| &nbsp;&nbsp; Golar LNG Ltd. 2.75% <br> exercise price $2.75, <br> maturity date 12/15/30<br>| 142000 | 143420 |
| &nbsp;&nbsp; MKS, Inc. 1.25% exercise <br> price $1.25, maturity date <br> 6/1/30<br>| 167000 | 182865 |
| &nbsp;&nbsp; ^ON Semiconductor Corp. <br> 0.00% exercise price $0.01, <br> maturity date 5/1/27<br>| 129000 | 146802 |
| &nbsp;&nbsp; PG&E Corp. 4.25% exercise <br> price $4.25, maturity date <br> 12/1/27<br>| 134000 | 135514 |
| &nbsp;&nbsp; Redfin Corp. 0.50% exercise <br> price $0.50, maturity date <br> 4/1/27<br>| 444000 | 410034 |
| &nbsp;&nbsp; Riot Platforms, Inc. 0.75% <br> exercise price $0.75, <br> maturity date 1/15/30<br>| 276000 | 421385 |
| &nbsp;&nbsp; ‡Wolfspeed, Inc. 1.88% <br> exercise price $1.88, <br> maturity date 12/1/29<br>| 683000 | 307350 |
| **Total Convertible Bonds** <br>**(Cost $2,009,042)** | **Total Convertible Bonds** <br>**(Cost $2,009,042)** | **2995987** |
| **CORPORATE BONDS–27.24%** | **CORPORATE BONDS–27.24%** | **CORPORATE BONDS–27.24%** |
| **Advertising–0.09%** | **Advertising–0.09%** | **Advertising–0.09%** |
| &nbsp;&nbsp; Advantage Sales & Marketing, <br> Inc. 6.50% 11/15/28<br>| 185000 | 159233 |
| &nbsp;&nbsp; Clear Channel Outdoor <br> Holdings, Inc.<br>|  |  |
| &nbsp;&nbsp; 7.13% 2/15/31 | 200000 | 206730 |
| &nbsp;&nbsp; 7.50% 6/1/29 | 225000 | 218523 |
| &nbsp;&nbsp; 7.50% 3/15/33 | 200000 | 209114 |
| &nbsp;&nbsp; 7.88% 4/1/30 | 250000 | 262507 |
| &nbsp;&nbsp; CMG Media Corp. 8.88% <br> 6/18/29<br>| 60000 | 55105 |
| &nbsp;&nbsp; Dotdash Meredith, Inc. 7.63% <br> 6/15/32<br>| 90000 | 89163 |

---

*LVIP Fidelity Institutional AM*<sup>®</sup> *Total Bond Fund–2*

------

**LVIP Fidelity Institutional AM**<sup>®</sup> **Total Bond Fund**

**Schedule of Investments (continued)**

---

| | | |
|:---|:---|:---|
|  | **Principal**<br> **Amount°**<br>| **Value**<br> **(U.S. $)**<br>|
| **CORPORATE BONDS (continued)** | **CORPORATE BONDS (continued)** | **CORPORATE BONDS (continued)** |
| **Advertising (continued)** | **Advertising (continued)** | **Advertising (continued)** |
| &nbsp;&nbsp; Lamar Media Corp. 5.38% <br> 11/1/33<br>| 210000 | $208455 |
| &nbsp;&nbsp; Neptune Bidco U.S., Inc. <br> 9.29% 4/15/29<br>| 300000 | 294507 |
| &nbsp;&nbsp; Outfront Media <br> Capital LLC/Outfront Media <br> Capital Corp. 7.38% 2/15/31<br>| 130000 | 137143 |
| &nbsp;&nbsp; Publicis Groupe SA 3.38% <br> 6/12/32<br>| 100000 | 117383 |
|  |  | **1957863** |
| **Aerospace & Defense–0.54%** | **Aerospace & Defense–0.54%** | **Aerospace & Defense–0.54%** |
| Boeing Co. |  |  |
| &nbsp;&nbsp; 2.20% 2/4/26 | 4675000 | 4639593 |
| &nbsp;&nbsp; 3.25% 2/1/28 | 2200000 | 2148780 |
| &nbsp;&nbsp; 6.86% 5/1/54 | 3000000 | 3422109 |
| Bombardier, Inc. |  |  |
| &nbsp;&nbsp; 6.75% 6/15/33 | 185000 | 193058 |
| &nbsp;&nbsp; 7.25% 7/1/31 | 200000 | 212007 |
| &nbsp;&nbsp; 8.75% 11/15/30 | 200000 | 215678 |
| &nbsp;&nbsp; Czechoslovak Group AS 6.50% <br> 1/10/31<br>| 200000 | 206039 |
| TransDigm, Inc. |  |  |
| &nbsp;&nbsp; 6.25% 1/31/34 | 45000 | 46279 |
| &nbsp;&nbsp; 6.38% 3/1/29 | 150000 | 153360 |
| &nbsp;&nbsp; 6.38% 5/31/33 | 265000 | 267979 |
| &nbsp;&nbsp; 6.63% 3/1/32 | 100000 | 102955 |
| &nbsp;&nbsp; 6.75% 1/31/34 | 230000 | 237811 |
|  |  | **11845648** |
| **Agriculture–0.40%** | **Agriculture–0.40%** | **Agriculture–0.40%** |
| &nbsp;&nbsp; BAT Capital Corp. 5.35% <br> 8/15/32<br>| 6350000 | 6565489 |
| &nbsp;&nbsp; BAT International Finance <br> PLC 4.13% 4/12/32<br>| 255000 | 309196 |
| &nbsp;&nbsp; μBritish American Tobacco <br> PLC 3.00% 9/27/26<br>| 362000 | 424218 |
| &nbsp;&nbsp; Imperial Brands Finance <br> Netherlands BV 5.25% <br> 2/15/31<br>| 245000 | 312156 |
| &nbsp;&nbsp; Imperial Brands Finance PLC <br> 4.88% 6/7/32<br>| 175000 | 226200 |
| &nbsp;&nbsp; Japan Tobacco, Inc. 5.85% <br> 6/15/35<br>| 325000 | 346076 |
| &nbsp;&nbsp; Philip Morris International, <br> Inc. 3.25% 6/6/32<br>| 325000 | 379222 |
| &nbsp;&nbsp; Scandinavian Tobacco Group <br> AS 4.88% 9/12/29<br>| 165000 | 201238 |
|  |  | **8763795** |
| **Airlines–0.05%** | **Airlines–0.05%** | **Airlines–0.05%** |
| &nbsp;&nbsp; JetBlue Airways <br> Corp./JetBlue Loyalty LP <br> 9.88% 9/20/31<br>| 205000 | 207926 |
| &nbsp;&nbsp; OneSky Flight LLC 8.88% <br> 12/15/29<br>| 131000 | 137753 |

---

---

| | | |
|:---|:---|:---|
|  | **Principal**<br> **Amount°**<br>| **Value**<br> **(U.S. $)**<br>|
| **CORPORATE BONDS (continued)** | **CORPORATE BONDS (continued)** | **CORPORATE BONDS (continued)** |
| **Airlines (continued)** | **Airlines (continued)** | **Airlines (continued)** |
| &nbsp;&nbsp; VistaJet Malta Finance <br> PLC/Vista Management <br> Holding, Inc.<br>|  |  |
| &nbsp;&nbsp; 6.38% 2/1/30 | 480000 | $467846 |
| &nbsp;&nbsp; 7.88% 5/1/27 | 200000 | 203119 |
|  |  | **1016644** |
| **Apparel–0.02%** | **Apparel–0.02%** | **Apparel–0.02%** |
| &nbsp;&nbsp; @Beach Acquisition Bidco LLC <br> 10.00% 7/15/33<br>| 250000 | 269665 |
| &nbsp;&nbsp; Gildan Activewear, Inc. 4.70% <br> 10/7/30<br>| 153000 | 152769 |
| &nbsp;&nbsp; Wolverine World Wide, Inc. <br> 4.00% 8/15/29<br>| 60000 | 54893 |
|  |  | **477327** |
| **Auto Manufacturers–0.28%** | **Auto Manufacturers–0.28%** | **Auto Manufacturers–0.28%** |
| &nbsp;&nbsp; Aston Martin Capital <br> Holdings Ltd. 10.00% <br> 3/31/29<br>| 215000 | 210497 |
| Ford Motor Credit Co. LLC |  |  |
| &nbsp;&nbsp; 2.90% 2/16/28 | 1030000 | 979252 |
| &nbsp;&nbsp; 4.45% 2/14/30 | 100000 | 119745 |
| &nbsp;&nbsp; 5.73% 9/5/30 | 132000 | 133087 |
| &nbsp;&nbsp; 6.18% 8/29/31 | 100000 | 134896 |
| &nbsp;&nbsp; 6.80% 5/12/28 | 2340000 | 2430283 |
| &nbsp;&nbsp; 6.80% 11/7/28 | 850000 | 887446 |
| &nbsp;&nbsp; New Flyer Holdings, Inc. <br> 9.25% 7/1/30<br>| 65000 | 69574 |
| μRCI Banque SA 5.50% 10/9/34 | 200000 | 246993 |
| &nbsp;&nbsp; Rivian <br> Holdings LLC/Rivian LLC/Rivian <br> Automotive LLC 10.00% <br> 1/15/31<br>| 230000 | 214106 |
| &nbsp;&nbsp; Stellantis Finance U.S., Inc. <br> 5.75% 3/18/30<br>| 229000 | 232928 |
| &nbsp;&nbsp; Volkswagen Bank GmbH <br> 3.50% 6/19/31<br>| 100000 | 117499 |
| &nbsp;&nbsp; μVolkswagen International <br> Finance NV 3.88% 6/17/29<br>| 200000 | 230121 |
|  |  | **6006427** |
| **Auto Parts & Equipment–0.11%** | **Auto Parts & Equipment–0.11%** | **Auto Parts & Equipment–0.11%** |
| &nbsp;&nbsp; Adient Global Holdings Ltd. <br> 7.50% 2/15/33<br>| 150000 | 155320 |
| &nbsp;&nbsp; American Axle & <br> Manufacturing, Inc.<br>|  |  |
| &nbsp;&nbsp; 6.38% 10/15/32 | 105000 | 104823 |
| &nbsp;&nbsp; 7.75% 10/15/33 | 200000 | 201559 |
| &nbsp;&nbsp; Clarios Global LP/Clarios <br> U.S. Finance Co.<br>|  |  |
| &nbsp;&nbsp; 6.75% 2/15/30 | 120000 | 123961 |
| &nbsp;&nbsp; 6.75% 9/15/32 | 205000 | 209543 |
| Forvia SE 6.75% 9/15/33 | 135000 | 136966 |
| &nbsp;&nbsp; Metalsa SAPI de CV 3.75% <br> 5/4/31<br>| 200000 | 177500 |

---

*LVIP Fidelity Institutional AM*<sup>®</sup> *Total Bond Fund–3*

------

**LVIP Fidelity Institutional AM**<sup>®</sup> **Total Bond Fund**

**Schedule of Investments (continued)**

---

| | | |
|:---|:---|:---|
|  | **Principal**<br> **Amount°**<br>| **Value**<br> **(U.S. $)**<br>|
| **CORPORATE BONDS (continued)** | **CORPORATE BONDS (continued)** | **CORPORATE BONDS (continued)** |
| **Auto Parts & Equipment (continued)** | **Auto Parts & Equipment (continued)** | **Auto Parts & Equipment (continued)** |
| Schaeffler AG 5.38% 4/1/31 | 200000 | $245871 |
| &nbsp;&nbsp; ZF Europe Finance BV 4.75% <br> 1/31/29<br>| 300000 | 345854 |
| &nbsp;&nbsp; ZF North America Capital, <br> Inc.<br>|  |  |
| &nbsp;&nbsp; 6.75% 4/23/30 | 300000 | 292764 |
| &nbsp;&nbsp; 6.88% 4/14/28 | 100000 | 101384 |
| &nbsp;&nbsp; 6.88% 4/23/32 | 200000 | 191481 |
| &nbsp;&nbsp; 7.50% 3/24/31 | 125000 | 124149 |
|  |  | **2411175** |
| **Banks–7.03%** | **Banks–7.03%** | **Banks–7.03%** |
| &nbsp;&nbsp; μBanco Bilbao Vizcaya <br> Argentaria SA 6.03% 3/13/35<br>| 400000 | 425327 |
| &nbsp;&nbsp; μBanco de Credito del Peru SA <br> 5.80% 3/10/35<br>| 100000 | 101870 |
| &nbsp;&nbsp; μBanco de Credito e <br> Inversiones SA 8.75% 5/8/29<br>| 200000 | 216500 |
| &nbsp;&nbsp; μBanco del Estado de Chile <br> 7.95% 5/2/29<br>| 200000 | 213362 |
| &nbsp;&nbsp; μBanco do Brasil SA 8.75% <br> 10/15/25<br>| 200000 | 200300 |
| &nbsp;&nbsp; μBanco Mercantil del Norte SA <br> 7.63% 1/10/28<br>| 250000 | 256485 |
| μBank of America Corp. |  |  |
| &nbsp;&nbsp; 4.62% 5/9/29 | 4239000 | 4291517 |
| &nbsp;&nbsp; 5.16% 1/24/31 | 3080000 | 3178823 |
| &nbsp;&nbsp; 5.29% 4/25/34 | 7290000 | 7542377 |
| &nbsp;&nbsp; 5.82% 9/15/29 | 4171000 | 4361595 |
| &nbsp;&nbsp; 6.20% 11/10/28 | 5285000 | 5507494 |
| &nbsp;&nbsp; 6.25% 7/26/30 | 135000 | 136725 |
| &nbsp;&nbsp; μBank of Nova Scotia 3.38% <br> 3/5/33<br>| 335000 | 394568 |
| μBarclays PLC |  |  |
| &nbsp;&nbsp; 3.54% 8/14/31 | 250000 | 296778 |
| &nbsp;&nbsp; 5.37% 2/25/31 | 4180000 | 4310218 |
| &nbsp;&nbsp; 5.50% 8/9/28 | 6190000 | 6323023 |
| &nbsp;&nbsp; μBBVA Mexico SA Institucion <br> De Banca Multiple Grupo <br> Financiero BBVA Mexico <br> 5.13% 1/18/33<br>| 250000 | 245500 |
| μBNP Paribas SA |  |  |
| &nbsp;&nbsp; 3.95% 2/18/37 | 200000 | 235600 |
| &nbsp;&nbsp; 5.79% 1/13/33 | 3491000 | 3663890 |
| &nbsp;&nbsp; 7.45% 6/27/35 | 200000 | 208749 |
| μBPCE SA 5.72% 1/18/30 | 420000 | 434343 |
| &nbsp;&nbsp; μBW Real Estate, Inc. 9.50% <br> 3/30/30<br>| 200000 | 206401 |
| μCaixaBank SA 6.84% 9/13/34 | 485000 | 540423 |
| μCitigroup, Inc. |  |  |
| &nbsp;&nbsp; 2.67% 1/29/31 | 7040000 | 6544219 |
| &nbsp;&nbsp; 4.30% 7/23/36 | 100000 | 119783 |
| &nbsp;&nbsp; 5.17% 2/13/30 | 4015000 | 4118649 |
| μCommerzbank AG |  |  |
| &nbsp;&nbsp; 4.88% 10/16/34 | 300000 | 369523 |

---

---

| | | |
|:---|:---|:---|
|  | **Principal**<br> **Amount°**<br>| **Value**<br> **(U.S. $)**<br>|
| **CORPORATE BONDS (continued)** | **CORPORATE BONDS (continued)** | **CORPORATE BONDS (continued)** |
| **Banks (continued)** | **Banks (continued)** | **Banks (continued)** |
| &nbsp;&nbsp; μCommerzbank <br> AG (continued)<br>|  |  |
| &nbsp;&nbsp; 8.63% 2/28/33 | 100000 | $144404 |
| &nbsp;&nbsp; Commonwealth Bank of <br> Australia<br>|  |  |
| &nbsp;&nbsp; 2.69% 3/11/31 | 365000 | 330196 |
| μ3.79% 8/26/37 | 100000 | 117749 |
| Cooperatieve Rabobank UA |  |  |
| &nbsp;&nbsp; 1.13% 5/7/31 | 300000 | 316754 |
| μ5.71% 1/21/33 | 250000 | 262891 |
| μDanske Bank AS 3.88% 1/9/32 | 415000 | 503076 |
| μDeutsche Bank AG |  |  |
| &nbsp;&nbsp; 6.13% 12/12/30 | 200000 | 279247 |
| &nbsp;&nbsp; 6.72% 1/18/29 | 3558000 | 3736395 |
| &nbsp;&nbsp; 6.82% 11/20/29 | 2599000 | 2780043 |
| μGoldman Sachs Group, Inc. |  |  |
| &nbsp;&nbsp; 5.02% 10/23/35 | 3400000 | 3422606 |
| &nbsp;&nbsp; 5.73% 4/25/30 | 4010000 | 4195431 |
| &nbsp;&nbsp; 6.48% 10/24/29 | 8295000 | 8827368 |
| μHSBC Holdings PLC |  |  |
| &nbsp;&nbsp; 5.81% 5/22/33 | 125000 | 172859 |
| &nbsp;&nbsp; 6.25% 3/9/34 | 420000 | 457427 |
| &nbsp;&nbsp; 8.20% 11/16/34 | 140000 | 207491 |
| μING Groep NV 3.00% 8/17/31 | 300000 | 349541 |
| Intesa Sanpaolo SpA |  |  |
| &nbsp;&nbsp; 3.88% 7/14/27 | 1070000 | 1063471 |
| &nbsp;&nbsp; 6.63% 6/20/33 | 200000 | 220144 |
| μJPMorgan Chase & Co. |  |  |
| &nbsp;&nbsp; 2.52% 4/22/31 | 8190000 | 7596472 |
| &nbsp;&nbsp; 5.01% 1/23/30 | 2075000 | 2125735 |
| &nbsp;&nbsp; 5.14% 1/24/31 | 1805000 | 1864079 |
| &nbsp;&nbsp; 5.34% 1/23/35 | 2175000 | 2260642 |
| &nbsp;&nbsp; 5.77% 4/22/35 | 7040000 | 7500325 |
| &nbsp;&nbsp; 6.25% 10/23/34 | 1418000 | 1562529 |
| μJyske Bank AS 5.13% 5/1/35 | 338000 | 420086 |
| &nbsp;&nbsp; Kreditanstalt fuer <br> Wiederaufbau<br>|  |  |
| ^0.00% 1/10/31 | 110000 | 113174 |
| ^0.00% 9/15/31 | 215000 | 216691 |
| &nbsp;&nbsp; 0.13% 1/9/32 | 495000 | 497403 |
| &nbsp;&nbsp; 1.13% 9/15/32 | 130000 | 137462 |
| &nbsp;&nbsp; 1.38% 6/7/32 | 55000 | 59438 |
| &nbsp;&nbsp; 3.25% 3/24/31 | 115000 | 139875 |
| &nbsp;&nbsp; 4.00% 3/15/29 | 450000 | 454551 |
| μMorgan Stanley |  |  |
| &nbsp;&nbsp; 5.25% 4/21/34 | 5220000 | 5382988 |
| &nbsp;&nbsp; 5.83% 4/19/35 | 5246000 | 5592461 |
| &nbsp;&nbsp; 6.30% 10/18/28 | 3189000 | 3323222 |
| &nbsp;&nbsp; 6.41% 11/1/29 | 2746000 | 2918630 |
| μNatWest Group PLC |  |  |
| &nbsp;&nbsp; 3.63% 9/3/34 | 100000 | 117356 |
| &nbsp;&nbsp; 7.42% 6/6/33 | 175000 | 248108 |
| &nbsp;&nbsp; μPNC Financial Services <br> Group, Inc. 6.88% 10/20/34<br>| 2670000 | 3024984 |

---

*LVIP Fidelity Institutional AM*<sup>®</sup> *Total Bond Fund–4*

------

**LVIP Fidelity Institutional AM**<sup>®</sup> **Total Bond Fund**

**Schedule of Investments (continued)**

---

| | | |
|:---|:---|:---|
|  | **Principal**<br> **Amount°**<br>| **Value**<br> **(U.S. $)**<br>|
| **CORPORATE BONDS (continued)** | **CORPORATE BONDS (continued)** | **CORPORATE BONDS (continued)** |
| **Banks (continued)** | **Banks (continued)** | **Banks (continued)** |
| &nbsp;&nbsp; μRoyal Bank of Canada 3.13% <br> 9/27/31<br>| 185000 | $217297 |
| &nbsp;&nbsp; μSociete Generale SA 6.69% <br> 1/10/34<br>| 205000 | 223290 |
| &nbsp;&nbsp; μStandard Chartered PLC <br> 3.86% 3/17/33<br>| 130000 | 155362 |
| &nbsp;&nbsp; Toronto-Dominion Bank <br> 3.36% 9/22/32<br>| 184000 | 215279 |
| μUBS Group AG |  |  |
| &nbsp;&nbsp; 0.25% 11/5/28 | 300000 | 335352 |
| &nbsp;&nbsp; 4.19% 4/1/31 | 6590000 | 6515164 |
| &nbsp;&nbsp; 5.70% 2/8/35 | 1005000 | 1058777 |
| &nbsp;&nbsp; Walker & Dunlop, Inc. 6.63% <br> 4/1/33<br>| 100000 | 102265 |
| μWells Fargo & Co. |  |  |
| &nbsp;&nbsp; 2.88% 10/30/30 | 9110000 | 8625362 |
| &nbsp;&nbsp; 5.24% 1/24/31 | 1850000 | 1914024 |
| &nbsp;&nbsp; 6.49% 10/23/34 | 5790000 | 6433227 |
| &nbsp;&nbsp; μWestern Alliance Bancorp <br> 3.00% 6/15/31<br>| 250000 | 242475 |
|  |  | **153425220** |
| **Beverages–0.02%** | **Beverages–0.02%** | **Beverages–0.02%** |
| &nbsp;&nbsp; Carlsberg Breweries AS 3.25% <br> 2/28/32<br>| 175000 | 206052 |
| &nbsp;&nbsp; Central American Bottling <br> Corp./CBC Bottling Holdco <br> SL/Beliv Holdco SL 5.25% <br> 4/27/29<br>| 150000 | 148161 |
|  |  | **354213** |
| **Biotechnology–0.01%** | **Biotechnology–0.01%** | **Biotechnology–0.01%** |
| &nbsp;&nbsp; Biocon Biologics Global PLC <br> 6.67% 10/9/29<br>| 55000 | 53434 |
| &nbsp;&nbsp; Emergent BioSolutions, Inc. <br> 3.88% 8/15/28<br>| 238000 | 197656 |
|  |  | **251090** |
| **Building Materials–0.24%** | **Building Materials–0.24%** | **Building Materials–0.24%** |
| &nbsp;&nbsp; AmeriTex HoldCo <br> Intermediate LLC 7.63% <br> 8/15/33<br>| 135000 | 140506 |
| &nbsp;&nbsp; Amrize Finance U.S. LLC <br> 4.70% 4/7/28<br>| 1250000 | 1264589 |
| Builders FirstSource, Inc. |  |  |
| &nbsp;&nbsp; 4.25% 2/1/32 | 200000 | 188087 |
| &nbsp;&nbsp; 6.38% 3/1/34 | 100000 | 103011 |
| &nbsp;&nbsp; 6.75% 5/15/35 | 390000 | 407212 |
| &nbsp;&nbsp; Camelot Return Merger Sub, <br> Inc. 8.75% 8/1/28<br>| 135000 | 130613 |
| μCemex SAB de CV |  |  |
| &nbsp;&nbsp; 5.13% 6/8/26 | 350000 | 348546 |
| &nbsp;&nbsp; 7.20% 6/10/30 | 200000 | 209100 |
| &nbsp;&nbsp; Cornerstone Building Brands, <br> Inc.<br>|  |  |
| &nbsp;&nbsp; 6.13% 1/15/29 | 80000 | 65012 |

---

---

| | | |
|:---|:---|:---|
|  | **Principal**<br> **Amount°**<br>| **Value**<br> **(U.S. $)**<br>|
| **CORPORATE BONDS (continued)** | **CORPORATE BONDS (continued)** | **CORPORATE BONDS (continued)** |
| **Building Materials (continued)** | **Building Materials (continued)** | **Building Materials (continued)** |
| &nbsp;&nbsp; Cornerstone Building Brands, <br> Inc. (continued)<br>|  |  |
| &nbsp;&nbsp; 9.50% 8/15/29 | 75000 | $72873 |
| &nbsp;&nbsp; EMRLD <br> Borrower LP/Emerald <br> Co-Issuer, Inc. 6.63% <br> 12/15/30<br>| 450000 | 462577 |
| &nbsp;&nbsp; JELD-WEN, Inc. 4.88% <br> 12/15/27<br>| 70000 | 68310 |
| &nbsp;&nbsp; JH North America Holdings, <br> Inc. 6.13% 7/31/32<br>| 35000 | 35849 |
| &nbsp;&nbsp; Masterbrand, Inc. 7.00% <br> 7/15/32<br>| 100000 | 103343 |
| &nbsp;&nbsp; Miter Brands Acquisition <br> Holdco, Inc./MIWD <br> Borrower LLC 6.75% 4/1/32<br>| 100000 | 102725 |
| Quikrete Holdings, Inc. |  |  |
| &nbsp;&nbsp; 6.38% 3/1/32 | 600000 | 621506 |
| &nbsp;&nbsp; 6.75% 3/1/33 | 200000 | 207939 |
| &nbsp;&nbsp; Smyrna Ready Mix <br> Concrete LLC 6.00% 11/1/28<br>| 200000 | 200064 |
| &nbsp;&nbsp; Standard Building Solutions, <br> Inc.<br>|  |  |
| &nbsp;&nbsp; 6.25% 8/1/33 | 285000 | 288815 |
| &nbsp;&nbsp; 6.50% 8/15/32 | 150000 | 153903 |
|  |  | **5174580** |
| **Chemicals–0.45%** | **Chemicals–0.45%** | **Chemicals–0.45%** |
| &nbsp;&nbsp; @Advancion Sciences, Inc. <br> 9.25% 11/1/26<br>| 10000 | 8850 |
| &nbsp;&nbsp; Axalta Coating Systems Dutch <br> Holding B BV 7.25% 2/15/31<br>| 100000 | 104622 |
| &nbsp;&nbsp; Braskem Idesa SAPI 7.45% <br> 11/15/29<br>| 150000 | 91207 |
| &nbsp;&nbsp; Braskem Netherlands <br> Finance BV<br>|  |  |
| &nbsp;&nbsp; 5.88% 1/31/50 | 100000 | 36054 |
| &nbsp;&nbsp; 7.25% 2/13/33 | 290000 | 111315 |
| Celanese U.S. Holdings LLC |  |  |
| &nbsp;&nbsp; 6.50% 4/15/30 | 351000 | 353295 |
| &nbsp;&nbsp; 6.75% 4/15/33 | 2319000 | 2309216 |
| Chemours Co. |  |  |
| &nbsp;&nbsp; 5.75% 11/15/28 | 250000 | 243844 |
| &nbsp;&nbsp; 8.00% 1/15/33 | 175000 | 174066 |
| &nbsp;&nbsp; Consolidated Energy Finance <br> SA<br>|  |  |
| &nbsp;&nbsp; 5.63% 10/15/28 | 50000 | 41650 |
| &nbsp;&nbsp; 6.50% 5/15/26 | 30000 | 29198 |
| &nbsp;&nbsp; 12.00% 2/15/31 | 550000 | 503253 |
| &nbsp;&nbsp; GPD Cos., Inc. 12.50% <br> 12/31/29<br>| 97050 | 73801 |
| &nbsp;&nbsp; Herens Holdco SARL 4.75% <br> 5/15/28<br>| 300000 | 262827 |
| &nbsp;&nbsp; Inversion Escrow Issuer LLC <br> 6.75% 8/1/32<br>| 280000 | 275832 |

---

*LVIP Fidelity Institutional AM*<sup>®</sup> *Total Bond Fund–5*

------

**LVIP Fidelity Institutional AM**<sup>®</sup> **Total Bond Fund**

**Schedule of Investments (continued)**

---

| | | |
|:---|:---|:---|
|  | **Principal**<br> **Amount°**<br>| **Value**<br> **(U.S. $)**<br>|
| **CORPORATE BONDS (continued)** | **CORPORATE BONDS (continued)** | **CORPORATE BONDS (continued)** |
| **Chemicals (continued)** | **Chemicals (continued)** | **Chemicals (continued)** |
| &nbsp;&nbsp; Ma'aden Sukuk Ltd. 5.25% <br> 2/13/30<br>| 200000 | $206378 |
| &nbsp;&nbsp; Mativ Holdings, Inc. 8.00% <br> 10/1/29<br>| 135000 | 133658 |
| Methanex Corp. |  |  |
| &nbsp;&nbsp; 5.13% 10/15/27 | 400000 | 400465 |
| &nbsp;&nbsp; 5.25% 12/15/29 | 70000 | 69897 |
| &nbsp;&nbsp; 5.65% 12/1/44 | 300000 | 256142 |
| &nbsp;&nbsp; Methanex U.S. Operations, <br> Inc. 6.25% 3/15/32<br>| 200000 | 203494 |
| OCP SA |  |  |
| &nbsp;&nbsp; 3.75% 6/23/31 | 200000 | 187556 |
| &nbsp;&nbsp; 5.13% 6/23/51 | 100000 | 83500 |
| &nbsp;&nbsp; 6.88% 4/25/44 | 100000 | 104738 |
| Olin Corp. |  |  |
| &nbsp;&nbsp; 5.00% 2/1/30 | 400000 | 390731 |
| &nbsp;&nbsp; 5.63% 8/1/29 | 65000 | 65195 |
| &nbsp;&nbsp; 6.63% 4/1/33 | 265000 | 266367 |
| &nbsp;&nbsp; Olympus Water U.S. Holding <br> Corp.<br>|  |  |
| &nbsp;&nbsp; 6.25% 10/1/29 | 300000 | 291299 |
| &nbsp;&nbsp; 7.25% 2/15/33 | 345000 | 345359 |
| &nbsp;&nbsp; 9.75% 11/15/28 | 400000 | 419800 |
| Sasol Financing USA LLC |  |  |
| &nbsp;&nbsp; 4.38% 9/18/26 | 270000 | 268581 |
| &nbsp;&nbsp; 8.75% 5/3/29 | 200000 | 207470 |
| &nbsp;&nbsp; SCIL IV LLC/SCIL USA <br> Holdings LLC 5.38% 11/1/26<br>| 150000 | 149879 |
| &nbsp;&nbsp; Solstice Advanced Materials, <br> Inc. 5.63% 9/30/33<br>| 205000 | 205677 |
| Tronox, Inc. 4.63% 3/15/29 | 405000 | 264160 |
| WR Grace Holdings LLC |  |  |
| &nbsp;&nbsp; 5.63% 8/15/29 | 400000 | 371799 |
| &nbsp;&nbsp; 6.63% 8/15/32 | 205000 | 202700 |
|  |  | **9713875** |
| **Commercial Services–0.36%** | **Commercial Services–0.36%** | **Commercial Services–0.36%** |
| &nbsp;&nbsp; ADT Security Corp. 5.88% <br> 10/15/33<br>| 140000 | 140000 |
| &nbsp;&nbsp; Albion Financing 1 <br> SARL/Aggreko Holdings, <br> Inc. 7.00% 5/21/30<br>| 165000 | 170660 |
| &nbsp;&nbsp; Allied Universal Holdco LLC <br> 7.88% 2/15/31<br>| 350000 | 366973 |
| &nbsp;&nbsp; Allied Universal <br> Holdco LLC/Allied Universal <br> Finance Corp. 6.88% 6/15/30<br>| 190000 | 195288 |
| &nbsp;&nbsp; Avis Budget Car <br> Rental LLC/Avis Budget <br> Finance, Inc. 8.38% 6/15/32<br>| 95000 | 99365 |
| &nbsp;&nbsp; Belron U.K. Finance PLC <br> 5.75% 10/15/29<br>| 135000 | 136760 |
| Block, Inc. |  |  |
| &nbsp;&nbsp; 3.50% 6/1/31 | 300000 | 279187 |
| &nbsp;&nbsp; 6.00% 8/15/33 | 100000 | 102404 |

---

---

| | | |
|:---|:---|:---|
|  | **Principal**<br> **Amount°**<br>| **Value**<br> **(U.S. $)**<br>|
| **CORPORATE BONDS (continued)** | **CORPORATE BONDS (continued)** | **CORPORATE BONDS (continued)** |
| **Commercial Services (continued)** | **Commercial Services (continued)** | **Commercial Services (continued)** |
| Block, Inc. (continued) |  |  |
| &nbsp;&nbsp; 6.50% 5/15/32 | 350000 | $362252 |
| &nbsp;&nbsp; Boost Newco Borrower LLC <br> 7.50% 1/15/31<br>| 300000 | 318268 |
| &nbsp;&nbsp; Champions Financing, Inc. <br> 8.75% 2/15/29<br>| 70000 | 67603 |
| CoreCivic, Inc. |  |  |
| &nbsp;&nbsp; 4.75% 10/15/27 | 350000 | 344929 |
| &nbsp;&nbsp; 8.25% 4/15/29 | 300000 | 316937 |
| &nbsp;&nbsp; DP World Crescent Ltd. 3.75% <br> 1/30/30<br>| 200000 | 193862 |
| DP World Ltd. 5.63% 9/25/48 | 100000 | 98398 |
| &nbsp;&nbsp; μDP World Salaam 6.00% <br> 10/1/25<br>| 200000 | 199819 |
| GEO Group, Inc. |  |  |
| &nbsp;&nbsp; 8.63% 4/15/29 | 200000 | 211746 |
| &nbsp;&nbsp; 10.25% 4/15/31 | 200000 | 220064 |
| Herc Holdings, Inc. |  |  |
| &nbsp;&nbsp; 7.00% 6/15/30 | 260000 | 270069 |
| &nbsp;&nbsp; 7.25% 6/15/33 | 185000 | 193122 |
| &nbsp;&nbsp; ION Platform Finance U.S., <br> Inc. 7.88% 9/30/32<br>| 240000 | 238423 |
| &nbsp;&nbsp; OT Midco, Inc. 10.00% <br> 2/15/30<br>| 200000 | 135121 |
| &nbsp;&nbsp; Shift4 Payments LLC/Shift4 <br> Payments Finance Sub, Inc. <br> 6.75% 8/15/32<br>| 135000 | 139575 |
| Sotheby's 7.38% 10/15/27 | 296000 | 295166 |
| StoneMor, Inc. 8.50% 5/15/29 | 325000 | 317650 |
| &nbsp;&nbsp; TriNet Group, Inc. 3.50% <br> 3/1/29<br>| 300000 | 280600 |
| &nbsp;&nbsp; United Rentals North <br> America, Inc. 6.13% 3/15/34<br>| 250000 | 259956 |
| Verisk Analytics, Inc. |  |  |
| &nbsp;&nbsp; 4.50% 8/15/30 | 444000 | 445333 |
| &nbsp;&nbsp; 5.13% 2/15/36 | 999000 | 1008238 |
| &nbsp;&nbsp; Wand NewCo 3, Inc. 7.63% <br> 1/30/32<br>| 100000 | 105362 |
| WEX, Inc. 6.50% 3/15/33 | 200000 | 204257 |
| Williams Scotsman, Inc. |  |  |
| &nbsp;&nbsp; 6.63% 6/15/29 | 150000 | 153428 |
| &nbsp;&nbsp; 6.63% 4/15/30 | 75000 | 77195 |
|  |  | **7948010** |
| **Computers–0.33%** | **Computers–0.33%** | **Computers–0.33%** |
| &nbsp;&nbsp; Amentum Holdings, Inc. <br> 7.25% 8/1/32<br>| 150000 | 155755 |
| ASGN, Inc. 4.63% 5/15/28 | 95000 | 93253 |
| &nbsp;&nbsp; CACI International, Inc. <br> 6.38% 6/15/33<br>| 240000 | 247572 |
| &nbsp;&nbsp; Dell International LLC/EMC <br> Corp.<br>|  |  |
| &nbsp;&nbsp; 4.15% 2/15/29 | 889000 | 886873 |
| &nbsp;&nbsp; 4.50% 2/15/31 | 1760000 | 1755931 |
| &nbsp;&nbsp; 4.75% 10/6/32 | 1173000 | 1167756 |

---

*LVIP Fidelity Institutional AM*<sup>®</sup> *Total Bond Fund–6*

------

**LVIP Fidelity Institutional AM**<sup>®</sup> **Total Bond Fund**

**Schedule of Investments (continued)**

---

| | | |
|:---|:---|:---|
|  | **Principal**<br> **Amount°**<br>| **Value**<br> **(U.S. $)**<br>|
| **CORPORATE BONDS (continued)** | **CORPORATE BONDS (continued)** | **CORPORATE BONDS (continued)** |
| **Computers (continued)** | **Computers (continued)** | **Computers (continued)** |
| &nbsp;&nbsp; Dell International LLC/EMC <br> Corp. (continued)<br>|  |  |
| &nbsp;&nbsp; 5.10% 2/15/36 | 2190000 | $2177785 |
| &nbsp;&nbsp; Insight Enterprises, Inc. <br> 6.63% 5/15/32<br>| 100000 | 102530 |
| &nbsp;&nbsp; Science Applications <br> International Corp. 5.88% <br> 11/1/33<br>| 210000 | 210065 |
| &nbsp;&nbsp; Seagate Data Storage <br> Technology Pte. Ltd.<br>|  |  |
| &nbsp;&nbsp; 5.75% 12/1/34 | 200000 | 199356 |
| &nbsp;&nbsp; 5.88% 7/15/30 | 115000 | 117003 |
| &nbsp;&nbsp; 8.50% 7/15/31 | 100000 | 105866 |
|  |  | **7219745** |
| **Distribution/Wholesale–0.00%** | **Distribution/Wholesale–0.00%** | **Distribution/Wholesale–0.00%** |
| &nbsp;&nbsp; Resideo Funding, Inc. 6.50% <br> 7/15/32<br>| 100000 | 102491 |
|  |  | **102491** |
| **Diversified Financial Services–1.34%** | **Diversified Financial Services–1.34%** | **Diversified Financial Services–1.34%** |
| &nbsp;&nbsp; AerCap Ireland Capital <br> DAC/AerCap Global Aviation <br> Trust<br>|  |  |
| &nbsp;&nbsp; 2.45% 10/29/26 | 2070000 | 2033744 |
| &nbsp;&nbsp; 3.00% 10/29/28 | 3769000 | 3632157 |
| &nbsp;&nbsp; 5.10% 1/19/29 | 1400000 | 1432987 |
| &nbsp;&nbsp; μAir Lease Corp. 4.13% <br> 12/15/26<br>| 345000 | 333449 |
| μAircastle Ltd. 5.25% 6/15/26 | 300000 | 298354 |
| Ally Financial, Inc. |  |  |
| μ4.70% 5/15/28 | 460000 | 423941 |
| μ6.65% 1/17/40 | 365000 | 364875 |
| &nbsp;&nbsp; 6.70% 2/14/33 | 350000 | 364574 |
| &nbsp;&nbsp; 8.00% 11/1/31 | 1163000 | 1325785 |
| Avolon Holdings Funding Ltd. |  |  |
| &nbsp;&nbsp; 4.95% 1/15/28 | 1700000 | 1717067 |
| &nbsp;&nbsp; 5.38% 5/30/30 | 2150000 | 2205438 |
| &nbsp;&nbsp; Azorra Finance Ltd. 7.25% <br> 1/15/31<br>| 130000 | 135368 |
| &nbsp;&nbsp; Burford Capital Global <br> Finance LLC 7.50% 7/15/33<br>| 135000 | 137376 |
| μCapital One Financial Corp. |  |  |
| &nbsp;&nbsp; 4.93% 5/10/28 | 2000000 | 2020598 |
| &nbsp;&nbsp; 6.31% 6/8/29 | 5000000 | 5245060 |
| &nbsp;&nbsp; CIMIC Finance Ltd. 1.50% <br> 5/28/29<br>| 124000 | 135182 |
| &nbsp;&nbsp; CrossCountry Intermediate <br> HoldCo LLC 6.50% 10/1/30<br>| 140000 | 140515 |
| Encore Capital Group, Inc. |  |  |
| &nbsp;&nbsp; 8.50% 5/15/30 | 225000 | 238938 |
| &nbsp;&nbsp; 9.25% 4/1/29 | 100000 | 105516 |
| GGAM Finance Ltd. |  |  |
| &nbsp;&nbsp; 5.88% 3/15/30 | 200000 | 202499 |
| &nbsp;&nbsp; 6.88% 4/15/29 | 190000 | 197032 |

---

---

| | | |
|:---|:---|:---|
|  | **Principal**<br> **Amount°**<br>| **Value**<br> **(U.S. $)**<br>|
| **CORPORATE BONDS (continued)** | **CORPORATE BONDS (continued)** | **CORPORATE BONDS (continued)** |
| **Diversified Financial Services (continued)** | **Diversified Financial Services (continued)** | **Diversified Financial Services (continued)** |
| &nbsp;&nbsp; GGAM Finance <br> Ltd. (continued)<br>|  |  |
| &nbsp;&nbsp; 8.00% 6/15/28 | 400000 | $423382 |
| &nbsp;&nbsp; Global Aircraft Leasing Co. <br> Ltd. 8.75% 9/1/27<br>| 380000 | 392592 |
| &nbsp;&nbsp; Hightower Holding LLC 9.13% <br> 1/31/30<br>| 300000 | 318187 |
| &nbsp;&nbsp; Jane Street Group/JSG <br> Finance, Inc.<br>|  |  |
| &nbsp;&nbsp; 6.13% 11/1/32 | 200000 | 202712 |
| &nbsp;&nbsp; 6.75% 5/1/33 | 330000 | 342749 |
| &nbsp;&nbsp; 7.13% 4/30/31 | 150000 | 157334 |
| &nbsp;&nbsp; Jefferies Finance LLC/JFIN <br> Co-Issuer Corp. 6.63% <br> 10/15/31<br>| 140000 | 140932 |
| LFS Topco LLC 8.75% 7/15/30 | 235000 | 236059 |
| &nbsp;&nbsp; Macquarie Airfinance <br> Holdings Ltd.<br>|  |  |
| &nbsp;&nbsp; 6.40% 3/26/29 | 200000 | 210623 |
| &nbsp;&nbsp; 6.50% 3/26/31 | 150000 | 160681 |
| &nbsp;&nbsp; 8.13% 3/30/29 | 200000 | 208203 |
| Navient Corp. |  |  |
| &nbsp;&nbsp; 4.88% 3/15/28 | 100000 | 98043 |
| &nbsp;&nbsp; 5.50% 3/15/29 | 80000 | 78425 |
| &nbsp;&nbsp; 5.63% 8/1/33 | 100000 | 91234 |
| &nbsp;&nbsp; 7.88% 6/15/32 | 150000 | 157839 |
| OneMain Finance Corp. |  |  |
| &nbsp;&nbsp; 3.88% 9/15/28 | 400000 | 384427 |
| &nbsp;&nbsp; 6.13% 5/15/30 | 135000 | 136712 |
| &nbsp;&nbsp; 6.50% 3/15/33 | 70000 | 70111 |
| &nbsp;&nbsp; 6.63% 5/15/29 | 250000 | 256968 |
| &nbsp;&nbsp; 7.13% 3/15/26 | 139000 | 140256 |
| &nbsp;&nbsp; 7.13% 9/15/32 | 130000 | 134295 |
| &nbsp;&nbsp; PennyMac Financial Services, <br> Inc.<br>|  |  |
| &nbsp;&nbsp; 6.75% 2/15/34 | 135000 | 137712 |
| &nbsp;&nbsp; 6.88% 5/15/32 | 180000 | 186515 |
| &nbsp;&nbsp; 6.88% 2/15/33 | 150000 | 154966 |
| &nbsp;&nbsp; Phoenix Aviation Capital Ltd. <br> 9.25% 7/15/30<br>| 93000 | 98944 |
| &nbsp;&nbsp; PRA Group, Inc. 8.88% <br> 1/31/30<br>| 130000 | 134152 |
| Rocket Cos., Inc. |  |  |
| &nbsp;&nbsp; 6.13% 8/1/30 | 170000 | 174474 |
| &nbsp;&nbsp; 6.38% 8/1/33 | 245000 | 252868 |
| SLM Corp. 6.50% 1/31/30 | 125000 | 130258 |
| &nbsp;&nbsp; Stellantis Financial Services <br> U.S. Corp. 5.40% 9/15/30<br>| 216000 | 216453 |
| &nbsp;&nbsp; Stonex Escrow Issuer LLC <br> 6.88% 7/15/32<br>| 65000 | 66906 |
| &nbsp;&nbsp; TrueNoord Capital DAC 8.75% <br> 3/1/30<br>| 130000 | 138125 |
| UWM Holdings LLC |  |  |
| &nbsp;&nbsp; 6.25% 3/15/31 | 205000 | 204024 |
| &nbsp;&nbsp; 6.63% 2/1/30 | 250000 | 254321 |

---

*LVIP Fidelity Institutional AM*<sup>®</sup> *Total Bond Fund–7*

------

**LVIP Fidelity Institutional AM**<sup>®</sup> **Total Bond Fund**

**Schedule of Investments (continued)**

---

| | | |
|:---|:---|:---|
|  | **Principal**<br> **Amount°**<br>| **Value**<br> **(U.S. $)**<br>|
| **CORPORATE BONDS (continued)** | **CORPORATE BONDS (continued)** | **CORPORATE BONDS (continued)** |
| **Diversified Financial Services (continued)** | **Diversified Financial Services (continued)** | **Diversified Financial Services (continued)** |
| &nbsp;&nbsp; VFH Parent LLC/Valor <br> Co-Issuer, Inc. 7.50% <br> 6/15/31<br>| 110000 | $113771 |
|  |  | **29295708** |
| **Electric–1.20%** | **Electric–1.20%** | **Electric–1.20%** |
| &nbsp;&nbsp; Abu Dhabi National Energy <br> Co. PJSC<br>|  |  |
| &nbsp;&nbsp; 4.00% 10/3/49 | 100000 | 80650 |
| &nbsp;&nbsp; 4.75% 3/9/37 | 200000 | 198446 |
| AES Corp. |  |  |
| &nbsp;&nbsp; 2.45% 1/15/31 | 4990000 | 4468753 |
| μ6.95% 7/15/55 | 145000 | 142299 |
| &nbsp;&nbsp; Alpha Generation LLC 6.75% <br> 10/15/32<br>| 50000 | 51615 |
| Amprion GmbH |  |  |
| &nbsp;&nbsp; 3.88% 6/5/36 | 100000 | 118136 |
| &nbsp;&nbsp; 4.13% 9/7/34 | 300000 | 365462 |
| &nbsp;&nbsp; AusNet Services Holdings Pty. <br> Ltd. 6.13% 5/31/33<br>| 180000 | 126618 |
| &nbsp;&nbsp; Aydem Yenilenebilir Enerji <br> AS 7.75% 2/2/27<br>| 160000 | 161746 |
| &nbsp;&nbsp; Buffalo Energy Mexico <br> Holdings/Buffalo Energy <br> Infrastructure/Buffalo <br> Energy 7.88% 2/15/39<br>| 149237 | 161416 |
| &nbsp;&nbsp; California Buyer <br> Ltd./Atlantica Sustainable <br> Infrastructure PLC 6.38% <br> 2/15/32<br>| 300000 | 307479 |
| Calpine Corp. |  |  |
| &nbsp;&nbsp; 4.63% 2/1/29 | 100000 | 99017 |
| &nbsp;&nbsp; 5.13% 3/15/28 | 100000 | 100051 |
| &nbsp;&nbsp; Chile Electricity Lux MPC <br> SARL 6.01% 1/20/33<br>| 179000 | 187865 |
| &nbsp;&nbsp; Clearway Energy <br> Operating LLC 3.75% <br> 2/15/31<br>| 300000 | 275398 |
| &nbsp;&nbsp; ContourGlobal Power <br> Holdings SA 6.75% 2/28/30<br>| 150000 | 155811 |
| Edison International |  |  |
| μ5.00% 12/15/26 | 75000 | 71062 |
| &nbsp;&nbsp; 6.25% 3/15/30 | 100000 | 103984 |
| μ7.88% 6/15/54 | 150000 | 152832 |
| μ8.13% 6/15/53 | 150000 | 153301 |
| &nbsp;&nbsp; Electricite de France SA <br> 5.50% 1/25/35<br>| 300000 | 391831 |
| &nbsp;&nbsp; EnBW International Finance <br> BV 3.75% 11/20/35<br>| 240000 | 282326 |
| &nbsp;&nbsp; Enel Finance International <br> NV 5.50% 6/26/34<br>| 215000 | 222599 |
| &nbsp;&nbsp; Energuate Trust 2 0 6.35% <br> 9/15/35<br>| 200000 | 201377 |

---

---

| | | |
|:---|:---|:---|
|  | **Principal**<br> **Amount°**<br>| **Value**<br> **(U.S. $)**<br>|
| **CORPORATE BONDS (continued)** | **CORPORATE BONDS (continued)** | **CORPORATE BONDS (continued)** |
| **Electric (continued)** | **Electric (continued)** | **Electric (continued)** |
| &nbsp;&nbsp; EnfraGen Energia Sur <br> SA/EnfraGen Spain <br> SA/Prime Energia SpA 5.38% <br> 12/30/30<br>| 620000 | $577220 |
| Engie SA 4.25% 9/6/34 | 200000 | 244599 |
| &nbsp;&nbsp; Eskom Holdings 6.35% <br> 8/10/28<br>| 250000 | 256630 |
| Exelon Corp. 5.45% 3/15/34 | 1115000 | 1157256 |
| &nbsp;&nbsp; Georgia Power Co. 4.95% <br> 5/17/33<br>| 4200000 | 4284391 |
| &nbsp;&nbsp; Hawaiian Electric Co., Inc. <br> 6.00% 10/1/33<br>| 100000 | 100869 |
| &nbsp;&nbsp; Investment Energy Resources <br> Ltd. 6.25% 4/26/29<br>| 200000 | 199196 |
| &nbsp;&nbsp; Kallpa Generacion SA 5.50% <br> 9/11/35<br>| 200000 | 201780 |
| &nbsp;&nbsp; Lightning Power LLC 7.25% <br> 8/15/32<br>| 100000 | 105872 |
| &nbsp;&nbsp; London Power Networks PLC <br> 3.84% 6/11/37<br>| 100000 | 117136 |
| &nbsp;&nbsp; Mong Duong Finance <br> Holdings BV 5.13% 5/7/29<br>| 67760 | 67018 |
| &nbsp;&nbsp; μNGG Finance PLC 2.13% <br> 9/5/82<br>| 181000 | 208315 |
| &nbsp;&nbsp; Niagara Energy SAC 5.75% <br> 10/3/34<br>| 200000 | 205937 |
| NRG Energy, Inc. |  |  |
| &nbsp;&nbsp; 3.38% 2/15/29 | 250000 | 236330 |
| &nbsp;&nbsp; 5.75% 7/15/29 | 200000 | 200239 |
| &nbsp;&nbsp; 5.75% 1/15/34 | 210000 | 209786 |
| &nbsp;&nbsp; 6.00% 2/1/33 | 350000 | 355450 |
| &nbsp;&nbsp; 6.00% 1/15/36 | 210000 | 210030 |
| &nbsp;&nbsp; 6.25% 11/1/34 | 250000 | 256273 |
| μPacifiCorp 7.38% 9/15/55 | 195000 | 205300 |
| PG&E Corp. |  |  |
| &nbsp;&nbsp; 5.25% 7/1/30 | 700000 | 690302 |
| μ7.38% 3/15/55 | 291000 | 298959 |
| Pike Corp. |  |  |
| &nbsp;&nbsp; 5.50% 9/1/28 | 130000 | 129572 |
| &nbsp;&nbsp; 8.63% 1/31/31 | 200000 | 214549 |
| &nbsp;&nbsp; Puget Energy, Inc. 5.73% <br> 3/15/35<br>| 4290000 | 4426946 |
| RWE Finance U.S. LLC |  |  |
| &nbsp;&nbsp; 5.13% 9/18/35 | 320000 | 315639 |
| &nbsp;&nbsp; 5.88% 4/16/34 | 202000 | 212210 |
| &nbsp;&nbsp; Saavi Energia SARL 8.88% <br> 2/10/35<br>| 250000 | 269050 |
| &nbsp;&nbsp; Scottish Hydro Electric <br> Transmission PLC 3.38% <br> 9/4/32<br>| 175000 | 205654 |
| μSSE PLC 3.74% 1/14/26 | 100000 | 133536 |
| &nbsp;&nbsp; Termocandelaria Power SA <br> 7.75% 9/17/31<br>| 250000 | 262418 |
| &nbsp;&nbsp; Tierra Mojada Luxembourg II <br> SARL 5.75% 12/1/40<br>| 169055 | 166477 |

---

*LVIP Fidelity Institutional AM*<sup>®</sup> *Total Bond Fund–8*

------

**LVIP Fidelity Institutional AM**<sup>®</sup> **Total Bond Fund**

**Schedule of Investments (continued)**

---

| | | |
|:---|:---|:---|
|  | **Principal**<br> **Amount°**<br>| **Value**<br> **(U.S. $)**<br>|
| **CORPORATE BONDS (continued)** | **CORPORATE BONDS (continued)** | **CORPORATE BONDS (continued)** |
| **Electric (continued)** | **Electric (continued)** | **Electric (continued)** |
| Vistra Operations Co. LLC |  |  |
| &nbsp;&nbsp; 5.63% 2/15/27 | 250000 | $250148 |
| &nbsp;&nbsp; 6.88% 4/15/32 | 250000 | 261469 |
| &nbsp;&nbsp; XPLR Infrastructure <br> Operating Partners LP<br>|  |  |
| &nbsp;&nbsp; 7.25% 1/15/29 | 30000 | 30802 |
| &nbsp;&nbsp; 8.38% 1/15/31 | 170000 | 178160 |
| &nbsp;&nbsp; 8.63% 3/15/33 | 170000 | 178277 |
|  |  | **26203869** |
| **Electrical Components & Equipment–0.01%** | **Electrical Components & Equipment–0.01%** | **Electrical Components & Equipment–0.01%** |
| &nbsp;&nbsp; WESCO Distribution, Inc. <br> 6.38% 3/15/33<br>| 200000 | 207326 |
|  |  | **207326** |
| **Electronics–0.02%** | **Electronics–0.02%** | **Electronics–0.02%** |
| &nbsp;&nbsp; Coherent Corp. 5.00% <br> 12/15/29<br>| 140000 | 138068 |
| &nbsp;&nbsp; Sensata Technologies BV <br> 4.00% 4/15/29<br>| 150000 | 143951 |
| &nbsp;&nbsp; Sensata Technologies, Inc. <br> 6.63% 7/15/32<br>| 150000 | 155217 |
| &nbsp;&nbsp; TTM Technologies, Inc. 4.00% <br> 3/1/29<br>| 70000 | 67300 |
|  |  | **504536** |
| **Energy-Alternate Sources–0.00%** | **Energy-Alternate Sources–0.00%** | **Energy-Alternate Sources–0.00%** |
| &nbsp;&nbsp; ‡Sunnova Energy Corp. 5.88% <br> 9/1/26<br>| 280000 | 700 |
|  |  | **700** |
| **Engineering & Construction–0.21%** | **Engineering & Construction–0.21%** | **Engineering & Construction–0.21%** |
| AECOM 6.00% 8/1/33 | 270000 | 276045 |
| &nbsp;&nbsp; Aeropuerto Internacional de <br> Tocumen SA 5.13% 8/11/61<br>| 200000 | 158800 |
| &nbsp;&nbsp; Aeropuertos Dominicanos <br> Siglo XXI SA 7.00% 6/30/34<br>| 200000 | 210000 |
| &nbsp;&nbsp; Artera Services LLC 8.50% <br> 2/15/31<br>| 770000 | 680424 |
| &nbsp;&nbsp; ATP Tower Holdings/Andean <br> Telecom Partners Chile <br> SpA/Andean Tower Partners <br> C 7.88% 2/3/30<br>| 150000 | 154378 |
| &nbsp;&nbsp; Brand Industrial Services, <br> Inc. 10.38% 8/1/30<br>| 700000 | 697769 |
| &nbsp;&nbsp; Heathrow Funding Ltd. 6.00% <br> 3/5/32<br>| 255000 | 347404 |
| HTA Group Ltd. 7.50% 6/4/29 | 220000 | 228207 |
| IHS Holding Ltd. |  |  |
| &nbsp;&nbsp; 5.63% 11/29/26 | 80000 | 79304 |
| &nbsp;&nbsp; 7.88% 5/29/30 | 400000 | 413328 |
| &nbsp;&nbsp; 8.25% 11/29/31 | 200000 | 210019 |
| &nbsp;&nbsp; Kingston Airport Revenue <br> Finance Ltd. 6.75% 12/15/36<br>| 200000 | 204800 |
| &nbsp;&nbsp; Montego Bay Airport Revenue <br> Finance Ltd. 6.60% 6/15/35<br>| 200000 | 204500 |

---

---

| | | |
|:---|:---|:---|
|  | **Principal**<br> **Amount°**<br>| **Value**<br> **(U.S. $)**<br>|
| **CORPORATE BONDS (continued)** | **CORPORATE BONDS (continued)** | **CORPORATE BONDS (continued)** |
| **Engineering & Construction (continued)** | **Engineering & Construction (continued)** | **Engineering & Construction (continued)** |
| &nbsp;&nbsp; Railworks <br> Holdings LP/Railworks Rally, <br> Inc. 8.25% 11/15/28<br>| 310000 | $313607 |
| TopBuild Corp. |  |  |
| &nbsp;&nbsp; 4.13% 2/15/32 | 100000 | 93745 |
| &nbsp;&nbsp; 5.63% 1/31/34 | 210000 | 209237 |
|  |  | **4481567** |
| **Entertainment–0.08%** | **Entertainment–0.08%** | **Entertainment–0.08%** |
| Caesars Entertainment, Inc. |  |  |
| &nbsp;&nbsp; 6.00% 10/15/32 | 250000 | 246240 |
| &nbsp;&nbsp; 6.50% 2/15/32 | 250000 | 254997 |
| &nbsp;&nbsp; Flutter Treasury DAC 5.88% <br> 6/4/31<br>| 475000 | 482134 |
| &nbsp;&nbsp; GENM Capital Labuan Ltd. <br> 3.88% 4/19/31<br>| 200000 | 184026 |
| &nbsp;&nbsp; Light & Wonder <br> International, Inc. 6.25% <br> 10/1/33<br>| 205000 | 205349 |
| &nbsp;&nbsp; Mohegan Tribal Gaming <br> Authority/MS Digital <br> Entertainment <br> Holdings LLC<br>|  |  |
| &nbsp;&nbsp; 8.25% 4/15/30 | 105000 | 109099 |
| &nbsp;&nbsp; 11.88% 4/15/31 | 130000 | 136266 |
| Warnermedia Holdings, Inc. |  |  |
| &nbsp;&nbsp; 4.28% 3/15/32 | 30000 | 27488 |
| &nbsp;&nbsp; 5.05% 3/15/42 | 135000 | 107773 |
| &nbsp;&nbsp; 5.14% 3/15/52 | 35000 | 26075 |
|  |  | **1779447** |
| **Environmental Control–0.03%** | **Environmental Control–0.03%** | **Environmental Control–0.03%** |
| &nbsp;&nbsp; Ambipar Lux SARL 9.88% <br> 2/6/31<br>| 306000 | 52173 |
| &nbsp;&nbsp; Clean Harbors, Inc. 6.38% <br> 2/1/31<br>| 100000 | 102403 |
| &nbsp;&nbsp; GFL Environmental, Inc. <br> 3.50% 9/1/28<br>| 100000 | 97539 |
| &nbsp;&nbsp; Reworld Holding Corp. 4.88% <br> 12/1/29<br>| 145000 | 136368 |
| &nbsp;&nbsp; Waste Pro USA, Inc. 7.00% <br> 2/1/33<br>| 80000 | 82864 |
| &nbsp;&nbsp; Wrangler Holdco Corp. 6.63% <br> 4/1/32<br>| 250000 | 260675 |
|  |  | **732022** |
| **Food–1.08%** | **Food–1.08%** | **Food–1.08%** |
| &nbsp;&nbsp; Albertsons Cos., Inc./Safeway, <br> Inc./New <br> Albertsons LP/Albertsons LLC<br>|  |  |
| &nbsp;&nbsp; 3.50% 3/15/29 | 235000 | 222699 |
| &nbsp;&nbsp; 4.88% 2/15/30 | 200000 | 196451 |
| &nbsp;&nbsp; 6.25% 3/15/33 | 150000 | 153405 |
| &nbsp;&nbsp; Barry Callebaut Services NV <br> 4.25% 8/19/31<br>| 300000 | 360029 |

---

*LVIP Fidelity Institutional AM*<sup>®</sup> *Total Bond Fund–9*

------

**LVIP Fidelity Institutional AM**<sup>®</sup> **Total Bond Fund**

**Schedule of Investments (continued)**

---

| | | |
|:---|:---|:---|
|  | **Principal**<br> **Amount°**<br>| **Value**<br> **(U.S. $)**<br>|
| **CORPORATE BONDS (continued)** | **CORPORATE BONDS (continued)** | **CORPORATE BONDS (continued)** |
| **Food (continued)** | **Food (continued)** | **Food (continued)** |
| &nbsp;&nbsp; C&S Group Enterprises LLC <br> 5.00% 12/15/28<br>| 230000 | $208053 |
| Fiesta Purchaser, Inc. |  |  |
| &nbsp;&nbsp; 7.88% 3/1/31 | 65000 | 68597 |
| &nbsp;&nbsp; 9.63% 9/15/32 | 65000 | 70173 |
| &nbsp;&nbsp; Gruma SAB de CV 5.76% <br> 12/9/54<br>| 250000 | 248478 |
| &nbsp;&nbsp; KeHE Distributors LLC/KeHE <br> Finance Corp./NextWave <br> Distribution, Inc. 9.00% <br> 2/15/29<br>| 265000 | 278820 |
| Kroger Co. 5.00% 9/15/34 | 4340000 | 4376845 |
| &nbsp;&nbsp; Lamb Weston Holdings, Inc. <br> 4.13% 1/31/30<br>| 400000 | 384089 |
| &nbsp;&nbsp; MARB BondCo PLC 3.95% <br> 1/29/31<br>| 100000 | 91562 |
| Mars, Inc. |  |  |
| &nbsp;&nbsp; 4.80% 3/1/30 | 7595000 | 7737613 |
| &nbsp;&nbsp; 5.20% 3/1/35 | 2855000 | 2918200 |
| &nbsp;&nbsp; 5.65% 5/1/45 | 1900000 | 1927410 |
| &nbsp;&nbsp; 5.70% 5/1/55 | 2275000 | 2304453 |
| METRO AG 4.00% 3/5/30 | 175000 | 212918 |
| &nbsp;&nbsp; Minerva Luxembourg SA <br> 8.88% 9/13/33<br>| 100000 | 109812 |
| &nbsp;&nbsp; NBM U.S. Holdings, Inc. 6.63% <br> 8/6/29<br>| 150000 | 151875 |
| &nbsp;&nbsp; Performance Food Group, <br> Inc. 6.13% 9/15/32<br>| 135000 | 138282 |
| Post Holdings, Inc. |  |  |
| &nbsp;&nbsp; 5.50% 12/15/29 | 300000 | 298802 |
| &nbsp;&nbsp; 6.25% 2/15/32 | 200000 | 205616 |
| &nbsp;&nbsp; 6.38% 3/1/33 | 200000 | 201862 |
| &nbsp;&nbsp; REWE International Finance <br> BV 4.88% 9/13/30<br>| 200000 | 252113 |
| U.S. Foods, Inc. |  |  |
| &nbsp;&nbsp; 4.75% 2/15/29 | 250000 | 246261 |
| &nbsp;&nbsp; 5.75% 4/15/33 | 150000 | 150786 |
|  |  | **23515204** |
| **Food Service–0.01%** | **Food Service–0.01%** | **Food Service–0.01%** |
| &nbsp;&nbsp; TKC Holdings, Inc. 6.88% <br> 5/15/28<br>| 250000 | 252142 |
|  |  | **252142** |
| **Forest Products & Paper–0.04%** | **Forest Products & Paper–0.04%** | **Forest Products & Paper–0.04%** |
| &nbsp;&nbsp; Ahlstrom Holding 3 OYJ 4.88% <br> 2/4/28<br>| 100000 | 96958 |
| Inversiones CMPC SA |  |  |
| &nbsp;&nbsp; 3.00% 4/6/31 | 50000 | 45015 |
| μ6.70% 12/9/57 | 200000 | 204300 |
| &nbsp;&nbsp; LD Celulose International <br> GmbH 7.95% 1/26/32<br>| 200000 | 211451 |
| &nbsp;&nbsp; Suzano Austria GmbH 5.00% <br> 1/15/30<br>| 200000 | 200849 |

---

---

| | | |
|:---|:---|:---|
|  | **Principal**<br> **Amount°**<br>| **Value**<br> **(U.S. $)**<br>|
| **CORPORATE BONDS (continued)** | **CORPORATE BONDS (continued)** | **CORPORATE BONDS (continued)** |
| **Forest Products & Paper (continued)** | **Forest Products & Paper (continued)** | **Forest Products & Paper (continued)** |
| &nbsp;&nbsp; Suzano Netherlands BV 5.50% <br> 1/15/36<br>| 100000 | $100100 |
|  |  | **858673** |
| **Gas–0.23%** | **Gas–0.23%** | **Gas–0.23%** |
| Fluxys SA 4.00% 11/28/30 | 200000 | 238993 |
| NiSource, Inc. 2.95% 9/1/29 | 4540000 | 4330939 |
| Snam SpA 5.75% 5/28/35 | 200000 | 207202 |
| &nbsp;&nbsp; Vier Gas Transport GmbH <br> 3.63% 9/8/33<br>| 200000 | 234841 |
|  |  | **5011975** |
| **Health Care Products–0.02%** | **Health Care Products–0.02%** | **Health Care Products–0.02%** |
| &nbsp;&nbsp; Medline <br> Borrower LP/Medline <br> Co-Issuer, Inc. 6.25% 4/1/29<br>| 470000 | 481940 |
|  |  | **481940** |
| **Health Care Services–0.69%** | **Health Care Services–0.69%** | **Health Care Services–0.69%** |
| &nbsp;&nbsp; Acadia Healthcare Co., Inc. <br> 7.38% 3/15/33<br>| 100000 | 103819 |
| Auna SA 10.00% 12/18/29 | 130000 | 137787 |
| &nbsp;&nbsp; Centene Corp. 4.63% <br> 12/15/29<br>| 6560000 | 6359108 |
| &nbsp;&nbsp; Charles River Laboratories <br> International, Inc.<br>|  |  |
| &nbsp;&nbsp; 4.00% 3/15/31 | 75000 | 69852 |
| &nbsp;&nbsp; 4.25% 5/1/28 | 70000 | 68464 |
| &nbsp;&nbsp; CHS/Community Health <br> Systems, Inc.<br>|  |  |
| &nbsp;&nbsp; 4.75% 2/15/31 | 755000 | 652885 |
| &nbsp;&nbsp; 5.25% 5/15/30 | 667000 | 603398 |
| &nbsp;&nbsp; 6.13% 4/1/30 | 120000 | 87040 |
| &nbsp;&nbsp; 6.88% 4/15/29 | 250000 | 198750 |
| &nbsp;&nbsp; 9.75% 1/15/34 | 135000 | 138307 |
| DaVita, Inc. |  |  |
| &nbsp;&nbsp; 4.63% 6/1/30 | 450000 | 431275 |
| &nbsp;&nbsp; 6.75% 7/15/33 | 195000 | 201084 |
| &nbsp;&nbsp; 6.88% 9/1/32 | 250000 | 258259 |
| &nbsp;&nbsp; Global Medical Response, <br> Inc. 7.38% 10/1/32<br>| 70000 | 72052 |
| &nbsp;&nbsp; HAH Group Holding Co. LLC <br> 9.75% 10/1/31<br>| 185000 | 175764 |
| HCA, Inc. 5.45% 9/15/34 | 2610000 | 2677313 |
| IQVIA, Inc. |  |  |
| &nbsp;&nbsp; 6.25% 6/1/32 | 295000 | 303302 |
| &nbsp;&nbsp; 6.50% 5/15/30 | 100000 | 103349 |
| &nbsp;&nbsp; LifePoint Health, Inc. 10.00% <br> 6/1/32<br>| 100000 | 104996 |
| &nbsp;&nbsp; Molina Healthcare, Inc. 6.25% <br> 1/15/33<br>| 400000 | 404443 |
| &nbsp;&nbsp; Pediatrix Medical Group, Inc. <br> 5.38% 2/15/30<br>| 150000 | 148983 |
| &nbsp;&nbsp; Prime Healthcare Services, <br> Inc. 9.38% 9/1/29<br>| 130000 | 135200 |

---

*LVIP Fidelity Institutional AM*<sup>®</sup> *Total Bond Fund–10*

------

**LVIP Fidelity Institutional AM**<sup>®</sup> **Total Bond Fund**

**Schedule of Investments (continued)**

---

| | | |
|:---|:---|:---|
|  | **Principal**<br> **Amount°**<br>| **Value**<br> **(U.S. $)**<br>|
| **CORPORATE BONDS (continued)** | **CORPORATE BONDS (continued)** | **CORPORATE BONDS (continued)** |
| **Health Care Services (continued)** | **Health Care Services (continued)** | **Health Care Services (continued)** |
| &nbsp;&nbsp; Radiology Partners, Inc. <br> 8.50% 7/15/32<br>| 65000 | $67264 |
| &nbsp;&nbsp; Select Medical Corp. 6.25% <br> 12/1/32<br>| 250000 | 250105 |
| &nbsp;&nbsp; Sotera Health Holdings LLC <br> 7.38% 6/1/31<br>| 100000 | 105002 |
| &nbsp;&nbsp; Surgery Center Holdings, Inc. <br> 7.25% 4/15/32<br>| 65000 | 66771 |
| &nbsp;&nbsp; Team Health Holdings, Inc. <br> 8.38% 6/30/28<br>| 115000 | 117472 |
| Tenet Healthcare Corp. |  |  |
| &nbsp;&nbsp; 4.25% 6/1/29 | 145000 | 141611 |
| &nbsp;&nbsp; 6.13% 10/1/28 | 350000 | 350203 |
| &nbsp;&nbsp; 6.13% 6/15/30 | 270000 | 273444 |
| &nbsp;&nbsp; U.S. Acute Care <br> Solutions LLC 9.75% 5/15/29<br>| 325000 | 332794 |
|  |  | **15140096** |
| **Holding Companies-Diversified–0.00%** | **Holding Companies-Diversified–0.00%** | **Holding Companies-Diversified–0.00%** |
| &nbsp;&nbsp; Clue Opco LLC 9.50% <br> 10/15/31<br>| 80000 | 85559 |
|  |  | **85559** |
| **Home Builders–0.08%** | **Home Builders–0.08%** | **Home Builders–0.08%** |
| &nbsp;&nbsp; Ashton Woods <br> USA LLC/Ashton Woods <br> Finance Co.<br>|  |  |
| &nbsp;&nbsp; 4.63% 8/1/29 | 100000 | 95757 |
| &nbsp;&nbsp; 6.88% 8/1/33 | 65000 | 65558 |
| &nbsp;&nbsp; Beazer Homes USA, Inc. <br> 7.50% 3/15/31<br>| 100000 | 101332 |
| &nbsp;&nbsp; Berkeley Group PLC 2.50% <br> 8/11/31<br>| 427000 | 486857 |
| &nbsp;&nbsp; Century Communities, Inc. <br> 6.63% 9/15/33<br>| 135000 | 136183 |
| &nbsp;&nbsp; Dream Finders Homes, Inc. <br> 6.88% 9/15/30<br>| 135000 | 135803 |
| &nbsp;&nbsp; Forestar Group, Inc. 6.50% <br> 3/15/33<br>| 250000 | 255751 |
| LGI Homes, Inc. |  |  |
| &nbsp;&nbsp; 4.00% 7/15/29 | 100000 | 91247 |
| &nbsp;&nbsp; 7.00% 11/15/32 | 330000 | 322220 |
| &nbsp;&nbsp; 8.75% 12/15/28 | 15000 | 15747 |
| &nbsp;&nbsp; New Home Co., Inc. 8.50% <br> 11/1/30<br>| 65000 | 67474 |
|  |  | **1773929** |
| **Home Furnishings–0.03%** | **Home Furnishings–0.03%** | **Home Furnishings–0.03%** |
| Whirlpool Corp. |  |  |
| &nbsp;&nbsp; 5.75% 3/1/34 | 15000 | 14492 |
| &nbsp;&nbsp; 6.13% 6/15/30 | 270000 | 272114 |
| &nbsp;&nbsp; 6.50% 6/15/33 | 260000 | 259465 |
|  |  | **546071** |

---

---

| | | |
|:---|:---|:---|
|  | **Principal**<br> **Amount°**<br>| **Value**<br> **(U.S. $)**<br>|
| **CORPORATE BONDS (continued)** | **CORPORATE BONDS (continued)** | **CORPORATE BONDS (continued)** |
| **Household Products Ware–0.01%** | **Household Products Ware–0.01%** | **Household Products Ware–0.01%** |
| &nbsp;&nbsp; Kronos Acquisition Holdings, <br> Inc. 8.25% 6/30/31<br>| 210000 | $162787 |
|  |  | **162787** |
| **Housewares–0.03%** | **Housewares–0.03%** | **Housewares–0.03%** |
| Newell Brands, Inc. |  |  |
| &nbsp;&nbsp; 6.38% 5/15/30 | 200000 | 198159 |
| &nbsp;&nbsp; 6.63% 5/15/32 | 200000 | 197381 |
| &nbsp;&nbsp; 7.00% 4/1/46 | 100000 | 88120 |
| &nbsp;&nbsp; 8.50% 6/1/28 | 200000 | 211547 |
|  |  | **695207** |
| **Insurance–0.76%** | **Insurance–0.76%** | **Insurance–0.76%** |
| &nbsp;&nbsp; Acrisure LLC/Acrisure <br> Finance, Inc.<br>|  |  |
| &nbsp;&nbsp; 6.75% 7/1/32 | 65000 | 66929 |
| &nbsp;&nbsp; 7.50% 11/6/30 | 100000 | 104175 |
| &nbsp;&nbsp; 8.50% 6/15/29 | 100000 | 104985 |
| &nbsp;&nbsp; Admiral Group PLC 8.50% <br> 1/6/34<br>| 235000 | 361767 |
| &nbsp;&nbsp; Alliant Holdings <br> Intermediate LLC/Alliant <br> Holdings Co-Issuer 7.38% <br> 10/1/32<br>| 150000 | 154565 |
| AmWINS Group, Inc. |  |  |
| &nbsp;&nbsp; 4.88% 6/30/29 | 70000 | 68032 |
| &nbsp;&nbsp; 6.38% 2/15/29 | 65000 | 66322 |
| &nbsp;&nbsp; APH Somerset Investor 2 <br> LLC/APH2 Somerset <br> Investor 2 LLC/APH3 <br> Somerset Investor 2 LLC <br> 7.88% 11/1/29<br>| 250000 | 260905 |
| &nbsp;&nbsp; Athene Global Funding 5.58% <br> 1/9/29<br>| 2100000 | 2170329 |
| &nbsp;&nbsp; Corebridge Financial, Inc. <br> 3.90% 4/5/32<br>| 4670000 | 4458917 |
| &nbsp;&nbsp; Equitable Financial Life <br> Global Funding 5.00% <br> 3/27/30<br>| 4220000 | 4323940 |
| &nbsp;&nbsp; μQBE Insurance Group Ltd. <br> 2.50% 9/13/38<br>| 174000 | 217733 |
| &nbsp;&nbsp; Reinsurance Group of <br> America, Inc. 3.15% 6/15/30<br>| 4590000 | 4330896 |
|  |  | **16689495** |
| **Internet–0.22%** | **Internet–0.22%** | **Internet–0.22%** |
| &nbsp;&nbsp; Acuris Finance U.S., <br> Inc./Acuris Finance SARL<br>|  |  |
| &nbsp;&nbsp; 5.00% 5/1/28 | 250000 | 242969 |
| &nbsp;&nbsp; 9.00% 8/1/29 | 150000 | 156750 |
| &nbsp;&nbsp; Cablevision Lightpath LLC <br> 3.88% 9/15/27<br>| 60000 | 58250 |
| &nbsp;&nbsp; Cogent Communications <br> Group LLC/Cogent Finance, <br> Inc.<br>|  |  |
| &nbsp;&nbsp; 7.00% 6/15/27 | 80000 | 79787 |

---

*LVIP Fidelity Institutional AM*<sup>®</sup> *Total Bond Fund–11*

------

**LVIP Fidelity Institutional AM**<sup>®</sup> **Total Bond Fund**

**Schedule of Investments (continued)**

---

| | | |
|:---|:---|:---|
|  | **Principal**<br> **Amount°**<br>| **Value**<br> **(U.S. $)**<br>|
| **CORPORATE BONDS (continued)** | **CORPORATE BONDS (continued)** | **CORPORATE BONDS (continued)** |
| **Internet (continued)** | **Internet (continued)** | **Internet (continued)** |
| &nbsp;&nbsp; Cogent Communications <br> Group LLC/Cogent Finance, <br> Inc. (continued)<br>|  |  |
| &nbsp;&nbsp; 7.00% 6/15/27 | 345000 | $344082 |
| Gen Digital, Inc. 6.25% 4/1/33 | 105000 | 107192 |
| &nbsp;&nbsp; Go Daddy Operating Co. <br> LLC/GD Finance Co., Inc.<br>|  |  |
| &nbsp;&nbsp; 3.50% 3/1/29 | 200000 | 189495 |
| &nbsp;&nbsp; 5.25% 12/1/27 | 200000 | 199647 |
| &nbsp;&nbsp; GrubHub Holdings, Inc. <br> 13.00% 7/31/30<br>| 39005 | 38989 |
| &nbsp;&nbsp; ION Trading Technologies <br> SARL 5.75% 5/15/28<br>| 265000 | 260052 |
| Prosus NV 4.19% 1/19/32 | 500000 | 479381 |
| Snap, Inc. |  |  |
| &nbsp;&nbsp; 6.88% 3/1/33 | 150000 | 153315 |
| &nbsp;&nbsp; 6.88% 3/15/34 | 70000 | 70849 |
| Uber Technologies, Inc. |  |  |
| &nbsp;&nbsp; 4.15% 1/15/31 | 884000 | 875927 |
| &nbsp;&nbsp; 4.80% 9/15/35 | 697000 | 690677 |
| Wayfair LLC |  |  |
| &nbsp;&nbsp; 7.25% 10/31/29 | 396000 | 408292 |
| &nbsp;&nbsp; 7.75% 9/15/30 | 430000 | 450961 |
|  |  | **4806615** |
| **Investment Companies–0.69%** | **Investment Companies–0.69%** | **Investment Companies–0.69%** |
| &nbsp;&nbsp; Abu Dhabi Developmental <br> Holding Co. PJSC<br>|  |  |
| &nbsp;&nbsp; 5.25% 10/2/54 | 200000 | 196171 |
| &nbsp;&nbsp; 5.50% 5/8/34 | 200000 | 211786 |
| ARES Strategic Income Fund |  |  |
| &nbsp;&nbsp; 5.45% 9/9/28 | 1075000 | 1083385 |
| &nbsp;&nbsp; 5.80% 9/9/30 | 869000 | 883089 |
| &nbsp;&nbsp; 6.35% 8/15/29 | 2090000 | 2165056 |
| &nbsp;&nbsp; Blackstone Private Credit <br> Fund<br>|  |  |
| &nbsp;&nbsp; 4.88% 4/14/26 | 100000 | 134298 |
| &nbsp;&nbsp; 5.60% 11/22/29 | 1565000 | 1592465 |
| &nbsp;&nbsp; 7.30% 11/27/28 | 2950000 | 3151109 |
| &nbsp;&nbsp; Icahn Enterprises LP/Icahn <br> Enterprises Finance Corp.<br>|  |  |
| &nbsp;&nbsp; 4.38% 2/1/29 | 250000 | 215802 |
| &nbsp;&nbsp; 5.25% 5/15/27 | 400000 | 393178 |
| &nbsp;&nbsp; 6.25% 5/15/26 | 40000 | 39953 |
| &nbsp;&nbsp; 10.00% 11/15/29 | 300000 | 301325 |
| MDGH GMTN RSC Ltd. |  |  |
| &nbsp;&nbsp; 2.88% 11/7/29 | 200000 | 190687 |
| &nbsp;&nbsp; 5.08% 5/22/53 | 200000 | 187678 |
| &nbsp;&nbsp; Sixth Street Lending Partners <br> 6.13% 7/15/30<br>| 4220000 | 4362951 |
|  |  | **15108933** |
| **Iron & Steel–0.12%** | **Iron & Steel–0.12%** | **Iron & Steel–0.12%** |
| &nbsp;&nbsp; Champion Iron Canada, Inc. <br> 7.88% 7/15/32<br>| 50000 | 52277 |

---

---

| | | |
|:---|:---|:---|
|  | **Principal**<br> **Amount°**<br>| **Value**<br> **(U.S. $)**<br>|
| **CORPORATE BONDS (continued)** | **CORPORATE BONDS (continued)** | **CORPORATE BONDS (continued)** |
| **Iron & Steel (continued)** | **Iron & Steel (continued)** | **Iron & Steel (continued)** |
| Cleveland-Cliffs, Inc. |  |  |
| &nbsp;&nbsp; 7.00% 3/15/32 | 200000 | $201993 |
| &nbsp;&nbsp; 7.38% 5/1/33 | 100000 | 102087 |
| &nbsp;&nbsp; 7.63% 1/15/34 | 70000 | 72129 |
| Commercial Metals Co. |  |  |
| &nbsp;&nbsp; 3.88% 2/15/31 | 100000 | 93222 |
| &nbsp;&nbsp; 4.13% 1/15/30 | 70000 | 67157 |
| &nbsp;&nbsp; CSN Inova Ventures 6.75% <br> 1/28/28<br>| 150000 | 145535 |
| Mineral Resources Ltd. |  |  |
| &nbsp;&nbsp; 7.00% 4/1/31 | 75000 | 75970 |
| &nbsp;&nbsp; 8.00% 11/1/27 | 180000 | 183473 |
| &nbsp;&nbsp; 8.50% 5/1/30 | 400000 | 416060 |
| &nbsp;&nbsp; 9.25% 10/1/28 | 100000 | 104781 |
| POSCO 5.88% 1/17/33 | 200000 | 211523 |
| &nbsp;&nbsp; @Samarco Mineracao SA 9.50% <br> 6/30/31<br>| 591938 | 595010 |
| &nbsp;&nbsp; Usiminas International SARL <br> 7.50% 1/27/32<br>| 200000 | 205448 |
| &nbsp;&nbsp; Vale Overseas Ltd. 6.40% <br> 6/28/54<br>| 150000 | 154188 |
|  |  | **2680853** |
| **Leisure Time–0.14%** | **Leisure Time–0.14%** | **Leisure Time–0.14%** |
| &nbsp;&nbsp; Amer Sports Co. 6.75% <br> 2/16/31<br>| 250000 | 259807 |
| Carnival Corp. |  |  |
| &nbsp;&nbsp; 5.75% 3/15/30 | 275000 | 280771 |
| &nbsp;&nbsp; 5.75% 8/1/32 | 135000 | 137387 |
| &nbsp;&nbsp; 5.88% 6/15/31 | 260000 | 266433 |
| &nbsp;&nbsp; 6.00% 5/1/29 | 200000 | 202985 |
| &nbsp;&nbsp; 6.13% 2/15/33 | 150000 | 153755 |
| &nbsp;&nbsp; Life Time, Inc. 6.00% <br> 11/15/31<br>| 235000 | 238752 |
| &nbsp;&nbsp; Lindblad Expeditions LLC <br> 7.00% 9/15/30<br>| 80000 | 81543 |
| &nbsp;&nbsp; MajorDrive Holdings IV LLC <br> 6.38% 6/1/29<br>| 170000 | 139310 |
| NCL Corp. Ltd. |  |  |
| &nbsp;&nbsp; 5.88% 1/15/31 | 275000 | 274990 |
| &nbsp;&nbsp; 6.25% 9/15/33 | 275000 | 276423 |
| &nbsp;&nbsp; 6.75% 2/1/32 | 150000 | 154265 |
| Viking Cruises Ltd. |  |  |
| &nbsp;&nbsp; 5.88% 10/15/33 | 415000 | 415291 |
| &nbsp;&nbsp; 9.13% 7/15/31 | 100000 | 107332 |
|  |  | **2989044** |
| **Lodging–0.06%** | **Lodging–0.06%** | **Lodging–0.06%** |
| &nbsp;&nbsp; Hilton Domestic Operating <br> Co., Inc.<br>|  |  |
| &nbsp;&nbsp; 3.63% 2/15/32 | 420000 | 384344 |
| &nbsp;&nbsp; 4.00% 5/1/31 | 200000 | 189246 |
| &nbsp;&nbsp; 5.75% 9/15/33 | 135000 | 136802 |
| &nbsp;&nbsp; 6.13% 4/1/32 | 100000 | 102803 |

---

*LVIP Fidelity Institutional AM*<sup>®</sup> *Total Bond Fund–12*

------

**LVIP Fidelity Institutional AM**<sup>®</sup> **Total Bond Fund**

**Schedule of Investments (continued)**

---

| | | |
|:---|:---|:---|
|  | **Principal**<br> **Amount°**<br>| **Value**<br> **(U.S. $)**<br>|
| **CORPORATE BONDS (continued)** | **CORPORATE BONDS (continued)** | **CORPORATE BONDS (continued)** |
| **Lodging (continued)** | **Lodging (continued)** | **Lodging (continued)** |
| &nbsp;&nbsp; Hilton Grand Vacations <br> Borrower LLC/Hilton Grand <br> Vacations Borrower, Inc. <br> 6.63% 1/15/32<br>| 250000 | $253914 |
| &nbsp;&nbsp; IHG Finance LLC 3.38% <br> 9/10/30<br>| 100000 | 117636 |
| &nbsp;&nbsp; Station Casinos LLC 6.63% <br> 3/15/32<br>| 70000 | 71907 |
|  |  | **1256652** |
| **Machinery Diversified–0.02%** | **Machinery Diversified–0.02%** | **Machinery Diversified–0.02%** |
| &nbsp;&nbsp; TK Elevator U.S. Newco, Inc. <br> 5.25% 7/15/27<br>| 400000 | 398586 |
|  |  | **398586** |
| **Media–1.03%** | **Media–1.03%** | **Media–1.03%** |
| &nbsp;&nbsp; CCO Holdings LLC/CCO <br> Holdings Capital Corp.<br>|  |  |
| &nbsp;&nbsp; 4.25% 2/1/31 | 485000 | 446797 |
| &nbsp;&nbsp; 4.50% 5/1/32 | 495000 | 450483 |
| &nbsp;&nbsp; 4.50% 6/1/33 | 600000 | 533436 |
| &nbsp;&nbsp; 5.38% 6/1/29 | 135000 | 134100 |
| &nbsp;&nbsp; Charter Communications <br> Operating LLC/Charter <br> Communications Operating <br> Capital<br>|  |  |
| &nbsp;&nbsp; 3.85% 4/1/61 | 6270000 | 3907967 |
| &nbsp;&nbsp; 6.38% 10/23/35 | 4140000 | 4337186 |
| &nbsp;&nbsp; 6.48% 10/23/45 | 2250000 | 2222792 |
| CSC Holdings LLC |  |  |
| &nbsp;&nbsp; 3.38% 2/15/31 | 600000 | 386967 |
| &nbsp;&nbsp; 4.63% 12/1/30 | 455000 | 159635 |
| &nbsp;&nbsp; 5.38% 2/1/28 | 400000 | 350674 |
| &nbsp;&nbsp; Discovery <br> Communications LLC<br>|  |  |
| &nbsp;&nbsp; 5.00% 9/20/37 | 65000 | 55773 |
| &nbsp;&nbsp; 6.35% 6/1/40 | 75000 | 68825 |
| DISH DBS Corp. |  |  |
| &nbsp;&nbsp; 5.13% 6/1/29 | 530000 | 453240 |
| &nbsp;&nbsp; 5.25% 12/1/26 | 30000 | 29478 |
| &nbsp;&nbsp; 7.38% 7/1/28 | 95000 | 87536 |
| &nbsp;&nbsp; 7.75% 7/1/26 | 350000 | 346658 |
| EW Scripps Co. 9.88% 8/15/30 | 75000 | 70398 |
| &nbsp;&nbsp; Telecomunicaciones Digitales <br> SA 4.50% 1/30/30<br>| 250000 | 238678 |
| &nbsp;&nbsp; Time Warner Cable LLC 7.30% <br> 7/1/38<br>| 5775000 | 6310291 |
| &nbsp;&nbsp; Univision Communications, <br> Inc.<br>|  |  |
| &nbsp;&nbsp; 4.50% 5/1/29 | 145000 | 136768 |
| &nbsp;&nbsp; 8.00% 8/15/28 | 150000 | 155433 |
| &nbsp;&nbsp; 8.50% 7/31/31 | 475000 | 490505 |
| &nbsp;&nbsp; 9.38% 8/1/32 | 220000 | 234447 |
| &nbsp;&nbsp; Virgin Media Secured <br> Finance PLC 4.50% 8/15/30<br>| 300000 | 282852 |

---

---

| | | |
|:---|:---|:---|
|  | **Principal**<br> **Amount°**<br>| **Value**<br> **(U.S. $)**<br>|
| **CORPORATE BONDS (continued)** | **CORPORATE BONDS (continued)** | **CORPORATE BONDS (continued)** |
| **Media (continued)** | **Media (continued)** | **Media (continued)** |
| &nbsp;&nbsp; VTR Comunicaciones SpA <br> 5.13% 1/15/28<br>| 150000 | $144750 |
| &nbsp;&nbsp; VTR Finance NV 6.38% <br> 7/15/28<br>| 405000 | 392850 |
| Ziggo BV 4.88% 1/15/30 | 100000 | 94386 |
|  |  | **22522905** |
| **Metal Fabricate & Hardware–0.02%** | **Metal Fabricate & Hardware–0.02%** | **Metal Fabricate & Hardware–0.02%** |
| &nbsp;&nbsp; Vallourec SACA 7.50% <br> 4/15/32<br>| 314000 | 334556 |
|  |  | **334556** |
| **Mining–0.26%** | **Mining–0.26%** | **Mining–0.26%** |
| &nbsp;&nbsp; Alcoa Nederland Holding BV <br> 7.13% 3/15/31<br>| 500000 | 525591 |
| &nbsp;&nbsp; Alumina Pty. Ltd. 6.38% <br> 9/15/32<br>| 250000 | 256284 |
| &nbsp;&nbsp; Antofagasta PLC 2.38% <br> 10/14/30<br>| 200000 | 181262 |
| &nbsp;&nbsp; Aris Mining Corp. 8.00% <br> 10/31/29<br>| 250000 | 259920 |
| &nbsp;&nbsp; Capstone Copper Corp. 6.75% <br> 3/31/33<br>| 110000 | 113303 |
| &nbsp;&nbsp; Century Aluminum Co. 6.88% <br> 8/1/32<br>| 130000 | 134732 |
| &nbsp;&nbsp; Cia de Minas Buenaventura <br> SAA 6.80% 2/4/32<br>| 200000 | 205680 |
| &nbsp;&nbsp; Corp. Nacional del Cobre de <br> Chile<br>|  |  |
| &nbsp;&nbsp; 3.15% 1/14/30 | 50000 | 47375 |
| &nbsp;&nbsp; 5.95% 1/8/34 | 200000 | 209981 |
| &nbsp;&nbsp; 6.30% 9/8/53 | 200000 | 204983 |
| &nbsp;&nbsp; Endeavour Mining PLC 7.00% <br> 5/28/30<br>| 200000 | 206420 |
| &nbsp;&nbsp; ERO Copper Corp. 6.50% <br> 2/15/30<br>| 350000 | 349265 |
| First Quantum Minerals Ltd. |  |  |
| &nbsp;&nbsp; 7.25% 2/15/34 | 400000 | 413581 |
| &nbsp;&nbsp; 8.00% 3/1/33 | 215000 | 227009 |
| &nbsp;&nbsp; Freeport Indonesia PT 6.20% <br> 4/14/52<br>| 200000 | 204256 |
| Fresnillo PLC 4.25% 10/2/50 | 250000 | 198336 |
| &nbsp;&nbsp; Hudbay Minerals, Inc. 4.50% <br> 4/1/26<br>| 100000 | 99697 |
| &nbsp;&nbsp; Indonesia Asahan Aluminium <br> PT/Mineral Industri <br> Indonesia Persero PT 5.45% <br> 5/15/30<br>| 150000 | 154749 |
| &nbsp;&nbsp; Ivanhoe Mines Ltd. 7.88% <br> 1/23/30<br>| 235000 | 242712 |
| &nbsp;&nbsp; Navoi Mining & Metallurgical <br> Combinat 6.95% 10/17/31<br>| 200000 | 213028 |
| &nbsp;&nbsp; Navoiyuran State Enterprise <br> 6.70% 7/2/30<br>| 200000 | 200184 |
| &nbsp;&nbsp; Nexa Resources SA 6.75% <br> 4/9/34<br>| 200000 | 212392 |

---

*LVIP Fidelity Institutional AM*<sup>®</sup> *Total Bond Fund–13*

------

**LVIP Fidelity Institutional AM**<sup>®</sup> **Total Bond Fund**

**Schedule of Investments (continued)**

---

| | | |
|:---|:---|:---|
|  | **Principal**<br> **Amount°**<br>| **Value**<br> **(U.S. $)**<br>|
| **CORPORATE BONDS (continued)** | **CORPORATE BONDS (continued)** | **CORPORATE BONDS (continued)** |
| **Mining (continued)** | **Mining (continued)** | **Mining (continued)** |
| Novelis Corp. |  |  |
| &nbsp;&nbsp; 6.38% 8/15/33 | 70000 | $70724 |
| &nbsp;&nbsp; 6.88% 1/30/30 | 300000 | 311092 |
| &nbsp;&nbsp; Volcan Cia Minera SAA 8.75% <br> 1/24/30<br>| 350000 | 363930 |
|  |  | **5606486** |
| **Miscellaneous Manufacturing–0.03%** | **Miscellaneous Manufacturing–0.03%** | **Miscellaneous Manufacturing–0.03%** |
| &nbsp;&nbsp; Amsted Industries, Inc. 6.38% <br> 3/15/33<br>| 135000 | 138561 |
| Axon Enterprise, Inc. |  |  |
| &nbsp;&nbsp; 6.13% 3/15/30 | 175000 | 179730 |
| &nbsp;&nbsp; 6.25% 3/15/33 | 200000 | 205859 |
| Enpro, Inc. 6.13% 6/1/33 | 135000 | 137976 |
|  |  | **662126** |
| **Oil & Gas–2.17%** | **Oil & Gas–2.17%** | **Oil & Gas–2.17%** |
| &nbsp;&nbsp; Adnoc Murban Rsc Ltd. 5.13% <br> 9/11/54<br>| 200000 | 189665 |
| &nbsp;&nbsp; Ascent Resources Utica <br> Holdings LLC/ARU Finance <br> Corp. 6.63% 7/15/33<br>| 60000 | 61000 |
| Bapco Energies BSC Closed |  |  |
| &nbsp;&nbsp; 7.50% 10/25/27 | 150000 | 155620 |
| &nbsp;&nbsp; 8.38% 11/7/28 | 50000 | 54001 |
| &nbsp;&nbsp; Baytex Energy Corp. 7.38% <br> 3/15/32<br>| 140000 | 137075 |
| California Resources Corp. |  |  |
| &nbsp;&nbsp; 7.00% 1/15/34 | 15000 | 14897 |
| &nbsp;&nbsp; 8.25% 6/15/29 | 344000 | 358739 |
| &nbsp;&nbsp; Calumet Specialty Products <br> Partners LP/Calumet <br> Finance Corp.<br>|  |  |
| &nbsp;&nbsp; 8.13% 1/15/27 | 170000 | 168147 |
| &nbsp;&nbsp; 9.75% 7/15/28 | 300000 | 298221 |
| &nbsp;&nbsp; Canacol Energy Ltd. 5.75% <br> 11/24/28<br>| 530000 | 182187 |
| &nbsp;&nbsp; Canadian Natural Resources <br> Ltd. 2.95% 7/15/30<br>| 4730000 | 4431830 |
| CITGO Petroleum Corp. |  |  |
| &nbsp;&nbsp; 6.38% 6/15/26 | 200000 | 199989 |
| &nbsp;&nbsp; 8.38% 1/15/29 | 50000 | 51960 |
| &nbsp;&nbsp; CNX Resources Corp. 7.25% <br> 3/1/32<br>| 250000 | 259357 |
| Comstock Resources, Inc. |  |  |
| &nbsp;&nbsp; 5.88% 1/15/30 | 250000 | 240764 |
| &nbsp;&nbsp; 6.75% 3/1/29 | 200000 | 199673 |
| &nbsp;&nbsp; Cosan Overseas Ltd. 8.25% <br> 11/5/25<br>| 200000 | 200254 |
| &nbsp;&nbsp; CVR Energy, Inc. 8.50% <br> 1/15/29<br>| 180000 | 183970 |
| Ecopetrol SA |  |  |
| &nbsp;&nbsp; 8.38% 1/19/36 | 50000 | 51639 |
| &nbsp;&nbsp; 8.88% 1/13/33 | 350000 | 379394 |

---

---

| | | |
|:---|:---|:---|
|  | **Principal**<br> **Amount°**<br>| **Value**<br> **(U.S. $)**<br>|
| **CORPORATE BONDS (continued)** | **CORPORATE BONDS (continued)** | **CORPORATE BONDS (continued)** |
| **Oil & Gas (continued)** | **Oil & Gas (continued)** | **Oil & Gas (continued)** |
| &nbsp;&nbsp; Empresa Nacional del <br> Petroleo 5.95% 7/30/34<br>| 200000 | $210639 |
| Energean PLC 6.50% 4/30/27 | 450000 | 447187 |
| Geopark Ltd. 8.75% 1/31/30 | 250000 | 226000 |
| &nbsp;&nbsp; Gran Tierra Energy, Inc. <br> 9.50% 10/15/29<br>| 235000 | 198856 |
| Hess Corp. 7.13% 3/15/33 | 1910000 | 2216517 |
| &nbsp;&nbsp; KazMunayGas National Co. <br> JSC<br>|  |  |
| &nbsp;&nbsp; 5.38% 4/24/30 | 100000 | 102754 |
| &nbsp;&nbsp; 5.75% 4/19/47 | 50000 | 46562 |
| Kosmos Energy Ltd. |  |  |
| &nbsp;&nbsp; 7.13% 4/4/26 | 210000 | 208730 |
| &nbsp;&nbsp; 7.50% 3/1/28 | 85000 | 74276 |
| &nbsp;&nbsp; 7.75% 5/1/27 | 75000 | 72937 |
| &nbsp;&nbsp; 8.75% 10/1/31 | 550000 | 426669 |
| &nbsp;&nbsp; Leviathan Bond Ltd. 6.50% <br> 6/30/27<br>| 140000 | 140315 |
| &nbsp;&nbsp; MC Brazil Downstream <br> Trading SARL 7.25% 6/30/31<br>| 228052 | 195274 |
| &nbsp;&nbsp; Medco Maple Tree Pte. Ltd. <br> 8.96% 4/27/29<br>| 250000 | 260667 |
| &nbsp;&nbsp; Moss Creek Resources <br> Holdings, Inc. 8.25% 9/1/31<br>| 211000 | 206761 |
| &nbsp;&nbsp; Nabors Industries Ltd. 7.50% <br> 1/15/28<br>| 200000 | 199856 |
| &nbsp;&nbsp; Nabors Industries, Inc. 8.88% <br> 8/15/31<br>| 150000 | 139696 |
| Occidental Petroleum Corp. |  |  |
| &nbsp;&nbsp; 5.38% 1/1/32 | 1285000 | 1306822 |
| &nbsp;&nbsp; 5.55% 10/1/34 | 895000 | 908084 |
| &nbsp;&nbsp; 6.13% 1/1/31 | 3158000 | 3326530 |
| ORLEN SA 6.00% 1/30/35 | 200000 | 209159 |
| Parkland Corp. |  |  |
| &nbsp;&nbsp; 4.63% 5/1/30 | 350000 | 340292 |
| &nbsp;&nbsp; 6.63% 8/15/32 | 100000 | 102756 |
| &nbsp;&nbsp; PBF Holding Co. LLC/PBF <br> Finance Corp.<br>|  |  |
| &nbsp;&nbsp; 6.00% 2/15/28 | 30000 | 29816 |
| &nbsp;&nbsp; 7.88% 9/15/30 | 380000 | 375181 |
| &nbsp;&nbsp; 9.88% 3/15/30 | 200000 | 209612 |
| &nbsp;&nbsp; Pertamina Persero PT 4.18% <br> 1/21/50<br>| 50000 | 39133 |
| ‡Petroleos de Venezuela SA |  |  |
| &nbsp;&nbsp; 5.38% 4/12/27 | 450000 | 72225 |
| &nbsp;&nbsp; 9.75% 5/17/35 | 300000 | 54000 |
| Petroleos Mexicanos |  |  |
| &nbsp;&nbsp; 5.35% 2/12/28 | 2060000 | 2051221 |
| &nbsp;&nbsp; 5.95% 1/28/31 | 9320000 | 9027441 |
| &nbsp;&nbsp; 6.50% 3/13/27 | 250000 | 253125 |
| &nbsp;&nbsp; 6.63% 6/15/35 | 500000 | 476776 |
| &nbsp;&nbsp; 6.70% 2/16/32 | 165000 | 163515 |
| &nbsp;&nbsp; 6.75% 9/21/47 | 1239000 | 1022554 |
| &nbsp;&nbsp; 7.69% 1/23/50 | 9870000 | 8973963 |
| &nbsp;&nbsp; 10.00% 2/7/33 | 200000 | 232100 |

---

*LVIP Fidelity Institutional AM*<sup>®</sup> *Total Bond Fund–14*

------

**LVIP Fidelity Institutional AM**<sup>®</sup> **Total Bond Fund**

**Schedule of Investments (continued)**

---

| | | |
|:---|:---|:---|
|  | **Principal**<br> **Amount°**<br>| **Value**<br> **(U.S. $)**<br>|
| **CORPORATE BONDS (continued)** | **CORPORATE BONDS (continued)** | **CORPORATE BONDS (continued)** |
| **Oil & Gas (continued)** | **Oil & Gas (continued)** | **Oil & Gas (continued)** |
| Petronas Capital Ltd. |  |  |
| &nbsp;&nbsp; 3.40% 4/28/61 | 100000 | $68962 |
| &nbsp;&nbsp; 3.50% 4/21/30 | 100000 | 97222 |
| QatarEnergy |  |  |
| &nbsp;&nbsp; 1.38% 9/12/26 | 300000 | 291999 |
| &nbsp;&nbsp; 2.25% 7/12/31 | 200000 | 179996 |
| &nbsp;&nbsp; 3.30% 7/12/51 | 350000 | 246175 |
| Saudi Arabian Oil Co. |  |  |
| &nbsp;&nbsp; 2.25% 11/24/30 | 300000 | 271047 |
| &nbsp;&nbsp; 3.25% 11/24/50 | 150000 | 102631 |
| &nbsp;&nbsp; 3.50% 4/16/29 | 300000 | 293093 |
| &nbsp;&nbsp; 4.25% 4/16/39 | 300000 | 272380 |
| &nbsp;&nbsp; 5.88% 7/17/64 | 200000 | 197000 |
| &nbsp;&nbsp; 6.38% 6/2/55 | 200000 | 212705 |
| &nbsp;&nbsp; SEPLAT Energy PLC 9.13% <br> 3/21/30<br>| 250000 | 256937 |
| Sunoco LP |  |  |
| &nbsp;&nbsp; 5.63% 3/15/31 | 70000 | 69484 |
| &nbsp;&nbsp; 5.88% 3/15/34 | 70000 | 69394 |
| &nbsp;&nbsp; 6.25% 7/1/33 | 250000 | 254461 |
| μ7.88% 9/18/30 | 205000 | 208221 |
| &nbsp;&nbsp; Sunoco LP/Sunoco Finance <br> Corp.<br>|  |  |
| &nbsp;&nbsp; 4.50% 5/15/29 | 200000 | 195108 |
| &nbsp;&nbsp; 5.88% 3/15/28 | 200000 | 200052 |
| Talos Production, Inc. |  |  |
| &nbsp;&nbsp; 9.00% 2/1/29 | 100000 | 103403 |
| &nbsp;&nbsp; 9.38% 2/1/31 | 100000 | 104153 |
| Tecpetrol SA 7.63% 1/22/33 | 50000 | 50950 |
| &nbsp;&nbsp; Tengizchevroil Finance Co. <br> International Ltd. 3.25% <br> 8/15/30<br>| 100000 | 92193 |
| &nbsp;&nbsp; Transocean Aquila Ltd. 8.00% <br> 9/30/28<br>| 122923 | 126442 |
| Transocean International Ltd. |  |  |
| &nbsp;&nbsp; 7.88% 10/15/32 | 40000 | 40000 |
| &nbsp;&nbsp; 8.00% 2/1/27 | 400000 | 399444 |
| &nbsp;&nbsp; 8.25% 5/15/29 | 150000 | 147880 |
| &nbsp;&nbsp; 8.75% 2/15/30 | 63750 | 67076 |
| &nbsp;&nbsp; Tullow Oil PLC 10.25% <br> 5/15/26<br>| 319000 | 272346 |
| YPF SA 8.25% 1/17/34 | 50000 | 48144 |
|  |  | **47305281** |
| **Oil & Gas Services–0.08%** | **Oil & Gas Services–0.08%** | **Oil & Gas Services–0.08%** |
| &nbsp;&nbsp; Guara Norte SARL 5.20% <br> 6/15/34<br>| 115243 | 112862 |
| Kodiak Gas Services LLC |  |  |
| &nbsp;&nbsp; 6.50% 10/1/33 | 215000 | 218908 |
| &nbsp;&nbsp; 6.75% 10/1/35 | 110000 | 112943 |
| SESI LLC 7.88% 9/30/30 | 50000 | 50000 |
| &nbsp;&nbsp; Star Holding LLC 8.75% <br> 8/1/31<br>| 100000 | 99221 |
| TGS ASA 8.50% 1/15/30 | 150000 | 154084 |

---

---

| | | |
|:---|:---|:---|
|  | **Principal**<br> **Amount°**<br>| **Value**<br> **(U.S. $)**<br>|
| **CORPORATE BONDS (continued)** | **CORPORATE BONDS (continued)** | **CORPORATE BONDS (continued)** |
| **Oil & Gas Services (continued)** | **Oil & Gas Services (continued)** | **Oil & Gas Services (continued)** |
| &nbsp;&nbsp; USA Compression <br> Partners LP/USA <br> Compression Finance Corp.<br>|  |  |
| &nbsp;&nbsp; 6.25% 10/1/33 | 155000 | $155593 |
| &nbsp;&nbsp; 6.88% 9/1/27 | 85000 | 84981 |
| Viridien 10.00% 10/15/30 | 135000 | 138778 |
| WBI Operating LLC |  |  |
| &nbsp;&nbsp; 6.25% 10/15/30 | 110000 | 110000 |
| &nbsp;&nbsp; 6.50% 10/15/33 | 110000 | 110000 |
| &nbsp;&nbsp; Yinson Boronia Production <br> BV 8.95% 7/31/42<br>| 294327 | 327429 |
|  |  | **1674799** |
| **Packaging & Containers–0.07%** | **Packaging & Containers–0.07%** | **Packaging & Containers–0.07%** |
| &nbsp;&nbsp; Ardagh Metal Packaging <br> Finance USA LLC/Ardagh <br> Metal Packaging Finance <br> PLC<br>|  |  |
| &nbsp;&nbsp; 4.00% 9/1/29 | 225000 | 208241 |
| &nbsp;&nbsp; 6.00% 6/15/27 | 140000 | 139966 |
| &nbsp;&nbsp; Clydesdale Acquisition <br> Holdings, Inc.<br>|  |  |
| &nbsp;&nbsp; 6.88% 1/15/30 | 250000 | 256452 |
| &nbsp;&nbsp; 8.75% 4/15/30 | 300000 | 308173 |
| &nbsp;&nbsp; Crown Americas LLC 5.88% <br> 6/1/33<br>| 190000 | 191921 |
| &nbsp;&nbsp; Graham Packaging Co., Inc. <br> 7.13% 8/15/28<br>| 80000 | 80142 |
| &nbsp;&nbsp; Graphic Packaging <br> International LLC<br>|  |  |
| &nbsp;&nbsp; 3.75% 2/1/30 | 100000 | 93478 |
| &nbsp;&nbsp; 6.38% 7/15/32 | 100000 | 101547 |
| Sealed Air Corp. |  |  |
| &nbsp;&nbsp; 5.00% 4/15/29 | 40000 | 39777 |
| &nbsp;&nbsp; 6.50% 7/15/32 | 50000 | 51785 |
| &nbsp;&nbsp; Sealed Air Corp./Sealed Air <br> Corp. U.S. 7.25% 2/15/31<br>| 100000 | 104932 |
|  |  | **1576414** |
| **Pharmaceuticals–0.64%** | **Pharmaceuticals–0.64%** | **Pharmaceuticals–0.64%** |
| &nbsp;&nbsp; 1261229 BC Ltd. 10.00% <br> 4/15/32<br>| 500000 | 512526 |
| &nbsp;&nbsp; AdaptHealth LLC 5.13% <br> 3/1/30<br>| 150000 | 143044 |
| &nbsp;&nbsp; Bausch Health Americas, Inc. <br> 8.50% 1/31/27<br>| 85000 | 84150 |
| Bausch Health Cos., Inc. |  |  |
| &nbsp;&nbsp; 4.88% 6/1/28 | 250000 | 223750 |
| &nbsp;&nbsp; 5.25% 1/30/30 | 50000 | 35250 |
| &nbsp;&nbsp; 11.00% 9/30/28 | 110000 | 114402 |
| &nbsp;&nbsp; Bayer U.S. Finance II LLC <br> 4.38% 12/15/28<br>| 4270000 | 4254779 |
| &nbsp;&nbsp; Bayer U.S. Finance LLC 6.50% <br> 11/21/33<br>| 700000 | 755108 |

---

*LVIP Fidelity Institutional AM*<sup>®</sup> *Total Bond Fund–15*

------

**LVIP Fidelity Institutional AM**<sup>®</sup> **Total Bond Fund**

**Schedule of Investments (continued)**

---

| | | |
|:---|:---|:---|
|  | **Principal**<br> **Amount°**<br>| **Value**<br> **(U.S. $)**<br>|
| **CORPORATE BONDS (continued)** | **CORPORATE BONDS (continued)** | **CORPORATE BONDS (continued)** |
| **Pharmaceuticals (continued)** | **Pharmaceuticals (continued)** | **Pharmaceuticals (continued)** |
| CVS Health Corp. |  |  |
| &nbsp;&nbsp; 3.25% 8/15/29 | 5640000 | $5406771 |
| μ6.75% 12/10/54 | 231000 | 238446 |
| μ7.00% 3/10/55 | 350000 | 367410 |
| Grifols SA 4.75% 10/15/28 | 100000 | 97136 |
| &nbsp;&nbsp; Organon & Co./Organon <br> Foreign Debt Co-Issuer BV<br>|  |  |
| &nbsp;&nbsp; 4.13% 4/30/28 | 300000 | 289843 |
| &nbsp;&nbsp; 5.13% 4/30/31 | 285000 | 249674 |
| &nbsp;&nbsp; 6.75% 5/15/34 | 30000 | 28767 |
| &nbsp;&nbsp; 7.88% 5/15/34 | 155000 | 143592 |
| Owens & Minor, Inc. |  |  |
| &nbsp;&nbsp; 4.50% 3/31/29 | 80000 | 64207 |
| &nbsp;&nbsp; 6.63% 4/1/30 | 90000 | 74250 |
| &nbsp;&nbsp; Teva Pharmaceutical Finance <br> Netherlands III BV<br>|  |  |
| &nbsp;&nbsp; 3.15% 10/1/26 | 59000 | 57951 |
| &nbsp;&nbsp; 6.00% 12/1/32 | 330000 | 343690 |
| &nbsp;&nbsp; 7.88% 9/15/29 | 200000 | 218259 |
| &nbsp;&nbsp; Teva Pharmaceutical Finance <br> Netherlands IV BV 5.75% <br> 12/1/30<br>| 265000 | 272926 |
|  |  | **13975931** |
| **Pipelines–1.43%** | **Pipelines–1.43%** | **Pipelines–1.43%** |
| &nbsp;&nbsp; Antero Midstream <br> Partners LP/Antero <br> Midstream Finance Corp. <br> 5.75% 10/15/33<br>| 70000 | 69690 |
| &nbsp;&nbsp; CNX Midstream Partners LP <br> 4.75% 4/15/30<br>| 200000 | 191787 |
| &nbsp;&nbsp; CQP Holdco LP/BIP-V <br> Chinook Holdco LLC 7.50% <br> 12/15/33<br>| 250000 | 271300 |
| &nbsp;&nbsp; Delek Logistics <br> Partners LP/Delek Logistics <br> Finance Corp.<br>|  |  |
| &nbsp;&nbsp; 7.13% 6/1/28 | 350000 | 351133 |
| &nbsp;&nbsp; 7.38% 6/30/33 | 65000 | 66098 |
| &nbsp;&nbsp; 8.63% 3/15/29 | 200000 | 208560 |
| &nbsp;&nbsp; EIG Pearl Holdings SARL <br> 3.55% 8/31/36<br>| 245863 | 226778 |
| Energy Transfer LP |  |  |
| &nbsp;&nbsp; 6.10% 12/1/28 | 4235000 | 4456038 |
| μ6.50% 2/15/56 | 14000 | 13934 |
| μ6.63% 2/15/28 | 250000 | 249521 |
| μ6.75% 2/15/56 | 14000 | 13975 |
| μ7.13% 5/15/30 | 80000 | 82664 |
| &nbsp;&nbsp; 7.38% 2/1/31 | 100000 | 104448 |
| &nbsp;&nbsp; Galaxy Pipeline Assets Bidco <br> Ltd.<br>|  |  |
| &nbsp;&nbsp; 2.16% 3/31/34 | 69919 | 63483 |
| &nbsp;&nbsp; 2.63% 3/31/36 | 300000 | 264248 |

---

---

| | | |
|:---|:---|:---|
|  | **Principal**<br> **Amount°**<br>| **Value**<br> **(U.S. $)**<br>|
| **CORPORATE BONDS (continued)** | **CORPORATE BONDS (continued)** | **CORPORATE BONDS (continued)** |
| **Pipelines (continued)** | **Pipelines (continued)** | **Pipelines (continued)** |
| &nbsp;&nbsp; Genesis Energy LP/Genesis <br> Energy Finance Corp. 8.00% <br> 5/15/33<br>| 265000 | $277176 |
| &nbsp;&nbsp; Global Partners LP/GLP <br> Finance Corp.<br>|  |  |
| &nbsp;&nbsp; 6.88% 1/15/29 | 150000 | 151309 |
| &nbsp;&nbsp; 7.13% 7/1/33 | 50000 | 51249 |
| Golar LNG Ltd. |  |  |
| &nbsp;&nbsp; 7.50% 10/2/30 | 260000 | 257599 |
| &nbsp;&nbsp; 7.75% 9/19/29 | 400000 | 403768 |
| &nbsp;&nbsp; Greensaif Pipelines Bidco <br> SARL<br>|  |  |
| &nbsp;&nbsp; 6.13% 2/23/38 | 200000 | 212907 |
| &nbsp;&nbsp; 6.51% 2/23/42 | 200000 | 216296 |
| Harvest Midstream I LP |  |  |
| &nbsp;&nbsp; 7.50% 9/1/28 | 200000 | 202152 |
| &nbsp;&nbsp; 7.50% 5/15/32 | 50000 | 51075 |
| &nbsp;&nbsp; Hess Midstream <br> Operations LP<br>|  |  |
| &nbsp;&nbsp; 4.25% 2/15/30 | 65000 | 63000 |
| &nbsp;&nbsp; 5.13% 6/15/28 | 300000 | 299661 |
| &nbsp;&nbsp; 5.88% 3/1/28 | 150000 | 152907 |
| &nbsp;&nbsp; Howard Midstream Energy <br> Partners LLC<br>|  |  |
| &nbsp;&nbsp; 6.63% 1/15/34 | 70000 | 71370 |
| &nbsp;&nbsp; 7.38% 7/15/32 | 100000 | 103803 |
| Kinetik Holdings LP |  |  |
| &nbsp;&nbsp; 5.88% 6/15/30 | 150000 | 150872 |
| &nbsp;&nbsp; 6.63% 12/15/28 | 250000 | 256606 |
| &nbsp;&nbsp; New Fortress Energy, Inc. <br> 6.50% 9/30/26<br>| 70000 | 17588 |
| &nbsp;&nbsp; NFE Financing LLC 12.00% <br> 11/15/29<br>| 340000 | 99989 |
| &nbsp;&nbsp; Oleoducto Central SA 4.00% <br> 7/14/27<br>| 100000 | 98309 |
| ONEOK, Inc. |  |  |
| &nbsp;&nbsp; 5.05% 11/1/34 | 1353000 | 1334301 |
| &nbsp;&nbsp; 6.50% 9/1/30 | 2990000 | 3212947 |
| &nbsp;&nbsp; •Plains All American <br> Pipeline LP 8.58% (3 mo. <br> USD Term SOFR + 4.37%) <br> 10/30/25<br>| 940000 | 941409 |
| &nbsp;&nbsp; Plains All American <br> Pipeline LP/PAA Finance <br> Corp. 3.55% 12/15/29<br>| 2230000 | 2153115 |
| &nbsp;&nbsp; Prairie Acquiror LP 9.00% <br> 8/1/29<br>| 130000 | 135344 |
| Rockies Express Pipeline LLC |  |  |
| &nbsp;&nbsp; 4.95% 7/15/29 | 200000 | 198378 |
| &nbsp;&nbsp; 6.75% 3/15/33 | 250000 | 260954 |
| &nbsp;&nbsp; μSouth Bow Canadian <br> Infrastructure Holdings Ltd. <br> 7.50% 3/1/55<br>| 135000 | 143352 |
| &nbsp;&nbsp; Southern Gas Corridor CJSC <br> 6.88% 3/24/26<br>| 150000 | 151550 |

---

*LVIP Fidelity Institutional AM*<sup>®</sup> *Total Bond Fund–16*

------

**LVIP Fidelity Institutional AM**<sup>®</sup> **Total Bond Fund**

**Schedule of Investments (continued)**

---

| | | |
|:---|:---|:---|
|  | **Principal**<br> **Amount°**<br>| **Value**<br> **(U.S. $)**<br>|
| **CORPORATE BONDS (continued)** | **CORPORATE BONDS (continued)** | **CORPORATE BONDS (continued)** |
| **Pipelines (continued)** | **Pipelines (continued)** | **Pipelines (continued)** |
| &nbsp;&nbsp; Tallgrass Energy <br> Partners LP/Tallgrass <br> Energy Finance Corp.<br>|  |  |
| &nbsp;&nbsp; 5.50% 1/15/28 | 300000 | $298474 |
| &nbsp;&nbsp; 6.00% 12/31/30 | 820000 | 809774 |
| &nbsp;&nbsp; 6.00% 9/1/31 | 70000 | 68490 |
| &nbsp;&nbsp; 6.75% 3/15/34 | 70000 | 69297 |
| Targa Resources Corp. |  |  |
| &nbsp;&nbsp; 4.90% 9/15/30 | 658000 | 668349 |
| &nbsp;&nbsp; 5.65% 2/15/36 | 1584000 | 1621879 |
| &nbsp;&nbsp; Targa Resources <br> Partners LP/Targa <br> Resources Partners Finance <br> Corp. 5.00% 1/15/28<br>| 4355000 | 4359867 |
| &nbsp;&nbsp; TMS Issuer SARL 5.78% <br> 8/23/32<br>| 100000 | 104875 |
| &nbsp;&nbsp; TransMontaigne <br> Partners LLC 8.50% 6/15/30<br>| 55000 | 57311 |
| &nbsp;&nbsp; Venture Global Plaquemines <br> LNG LLC<br>|  |  |
| &nbsp;&nbsp; 6.50% 1/15/34 | 265000 | 278954 |
| &nbsp;&nbsp; 6.75% 1/15/36 | 205000 | 217746 |
| &nbsp;&nbsp; Williams Cos., Inc. 2.60% <br> 3/15/31<br>| 4820000 | 4376484 |
|  |  | **31234143** |
| **Real Estate–0.23%** | **Real Estate–0.23%** | **Real Estate–0.23%** |
| &nbsp;&nbsp; Alpha Star Holding IX Ltd. <br> 7.00% 8/26/28<br>| 200000 | 204809 |
| &nbsp;&nbsp; Anywhere Real Estate <br> Group LLC/Anywhere <br> Co-Issuer Corp. 7.00% <br> 4/15/30<br>| 70000 | 70840 |
| &nbsp;&nbsp; Anywhere Real Estate <br> Group LLC/Realogy <br> Co-Issuer Corp.<br>|  |  |
| &nbsp;&nbsp; 5.75% 1/15/29 | 80000 | 76888 |
| &nbsp;&nbsp; 9.75% 4/15/30 | 65000 | 70937 |
| &nbsp;&nbsp; Aroundtown SA 3.63% <br> 4/10/31<br>| 295000 | 359420 |
| &nbsp;&nbsp; Blackstone Property Partners <br> Europe Holdings SARL <br> 1.63% 4/20/30<br>| 300000 | 325763 |
| &nbsp;&nbsp; CBRE Europe Logistics <br> Partners SCA SICAV-SIF <br> 3.50% 9/22/32<br>| 100000 | 116396 |
| &nbsp;&nbsp; CBRE Open-Ended Funds <br> SCA SICAV-SIF 4.75% <br> 3/27/34<br>| 125000 | 154835 |
| &nbsp;&nbsp; Citycon Treasury BV 5.38% <br> 7/8/31<br>| 100000 | 118058 |
| &nbsp;&nbsp; Corp. Inmobiliaria Vesta SAB <br> de CV 5.50% 1/30/33<br>| 200000 | 202100 |
| &nbsp;&nbsp; CPI Property Group SA 6.00% <br> 1/27/32<br>| 205000 | 245800 |

---

---

| | | |
|:---|:---|:---|
|  | **Principal**<br> **Amount°**<br>| **Value**<br> **(U.S. $)**<br>|
| **CORPORATE BONDS (continued)** | **CORPORATE BONDS (continued)** | **CORPORATE BONDS (continued)** |
| **Real Estate (continued)** | **Real Estate (continued)** | **Real Estate (continued)** |
| &nbsp;&nbsp; Dar Al-Arkan Sukuk Co. Ltd. <br> 7.25% 7/2/30<br>| 200000 | $203355 |
| &nbsp;&nbsp; Deutsche EuroShop AG 4.50% <br> 10/15/30<br>| 100000 | 118346 |
| &nbsp;&nbsp; @Fideicomiso Irrevocable de <br> Administracion y Fuente de <br> Pago Numero CIB/4323 <br> 11.00% 9/12/31<br>| 464600 | 255530 |
| &nbsp;&nbsp; μGrand City Properties SA <br> 1.50% 3/9/26<br>| 100000 | 114812 |
| Heimstaden Bostad AB |  |  |
| μ3.63% 10/13/26 | 105000 | 121233 |
| &nbsp;&nbsp; 3.88% 11/5/29 | 170000 | 202005 |
| Howard Hughes Corp. |  |  |
| &nbsp;&nbsp; 4.13% 2/1/29 | 70000 | 67150 |
| &nbsp;&nbsp; 4.38% 2/1/31 | 100000 | 93756 |
| &nbsp;&nbsp; Kennedy-Wilson, Inc. 4.75% <br> 2/1/30<br>| 150000 | 140055 |
| &nbsp;&nbsp; LEG Immobilien SE 3.88% <br> 1/20/35<br>| 200000 | 231681 |
| &nbsp;&nbsp; Logicor Financing SARL <br> 1.63% 1/17/30<br>| 305000 | 333353 |
| P3 Group SARL |  |  |
| &nbsp;&nbsp; 3.75% 4/2/33 | 100000 | 116865 |
| &nbsp;&nbsp; 4.00% 4/19/32 | 175000 | 208899 |
| &nbsp;&nbsp; Prologis International <br> Funding II SA 4.38% 7/1/36<br>| 275000 | 336035 |
| &nbsp;&nbsp; Samhallsbyggnadsbolaget I <br> Norden Holding AB 2.25% <br> 7/12/27<br>| 215000 | 232201 |
| &nbsp;&nbsp; Shurgard Luxembourg SARL <br> 4.00% 5/27/35<br>| 200000 | 236074 |
| &nbsp;&nbsp; Sirius Real Estate Ltd. 4.00% <br> 1/22/32<br>| 100000 | 117013 |
|  |  | **5074209** |
| **Real Estate Investment Trusts–1.36%** | **Real Estate Investment Trusts–1.36%** | **Real Estate Investment Trusts–1.36%** |
| Agree LP 2.90% 10/1/30 | 2340000 | 2182097 |
| &nbsp;&nbsp; American Homes 4 Rent LP <br> 4.95% 6/15/30<br>| 1538000 | 1566025 |
| &nbsp;&nbsp; American Tower Corp. 3.63% <br> 5/30/32<br>| 150000 | 179042 |
| COPT Defense Properties LP |  |  |
| &nbsp;&nbsp; 2.75% 4/15/31 | 4950000 | 4481157 |
| &nbsp;&nbsp; 4.50% 10/15/30 | 178000 | 176826 |
| &nbsp;&nbsp; CTR <br> Partnership LP/CareTrust <br> Capital Corp. 3.88% 6/30/28<br>| 150000 | 145898 |
| &nbsp;&nbsp; EF Holdco/EF Cayman <br> Holdings/Ellington Fin REIT <br> Cayman/TRS/EF Cayman <br> Non-MTM 7.38% 9/30/30<br>| 140000 | 140000 |
| &nbsp;&nbsp; Great Portland Estates PLC <br> 5.38% 9/25/31<br>| 340000 | 457840 |

---

*LVIP Fidelity Institutional AM*<sup>®</sup> *Total Bond Fund–17*

------

**LVIP Fidelity Institutional AM**<sup>®</sup> **Total Bond Fund**

**Schedule of Investments (continued)**

---

| | | |
|:---|:---|:---|
|  | **Principal**<br> **Amount°**<br>| **Value**<br> **(U.S. $)**<br>|
| **CORPORATE BONDS (continued)** | **CORPORATE BONDS (continued)** | **CORPORATE BONDS (continued)** |
| **Real Estate Investment Trusts (continued)** | **Real Estate Investment Trusts (continued)** | **Real Estate Investment Trusts (continued)** |
| &nbsp;&nbsp; Ladder Capital Finance <br> Holdings LLLP/Ladder <br> Capital Finance Corp.<br>|  |  |
| &nbsp;&nbsp; 4.75% 6/15/29 | 100000 | $98129 |
| &nbsp;&nbsp; 7.00% 7/15/31 | 155000 | 162500 |
| Millrose Properties, Inc. |  |  |
| &nbsp;&nbsp; 6.25% 9/15/32 | 70000 | 70183 |
| &nbsp;&nbsp; 6.38% 8/1/30 | 135000 | 137294 |
| &nbsp;&nbsp; MPT Operating <br> Partnership LP/MPT <br> Finance Corp.<br>|  |  |
| &nbsp;&nbsp; 3.50% 3/15/31 | 250000 | 183877 |
| &nbsp;&nbsp; 4.63% 8/1/29 | 200000 | 166904 |
| &nbsp;&nbsp; 5.00% 10/15/27 | 450000 | 435927 |
| &nbsp;&nbsp; 8.50% 2/15/32 | 130000 | 138133 |
| &nbsp;&nbsp; Omega Healthcare Investors, <br> Inc.<br>|  |  |
| &nbsp;&nbsp; 3.25% 4/15/33 | 300000 | 264692 |
| &nbsp;&nbsp; 3.63% 10/1/29 | 2000000 | 1918932 |
| &nbsp;&nbsp; Phillips Edison Grocery <br> Center Operating <br> Partnership I LP 2.63% <br> 11/15/31<br>| 2470000 | 2192102 |
| &nbsp;&nbsp; Prologis Euro Finance LLC <br> 3.25% 9/22/32<br>| 100000 | 116908 |
| &nbsp;&nbsp; Realty Income Corp. 3.38% <br> 6/20/31<br>| 100000 | 117753 |
| &nbsp;&nbsp; RHP Hotel <br> Properties LP/RHP Finance <br> Corp. 6.50% 6/15/33<br>| 130000 | 133886 |
| Rithm Capital Corp. |  |  |
| &nbsp;&nbsp; 8.00% 4/1/29 | 100000 | 102356 |
| &nbsp;&nbsp; 8.00% 7/15/30 | 55000 | 56306 |
| &nbsp;&nbsp; Sabra Health Care LP 3.20% <br> 12/1/31<br>| 2860000 | 2596951 |
| Starwood Property Trust, Inc. |  |  |
| &nbsp;&nbsp; 5.25% 10/15/28 | 70000 | 70020 |
| &nbsp;&nbsp; 5.75% 1/15/31 | 140000 | 139913 |
| &nbsp;&nbsp; 6.50% 7/1/30 | 250000 | 258586 |
| &nbsp;&nbsp; 6.50% 10/15/30 | 65000 | 67143 |
| &nbsp;&nbsp; 7.25% 4/1/29 | 150000 | 157507 |
| &nbsp;&nbsp; Uniti Group LP/Uniti Fiber <br> Holdings, Inc./CSL <br> Capital LLC 6.00% 1/15/30<br>| 300000 | 271622 |
| &nbsp;&nbsp; Uniti Group LP/Uniti Group <br> Finance 2019, Inc./CSL <br> Capital LLC<br>|  |  |
| &nbsp;&nbsp; 6.50% 2/15/29 | 480000 | 450785 |
| &nbsp;&nbsp; 8.63% 6/15/32 | 165000 | 157633 |
| &nbsp;&nbsp; 10.50% 2/15/28 | 287000 | 302268 |
| &nbsp;&nbsp; Ventas Realty LP 3.00% <br> 1/15/30<br>| 4570000 | 4326265 |
| VICI Properties LP |  |  |
| &nbsp;&nbsp; 4.95% 2/15/30 | 2800000 | 2832477 |
| &nbsp;&nbsp; 5.63% 4/1/35 | 1170000 | 1197975 |

---

---

| | | |
|:---|:---|:---|
|  | **Principal**<br> **Amount°**<br>| **Value**<br> **(U.S. $)**<br>|
| **CORPORATE BONDS (continued)** | **CORPORATE BONDS (continued)** | **CORPORATE BONDS (continued)** |
| **Real Estate Investment Trusts (continued)** | **Real Estate Investment Trusts (continued)** | **Real Estate Investment Trusts (continued)** |
| &nbsp;&nbsp; VICI Properties LP/VICI <br> Note Co., Inc.<br>|  |  |
| &nbsp;&nbsp; 4.63% 12/1/29 | 1030000 | $1019855 |
| &nbsp;&nbsp; 5.75% 2/1/27 | 265000 | 268307 |
|  |  | **29742074** |
| **Retail–0.42%** | **Retail–0.42%** | **Retail–0.42%** |
| &nbsp;&nbsp; 1011778 BC ULC/New Red <br> Finance, Inc.<br>|  |  |
| &nbsp;&nbsp; 4.00% 10/15/30 | 200000 | 188485 |
| &nbsp;&nbsp; 4.38% 1/15/28 | 230000 | 225993 |
| &nbsp;&nbsp; 5.63% 9/15/29 | 300000 | 303607 |
| &nbsp;&nbsp; BCPE Flavor Debt Merger <br> Sub LLC & BCPE Flavor <br> Issuer, Inc. 9.50% 7/1/32<br>| 180000 | 188392 |
| Carvana Co. 9.00% 6/1/31 | 524300 | 593627 |
| &nbsp;&nbsp; EG Global Finance PLC <br> 12.00% 11/30/28<br>| 550000 | 604096 |
| &nbsp;&nbsp; Fertitta <br> Entertainment LLC/Fertitta <br> Entertainment Finance Co., <br> Inc. 6.75% 1/15/30<br>| 480000 | 450448 |
| &nbsp;&nbsp; ‡Future Retail Ltd. 5.60% <br> 1/22/25<br>| 905000 | 136 |
| LBM Acquisition LLC |  |  |
| &nbsp;&nbsp; 6.25% 1/15/29 | 200000 | 185125 |
| &nbsp;&nbsp; 9.50% 6/15/31 | 245000 | 257450 |
| Lowe's Cos., Inc. 3.75% 4/1/32 | 4590000 | 4390537 |
| &nbsp;&nbsp; McDonald's Corp. 3.50% <br> 5/21/32<br>| 150000 | 178518 |
| Nordstrom, Inc. |  |  |
| &nbsp;&nbsp; 4.25% 8/1/31 | 150000 | 136251 |
| &nbsp;&nbsp; 4.38% 4/1/30 | 100000 | 94094 |
| &nbsp;&nbsp; Park River Holdings, Inc. <br> 8.00% 3/15/31<br>| 50000 | 50634 |
| &nbsp;&nbsp; Patrick Industries, Inc. 6.38% <br> 11/1/32<br>| 100000 | 101461 |
| &nbsp;&nbsp; Saks Global Enterprises LLC <br> 11.00% 12/15/29<br>| 260090 | 131183 |
| &nbsp;&nbsp; Sally Holdings LLC/Sally <br> Capital, Inc. 6.75% 3/1/32<br>| 65000 | 67575 |
| SGUS LLC 11.00% 12/15/29 | 149001 | 140460 |
| Staples, Inc. |  |  |
| &nbsp;&nbsp; 10.75% 9/1/29 | 300000 | 296631 |
| &nbsp;&nbsp; 12.75% 1/15/30 | 200000 | 160559 |
| &nbsp;&nbsp; Yum! Brands, Inc. 4.63% <br> 1/31/32<br>| 350000 | 340066 |
|  |  | **9085328** |
| **Semiconductors–0.59%** | **Semiconductors–0.59%** | **Semiconductors–0.59%** |
| &nbsp;&nbsp; Amkor Technology, Inc. 5.88% <br> 10/1/33<br>| 75000 | 75764 |
| Broadcom, Inc. |  |  |
| &nbsp;&nbsp; 3.19% 11/15/36 | 1965000 | 1676887 |
| &nbsp;&nbsp; 3.42% 4/15/33 | 4810000 | 4451532 |

---

*LVIP Fidelity Institutional AM*<sup>®</sup> *Total Bond Fund–18*

------

**LVIP Fidelity Institutional AM**<sup>®</sup> **Total Bond Fund**

**Schedule of Investments (continued)**

---

| | | |
|:---|:---|:---|
|  | **Principal**<br> **Amount°**<br>| **Value**<br> **(U.S. $)**<br>|
| **CORPORATE BONDS (continued)** | **CORPORATE BONDS (continued)** | **CORPORATE BONDS (continued)** |
| **Semiconductors (continued)** | **Semiconductors (continued)** | **Semiconductors (continued)** |
| Broadcom, Inc. (continued) |  |  |
| &nbsp;&nbsp; 5.05% 7/12/29 | 3330000 | $3430186 |
| Entegris, Inc. |  |  |
| &nbsp;&nbsp; 4.75% 4/15/29 | 400000 | 396569 |
| &nbsp;&nbsp; 5.95% 6/15/30 | 645000 | 654049 |
| &nbsp;&nbsp; NXP BV/NXP <br> Funding LLC/NXP USA, Inc.<br>|  |  |
| &nbsp;&nbsp; 4.85% 8/19/32 | 548000 | 548659 |
| &nbsp;&nbsp; 5.25% 8/19/35 | 1581000 | 1597141 |
| &nbsp;&nbsp; ON Semiconductor Corp. <br> 3.88% 9/1/28<br>| 150000 | 145577 |
|  |  | **12976364** |
| **Software–0.43%** | **Software–0.43%** | **Software–0.43%** |
| Cloud Software Group, Inc. |  |  |
| &nbsp;&nbsp; 6.63% 8/15/33 | 70000 | 71257 |
| &nbsp;&nbsp; 8.25% 6/30/32 | 300000 | 318226 |
| &nbsp;&nbsp; 9.00% 9/30/29 | 545000 | 565278 |
| CoreWeave, Inc. |  |  |
| &nbsp;&nbsp; 9.00% 2/1/31 | 290000 | 297215 |
| &nbsp;&nbsp; 9.25% 6/1/30 | 265000 | 273690 |
| &nbsp;&nbsp; Fair Isaac Corp. 6.00% <br> 5/15/33<br>| 325000 | 329044 |
| &nbsp;&nbsp; Helios Software Holdings, <br> Inc./ION Corporate <br> Solutions Finance SARL <br> 8.75% 5/1/29<br>| 100000 | 103646 |
| MSCI, Inc. 5.25% 9/1/35 | 1099000 | 1108099 |
| Open Text Corp. |  |  |
| &nbsp;&nbsp; 3.88% 2/15/28 | 200000 | 194486 |
| &nbsp;&nbsp; 3.88% 12/1/29 | 200000 | 189050 |
| &nbsp;&nbsp; Open Text Holdings, Inc. <br> 4.13% 12/1/31<br>| 250000 | 231199 |
| Oracle Corp. |  |  |
| &nbsp;&nbsp; 4.45% 9/26/30 | 669000 | 668672 |
| &nbsp;&nbsp; 4.80% 9/26/32 | 1115000 | 1116341 |
| &nbsp;&nbsp; 5.20% 9/26/35 | 1015000 | 1020589 |
| &nbsp;&nbsp; 5.88% 9/26/45 | 626000 | 627700 |
| &nbsp;&nbsp; 5.95% 9/26/55 | 785000 | 782585 |
| &nbsp;&nbsp; 6.10% 9/26/65 | 808000 | 806512 |
| &nbsp;&nbsp; Rackspace Finance LLC <br> 3.50% 5/15/28<br>| 250000 | 103485 |
| UKG, Inc. 6.88% 2/1/31 | 125000 | 128979 |
| &nbsp;&nbsp; X.AI LLC/X.AI Co. Issuer <br> Corp. 12.50% 6/30/30<br>| 400000 | 419479 |
|  |  | **9355532** |
| **Telecommunications–1.22%** | **Telecommunications–1.22%** | **Telecommunications–1.22%** |
| Altice Financing SA |  |  |
| &nbsp;&nbsp; 5.75% 8/15/29 | 550000 | 413875 |
| &nbsp;&nbsp; 9.63% 7/15/27 | 75000 | 67500 |
| &nbsp;&nbsp; ‡Altice France Holding SA <br> 6.00% 2/15/28<br>| 330000 | 117048 |
| Altice France SA |  |  |
| &nbsp;&nbsp; 5.13% 7/15/29 | 1700000 | 1451800 |

---

---

| | | |
|:---|:---|:---|
|  | **Principal**<br> **Amount°**<br>| **Value**<br> **(U.S. $)**<br>|
| **CORPORATE BONDS (continued)** | **CORPORATE BONDS (continued)** | **CORPORATE BONDS (continued)** |
| **Telecommunications (continued)** | **Telecommunications (continued)** | **Telecommunications (continued)** |
| &nbsp;&nbsp; Altice France <br> SA (continued)<br>|  |  |
| &nbsp;&nbsp; 5.50% 10/15/29 | 45000 | $38922 |
| AT&T, Inc. |  |  |
| &nbsp;&nbsp; 2.25% 2/1/32 | 3760000 | 3291724 |
| &nbsp;&nbsp; 6.30% 1/15/38 | 1485000 | 1616168 |
| &nbsp;&nbsp; Axian Telecom Holding & <br> Management PLC 7.25% <br> 7/11/30<br>| 335000 | 343035 |
| &nbsp;&nbsp; C&W Senior Finance Ltd. <br> 9.00% 1/15/33<br>| 615000 | 643116 |
| &nbsp;&nbsp; Colombia <br> Telecomunicaciones SA ESP <br> 4.95% 7/17/30<br>| 220000 | 203555 |
| &nbsp;&nbsp; Connect Holding II LLC <br> 10.50% 4/3/31<br>| 120000 | 119924 |
| CT Trust 5.13% 2/3/32 | 200000 | 190470 |
| &nbsp;&nbsp; @EchoStar Corp. 6.75% <br> 11/30/30<br>| 858198 | 884759 |
| &nbsp;&nbsp; Koninklijke KPN NV 3.88% <br> 2/16/36<br>| 200000 | 237620 |
| Level 3 Financing, Inc. |  |  |
| &nbsp;&nbsp; 3.63% 1/15/29 | 150000 | 129818 |
| &nbsp;&nbsp; 3.75% 7/15/29 | 325000 | 277039 |
| &nbsp;&nbsp; 4.50% 4/1/30 | 250000 | 228438 |
| &nbsp;&nbsp; 4.88% 6/15/29 | 75000 | 70508 |
| &nbsp;&nbsp; 6.88% 6/30/33 | 365000 | 372001 |
| &nbsp;&nbsp; 7.00% 3/31/34 | 235000 | 239068 |
| &nbsp;&nbsp; Liberty Costa Rica Senior <br> Secured Finance 10.88% <br> 1/15/31<br>| 200000 | 213454 |
| &nbsp;&nbsp; Liquid Telecommunications <br> Financing PLC 5.50% 9/4/26<br>| 370000 | 320992 |
| Maya SAS/Paris France |  |  |
| &nbsp;&nbsp; 7.00% 4/15/32 | 150000 | 152971 |
| &nbsp;&nbsp; 8.50% 4/15/31 | 175000 | 187686 |
| &nbsp;&nbsp; Millicom International <br> Cellular SA<br>|  |  |
| &nbsp;&nbsp; 4.50% 4/27/31 | 350000 | 331238 |
| &nbsp;&nbsp; 7.38% 4/2/32 | 100000 | 104503 |
| μNetwork i2i Ltd. 3.98% 3/3/26 | 150000 | 149003 |
| NTT Finance Corp. |  |  |
| &nbsp;&nbsp; 3.68% 7/16/33 | 100000 | 119189 |
| &nbsp;&nbsp; 4.57% 7/16/27 | 247000 | 248781 |
| &nbsp;&nbsp; 4.62% 7/16/28 | 250000 | 252472 |
| &nbsp;&nbsp; 4.88% 7/16/30 | 638000 | 648254 |
| μRogers Communications, Inc. |  |  |
| &nbsp;&nbsp; 7.00% 4/15/55 | 100000 | 104250 |
| &nbsp;&nbsp; 7.13% 4/15/55 | 100000 | 106016 |
| &nbsp;&nbsp; Sable International Finance <br> Ltd. 7.13% 10/15/32<br>| 450000 | 456925 |
| &nbsp;&nbsp; Silk Road Group Holding LLC <br> 7.50% 9/15/30<br>| 200000 | 201386 |

---

*LVIP Fidelity Institutional AM*<sup>®</sup> *Total Bond Fund–19*

------

**LVIP Fidelity Institutional AM**<sup>®</sup> **Total Bond Fund**

**Schedule of Investments (continued)**

---

| | | |
|:---|:---|:---|
|  | **Principal**<br> **Amount°**<br>| **Value**<br> **(U.S. $)**<br>|
| **CORPORATE BONDS (continued)** | **CORPORATE BONDS (continued)** | **CORPORATE BONDS (continued)** |
| **Telecommunications (continued)** | **Telecommunications (continued)** | **Telecommunications (continued)** |
| &nbsp;&nbsp; Telecommunications Co. <br> Telekom Srbija AD Belgrade <br> 7.00% 10/28/29<br>| 250000 | $253613 |
| μTELUS Corp. |  |  |
| &nbsp;&nbsp; 6.63% 10/15/55 | 133000 | 136925 |
| &nbsp;&nbsp; 7.00% 10/15/55 | 66000 | 69592 |
| T-Mobile USA, Inc. |  |  |
| &nbsp;&nbsp; 3.00% 2/15/41 | 580000 | 435825 |
| &nbsp;&nbsp; 3.88% 4/15/30 | 4430000 | 4344007 |
| &nbsp;&nbsp; 5.13% 5/15/32 | 915000 | 941679 |
| &nbsp;&nbsp; 5.75% 1/15/34 | 1190000 | 1260947 |
| Verizon Communications, Inc. |  |  |
| &nbsp;&nbsp; 2.55% 3/21/31 | 2055000 | 1868426 |
| &nbsp;&nbsp; 5.25% 4/2/35 | 1830000 | 1860952 |
| &nbsp;&nbsp; Vmed O2 U.K. Financing I <br> PLC 4.25% 1/31/31<br>| 300000 | 278150 |
| &nbsp;&nbsp; Windstream Services LLC <br> 7.50% 10/15/33<br>| 345000 | 344907 |
| &nbsp;&nbsp; Windstream <br> Services LLC/Windstream <br> Escrow Finance Corp. 8.25% <br> 10/1/31<br>| 350000 | 362557 |
|  |  | **26691088** |
| **Transportation–0.08%** | **Transportation–0.08%** | **Transportation–0.08%** |
| &nbsp;&nbsp; Beacon Mobility Corp. 7.25% <br> 8/1/30<br>| 115000 | 119561 |
| &nbsp;&nbsp; Genesee & Wyoming, Inc. <br> 6.25% 4/15/32<br>| 300000 | 304843 |
| &nbsp;&nbsp; MISC Capital Two Labuan <br> Ltd. 3.75% 4/6/27<br>| 200000 | 197864 |
| Mobico Group PLC |  |  |
| μ4.25% 11/26/25 | 100000 | 82111 |
| &nbsp;&nbsp; 4.88% 9/26/31 | 165000 | 152494 |
| &nbsp;&nbsp; Rand Parent LLC 8.50% <br> 2/15/30<br>| 460000 | 477970 |
| &nbsp;&nbsp; Stonepeak Nile Parent LLC <br> 7.25% 3/15/32<br>| 125000 | 131629 |
| Transnet 8.25% 2/6/28 | 50000 | 52741 |
| XPO, Inc. |  |  |
| &nbsp;&nbsp; 7.13% 6/1/31 | 100000 | 104628 |
| &nbsp;&nbsp; 7.13% 2/1/32 | 200000 | 210047 |
|  |  | **1833888** |
| **Trucking & Leasing–0.01%** | **Trucking & Leasing–0.01%** | **Trucking & Leasing–0.01%** |
| FTAI Aviation Investors LLC |  |  |
| &nbsp;&nbsp; 7.00% 6/15/32 | 100000 | 104652 |
| &nbsp;&nbsp; 7.88% 12/1/30 | 150000 | 159397 |
|  |  | **264049** |
| **Water–0.12%** | **Water–0.12%** | **Water–0.12%** |
| &nbsp;&nbsp; Aegea Finance SARL 9.00% <br> 1/20/31<br>| 200000 | 212012 |

---

---

| | | |
|:---|:---|:---|
|  | **Principal**<br> **Amount°**<br>| **Value**<br> **(U.S. $)**<br>|
| **CORPORATE BONDS (continued)** | **CORPORATE BONDS (continued)** | **CORPORATE BONDS (continued)** |
| **Water (continued)** | **Water (continued)** | **Water (continued)** |
| &nbsp;&nbsp; Anglian Water Services <br> Financing PLC 5.88% <br> 6/20/31<br>| 310000 | $428061 |
| &nbsp;&nbsp; Northumbrian Water Finance <br> PLC 4.50% 2/14/31<br>| 185000 | 240127 |
| &nbsp;&nbsp; Severn Trent Utilities Finance <br> PLC 3.88% 8/4/35<br>| 175000 | 207206 |
| &nbsp;&nbsp; South West Water Finance <br> PLC<br>|  |  |
| &nbsp;&nbsp; 5.25% 9/15/31 | 125000 | 166882 |
| &nbsp;&nbsp; 5.75% 12/11/32 | 160000 | 219083 |
| SW Finance I PLC |  |  |
| &nbsp;&nbsp; 6.88% 8/7/32 | 100000 | 136073 |
| &nbsp;&nbsp; 7.38% 12/12/41 | 100000 | 133325 |
| &nbsp;&nbsp; United Utilities Water <br> Finance PLC 3.50% 2/27/33<br>| 100000 | 116655 |
| &nbsp;&nbsp; Veolia Environnement SA <br> 3.32% 6/17/32<br>| 300000 | 352413 |
| &nbsp;&nbsp; Wessex Water Services <br> Finance PLC 6.13% 9/19/34<br>| 170000 | 230933 |
| &nbsp;&nbsp; Yorkshire Water Finance PLC <br> 6.00% 7/22/33<br>| 100000 | 134151 |
|  |  | **2576921** |
| **Total Corporate Bonds** <br>**(Cost $577,521,241)** | **Total Corporate Bonds** <br>**(Cost $577,521,241)** | **594819133** |
| **LOAN AGREEMENTS–5.48%** | **LOAN AGREEMENTS–5.48%** | **LOAN AGREEMENTS–5.48%** |
| &nbsp;&nbsp; •1011778 BC Unlimited <br> Liability Co. 5.91% (1 mo. <br> USD Term SOFR + 1.75%) <br> 9/20/30<br>| 746222 | 743110 |
| &nbsp;&nbsp; •19th Holdings Golf LLC 7.57% <br> (1 mo. USD Term SOFR + <br> 3.25%) 2/7/29<br>| 497429 | 495096 |
| &nbsp;&nbsp; •ABG Intermediate Holdings 2 <br> LLC 6.41% (1 mo. USD Term <br> SOFR + 2.25%) 12/21/28<br>| 497487 | 496164 |
| &nbsp;&nbsp; •Accelya Lux Finco SARL <br> 9.15% (3 mo. USD Term <br> SOFR + 5.25%) 10/1/32<br>| 195000 | 191100 |
| &nbsp;&nbsp; •Acosta, Inc. 9.60% (3 mo. USD <br> Term SOFR + 5.50%) <br> 8/21/31<br>| 34912 | 34650 |
| &nbsp;&nbsp; •Acrisure LLC 7.16% (1 mo. <br> USD Term SOFR + 3.00%) <br> 11/6/30<br>| 1741228 | 1736335 |
| Air Comm Corp. LLC | Air Comm Corp. LLC | Air Comm Corp. LLC |
| ✠0.00% 12/11/31 | 29487 | 29487 |
| &nbsp;&nbsp;&nbsp; •7.06% (3 mo. USD Term <br> SOFR + 2.75%) 12/11/31<br>| 469359 | 469359 |
| •Alera Group, Inc. | •Alera Group, Inc. | •Alera Group, Inc. |
| &nbsp;&nbsp;&nbsp; 7.41% (1 mo. USD Term <br> SOFR + 3.25%) 5/31/32<br>| 295000 | 295965 |
| &nbsp;&nbsp;&nbsp; 9.66% (1 mo. USD Term <br> SOFR + 5.50%) 5/30/33<br>| 85000 | 87285 |

---

*LVIP Fidelity Institutional AM*<sup>®</sup> *Total Bond Fund–20*

------

**LVIP Fidelity Institutional AM**<sup>®</sup> **Total Bond Fund**

**Schedule of Investments (continued)**

---

| | | |
|:---|:---|:---|
|  | **Principal**<br> **Amount°**<br>| **Value**<br> **(U.S. $)**<br>|
| **LOAN AGREEMENTS (continued)** | **LOAN AGREEMENTS (continued)** | **LOAN AGREEMENTS (continued)** |
| &nbsp;&nbsp; •AlixPartners LLP 6.16% (1 <br> mo. USD Term SOFR + <br> 2.00%) 8/12/32<br>| 170000 | $168773 |
| &nbsp;&nbsp; •Alliant Holdings <br> Intermediate LLC 6.67% (1 <br> mo. USD Term SOFR + <br> 2.50%) 9/19/31<br>| 54863 | 54703 |
| &nbsp;&nbsp; •Allied Universal Holdco LLC <br> 7.51% (1 mo. USD Term <br> SOFR + 3.25%) 8/20/32<br>| 855000 | 857719 |
| &nbsp;&nbsp; •Altice Financing SA 9.32% (3 <br> mo. USD Term SOFR + <br> 5.00%) 10/31/27<br>| 10000 | 8375 |
| &nbsp;&nbsp; •Altice France SA 9.82% (3 mo. <br> USD Term SOFR + 5.50%) <br> 8/15/28<br>| 2000000 | 1930000 |
| &nbsp;&nbsp; •Amentum Government <br> Services Holdings LLC 6.41% <br> (1 mo. USD Term SOFR + <br> 2.25%) 9/29/31<br>| 601504 | 600788 |
| •American Airlines, Inc. | •American Airlines, Inc. | •American Airlines, Inc. |
| &nbsp;&nbsp;&nbsp; 6.58% (3 mo. USD Term <br> SOFR + 2.25%) 4/20/28<br>| 498750 | 497713 |
| &nbsp;&nbsp;&nbsp; 7.58% (3 mo. USD Term <br> SOFR + 3.25%) 5/28/32<br>| 99750 | 100124 |
| &nbsp;&nbsp; ∞American Axle & <br> Manufacturing, Inc. 0.00% <br> 2/24/32<br>| 175000 | 173906 |
| &nbsp;&nbsp; •American Trailer World Corp. <br> 8.01% (1 mo. USD Term <br> SOFR + 3.75%) 3/3/28<br>| 500000 | 449375 |
| &nbsp;&nbsp; •Amneal Pharmaceuticals LLC <br> 7.66% (1 mo. USD Term <br> SOFR + 3.50%) 8/1/32<br>| 165000 | 164724 |
| &nbsp;&nbsp; •AmWINS Group, Inc. 6.25% (3 <br> mo. USD Term SOFR + <br> 2.25%) 1/30/32<br>| 497494 | 497165 |
| &nbsp;&nbsp; •Amynta Agency Borrower, <br> Inc. 6.91% (1 mo. USD Term <br> SOFR + 2.75%) 12/29/31<br>| 249373 | 248349 |
| &nbsp;&nbsp; •AP Core Holdings II LLC <br> 9.78% (1 mo. USD Term <br> SOFR + 5.50%) 9/1/27<br>| 750000 | 728438 |
| &nbsp;&nbsp; •Applied Systems, Inc. 6.25% <br> (3 mo. USD Term SOFR + <br> 2.25%) 2/24/31<br>| 303612 | 303698 |
| Archkey Solutions LLC | Archkey Solutions LLC | Archkey Solutions LLC |
| ✠0.00% 11/1/31 | 18663 | 18775 |
| &nbsp;&nbsp;&nbsp; •8.25% (3 mo. USD Term <br> SOFR + 4.25%) 11/1/31<br>| 161337 | 162312 |
| &nbsp;&nbsp; •Arcis Golf LLC 6.91% (1 mo. <br> USD Term SOFR + 2.75%) <br> 11/24/28<br>| 248832 | 248988 |
| &nbsp;&nbsp; •Artera Services LLC 8.50% (3 <br> mo. USD Term SOFR + <br> 4.50%) 2/15/31<br>| 532475 | 474318 |

---

---

| | | |
|:---|:---|:---|
|  | **Principal**<br> **Amount°**<br>| **Value**<br> **(U.S. $)**<br>|
| **LOAN AGREEMENTS (continued)** | **LOAN AGREEMENTS (continued)** | **LOAN AGREEMENTS (continued)** |
| &nbsp;&nbsp; •Arthur U.S. Finco, Inc. 9.25% <br> (3 mo. USD Term SOFR + <br> 5.25%) 12/14/29<br>| 496222 | $441106 |
| &nbsp;&nbsp; •Aruba Investments <br> Holdings LLC 8.26% (1 mo. <br> USD Term SOFR + 4.00%) <br> 11/24/27<br>| 497409 | 482736 |
| &nbsp;&nbsp; •Ascend Learning LLC 7.16% <br> (1 mo. USD Term SOFR + <br> 3.00%) 12/11/28<br>| 746250 | 745160 |
| &nbsp;&nbsp; •Asplundh Tree Expert LLC <br> 5.91% (1 mo. USD Term <br> SOFR + 1.75%) 5/23/31<br>| 248739 | 248605 |
| &nbsp;&nbsp; •Astro Acquisition LLC 7.12% <br> (6 mo. USD Term SOFR + <br> 3.25%) 8/30/32<br>| 100000 | 100313 |
| •Asurion LLC | •Asurion LLC | •Asurion LLC |
| &nbsp;&nbsp;&nbsp; 7.53% (1 mo. USD Term <br> SOFR + 3.25%) 7/31/27<br>| 174089 | 173982 |
| &nbsp;&nbsp;&nbsp; 8.41% (1 mo. USD Term <br> SOFR + 4.25%) 9/19/30<br>| 1741206 | 1733858 |
| &nbsp;&nbsp;&nbsp; 8.51% (1 mo. USD Term <br> SOFR + 4.25%) 8/19/28<br>| 74617 | 74830 |
| &nbsp;&nbsp;&nbsp; 9.53% (1 mo. USD Term <br> SOFR + 5.25%) 1/31/28<br>| 195000 | 189638 |
| &nbsp;&nbsp;&nbsp; 9.53% (1 mo. USD Term <br> SOFR + 5.25%) 1/20/29<br>| 1000000 | 955140 |
| &nbsp;&nbsp; •AthenaHealth Group, Inc. <br> 6.91% (1 mo. USD Term <br> SOFR + 2.75%) 2/15/29<br>| 746250 | 744384 |
| &nbsp;&nbsp; •Aveanna Healthcare LLC <br> 7.91% (1 mo. USD Term <br> SOFR + 3.75%) 9/17/32<br>| 65000 | 64919 |
| &nbsp;&nbsp; •Avis Budget Car Rental LLC <br> 6.66% (1 mo. USD Term <br> SOFR + 2.50%) 7/16/32<br>| 109725 | 108719 |
| &nbsp;&nbsp; •Azorra Soar TLB Finance Ltd. <br> 6.79% (3 mo. USD Term <br> SOFR + 2.75%) 10/18/29<br>| 169635 | 169635 |
| &nbsp;&nbsp; •AZZ, Inc. 5.91% (1 mo. USD <br> Term SOFR + 1.75%) <br> 5/13/29<br>| 60000 | 60175 |
| &nbsp;&nbsp; •Bakelite U.S. Holdco, Inc. <br> 7.75% (3 mo. USD Term <br> SOFR + 3.75%) 12/23/31<br>| 498747 | 497251 |
| &nbsp;&nbsp; •Bausch & Lomb Corp. 8.41% <br> (1 mo. USD Term SOFR + <br> 4.25%) 1/15/31<br>| 254363 | 254151 |
| &nbsp;&nbsp; •Bausch Health Cos., Inc. <br> 10.41% (1 mo. USD Term <br> SOFR + 6.25%) 10/8/30<br>| 1366575 | 1344792 |
| &nbsp;&nbsp; •BCPE Empire Holdings, Inc. <br> 7.41% (1 mo. USD Term <br> SOFR + 3.25%) 12/11/30<br>| 497494 | 496484 |
| &nbsp;&nbsp; •Beach Acquisition Bidco LLC <br> 7.31% (3 mo. USD Term <br> SOFR + 3.25%) 9/12/32<br>| 155000 | 155646 |

---

*LVIP Fidelity Institutional AM*<sup>®</sup> *Total Bond Fund–21*

------

**LVIP Fidelity Institutional AM**<sup>®</sup> **Total Bond Fund**

**Schedule of Investments (continued)**

---

| | | |
|:---|:---|:---|
|  | **Principal**<br> **Amount°**<br>| **Value**<br> **(U.S. $)**<br>|
| **LOAN AGREEMENTS (continued)** | **LOAN AGREEMENTS (continued)** | **LOAN AGREEMENTS (continued)** |
| &nbsp;&nbsp; •BIFM U.S. Finance LLC 7.91% <br> (1 mo. USD Term SOFR + <br> 3.75%) 5/31/28<br>| 154611 | $154997 |
| &nbsp;&nbsp; •Boots Group Bidco Ltd. 7.70% <br> (3 mo. USD Term SOFR + <br> 3.50%) 8/30/32<br>| 110000 | 110229 |
| &nbsp;&nbsp; •Brand Industrial Services, <br> Inc. 8.80% (3 mo. USD Term <br> SOFR + 4.50%) 8/1/30<br>| 1044697 | 944406 |
| &nbsp;&nbsp; •Broadstreet Partners, Inc. <br> 6.91% (1 mo. USD Term <br> SOFR + 2.75%) 6/13/31<br>| 497626 | 498019 |
| &nbsp;&nbsp; •C&S Wholesale Grocers, Inc. <br> 8.96% (3 mo. USD Term <br> SOFR + 5.00%) 9/20/30<br>| 300000 | 292500 |
| &nbsp;&nbsp; •Caesars Entertainment, Inc. <br> 6.41% (1 mo. USD Term <br> SOFR + 2.25%) 2/6/30<br>| 1242378 | 1238166 |
| &nbsp;&nbsp; •Cardenas Markets, Inc. <br> 10.85% (3 mo. USD Term <br> SOFR + 6.75%) 8/1/29<br>| 497436 | 421025 |
| &nbsp;&nbsp; •Cast & Crew Payroll LLC <br> 7.91% (1 mo. USD Term <br> SOFR + 3.75%) 12/29/28<br>| 497415 | 447753 |
| &nbsp;&nbsp; •CD&R Hydra Buyer, Inc. <br> 8.26% (1 mo. USD Term <br> SOFR + 4.00%) 3/25/31<br>| 497475 | 493953 |
| &nbsp;&nbsp; •Celsius Holdings, Inc. 7.29% <br> (3 mo. USD Term SOFR + <br> 3.00%) 4/1/32<br>| 249375 | 249609 |
| &nbsp;&nbsp; •Central Parent, Inc. 7.25% (3 <br> mo. USD Term SOFR + <br> 3.25%) 7/6/29<br>| 149622 | 129090 |
| &nbsp;&nbsp; •CFC Bidco Ltd. 8.04% (3 mo. <br> USD Term SOFR + 3.75%) <br> 7/1/32<br>| 180000 | 171450 |
| &nbsp;&nbsp; •Chamberlain Group, Inc. <br> 7.16% (1 mo. USD Term <br> SOFR + 3.00%) 9/8/32<br>| 109725 | 109771 |
| &nbsp;&nbsp; •Charlotte Buyer, Inc. 8.43% (1 <br> mo. USD Term SOFR + <br> 4.25%) 2/11/28<br>| 497494 | 496434 |
| &nbsp;&nbsp; •Charter Communications <br> Operating LLC 6.29% (3 mo. <br> USD Term SOFR + 2.00%) <br> 12/7/30<br>| 746203 | 745113 |
| &nbsp;&nbsp; •Charter NEX U.S., Inc. 6.80% <br> (1 mo. USD Term SOFR + <br> 2.75%) 11/29/30<br>| 497389 | 498747 |
| &nbsp;&nbsp; •Chemours Co. 7.16% (1 mo. <br> USD Term SOFR + 3.00%) <br> 8/18/28<br>| 278579 | 277882 |
| &nbsp;&nbsp; •CHG Healthcare Services, <br> Inc. 7.05% (1 mo. USD Term <br> SOFR + 2.75%) 9/29/28<br>| 248748 | 248736 |

---

---

| | | |
|:---|:---|:---|
|  | **Principal**<br> **Amount°**<br>| **Value**<br> **(U.S. $)**<br>|
| **LOAN AGREEMENTS (continued)** | **LOAN AGREEMENTS (continued)** | **LOAN AGREEMENTS (continued)** |
| &nbsp;&nbsp; •Ciena Corp. 5.89% (1 mo. USD <br> Term SOFR + 1.75%) <br> 10/24/30<br>| 249372 | $249529 |
| &nbsp;&nbsp; •Citadel Securities LP 6.16% <br> (1 mo. USD Term SOFR + <br> 2.00%) 10/31/31<br>| 746241 | 747457 |
| &nbsp;&nbsp; •City Football Group Ltd. <br> 7.78% (1 mo. USD Term <br> SOFR + 3.50%) 7/22/30<br>| 497481 | 497068 |
| &nbsp;&nbsp; •Clarios Global LP 6.66% (1 <br> mo. USD Term SOFR + <br> 2.50%) 5/6/30<br>| 746241 | 745539 |
| &nbsp;&nbsp; •Cloud Software Group, Inc. <br> 7.25% (3 mo. USD Term <br> SOFR + 3.25%) 3/21/31<br>| 997494 | 1000925 |
| &nbsp;&nbsp; •Clydesdale Acquisition <br> Holdings, Inc. 7.34% (1 mo. <br> USD Term SOFR + 3.18%) <br> 4/13/29<br>| 1500000 | 1497465 |
| &nbsp;&nbsp; •CMG Media Corp. 7.60% (3 <br> mo. USD Term SOFR + <br> 3.50%) 6/18/29<br>| 910292 | 868701 |
| &nbsp;&nbsp; •CNT Holdings I Corp. 6.56% (3 <br> mo. USD Term SOFR + <br> 2.25%) 11/8/32<br>| 497500 | 497067 |
| &nbsp;&nbsp; •CommScope, Inc. 8.91% (1 <br> mo. USD Term SOFR + <br> 4.75%) 12/17/29<br>| 750000 | 758438 |
| &nbsp;&nbsp; •Congruex Group LLC 5.96% (3 <br> mo. USD Term SOFR + <br> 1.50%) 5/3/29<br>| 35447 | 29687 |
| &nbsp;&nbsp; •Connect Holding II LLC 8.40% <br> (3 mo. USD Term SOFR + <br> 4.25%) 4/3/31<br>| 350000 | 320250 |
| &nbsp;&nbsp; •Consolidated Energy Finance <br> SA 8.66% (1 mo. USD Term <br> SOFR + 4.50%) 11/15/30<br>| 29848 | 27839 |
| &nbsp;&nbsp; •Constant Contact, Inc. 8.58% <br> (3 mo. USD Term SOFR + <br> 4.00%) 2/10/28<br>| 746729 | 690956 |
| &nbsp;&nbsp; •Construction Partners, Inc. <br> 6.66% (1 mo. USD Term <br> SOFR + 2.50%) 11/3/31<br>| 248747 | 249292 |
| •Cornerstone Building Brands, Inc. | •Cornerstone Building Brands, Inc. | •Cornerstone Building Brands, Inc. |
| &nbsp;&nbsp;&nbsp; 7.50% (1 mo. USD Term <br> SOFR + 3.25%) 4/12/28<br>| 354308 | 335827 |
| &nbsp;&nbsp;&nbsp; 8.65% (1 mo. USD Term <br> SOFR + 4.50%) 5/15/31<br>| 49874 | 45261 |
| &nbsp;&nbsp;&nbsp; 9.78% (1 mo. USD Term <br> SOFR + 5.63%) 8/1/28<br>| 94756 | 90808 |
| &nbsp;&nbsp; •Corp. Service Co. 6.16% (1 <br> mo. USD Term SOFR + <br> 2.00%) 11/2/29<br>| 480114 | 474712 |
| &nbsp;&nbsp; •Cotiviti Corp. 7.03% (1 mo. <br> USD Term SOFR + 2.75%) <br> 5/1/31<br>| 746231 | 732239 |

---

*LVIP Fidelity Institutional AM*<sup>®</sup> *Total Bond Fund–22*

------

**LVIP Fidelity Institutional AM**<sup>®</sup> **Total Bond Fund**

**Schedule of Investments (continued)**

---

| | | |
|:---|:---|:---|
|  | **Principal**<br> **Amount°**<br>| **Value**<br> **(U.S. $)**<br>|
| **LOAN AGREEMENTS (continued)** | **LOAN AGREEMENTS (continued)** | **LOAN AGREEMENTS (continued)** |
| &nbsp;&nbsp; •CPI Holdco B LLC 6.16% (1 <br> mo. USD Term SOFR + <br> 2.00%) 5/19/31<br>| 279295 | $278946 |
| &nbsp;&nbsp; •Crown Finance U.S., Inc. <br> 8.78% (1 mo. USD Term <br> SOFR + 4.50%) 12/2/31<br>| 995000 | 992144 |
| &nbsp;&nbsp; •Crown Subsea <br> Communications Holding, <br> Inc. 7.66% (1 mo. USD Term <br> SOFR + 3.50%) 1/30/31<br>| 124685 | 125340 |
| &nbsp;&nbsp; •CSC Holdings LLC 8.65% (1 <br> mo. USD Term SOFR + <br> 4.50%) 1/18/28<br>| 79795 | 79231 |
| &nbsp;&nbsp; •Cyberswift U.S. Finco LLC <br> 7.90% (3 mo. USD Term <br> SOFR + 4.00%) 10/8/32<br>| 50000 | 49896 |
| •Darktrace PLC | •Darktrace PLC | •Darktrace PLC |
| &nbsp;&nbsp;&nbsp; 7.57% (3 mo. USD Term <br> SOFR + 3.25%) 10/9/31<br>| 497500 | 497117 |
| &nbsp;&nbsp;&nbsp; 9.57% (3 mo. USD Term <br> SOFR + 5.25%) 10/9/32<br>| 80000 | 79900 |
| &nbsp;&nbsp; •Dave & Buster's, Inc. 7.56% (3 <br> mo. SOFR CME + 3.25%) <br> 6/29/29<br>| 500000 | 465965 |
| &nbsp;&nbsp; •DaVita, Inc. 5.91% (1 mo. USD <br> Term SOFR + 1.75%) 5/9/31<br>| 497497 | 498168 |
| •DG Investment Intermediate Holdings 2, Inc. | •DG Investment Intermediate Holdings 2, Inc. | •DG Investment Intermediate Holdings 2, Inc. |
| &nbsp;&nbsp;&nbsp; 7.91% (1 mo. USD Term <br> SOFR + 3.75%) 7/9/32<br>| 498705 | 499328 |
| &nbsp;&nbsp;&nbsp; 9.66% (1 mo. USD Term <br> SOFR + 5.50%) 7/31/33<br>| 45000 | 44663 |
| &nbsp;&nbsp; •Disco Parent, Inc. 7.48% (3 <br> mo. USD Term SOFR + <br> 3.25%) 7/30/32<br>| 65000 | 65163 |
| &nbsp;&nbsp; •Discovery Purchaser Corp. <br> 8.08% (3 mo. USD Term <br> SOFR + 3.75%) 10/4/29<br>| 497503 | 494603 |
| &nbsp;&nbsp; •Dotdash Meredith, Inc. 7.78% <br> (1 mo. USD Term SOFR + <br> 3.50%) 6/17/32<br>| 175000 | 174417 |
| •Dynasty Acquisition Co., Inc. | •Dynasty Acquisition Co., Inc. | •Dynasty Acquisition Co., Inc. |
| &nbsp;&nbsp;&nbsp; 6.16% (1 mo. USD Term <br> SOFR + 2.00%) 10/31/31<br>| 360407 | 360389 |
| &nbsp;&nbsp;&nbsp; 6.16% (1 mo. USD Term <br> SOFR + 2.00%) 10/31/31<br>| 137087 | 137080 |
| &nbsp;&nbsp; •Eagle Parent Corp. 8.25% (3 <br> mo. USD Term SOFR + <br> 4.25%) 4/2/29<br>| 746134 | 744619 |
| &nbsp;&nbsp; •Echo Global Logistics, Inc. <br> 8.01% (1 mo. USD Term <br> SOFR + 3.75%) 11/23/28<br>| 290000 | 281155 |
| &nbsp;&nbsp; •ECL Entertainment LLC <br> 7.16% (1 mo. USD Term <br> SOFR + 3.00%) 8/30/30<br>| 100000 | 99825 |
| &nbsp;&nbsp; •Ellucian Holdings, Inc. 6.91% <br> (1 mo. USD Term SOFR + <br> 2.75%) 10/9/29<br>| 497500 | 497192 |

---

---

| | | |
|:---|:---|:---|
|  | **Principal**<br> **Amount°**<br>| **Value**<br> **(U.S. $)**<br>|
| **LOAN AGREEMENTS (continued)** | **LOAN AGREEMENTS (continued)** | **LOAN AGREEMENTS (continued)** |
| &nbsp;&nbsp; •EMG Utica LLC 8.00% (3 mo. <br> USD Term SOFR + 4.00%) <br> 4/1/30<br>| 54862 | $54930 |
| •EMRLD Borrower LP | •EMRLD Borrower LP | •EMRLD Borrower LP |
| &nbsp;&nbsp;&nbsp; 6.12% (6 mo. USD Term <br> SOFR + 2.25%) 8/4/31<br>| 44888 | 44672 |
| &nbsp;&nbsp;&nbsp; 6.45% (3 mo. USD Term <br> SOFR + 2.25%) 5/31/30<br>| 34913 | 34794 |
| &nbsp;&nbsp; •Endo Luxembourg Finance <br> Co. I SARL 8.16% (1 mo. <br> USD Term SOFR + 4.00%) <br> 4/23/31<br>| 497487 | 498214 |
| &nbsp;&nbsp; •Ensemble RCM LLC 7.31% (3 <br> mo. USD Term SOFR + <br> 3.00%) 8/1/29<br>| 99495 | 99706 |
| &nbsp;&nbsp; •EP Purchaser LLC 7.78% (1 <br> mo. USD Term SOFR + <br> 3.50%) 11/6/28<br>| 19820 | 18597 |
| &nbsp;&nbsp; •Esdec Solar Group BV 9.26% <br> (3 mo. USD Term SOFR + <br> 5.00%) 8/30/28<br>| 738464 | 384001 |
| &nbsp;&nbsp; •Fertitta Entertainment LLC <br> 7.41% (1 mo. USD Term <br> SOFR + 3.25%) 1/27/29<br>| 1740979 | 1737915 |
| &nbsp;&nbsp; •Fiesta Purchaser, Inc. 6.91% <br> (1 mo. USD Term SOFR + <br> 2.75%) 2/12/31<br>| 497497 | 496203 |
| &nbsp;&nbsp; •Filtration Group Corp. 6.91% <br> (1 mo. USD Term SOFR + <br> 2.75%) 10/21/28<br>| 249354 | 250289 |
| •Flutter Financing BV | •Flutter Financing BV | •Flutter Financing BV |
| &nbsp;&nbsp;&nbsp; 5.75% (3 mo. USD Term <br> SOFR + 1.75%) 11/30/30<br>| 497468 | 495354 |
| &nbsp;&nbsp;&nbsp; 6.00% (3 mo. USD Term <br> SOFR + 2.00%) 6/4/32<br>| 64838 | 64712 |
| &nbsp;&nbsp; •Flynn Restaurant Group LP <br> 7.91% (1 mo. USD Term <br> SOFR + 3.75%) 1/28/32<br>| 497458 | 497926 |
| &nbsp;&nbsp; •Focus Financial Partners LLC <br> 6.91% (1 mo. USD Term <br> SOFR + 2.75%) 9/15/31<br>| 34912 | 34916 |
| &nbsp;&nbsp; •Foundation Building <br> Materials Holding Co. LLC <br> 8.31% (3 mo. USD Term <br> SOFR + 4.00%) 1/29/31<br>| 512437 | 513077 |
| &nbsp;&nbsp; •Froneri Lux Finco SARL <br> 6.20% (6 mo. USD Term <br> SOFR + 2.00%) 9/30/31<br>| 248750 | 246730 |
| &nbsp;&nbsp; •Gen Digital, Inc. 5.91% (1 mo. <br> USD Term SOFR + 1.75%) <br> 9/12/29<br>| 496119 | 494571 |
| &nbsp;&nbsp; •GEN II Fund Services LLC <br> 6.75% (6 mo. USD Term <br> SOFR + 2.75%) 11/26/31<br>| 248750 | 248646 |
| &nbsp;&nbsp; •Genesee & Wyoming, Inc. <br> 5.75% (3 mo. USD Term <br> SOFR + 1.75%) 4/10/31<br>| 497487 | 495358 |

---

*LVIP Fidelity Institutional AM*<sup>®</sup> *Total Bond Fund–23*

------

**LVIP Fidelity Institutional AM**<sup>®</sup> **Total Bond Fund**

**Schedule of Investments (continued)**

---

| | | |
|:---|:---|:---|
|  | **Principal**<br> **Amount°**<br>| **Value**<br> **(U.S. $)**<br>|
| **LOAN AGREEMENTS (continued)** | **LOAN AGREEMENTS (continued)** | **LOAN AGREEMENTS (continued)** |
| &nbsp;&nbsp; •Genesys Cloud Services <br> Holdings II LLC 6.66% (1 <br> mo. USD Term SOFR + <br> 2.50%) 1/30/32<br>| 35000 | $34745 |
| &nbsp;&nbsp; •GFL Environmental, Inc. <br> 6.67% (3 mo. USD Term <br> SOFR + 2.50%) 3/3/32<br>| 500000 | 499345 |
| &nbsp;&nbsp; •Global Medical Response, <br> Inc. 7.63% (1 mo. USD Term <br> SOFR + 3.50%) 10/1/32<br>| 120000 | 120006 |
| &nbsp;&nbsp; •Gloves Buyer, Inc. 8.16% (1 <br> mo. USD Term SOFR + <br> 4.00%) 5/21/32<br>| 500000 | 484500 |
| &nbsp;&nbsp; •Go Daddy Operating Co. LLC <br> 5.91% (1 mo. USD Term <br> SOFR + 1.75%) 11/9/29<br>| 248744 | 248378 |
| &nbsp;&nbsp; •Golden State Foods LLC <br> 8.58% (1 mo. USD Term <br> SOFR + 4.00%) 12/4/31<br>| 115000 | 115117 |
| &nbsp;&nbsp; •Great Outdoors Group LLC <br> 7.41% (1 mo. USD Term <br> SOFR + 3.25%) 1/23/32<br>| 2984962 | 2981231 |
| &nbsp;&nbsp; •GTCR Everest Borrower LLC <br> 6.75% (3 mo. USD Term <br> SOFR + 2.75%) 9/5/31<br>| 552362 | 552318 |
| &nbsp;&nbsp; •GVC Holdings Gibraltar Ltd. <br> 6.37% (3 mo. USD Term <br> SOFR + 2.25%) 7/31/32<br>| 30000 | 29941 |
| &nbsp;&nbsp; •Hamilton Projects <br> Acquiror LLC 6.66% (1 mo. <br> USD Term SOFR + 2.50%) <br> 5/30/31<br>| 73351 | 73503 |
| Hanger, Inc. | Hanger, Inc. | Hanger, Inc. |
| ✠•0.00% 10/23/31 | 28506 | 28549 |
| &nbsp;&nbsp;&nbsp; •7.66% (1 mo. USD Term <br> SOFR + 3.50%) 10/23/31<br>| 220929 | 221261 |
| &nbsp;&nbsp; •Heartland Dental LLC 7.91% <br> (1 mo. USD Term SOFR + <br> 3.75%) 8/25/32<br>| 64838 | 64692 |
| &nbsp;&nbsp; •Help At Home, Inc. 9.16% (1 <br> mo. USD Term SOFR + <br> 5.00%) 9/24/31<br>| 597030 | 536020 |
| &nbsp;&nbsp; •Herschend Entertainment Co. <br> LLC 7.41% (1 mo. USD Term <br> SOFR + 3.25%) 5/27/32<br>| 79800 | 80016 |
| •Hexion Holdings Corp. | •Hexion Holdings Corp. | •Hexion Holdings Corp. |
| &nbsp;&nbsp;&nbsp; 8.14% (1 mo. USD Term <br> SOFR + 4.00%) 3/15/29<br>| 1044724 | 1042676 |
| &nbsp;&nbsp;&nbsp; 11.70% (1 mo. USD Term <br> SOFR + 7.44%) 3/15/30<br>| 75000 | 73913 |
| &nbsp;&nbsp; •HighTower Holdings LLC <br> 7.07% (3 mo. USD Term <br> SOFR + 2.75%) 2/3/32<br>| 498750 | 497817 |
| &nbsp;&nbsp; •Hilton Grand Vacations <br> Borrower LLC 6.16% (1 mo. <br> USD Term SOFR + 2.00%) <br> 8/2/28<br>| 749088 | 747875 |

---

---

| | | |
|:---|:---|:---|
|  | **Principal**<br> **Amount°**<br>| **Value**<br> **(U.S. $)**<br>|
| **LOAN AGREEMENTS (continued)** | **LOAN AGREEMENTS (continued)** | **LOAN AGREEMENTS (continued)** |
| &nbsp;&nbsp; •Horizon U.S. Finco LP 8.81% <br> (3 mo. USD Term SOFR + <br> 4.50%) 10/31/31<br>| 392908 | $384559 |
| &nbsp;&nbsp; •HUB International Ltd. 6.58% <br> (3 mo. USD Term SOFR + <br> 2.25%) 6/20/30<br>| 851062 | 852100 |
| &nbsp;&nbsp; •INEOS Quattro Holdings U.K. <br> Ltd. 8.51% (1 mo. USD Term <br> SOFR + 4.25%) 4/2/29<br>| 736867 | 663792 |
| &nbsp;&nbsp; •IVC Acquisition Ltd. 7.75% (3 <br> mo. USD Term SOFR + <br> 3.75%) 12/12/28<br>| 497475 | 499445 |
| &nbsp;&nbsp; •J&J Ventures Gaming LLC <br> 7.66% (1 mo. USD Term <br> SOFR + 3.50%) 4/26/30<br>| 497500 | 491903 |
| &nbsp;&nbsp; •Jane Street Group LLC 6.20% <br> (3 mo. USD Term SOFR + <br> 2.00%) 12/15/31<br>| 566555 | 561835 |
| &nbsp;&nbsp; •Jazz Financing Lux SARL <br> 6.41% (1 mo. USD Term <br> SOFR + 2.25%) 5/5/28<br>| 495992 | 496230 |
| Kaman Corp. | Kaman Corp. | Kaman Corp. |
| ✠•0.00% 2/26/32 | 64655 | 64407 |
| &nbsp;&nbsp;&nbsp; •6.66% (3 mo. USD Term <br> SOFR + 2.50%) 2/26/32<br>| 680218 | 677606 |
| &nbsp;&nbsp; •Kaseya, Inc. 7.41% (1 mo. <br> USD Term SOFR + 3.25%) <br> 3/20/32<br>| 1268687 | 1269842 |
| &nbsp;&nbsp; •Kingpin Intermediate <br> Holdings LLC 7.39% (1 mo. <br> USD Term SOFR + 3.25%) <br> 9/22/32<br>| 175000 | 169860 |
| &nbsp;&nbsp; •KnowBe4, Inc. 8.06% (3 mo. <br> USD Term SOFR + 3.75%) <br> 7/23/32<br>| 130000 | 130000 |
| &nbsp;&nbsp; •Kodiak Building Partners, <br> Inc. 7.75% (3 mo. USD Term <br> SOFR + 3.75%) 12/4/31<br>| 313678 | 311849 |
| &nbsp;&nbsp; •Kronos Acquisition Holdings, <br> Inc. 8.00% (3 mo. USD Term <br> SOFR + 4.00%) 7/8/31<br>| 497487 | 364564 |
| &nbsp;&nbsp; •KUEHG Corp. 6.75% (3 mo. <br> USD Term SOFR + 2.75%) <br> 6/12/30<br>| 248750 | 248491 |
| •LBM Acquisition LLC | •LBM Acquisition LLC | •LBM Acquisition LLC |
| &nbsp;&nbsp;&nbsp; 7.99% (1 mo. USD Term <br> SOFR + 3.75%) 6/6/31<br>| 298489 | 290788 |
| &nbsp;&nbsp;&nbsp; 9.14% (1 mo. USD Term <br> SOFR + 5.00%) 6/6/31<br>| 218938 | 217882 |
| &nbsp;&nbsp; •Level 3 Financing, Inc. 7.42% <br> (1 mo. USD Term SOFR + <br> 3.25%) 3/29/32<br>| 20000 | 20000 |
| &nbsp;&nbsp; •Life Time Fitness, Inc. 6.25% <br> (1 mo. USD Term SOFR + <br> 2.00%) 11/5/31<br>| 500000 | 499165 |

---

*LVIP Fidelity Institutional AM*<sup>®</sup> *Total Bond Fund–24*

------

**LVIP Fidelity Institutional AM**<sup>®</sup> **Total Bond Fund**

**Schedule of Investments (continued)**

---

| | | |
|:---|:---|:---|
|  | **Principal**<br> **Amount°**<br>| **Value**<br> **(U.S. $)**<br>|
| **LOAN AGREEMENTS (continued)** | **LOAN AGREEMENTS (continued)** | **LOAN AGREEMENTS (continued)** |
| &nbsp;&nbsp; •Lonza Group AG 8.03% (3 mo. <br> USD Term SOFR + 3.93%) <br> 7/3/28<br>| 806504 | $725959 |
| •Lumen Technologies, Inc. | •Lumen Technologies, Inc. | •Lumen Technologies, Inc. |
| &nbsp;&nbsp;&nbsp; 6.63% (1 mo. USD Term <br> SOFR + 2.35%) 4/16/29<br>| 1761001 | 1748040 |
| &nbsp;&nbsp;&nbsp; 6.63% (1 mo. USD Term <br> SOFR + 2.35%) 4/15/30<br>| 119390 | 118511 |
| &nbsp;&nbsp; •M2S Group Intermediate <br> Holdings, Inc. 9.06% (3 mo. <br> USD Term SOFR + 4.75%) <br> 8/25/31<br>| 815000 | 806442 |
| &nbsp;&nbsp; •Madison IAQ LLC 6.70% (6 <br> mo. USD Term SOFR + <br> 2.50%) 6/21/28<br>| 746114 | 746241 |
| &nbsp;&nbsp; •MajorDrive Holdings IV LLC <br> 8.26% (3 mo. USD Term <br> SOFR + 4.00%) 6/1/28<br>| 139117 | 135446 |
| &nbsp;&nbsp; •MED ParentCo LP 7.41% (1 <br> mo. USD Term SOFR + <br> 3.25%) 4/15/31<br>| 164588 | 164815 |
| &nbsp;&nbsp; •Medline Borrower LP 6.16% <br> (1 mo. USD Term SOFR + <br> 2.00%) 10/23/28<br>| 1211889 | 1211816 |
| &nbsp;&nbsp; •MH Sub I LLC 8.41% (1 mo. <br> USD Term SOFR + 4.25%) <br> 12/31/31<br>| 1243734 | 1142681 |
| &nbsp;&nbsp; •MKS Instruments, Inc. 6.17% <br> (1 mo. USD Term SOFR + <br> 2.00%) 8/17/29<br>| 456233 | 455758 |
| &nbsp;&nbsp; •Modena Buyer LLC 8.81% (3 <br> mo. USD Term SOFR + <br> 4.50%) 7/1/31<br>| 748116 | 737964 |
| &nbsp;&nbsp; •ModivCare, Inc. 12.75% (3 mo. <br> USD Term SOFR + 8.75%) <br> 7/1/31<br>| 99749 | 44887 |
| MRP Buyer LLC | MRP Buyer LLC | MRP Buyer LLC |
| ✠0.00% 6/4/32 | 11290 | 11089 |
| &nbsp;&nbsp;&nbsp; •7.25% (3 mo. USD Term <br> SOFR + 3.25%) 6/4/32<br>| 88710 | 87130 |
| &nbsp;&nbsp; •Natgasoline LLC 9.50% (3 mo. <br> USD Term SOFR + 5.50%) <br> 3/29/30<br>| 1036875 | 1046383 |
| •Neptune Bidco U.S., Inc. | •Neptune Bidco U.S., Inc. | •Neptune Bidco U.S., Inc. |
| &nbsp;&nbsp;&nbsp; 9.18% (3 mo. USD Term <br> SOFR + 4.75%) 4/11/29<br>| 1246811 | 1184471 |
| &nbsp;&nbsp;&nbsp; 9.43% (3 mo. USD Term <br> SOFR + 5.00%) 4/11/29<br>| 249362 | 237114 |
| &nbsp;&nbsp; •New Arclin U.S. Holding Corp. <br> 7.76% (1 mo. USD Term <br> SOFR + 3.50%) 9/30/28<br>| 497419 | 497638 |
| &nbsp;&nbsp; •New Fortress Energy, Inc. <br> 9.57% (3 mo. USD Term <br> SOFR + 5.50%) 10/30/28<br>| 2443074 | 1174899 |
| &nbsp;&nbsp; •Nexstar Broadcasting, Inc. <br> 6.66% (1 mo. USD Term <br> SOFR + 2.50%) 6/28/32<br>| 209475 | 209138 |

---

---

| | | |
|:---|:---|:---|
|  | **Principal**<br> **Amount°**<br>| **Value**<br> **(U.S. $)**<br>|
| **LOAN AGREEMENTS (continued)** | **LOAN AGREEMENTS (continued)** | **LOAN AGREEMENTS (continued)** |
| •Nexus Buyer LLC | •Nexus Buyer LLC | •Nexus Buyer LLC |
| &nbsp;&nbsp;&nbsp; 7.66% (1 mo. USD Term <br> SOFR + 3.50%) 7/31/31<br>| 746250 | $744116 |
| &nbsp;&nbsp;&nbsp; 9.91% (1 mo. USD Term <br> SOFR + 5.75%) 2/16/32<br>| 95000 | 94786 |
| &nbsp;&nbsp; •Nielsen Consumer, Inc. 6.66% <br> (1 mo. USD Term SOFR + <br> 2.50%) 10/31/30<br>| 248752 | 247819 |
| &nbsp;&nbsp; •Nourish Buyer I, Inc. 8.82% (3 <br> mo. USD Term SOFR + <br> 4.50%) 7/9/32<br>| 410000 | 409488 |
| &nbsp;&nbsp; •NRG Energy, Inc. 6.06% (3 <br> mo. USD Term SOFR + <br> 1.75%) 4/16/31<br>| 159595 | 159545 |
| &nbsp;&nbsp; •Nuvei Technologies Corp. <br> 6.91% (1 mo. USD Term <br> SOFR + 2.75%) 11/17/31<br>| 497503 | 497259 |
| &nbsp;&nbsp; •Olaplex, Inc. 7.80% (3 mo. <br> USD Term SOFR + 3.50%) <br> 2/23/29<br>| 45000 | 43718 |
| &nbsp;&nbsp; •Open Text Corp. 5.91% (1 mo. <br> USD Term SOFR + 1.75%) <br> 1/31/30<br>| 495916 | 495261 |
| &nbsp;&nbsp; •Optiv Security, Inc. 9.56% (3 <br> mo. USD Term SOFR + <br> 5.25%) 7/31/26<br>| 497462 | 388020 |
| &nbsp;&nbsp; •Organon & Co. 6.41% (1 mo. <br> USD Term SOFR + 2.25%) <br> 5/19/31<br>| 500000 | 486875 |
| &nbsp;&nbsp; ∞Orion U.S. Finco, Inc. 0.00% <br> 10/8/32<br>| 100000 | 100500 |
| &nbsp;&nbsp; •Osmose Utilities Services, <br> Inc. 7.53% (1 mo. USD Term <br> SOFR + 3.25%) 6/23/28<br>| 144662 | 136797 |
| &nbsp;&nbsp; •Par Petroleum LLC 8.03% (3 <br> mo. USD Term SOFR + <br> 3.75%) 2/28/30<br>| 497455 | 496211 |
| &nbsp;&nbsp; •Park River Holdings, Inc. <br> 8.49% (3 mo. USD Term <br> SOFR + 4.50%) 3/15/31<br>| 130000 | 129968 |
| &nbsp;&nbsp; ∞Peer Holding III BV 0.00% <br> 9/29/32<br>| 85000 | 85000 |
| &nbsp;&nbsp; •Peraton Corp. 8.01% (1 mo. <br> USD Term SOFR + 3.75%) <br> 2/1/28<br>| 994677 | 837150 |
| Pinnacle Buyer LLC | Pinnacle Buyer LLC | Pinnacle Buyer LLC |
| ✠0.00% 9/10/32 | 26613 | 26646 |
| &nbsp;&nbsp;&nbsp; •6.49% (3 mo. USD Term <br> SOFR + 2.50%) 9/10/32<br>| 138387 | 138560 |
| •Polaris Newco LLC | •Polaris Newco LLC | •Polaris Newco LLC |
| &nbsp;&nbsp;&nbsp; 8.32% (3 mo. USD Term <br> SOFR + 3.75%) 6/2/28<br>| 1636425 | 1575288 |
| &nbsp;&nbsp;&nbsp; 13.30% (3 mo. USD Term <br> SOFR + 9.00%) 6/4/29<br>| 150000 | 142500 |
| &nbsp;&nbsp; •Primo Brands Corp. 6.25% (3 <br> mo. USD Term SOFR + <br> 2.25%) 3/31/28<br>| 497494 | 497225 |

---

*LVIP Fidelity Institutional AM*<sup>®</sup> *Total Bond Fund–25*

------

**LVIP Fidelity Institutional AM**<sup>®</sup> **Total Bond Fund**

**Schedule of Investments (continued)**

---

| | | |
|:---|:---|:---|
|  | **Principal**<br> **Amount°**<br>| **Value**<br> **(U.S. $)**<br>|
| **LOAN AGREEMENTS (continued)** | **LOAN AGREEMENTS (continued)** | **LOAN AGREEMENTS (continued)** |
| &nbsp;&nbsp; •Priority Holdings LLC 7.91% <br> (3 mo. Prime Rate + 2.75%) <br> 7/30/32<br>| 110000 | $110103 |
| &nbsp;&nbsp; •Project Alpha Intermediate <br> Holding, Inc. 7.25% (3 mo. <br> USD Term SOFR + 3.25%) <br> 10/26/30<br>| 746231 | 747925 |
| &nbsp;&nbsp; •Project Boost Purchaser LLC <br> 7.07% (3 mo. USD Term <br> SOFR + 2.75%) 7/16/31<br>| 497500 | 495948 |
| &nbsp;&nbsp; •Proofpoint, Inc. 7.16% (1 mo. <br> USD Term SOFR + 3.00%) <br> 8/31/28<br>| 746212 | 748160 |
| &nbsp;&nbsp; ∞Qnity Electronics, Inc. 0.00% <br> 8/12/32<br>| 260000 | 259675 |
| &nbsp;&nbsp; •QuidelOrtho Corp. 8.00% (3 <br> mo. USD Term SOFR + <br> 4.00%) 8/20/32<br>| 435000 | 432464 |
| &nbsp;&nbsp; •Quikrete Holdings, Inc. 6.41% <br> (1 mo. USD Term SOFR + <br> 2.25%) 2/10/32<br>| 746250 | 745743 |
| &nbsp;&nbsp; •Radiology Partners, Inc. <br> 8.50% (3 mo. USD Term <br> SOFR + 4.50%) 6/30/32<br>| 45000 | 44850 |
| &nbsp;&nbsp; •Rand Parent LLC 7.00% (3 <br> mo. USD Term SOFR + <br> 3.00%) 3/18/30<br>| 84786 | 84347 |
| &nbsp;&nbsp; •Recess Holdings, Inc. 8.07% <br> (3 mo. USD Term SOFR + <br> 3.75%) 2/20/30<br>| 248747 | 249458 |
| &nbsp;&nbsp; •Red Planet Borrower LLC <br> 8.16% (1 mo. USD Term <br> SOFR + 4.00%) 9/8/32<br>| 330000 | 320678 |
| &nbsp;&nbsp; •Renaissance Holdings Corp. <br> 8.16% (1 mo. USD Term <br> SOFR + 4.00%) 4/5/30<br>| 746203 | 644376 |
| &nbsp;&nbsp; •Restoration Hardware, Inc. <br> 7.51% (1 mo. USD Term <br> SOFR + 3.25%) 10/20/28<br>| 497436 | 486244 |
| &nbsp;&nbsp; •Roper Industrial Products <br> Investment Co. LLC 6.75% <br> (3 mo. USD Term SOFR + <br> 2.75%) 11/22/29<br>| 134323 | 134436 |
| &nbsp;&nbsp; •RVR Dealership Holdings LLC <br> 8.01% (1 mo. USD Term <br> SOFR + 3.75%) 2/8/28<br>| 497416 | 468123 |
| &nbsp;&nbsp; •Ryan Specialty Group LLC <br> 6.16% (1 mo. USD Term <br> SOFR + 2.00%) 9/15/31<br>| 248747 | 248670 |
| &nbsp;&nbsp; •Sandisk Corp. 7.14% (1 mo. <br> USD Term SOFR + 3.00%) <br> 2/20/32<br>| 375000 | 375236 |
| &nbsp;&nbsp; •Sedgwick Claims <br> Management Services, Inc. <br> 6.66% (1 mo. USD Term <br> SOFR + 2.50%) 7/31/31<br>| 497497 | 496721 |

---

---

| | | |
|:---|:---|:---|
|  | **Principal**<br> **Amount°**<br>| **Value**<br> **(U.S. $)**<br>|
| **LOAN AGREEMENTS (continued)** | **LOAN AGREEMENTS (continued)** | **LOAN AGREEMENTS (continued)** |
| &nbsp;&nbsp; •SGH2 LLC 8.51% (3 mo. USD <br> Term SOFR + 4.50%) <br> 8/18/32<br>| 95000 | $95000 |
| &nbsp;&nbsp; •Shift4 Payments LLC 6.50% (3 <br> mo. USD Term SOFR + <br> 2.50%) 6/30/32<br>| 35000 | 35248 |
| &nbsp;&nbsp; ∞Solstice Advanced Materials, <br> Inc. 0.00% 9/17/32<br>| 115000 | 115072 |
| &nbsp;&nbsp; •Somnigroup International, <br> Inc. 6.37% (1 mo. USD Term <br> SOFR + 2.25%) 10/24/31<br>| 435000 | 437175 |
| &nbsp;&nbsp; •Sotera Health Holdings LLC <br> 6.66% (1 mo. USD Term <br> SOFR + 2.50%) 5/30/31<br>| 236887 | 236986 |
| &nbsp;&nbsp; •Sovos Compliance LLC 7.41% <br> (1 mo. USD Term SOFR + <br> 3.25%) 8/13/29<br>| 249373 | 249600 |
| &nbsp;&nbsp; •Spa Holdings 3 OYJ 8.51% (3 <br> mo. USD Term SOFR + <br> 4.25%) 5/23/30<br>| 159925 | 159725 |
| &nbsp;&nbsp; •Spin Holdco, Inc. 8.39% (3 <br> mo. USD Term SOFR + <br> 4.00%) 3/4/28<br>| 1816027 | 1514440 |
| Splat Super Holdco LLC | Splat Super Holdco LLC | Splat Super Holdco LLC |
| ✠0.00% 7/2/32 | 49109 | 48225 |
| &nbsp;&nbsp;&nbsp; •9.16% (1 mo. USD Term <br> SOFR + 5.00%) 7/2/32<br>| 260891 | 256195 |
| &nbsp;&nbsp; •Staples, Inc. 10.05% (3 mo. <br> USD Term SOFR + 5.75%) <br> 9/4/29<br>| 761231 | 720208 |
| &nbsp;&nbsp; •Station Casinos LLC 6.16% (1 <br> mo. USD Term SOFR + <br> 2.00%) 3/14/31<br>| 497475 | 497296 |
| &nbsp;&nbsp; •Sweetwater Borrower LLC <br> 8.53% (1 mo. USD Term <br> SOFR + 4.25%) 8/7/28<br>| 487725 | 488642 |
| &nbsp;&nbsp; •Talen Energy Supply LLC <br> 6.73% (3 mo. USD Term <br> SOFR + 2.50%) 12/15/31<br>| 248747 | 248799 |
| &nbsp;&nbsp; •Team Health Holdings, Inc. <br> 8.80% (3 mo. USD Term <br> SOFR + 4.50%) 6/30/28<br>| 69825 | 69636 |
| &nbsp;&nbsp; •TGP Holdings III LLC 7.51% <br> (1 mo. USD Term SOFR + <br> 3.25%) 6/29/28<br>| 314916 | 293430 |
| &nbsp;&nbsp; •Tiger Acquisition LLC 6.64% <br> (1 mo. USD Term SOFR + <br> 2.50%) 8/23/32<br>| 145000 | 144391 |
| &nbsp;&nbsp; •TK Elevator Midco GmbH <br> 7.20% (6 mo. USD Term <br> SOFR + 3.00%) 4/30/30<br>| 497503 | 498588 |
| &nbsp;&nbsp; •TKO Worldwide Holdings LLC <br> 6.04% (3 mo. USD Term <br> SOFR + 2.00%) 11/21/31<br>| 114713 | 114838 |
| &nbsp;&nbsp; •Tory Burch LLC 7.53% (1 mo. <br> USD Term SOFR + 3.25%) <br> 4/16/28<br>| 497403 | 489230 |

---

*LVIP Fidelity Institutional AM*<sup>®</sup> *Total Bond Fund–26*

------

**LVIP Fidelity Institutional AM**<sup>®</sup> **Total Bond Fund**

**Schedule of Investments (continued)**

---

| | | |
|:---|:---|:---|
|  | **Principal**<br> **Amount°**<br>| **Value**<br> **(U.S. $)**<br>|
| **LOAN AGREEMENTS (continued)** | **LOAN AGREEMENTS (continued)** | **LOAN AGREEMENTS (continued)** |
| &nbsp;&nbsp; •TPC Group, Inc. 9.77% (3 mo. <br> USD Term SOFR + 5.75%) <br> 12/16/31<br>| 213838 | $205552 |
| •TransDigm, Inc. | •TransDigm, Inc. | •TransDigm, Inc. |
| &nbsp;&nbsp;&nbsp; 6.50% (3 mo. USD Term <br> SOFR + 2.50%) 2/28/31<br>| 744965 | 744481 |
| &nbsp;&nbsp;&nbsp; 6.50% (1 mo. USD Term <br> SOFR + 2.34%) 8/19/32<br>| 380000 | 379514 |
| &nbsp;&nbsp; •Truist Insurance <br> Holdings LLC 6.75% (3 mo. <br> USD Term SOFR + 2.75%) <br> 5/6/31<br>| 350000 | 349454 |
| &nbsp;&nbsp; •TTM Technologies, Inc. 6.53% <br> (1 mo. USD Term SOFR + <br> 2.25%) 5/30/30<br>| 249370 | 249994 |
| &nbsp;&nbsp; •UKG, Inc. 6.81% (3 mo. USD <br> Term SOFR + 2.50%) <br> 2/10/31<br>| 1246851 | 1245243 |
| •United FP Holdings LLC | •United FP Holdings LLC | •United FP Holdings LLC |
| &nbsp;&nbsp;&nbsp; 8.57% (3 mo. USD Term <br> SOFR + 4.00%) 12/30/26<br>| 1006753 | 965647 |
| &nbsp;&nbsp;&nbsp; 13.07% (3 mo. USD Term <br> SOFR + 8.50%) 12/30/27<br>| 50000 | 40063 |
| &nbsp;&nbsp; •Univision Communications, <br> Inc. 8.25% (3 mo. USD Term <br> SOFR + 4.25%) 6/24/29<br>| 746144 | 745756 |
| &nbsp;&nbsp; •USI, Inc. 6.25% (3 mo. USD <br> Term SOFR + 2.25%) <br> 9/29/30<br>| 497487 | 496691 |
| Van Pool Transportation LLC | Van Pool Transportation LLC | Van Pool Transportation LLC |
| ✠0.00% 8/6/30 | 11446 | 11474 |
| &nbsp;&nbsp;&nbsp; •7.25% (3 mo. USD Term <br> SOFR + 3.25%) 8/6/30<br>| 83554 | 83763 |
| &nbsp;&nbsp; •Varsity Brands, Inc. 7.03% (3 <br> mo. USD Term SOFR + <br> 3.00%) 8/26/31<br>| 497500 | 497251 |
| •Venture Global Plaquemines LNG LLC | •Venture Global Plaquemines LNG LLC | •Venture Global Plaquemines LNG LLC |
| &nbsp;&nbsp;&nbsp; 6.38% (1 mo. USD Term <br> SOFR + 2.23%) 5/25/29<br>| 46139 | 46139 |
| &nbsp;&nbsp;&nbsp; 6.39% (1 mo. USD Term <br> SOFR + 2.23%) 5/25/29<br>| 368861 | 368861 |
| &nbsp;&nbsp; •Vertiv Group Corp. 6.03% (1 <br> mo. USD Term SOFR + <br> 1.75%) 8/12/32<br>| 497497 | 497960 |
| &nbsp;&nbsp; •VFH Parent LLC 6.66% (1 mo. <br> USD Term SOFR + 2.50%) <br> 6/21/31<br>| 170000 | 170000 |
| &nbsp;&nbsp; •Virgin Media Bristol LLC <br> 7.37% (6 mo. USD Term <br> SOFR + 3.18%) 3/31/31<br>| 500000 | 492550 |
| &nbsp;&nbsp; •Vista Management Holding, <br> Inc. 7.74% (3 mo. USD Term <br> SOFR + 3.75%) 4/1/31<br>| 247500 | 248841 |
| &nbsp;&nbsp; •Vistra Operations Co. LLC <br> 5.91% (1 mo. USD Term <br> SOFR + 1.75%) 12/20/30<br>| 497468 | 497861 |

---

---

| | | |
|:---|:---|:---|
|  | **Principal**<br> **Amount°**<br>| **Value**<br> **(U.S. $)**<br>|
| **LOAN AGREEMENTS (continued)** | **LOAN AGREEMENTS (continued)** | **LOAN AGREEMENTS (continued)** |
| &nbsp;&nbsp; •W.R. Grace & Co.-Conn. 7.00% <br> (3 mo. USD Term SOFR + <br> 3.00%) 8/19/32<br>| 140000 | $140234 |
| &nbsp;&nbsp; •Wash Multifamily Parent, Inc. <br> 7.33% (1 mo. USD Term <br> SOFR + 3.25%) 9/10/32<br>| 110000 | 110366 |
| •WaterBridge Midstream Operating LLC | •WaterBridge Midstream Operating LLC | •WaterBridge Midstream Operating LLC |
| &nbsp;&nbsp;&nbsp; 8.17% (1 mo. USD Term <br> SOFR + 4.00%) 5/10/29<br>| 54786 | 54816 |
| &nbsp;&nbsp;&nbsp; 9.03% (1 mo. USD Term <br> SOFR + 4.75%) 6/27/29<br>| 497487 | 497612 |
| •Weber-Stephen Products LLC | •Weber-Stephen Products LLC | •Weber-Stephen Products LLC |
| &nbsp;&nbsp;&nbsp; 7.53% (1 mo. USD Term <br> SOFR + 3.25%) 10/30/27<br>| 958825 | 948039 |
| &nbsp;&nbsp;&nbsp; 7.74% (3 mo. USD Term <br> SOFR + 3.75%) 10/1/32<br>| 625000 | 617969 |
| &nbsp;&nbsp; •WEC U.S. Holdings Ltd. 6.53% <br> (1 mo. USD Term SOFR + <br> 2.25%) 1/27/31<br>| 498741 | 498875 |
| &nbsp;&nbsp; •WH Borrower LLC 8.95% (3 <br> mo. USD Term SOFR + <br> 4.75%) 2/20/32<br>| 1157100 | 1156915 |
| &nbsp;&nbsp; •Whatabrands LLC 6.66% (1 <br> mo. USD Term SOFR + <br> 2.50%) 8/3/28<br>| 497494 | 497747 |
| &nbsp;&nbsp; •White Cap Buyer LLC 7.42% <br> (1 mo. USD Term SOFR + <br> 3.25%) 10/19/29<br>| 334158 | 334088 |
| &nbsp;&nbsp; •WIN Waste Innovations <br> Holdings, Inc. 7.03% (1 mo. <br> USD Term SOFR + 2.75%) <br> 3/24/28<br>| 451225 | 450382 |
| &nbsp;&nbsp; •Windsor Holdings III LLC <br> 6.92% (1 mo. USD Term <br> SOFR + 2.75%) 8/1/30<br>| 497494 | 497494 |
| &nbsp;&nbsp; •Windstream Services LLC <br> 8.11% (1 mo. USD Term <br> SOFR + 4.00%) 10/6/32<br>| 480000 | 475200 |
| X Corp. | X Corp. | X Corp. |
| &nbsp;&nbsp; 9.50% 10/26/29 | 1510000 | 1513564 |
| &nbsp;&nbsp;&nbsp; •10.96% (3 mo. USD Term <br> SOFR + 6.50%) 10/26/29<br>| 194117 | 190262 |
| X.AI Corp. | X.AI Corp. | X.AI Corp. |
| &nbsp;&nbsp;&nbsp; •11.12% (6 mo. USD Term <br> SOFR + 7.25%) 6/28/30<br>| 354225 | 342270 |
| &nbsp;&nbsp; 12.50% 6/28/30 | 35000 | 36206 |
| &nbsp;&nbsp; •Zelis Payments Buyer, Inc. <br> 6.91% (1 mo. USD Term <br> SOFR + 2.75%) 9/28/29<br>| 497475 | 496022 |
| **Total Loan Agreements** <br>**(Cost $119,694,096)** | **Total Loan Agreements** <br>**(Cost $119,694,096)** | **119737422** |
| **NON-AGENCY ASSET-BACKED SECURITIES–8.06%** | **NON-AGENCY ASSET-BACKED SECURITIES–8.06%** | **NON-AGENCY ASSET-BACKED SECURITIES–8.06%** |
| &nbsp;&nbsp; Affirm Asset Securitization <br> Trust Series 2025-X1 Class B <br> 5.19% 4/15/30<br>| 1000000 | 1003783 |

---

*LVIP Fidelity Institutional AM*<sup>®</sup> *Total Bond Fund–27*

------

**LVIP Fidelity Institutional AM**<sup>®</sup> **Total Bond Fund**

**Schedule of Investments (continued)**

---

| | | |
|:---|:---|:---|
|  | **Principal**<br> **Amount°**<br>| **Value**<br> **(U.S. $)**<br>|
| **NON-AGENCY ASSET-BACKED SECURITIES (continued)** | **NON-AGENCY ASSET-BACKED SECURITIES (continued)** | **NON-AGENCY ASSET-BACKED SECURITIES (continued)** |
| &nbsp;&nbsp; •AIMCO CLO 10 Ltd. Series <br> 2019-10A Class ARR 5.74% <br> (3 mo. USD Term SOFR + <br> 1.41%) 7/22/37<br>| 10000000 | $10045850 |
| &nbsp;&nbsp; •Allegro CLO XIII Ltd. Series <br> 2021-1A Class A1R 5.66% (3 <br> mo. USD Term SOFR + <br> 1.34%) 7/20/38<br>| 511000 | 512295 |
| &nbsp;&nbsp; Amur Equipment Finance <br> Receivables XV LLC Series <br> 2025-1A Class A2 4.70% <br> 9/22/31<br>| 1700000 | 1715602 |
| &nbsp;&nbsp; •ARES LIV CLO Ltd. Series <br> 2019-54A Class AR2 5.62% (3 <br> mo. USD Term SOFR + <br> 1.31%) 7/15/38<br>| 953000 | 957276 |
| &nbsp;&nbsp; •ARES XXXIV CLO Ltd. Series <br> 2015-2A Class A1R4 5.53% (3 <br> mo. USD Term SOFR + <br> 1.29%) 7/17/38<br>| 1870000 | 1877299 |
| &nbsp;&nbsp; Avis Budget Rental Car <br> Funding AESOP LLC Series <br> 2025-1A Class A 4.80% <br> 8/20/29<br>| 445000 | 450751 |
| &nbsp;&nbsp; •Bain Capital Credit CLO Ltd. <br> Series 2023-2A Class A1R <br> 5.55% (3 mo. USD Term <br> SOFR + 1.32%) 7/18/38<br>| 1402000 | 1406774 |
| &nbsp;&nbsp; •BCRED BSL Static CLO Ltd. <br> Series 2025-1A Class AR <br> 5.54% (3 mo. USD Term <br> SOFR + 1.25%) 7/24/35<br>| 1304000 | 1301289 |
| &nbsp;&nbsp; •Beechwood Park CLO Ltd. <br> Series 2019-1A Class A1R <br> 5.62% (3 mo. USD Term <br> SOFR + 1.30%) 1/17/35<br>| 10000000 | 10018600 |
| &nbsp;&nbsp; •^Benefit Street Partners CLO <br> 43 Ltd. Series 2025-43A <br> Class A 0.00% (1.27% minus <br> 3 mo. USD Term SOFR) <br> 10/20/38<br>| 1306000 | 1306563 |
| &nbsp;&nbsp; Blackbird Capital II Aircraft <br> Lease Ltd. Series 2021-1A <br> Class A 2.44% 7/15/46<br>| 1942182 | 1834724 |
| &nbsp;&nbsp; BofA Auto Trust Series <br> 2025-1A Class A3 4.35% <br> 11/20/29<br>| 300000 | 301917 |
| &nbsp;&nbsp; •Cedar Funding XV CLO Ltd. <br> Series 2022-15A Class A <br> 5.65% (3 mo. USD Term <br> SOFR + 1.32%) 4/20/35<br>| 4500000 | 4499982 |
| CIFC Funding Ltd. | CIFC Funding Ltd. | CIFC Funding Ltd. |
| &nbsp;&nbsp;&nbsp; •Series 2019-5A Class A1R2 <br> 5.36% (3 mo. USD Term <br> SOFR + 1.27%) 10/15/38<br>| 1242000 | 1244944 |

---

---

| | | |
|:---|:---|:---|
|  | **Principal**<br> **Amount°**<br>| **Value**<br> **(U.S. $)**<br>|
| **NON-AGENCY ASSET-BACKED SECURITIES (continued)** | **NON-AGENCY ASSET-BACKED SECURITIES (continued)** | **NON-AGENCY ASSET-BACKED SECURITIES (continued)** |
| CIFC Funding Ltd. (continued) | CIFC Funding Ltd. (continued) | CIFC Funding Ltd. (continued) |
| &nbsp;&nbsp;&nbsp; •^Series 2025-6A Class A1 <br> 0.00% (1.25% minus 3 mo. <br> USD Term SOFR) 10/23/38<br>| 820000 | $820358 |
| &nbsp;&nbsp; Consolidated <br> Communications LLC/Fidium <br> Fiber Finance Holdco LLC <br> Series 2025-1A Class A2 <br> 6.00% 5/20/55<br>| 173000 | 177295 |
| DB Master Finance LLC | DB Master Finance LLC | DB Master Finance LLC |
| &nbsp;&nbsp;&nbsp; Series 2017-1A Class A2II <br> 4.03% 11/20/47<br>| 4625000 | 4572087 |
| &nbsp;&nbsp;&nbsp; Series 2019-1A Class A2II <br> 4.02% 5/20/49<br>| 3200700 | 3189235 |
| &nbsp;&nbsp;&nbsp; Series 2021-1A Class A23 <br> 2.79% 11/20/51<br>| 3760488 | 3337467 |
| &nbsp;&nbsp; Dell Equipment Finance <br> Trust Series 2023-3 Class A3 <br> 5.93% 4/23/29<br>| 1742080 | 1753592 |
| Domino's Pizza Master Issuer LLC | Domino's Pizza Master Issuer LLC | Domino's Pizza Master Issuer LLC |
| &nbsp;&nbsp;&nbsp; Series 2017-1A Class A23 <br> 4.12% 7/25/47<br>| 4700000 | 4668759 |
| &nbsp;&nbsp;&nbsp; Series 2021-1A Class A2I <br> 2.66% 4/25/51<br>| 14587500 | 13790401 |
| &nbsp;&nbsp;&nbsp; Series 2021-1A Class A2II <br> 3.15% 4/25/51<br>| 889838 | 813495 |
| &nbsp;&nbsp; •Dryden 108 CLO Ltd. Series <br> 2022-108A Class A1R 5.69% <br> (3 mo. USD Term SOFR + <br> 1.36%) 7/18/37<br>| 500000 | 501763 |
| •Eaton Vance CLO Ltd. | •Eaton Vance CLO Ltd. | •Eaton Vance CLO Ltd. |
| &nbsp;&nbsp;&nbsp; Series 2020-1A Class ARR <br> 5.71% (3 mo. USD Term <br> SOFR + 1.39%) 10/15/37<br>| 411000 | 411973 |
| &nbsp;&nbsp;&nbsp; Series 2020-2A Class AR2 <br> 5.70% (3 mo. USD Term <br> SOFR + 1.38%) 10/15/37<br>| 2750000 | 2756110 |
| &nbsp;&nbsp; Exeter Select Automobile <br> Receivables Trust Series <br> 2025-2 Class A3 4.43% <br> 8/15/30<br>| 140000 | 140898 |
| &nbsp;&nbsp; •^Flatiron CLO 20 Ltd. Series <br> 2020-1A Class A1R2 0.00% <br> (1.24% minus 3 mo. USD <br> Term SOFR) 11/20/38<br>| 1868000 | 1868000 |
| &nbsp;&nbsp; •Flatiron CLO 32 Ltd. Series <br> 2025-32A Class A1 5.61% (3 <br> mo. USD Term SOFR + <br> 1.29%) 10/22/38<br>| 1242000 | 1247370 |
| &nbsp;&nbsp; GreenSky Home Improvement <br> Issuer Trust Series 2025-2A <br> Class A2 4.93% 6/25/60<br>| 399102 | 400615 |
| &nbsp;&nbsp; Jersey Mike's Funding LLC <br> Series 2025-1A Class A2 <br> 5.61% 8/16/55<br>| 780000 | 796450 |

---

*LVIP Fidelity Institutional AM*<sup>®</sup> *Total Bond Fund–28*

------

**LVIP Fidelity Institutional AM**<sup>®</sup> **Total Bond Fund**

**Schedule of Investments (continued)**

---

| | | |
|:---|:---|:---|
|  | **Principal**<br> **Amount°**<br>| **Value**<br> **(U.S. $)**<br>|
| **NON-AGENCY ASSET-BACKED SECURITIES (continued)** | **NON-AGENCY ASSET-BACKED SECURITIES (continued)** | **NON-AGENCY ASSET-BACKED SECURITIES (continued)** |
| &nbsp;&nbsp; •Madison Park Funding LXVII <br> Ltd. Series 2024-67A <br> Class A1 5.83% (3 mo. USD <br> Term SOFR + 1.51%) <br> 4/25/37<br>| 4000000 | $4014048 |
| &nbsp;&nbsp; •Madison Park Funding XLVIII <br> Ltd. Series 2021-48A Class A <br> 5.74% (3 mo. USD Term <br> SOFR + 1.41%) 4/19/33<br>| 9001405 | 9014646 |
| &nbsp;&nbsp; •Magnetite XXIX Ltd. Series <br> 2021-29A Class AR 5.67% (3 <br> mo. USD Term SOFR + <br> 1.35%) 7/15/37<br>| 6500000 | 6519786 |
| &nbsp;&nbsp; •Magnetite XXXVI Ltd. Series <br> 2023-36A Class AR 5.64% (3 <br> mo. USD Term SOFR + <br> 1.32%) 7/25/38<br>| 1270000 | 1274474 |
| &nbsp;&nbsp; MetroNet Infrastructure <br> Issuer LLC Series 2025-2A <br> Class C 7.83% 8/20/55<br>| 100000 | 101486 |
| &nbsp;&nbsp; Navigator Aviation Ltd. Series <br> 2025-1 Class A 5.11% <br> 10/15/50<br>| 1890000 | 1896033 |
| OCP CLO Ltd. | OCP CLO Ltd. | OCP CLO Ltd. |
| &nbsp;&nbsp;&nbsp; •Series 2018-15A Class AR <br> 5.58% (3 mo. USD Term <br> SOFR + 1.25%) 1/20/38<br>| 819000 | 820209 |
| &nbsp;&nbsp;&nbsp; •^Series 2020-8RA Class AR2 <br> 0.00% (1.22% minus 3 mo. <br> USD Term SOFR) 10/17/38<br>| 1214000 | 1214000 |
| &nbsp;&nbsp;&nbsp; •Series 2025-44A Class A <br> 5.56% (3 mo. USD Term <br> SOFR + 1.30%) 10/24/38<br>| 1317000 | 1319379 |
| &nbsp;&nbsp; •OHA Credit Funding 6 Ltd. <br> Series 2020-6A Class AR2 <br> 5.66% (3 mo. USD Term <br> SOFR + 1.33%) 10/20/37<br>| 1450000 | 1453283 |
| &nbsp;&nbsp; •OHA Credit Partners VII Ltd. <br> Series 2012-7A Class AR4 <br> 5.34% (3 mo. USD Term <br> SOFR + 1.14%) 2/20/38<br>| 10000000 | 9994980 |
| &nbsp;&nbsp; Onemain Financial Issuance <br> Trust Series 2025-1A Class A <br> 4.82% 7/14/38<br>| 1500000 | 1515293 |
| Oportun Issuance Trust | Oportun Issuance Trust | Oportun Issuance Trust |
| &nbsp;&nbsp;&nbsp; Series 2025-B Class A 4.88% <br> 5/9/33<br>| 300000 | 301972 |
| &nbsp;&nbsp;&nbsp; Series 2025-C Class A 4.49% <br> 7/8/33<br>| 1100000 | 1104305 |
| &nbsp;&nbsp; •Palmer Square CLO Ltd. <br> Series 2025-2A Class A1 <br> 5.67% (3 mo. USD Term <br> SOFR + 1.35%) 7/20/38<br>| 2355000 | 2367018 |
| &nbsp;&nbsp; •Palmer Square Loan Funding <br> Ltd. Series 2025-2A Class A1 <br> 5.23% (3 mo. USD Term <br> SOFR + 0.94%) 7/15/33<br>| 1257000 | 1256886 |

---

---

| | | |
|:---|:---|:---|
|  | **Principal**<br> **Amount°**<br>| **Value**<br> **(U.S. $)**<br>|
| **NON-AGENCY ASSET-BACKED SECURITIES (continued)** | **NON-AGENCY ASSET-BACKED SECURITIES (continued)** | **NON-AGENCY ASSET-BACKED SECURITIES (continued)** |
| &nbsp;&nbsp; •Peace Park CLO Ltd. Series <br> 2021-1A Class AR 5.41% (3 <br> mo. USD Term SOFR + <br> 1.25%) 10/20/38<br>| 8656000 | $8681535 |
| &nbsp;&nbsp; PK Alift Loan Funding 7 LP <br> Series 2025-2 Class A 4.75% <br> 3/15/43<br>| 1415000 | 1415191 |
| &nbsp;&nbsp; RCKT Trust Series 2025-1A <br> Class A 4.90% 7/25/34<br>| 330601 | 331353 |
| &nbsp;&nbsp; Reach ABS Trust Series <br> 2025-2A Class A 4.93% <br> 8/18/32<br>| 537461 | 539594 |
| &nbsp;&nbsp; •RR 34 Ltd. Series 2024-34RA <br> Class A1R 5.67% (3 mo. USD <br> Term SOFR + 1.35%) <br> 10/15/39<br>| 250000 | 250843 |
| &nbsp;&nbsp; •Sixth Street CLO XIX Ltd. <br> Series 2021-19A Class A1R <br> 5.56% (3 mo. USD Term <br> SOFR + 1.28%) 7/17/38<br>| 810000 | 812058 |
| &nbsp;&nbsp; •Sixth Street CLO XVIII Ltd. <br> Series 2021-18A Class A1R <br> 5.46% (3 mo. USD Term <br> SOFR + 1.25%) 10/17/38<br>| 1240000 | 1242590 |
| &nbsp;&nbsp; •Sixth Street CLO XX Ltd. <br> Series 2021-20A Class A1R <br> 5.58% (3 mo. USD Term <br> SOFR + 1.32%) 7/17/38<br>| 1030000 | 1033370 |
| &nbsp;&nbsp; Slam Ltd. Series 2025-1A <br> Class A 5.81% 5/15/50<br>| 877035 | 899481 |
| Subway Funding LLC | Subway Funding LLC | Subway Funding LLC |
| &nbsp;&nbsp;&nbsp; Series 2024-1A Class A23 <br> 6.51% 7/30/54<br>| 4962500 | 5179994 |
| &nbsp;&nbsp;&nbsp; Series 2024-1A Class A2I <br> 6.03% 7/30/54<br>| 2898100 | 2938109 |
| &nbsp;&nbsp;&nbsp; Series 2024-1A Class A2II <br> 6.27% 7/30/54<br>| 4962500 | 5090147 |
| &nbsp;&nbsp;&nbsp; Series 2024-3A Class A23 <br> 5.91% 7/30/54<br>| 4962500 | 4942877 |
| &nbsp;&nbsp; •Symphony CLO 43 Ltd. Series <br> 2024-43A Class A1 5.84% (3 <br> mo. USD Term SOFR + <br> 1.52%) 4/15/37<br>| 6800000 | 6824215 |
| &nbsp;&nbsp; •Symphony CLO XXVI Ltd. <br> Series 2021-26A Class AR <br> 5.67% (3 mo. USD Term <br> SOFR + 1.34%) 4/20/33<br>| 7680417 | 7682253 |
| &nbsp;&nbsp; Taco Bell Funding LLC Series <br> 2025-1A Class A2I 4.82% <br> 8/25/55<br>| 1780000 | 1783718 |
| &nbsp;&nbsp; UPX HIL Issuer Trust Series <br> 2025-1 Class B 6.07% <br> 1/25/47<br>| 200000 | 201428 |
| VB-S1 Issuer LLC | VB-S1 Issuer LLC | VB-S1 Issuer LLC |
| &nbsp;&nbsp;&nbsp; Series 2024-1A Class D <br> 6.64% 5/15/54<br>| 200000 | 202314 |

---

*LVIP Fidelity Institutional AM*<sup>®</sup> *Total Bond Fund–29*

------

**LVIP Fidelity Institutional AM**<sup>®</sup> **Total Bond Fund**

**Schedule of Investments (continued)**

---

| | | |
|:---|:---|:---|
|  | **Principal**<br> **Amount°**<br>| **Value**<br> **(U.S. $)**<br>|
| **NON-AGENCY ASSET-BACKED SECURITIES (continued)** | **NON-AGENCY ASSET-BACKED SECURITIES (continued)** | **NON-AGENCY ASSET-BACKED SECURITIES (continued)** |
| VB-S1 Issuer LLC (continued) | VB-S1 Issuer LLC (continued) | VB-S1 Issuer LLC (continued) |
| &nbsp;&nbsp;&nbsp; Series 2024-1A Class F 8.87% <br> 5/15/54<br>| 300000 | $311033 |
| &nbsp;&nbsp; Verdant Receivables LLC <br> Series 2025-1A Class A2 <br> 4.85% 3/13/28<br>| 565000 | 568028 |
| &nbsp;&nbsp; Willis Engine Structured <br> Trust VIII Series 2025-A <br> Class A 5.58% 6/15/50<br>| 1050880 | 1064201 |
| **Total Non-Agency Asset-Backed Securities** <br>**(Cost $175,644,809)** | **Total Non-Agency Asset-Backed Securities** <br>**(Cost $175,644,809)** | **175885647** |
| **NON-AGENCY COLLATERALIZED MORTGAGE** <br> **OBLIGATIONS–0.54%** | **NON-AGENCY COLLATERALIZED MORTGAGE** <br> **OBLIGATIONS–0.54%** | **NON-AGENCY COLLATERALIZED MORTGAGE** <br> **OBLIGATIONS–0.54%** |
| &nbsp;&nbsp; •Bravo Residential Funding <br> Trust Series 2025-NQM5 <br> Class A1 5.50% 2/25/65<br>| 734517 | 741220 |
| &nbsp;&nbsp; •CIM Trust Series 2021-R3 <br> Class A1A 1.95% 6/25/57<br>| 1607338 | 1489912 |
| &nbsp;&nbsp; •Cross Mortgage Trust Series <br> 2025-H4 Class A1 5.60% <br> 6/25/70<br>| 857055 | 865246 |
| &nbsp;&nbsp; •CSMC Trust Series 2021-RPL7 <br> Class A1 4.21% 7/27/61<br>| 1897286 | 1899240 |
| &nbsp;&nbsp; •GS Mortgage-Backed <br> Securities Trust Series <br> 2024-RPL2 Class A1 3.75% <br> 7/25/61<br>| 1985124 | 1941861 |
| &nbsp;&nbsp; •JP Morgan Mortgage Trust <br> Series 2025-NQM2 Class A1 <br> 5.57% 9/25/65<br>| 289102 | 292021 |
| &nbsp;&nbsp; •Morgan Stanley Residential <br> Mortgage Loan Trust Series <br> 2025-NQM3 Class A1 5.53% <br> 5/25/70<br>| 494989 | 499973 |
| &nbsp;&nbsp; •NYMT Loan Trust Series <br> 2025-CP1 Class A1 3.75% <br> 11/25/69<br>| 587551 | 563269 |
| &nbsp;&nbsp; φOBX Trust Series <br> 2025-NQM10 Class A1 5.45% <br> 5/25/65<br>| 581414 | 586556 |
| &nbsp;&nbsp; φPRET Trust Series 2025-RPL3 <br> Class A1 4.15% 4/25/65<br>| 388026 | 376631 |
| φPRPM LLC | φPRPM LLC | φPRPM LLC |
| &nbsp;&nbsp;&nbsp; Series 2024-RPL1 Class A1 <br> 4.20% 12/25/64<br>| 166768 | 164547 |
| &nbsp;&nbsp;&nbsp; Series 2024-RPL4 Class A1 <br> 4.00% 12/25/54<br>| 91313 | 89656 |
| &nbsp;&nbsp; φRCO VIII Mortgage LLC <br> Series 2025-3 Class A1 6.43% <br> 5/25/30<br>| 431860 | 432840 |
| &nbsp;&nbsp; φVerus Securitization Trust <br> Series 2025-5 Class A1 5.43% <br> 6/25/70<br>| 1929479 | 1945196 |
| **Total Non-Agency Collateralized Mortgage** <br> **Obligations** <br>**(Cost $11,744,650)** | **Total Non-Agency Collateralized Mortgage** <br> **Obligations** <br>**(Cost $11,744,650)** | **11888168** |

---

---

| | | |
|:---|:---|:---|
|  | **Principal**<br> **Amount°**<br>| **Value**<br> **(U.S. $)**<br>|
| **NON-AGENCY COMMERCIAL MORTGAGE-BACKED** <br> **SECURITIES–3.55%** | **NON-AGENCY COMMERCIAL MORTGAGE-BACKED** <br> **SECURITIES–3.55%** | **NON-AGENCY COMMERCIAL MORTGAGE-BACKED** <br> **SECURITIES–3.55%** |
| &nbsp;&nbsp; •ALA Trust Series 2025-OANA <br> Class A 5.89% (1 mo. USD <br> Term SOFR + 1.74%) <br> 6/15/40<br>| 940000 | $944700 |
| &nbsp;&nbsp; •ARES Trust Series 2025-IND3 <br> Class D 6.70% (1 mo. USD <br> Term SOFR + 2.55%) <br> 4/15/42<br>| 140000 | 140087 |
| &nbsp;&nbsp; •Bank Series 2018-BN10 <br> Class C 4.16% 2/15/61<br>| 200000 | 177676 |
| &nbsp;&nbsp; •Bank of America Merrill <br> Lynch Commercial Mortgage <br> Trust Series 2016-UB10 <br> Class C 4.98% 7/15/49<br>| 100000 | 97721 |
| &nbsp;&nbsp; \*•Bank5 Series 2025-5YR16 <br> Class XB 0.55% 8/15/63<br>| 2000000 | 37970 |
| BBCMS Mortgage Trust | BBCMS Mortgage Trust | BBCMS Mortgage Trust |
| &nbsp;&nbsp;&nbsp; •Series 2024-C30 Class C <br> 5.98% 11/15/57<br>| 100000 | 100272 |
| &nbsp;&nbsp;&nbsp; •Series 2025-5C34 Class C <br> 7.03% 5/15/58<br>| 275000 | 288252 |
| &nbsp;&nbsp;&nbsp; •Series 2025-5C37 Class C <br> 6.00% 9/15/58<br>| 144000 | 145671 |
| &nbsp;&nbsp;&nbsp; Series 2025-C32 Class C <br> 6.13% 2/15/62<br>| 125000 | 126098 |
| &nbsp;&nbsp;&nbsp; •Series 2025-C35 Class C <br> 6.32% 7/15/58<br>| 100000 | 101259 |
| Benchmark Mortgage Trust | Benchmark Mortgage Trust | Benchmark Mortgage Trust |
| &nbsp;&nbsp;&nbsp; •Series 2022-B33 Class C <br> 3.73% 3/15/55<br>| 200000 | 158581 |
| &nbsp;&nbsp;&nbsp; Series 2025-B41 Class C <br> 6.14% 7/15/68<br>| 100000 | 101807 |
| &nbsp;&nbsp; •BFLD Commercial Mortgage <br> Trust Series 2024-UNIV <br> Class E 7.79% (1 mo. USD <br> Term SOFR + 3.64%) <br> 11/15/41<br>| 100000 | 100528 |
| &nbsp;&nbsp; •BFLD Mortgage Trust Series <br> 2024-WRHS Class E 7.84% (1 <br> mo. USD Term SOFR + <br> 3.69%) 8/15/26<br>| 185399 | 184936 |
| BMO Mortgage Trust | BMO Mortgage Trust | BMO Mortgage Trust |
| &nbsp;&nbsp;&nbsp; \*•Series 2025-5C11 Class XB <br> 0.81% 7/15/58<br>| 4000000 | 108204 |
| &nbsp;&nbsp;&nbsp; \*•Series 2025-5C12 Class XB <br> 0.97% 10/15/58<br>| 2300000 | 83138 |
| &nbsp;&nbsp;&nbsp; •Series 2025-C12 Class C <br> 6.61% 6/15/58<br>| 113000 | 117534 |
| &nbsp;&nbsp;&nbsp; •Series 2025-C13 Class C <br> 6.13% 10/15/58<br>| 100000 | 100092 |
| •BMP Trust | •BMP Trust | •BMP Trust |
| &nbsp;&nbsp;&nbsp; Series 2024-MF23 Class B <br> 5.79% (1 mo. USD Term <br> SOFR + 1.64%) 6/15/41<br>| 1113000 | 1115435 |

---

*LVIP Fidelity Institutional AM*<sup>®</sup> *Total Bond Fund–30*

------

**LVIP Fidelity Institutional AM**<sup>®</sup> **Total Bond Fund**

**Schedule of Investments (continued)**

---

| | | |
|:---|:---|:---|
|  | **Principal**<br> **Amount°**<br>| **Value**<br> **(U.S. $)**<br>|
| **NON-AGENCY COMMERCIAL MORTGAGE-BACKED** <br> **SECURITIES (continued)** | **NON-AGENCY COMMERCIAL MORTGAGE-BACKED** <br> **SECURITIES (continued)** | **NON-AGENCY COMMERCIAL MORTGAGE-BACKED** <br> **SECURITIES (continued)** |
| •BMP Trust (continued) | •BMP Trust (continued) | •BMP Trust (continued) |
| &nbsp;&nbsp;&nbsp; Series 2024-MF23 Class E <br> 7.54% (1 mo. USD Term <br> SOFR + 3.39%) 6/15/41<br>| 100000 | $100000 |
| •BPR Commercial Mortgage Trust | •BPR Commercial Mortgage Trust | •BPR Commercial Mortgage Trust |
| &nbsp;&nbsp;&nbsp; Series 2024-PARK Class A <br> 5.39% 11/5/39<br>| 5800000 | 5905524 |
| &nbsp;&nbsp;&nbsp; Series 2024-PARK Class D <br> 7.23% 11/5/39<br>| 120000 | 123687 |
| &nbsp;&nbsp; •BPR Trust Series 2023-BRK2 <br> Class C 8.63% 10/5/38<br>| 275000 | 289560 |
| •BX Commercial Mortgage Trust | •BX Commercial Mortgage Trust | •BX Commercial Mortgage Trust |
| &nbsp;&nbsp;&nbsp; Series 2020-VIV2 Class C <br> 3.66% 3/9/44<br>| 3211000 | 2973877 |
| &nbsp;&nbsp;&nbsp; Series 2020-VIVA Class D <br> 3.67% 3/11/44<br>| 290000 | 267336 |
| &nbsp;&nbsp;&nbsp; Series 2020-VIVA Class E <br> 3.67% 3/11/44<br>| 235000 | 211192 |
| &nbsp;&nbsp;&nbsp; Series 2021-ACNT Class B <br> 5.51% (1 mo. USD Term <br> SOFR + 1.36%) 11/15/38<br>| 207523 | 207328 |
| &nbsp;&nbsp;&nbsp; Series 2021-CIP Class F <br> 7.48% (1 mo. USD Term <br> SOFR + 3.33%) 12/15/38<br>| 131947 | 131782 |
| &nbsp;&nbsp;&nbsp; Series 2021-SOAR Class F <br> 6.62% (1 mo. USD Term <br> SOFR + 2.46%) 6/15/38<br>| 504124 | 504124 |
| &nbsp;&nbsp;&nbsp; Series 2021-VOLT Class E <br> 6.26% (1 mo. USD Term <br> SOFR + 2.11%) 9/15/36<br>| 261584 | 261100 |
| &nbsp;&nbsp;&nbsp; Series 2021-VOLT Class G <br> 7.11% (1 mo. USD Term <br> SOFR + 2.96%) 9/15/36<br>| 387531 | 381718 |
| &nbsp;&nbsp;&nbsp; Series 2021-XL2 Class G <br> 7.11% (1 mo. USD Term <br> SOFR + 2.96%) 10/15/38<br>| 74352 | 74398 |
| &nbsp;&nbsp;&nbsp; Series 2022-LP2 Class C <br> 5.71% (1 mo. USD Term <br> SOFR + 1.56%) 2/15/39<br>| 175000 | 174781 |
| &nbsp;&nbsp;&nbsp; Series 2022-LP2 Class G <br> 8.26% (1 mo. USD Term <br> SOFR + 4.11%) 2/15/39<br>| 105000 | 104883 |
| &nbsp;&nbsp;&nbsp; Series 2023-XL3 Class C <br> 6.79% (1 mo. USD Term <br> SOFR + 2.64%) 12/9/40<br>| 136042 | 136509 |
| &nbsp;&nbsp;&nbsp; Series 2023-XL3 Class D <br> 7.74% (1 mo. USD Term <br> SOFR + 3.59%) 12/9/40<br>| 107401 | 107938 |
| &nbsp;&nbsp;&nbsp; Series 2024-GPA3 Class A <br> 5.44% (1 mo. USD Term <br> SOFR + 1.29%) 12/15/39<br>| 2967446 | 2972989 |
| &nbsp;&nbsp;&nbsp; Series 2024-KING Class E <br> 7.84% (1 mo. USD Term <br> SOFR + 3.69%) 5/15/34<br>| 345452 | 346963 |

---

---

| | | |
|:---|:---|:---|
|  | **Principal**<br> **Amount°**<br>| **Value**<br> **(U.S. $)**<br>|
| **NON-AGENCY COMMERCIAL MORTGAGE-BACKED** <br> **SECURITIES (continued)** | **NON-AGENCY COMMERCIAL MORTGAGE-BACKED** <br> **SECURITIES (continued)** | **NON-AGENCY COMMERCIAL MORTGAGE-BACKED** <br> **SECURITIES (continued)** |
| •BX Commercial Mortgage Trust (continued) | •BX Commercial Mortgage Trust (continued) | •BX Commercial Mortgage Trust (continued) |
| &nbsp;&nbsp;&nbsp; Series 2024-MDHS Class A <br> 5.79% (1 mo. USD Term <br> SOFR + 1.64%) 5/15/41<br>| 208354 | $208614 |
| &nbsp;&nbsp;&nbsp; Series 2024-MF Class D <br> 6.84% (1 mo. USD Term <br> SOFR + 2.69%) 2/15/39<br>| 442727 | 443795 |
| &nbsp;&nbsp;&nbsp; Series 2024-XL4 Class A <br> 5.59% (1 mo. USD Term <br> SOFR + 1.44%) 2/15/39<br>| 5177698 | 5182552 |
| &nbsp;&nbsp;&nbsp; Series 2024-XL4 Class B <br> 5.94% (1 mo. USD Term <br> SOFR + 1.79%) 2/15/39<br>| 1392053 | 1395533 |
| &nbsp;&nbsp;&nbsp; Series 2024-XL4 Class D <br> 7.29% (1 mo. USD Term <br> SOFR + 3.14%) 2/15/39<br>| 102084 | 102403 |
| &nbsp;&nbsp;&nbsp; Series 2024-XL4 Class E <br> 8.34% (1 mo. USD Term <br> SOFR + 4.19%) 2/15/39<br>| 106724 | 106973 |
| &nbsp;&nbsp;&nbsp; Series 2024-XL5 Class A <br> 5.54% (1 mo. USD Term <br> SOFR + 1.39%) 3/15/41<br>| 5600857 | 5604335 |
| &nbsp;&nbsp;&nbsp; Series 2024-XL5 Class D <br> 6.84% (1 mo. USD Term <br> SOFR + 2.69%) 3/15/41<br>| 140902 | 141166 |
| &nbsp;&nbsp;&nbsp; Series 2025-SPOT Class D <br> 6.64% (1 mo. USD Term <br> SOFR + 2.49%) 4/15/40<br>| 279533 | 279533 |
| &nbsp;&nbsp;&nbsp; Series 2025-SPOT Class E <br> 7.84% (1 mo. USD Term <br> SOFR + 3.69%) 4/15/40<br>| 349416 | 349416 |
| BX Trust | BX Trust | BX Trust |
| &nbsp;&nbsp;&nbsp; Series 2019-OC11 Class A <br> 3.20% 12/9/41<br>| 530000 | 500374 |
| &nbsp;&nbsp;&nbsp; •Series 2019-OC11 Class E <br> 4.08% 12/9/41<br>| 525000 | 480418 |
| &nbsp;&nbsp;&nbsp; •Series 2021-BXMF Class A <br> 4.90% (1 mo. USD Term <br> SOFR + 0.75%) 10/15/26<br>| 4040130 | 4035079 |
| &nbsp;&nbsp;&nbsp; •Series 2021-LBA Class EV <br> 6.27% (1 mo. USD Term <br> SOFR + 2.11%) 2/15/36<br>| 197702 | 197208 |
| &nbsp;&nbsp;&nbsp; •Series 2021-MFM1 Class F <br> 7.26% (1 mo. USD Term <br> SOFR + 3.11%) 1/15/34<br>| 238000 | 237958 |
| &nbsp;&nbsp;&nbsp; •Series 2021-RISE Class G <br> 7.21% (1 mo. USD Term <br> SOFR + 3.06%) 11/15/36<br>| 116021 | 116130 |
| &nbsp;&nbsp;&nbsp; •Series 2021-SDMF Class F <br> 6.20% (1 mo. USD Term <br> SOFR + 2.05%) 9/15/34<br>| 299736 | 298612 |
| &nbsp;&nbsp;&nbsp; •Series 2022-VAMF Class E <br> 6.85% (1 mo. USD Term <br> SOFR + 2.70%) 1/15/39<br>| 104000 | 103611 |

---

*LVIP Fidelity Institutional AM*<sup>®</sup> *Total Bond Fund–31*

------

**LVIP Fidelity Institutional AM**<sup>®</sup> **Total Bond Fund**

**Schedule of Investments (continued)**

---

| | | |
|:---|:---|:---|
|  | **Principal**<br> **Amount°**<br>| **Value**<br> **(U.S. $)**<br>|
| **NON-AGENCY COMMERCIAL MORTGAGE-BACKED** <br> **SECURITIES (continued)** | **NON-AGENCY COMMERCIAL MORTGAGE-BACKED** <br> **SECURITIES (continued)** | **NON-AGENCY COMMERCIAL MORTGAGE-BACKED** <br> **SECURITIES (continued)** |
| BX Trust (continued) | BX Trust (continued) | BX Trust (continued) |
| &nbsp;&nbsp;&nbsp; •Series 2022-VAMF Class F <br> 7.45% (1 mo. USD Term <br> SOFR + 3.30%) 1/15/39<br>| 250000 | $248698 |
| &nbsp;&nbsp;&nbsp; •Series 2024-CNYN Class A <br> 5.59% (1 mo. USD Term <br> SOFR + 1.44%) 4/15/41<br>| 1014209 | 1015476 |
| &nbsp;&nbsp;&nbsp; •Series 2024-VLT4 Class E <br> 7.04% (1 mo. USD Term <br> SOFR + 2.89%) 6/15/41<br>| 275000 | 275344 |
| &nbsp;&nbsp;&nbsp; •Series 2024-VLT4 Class F <br> 8.09% (1 mo. USD Term <br> SOFR + 3.94%) 6/15/41<br>| 500000 | 502158 |
| &nbsp;&nbsp;&nbsp; •Series 2025-DIME Class A <br> 5.30% (1 mo. USD Term <br> SOFR + 1.15%) 2/15/35<br>| 1313000 | 1310127 |
| &nbsp;&nbsp;&nbsp; •Series 2025-LUNR Class E <br> 8.10% (1 mo. USD Term <br> SOFR + 3.95%) 6/15/40<br>| 95559 | 95558 |
| &nbsp;&nbsp;&nbsp; •Series 2025-OMG Class F <br> 7.75% (1 mo. USD Term <br> SOFR + 3.60%) 10/15/27<br>| 100000 | 100000 |
| &nbsp;&nbsp;&nbsp; •Series 2025-ROIC Class A <br> 5.29% (1 mo. USD Term <br> SOFR + 1.14%) 3/15/30<br>| 3693594 | 3685510 |
| &nbsp;&nbsp;&nbsp; •Series 2025-ROIC Class C <br> 5.69% (1 mo. USD Term <br> SOFR + 1.54%) 3/15/30<br>| 3164657 | 3156747 |
| &nbsp;&nbsp;&nbsp; •Series 2025-ROIC Class E <br> 7.09% (1 mo. USD Term <br> SOFR + 2.94%) 3/15/30<br>| 124514 | 124203 |
| &nbsp;&nbsp;&nbsp; •Series 2025-TAIL Class A <br> 5.55% (1 mo. USD Term <br> SOFR + 1.40%) 6/15/35<br>| 496000 | 495224 |
| &nbsp;&nbsp;&nbsp; •Series 2025-TAIL Class D <br> 6.60% (1 mo. USD Term <br> SOFR + 2.45%) 6/15/35<br>| 128000 | 128197 |
| &nbsp;&nbsp;&nbsp; •Series 2025-TAIL Class E <br> 7.45% (1 mo. USD Term <br> SOFR + 3.30%) 6/15/35<br>| 200000 | 200153 |
| &nbsp;&nbsp;&nbsp; •Series 2025-VLT6 Class E <br> 7.34% (1 mo. USD Term <br> SOFR + 3.19%) 3/15/42<br>| 383000 | 382163 |
| &nbsp;&nbsp;&nbsp; •Series 2025-VLT6 Class F <br> 8.09% (1 mo. USD Term <br> SOFR + 3.94%) 3/15/42<br>| 256000 | 252317 |
| &nbsp;&nbsp;&nbsp; •Series 2025-VLT7 Class D <br> 7.40% (1 mo. USD Term <br> SOFR + 3.25%) 7/15/44<br>| 250000 | 251873 |
| CENT Trust | CENT Trust | CENT Trust |
| &nbsp;&nbsp;&nbsp; •Series 2025-CITY Class A <br> 5.09% 7/10/40<br>| 1046000 | 1052977 |
| &nbsp;&nbsp;&nbsp; \*Series 2025-CITY Class X <br> 0.21% 7/10/40<br>| 10300000 | 74904 |

---

---

| | | |
|:---|:---|:---|
|  | **Principal**<br> **Amount°**<br>| **Value**<br> **(U.S. $)**<br>|
| **NON-AGENCY COMMERCIAL MORTGAGE-BACKED** <br> **SECURITIES (continued)** | **NON-AGENCY COMMERCIAL MORTGAGE-BACKED** <br> **SECURITIES (continued)** | **NON-AGENCY COMMERCIAL MORTGAGE-BACKED** <br> **SECURITIES (continued)** |
| &nbsp;&nbsp; •Citigroup Commercial <br> Mortgage Trust Series <br> 2023-SMRT Class D 6.05% <br> 10/12/40<br>| 127000 | $126488 |
| •COMM Mortgage Trust | •COMM Mortgage Trust | •COMM Mortgage Trust |
| &nbsp;&nbsp;&nbsp; Series 2015-DC1 Class B <br> 4.04% 2/10/48<br>| 240000 | 228354 |
| &nbsp;&nbsp;&nbsp; Series 2015-DC1 Class C <br> 4.43% 2/10/48<br>| 250000 | 224394 |
| &nbsp;&nbsp;&nbsp; Series 2015-LC19 Class C <br> 4.20% 2/10/48<br>| 125000 | 117857 |
| &nbsp;&nbsp;&nbsp; Series 2025-180W Class F <br> 7.61% 8/10/42<br>| 100000 | 97098 |
| &nbsp;&nbsp; •CONE Trust Series <br> 2024-DFW1 Class E 8.04% (1 <br> mo. USD Term SOFR + <br> 3.89%) 8/15/41<br>| 377000 | 377484 |
| &nbsp;&nbsp; DB-JPM Mortgage Trust <br> Series 2020-C9 Class B 2.57% <br> 8/15/53<br>| 100000 | 85013 |
| •ELP Commercial Mortgage Trust | •ELP Commercial Mortgage Trust | •ELP Commercial Mortgage Trust |
| &nbsp;&nbsp;&nbsp; Series 2021-ELP Class E <br> 6.38% (1 mo. USD Term <br> SOFR + 2.23%) 11/15/38<br>| 109091 | 109023 |
| &nbsp;&nbsp;&nbsp; Series 2021-ELP Class G <br> 7.38% (1 mo. USD Term <br> SOFR + 3.23%) 11/15/38<br>| 111075 | 110936 |
| &nbsp;&nbsp;&nbsp; Series 2021-ELP Class J <br> 7.88% (1 mo. USD Term <br> SOFR + 3.73%) 11/15/38<br>| 99174 | 99173 |
| •Extended Stay America Trust | •Extended Stay America Trust | •Extended Stay America Trust |
| &nbsp;&nbsp;&nbsp; Series 2021-ESH Class A <br> 5.34% (1 mo. USD Term <br> SOFR + 1.19%) 7/15/38<br>| 3457432 | 3457433 |
| &nbsp;&nbsp;&nbsp; Series 2021-ESH Class F <br> 7.96% (1 mo. USD Term <br> SOFR + 3.81%) 7/15/38<br>| 210819 | 210819 |
| &nbsp;&nbsp;&nbsp; Series 2025-ESH Class A <br> 5.45% (1 mo. USD Term <br> SOFR + 1.30%) 10/15/42<br>| 2500000 | 2504687 |
| &nbsp;&nbsp;&nbsp; Series 2025-ESH Class B <br> 5.75% (1 mo. USD Term <br> SOFR + 1.60%) 10/15/42<br>| 445000 | 445834 |
| &nbsp;&nbsp;&nbsp; Series 2025-ESH Class C <br> 6.00% (1 mo. USD Term <br> SOFR + 1.85%) 10/15/42<br>| 215000 | 215537 |
| &nbsp;&nbsp;&nbsp; Series 2025-ESH Class E <br> 7.50% (1 mo. USD Term <br> SOFR + 3.35%) 10/15/42<br>| 100000 | 100250 |
| &nbsp;&nbsp;&nbsp; Series 2025-ESH Class F <br> 8.25% (1 mo. USD Term <br> SOFR + 4.10%) 10/15/42<br>| 100000 | 100250 |

---

*LVIP Fidelity Institutional AM*<sup>®</sup> *Total Bond Fund–32*

------

**LVIP Fidelity Institutional AM**<sup>®</sup> **Total Bond Fund**

**Schedule of Investments (continued)**

---

| | | |
|:---|:---|:---|
|  | **Principal**<br> **Amount°**<br>| **Value**<br> **(U.S. $)**<br>|
| **NON-AGENCY COMMERCIAL MORTGAGE-BACKED** <br> **SECURITIES (continued)** | **NON-AGENCY COMMERCIAL MORTGAGE-BACKED** <br> **SECURITIES (continued)** | **NON-AGENCY COMMERCIAL MORTGAGE-BACKED** <br> **SECURITIES (continued)** |
| &nbsp;&nbsp; •Fontainebleau Miami Beach <br> Mortgage Trust Series <br> 2024-FBLU Class G 9.80% (1 <br> mo. USD Term SOFR + <br> 5.65%) 12/15/39<br>| 131000 | $131674 |
| •GS Mortgage Securities Corp. Trust | •GS Mortgage Securities Corp. Trust | •GS Mortgage Securities Corp. Trust |
| &nbsp;&nbsp;&nbsp; Series 2023-SHIP Class E <br> 7.68% 9/10/38<br>| 250000 | 251279 |
| &nbsp;&nbsp;&nbsp; Series 2025-800D Class A <br> 6.79% (1 mo. USD Term <br> SOFR + 2.65%) 11/25/41<br>| 120000 | 120319 |
| •GS Mortgage Securities Trust | •GS Mortgage Securities Trust | •GS Mortgage Securities Trust |
| &nbsp;&nbsp;&nbsp; Series 2019-GC38 Class B <br> 4.31% 2/10/52<br>| 150888 | 145026 |
| &nbsp;&nbsp;&nbsp; Series 2019-GC42 Class C <br> 3.82% 9/10/52<br>| 155000 | 133092 |
| &nbsp;&nbsp;&nbsp; Series 2019-GSA1 Class C <br> 3.93% 11/10/52<br>| 125000 | 113843 |
| &nbsp;&nbsp; •GSAT Trust Series 2025-BMF <br> Class F 8.30% (1 mo. USD <br> Term SOFR + 4.15%) <br> 7/15/40<br>| 130000 | 130157 |
| &nbsp;&nbsp; •HAVN Trust Series 2025-MOB <br> Class A 6.00% (1 mo. USD <br> Term SOFR + 1.70%) <br> 10/15/27<br>| 270000 | 270052 |
| &nbsp;&nbsp; •Hilton USA Trust Series <br> 2016-HHV Class F 4.33% <br> 11/5/38<br>| 350000 | 340087 |
| &nbsp;&nbsp; •IP Mortgage Trust Series <br> 2025-IP Class F 7.97% <br> 6/10/42<br>| 200000 | 201949 |
| •JP Morgan Chase Commercial Mortgage Securities Trust | •JP Morgan Chase Commercial Mortgage Securities Trust | •JP Morgan Chase Commercial Mortgage Securities Trust |
| &nbsp;&nbsp;&nbsp; Series 2021-MHC Class E <br> 6.97% (1 mo. USD Term <br> SOFR + 2.81%) 4/15/38<br>| 170000 | 170213 |
| &nbsp;&nbsp;&nbsp; Series 2021-MHC Class F <br> 7.47% (1 mo. USD Term <br> SOFR + 3.31%) 4/15/38<br>| 200000 | 200375 |
| &nbsp;&nbsp; •JPMBB Commercial Mortgage <br> Securities Trust Series <br> 2014-C26 Class D 3.70% <br> 1/15/48<br>| 250000 | 218911 |
| &nbsp;&nbsp; JPMDB Commercial <br> Mortgage Securities Trust <br> Series 2019-COR6 Class A4 <br> 3.06% 11/13/52<br>| 800000 | 724362 |
| •KIND Trust | •KIND Trust | •KIND Trust |
| &nbsp;&nbsp;&nbsp; Series 2021-KIND Class D <br> 6.57% (1 mo. USD Term <br> SOFR + 2.41%) 8/15/38<br>| 223167 | 220936 |
| &nbsp;&nbsp;&nbsp; Series 2021-KIND Class E <br> 7.52% (1 mo. USD Term <br> SOFR + 3.36%) 8/15/38<br>| 113071 | 111480 |

---

---

| | | |
|:---|:---|:---|
|  | **Principal**<br> **Amount°**<br>| **Value**<br> **(U.S. $)**<br>|
| **NON-AGENCY COMMERCIAL MORTGAGE-BACKED** <br> **SECURITIES (continued)** | **NON-AGENCY COMMERCIAL MORTGAGE-BACKED** <br> **SECURITIES (continued)** | **NON-AGENCY COMMERCIAL MORTGAGE-BACKED** <br> **SECURITIES (continued)** |
| &nbsp;&nbsp; •LBA Trust Series 2024-BOLT <br> Class F 8.59% (1 mo. USD <br> Term SOFR + 4.44%) <br> 6/15/39<br>| 100000 | $98495 |
| •MHC Commercial Mortgage Trust | •MHC Commercial Mortgage Trust | •MHC Commercial Mortgage Trust |
| &nbsp;&nbsp;&nbsp; Series 2021-MHC Class A <br> 5.07% (1 mo. USD Term <br> SOFR + 0.92%) 4/15/38<br>| 37018 | 37018 |
| &nbsp;&nbsp;&nbsp; Series 2021-MHC Class G <br> 7.47% (1 mo. USD Term <br> SOFR + 3.32%) 4/15/38<br>| 400308 | 400808 |
| &nbsp;&nbsp; •MHC Trust Series 2021-MHC2 <br> Class F 6.66% (1 mo. USD <br> Term SOFR + 2.51%) <br> 5/15/38<br>| 80000 | 80075 |
| •MHP Commercial Mortgage Trust | •MHP Commercial Mortgage Trust | •MHP Commercial Mortgage Trust |
| &nbsp;&nbsp;&nbsp; Series 2025-MHIL2 Class A <br> 5.65% (1 mo. USD Term <br> SOFR + 1.50%) 9/15/40<br>| 1134000 | 1134706 |
| &nbsp;&nbsp;&nbsp; Series 2025-MHIL2 Class D <br> 6.80% (1 mo. USD Term <br> SOFR + 2.65%) 9/15/40<br>| 100000 | 100062 |
| &nbsp;&nbsp;&nbsp; Series 2025-MHIL2 Class E <br> 7.65% (1 mo. USD Term <br> SOFR + 3.50%) 9/15/40<br>| 100000 | 100063 |
| &nbsp;&nbsp; •MHP Trust Series 2022-MHIL <br> Class E 6.76% (1 mo. USD <br> Term SOFR + 2.61%) <br> 1/15/39<br>| 200000 | 200000 |
| &nbsp;&nbsp; •Morgan Stanley Bank of <br> America Merrill Lynch Trust <br> Series 2025-C35 Class C <br> 6.35% 8/15/58<br>| 100000 | 102918 |
| &nbsp;&nbsp; •Morgan Stanley Capital I <br> Trust Series 2017-H1 Class C <br> 4.28% 6/15/50<br>| 125000 | 117214 |
| MSWF Commercial Mortgage Trust | MSWF Commercial Mortgage Trust | MSWF Commercial Mortgage Trust |
| &nbsp;&nbsp;&nbsp; •Series 2023-2 Class C 7.25% <br> 12/15/56<br>| 310000 | 324562 |
| &nbsp;&nbsp;&nbsp; Series 2023-2 Class D 4.00% <br> 12/15/56<br>| 136000 | 107612 |
| &nbsp;&nbsp; •Natixis Commercial Mortgage <br> Securities Trust Series <br> 2022-RRI Class C 7.25% (1 <br> mo. USD Term SOFR + <br> 3.10%) 3/15/35<br>| 89844 | 89844 |
| &nbsp;&nbsp; •NCMF Trust Series 2025-MFS <br> Class F 8.72% 6/10/33<br>| 100000 | 101834 |
| Prima Capital CRE Securitization Ltd. | Prima Capital CRE Securitization Ltd. | Prima Capital CRE Securitization Ltd. |
| &nbsp;&nbsp;&nbsp; Series 2019-7A Class D <br> 4.25% 12/25/50<br>| 100000 | 94571 |
| &nbsp;&nbsp;&nbsp; Series 2019-RK1 Class BT <br> 4.45% 4/15/38<br>| 100000 | 94420 |
| •PRM Trust | •PRM Trust | •PRM Trust |
| &nbsp;&nbsp;&nbsp; Series 2025-PRM6 Class E <br> 6.80% 7/5/33<br>| 100000 | 99863 |

---

*LVIP Fidelity Institutional AM*<sup>®</sup> *Total Bond Fund–33*

------

**LVIP Fidelity Institutional AM**<sup>®</sup> **Total Bond Fund**

**Schedule of Investments (continued)**

---

| | | |
|:---|:---|:---|
|  | **Principal**<br> **Amount°**<br>| **Value**<br> **(U.S. $)**<br>|
| **NON-AGENCY COMMERCIAL MORTGAGE-BACKED** <br> **SECURITIES (continued)** | **NON-AGENCY COMMERCIAL MORTGAGE-BACKED** <br> **SECURITIES (continued)** | **NON-AGENCY COMMERCIAL MORTGAGE-BACKED** <br> **SECURITIES (continued)** |
| •PRM Trust (continued) | •PRM Trust (continued) | •PRM Trust (continued) |
| &nbsp;&nbsp;&nbsp; Series 2025-PRM6 Class F <br> 7.29% 7/5/33<br>| 100000 | $99911 |
| &nbsp;&nbsp; •PRM5 Trust Series <br> 2025-PRM5 Class D 5.81% <br> 3/10/33<br>| 150000 | 149374 |
| &nbsp;&nbsp; ROCK Trust Series <br> 2024-CNTR Class E 8.82% <br> 11/13/41<br>| 250000 | 261474 |
| •SCG Commercial Mortgage Trust | •SCG Commercial Mortgage Trust | •SCG Commercial Mortgage Trust |
| &nbsp;&nbsp;&nbsp; Series 2025-FLWR Class A <br> 5.40% (1 mo. USD Term <br> SOFR + 1.25%) 8/15/42<br>| 300000 | 300281 |
| &nbsp;&nbsp;&nbsp; Series 2025-FLWR Class E <br> 6.90% (1 mo. USD Term <br> SOFR + 2.75%) 8/15/42<br>| 160000 | 160150 |
| •SCG Trust | •SCG Trust | •SCG Trust |
| &nbsp;&nbsp;&nbsp; Series 2025-SNIP Class D <br> 6.85% (1 mo. USD Term <br> SOFR + 2.60%) 9/15/30<br>| 127000 | 127278 |
| &nbsp;&nbsp;&nbsp; Series 2025-SNIP Class E <br> 7.65% (1 mo. USD Term <br> SOFR + 3.40%) 9/15/30<br>| 159000 | 159396 |
| &nbsp;&nbsp; •SG Commercial Mortgage <br> Securities Trust Series <br> 2019-PREZ Class D 3.59% <br> 9/15/39<br>| 135000 | 116639 |
| &nbsp;&nbsp; •SHR Trust Series 2024-LXRY <br> Class E 8.60% (1 mo. USD <br> Term SOFR + 4.45%) <br> 10/15/41<br>| 163000 | 164222 |
| &nbsp;&nbsp; •SMRT Commercial Mortgage <br> Trust Series 2022-MINI <br> Class D 6.10% (1 mo. USD <br> Term SOFR + 1.95%) <br> 1/15/39<br>| 250000 | 249066 |
| •SREIT Trust | •SREIT Trust | •SREIT Trust |
| &nbsp;&nbsp;&nbsp; Series 2021-MFP Class A <br> 5.00% (1 mo. USD Term <br> SOFR + 0.85%) 11/15/38<br>| 419421 | 419028 |
| &nbsp;&nbsp;&nbsp; Series 2021-PALM Class G <br> 7.88% (1 mo. USD Term <br> SOFR + 3.73%) 10/15/34<br>| 100000 | 99577 |
| &nbsp;&nbsp; •Starwood Mortgage Trust <br> Series 2021-LIH Class E <br> 7.17% (1 mo. USD Term <br> SOFR + 3.02%) 11/15/36<br>| 100000 | 99875 |
| •SWCH Commercial Mortgage Trust | •SWCH Commercial Mortgage Trust | •SWCH Commercial Mortgage Trust |
| &nbsp;&nbsp;&nbsp; Series 2025-DATA Class D <br> 6.79% (1 mo. USD Term <br> SOFR + 2.64%) 2/15/42<br>| 200000 | 199000 |
| &nbsp;&nbsp;&nbsp; Series 2025-DATA Class F <br> 8.39% (1 mo. USD Term <br> SOFR + 4.24%) 2/15/42<br>| 250000 | 248750 |

---

---

| | | |
|:---|:---|:---|
|  | **Principal**<br> **Amount°**<br>| **Value**<br> **(U.S. $)**<br>|
| **NON-AGENCY COMMERCIAL MORTGAGE-BACKED** <br> **SECURITIES (continued)** | **NON-AGENCY COMMERCIAL MORTGAGE-BACKED** <br> **SECURITIES (continued)** | **NON-AGENCY COMMERCIAL MORTGAGE-BACKED** <br> **SECURITIES (continued)** |
| &nbsp;&nbsp; •TCO Commercial Mortgage <br> Trust Series 2024-DPM <br> Class A 5.39% (1 mo. USD <br> Term SOFR + 1.24%) <br> 12/15/39<br>| 4870000 | $4876086 |
| •VDCM Commercial Mortgage Trust | •VDCM Commercial Mortgage Trust | •VDCM Commercial Mortgage Trust |
| &nbsp;&nbsp;&nbsp; Series 2025-AZ Class C <br> 6.03% 7/13/44<br>| 100000 | 101119 |
| &nbsp;&nbsp;&nbsp; Series 2025-AZ Class D <br> 6.43% 7/13/44<br>| 100000 | 101073 |
| &nbsp;&nbsp;&nbsp; Series 2025-AZ Class E <br> 7.93% 7/13/44<br>| 100000 | 100753 |
| •VTR Commercial Mortgage Trust | •VTR Commercial Mortgage Trust | •VTR Commercial Mortgage Trust |
| &nbsp;&nbsp;&nbsp; Series 2025-STEM Class C <br> 6.06% 10/13/41<br>| 100000 | 100114 |
| &nbsp;&nbsp;&nbsp; Series 2025-STEM Class D <br> 6.71% 10/13/41<br>| 100000 | 100112 |
| Wells Fargo Commercial Mortgage Trust | Wells Fargo Commercial Mortgage Trust | Wells Fargo Commercial Mortgage Trust |
| &nbsp;&nbsp;&nbsp; •Series 2020-C57 Class C <br> 4.16% 8/15/53<br>| 299000 | 271485 |
| &nbsp;&nbsp;&nbsp; •Series 2024-1CHI Class E <br> 7.83% 7/15/35<br>| 250000 | 253852 |
| &nbsp;&nbsp;&nbsp; •Series 2024-5C2 Class C <br> 6.53% 11/15/57<br>| 100000 | 102658 |
| &nbsp;&nbsp;&nbsp; \*•Series 2025-5C4 Class XA <br> 1.35% 5/15/58<br>| 3997872 | 180865 |
| &nbsp;&nbsp;&nbsp; \*•Series 2025-5C4 Class XB <br> 0.74% 5/15/58<br>| 10000000 | 234168 |
| &nbsp;&nbsp;&nbsp; •Series 2025-B33RP Class E <br> 7.65% (1 mo. USD Term <br> SOFR + 3.50%) 8/15/42<br>| 160000 | 159998 |
| &nbsp;&nbsp; •WHARF Commercial <br> Mortgage Trust Series <br> 2025-DC Class E 7.98% <br> 7/15/40<br>| 100000 | 102408 |
| **Total Non-Agency Commercial Mortgage-Backed** <br> **Securities** <br>**(Cost $77,155,101)** | **Total Non-Agency Commercial Mortgage-Backed** <br> **Securities** <br>**(Cost $77,155,101)** | **77558151** |
| **ΔSOVEREIGN BONDS–1.25%** | **ΔSOVEREIGN BONDS–1.25%** | **ΔSOVEREIGN BONDS–1.25%** |
| **Angola—0.02%** | **Angola—0.02%** | **Angola—0.02%** |
| &nbsp;&nbsp; Angola Government <br> International Bonds 9.38% <br> 5/8/48<br>| 50000 | 42874 |
| Angolan Government International Bonds | Angolan Government International Bonds | Angolan Government International Bonds |
| &nbsp;&nbsp; 8.75% 4/14/32 | 200000 | 190745 |
| &nbsp;&nbsp; 9.50% 11/12/25 | 200000 | 200375 |
|  |  | **433994** |
| **Argentina—0.07%** | **Argentina—0.07%** | **Argentina—0.07%** |
| &nbsp;&nbsp; φArgentina Government <br> International Bonds 4.13% <br> 7/9/35<br>| 871767 | 452883 |
| Argentina Republic Government International Bonds | Argentina Republic Government International Bonds | Argentina Republic Government International Bonds |
| φ0.75% 7/9/30 | 851326 | 571666 |
| &nbsp;&nbsp; 1.00% 7/9/29 | 197993 | 143406 |

---

*LVIP Fidelity Institutional AM*<sup>®</sup> *Total Bond Fund–34*

------

**LVIP Fidelity Institutional AM**<sup>®</sup> **Total Bond Fund**

**Schedule of Investments (continued)**

---

| | | | |
|:---|:---|:---|:---|
|  |  | **Principal**<br> **Amount°**<br>| **Value**<br> **(U.S. $)**<br>|
| **ΔSOVEREIGN BONDS (continued)** | **ΔSOVEREIGN BONDS (continued)** | **ΔSOVEREIGN BONDS (continued)** | **ΔSOVEREIGN BONDS (continued)** |
| **Argentina (continued)** | **Argentina (continued)** | **Argentina (continued)** | **Argentina (continued)** |
| Argentina Republic Government International Bonds (continued) | Argentina Republic Government International Bonds (continued) | Argentina Republic Government International Bonds (continued) | Argentina Republic Government International Bonds (continued) |
| φ3.50% 7/9/41 |  | 350000 | $168017 |
| &nbsp;&nbsp; 5.00% 1/9/38 |  | 450000 | 252675 |
|  |  |  | **1588647** |
| **Armenia—0.01%** | **Armenia—0.01%** | **Armenia—0.01%** | **Armenia—0.01%** |
| &nbsp;&nbsp; Republic of Armenia <br> International Bonds 6.75% <br> 3/12/35<br>|  | 250000 | 255251 |
|  |  |  | **255251** |
| **Australia—0.02%** | **Australia—0.02%** | **Australia—0.02%** | **Australia—0.02%** |
| &nbsp;&nbsp; Australia Government Bonds <br> 1.25% 5/21/32<br>| AUD | 600000 | 334819 |
|  |  |  | **334819** |
| **Bahamas—0.01%** | **Bahamas—0.01%** | **Bahamas—0.01%** | **Bahamas—0.01%** |
| &nbsp;&nbsp; Bahamas Government <br> International Bonds 8.25% <br> 6/24/36<br>|  | 200000 | 215912 |
|  |  |  | **215912** |
| **Bahrain—0.00%** | **Bahrain—0.00%** | **Bahrain—0.00%** | **Bahrain—0.00%** |
| &nbsp;&nbsp; Bahrain Government <br> International Bonds 5.63% <br> 5/18/34<br>|  | 50000 | 48509 |
|  |  |  | **48509** |
| **Benin—0.01%** | **Benin—0.01%** | **Benin—0.01%** | **Benin—0.01%** |
| &nbsp;&nbsp; Benin Government <br> International Bonds 7.96% <br> 2/13/38<br>|  | 200000 | 204677 |
|  |  |  | **204677** |
| **Bermuda—0.01%** | **Bermuda—0.01%** | **Bermuda—0.01%** | **Bermuda—0.01%** |
| Bermuda Government International Bonds | Bermuda Government International Bonds | Bermuda Government International Bonds | Bermuda Government International Bonds |
| &nbsp;&nbsp; 3.38% 8/20/50 |  | 50000 | 35185 |
| &nbsp;&nbsp; 3.72% 1/25/27 |  | 200000 | 197532 |
|  |  |  | **232717** |
| **Brazil—0.03%** | **Brazil—0.03%** | **Brazil—0.03%** | **Brazil—0.03%** |
| Brazil Government International Bonds | Brazil Government International Bonds | Brazil Government International Bonds | Brazil Government International Bonds |
| &nbsp;&nbsp; 3.88% 6/12/30 |  | 200000 | 191600 |
| &nbsp;&nbsp; 7.13% 1/20/37 |  | 100000 | 109895 |
| &nbsp;&nbsp; 8.25% 1/20/34 |  | 250000 | 291725 |
|  |  |  | **593220** |
| **Canada—0.07%** | **Canada—0.07%** | **Canada—0.07%** | **Canada—0.07%** |
| Canada Government Bonds | Canada Government Bonds | Canada Government Bonds | Canada Government Bonds |
| &nbsp;&nbsp; 1.50% 6/1/31 | CAD | 25000 | 16725 |
| &nbsp;&nbsp; 1.50% 12/1/31 | CAD | 2370000 | 1571332 |
| &nbsp;&nbsp; 2.00% 6/1/32 | CAD | 40000 | 27145 |
|  |  |  | **1615202** |

---

---

| | | |
|:---|:---|:---|
|  | **Principal**<br> **Amount°**<br>| **Value**<br> **(U.S. $)**<br>|
| **ΔSOVEREIGN BONDS (continued)** | **ΔSOVEREIGN BONDS (continued)** | **ΔSOVEREIGN BONDS (continued)** |
| **Chile—0.03%** | **Chile—0.03%** | **Chile—0.03%** |
| Chile Government International Bonds | Chile Government International Bonds | Chile Government International Bonds |
| &nbsp;&nbsp; 2.45% 1/31/31 | 300000 | $271500 |
| &nbsp;&nbsp; 3.10% 1/22/61 | 150000 | 92678 |
| &nbsp;&nbsp; 4.00% 1/31/52 | 200000 | 157500 |
| &nbsp;&nbsp; 5.33% 1/5/54 | 200000 | 193730 |
|  |  | **715408** |
| **Colombia—0.09%** | **Colombia—0.09%** | **Colombia—0.09%** |
| Colombia Government International Bonds | Colombia Government International Bonds | Colombia Government International Bonds |
| &nbsp;&nbsp; 3.00% 1/30/30 | 350000 | 315490 |
| &nbsp;&nbsp; 5.00% 6/15/45 | 242000 | 181621 |
| &nbsp;&nbsp; 5.20% 5/15/49 | 200000 | 150070 |
| &nbsp;&nbsp; 8.00% 11/14/35 | 1000000 | 1073000 |
| &nbsp;&nbsp; 8.75% 11/14/53 | 200000 | 219330 |
|  |  | **1939511** |
| **Costa Rica—0.01%** | **Costa Rica—0.01%** | **Costa Rica—0.01%** |
| &nbsp;&nbsp; Costa Rica Government <br> International Bonds 7.30% <br> 11/13/54<br>| 200000 | 218868 |
|  |  | **218868** |
| **Dominican Republic—0.04%** | **Dominican Republic—0.04%** | **Dominican Republic—0.04%** |
| Dominican Republic International Bonds | Dominican Republic International Bonds | Dominican Republic International Bonds |
| &nbsp;&nbsp; 5.30% 1/21/41 | 100000 | 90300 |
| &nbsp;&nbsp; 5.95% 1/25/27 | 250000 | 254063 |
| &nbsp;&nbsp; 6.60% 6/1/36 | 150000 | 156975 |
| &nbsp;&nbsp; 7.05% 2/3/31 | 300000 | 323265 |
| &nbsp;&nbsp; 7.15% 2/24/55 | 150000 | 159330 |
|  |  | **983933** |
| **Ecuador—0.02%** | **Ecuador—0.02%** | **Ecuador—0.02%** |
| Ecuador Government International Bonds | Ecuador Government International Bonds | Ecuador Government International Bonds |
| &nbsp;&nbsp; 6.90% 7/31/30 | 250000 | 225625 |
| &nbsp;&nbsp; 6.90% 7/31/35 | 200000 | 150780 |
|  |  | **376405** |
| **Egypt—0.03%** | **Egypt—0.03%** | **Egypt—0.03%** |
| Egypt Government International Bonds | Egypt Government International Bonds | Egypt Government International Bonds |
| &nbsp;&nbsp; 7.50% 1/31/27 | 200000 | 202398 |
| &nbsp;&nbsp; 7.50% 2/16/61 | 150000 | 117585 |
| &nbsp;&nbsp; 7.63% 5/29/32 | 100000 | 98203 |
| &nbsp;&nbsp; 8.70% 3/1/49 | 300000 | 266295 |
|  |  | **684481** |
| **El Salvador—0.02%** | **El Salvador—0.02%** | **El Salvador—0.02%** |
| El Salvador Government International Bonds | El Salvador Government International Bonds | El Salvador Government International Bonds |
| &nbsp;&nbsp; 9.25% 4/17/30 | 200000 | 218000 |
| &nbsp;&nbsp; 9.65% 11/21/54 | 200000 | 216000 |
|  |  | **434000** |

---

*LVIP Fidelity Institutional AM*<sup>®</sup> *Total Bond Fund–35*

------

**LVIP Fidelity Institutional AM**<sup>®</sup> **Total Bond Fund**

**Schedule of Investments (continued)**

---

| | | | |
|:---|:---|:---|:---|
|  |  | **Principal**<br> **Amount°**<br>| **Value**<br> **(U.S. $)**<br>|
| **ΔSOVEREIGN BONDS (continued)** | **ΔSOVEREIGN BONDS (continued)** | **ΔSOVEREIGN BONDS (continued)** | **ΔSOVEREIGN BONDS (continued)** |
| **Gabon—0.01%** | **Gabon—0.01%** | **Gabon—0.01%** | **Gabon—0.01%** |
| &nbsp;&nbsp; Gabon Government <br> International Bonds 6.63% <br> 2/6/31<br>|  | 150000 | $120630 |
|  |  |  | **120630** |
| **Georgia—0.01%** | **Georgia—0.01%** | **Georgia—0.01%** | **Georgia—0.01%** |
| &nbsp;&nbsp; Georgia Government <br> International Bonds 2.75% <br> 4/22/26<br>|  | 200000 | 195717 |
|  |  |  | **195717** |
| **Germany—0.02%** | **Germany—0.02%** | **Germany—0.02%** | **Germany—0.02%** |
| &nbsp;&nbsp; Bundesrepublik Deutschland <br> Bundesanleihe 2.50% 7/4/44<br>| EUR | 390000 | 416331 |
|  |  |  | **416331** |
| **Ghana—0.01%** | **Ghana—0.01%** | **Ghana—0.01%** | **Ghana—0.01%** |
| φGhana Government International Bonds | φGhana Government International Bonds | φGhana Government International Bonds | φGhana Government International Bonds |
| &nbsp;&nbsp; 5.00% 7/3/29 |  | 61952 | 60237 |
| &nbsp;&nbsp; 5.00% 7/3/35 |  | 89088 | 74975 |
|  |  |  | **135212** |
| **Guatemala—0.02%** | **Guatemala—0.02%** | **Guatemala—0.02%** | **Guatemala—0.02%** |
| Guatemala Government Bonds | Guatemala Government Bonds | Guatemala Government Bonds | Guatemala Government Bonds |
| &nbsp;&nbsp; 5.38% 4/24/32 |  | 100000 | 100500 |
| &nbsp;&nbsp; 6.13% 6/1/50 |  | 50000 | 48237 |
| &nbsp;&nbsp; 6.25% 8/15/36 |  | 200000 | 206436 |
|  |  |  | **355173** |
| **Hungary—0.03%** | **Hungary—0.03%** | **Hungary—0.03%** | **Hungary—0.03%** |
| Hungary Government International Bonds | Hungary Government International Bonds | Hungary Government International Bonds | Hungary Government International Bonds |
| &nbsp;&nbsp; 2.13% 9/22/31 |  | 200000 | 171832 |
| &nbsp;&nbsp; 5.50% 6/16/34 |  | 100000 | 101625 |
| &nbsp;&nbsp; 6.75% 9/25/52 |  | 100000 | 108073 |
| &nbsp;&nbsp; Magyar Export-Import Bank <br> Zrt 6.13% 12/4/27<br>|  | 200000 | 206805 |
|  |  |  | **588335** |
| **Indonesia—0.04%** | **Indonesia—0.04%** | **Indonesia—0.04%** | **Indonesia—0.04%** |
| Indonesia Government International Bonds | Indonesia Government International Bonds | Indonesia Government International Bonds | Indonesia Government International Bonds |
| &nbsp;&nbsp; 4.10% 4/24/28 |  | 100000 | 100001 |
| &nbsp;&nbsp; 4.35% 1/11/48 |  | 100000 | 86395 |
| &nbsp;&nbsp; 5.95% 1/8/46 |  | 250000 | 265929 |
| &nbsp;&nbsp; 7.75% 1/17/38 |  | 200000 | 246724 |
| &nbsp;&nbsp; 8.50% 10/12/35 |  | 200000 | 255417 |
|  |  |  | **954466** |
| **Israel—0.01%** | **Israel—0.01%** | **Israel—0.01%** | **Israel—0.01%** |
| &nbsp;&nbsp; Israel Government <br> International Bonds 5.75% <br> 3/12/54<br>|  | 200000 | 189189 |
| State of Israel 3.38% 1/15/50 |  | 150000 | 99507 |
|  |  |  | **288696** |

---

---

| | | |
|:---|:---|:---|
|  | **Principal**<br> **Amount°**<br>| **Value**<br> **(U.S. $)**<br>|
| **ΔSOVEREIGN BONDS (continued)** | **ΔSOVEREIGN BONDS (continued)** | **ΔSOVEREIGN BONDS (continued)** |
| **Ivory Coast—0.01%** | **Ivory Coast—0.01%** | **Ivory Coast—0.01%** |
| &nbsp;&nbsp; Ivory Coast Government <br> International Bonds 6.13% <br> 6/15/33<br>| 300000 | $287642 |
|  |  | **287642** |
| **Jamaica—0.00%** | **Jamaica—0.00%** | **Jamaica—0.00%** |
| &nbsp;&nbsp; Jamaica Government <br> International Bonds 7.88% <br> 7/28/45<br>| 50000 | 60152 |
|  |  | **60152** |
| **Japan—0.01%** | **Japan—0.01%** | **Japan—0.01%** |
| &nbsp;&nbsp; Japan Government Ten Year <br> Bonds 0.90% 9/20/34<br>| 23600000 | 150428 |
|  |  | **150428** |
| **Jordan—0.00%** | **Jordan—0.00%** | **Jordan—0.00%** |
| &nbsp;&nbsp; Jordan Government <br> International Bonds 7.38% <br> 10/10/47<br>| 50000 | 47845 |
|  |  | **47845** |
| **Kenya—0.01%** | **Kenya—0.01%** | **Kenya—0.01%** |
| &nbsp;&nbsp; Republic of Kenya <br> Government International <br> Bonds 9.75% 2/16/31<br>| 200000 | 213438 |
|  |  | **213438** |
| **Lebanon—0.00%** | **Lebanon—0.00%** | **Lebanon—0.00%** |
| &nbsp;&nbsp; ‡Lebanon Government <br> International Bonds 6.38% <br> 3/9/49<br>| 300000 | 67095 |
|  |  | **67095** |
| **Luxembourg—0.01%** | **Luxembourg—0.01%** | **Luxembourg—0.01%** |
| &nbsp;&nbsp; Eagle Funding Luxco SARL <br> 5.50% 8/17/30<br>| 210000 | 213058 |
|  |  | **213058** |
| **Mexico—0.06%** | **Mexico—0.06%** | **Mexico—0.06%** |
| Mexico Government International Bonds | Mexico Government International Bonds | Mexico Government International Bonds |
| &nbsp;&nbsp; 2.66% 5/24/31 | 200000 | 177680 |
| &nbsp;&nbsp; 3.50% 2/12/34 | 200000 | 173700 |
| &nbsp;&nbsp; 3.77% 5/24/61 | 200000 | 125790 |
| &nbsp;&nbsp; 6.35% 2/9/35 | 200000 | 211204 |
| &nbsp;&nbsp; 6.88% 5/13/37 | 250000 | 269625 |
| &nbsp;&nbsp; 7.38% 5/13/55 | 250000 | 274377 |
|  |  | **1232376** |
| **Mongolia—0.01%** | **Mongolia—0.01%** | **Mongolia—0.01%** |
| &nbsp;&nbsp; Mongolia Government <br> International Bonds 7.88% <br> 6/5/29<br>| 200000 | 211569 |
|  |  | **211569** |

---

*LVIP Fidelity Institutional AM*<sup>®</sup> *Total Bond Fund–36*

------

**LVIP Fidelity Institutional AM**<sup>®</sup> **Total Bond Fund**

**Schedule of Investments (continued)**

---

| | | |
|:---|:---|:---|
|  | **Principal**<br> **Amount°**<br>| **Value**<br> **(U.S. $)**<br>|
| **ΔSOVEREIGN BONDS (continued)** | **ΔSOVEREIGN BONDS (continued)** | **ΔSOVEREIGN BONDS (continued)** |
| **Montenegro—0.01%** | **Montenegro—0.01%** | **Montenegro—0.01%** |
| &nbsp;&nbsp; Montenegro Government <br> International Bonds 7.25% <br> 3/12/31<br>| 200000 | $213284 |
|  |  | **213284** |
| **Morocco—0.01%** | **Morocco—0.01%** | **Morocco—0.01%** |
| &nbsp;&nbsp; Morocco Government <br> International Bonds 6.50% <br> 9/8/33<br>| 200000 | 219712 |
|  |  | **219712** |
| **Nigeria—0.02%** | **Nigeria—0.02%** | **Nigeria—0.02%** |
| Nigeria Government International Bonds | Nigeria Government International Bonds | Nigeria Government International Bonds |
| &nbsp;&nbsp; 6.13% 9/28/28 | 400000 | 392017 |
| &nbsp;&nbsp; 7.88% 2/16/32 | 150000 | 148651 |
|  |  | **540668** |
| **Oman—0.02%** | **Oman—0.02%** | **Oman—0.02%** |
| Oman Government International Bonds | Oman Government International Bonds | Oman Government International Bonds |
| &nbsp;&nbsp; 6.25% 1/25/31 | 200000 | 215838 |
| &nbsp;&nbsp; 6.75% 1/17/48 | 125000 | 137204 |
|  |  | **353042** |
| **Pakistan—0.02%** | **Pakistan—0.02%** | **Pakistan—0.02%** |
| Pakistan Government International Bonds | Pakistan Government International Bonds | Pakistan Government International Bonds |
| &nbsp;&nbsp; 6.00% 4/8/26 | 200000 | 199163 |
| &nbsp;&nbsp; 7.38% 4/8/31 | 200000 | 195688 |
|  |  | **394851** |
| **Panama—0.02%** | **Panama—0.02%** | **Panama—0.02%** |
| Panama Government International Bonds | Panama Government International Bonds | Panama Government International Bonds |
| &nbsp;&nbsp; 3.87% 7/23/60 | 200000 | 128560 |
| &nbsp;&nbsp; 7.88% 3/1/57 | 200000 | 224950 |
|  |  | **353510** |
| **Paraguay—0.03%** | **Paraguay—0.03%** | **Paraguay—0.03%** |
| Paraguay Government International Bonds | Paraguay Government International Bonds | Paraguay Government International Bonds |
| &nbsp;&nbsp; 2.74% 1/29/33 | 200000 | 176558 |
| &nbsp;&nbsp; 6.00% 2/9/36 | 200000 | 211880 |
| &nbsp;&nbsp; 6.65% 3/4/55 | 200000 | 212590 |
|  |  | **601028** |
| **Peru—0.01%** | **Peru—0.01%** | **Peru—0.01%** |
| Peru Government International Bonds | Peru Government International Bonds | Peru Government International Bonds |
| &nbsp;&nbsp; 2.78% 1/23/31 | 150000 | 138120 |
| &nbsp;&nbsp; 3.30% 3/11/41 | 100000 | 77650 |
|  |  | **215770** |
| **Philippines—0.02%** | **Philippines—0.02%** | **Philippines—0.02%** |
| Philippines Government International Bonds | Philippines Government International Bonds | Philippines Government International Bonds |
| &nbsp;&nbsp; 5.50% 1/17/48 | 200000 | 204110 |
| &nbsp;&nbsp; 5.95% 10/13/47 | 200000 | 214843 |
|  |  | **418953** |

---

---

| | | | |
|:---|:---|:---|:---|
|  |  | **Principal**<br> **Amount°**<br>| **Value**<br> **(U.S. $)**<br>|
| **ΔSOVEREIGN BONDS (continued)** | **ΔSOVEREIGN BONDS (continued)** | **ΔSOVEREIGN BONDS (continued)** | **ΔSOVEREIGN BONDS (continued)** |
| **Poland—0.03%** | **Poland—0.03%** | **Poland—0.03%** | **Poland—0.03%** |
| Bank Gospodarstwa Krajowego | Bank Gospodarstwa Krajowego | Bank Gospodarstwa Krajowego | Bank Gospodarstwa Krajowego |
| &nbsp;&nbsp; 5.38% 5/22/33 |  | 200000 | $206411 |
| &nbsp;&nbsp; 6.25% 7/9/54 |  | 200000 | 208014 |
| Republic of Poland Government International Bonds | Republic of Poland Government International Bonds | Republic of Poland Government International Bonds | Republic of Poland Government International Bonds |
| &nbsp;&nbsp; 5.50% 4/4/53 |  | 40000 | 38734 |
| &nbsp;&nbsp; 5.75% 11/16/32 |  | 100000 | 107141 |
|  |  |  | **560300** |
| **Qatar—0.03%** | **Qatar—0.03%** | **Qatar—0.03%** | **Qatar—0.03%** |
| Qatar Government International Bonds | Qatar Government International Bonds | Qatar Government International Bonds | Qatar Government International Bonds |
| &nbsp;&nbsp; 4.40% 4/16/50 |  | 300000 | 268128 |
| &nbsp;&nbsp; 4.63% 6/2/46 |  | 200000 | 186398 |
| &nbsp;&nbsp; 4.82% 3/14/49 |  | 250000 | 238110 |
|  |  |  | **692636** |
| **Romania—0.03%** | **Romania—0.03%** | **Romania—0.03%** | **Romania—0.03%** |
| Romania Government International Bonds | Romania Government International Bonds | Romania Government International Bonds | Romania Government International Bonds |
| &nbsp;&nbsp; 2.12% 7/16/31 | EUR | 25000 | 25077 |
| &nbsp;&nbsp; 3.63% 3/27/32 |  | 100000 | 89075 |
| &nbsp;&nbsp; 4.00% 2/14/51 |  | 85000 | 56660 |
| &nbsp;&nbsp; 5.75% 9/16/30 |  | 80000 | 81561 |
| &nbsp;&nbsp; 5.88% 7/11/32 | EUR | 150000 | 180334 |
| &nbsp;&nbsp; 6.38% 9/18/33 | EUR | 100000 | 123269 |
| &nbsp;&nbsp; 7.50% 2/10/37 |  | 150000 | 160986 |
|  |  |  | **716962** |
| **Rwanda—0.00%** | **Rwanda—0.00%** | **Rwanda—0.00%** | **Rwanda—0.00%** |
| &nbsp;&nbsp; Rwanda International <br> Government Bonds 5.50% <br> 8/9/31<br>|  | 100000 | 89680 |
|  |  |  | **89680** |
| **Saudi Arabia—0.02%** | **Saudi Arabia—0.02%** | **Saudi Arabia—0.02%** | **Saudi Arabia—0.02%** |
| Saudi Government International Bonds | Saudi Government International Bonds | Saudi Government International Bonds | Saudi Government International Bonds |
| &nbsp;&nbsp; 2.25% 2/2/33 |  | 200000 | 171266 |
| &nbsp;&nbsp; 3.45% 2/2/61 |  | 250000 | 163520 |
| &nbsp;&nbsp; 3.75% 1/21/55 |  | 100000 | 72102 |
| &nbsp;&nbsp; 4.50% 10/26/46 |  | 100000 | 86751 |
|  |  |  | **493639** |
| **Senegal—0.00%** | **Senegal—0.00%** | **Senegal—0.00%** | **Senegal—0.00%** |
| &nbsp;&nbsp; Senegal Government <br> International Bonds 6.25% <br> 5/23/33<br>|  | 110000 | 79405 |
|  |  |  | **79405** |
| **Serbia—0.01%** | **Serbia—0.01%** | **Serbia—0.01%** | **Serbia—0.01%** |
| &nbsp;&nbsp; Serbia International Bonds <br> 6.00% 6/12/34<br>|  | 150000 | 156315 |
|  |  |  | **156315** |
| **South Africa—0.03%** | **South Africa—0.03%** | **South Africa—0.03%** | **South Africa—0.03%** |
| Republic of South Africa Government International Bonds | Republic of South Africa Government International Bonds | Republic of South Africa Government International Bonds | Republic of South Africa Government International Bonds |
| &nbsp;&nbsp; 4.85% 9/30/29 |  | 150000 | 148327 |
| &nbsp;&nbsp; 5.00% 10/12/46 |  | 150000 | 112256 |

---

*LVIP Fidelity Institutional AM*<sup>®</sup> *Total Bond Fund–37*

------

**LVIP Fidelity Institutional AM**<sup>®</sup> **Total Bond Fund**

**Schedule of Investments (continued)**

---

| | | |
|:---|:---|:---|
|  | **Principal**<br> **Amount°**<br>| **Value**<br> **(U.S. $)**<br>|
| **ΔSOVEREIGN BONDS (continued)** | **ΔSOVEREIGN BONDS (continued)** | **ΔSOVEREIGN BONDS (continued)** |
| **South Africa (continued)** | **South Africa (continued)** | **South Africa (continued)** |
| &nbsp;&nbsp; Republic of South Africa Government International <br> Bonds (continued) | &nbsp;&nbsp; Republic of South Africa Government International <br> Bonds (continued) | &nbsp;&nbsp; Republic of South Africa Government International <br> Bonds (continued) |
| &nbsp;&nbsp; 5.75% 9/30/49 | 200000 | $159938 |
| &nbsp;&nbsp; 7.10% 11/19/36 | 300000 | 312754 |
|  |  | **733275** |
| **Sri Lanka—0.02%** | **Sri Lanka—0.02%** | **Sri Lanka—0.02%** |
| Sri Lanka Government International Bonds | Sri Lanka Government International Bonds | Sri Lanka Government International Bonds |
| φ3.10% 1/15/30 | 56145 | 52496 |
| φ3.35% 3/15/33 | 110128 | 94071 |
| φ3.60% 5/15/36 | 51609 | 45545 |
| φ3.60% 2/15/38 | 103261 | 91778 |
| &nbsp;&nbsp; 4.00% 4/15/28 | 52468 | 50133 |
|  |  | **334023** |
| **Turkey—0.08%** | **Turkey—0.08%** | **Turkey—0.08%** |
| Turkiye Government International Bonds | Turkiye Government International Bonds | Turkiye Government International Bonds |
| &nbsp;&nbsp; 4.88% 4/16/43 | 200000 | 148268 |
| &nbsp;&nbsp; 5.75% 5/11/47 | 100000 | 79315 |
| &nbsp;&nbsp; 5.88% 6/26/31 | 100000 | 98460 |
| &nbsp;&nbsp; 7.63% 5/15/34 | 250000 | 265095 |
| &nbsp;&nbsp; 9.38% 3/14/29 | 300000 | 334734 |
| &nbsp;&nbsp; 9.38% 1/19/33 | 400000 | 463296 |
| &nbsp;&nbsp; 9.88% 1/15/28 | 200000 | 219492 |
| &nbsp;&nbsp; Turkiye Ihracat Kredi Bankasi <br> AS 6.88% 7/3/28<br>| 200000 | 204171 |
|  |  | **1812831** |
| **Ukraine—0.02%** | **Ukraine—0.02%** | **Ukraine—0.02%** |
| φUkraine Government International Bonds | φUkraine Government International Bonds | φUkraine Government International Bonds |
| &nbsp;&nbsp; 0.00% 2/1/30 | 21848 | 11471 |
| &nbsp;&nbsp; 0.00% 2/1/34 | 81644 | 33856 |
| &nbsp;&nbsp; 0.00% 2/1/35 | 68995 | 33458 |
| &nbsp;&nbsp; 0.00% 2/1/36 | 57496 | 27893 |
| &nbsp;&nbsp; 4.50% 2/1/29 | 150000 | 103117 |
| &nbsp;&nbsp; 4.50% 2/1/34 | 179987 | 101326 |
| &nbsp;&nbsp; 4.50% 2/1/35 | 139990 | 77293 |
| &nbsp;&nbsp; 4.50% 2/1/36 | 79994 | 43539 |
| &nbsp;&nbsp; 7.75% 8/1/41 | 50000 | 39921 |
|  |  | **471874** |
| **United Arab Emirates—0.04%** | **United Arab Emirates—0.04%** | **United Arab Emirates—0.04%** |
| Abu Dhabi Government International Bonds | Abu Dhabi Government International Bonds | Abu Dhabi Government International Bonds |
| &nbsp;&nbsp; 3.13% 9/30/49 | 500000 | 363051 |
| &nbsp;&nbsp; 5.50% 4/30/54 | 200000 | 209274 |
| &nbsp;&nbsp; Emirate of Dubai Government <br> International Bonds 5.25% <br> 1/30/43<br>| 200000 | 198363 |
|  |  | **770688** |
| **Uruguay—0.01%** | **Uruguay—0.01%** | **Uruguay—0.01%** |
| Uruguay Government International Bonds | Uruguay Government International Bonds | Uruguay Government International Bonds |
| &nbsp;&nbsp; 5.10% 6/18/50 | 150000 | 141825 |
| &nbsp;&nbsp; 5.75% 10/28/34 | 50000 | 53600 |
|  |  | **195425** |

---

---

| | | | |
|:---|:---|:---|:---|
|  |  | **Principal**<br> **Amount°**<br>| **Value**<br> **(U.S. $)**<br>|
| **ΔSOVEREIGN BONDS (continued)** | **ΔSOVEREIGN BONDS (continued)** | **ΔSOVEREIGN BONDS (continued)** | **ΔSOVEREIGN BONDS (continued)** |
| **Uzbekistan—0.00%** | **Uzbekistan—0.00%** | **Uzbekistan—0.00%** | **Uzbekistan—0.00%** |
| &nbsp;&nbsp; Republic of Uzbekistan <br> International Bonds 3.70% <br> 11/25/30<br>|  | 100000 | $92336 |
|  |  |  | **92336** |
| **Venezuela—0.01%** | **Venezuela—0.01%** | **Venezuela—0.01%** | **Venezuela—0.01%** |
| &nbsp;&nbsp; ‡Venezuela Government <br> International Bonds 9.25% <br> 9/15/27<br>|  | 550000 | 132055 |
|  |  |  | **132055** |
| **Zambia—0.01%** | **Zambia—0.01%** | **Zambia—0.01%** | **Zambia—0.01%** |
| &nbsp;&nbsp; Zambia Government <br> International Bonds 0.50% <br> 12/31/53<br>|  | 200000 | 134874 |
|  |  |  | **134874** |
| **Total Sovereign Bonds** <br>**(Cost $26,398,080)** | **Total Sovereign Bonds** <br>**(Cost $26,398,080)** | **Total Sovereign Bonds** <br>**(Cost $26,398,080)** | **27190853** |
| **SUPRANATIONAL BANKS–0.11%** | **SUPRANATIONAL BANKS–0.11%** | **SUPRANATIONAL BANKS–0.11%** | **SUPRANATIONAL BANKS–0.11%** |
| European Investment Bank | European Investment Bank | European Investment Bank | European Investment Bank |
| ^0.00% 3/28/28 | EUR | 1205000 | 1340732 |
| &nbsp;&nbsp; 2.38% 5/15/30 | EUR | 210000 | 245685 |
| &nbsp;&nbsp; 2.88% 6/18/35 | EUR | 15000 | 17470 |
| European Union | European Union | European Union | European Union |
| &nbsp;&nbsp; 0.75% 4/4/31 | EUR | 72000 | 76575 |
| &nbsp;&nbsp; 2.50% 12/4/31 | EUR | 227000 | 263384 |
| &nbsp;&nbsp; 2.88% 4/4/28 | EUR | 349000 | 416402 |
| **Total Supranational Banks** <br>**(Cost $2,320,031)** | **Total Supranational Banks** <br>**(Cost $2,320,031)** | **Total Supranational Banks** <br>**(Cost $2,320,031)** | **2360248** |
| **U.S. TREASURY OBLIGATIONS–39.20%** | **U.S. TREASURY OBLIGATIONS–39.20%** | **U.S. TREASURY OBLIGATIONS–39.20%** | **U.S. TREASURY OBLIGATIONS–39.20%** |
| U.S. Treasury Bonds | U.S. Treasury Bonds | U.S. Treasury Bonds | U.S. Treasury Bonds |
| &nbsp;&nbsp; 2.25% 8/15/46 |  | 37530000 | 25039547 |
| &nbsp;&nbsp; 3.88% 2/15/43 |  | 28715000 | 26062228 |
| &nbsp;&nbsp; 4.50% 11/15/54 |  | 13320000 | 12825183 |
| &nbsp;&nbsp; 4.63% 11/15/44 |  | 32220000 | 31920454 |
| &nbsp;&nbsp; 4.63% 2/15/55 |  | 102180000 | 100439747 |
| &nbsp;&nbsp; 4.75% 2/15/45 |  | 81910000 | 82421937 |
| &nbsp;&nbsp; 4.75% 5/15/55 |  | 7441000 | 7464253 |
| &nbsp;&nbsp; 4.75% 8/15/55 |  | 8400000 | 8428875 |
| &nbsp;&nbsp; 5.00% 5/15/45 |  | 610000 | 633447 |
| &nbsp;&nbsp; U.S. Treasury Inflation <br> Indexed Bonds 2.38% <br> 2/15/55<br>|  | 1197741 | 1169201 |
| U.S. Treasury Notes | U.S. Treasury Notes | U.S. Treasury Notes | U.S. Treasury Notes |
| &nbsp;&nbsp; 3.63% 8/31/30 |  | 20700000 | 20593266 |
| &nbsp;&nbsp; 3.75% 5/31/30 |  | 41000 | 41029 |
| &nbsp;&nbsp; 4.00% 2/28/30 |  | 38410000 | 38855616 |
| &nbsp;&nbsp; 4.00% 3/31/30 |  | 120000000 | 121373437 |
| &nbsp;&nbsp; 4.00% 1/31/31 |  | 1015000 | 1025586 |
| &nbsp;&nbsp; 4.00% 4/30/32 |  | 158075000 | 158995045 |
| &nbsp;&nbsp; 4.00% 6/30/32 |  | 16500000 | 16585078 |
| &nbsp;&nbsp; 4.00% 7/31/32 |  | 160000 | 160750 |

---

*LVIP Fidelity Institutional AM*<sup>®</sup> *Total Bond Fund–38*

------

**LVIP Fidelity Institutional AM**<sup>®</sup> **Total Bond Fund**

**Schedule of Investments (continued)**

---

| | | |
|:---|:---|:---|
|  | **Principal**<br> **Amount°**<br>| **Value**<br> **(U.S. $)**<br>|
| **U.S. TREASURY OBLIGATIONS (continued)** | **U.S. TREASURY OBLIGATIONS (continued)** | **U.S. TREASURY OBLIGATIONS (continued)** |
| U.S. Treasury Notes (continued) | U.S. Treasury Notes (continued) | U.S. Treasury Notes (continued) |
| &nbsp;&nbsp; 4.00% 2/15/34 | 1674000 | $1669619 |
| &nbsp;&nbsp; 4.13% 5/31/32 | 2534000 | 2566071 |
| &nbsp;&nbsp; 4.25% 5/15/35 | 41735000 | 42119744 |
| &nbsp;&nbsp; 4.25% 8/15/35 | 30500000 | 30747812 |
| &nbsp;&nbsp; 4.50% 12/31/31 | 20340000 | 21045544 |
| &nbsp;&nbsp; 4.63% 2/15/35 | 99870000 | 103786777 |
| **Total U.S. Treasury Obligations** <br>**(Cost $861,205,752)** | **Total U.S. Treasury Obligations** <br>**(Cost $861,205,752)** | **855970246** |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
|  | **Number of** <br>**Shares**<br>|  |
| **COMMON STOCK–0.05%** | **COMMON STOCK–0.05%** | **COMMON STOCK–0.05%** |
| &nbsp;&nbsp; †Grupo Aeromexico SAB de <br> CV<br>| 74288 | 1191585 |
| **Total Common Stock** <br>**(Cost $667,823)** | **Total Common Stock** <br>**(Cost $667,823)** | **1191585** |
| **PREFERRED STOCKS–0.03%** | **PREFERRED STOCKS–0.03%** | **PREFERRED STOCKS–0.03%** |
| †=Acrisure Holdings, Inc. 0.00% | 8824 | 228012 |
| †Albemarle Corp. 7.25% 3/1/27 | 1846 | 69927 |
| &nbsp;&nbsp; †Apollo Global Management, <br> Inc. 6.75% 7/31/26<br>| 1000 | 70280 |
| &nbsp;&nbsp; Strategy, Inc. 10.00% <br> 12/31/49<br>| 3100 | 244001 |
| &nbsp;&nbsp; Strategy, Inc. 10.00% <br> 10/29/25<br>| 700 | 67942 |
| **Total Preferred Stocks** <br>**(Cost $684,154)** | **Total Preferred Stocks** <br>**(Cost $684,154)** | **680162** |
| **MONEY MARKET FUND–2.49%** | **MONEY MARKET FUND–2.49%** | **MONEY MARKET FUND–2.49%** |
| &nbsp;&nbsp; State Street Institutional <br> U.S. Government Money <br> Market Fund - Premier Class <br> (seven-day effective yield <br> 4.09%)<br>| 54230026 | 54230026 |
| **Total Money Market Fund** <br>**(Cost $54,230,026)** | **Total Money Market Fund** <br>**(Cost $54,230,026)** | **54230026** |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
|  | **Notional** <br>**Amount**<br>|  |
| **OPTIONS PURCHASED–0.02%** | **OPTIONS PURCHASED–0.02%** | **OPTIONS PURCHASED–0.02%** |
| **Over-The-Counter–0.02%** | **Over-The-Counter–0.02%** | **Over-The-Counter–0.02%** |
| **Put Swaptions–0.01%** | **Put Swaptions–0.01%** | **Put Swaptions–0.01%** |
| &nbsp;&nbsp; 10 Year Interest Rate Swap <br> Strike price $3.84, <br> expiration date 7/22/26, <br> notional amount $570,000 <br> JPM<br>| 570000 | 10932 |

---

---

| | | |
|:---|:---|:---|
|  | **Notional**<br> **Amount**<br>| **Value**<br> **(U.S. $)**<br>|
| **OPTIONS PURCHASED (continued)** | **OPTIONS PURCHASED (continued)** | **OPTIONS PURCHASED (continued)** |
| **Over-The-Counter (continued)** | **Over-The-Counter (continued)** | **Over-The-Counter (continued)** |
| **Put Swaptions (continued)** | **Put Swaptions (continued)** | **Put Swaptions (continued)** |
| &nbsp;&nbsp; 5 Year Interest Rate Swap <br> Strike price $4.15, <br> expiration date 7/30/30, <br> notional amount $3,000,000 <br> CBK<br>| 3000000 | $98557 |
| &nbsp;&nbsp; 10 Year Interest Rate Swap <br> Strike price $3.80, <br> expiration date 8/25/26, <br> notional amount $3,160,000 <br> GS<br>| 3160000 | 94039 |
| &nbsp;&nbsp; 1 day USD SOFR Strike price <br> $3.85, expiration date <br> 9/16/30, notional amount <br> $1,790,000 GS<br>| 1790000 | 55631 |
|  |  | **259159** |
| **Call Swaptions–0.01%** | **Call Swaptions–0.01%** | **Call Swaptions–0.01%** |
| &nbsp;&nbsp; 10 Year Interest Rate Swap <br> Strike price $3.84, <br> expiration date 7/22/26, <br> notional amount $570,000 <br> JPM<br>| 570000 | 10932 |
| &nbsp;&nbsp; 5 Year Interest Rate Swap <br> Strike price $4.15, <br> expiration date 7/30/30, <br> notional amount $3,000,000 <br> CBK<br>| 3000000 | 76895 |
| &nbsp;&nbsp; 10 Year Interest Rate Swap <br> Strike price $3.80, <br> expiration date 8/25/26, <br> notional amount $3,160,000 <br> GS<br>| 3160000 | 69480 |
| &nbsp;&nbsp; 1 day USD SOFR Strike price <br> $3.85, expiration date <br> 9/16/30, notional amount <br> $1,790,000 GS<br>| 1790000 | 47206 |
|  |  | **204513** |
| **Total Options Purchased** <br>**(Cost $557,087)** | **Total Options Purchased** <br>**(Cost $557,087)** | **463672** |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **TOTAL INVESTMENTS–104.97% (Cost $2,292,153,913)** | **2291864731** |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **LIABILITIES NET OF RECEIVABLES AND OTHER ASSETS–(4.97%)** | **(108486857)**<br>|
| **NET ASSETS APPLICABLE TO 239,117,406 SHARES OUTSTANDING–100.00%** | **$2183377874** |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

*LVIP Fidelity Institutional AM*<sup>®</sup> *Total Bond Fund–39*

------

**LVIP Fidelity Institutional AM**<sup>®</sup> **Total Bond Fund**

**Schedule of Investments (continued)**

------

---

| |
|:---|
| °Principal amount shown is stated in U.S. dollars unless noted that the security is denominated in another currency. |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; •Variable rate investment. Rates reset periodically. Rate shown reflects the rate in effect at September 30, 2025. For securities based on a <br> published reference rate and spread, the reference rate and spread are indicated in their description above and may be subject to caps <br> and/or floors or include a multiplier. Certain variable rate securities are not based on a published reference rate and spread but are <br> determined by the issuer or agent and are based on current market conditions such as changes in current interest rate and prepayments <br> on the underlying pool of assets. These securities do not indicate a reference rate and spread in their description above. |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ♦Pass Through Agreement. Security represents the contractual right to receive a proportionate amount of underlying payments due to the <br> counterparty pursuant to various agreements related to the rescheduling of obligations and the exchange of certain notes. |
| @PIK. 100% of the income received was in the form of additional par. |
| ^Zero coupon security. |
| ‡Non-income producing security. Security is currently in default. No interest income is being accrued during the bankruptcy proceedings. |
| μFixed to variable rate investment. The rate shown reflects the fixed rate in effect at September 30, 2025. Rate will reset at a future date. |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ✠All or a portion of this amount represents unfunded loan commitments. The interest rate for the unfunded portion will be determined at the <br> time of funding. |
| ∞Delayed settlement. Interest rate to be determined upon settlement date. |
| φStep coupon bond. Coupon increases/decreases periodically based on predetermined schedule. Stated rate in effect at September 30, 2025. |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; \*Interest only security. An interest only security is the interest only portion of a fixed income security which is sold separately from the <br> principal portion of the security. |
| ΔSecurities have been classified by country of origin. |
| †Non-income producing. |
| =The value of this security was determined using significant unobservable inputs. |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

The following foreign currency exchange contracts, futures contracts and swap contracts were outstanding at September 30, 2025:<br>

**Foreign Currency Exchange Contracts** 

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **Counterparty** | **Contracts to**<br> **Receive (Deliver)** | **Contracts to**<br> **Receive (Deliver)** | **In Exchange For** | **In Exchange For** | **Settlement Date** | **Unrealized**<br> **Appreciation**<br>| **Unrealized**<br> **Depreciation**<br>|
| BNP | EUR | &nbsp;&nbsp; (16275000)<br>| USD | &nbsp;&nbsp; 19255815 | 10/3/25 | &nbsp;&nbsp; $144619 | &nbsp;&nbsp; $— |
| BNP | EUR | &nbsp;&nbsp; 20000 | USD | &nbsp;&nbsp; (23572)<br>| 10/3/25 | &nbsp;&nbsp; — | &nbsp;&nbsp; (87)<br>|
| BNP | EUR | &nbsp;&nbsp; 27000 | USD | &nbsp;&nbsp; (31409)<br>| 10/3/25 | &nbsp;&nbsp; 296 | &nbsp;&nbsp; — |
| BNP | GBP | &nbsp;&nbsp; (4579000)<br>| USD | &nbsp;&nbsp; 6250479 | 10/3/25 | &nbsp;&nbsp; 92073 | &nbsp;&nbsp; — |
| BNP | GBP | &nbsp;&nbsp; (108000)<br>| USD | &nbsp;&nbsp; 143700 | 10/3/25 | &nbsp;&nbsp; — | &nbsp;&nbsp; (1552)<br>|
| BOA | EUR | &nbsp;&nbsp; (189000)<br>| USD | &nbsp;&nbsp; 223210 | 10/3/25 | &nbsp;&nbsp; 1273 | &nbsp;&nbsp; — |
| BOA | EUR | &nbsp;&nbsp; (152000)<br>| USD | &nbsp;&nbsp; 177675 | 10/3/25 | &nbsp;&nbsp; — | &nbsp;&nbsp; (814)<br>|
| BOA | EUR | &nbsp;&nbsp; 22000 | USD | &nbsp;&nbsp; (25804)<br>| 10/3/25 | &nbsp;&nbsp; 30 | &nbsp;&nbsp; — |
| CBK | AUD | &nbsp;&nbsp; (711000)<br>| USD | &nbsp;&nbsp; 467662 | 10/3/25 | &nbsp;&nbsp; — | &nbsp;&nbsp; (2828)<br>|
| GSB | EUR | &nbsp;&nbsp; (114000)<br>| USD | &nbsp;&nbsp; 132396 | 10/3/25 | &nbsp;&nbsp; — | &nbsp;&nbsp; (1471)<br>|
| JPM | CAD | &nbsp;&nbsp; (2188000)<br>| USD | &nbsp;&nbsp; 1618244 | 10/3/25 | &nbsp;&nbsp; 45840 | &nbsp;&nbsp; — |
| JPM | CAD | &nbsp;&nbsp; (71000)<br>| USD | &nbsp;&nbsp; 50992 | 10/3/25 | &nbsp;&nbsp; — | &nbsp;&nbsp; (33)<br>|
| JPM | EUR | &nbsp;&nbsp; (383000)<br>| USD | &nbsp;&nbsp; 451277 | 10/3/25 | &nbsp;&nbsp; 1532 | &nbsp;&nbsp; — |
| JPM | EUR | &nbsp;&nbsp; 46000 | USD | &nbsp;&nbsp; (53781)<br>| 10/3/25 | &nbsp;&nbsp; 236 | &nbsp;&nbsp; — |
| JPM | EUR | &nbsp;&nbsp; (165000)<br>| USD | &nbsp;&nbsp; 192834 | 10/3/25 | &nbsp;&nbsp; — | &nbsp;&nbsp; (919)<br>|
| JPM | GBP | &nbsp;&nbsp; (135000)<br>| USD | &nbsp;&nbsp; 183168 | 10/3/25 | &nbsp;&nbsp; 1603 | &nbsp;&nbsp; — |
| JPM | JPY | &nbsp;&nbsp; (22950000)<br>| USD | &nbsp;&nbsp; 159828 | 10/3/25 | &nbsp;&nbsp; 4591 | &nbsp;&nbsp; — |
| RBC | GBP | &nbsp;&nbsp; 179000 | USD | &nbsp;&nbsp; (242056)<br>| 10/3/25 | &nbsp;&nbsp; — | &nbsp;&nbsp; (1315)<br>|
| SSB | EUR | &nbsp;&nbsp; 22000 | USD | &nbsp;&nbsp; (25803)<br>| 10/3/25 | &nbsp;&nbsp; 31 | &nbsp;&nbsp; — |
| SSB | GBP | &nbsp;&nbsp; (77000)<br>| USD | &nbsp;&nbsp; 103741 | 10/3/25 | &nbsp;&nbsp; 182 | &nbsp;&nbsp; — |
| **Total Foreign Currency Exchange Contracts** | **Total Foreign Currency Exchange Contracts** | **Total Foreign Currency Exchange Contracts** | **Total Foreign Currency Exchange Contracts** | **Total Foreign Currency Exchange Contracts** | **Total Foreign Currency Exchange Contracts** | &nbsp;&nbsp; $292306 | &nbsp;&nbsp; $(9019)<br>|

---

*LVIP Fidelity Institutional AM*<sup>®</sup> *Total Bond Fund–40*

------

**LVIP Fidelity Institutional AM**<sup>®</sup> **Total Bond Fund**

**Schedule of Investments (continued)**

**Futures Contracts** 

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Contracts to Buy (Sell)** | **Contracts to Buy (Sell)** | **Notional** <br>**Amount**<br>| **Notional** <br>**Cost (Proceeds)**<br>| **Expiration** <br>**Date**<br>| **Value/** <br>**Unrealized** <br>**Appreciation**<sup>1</sup> <br>| **Value/** <br>**Unrealized** <br>**Depreciation**<sup>1</sup> <br>|
| **Interest Rate Contracts:** | **Interest Rate Contracts:** | **Interest Rate Contracts:** | **Interest Rate Contracts:** | **Interest Rate Contracts:** | **Interest Rate Contracts:** | **Interest Rate Contracts:** |
| 865 | CBOT 10 Year U.S. Treasury Notes Futures | &nbsp;&nbsp; $97312500 | &nbsp;&nbsp; $96850722 | &nbsp;&nbsp; 12/19/25 | &nbsp;&nbsp; $461778 | &nbsp;&nbsp; $— |
| 224 | CBOT 2 Year U.S. Treasury Notes Futures | &nbsp;&nbsp; 46681250 | &nbsp;&nbsp; 46706152 | &nbsp;&nbsp; 12/31/25 | &nbsp;&nbsp; — | &nbsp;&nbsp; (24902)<br>|
| 29 | CBOT 5 Year U.S. Treasury Notes Futures | &nbsp;&nbsp; 3166664 | &nbsp;&nbsp; 3177538 | &nbsp;&nbsp; 12/31/25 | &nbsp;&nbsp; — | &nbsp;&nbsp; (10874)<br>|
| 27 | CBOT U.S. Long Bond Futures | &nbsp;&nbsp; 3148031 | &nbsp;&nbsp; 3182791 | &nbsp;&nbsp; 12/19/25 | &nbsp;&nbsp; — | &nbsp;&nbsp; (34760)<br>|
| (10) | Long Gilt Futures | &nbsp;&nbsp; (1221706)<br>| &nbsp;&nbsp; (1216578)<br>| &nbsp;&nbsp; 12/29/25 | &nbsp;&nbsp; — | &nbsp;&nbsp; (5128)<br>|
| 1 | Ultra 10 Year U.S. Treasury Notes Futures | &nbsp;&nbsp; 115078 | &nbsp;&nbsp; 115080 | &nbsp;&nbsp; 12/19/25 | &nbsp;&nbsp; — | &nbsp;&nbsp; (2)<br>|
| (12) | Ultra U.S. Treasury Bond Futures | &nbsp;&nbsp; (1440750)<br>| &nbsp;&nbsp; (1453918)<br>| &nbsp;&nbsp; 12/19/25 | &nbsp;&nbsp; 13168 | &nbsp;&nbsp; — |
| **Total Futures Contracts** | **Total Futures Contracts** | **Total Futures Contracts** | **Total Futures Contracts** | **Total Futures Contracts** | &nbsp;&nbsp; $474946 | &nbsp;&nbsp; $(75666)<br>|

---

**Swap Contracts**

**Credit Default Swap (CDS) Contracts** 

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **Reference**<br> **Obligation/**<br> **Payment**<br> **Frequency**<br>| **Notional**<br> **Amount**<sup>2</sup> <br>| **Annual**<br> **Protection**<br> **Payments**<br>| **Termination**<br> **Date**<br>| **Value** | **Upfront**<br> **Payments**<br> **Paid**<br> **(Received)**<br>| **Unrealized**<br> **Appreciation**<sup>1</sup> <br>| **Unrealized**<br> **Depreciation**<sup>1</sup> <br>|
| **Centrally Cleared:** |  |  |  |  |  |  |  |
| **Protection Purchased** |  |  |  |  |  |  |  |
| CDX.EM.IG.44 - Quarterly<sup>3</sup> <br>| 525000 | (1.00%) | 12/20/30 | $(7781) | $(7504) | $— | $(277) |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **Counterparty/**<br> **Reference**<br> **Obligation/**<br> **Payment**<br> **Frequency**<br>| **Notional**<br> **Amount**<sup>2</sup> <br>| **Annual**<br> **Protection**<br> **Payments**<br>| **Termination**<br> **Date**<br>| **Value** | **Upfront**<br> **Payments**<br> **Paid**<br> **(Received)**<br>| **Unrealized**<br> **Appreciation**<br>| **Unrealized**<br> **Depreciation**<br>|
| **Over-The-Counter:** |  |  |  |  |  |  |  |
| **Protection Purchased** |  |  |  |  |  |  |  |
| &nbsp;&nbsp; BNP Allianz SE 2.24 <br> 07/07/2045 - Quarterly<br>| EUR 350,000 | (1.00%) | 12/20/30 | $(4780) | $(4087) | $— | $(693) |
| &nbsp;&nbsp; CBK Aviva PLC 6.13 - <br> 14/11/2036 - Quarterly<br>| EUR 250,000 | (1.00%) | 12/20/30 | (491) | (70) |  | (421) |
| &nbsp;&nbsp; BNP BMW Finance NV 0.75 - <br> 07/13/2026 - Quarterly<br>| EUR 550,000 | (1.00%) | 6/20/30 | (14096) | (10045) |  | (4051) |
| &nbsp;&nbsp; GS CMBX.NA.AAA.17 - <br> Monthly<sup>4</sup> <br>| 100000 | (0.50%) | 12/15/56 | 1335 | 1387 |  | (52) |
| &nbsp;&nbsp; MSC CMBX.NA.BB.18 - <br> Monthly<sup>4</sup> <br>| 200000 | (5.00%) | 12/17/57 | 24878 | 28684 |  | (3806) |
| &nbsp;&nbsp; GS CMBX.NA.BBB-.18 - <br> Monthly<sup>4</sup> <br>| 700000 | (3.00%) | 12/17/57 | 50102 | 68341 |  | (18239) |
| &nbsp;&nbsp; CITI CMBX.NA.BBB-.18 - <br> Monthly<sup>4</sup> <br>| 700000 | (3.00%) | 12/17/57 | 50102 | 51871 |  | (1769) |
| &nbsp;&nbsp; GS CMBX.NA.BBB-.18 - <br> Monthly<sup>4</sup> <br>| 700000 | (3.00%) | 12/17/57 | 49986 | 50265 |  | (279) |
| &nbsp;&nbsp; JPM Commerzbank AG 4.00 <br> 05/12/2030 - Quarterly<br>| EUR 250,000 | (1.00%) | 12/20/30 | 1706 | 3093 |  | (1387) |
| &nbsp;&nbsp; BNP Deutsche Bank AG 5.625 <br> - 05/19/2031 - Quarterly<br>| EUR 200,000 | (1.00%) | 6/20/30 | 2075 | 4835 |  | (2760) |
| &nbsp;&nbsp; BNP Generali 4.125 - <br> 05/04/2026 - Quarterly<br>| EUR 250,000 | (1.00%) | 6/20/30 | (2455) | 857 |  | (3312) |
| &nbsp;&nbsp; JPM Heidelberg Materials AG <br> 3.75 05/31/2032 - Quarterly<br>| EUR 290,000 | (5.00%) | 12/20/30 | (71450) | (70006) |  | (1444) |
| &nbsp;&nbsp; JPM Intesa Sanpaolo SpA <br> 6.184 - 02/20/2034 - Quar-<br> terly<br>| EUR 250,000 | (1.00%) | 6/20/30 | (1874) | 1590 |  | (3464) |

---

*LVIP Fidelity Institutional AM*<sup>®</sup> *Total Bond Fund–41*

------

**LVIP Fidelity Institutional AM**<sup>®</sup> **Total Bond Fund**

**Schedule of Investments (continued)**

**Swap Contracts**

**Credit Default Swap (CDS) Contracts (continued)**

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **Counterparty/**<br> **Reference**<br> **Obligation/**<br> **Payment**<br> **Frequency**<br>| **Notional**<br> **Amount**<sup>2</sup><br>| **Annual**<br> **Protection**<br> **Payments**<br>| **Termination**<br> **Date**<br>| **Value** | **Upfront**<br> **Payments**<br> **Paid**<br> **(Received)**<br>| **Unrealized**<br> **Appreciation**<br>| **Unrealized**<br> **Depreciation**<br>|
| **Over-The-Counter:**<br> **(continued)** |  |  |  |  |  |  |  |
| **Protection Purchased**<br> **(continued)** |  |  |  |  |  |  |  |
| &nbsp;&nbsp; BNP Societe Generale SA <br> 5.25 - 09/06/2032 - Quarterly<br>| EUR 250,000 | (1.00%) | 6/20/30 | $1476 | $1955 | $— | $(479) |
| &nbsp;&nbsp; GSB UniCredit SpA 5.375 - <br> 04/16/2034 - Quarterly<br>| EUR 250,000 | (1.00%) | 6/20/30 | (740) | 2259 |  | (2999) |
|  |  |  |  |  | 130929 |  | (45155) |
| **Total CDS Contracts** | **Total CDS Contracts** | **Total CDS Contracts** | **Total CDS Contracts** | **Total CDS Contracts** | $123425 | $— | $(45432) |

---

**Swap Contracts**

**Interest Rate Swap (IRS) Contracts** 

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Reference**<br> **Obligation/**<br> **Payment**<br> **Frequency (Fixed**<br> **Rate/Floating Rate)**<br>| **Notional**<br> **Amount**<sup>2</sup> <br>| **Fixed**<br> **Interest**<br> **Rate Paid**<br> **(Received)**<br>| **Floating**<br> **Interest**<br> **Rate Paid**<br> **(Received)**<br>| **Termination**<br> **Date**<br>| **Value** | **Upfront**<br> **Payments**<br> **Paid**<br> **(Received)**<br>| **Unrealized**<br> **Appreciation**<sup>1</sup> <br>| **Unrealized**<br> **Depreciation**<sup>1</sup> <br>|
| **Centrally Cleared:** |  |  |  |  |  |  |  |  |
| Pay-Annual | 23779000 | (3.50%) | (1.00%) | 12/17/27 | $(90775) | $(173973) | $83198 | $— |
| Pay-Annual | 26300000 | (3.50%) | (1.00%) | 12/17/28 | (156510) | (302919) | 146409 |  |
| Pay-Annual | 5579000 | (3.75%) | (1.00%) | 12/17/29 | (88923) | (133304) | 44381 |  |
| Pay-Annual | 3146000 | (3.75%) | (1.00%) | 12/17/32 | (51304) | (89500) | 38196 |  |
| Pay-Annual | 2540000 | (3.75%) | (1.00%) | 12/17/45 | 75966 | 26206 | 49760 |  |
| Receive-Annual | 520000 | (3.75%) | (1.00%) | 12/17/35 | 3933 | 5868 |  | (1935) |
| **Total IRS Contracts** | **Total IRS Contracts** | **Total IRS Contracts** | **Total IRS Contracts** | **Total IRS Contracts** | **Total IRS Contracts** | $(667622) | $361944 | $(1935) |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

The use of foreign currency exchange contracts, futures contracts and swap contracts involves elements of market risk and risks in excess of the <br> amounts recognized in the financial statements. The foreign currency exchange contracts and notional amounts presented above represent the <br> Fund's total exposure in such contracts, whereas only the net unrealized appreciation (depreciation) is reflected in the Fund's net assets.<br>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| |
|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <sup>1</sup> Includes cumulative appreciation (depreciation) of futures and centrally cleared swap contracts from the date the contracts were opened <br> through September 30, 2025. |
| &nbsp;&nbsp;&nbsp;&nbsp; <sup>2</sup> Notional amount shown is stated in U.S. dollars unless noted that the swap is denominated in another currency. |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <sup>3</sup> Markit's CDX.EM Index is composed of fourteen sovereign issuers from the following regions: Latin America, Middle East, Eastern Europe, <br> Africa and Asia. Constituents for the index can be found at www.markit.com/Documentation. |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <sup>4</sup> CMBX.NA.AAA, CMBX.NA.AS, CMBX.NA.AA, CMBX.NA.A, CMBX.NA.BBB and CMBX.NA.BB (collectively, the "CMBX Indices" and each, a <br> "CMBX Index"). Each CMBX Index will be composed of 25 reference obligations that are tranches of commercial mortgage-backed <br> securities offerings. |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| |
|:---|
| **Summary of Abbreviations:** |
| AUD–Australian Dollar |
| BMO–Bank of Montreal  |
| BNP–BNP Paribas |
| BOA–Bank of America |
| CAD–Canadian Dollar |
| CBK–Citibank NA |
| CBOT–Chicago Board of Trade |
| CITI–Citigroup Global Markets |
| CLO–Collateralized Loan Obligation |
| CME–Chicago Mercantile Exchange |
| CMPC–Coût Moyen Pondéré du Capital |
| DB–Deutsche Bank |
| DB-JPM–Deutsche Bank JPMorgan |

---

*LVIP Fidelity Institutional AM*<sup>®</sup> *Total Bond Fund–42*

------

**LVIP Fidelity Institutional AM**<sup>®</sup> **Total Bond Fund**

**Schedule of Investments (continued)**

---

| |
|:---|
| **Summary of Abbreviations: (continued)** |
| EUR–Euro |
| GBP–British Pound Sterling |
| GS–Goldman Sachs |
| GSB–Goldman Sachs Bank USA |
| HSBC–Hong Kong and Shanghai Banking Corporation |
| IRS–Interest Rate Swap |
| JPM–JPMorgan Chase Bank NA |
| JPY–Japanese Yen |
| LNG–Liquefied Natural Gas |
| MSC–Morgan Stanley & Co. |
| MSCI–Morgan Stanley Capital International |
| PJSC–Public Joint Stock Company |
| Prime Rate–Interest rate charged by banks to their most credit worthy customers |
| RBC–Royal Bank of Canada |
| REIT–Real Estate Investment Trust |
| REMIC–Real Estate Mortgage Investment Conduits |
| SOFR–Secured Overnight Financing Rate |
| SSB–State Street Bank |
| TBA–To be announced |
| USD–United States Dollar |

---

*LVIP Fidelity Institutional AM*<sup>®</sup> *Total Bond Fund–43*

------

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** LINCOLN VARIABLE INSURANCE PRODUCTS TRUST

- **b. Investment Company Act file number:** 811-08090

- **c. CIK number of Registrant:** 0000914036

- **d. LEI of Registrant:** 3EICVM5HD7FVBIM8WO57

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

  - **Street Address 1:** 1301 S. Harrison Street

  - **City:** FORT WAYNE

  - **State:** IN

  - **Foreign country:** US

  - **Zip / Postal Code:** 46802

  - **Telephone number:** 260-455-2000

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

- **a. Name of Series:** LVIP Fidelity Institutional AM(R) Total Bond Fund

- **b. EDGAR series identifier (if any):** S000070165

- **c. LEI of Series:** 549300JTA30014W9UF64

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

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

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

**Item A.4. Final filing**

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

### Fund Information

**Total Assets:** $2547684986.67

**Total Liabilities:** $364731268.63

**Net Assets:** $2182953718.04

**Delayed Delivery Securities:** $161462756.90

**Cash Not Reported:** $531791.78

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** -1802.08000000 | **1-Year:** -40240.41000000 | **5-Year:** -153773.51000000 | **10-Year:** -88662.31000000 | **30-Year:** -23295.06000000

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

- **3-Month:** -874.40000000 | **1-Year:** -21675.26000000 | **5-Year:** -63470.87000000 | **10-Year:** -16538.89000000 | **30-Year:** -474.28000000

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000223150 | -0.12%               | 1.20%                | 1.05%                |
| Class ID C000223151 | -0.10%               | 1.22%                | 1.09%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $1259352.03              | $-11974622.98                              |
| Month 2  | $1048842.24              | $16659790.18                               |
| Month 3  | $2004207.92              | $13355096.50                               |

**Designated Index Information**

- **Index Name:** Bloomberg US Aggregate Bond Index

- **Index Identifier:** LBUSTRUU

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| JANE STREET GRP/JSG FIN                                          | Jane Street Group / JSG Finance Inc                                                                                          | CUSIP: 47077WAE8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    330000 | PA      | $342749.32    | 0.02%             | 2033-05-01      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                       | Fannie Mae Pool                                                                                                              | CUSIP: 3140X5FW8<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   1015077 | PA      | $917372.12    | 0.04%             | 2048-11-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                       | Fannie Mae Pool                                                                                                              | CUSIP: 3140XKZP8<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   1128282 | PA      | $1052886.72   | 0.05%             | 2050-01-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| SUNOCO LP                                                        | Sunoco LP                                                                                                                    | CUSIP: 86765KAE9<br>LEI: 54930001NJU8E40NQ561 | Long             | DBT              | CORP              | US        |    205000 | PA      | $208220.55    | 0.01%             | 2030-09-18      | Fixed         | 7.88%                 | No            |                  2 | On Loan: No      |
| DAVITA INC                                                       | DaVita Inc 2025 Term Loan B                                                                                                  | CUSIP: 23918VBC7<br>LEI: M2XHYMU3TZNEZURC6H66 | Long             | LON              | CORP              | US        |    497497 | PA      | $498168.48    | 0.02%             | 2031-05-09      | Floating      | 5.91%                 | No            |                  2 | On Loan: No      |
| X.AI LLC/X.AI CO ISSUER                                          | X.AI LLC / X.AI Co Issuer Corp                                                                                               | CUSIP: 983984AA3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    400000 | PA      | $419479.20    | 0.02%             | 2030-06-30      | Fixed         | 12.50%                | No            |                  2 | On Loan: No      |
| TK ELEVATOR MIDCO GMBH                                           | TK Elevator Midco GmbH 2025 USD Term Loan B                                                                                  | CUSIP: 000000000<br>LEI: 549300C2AFWPAYWS5574 | Long             | LON              | CORP              | US        |    497503 | PA      | $498587.68    | 0.02%             | 2030-04-30      | Floating      | 7.20%                 | No            |                  2 | On Loan: No      |
| TKO WORLDWIDE HOLDINGS LLC                                       | TKO WORLDWIDE HOLDINGS LLC 2025 TERM LOAN                                                                                    | CUSIP: 90266UAL7<br>LEI: 549300JEOTH7UMZ3C491 | Long             | LON              | CORP              | US        |    114712 | PA      | $114837.54    | 0.01%             | 2031-11-21      | Floating      | 6.04%                 | No            |                  2 | On Loan: No      |
| BPR Trust                                                        | BPR Commercial Mortgage Trust 2024-PARK                                                                                      | CUSIP: 05593UAA3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   5000000 | PA      | $5090969.00   | 0.23%             | 2039-11-05      | Variable      | 5.39%                 | No            |                  2 | On Loan: No      |
| IHS HOLDING LTD                                                  | IHS Holding Ltd                                                                                                              | CUSIP: 44963HAA3<br>LEI: 213800CLGMKL63VKTD94 | Long             | DBT              | CORP              | KY        |     80000 | PA      | $79303.50     | 0.00%             | 2026-11-29      | Fixed         | 5.63%                 | No            |                  2 | On Loan: No      |
| CCO HLDGS LLC/CAP CORP                                           | CCO Holdings LLC / CCO Holdings Capital Corp                                                                                 | CUSIP: 1248EPCL5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    600000 | PA      | $533436.46    | 0.02%             | 2033-06-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| United States Treasury                                           | U.S. Treasury Notes                                                                                                          | CUSIP: 91282CGQ8<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  38410000 | PA      | $38855615.92  | 1.78%             | 2030-02-28      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| CROWN FINANCE US INC                                             | Crown Finance US Inc 2025 Term Loan B                                                                                        | CUSIP: 22834KAV3<br>LEI: 254900ABTWPQTCKKR839 | Long             | LON              | CORP              | US        |    995000 | PA      | $992144.35    | 0.05%             | 2031-12-02      | Floating      | 8.78%                 | No            |                  2 | On Loan: No      |
| COPT DEFENSE PROP LP                                             | COPT Defense Properties LP                                                                                                   | CUSIP: 12713UAA4<br>LEI: H0TWO5VRNEP6CQAWPX27 | Long             | DBT              |  | US        |    178000 | PA      | $176826.18    | 0.01%             | 2030-10-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| HERENS HOLDCO SARL                                               | Herens Holdco Sarl                                                                                                           | CUSIP: 427169AA5<br>LEI: 2221002FZ55AMAUX4G64 | Long             | DBT              | CORP              | LU        |    300000 | PA      | $262826.73    | 0.01%             | 2028-05-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| PETROLEOS DE VENEZUELA S                                         | Petroleos de Venezuela SA                                                                                                    | CUSIP: 000000000<br>LEI: 549300YWR8TN1OFD4P06 | Long             | DBT              | CORP              | VE        |    450000 | PA      | $72225.00     | 0.00%             | 2027-04-12      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| MARS INC                                                         | Mars Inc                                                                                                                     | CUSIP: 571676BA2<br>LEI: 54930073HKEO6GZBSS03 | Long             | DBT              | CORP              | US        |   2855000 | PA      | $2918199.79   | 0.13%             | 2035-03-01      | Fixed         | 5.20%                 | No            |                  2 | On Loan: No      |
| BMO Mortgage Trust                                               | BMO 2025-5C12 Mortgage Trust                                                                                                 | CUSIP: 09663VAE0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   2300000 | PA      | $83137.64     | 0.00%             | 2058-10-15      | Variable      | 0.97%                 | No            |                  2 | On Loan: No      |
| BALL CORP                                                        | Ball Corp                                                                                                                    | CUSIP: 058498BA3<br>LEI: 0BGI85ALH27ZJP15DY16 | Long             | DBT              | CORP              | US        |     70000 | PA      | $70752.42     | 0.00%             | 2033-09-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Petroleos Mexicanos                                              | Petroleos Mexicanos                                                                                                          | CUSIP: 71654QCK6<br>LEI: 549300CAZKPF4HKMPX17 | Long             | DBT              | CORP              | MX        |   2060000 | PA      | $2051221.21   | 0.09%             | 2028-02-12      | Fixed         | 5.35%                 | No            |                  2 | On Loan: No      |
| BANK OF AMERICA CORP                                             | Bank of America Corp                                                                                                         | CUSIP: 06051GML0<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |   3080000 | PA      | $3178822.72   | 0.15%             | 2031-01-24      | Fixed         | 5.16%                 | No            |                  2 | On Loan: No      |
| JPMorgan Chase Bank NA                                           | LJH658000 SWAPTION                                                                                                           | CUSIP: 000000000<br>LEI: 7H6GLXDRUGQFU57RNE97 | N/A              | DIR              |  | US        |    570000 | NC      | $10932.39     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| TALOS PRODUCTION INC                                             | Talos Production Inc                                                                                                         | CUSIP: 87485LAE4<br>LEI: 549300GZ2DZZE2Y8TX15 | Long             | DBT              | CORP              | US        |    100000 | PA      | $104152.60    | 0.00%             | 2031-02-01      | Fixed         | 9.38%                 | No            |                  2 | On Loan: No      |
| BOEING CO/THE                                                    | Boeing Co/The                                                                                                                | CUSIP: 097023DT9<br>LEI: RVHJWBXLJ1RFUBSY1F30 | Long             | DBT              | CORP              | US        |   3000000 | PA      | $3422109.30   | 0.16%             | 2054-05-01      | Fixed         | 6.86%                 | No            |                  2 | On Loan: No      |
| PRA GROUP INC                                                    | PRA Group Inc                                                                                                                | CUSIP: 69354NAF3<br>LEI: 549300Q5HW3JSSB86K27 | Long             | DBT              | CORP              | US        |    130000 | PA      | $134151.94    | 0.01%             | 2030-01-31      | Fixed         | 8.88%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                         | Ginnie Mae II Pool                                                                                                           | CUSIP: 3618N5MS5<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   1138604 | PA      | $1170240.45   | 0.05%             | 2055-05-20      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Panama Government International Bonds                            | Panama Government International Bonds                                                                                        | CUSIP: 698299BZ6<br>LEI: 549300SHS4T08CL0LP14 | Long             | DBT              | NUSS              | PA        |    200000 | PA      | $224950.00    | 0.01%             | 2057-03-01      | Fixed         | 7.88%                 | No            |                  2 | On Loan: No      |
| ASHTON WOODS USA/FINANCE                                         | Ashton Woods USA LLC / Ashton Woods Finance Co                                                                               | CUSIP: 045086AM7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    100000 | PA      | $95757.44     | 0.00%             | 2029-08-01      | Fixed         | 4.63%                 | No            |                  2 | On Loan: No      |
| STARWOOD PROPERTY TRUST                                          | Starwood Property Trust Inc                                                                                                  | CUSIP: 85571BBB0<br>LEI: BUGSFQZERKRBFWIG5267 | Long             | DBT              |  | US        |    150000 | PA      | $157506.78    | 0.01%             | 2029-04-01      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| BRASKEM NETHERLANDS                                              | Braskem Netherlands Finance BV                                                                                               | CUSIP: 10554TAG0<br>LEI: 2549000TLMHFQ74DS330 | Long             | DBT              | CORP              | NL        |    290000 | PA      | $111315.05    | 0.01%             | 2033-02-13      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| PERFORMANCE FOOD GROUP I                                         | Performance Food Group Inc                                                                                                   | CUSIP: 71376LAF7<br>LEI: 549300OMUOGBYK0FFO76 | Long             | DBT              | CORP              | US        |    135000 | PA      | $138281.99    | 0.01%             | 2032-09-15      | Fixed         | 6.13%                 | No            |                  2 | On Loan: No      |
| Cardenas Markets Inc                                             | Cardenas Markets Inc 2022 Term Loan                                                                                          | CUSIP: 14141NAB6<br>LEI: 254900WQ0CLAIQ6DHO57 | Long             | LON              | CORP              | US        |    497436 | PA      | $421024.77    | 0.02%             | 2029-08-01      | Floating      | 10.85%                | No            |                  2 | On Loan: No      |
| BROADCOM INC                                                     | Broadcom Inc                                                                                                                 | CUSIP: 11135FBQ3<br>LEI: 549300WV6GIDOZJTV909 | Long             | DBT              | CORP              | US        |   1965000 | PA      | $1676886.87   | 0.08%             | 2036-11-15      | Fixed         | 3.19%                 | No            |                  2 | On Loan: No      |
| TELUS CORP                                                       | TELUS Corp                                                                                                                   | CUSIP: 87971MCM3<br>LEI: 894500WE70KKZRQMBU11 | Long             | DBT              | CORP              | CA        |     66000 | PA      | $69591.52     | 0.00%             | 2055-10-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| BX Trust                                                         | BX Trust 2024-CNYN                                                                                                           | CUSIP: 05612HAA9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1014208 | PA      | $1015476.05   | 0.05%             | 2041-04-15      | Floating      | 5.59%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF RWANDA                                               | Rwanda International Government Bond                                                                                         | CUSIP: 78347YAL7<br>LEI: 213800DQC28OBRZDYJ87 | Long             | DBT              | NUSS              | RW        |    100000 | PA      | $89680.28     | 0.00%             | 2031-08-09      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| TURK IHRACAT KR BK                                               | Turkiye Ihracat Kredi Bankasi AS                                                                                             | CUSIP: 90015LAK3<br>LEI: 789000JVRVYLAXGDWR11 | Long             | DBT              | NUSS              | TR        |    200000 | PA      | $204170.79    | 0.01%             | 2028-07-03      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| American Airlines, Inc.                                          | American Airlines Inc 2025 Term Loan B                                                                                       | CUSIP: 02376CBT1<br>LEI: IWUQB36BXD6OWD6X4T14 | Long             | LON              | CORP              | KY        |     99750 | PA      | $100124.06    | 0.00%             | 2032-05-28      | Floating      | 7.58%                 | No            |                  2 | On Loan: No      |
| DP WORLD SALAAM                                                  | DP World Salaam                                                                                                              | CUSIP: 000000000<br>LEI: 549300SUYBT9X88E9435 | Long             | DBT              | CORP              | KY        |    200000 | PA      | $199819.35    | 0.01%             | 2025-10-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| HEXION HOLDINGS CORPORATION                                      | Hexion Holdings Corporation 2024 Term Loan B                                                                                 | CUSIP: 00217XAE6<br>LEI: 549300LBB370MUHGLV84 | Long             | LON              | CORP              | US        |   1044724 | PA      | $1042675.96   | 0.05%             | 2029-03-15      | Floating      | 8.14%                 | No            |                  2 | On Loan: No      |
| CLEVELAND-CLIFFS INC                                             | Cleveland-Cliffs Inc                                                                                                         | CUSIP: 185899AR2<br>LEI: 549300TM2WLI2BJMDD86 | Long             | DBT              | CORP              | US        |    100000 | PA      | $102087.00    | 0.00%             | 2033-05-01      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| COMMONWEALTH BANK AUST                                           | Commonwealth Bank of Australia                                                                                               | CUSIP: 202712BN4<br>LEI: MSFSBD3QN1GSN7Q6C537 | Long             | DBT              | CORP              | AU        |    365000 | PA      | $330195.78    | 0.02%             | 2031-03-11      | Fixed         | 2.69%                 | No            |                  2 | On Loan: No      |
| PHILLIPS EDISON GROCERY                                          | Phillips Edison Grocery Center Operating Partnership I LP                                                                    | CUSIP: 71845JAA6<br>LEI: 549300WUPIVS6ZE0ZI51 | Long             | DBT              |  | US        |   2470000 | PA      | $2192101.54   | 0.10%             | 2031-11-15      | Fixed         | 2.63%                 | No            |                  2 | On Loan: No      |
| VB-S1 Issuer LLC                                                 | VB-S1 Issuer LLC - VBTEL                                                                                                     | CUSIP: 91823ABG5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    300000 | PA      | $311032.86    | 0.01%             | 2054-05-15      | Fixed         | 8.87%                 | No            |                  2 | On Loan: No      |
| Colombia Government International Bonds                          | Colombia Government International Bonds                                                                                      | CUSIP: 195325CU7<br>LEI: 549300MHDRBVRF6B9117 | Long             | DBT              | NUSS              | CO        |    242000 | PA      | $181621.00    | 0.01%             | 2045-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Amentum Government Services Holdings LLC                         | Amentum Government Services Holdings LLC 2024 Term Loan B                                                                    | CUSIP: 02351XAB4<br>LEI: 2549009FJIBLW40CU216 | Long             | LON              | CORP              | US        |    601504 | PA      | $600787.77    | 0.03%             | 2031-09-29      | Floating      | 6.41%                 | No            |                  2 | On Loan: No      |
| SAMHALLSBYG HOLD                                                 | Samhallsbyggnadsbolaget I Norden Holding AB                                                                                  | CUSIP: 000000000<br>LEI: 636700JPED0N9T4ET363 | Long             | DBT              | CORP              | SE        |    215000 | PA      | $232200.66    | 0.01%             | 2027-07-12      | Fixed         | 2.25%                 | No            |                  2 | On Loan: No      |
| ALLIED UNIVERSAL HOLDCO                                          | Allied Universal Holdco LLC                                                                                                  | CUSIP: 019576AD9<br>LEI: 98450038B4549046D794 | Long             | DBT              | CORP              | US        |    350000 | PA      | $366973.50    | 0.02%             | 2031-02-15      | Fixed         | 7.88%                 | No            |                  2 | On Loan: No      |
| NEPTUNE BIDCO US INC                                             | Neptune Bidco US Inc                                                                                                         | CUSIP: 640695AA0<br>LEI: 549300VG15T3VCYZ4531 | Long             | DBT              | CORP              | US        |    300000 | PA      | $294507.00    | 0.01%             | 2029-04-15      | Fixed         | 9.29%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                      | Freddie Mac Pool                                                                                                             | CUSIP: 3132DNCD3<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   3152024 | PA      | $2898733.58   | 0.13%             | 2052-04-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                      | Freddie Mac Pool                                                                                                             | CUSIP: 3132DPK49<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   6881110 | PA      | $6552674.88   | 0.30%             | 2052-09-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| LIGHTNING POWER LLC                                              | Lightning Power LLC                                                                                                          | CUSIP: 53229KAA7<br>LEI: 254900BWCHJ03XRL8K59 | Long             | DBT              | CORP              | US        |    100000 | PA      | $105871.60    | 0.00%             | 2032-08-15      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| AMBIPAR LUX SARL                                                 | Ambipar Lux Sarl                                                                                                             | CUSIP: 02319WAA9<br>LEI: 9845008C0E14F9BDEK55 | Long             | DBT              | CORP              | LU        |    306000 | PA      | $52173.00     | 0.00%             | 2031-02-06      | Fixed         | 9.88%                 | No            |                  2 | On Loan: No      |
| ALLIED UNIVERSAL HOLDCO LLC                                      | Allied Universal Holdco LLC 2025 USD Term Loan B                                                                             | CUSIP: 01957TAX5<br>LEI: 98450038B4549046D794 | Long             | LON              | CORP              | US        |    855000 | PA      | $857718.90    | 0.04%             | 2032-08-20      | Floating      | 7.51%                 | No            |                  2 | On Loan: No      |
| BX TRUST 2024 VLT4                                               | BX TRUST 2024 VLT4                                                                                                           | CUSIP: 05612TAJ4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    275000 | PA      | $275343.50    | 0.01%             | 2041-06-15      | Floating      | 7.04%                 | No            |                  2 | On Loan: No      |
| ACURIS FIN US/ACURIS FIN                                         | Acuris Finance US Inc / Acuris Finance SARL                                                                                  | CUSIP: 00511BAA5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    250000 | PA      | $242969.00    | 0.01%             | 2028-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF SRI LANKA                                            | Sri Lanka Government International Bond                                                                                      | CUSIP: 000000000<br>LEI: 254900IG6Y30I2QE2R92 | Long             | DBT              | NUSS              | LK        |    110128 | PA      | $94071.23     | 0.00%             | 2033-03-15      | Variable      | 3.35%                 | No            |                  2 | On Loan: No      |
| STARWOOD PROPERTY TRUST                                          | Starwood Property Trust Inc                                                                                                  | CUSIP: 85571BBF1<br>LEI: BUGSFQZERKRBFWIG5267 | Long             | DBT              |  | US        |     70000 | PA      | $70020.27     | 0.00%             | 2028-10-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Broadstreet Partners Inc                                         | Broadstreet Partners Inc 2024 Term Loan B4                                                                                   | CUSIP: 11132VAY5<br>LEI: 549300BS9N54G8DD0R75 | Long             | LON              | CORP              | US        |    497626 | PA      | $498018.66    | 0.02%             | 2031-06-13      | Floating      | 6.91%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                      | Freddie Mac REMICS                                                                                                           | CUSIP: 3137F85N9<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    252688 | PA      | $196381.08    | 0.01%             | 2051-01-25      | Fixed         | 1.00%                 | No            |                  2 | On Loan: No      |
| ION TRADING TECHNOLOGIES                                         | ION Trading Technologies Sarl                                                                                                | CUSIP: 46205YAA9<br>LEI: 5493009ZVXOKZLQ6QJ12 | Long             | DBT              | CORP              | LU        |    265000 | PA      | $260051.97    | 0.01%             | 2028-05-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| UKRAINE GOVERNMENT                                               | Ukraine Government International Bond                                                                                        | CUSIP: 903724CG5<br>LEI: 6354001WLTJXOMEXPY07 | Long             | DBT              | NUSS              | UA        |     57496 | PA      | $27893.04     | 0.00%             | 2036-02-01      | Variable      | 0.00%                 | No            |                  2 | On Loan: No      |
| Flutter Financing BV                                             | Flutter Financing BV 2024 Term Loan B                                                                                        | CUSIP: 000000000<br>LEI: 635400VFWPBIKJK6GN11 | Long             | LON              | CORP              | NL        |    497468 | PA      | $495354.12    | 0.02%             | 2030-11-30      | Floating      | 5.75%                 | No            |                  2 | On Loan: No      |
| NXP BV/NXP FDG/NXP USA                                           | NXP BV / NXP Funding LLC / NXP USA Inc                                                                                       | CUSIP: 62954HBH0<br>LEI: N/A                  | Long             | DBT              | CORP              | XX        |   1581000 | PA      | $1597141.11   | 0.07%             | 2035-08-19      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| QATAR ENERGY                                                     | QatarEnergy                                                                                                                  | CUSIP: 74730DAC7<br>LEI: 254900QTESJKJ3P87J26 | Long             | DBT              | CORP              | QA        |    200000 | PA      | $179996.00    | 0.01%             | 2031-07-12      | Fixed         | 2.25%                 | No            |                  2 | On Loan: No      |
| SIXTH STREET LENDING PAR                                         | Sixth Street Lending Partners                                                                                                | CUSIP: 829932AE2<br>LEI: 549300S9P1HMDERGCR64 | Long             | DBT              | CORP              | US        |   4220000 | PA      | $4362950.94   | 0.20%             | 2030-07-15      | Fixed         | 6.13%                 | No            |                  2 | On Loan: No      |
| JPMORGAN CHASE & CO                                              | JPMorgan Chase & Co                                                                                                          | CUSIP: 46647PEB8<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | DBT              | CORP              | US        |   2075000 | PA      | $2125735.14   | 0.10%             | 2030-01-23      | Fixed         | 5.01%                 | No            |                  2 | On Loan: No      |
| NEW HOME CO INC/THE                                              | New Home Co Inc/The                                                                                                          | CUSIP: 645370AG2<br>LEI: 549300PLCE8TB3TVRQ85 | Long             | DBT              | CORP              | US        |     65000 | PA      | $67473.97     | 0.00%             | 2030-11-01      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| UMBS, TBA                                                        | Uniform Mortgage-Backed Security, TBA                                                                                        | CUSIP: 01F0424A8<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |   1950000 | PA      | $1947427.85   | 0.09%             | 2039-10-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Chile Government International Bonds                             | Chile Government International Bonds                                                                                         | CUSIP: 168863DW5<br>LEI: 549300FLZTJM5YJF8D34 | Long             | DBT              | NUSS              | CL        |    200000 | PA      | $157500.00    | 0.01%             | 2052-01-31      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| TALLGRASS NRG PRTNR/FIN                                          | Tallgrass Energy Partners LP / Tallgrass Energy Finance Corp                                                                 | CUSIP: 87470LAM3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     70000 | PA      | $69297.44     | 0.00%             | 2034-03-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| THE BERKELEY GROUP PLC                                           | Berkeley Group PLC/The                                                                                                       | CUSIP: 000000000<br>LEI: 2138001V85JLYR7AUB61 | Long             | DBT              | CORP              | GB        |    427000 | PA      | $486856.69    | 0.02%             | 2031-08-11      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| CALPINE CORP                                                     | Calpine Corp                                                                                                                 | CUSIP: 131347CP9<br>LEI: 43R4VPJBXTU2O15HEF41 | Long             | DBT              | CORP              | US        |    100000 | PA      | $99017.33     | 0.00%             | 2029-02-01      | Fixed         | 4.63%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                      | Freddie Mac Gold Pool                                                                                                        | CUSIP: 31335BZT6<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   2007710 | PA      | $2091498.40   | 0.10%             | 2041-09-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| SG Commercial Mortgage Securities Trust                          | SG Commercial Mortgage Securities Trust 2019-PREZ                                                                            | CUSIP: 78430EAJ4<br>LEI: 549300SZQW4U3UN4A157 | Long             | ABS-MBS          | CORP              | US        |    135000 | PA      | $116639.26    | 0.01%             | 2039-09-15      | Variable      | 3.59%                 | No            |                  2 | On Loan: No      |
| Fiesta Purchaser Inc                                             | Fiesta Purchaser Inc 2025 Repriced Term Loan                                                                                 | CUSIP: 31659LAF9<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    497497 | PA      | $496203.37    | 0.02%             | 2031-02-12      | Floating      | 6.91%                 | No            |                  2 | On Loan: No      |
| C+S WHOLESALE GROCERS INC                                        | C+S WHOLESALE GROCERS INC TERM LOAN B                                                                                        | CUSIP: 000000000<br>LEI: 54930093F8X1FEZBGJ91 | Long             | LON              | CORP              | US        |    300000 | PA      | $292500.00    | 0.01%             | 2030-08-06      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| SUZANO AUSTRIA GMBH                                              | Suzano Austria GmbH                                                                                                          | CUSIP: 86964WAH5<br>LEI: 254900287ZNSGVP1R341 | Long             | DBT              | CORP              | AT        |    200000 | PA      | $200849.40    | 0.01%             | 2030-01-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ARAB REPUBLIC OF EGYPT                                           | Egypt Government International Bond                                                                                          | CUSIP: 038461AL3<br>LEI: 529900GFIVH4086NMH82 | Long             | DBT              | NUSS              | EG        |    200000 | PA      | $202398.23    | 0.01%             | 2027-01-31      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| ADIENT GLOBAL HOLDINGS                                           | Adient Global Holdings Ltd                                                                                                   | CUSIP: 00687YAD7<br>LEI: 213800VA38VCKE6M8790 | Long             | DBT              | CORP              | JE        |    150000 | PA      | $155319.77    | 0.01%             | 2033-02-15      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| CENTURY ALUMINUM COMPANY                                         | Century Aluminum Co                                                                                                          | CUSIP: 156431AS7<br>LEI: 549300U5ODNGEYWKSW73 | Long             | DBT              | CORP              | US        |    130000 | PA      | $134732.00    | 0.01%             | 2032-08-01      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| VERIZON COMMUNICATIONS                                           | Verizon Communications Inc                                                                                                   | CUSIP: 92343VGJ7<br>LEI: 2S72QS2UO2OESLG6Y829 | Long             | DBT              | CORP              | US        |   2055000 | PA      | $1868426.49   | 0.09%             | 2031-03-21      | Fixed         | 2.55%                 | No            |                  2 | On Loan: No      |
| Royal Bank of Canada                                             | PURCHASED GBP / SOLD USD                                                                                                     | CUSIP: 000000000<br>LEI: ES7IP3U3RHIGC71XBU11 | N/A              | DFE              |  | GB        |         1 | NC      | $-1314.95     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| FIESTA PURCHASER INC                                             | Fiesta Purchaser Inc                                                                                                         | CUSIP: 31659AAA4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     65000 | PA      | $68596.65     | 0.00%             | 2031-03-01      | Fixed         | 7.88%                 | No            |                  2 | On Loan: No      |
| KEHE DIST/FIN / NEXTWAVE                                         | KeHE Distributors LLC / KeHE Finance Corp / NextWave Distribution Inc                                                        | CUSIP: 487526AC9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    265000 | PA      | $278820.55    | 0.01%             | 2029-02-15      | Fixed         | 9.00%                 | No            |                  2 | On Loan: No      |
| TRANSDIGM INC                                                    | TransDigm Inc                                                                                                                | CUSIP: 893647CA3<br>LEI: 88Q84GB3X55CF5OC7582 | Long             | DBT              | CORP              | US        |    230000 | PA      | $237810.58    | 0.01%             | 2034-01-31      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF INDONESIA                                            | Indonesia Government International Bond                                                                                      | CUSIP: 455780AT3<br>LEI: 529900FWX0GRR7WG5W79 | Long             | DBT              | NUSS              | ID        |    200000 | PA      | $255416.85    | 0.01%             | 2035-10-12      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| Peru Government International Bonds                              | Peru Government International Bonds                                                                                          | CUSIP: 715638DS8<br>LEI: 254900STKLK2DBJJZ530 | Long             | DBT              | NUSS              | PE        |    100000 | PA      | $77650.00     | 0.00%             | 2041-03-11      | Fixed         | 3.30%                 | No            |                  2 | On Loan: No      |
| BX Trust                                                         | BX Commercial Mortgage Trust 2024-XL4                                                                                        | CUSIP: 05611VAC5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1392053 | PA      | $1395532.76   | 0.06%             | 2039-02-15      | Floating      | 5.94%                 | No            |                  2 | On Loan: No      |
| Dominos Pizza Master Issuer LLC                                  | Domino's Pizza Master Issuer LLC                                                                                             | CUSIP: 25755TAH3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   4700000 | PA      | $4668758.63   | 0.21%             | 2047-07-25      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                       | Fannie Mae Pool                                                                                                              | CUSIP: 3140Y66E5<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    620334 | PA      | $643152.20    | 0.03%             | 2055-08-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| AVEANNA HEALTHCARE LLC                                           | AVEANNA HEALTHCARE LLC 2025 TERM LOAN B                                                                                      | CUSIP: 05549DAN8<br>LEI: 5493006D6JRLPIY8YV18 | Long             | LON              | CORP              | US        |     65000 | PA      | $64918.75     | 0.00%             | 2032-09-17      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Citibank NA                                                      | PURCHASED USD / SOLD AUD                                                                                                     | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DFE              |  | US        |         1 | NC      | $-2827.92     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| TBA TD COC USD                                                   | TBA TD COC USD                                                                                                               | CUSIP: 000000000<br>LEI: N/A                  | Short            | STIV             | CORP              | US        |    -30000 | NS      | $-30000.00    | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| OCP CLO Ltd                                                      | OCP CLO 2020-8R Ltd                                                                                                          | CUSIP: 670898AW5<br>LEI: 254900K70GBA8CMARX66 | Long             | ABS-CBDO         | CORP              | KY        |   1214000 | PA      | $1214000.00   | 0.06%             | 2038-10-17      | Floating      | 0.00%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF SRI LANKA                                            | Sri Lanka Government International Bond                                                                                      | CUSIP: 000000000<br>LEI: 254900IG6Y30I2QE2R92 | Long             | DBT              | NUSS              | LK        |     52468 | PA      | $50133.19     | 0.00%             | 2028-04-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Tory Burch LLC                                                   | Tory Burch LLC Term Loan B                                                                                                   | CUSIP: 89148GAF7<br>LEI: 549300GGL74W33KY2650 | Long             | LON              | CORP              | US        |    497403 | PA      | $489230.28    | 0.02%             | 2028-04-16      | Floating      | 7.53%                 | No            |                  2 | On Loan: No      |
| MSCI INC                                                         | MSCI Inc                                                                                                                     | CUSIP: 55354GAR1<br>LEI: 549300HTIN2PD78UB763 | Long             | DBT              | CORP              | US        |   1099000 | PA      | $1108098.58   | 0.05%             | 2035-09-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Argentina Republic Government International Bonds                | Argentina Republic Government International Bonds                                                                            | CUSIP: 040114HU7<br>LEI: 549300KPBYGYF7HCHO27 | Long             | DBT              | NUSS              | AR        |    450000 | PA      | $252675.00    | 0.01%             | 2038-01-09      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| BIOCON BIOLOGICS GLOBAL                                          | Biocon Biologics Global PLC                                                                                                  | CUSIP: 090978AA5<br>LEI: 254900PMQN51VACG2D55 | Long             | DBT              | CORP              | GB        |     55000 | PA      | $53433.84     | 0.00%             | 2029-10-09      | Fixed         | 6.67%                 | No            |                  2 | On Loan: No      |
| Mobico Group PLC                                                 | Mobico Group PLC                                                                                                             | CUSIP: 000000000<br>LEI: 213800A8IQEMY8PA5X34 | Long             | DBT              | CORP              | GB        |    165000 | PA      | $152494.21    | 0.01%             | 2031-09-26      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| CLEAR CHANNEL OUTDOOR HO                                         | Clear Channel Outdoor Holdings Inc                                                                                           | CUSIP: 18453HAG1<br>LEI: 254900XBEE6V1ENYS150 | Long             | DBT              | CORP              | US        |    200000 | PA      | $206730.40    | 0.01%             | 2031-02-15      | Fixed         | 7.13%                 | No            |                  2 | On Loan: No      |
| PIKE CORP                                                        | Pike Corp                                                                                                                    | CUSIP: 721283AA7<br>LEI: 549300P4EKEP6HK0NC58 | Long             | DBT              | CORP              | US        |    130000 | PA      | $129571.78    | 0.01%             | 2028-09-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| WARNERMEDIA HOLDINGS INC                                         | Warnermedia Holdings Inc                                                                                                     | CUSIP: 55903VBU6<br>LEI: 549300DXR29GD4N0A520 | Long             | DBT              | CORP              | US        |     35000 | PA      | $26075.00     | 0.00%             | 2052-03-15      | Fixed         | 5.14%                 | No            |                  2 | On Loan: No      |
| BOOTS GROUP BIDCO LTD                                            | BOOTS GROUP BIDCO LTD USD TERM LOAN                                                                                          | CUSIP: 09947PAB7<br>LEI: 254900YVLYOVF1PF1N93 | Long             | LON              | CORP              | US        |    110000 | PA      | $110228.80    | 0.01%             | 2032-08-30      | Floating      | 7.70%                 | No            |                  2 | On Loan: No      |
| AMWINS GROUP INC                                                 | AmWINS Group Inc                                                                                                             | CUSIP: 031921AC3<br>LEI: 549300SJE7MUB8NMRG61 | Long             | DBT              | CORP              | US        |     65000 | PA      | $66321.58     | 0.00%             | 2029-02-15      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                       | Fannie Mae Pool                                                                                                              | CUSIP: 3140XGTV1<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   5444597 | PA      | $5214256.95   | 0.24%             | 2051-05-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| YINSON BORONIA PRODUCTIO                                         | Yinson Boronia Production BV                                                                                                 | CUSIP: 98584XAA3<br>LEI: 5493007X12FTT746N678 | Long             | DBT              | CORP              | NL        |    294327 | PA      | $327429.26    | 0.01%             | 2042-07-31      | Fixed         | 8.95%                 | No            |                  2 | On Loan: No      |
| PBF HOLDING CO LLC                                               | PBF Holding Co LLC / PBF Finance Corp                                                                                        | CUSIP: 69318FAL2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    380000 | PA      | $375181.19    | 0.02%             | 2030-09-15      | Fixed         | 7.88%                 | No            |                  2 | On Loan: No      |
| MOLINA HEALTHCARE INC                                            | Molina Healthcare Inc                                                                                                        | CUSIP: 60855RAM2<br>LEI: 549300NQQCEQ46YHZ591 | Long             | DBT              | CORP              | US        |    400000 | PA      | $404443.60    | 0.02%             | 2033-01-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| ENFRAGEN ENERGIA SUR SA                                          | EnfraGen Energia Sur SA / EnfraGen Spain SA / Prime Energia SpA                                                              | CUSIP: 29280LAA1<br>LEI: 2549002TO75PYMY3VY07 | Long             | DBT              | CORP              | ES        |    620000 | PA      | $577220.37    | 0.03%             | 2030-12-30      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                         | Ginnie Mae II Pool                                                                                                           | CUSIP: 3622ADQ27<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    509616 | PA      | $507908.19    | 0.02%             | 2054-12-20      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Exeter Select Automobile Receivables Trust                       | Exeter Select Automobile Receivables Trust 2025-2                                                                            | CUSIP: 30185EAC7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    140000 | PA      | $140898.23    | 0.01%             | 2030-08-15      | Fixed         | 4.43%                 | No            |                  2 | On Loan: No      |
| RECESS HOLDINGS INC                                              | Recess Holdings Inc 2025 Repriced Term Loan                                                                                  | CUSIP: 72811HAJ9<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    248747 | PA      | $249458.28    | 0.01%             | 2030-02-20      | Floating      | 8.07%                 | No            |                  2 | On Loan: No      |
| BMP Trust                                                        | BMP 2024-MF23                                                                                                                | CUSIP: 05593JAC4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1113000 | PA      | $1115434.80   | 0.05%             | 2041-06-15      | Floating      | 5.79%                 | No            |                  2 | On Loan: No      |
| ANGLIAN WATER SERV FIN                                           | Anglian Water Services Financing PLC                                                                                         | CUSIP: 000000000<br>LEI: 213800DL377MH46PDY63 | Long             | DBT              | CORP              | GB        |    310000 | PA      | $428060.87    | 0.02%             | 2031-06-20      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| RWE FINANCE US LLC                                               | RWE Finance US LLC                                                                                                           | CUSIP: 749983AA0<br>LEI: 529900J7MYLKI84UP772 | Long             | DBT              | CORP              | US        |    202000 | PA      | $212210.31    | 0.01%             | 2034-04-16      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| Renaissance Holding Corp.                                        | Renaissance Holding Corp 2024 1st Lien Term Loan                                                                             | CUSIP: 75972JAK0<br>LEI: 549300UKKEC0Y6TXNF09 | Long             | LON              | CORP              | US        |    746203 | PA      | $644375.74    | 0.03%             | 2030-04-05      | Floating      | 8.16%                 | No            |                  2 | On Loan: No      |
| Gloves Buyer Inc                                                 | Gloves Buyer Inc 2025 Term Loan                                                                                              | CUSIP: 37987UAG7<br>LEI: 54930015O0Y94T5H8Z18 | Long             | LON              | CORP              | US        |    500000 | PA      | $484500.00    | 0.02%             | 2032-05-21      | Floating      | 8.16%                 | No            |                  2 | On Loan: No      |
| RADIOLOGY PARTNERS INC                                           | Radiology Partners Inc 2025 Term Loan                                                                                        | CUSIP: 75041EAN2<br>LEI: 549300SFTAG2177WUZ08 | Long             | LON              | CORP              | US        |     45000 | PA      | $44850.15     | 0.00%             | 2032-06-30      | Floating      | 8.50%                 | No            |                  2 | On Loan: No      |
| WHIRLPOOL CORP                                                   | Whirlpool Corp                                                                                                               | CUSIP: 963320BC9<br>LEI: WHENKOULSSK7WUM60H03 | Long             | DBT              | CORP              | US        |     15000 | PA      | $14491.79     | 0.00%             | 2034-03-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| UKRAINE GOVERNMENT                                               | Ukraine Government International Bond                                                                                        | CUSIP: 903724CA8<br>LEI: 6354001WLTJXOMEXPY07 | Long             | DBT              | NUSS              | UA        |    179987 | PA      | $101326.27    | 0.00%             | 2034-02-01      | Variable      | 4.50%                 | No            |                  2 | On Loan: No      |
| LGI HOMES INC                                                    | LGI Homes Inc                                                                                                                | CUSIP: 50187TAH9<br>LEI: 549300W02B4WNV8CV109 | Long             | DBT              | CORP              | US        |     15000 | PA      | $15747.30     | 0.00%             | 2028-12-15      | Fixed         | 8.75%                 | No            |                  2 | On Loan: No      |
| VICI PROPERTIES / NOTE                                           | VICI Properties LP / VICI Note Co Inc                                                                                        | CUSIP: 92564RAB1<br>LEI: N/A                  | Long             | DBT              |  | US        |   1030000 | PA      | $1019855.17   | 0.05%             | 2029-12-01      | Fixed         | 4.63%                 | No            |                  2 | On Loan: No      |
| 1011778 BC / NEW RED FIN                                         | 1011778 BC ULC / New Red Finance Inc                                                                                         | CUSIP: 68245XAT6<br>LEI: N/A                  | Long             | DBT              | CORP              | CA        |    300000 | PA      | $303607.50    | 0.01%             | 2029-09-15      | Fixed         | 5.63%                 | No            |                  2 | On Loan: No      |
| NTT FINANCE CORP                                                 | NTT Finance Corp                                                                                                             | CUSIP: 62954WAS4<br>LEI: 3538007PR116187GD960 | Long             | DBT              | CORP              | JP        |    638000 | PA      | $648254.17    | 0.03%             | 2030-07-16      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| SCANDINAVIAN TOBACCO GRO                                         | Scandinavian Tobacco Group A/S                                                                                               | CUSIP: 000000000<br>LEI: 5299003KG4JS99TRML67 | Long             | DBT              | CORP              | DK        |    165000 | PA      | $201237.65    | 0.01%             | 2029-09-12      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| NETWORK I2I LTD                                                  | Network i2i Ltd                                                                                                              | CUSIP: 64132NAC0<br>LEI: 2549003L8M1FGHLHOX45 | Long             | DBT              | CORP              | MU        |    150000 | PA      | $149002.73    | 0.01%             | 2026-03-03      | Fixed         | 3.98%                 | No            |                  2 | On Loan: No      |
| OMEGA HLTHCARE INVESTORS                                         | Omega Healthcare Investors Inc                                                                                               | CUSIP: 681936BL3<br>LEI: 549300OJ7ENK42CZ8E73 | Long             | DBT              |  | US        |   2000000 | PA      | $1918931.98   | 0.09%             | 2029-10-01      | Fixed         | 3.63%                 | No            |                  2 | On Loan: No      |
| CHS/COMMUNITY HEALTH SYS                                         | CHS/Community Health Systems Inc                                                                                             | CUSIP: 12543DBK5<br>LEI: 5493007X5NC5XI1BB106 | Long             | DBT              | CORP              | US        |    755000 | PA      | $652884.89    | 0.03%             | 2031-02-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| COMMERCIAL METALS CO                                             | Commercial Metals Co                                                                                                         | CUSIP: 201723AP8<br>LEI: 549300OQS2LO07ZJ7N73 | Long             | DBT              | CORP              | US        |    100000 | PA      | $93222.31     | 0.00%             | 2031-02-15      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| Republic of Senegal                                              | Senegal Government International Bond                                                                                        | CUSIP: 81720TAC9<br>LEI: 549300NP14ZLQGWIUZ97 | Long             | DBT              | NUSS              | SN        |    110000 | PA      | $79405.40     | 0.00%             | 2033-05-23      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| Extended Stay America Trust                                      | Extended Stay America Trust 2025-ESH                                                                                         | CUSIP: 30227TAA8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   2500000 | PA      | $2504687.25   | 0.11%             | 2042-10-15      | Floating      | 5.45%                 | No            |                  2 | On Loan: No      |
| HAH GROUP HOLDING CO LLC                                         | HAH Group Holding Co LLC                                                                                                     | CUSIP: 40518JAA7<br>LEI: 254900FFJQHW9R90FL74 | Long             | DBT              | CORP              | US        |    185000 | PA      | $175764.52    | 0.01%             | 2031-10-01      | Fixed         | 9.75%                 | No            |                  2 | On Loan: No      |
| REALTY INCOME CORP                                               | Realty Income Corp                                                                                                           | CUSIP: 000000000<br>LEI: 549300CUWDAUZSH43859 | Long             | DBT              |  | US        |    100000 | PA      | $117752.73    | 0.01%             | 2031-06-20      | Fixed         | 3.38%                 | No            |                  2 | On Loan: No      |
| Chile Government International Bonds                             | Chile Government International Bonds                                                                                         | CUSIP: 168863DQ8<br>LEI: 549300FLZTJM5YJF8D34 | Long             | DBT              | NUSS              | CL        |    150000 | PA      | $92677.50     | 0.00%             | 2061-01-22      | Fixed         | 3.10%                 | No            |                  2 | On Loan: No      |
| Australia Government Bonds                                       | Australia Government Bonds                                                                                                   | CUSIP: 000000000<br>LEI: 213800J6B7JSBDETCB42 | Long             | DBT              | NUSS              | AU        |    600000 | PA      | $334818.85    | 0.02%             | 2032-05-21      | Fixed         | 1.25%                 | No            |                  2 | On Loan: No      |
| CITY FOOTBALL GROUP LIMITED                                      | City Football Group Limited 2024 Term Loan                                                                                   | CUSIP: 17781XAD8<br>LEI: 213800K6VVWALRH9UJ69 | Long             | LON              | CORP              | GB        |    497481 | PA      | $497068.21    | 0.02%             | 2030-07-22      | Floating      | 7.78%                 | No            |                  2 | On Loan: No      |
| FORVIA SE                                                        | Forvia SE                                                                                                                    | CUSIP: 31209DAC9<br>LEI: 969500F0VMZLK2IULV85 | Long             | DBT              | CORP              | FR        |    200000 | PA      | $202911.78    | 0.01%             | 2033-09-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| MKS INC                                                          | MKS Inc                                                                                                                      | CUSIP: 55306NAB0<br>LEI: 549300KEQATBHAGVF505 | Long             | DBT              | CORP              | US        |    167000 | PA      | $182865.00    | 0.01%             | 2030-06-01      | Fixed         | 1.25%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                       | Fannie Mae Pool                                                                                                              | CUSIP: 3140X72U2<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    551462 | PA      | $564916.70    | 0.03%             | 2047-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| COGENT COMMS GRP / FIN                                           | Cogent Communications Group LLC / Cogent Finance Inc                                                                         | CUSIP: 19240CAE3<br>LEI: 549300KFWFYF8Q1U0Y26 | Long             | DBT              | CORP              | US        |     80000 | PA      | $79787.48     | 0.00%             | 2027-06-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| TALLGRASS NRG PRTNR/FIN                                          | Tallgrass Energy Partners LP / Tallgrass Energy Finance Corp                                                                 | CUSIP: 87470LAJ0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    820000 | PA      | $809774.00    | 0.04%             | 2030-12-31      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| UNITI GROUP/CSL CAPITAL                                          | Uniti Group LP / Uniti Group Finance 2019 Inc / CSL Capital LLC                                                              | CUSIP: 91327BAA8<br>LEI: N/A                  | Long             | DBT              |  | US        |    480000 | PA      | $450784.85    | 0.02%             | 2029-02-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| LCH Ltd.                                                         | Long: BOT398000 IRS USD R V 12MSOFR LOT398000_FLO CCPOIS / Short: BOT398000 IRS USD P F  3.50000 LOT398000_FIX CCPOIS        | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | US        |  23779000 | OU      | $-90774.91    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| HAVN Trust                                                       | HAVN Trust 2025-MOB                                                                                                          | CUSIP: 40408XAA9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    270000 | PA      | $270052.38    | 0.01%             | 2027-10-15      | Floating      | 6.00%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                         | Ginnie Mae                                                                                                                   | CUSIP: 21H0206B6<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   5125000 | PA      | $4236446.67   | 0.19%             | 2055-11-20      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| SUBWAY FUNDING LLC                                               | Subway Funding LLC                                                                                                           | CUSIP: 864300AC2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   4962500 | PA      | $5090146.91   | 0.23%             | 2054-07-30      | Fixed         | 6.27%                 | No            |                  2 | On Loan: No      |
| Time Warner Cable LLC                                            | Time Warner Cable LLC                                                                                                        | CUSIP: 88732JAN8<br>LEI: 549300U5NFR7S6E3GM41 | Long             | DBT              | CORP              | US        |   5775000 | PA      | $6310291.28   | 0.29%             | 2038-07-01      | Fixed         | 7.30%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                      | Freddie Mac Pool                                                                                                             | CUSIP: 3132DMUS2<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   8128371 | PA      | $7313545.20   | 0.34%             | 2051-05-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| MORGAN STANLEY                                                   | Morgan Stanley                                                                                                               | CUSIP: 61747YFE0<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |   5220000 | PA      | $5382988.03   | 0.25%             | 2034-04-21      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| LAMB WESTON HLD                                                  | Lamb Weston Holdings Inc                                                                                                     | CUSIP: 513272AD6<br>LEI: 5493005SMYID1D2OY946 | Long             | DBT              | CORP              | US        |    400000 | PA      | $384089.36    | 0.02%             | 2030-01-31      | Fixed         | 4.13%                 | No            |                  2 | On Loan: No      |
| Blackbird Capital Aircraft                                       | Blackbird Capital II Aircraft Lease Ltd                                                                                      | CUSIP: 09229CAA7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1942182 | PA      | $1834723.59   | 0.08%             | 2046-07-15      | Fixed         | 2.44%                 | No            |                  2 | On Loan: No      |
| VAN POOL TRANSPORTATION LLC                                      | Van Pool Transportation LLC 2025 Delayed Draw Term Loan                                                                      | CUSIP: 07363PAC4<br>LEI: 254900EBTYFG24UQEM31 | Long             | LON              | CORP              | US        |     11446 | PA      | $11474.39     | 0.00%             | 2030-08-06      | Floating      | 7.25%                 | No            |                  2 | On Loan: No      |
| BX Trust                                                         | BX Trust 2021-BXMF                                                                                                           | CUSIP: 05609RAA2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   4040130 | PA      | $4035078.82   | 0.18%             | 2026-10-15      | Floating      | 4.90%                 | No            |                  2 | On Loan: No      |
| KINETIK HOLDINGS LP                                              | Kinetik Holdings LP                                                                                                          | CUSIP: 49461MAA8<br>LEI: 549300RD6AJIMYC0HY12 | Long             | DBT              | CORP              | US        |    150000 | PA      | $150872.40    | 0.01%             | 2030-06-15      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| LCH Ltd.                                                         | Long: SOT420000 IRS USD R F  3.75000 LOT420000_FIX CCPOIS / Short: SOT420000 IRS USD P V 12MSOFR LOT420000_FLO CCPOIS        | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | US        |    520000 | OU      | $3932.90      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Cosan Overseas Ltd                                               | Cosan Overseas Ltd                                                                                                           | CUSIP: 000000000<br>LEI: 222100V5GTJGKUH55655 | Long             | DBT              | CORP              | KY        |    200000 | PA      | $200253.59    | 0.01%             | 2025-11-05      | Fixed         | 8.25%                 | No            |                  2 | On Loan: No      |
| AIR COMM CORPORATION LLC                                         | Air Comm Corporation LLC 2025 Delayed Draw Term Loan                                                                         | CUSIP: 82670NAH9<br>LEI: 254900S9ONE06XB1T251 | Long             | LON              | CORP              | US        |     29487 | PA      | $29487.18     | 0.00%             | 2031-12-11      | Floating      | 6.74%                 | No            |                  2 | On Loan: No      |
| MATIV HOLDINGS INC                                               | Mativ Holdings Inc                                                                                                           | CUSIP: 808541AC0<br>LEI: 549300Z1FU4IDULG1R21 | Long             | DBT              | CORP              | US        |    135000 | PA      | $133658.00    | 0.01%             | 2029-10-01      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| BARCLAYS PLC                                                     | Barclays PLC                                                                                                                 | CUSIP: 06738EBY0<br>LEI: 213800LBQA1Y9L22JB70 | Long             | DBT              | CORP              | GB        |   6190000 | PA      | $6323023.04   | 0.29%             | 2028-08-09      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Bank of America Auto Trust                                       | BofA Auto Trust 2025-1                                                                                                       | CUSIP: 05594BAD8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    300000 | PA      | $301917.45    | 0.01%             | 2029-11-20      | Fixed         | 4.35%                 | No            |                  2 | On Loan: No      |
| BANK OF AMERICA CORP                                             | Bank of America Corp                                                                                                         | CUSIP: 06051GLC1<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |   5285000 | PA      | $5507493.95   | 0.25%             | 2028-11-10      | Fixed         | 6.20%                 | No            |                  2 | On Loan: No      |
| BX Trust                                                         | BX Commercial Mortgage Trust 2020-VIVA                                                                                       | CUSIP: 12433XAG4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    290000 | PA      | $267336.18    | 0.01%             | 2044-03-11      | Variable      | 3.67%                 | No            |                  2 | On Loan: No      |
| IVANHOE MINES LTD                                                | Ivanhoe Mines Ltd                                                                                                            | CUSIP: 46579RAE4<br>LEI: 5299006XZISURYIA4G32 | Long             | DBT              | CORP              | CA        |    235000 | PA      | $242711.53    | 0.01%             | 2030-01-23      | Fixed         | 7.88%                 | No            |                  2 | On Loan: No      |
| PARK RIVER HOLDINGS INC                                          | PARK RIVER HOLDINGS INC 2025 TERM LOAN                                                                                       | CUSIP: 70082HAE6<br>LEI: 254900PGY077KWCROT75 | Long             | LON              | CORP              | US        |    130000 | PA      | $129967.50    | 0.01%             | 2031-09-25      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| GFL ENVIRONMENTAL INC                                            | GFL Environmental Inc 2025 Term Loan B                                                                                       | CUSIP: 36257SAB8<br>LEI: 254900PGDQWC19PRP053 | Long             | LON              | CORP              | US        |    500000 | PA      | $499345.00    | 0.02%             | 2032-03-03      | Floating      | 6.67%                 | No            |                  2 | On Loan: No      |
| ALCOA NEDERLAND HOLDING                                          | Alcoa Nederland Holding BV                                                                                                   | CUSIP: 013822AH4<br>LEI: 5493000UL1QLQLT1VQ42 | Long             | DBT              | CORP              | NL        |    500000 | PA      | $525591.00    | 0.02%             | 2031-03-15      | Fixed         | 7.13%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                       | Fannie Mae Pool                                                                                                              | CUSIP: 3140XGP86<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   2200707 | PA      | $2040485.13   | 0.09%             | 2050-08-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| KRONOS ACQUISITION HOLDI                                         | Kronos Acquisition Holdings Inc                                                                                              | CUSIP: 50106GAG7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    210000 | PA      | $162786.54    | 0.01%             | 2031-06-30      | Fixed         | 8.25%                 | No            |                  2 | On Loan: No      |
| SHIFT4 PAYMENTS LLC                                              | Shift4 Payments LLC 2025 Term Loan                                                                                           | CUSIP: 000000000<br>LEI: 254900GTEMR7L40VPI74 | Long             | LON              | CORP              | US        |     35000 | PA      | $35247.80     | 0.00%             | 2032-06-30      | Floating      | 6.50%                 | No            |                  2 | On Loan: No      |
| RITHM CAPITAL CORP                                               | Rithm Capital Corp                                                                                                           | CUSIP: 64828TAB8<br>LEI: 549300WNTHGEO5LP2G31 | Long             | DBT              |  | US        |    100000 | PA      | $102356.20    | 0.00%             | 2029-04-01      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| METALSA SA DE CV                                                 | Metalsa Sapi De Cv                                                                                                           | CUSIP: 59132VAB4<br>LEI: 549300F2FONGJR575V67 | Long             | DBT              | CORP              | MX        |    200000 | PA      | $177500.00    | 0.01%             | 2031-05-04      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| UBER TECHNOLOGIES INC                                            | Uber Technologies Inc                                                                                                        | CUSIP: 90353TAU4<br>LEI: 549300B2FTG34FILDR98 | Long             | DBT              | CORP              | US        |    697000 | PA      | $690676.96    | 0.03%             | 2035-09-15      | Fixed         | 4.80%                 | No            |                  2 | On Loan: No      |
| BX Trust                                                         | BX Trust 2021-SDMF                                                                                                           | CUSIP: 12434CAQ7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    299736 | PA      | $298612.16    | 0.01%             | 2034-09-15      | Floating      | 6.20%                 | No            |                  2 | On Loan: No      |
| ORGANON & CO/ORGANON FOR                                         | Organon & Co / Organon Foreign Debt Co-Issuer BV                                                                             | CUSIP: 68622FAB7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    155000 | PA      | $143592.16    | 0.01%             | 2034-05-15      | Fixed         | 7.88%                 | No            |                  2 | On Loan: No      |
| 1011778 BC Unlimited Liability Company                           | 1011778 BC Unlimited Liability Company 2024 Term Loan B6                                                                     | CUSIP: 000000000<br>LEI: 549300RHSHNRWI5LLA86 | Long             | LON              | CORP              | CA        |    746222 | PA      | $743109.92    | 0.03%             | 2030-09-20      | Floating      | 5.91%                 | No            |                  2 | On Loan: No      |
| SAUDI INTERNATIONAL BOND                                         | Saudi Government International Bond                                                                                          | CUSIP: 80413TAC3<br>LEI: 635400FMICXSM3SI3H65 | Long             | DBT              | NUSS              | SA        |    100000 | PA      | $86750.79     | 0.00%             | 2046-10-26      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| ESKOM HOLDINGS                                                   | Eskom Holdings                                                                                                               | CUSIP: 29646AAC0<br>LEI: 3789001900ED06F65111 | Long             | DBT              | CORP              | ZA        |    250000 | PA      | $256630.32    | 0.01%             | 2028-08-10      | Fixed         | 6.35%                 | No            |                  2 | On Loan: No      |
| XPLR INFRAST OPERATING                                           | XPLR Infrastructure Operating Partners LP                                                                                    | CUSIP: 65342QAM4<br>LEI: 549300KJEC5IUVJWR786 | Long             | DBT              | CORP              | US        |     30000 | PA      | $30801.72     | 0.00%             | 2029-01-15      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| CD&R Hydra Buyer Inc                                             | CD&R Hydra Buyer Inc 2024 Term Loan B                                                                                        | CUSIP: 12508KAJ6<br>LEI: 549300HW5C2VGPZCHL57 | Long             | LON              | CORP              | US        |    497475 | PA      | $493952.62    | 0.02%             | 2031-03-25      | Floating      | 8.26%                 | No            |                  2 | On Loan: No      |
| LADDER CAP FIN LLLP/CORP                                         | Ladder Capital Finance Holdings LLLP / Ladder Capital Finance Corp                                                           | CUSIP: 505742AP1<br>LEI: N/A                  | Long             | DBT              |  | US        |    100000 | PA      | $98129.11     | 0.00%             | 2029-06-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| BX Trust                                                         | BX Commercial Mortgage Trust 2021-VOLT                                                                                       | CUSIP: 05609VAN5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    164701 | PA      | $164396.08    | 0.01%             | 2036-09-15      | Floating      | 6.26%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                       | Fannie Mae Pool                                                                                                              | CUSIP: 3140KYPB4<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   1931204 | PA      | $1582464.09   | 0.07%             | 2051-02-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| Kingdom of Jordan                                                | Jordan Government International Bond                                                                                         | CUSIP: 418097AJ0<br>LEI: 5493000JZ4MYPVMBVN50 | Long             | DBT              | NUSS              | JO        |     50000 | PA      | $47844.53     | 0.00%             | 2047-10-10      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| LINDBLAD EXPEDITIONS LLC                                         | Lindblad Expeditions LLC                                                                                                     | CUSIP: 53523LAB6<br>LEI: 549300MPUWOG67Y2R254 | Long             | DBT              | CORP              | US        |     80000 | PA      | $81543.20     | 0.00%             | 2030-09-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| PEER HOLDING III BV                                              | PEER HOLDING III BV 2025 USD TERM LOAN B                                                                                     | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |     85000 | PA      | $85000.00     | 0.00%             | 2032-09-27      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| United States Treasury                                           | U.S. Treasury Bonds                                                                                                          | CUSIP: 912810UJ5<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  81910000 | PA      | $82421937.50  | 3.78%             | 2045-02-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| WESSEX WATER SERVS FIN                                           | Wessex Water Services Finance PLC                                                                                            | CUSIP: 000000000<br>LEI: 213800B9BFRCA1YMEI57 | Long             | DBT              | CORP              | GB        |    170000 | PA      | $230932.55    | 0.01%             | 2034-09-19      | Fixed         | 6.13%                 | No            |                  2 | On Loan: No      |
| PACIFICORP                                                       | PacifiCorp                                                                                                                   | CUSIP: 695114DF2<br>LEI: SGY07Y7FNYBNLM6Z1M11 | Long             | DBT              | CORP              | US        |    195000 | PA      | $205300.42    | 0.01%             | 2055-09-15      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| ANTOFAGASTA PLC                                                  | Antofagasta PLC                                                                                                              | CUSIP: 03718NAA4<br>LEI: 213800MY6QVH4FVLD628 | Long             | DBT              | CORP              | GB        |    200000 | PA      | $181262.00    | 0.01%             | 2030-10-14      | Fixed         | 2.38%                 | No            |                  2 | On Loan: No      |
| RWE FINANCE US LLC                                               | RWE Finance US LLC                                                                                                           | CUSIP: 749983AC6<br>LEI: 529900J7MYLKI84UP772 | Long             | DBT              | CORP              | US        |    320000 | PA      | $315638.46    | 0.01%             | 2035-09-18      | Fixed         | 5.13%                 | No            |                  2 | On Loan: No      |
| JPMorgan Securities LLC                                          | Long: LKG876000 CDS EUR R V 03MEVENT LKG876000_PRO CORPORATE / Short: LKG876000 CDS EUR P F  1.00000 LKG876000_FEE CORPORATE | CUSIP: 000000000<br>LEI: ZBUT11V806EZRVTWT807 | N/A              | DCR              |  | US        |    250000 | OU      | $1779.68      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| BX Trust                                                         | BX Commercial Mortgage Trust 2025-SPOT                                                                                       | CUSIP: 12433FAG3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    279533 | PA      | $279532.77    | 0.01%             | 2040-04-15      | Floating      | 6.64%                 | No            |                  2 | On Loan: No      |
| Methanex Corp                                                    | Methanex Corp                                                                                                                | CUSIP: 59151KAJ7<br>LEI: 549300TSJHRXT9QXRD13 | Long             | DBT              | CORP              | CA        |    300000 | PA      | $256141.77    | 0.01%             | 2044-12-01      | Fixed         | 5.65%                 | No            |                  2 | On Loan: No      |
| Olaplex Inc                                                      | Olaplex Inc 2022 Term Loan                                                                                                   | CUSIP: 67936UAB7<br>LEI: 254900QYCAW2BUUZ1O97 | Long             | LON              | CORP              | US        |     45000 | PA      | $43717.50     | 0.00%             | 2029-02-23      | Floating      | 7.80%                 | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS GROUP INC                                          | Goldman Sachs Group Inc/The                                                                                                  | CUSIP: 38141GA46<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | DBT              | CORP              | US        |   8295000 | PA      | $8827367.63   | 0.40%             | 2029-10-24      | Fixed         | 6.48%                 | No            |                  2 | On Loan: No      |
| BX Trust                                                         | BX Trust 2024-VLT4                                                                                                           | CUSIP: 05612TAL9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    500000 | PA      | $502158.00    | 0.02%             | 2041-06-15      | Floating      | 8.09%                 | No            |                  2 | On Loan: No      |
| Genesee & Wyoming Inc (New)                                      | Genesee & Wyoming Inc (New) 2024 Term Loan                                                                                   | CUSIP: 37156QAZ9<br>LEI: G617XSG94Z7G0RMW3L02 | Long             | LON              | CORP              | US        |    497487 | PA      | $495358.19    | 0.02%             | 2031-04-10      | Floating      | 5.75%                 | No            |                  2 | On Loan: No      |
| ING GROEP NV                                                     | ING Groep NV                                                                                                                 | CUSIP: 000000000<br>LEI: 549300NYKK9MWM7GGW15 | Long             | DBT              | CORP              | NL        |    300000 | PA      | $349541.02    | 0.02%             | 2031-08-17      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| HELIOS SOFT/ION CORP SOL                                         | Helios Software Holdings Inc / ION Corporate Solutions Finance Sarl                                                          | CUSIP: 42329HAB4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    100000 | PA      | $103645.70    | 0.00%             | 2029-05-01      | Fixed         | 8.75%                 | No            |                  2 | On Loan: No      |
| ENERGY TRANSFER LP                                               | Energy Transfer LP                                                                                                           | CUSIP: 29273VBH2<br>LEI: MTLVN9N7JE8MIBIJ1H73 | Long             | DBT              | CORP              | US        |     14000 | PA      | $13974.77     | 0.00%             | 2056-02-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| GFL ENVIRONMENTAL INC                                            | GFL Environmental Inc                                                                                                        | CUSIP: 36168QAM6<br>LEI: 894500E7NLBY9VZRT696 | Long             | DBT              | CORP              | CA        |    100000 | PA      | $97539.32     | 0.00%             | 2028-09-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Brazil Government International Bonds                            | Brazil Government International Bonds                                                                                        | CUSIP: 105756BK5<br>LEI: 254900ZFY40OYEADAP90 | Long             | DBT              | NUSS              | BR        |    100000 | PA      | $109895.00    | 0.01%             | 2037-01-20      | Fixed         | 7.13%                 | No            |                  2 | On Loan: No      |
| POST HOLDINGS INC                                                | Post Holdings Inc                                                                                                            | CUSIP: 737446AU8<br>LEI: JM1I5YUAURL6DC8N1468 | Long             | DBT              | CORP              | US        |    200000 | PA      | $205615.65    | 0.01%             | 2032-02-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| QBE INSURANCE GROUP LTD                                          | QBE Insurance Group Ltd                                                                                                      | CUSIP: 000000000<br>LEI: 549300D2FBW76FPUSG65 | Long             | DBT              | CORP              | AU        |    174000 | PA      | $217732.59    | 0.01%             | 2038-09-13      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| CHARTER COMM OPT LLC/CAP                                         | Charter Communications Operating LLC / Charter Communications Operating Capital                                              | CUSIP: 161175AZ7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   4140000 | PA      | $4337185.96   | 0.20%             | 2035-10-23      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| OMAN GOV INTERNTL BOND                                           | Oman Government International Bond                                                                                           | CUSIP: 682051AJ6<br>LEI: 549300SZ20F0QTKNQC75 | Long             | DBT              | NUSS              | OM        |    125000 | PA      | $137204.08    | 0.01%             | 2048-01-17      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                      | Freddie Mac Pool                                                                                                             | CUSIP: 3132DNFT5<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   1331642 | PA      | $1198687.55   | 0.05%             | 2050-07-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                       | Fannie Mae Pool                                                                                                              | CUSIP: 3140L2PU1<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   2276512 | PA      | $1865568.72   | 0.09%             | 2051-02-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| Petroleos Mexicanos                                              | Petroleos Mexicanos                                                                                                          | CUSIP: 71654QDD1<br>LEI: 549300CAZKPF4HKMPX17 | Long             | DBT              | CORP              | MX        |   9870000 | PA      | $8973962.91   | 0.41%             | 2050-01-23      | Fixed         | 7.69%                 | No            |                  2 | On Loan: No      |
| BX Trust                                                         | BX Commercial Mortgage Trust 2022-LP2                                                                                        | CUSIP: 05610HAE3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    175000 | PA      | $174781.13    | 0.01%             | 2039-02-15      | Floating      | 5.71%                 | No            |                  2 | On Loan: No      |
| JPMorgan Securities LLC                                          | Long: LKH604000 CDS EUR R V 03MEVENT LKH604000_PRO CORPORATE / Short: LKH604000 CDS EUR P F  5.00000 LKH604000_FEE CORPORATE | CUSIP: 000000000<br>LEI: ZBUT11V806EZRVTWT807 | N/A              | DCR              |  | US        |    290000 | OU      | $-71024.42    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| PEER HOLDING III BV                                              | Peer Holding III BV 2025 USD Term Loan B5B                                                                                   | CUSIP: 000000000<br>LEI: 7245002S0K5Q59JCVQ03 | Long             | LON              | CORP              | NL        |     85000 | PA      | $85017.85     | 0.00%             | 2031-07-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| SPA HOLDINGS 3 OY                                                | Spa Holdings 3 Oy 2025 USD Term Loan B                                                                                       | CUSIP: 78475BAB3<br>LEI: 743700UEY0YM039XN974 | Long             | LON              | CORP              | FI        |    160000 | PA      | $159800.00    | 0.01%             | 2030-05-23      | Floating      | 8.51%                 | No            |                  2 | On Loan: No      |
| CORPORACION INMOBILIARIA                                         | Corp Inmobiliaria Vesta SAB de CV                                                                                            | CUSIP: 21989DAB8<br>LEI: 4469000001BIRIFZJ959 | Long             | DBT              | CORP              | MX        |    200000 | PA      | $202100.00    | 0.01%             | 2033-01-30      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Canada Government Bonds                                          | Canada Government Bonds                                                                                                      | CUSIP: 135087N26<br>LEI: 4BFD7AQU0A75QLAHK410 | Long             | DBT              | NUSS              | CA        |   2370000 | PA      | $1571331.97   | 0.07%             | 2031-12-01      | Fixed         | 1.50%                 | No            |                  2 | On Loan: No      |
| ORLEN SA                                                         | ORLEN SA                                                                                                                     | CUSIP: 68666UAA3<br>LEI: 259400VVMM70CQREJT74 | Long             | DBT              | CORP              | PL        |    200000 | PA      | $209158.85    | 0.01%             | 2035-01-30      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| BEACON MOBILITY CORP                                             | Beacon Mobility Corp                                                                                                         | CUSIP: 073644AA4<br>LEI: 254900EBTYFG24UQEM31 | Long             | DBT              | CORP              | US        |    115000 | PA      | $119560.79    | 0.01%             | 2030-08-01      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| STARWOOD PROPERTY TRUST                                          | Starwood Property Trust Inc                                                                                                  | CUSIP: 85571BBE4<br>LEI: BUGSFQZERKRBFWIG5267 | Long             | DBT              |  | US        |     65000 | PA      | $67142.86     | 0.00%             | 2030-10-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| IMPERIAL BRANDS FIN NETH                                         | Imperial Brands Finance Netherlands BV                                                                                       | CUSIP: 000000000<br>LEI: 724500GIEFJOBWGD0272 | Long             | DBT              | CORP              | NL        |    245000 | PA      | $312155.71    | 0.01%             | 2031-02-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| JPMORGAN CHASE & CO                                              | JPMorgan Chase & Co                                                                                                          | CUSIP: 46647PEC6<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | DBT              | CORP              | US        |   2175000 | PA      | $2260642.02   | 0.10%             | 2035-01-23      | Fixed         | 5.34%                 | No            |                  2 | On Loan: No      |
| UMBS, TBA                                                        | Uniform Mortgage-Backed Security, TBA                                                                                        | CUSIP: 01F0626B2<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |    425000 | PA      | $439470.29    | 0.02%             | 2054-11-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| NEWELL BRANDS INC                                                | Newell Brands Inc                                                                                                            | CUSIP: 651229BE5<br>LEI: 549300LWGYFM1TVO1Z12 | Long             | DBT              | CORP              | US        |    200000 | PA      | $197381.59    | 0.01%             | 2032-05-15      | Fixed         | 6.63%                 | No            |                  2 | On Loan: No      |
| Turkiye Government International Bonds                           | Turkiye Government International Bonds                                                                                       | CUSIP: 900123CB4<br>LEI: 5493000PCHOG3B6S3Q85 | Long             | DBT              | NUSS              | TR        |    200000 | PA      | $148268.24    | 0.01%             | 2043-04-16      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| BX Trust                                                         | BX Commercial Mortgage Trust 2021-SOAR                                                                                       | CUSIP: 05608WAQ7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    504124 | PA      | $504124.24    | 0.02%             | 2038-06-15      | Floating      | 6.62%                 | No            |                  2 | On Loan: No      |
| OLYMPUS WTR US HLDG CORP                                         | Olympus Water US Holding Corp                                                                                                | CUSIP: 681639AB6<br>LEI: 549300YU2GGVCBN3MY89 | Long             | DBT              | CORP              | US        |    300000 | PA      | $291298.77    | 0.01%             | 2029-10-01      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| VISTA MANAGEMENT HOLDING INC                                     | Vista Management Holding Inc 2025 Term Loan B                                                                                | CUSIP: 92842EAB4<br>LEI: 5299005VABKD28UWHI65 | Long             | LON              | CORP              | US        |    250000 | PA      | $251355.00    | 0.01%             | 2031-04-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| EXELON CORP                                                      | Exelon Corp                                                                                                                  | CUSIP: 30161NBN0<br>LEI: 3SOUA6IRML7435B56G12 | Long             | DBT              | CORP              | US        |   1115000 | PA      | $1157255.89   | 0.05%             | 2034-03-15      | Fixed         | 5.45%                 | No            |                  2 | On Loan: No      |
| Osmose Utilities Services Inc                                    | Osmose Utilities Services Inc Term Loan                                                                                      | CUSIP: 68835HAH3<br>LEI: 549300FSLVHLFZ3S0D82 | Long             | LON              | CORP              | US        |    129662 | PA      | $122612.60    | 0.01%             | 2028-06-23      | Floating      | 7.53%                 | No            |                  2 | On Loan: No      |
| ACRISURE LLC / FIN INC                                           | Acrisure LLC / Acrisure Finance Inc                                                                                          | CUSIP: 004961AA6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     65000 | PA      | $66929.46     | 0.00%             | 2032-07-01      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| HARVEST MIDSTREAM I LP                                           | Harvest Midstream I LP                                                                                                       | CUSIP: 417558AA1<br>LEI: 549300DW5M17KJOXCY66 | Long             | DBT              | CORP              | US        |    200000 | PA      | $202152.20    | 0.01%             | 2028-09-01      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| DEUTSCHE EUROSHOP                                                | Deutsche EuroShop AG                                                                                                         | CUSIP: 000000000<br>LEI: 529900Y9QTEFHFEKQ736 | Long             | DBT              | CORP              | DE        |    100000 | PA      | $118345.92    | 0.01%             | 2030-10-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| AXON ENTERPRISE INC                                              | Axon Enterprise Inc                                                                                                          | CUSIP: 05464CAD3<br>LEI: 549300QP2IEEGFE16681 | Long             | DBT              | CORP              | US        |    200000 | PA      | $205859.20    | 0.01%             | 2033-03-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| CZECHOSLOVAK GROUP                                               | Czechoslovak Group AS                                                                                                        | CUSIP: 000000000<br>LEI: 315700SWFD7G70AVG768 | Long             | DBT              | CORP              | CZ        |    200000 | PA      | $206038.60    | 0.01%             | 2031-01-10      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| TKC HOLDINGS INC                                                 | TKC Holdings Inc                                                                                                             | CUSIP: 87256YAC7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    250000 | PA      | $252141.47    | 0.01%             | 2028-05-15      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| ADAPTHEALTH LLC                                                  | AdaptHealth LLC                                                                                                              | CUSIP: 00653VAE1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    150000 | PA      | $143043.50    | 0.01%             | 2030-03-01      | Fixed         | 5.13%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                       | Fannie Mae Pool                                                                                                              | CUSIP: 3140X9XJ9<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   1811626 | PA      | $1885080.29   | 0.09%             | 2044-05-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| CAESARS ENTERTAIN INC                                            | Caesars Entertainment Inc                                                                                                    | CUSIP: 12769GAC4<br>LEI: 549300FA4CTCW903Y781 | Long             | DBT              | CORP              | US        |    250000 | PA      | $254997.00    | 0.01%             | 2032-02-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| EDISON INTERNATIONAL                                             | Edison International                                                                                                         | CUSIP: 281020AZ0<br>LEI: 549300I7ROF15MAEVP56 | Long             | DBT              | CORP              | US        |    150000 | PA      | $152832.45    | 0.01%             | 2054-06-15      | Fixed         | 7.88%                 | No            |                  2 | On Loan: No      |
| GENESEE & WYOMING INC                                            | Genesee & Wyoming Inc                                                                                                        | CUSIP: 371559AB1<br>LEI: G617XSG94Z7G0RMW3L02 | Long             | DBT              | CORP              | US        |    300000 | PA      | $304842.60    | 0.01%             | 2032-04-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| GRUBHUB HOLDINGS INC                                             | GrubHub Holdings Inc                                                                                                         | CUSIP: 40010PAC2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     39005 | PA      | $38989.00     | 0.00%             | 2030-07-31      | Fixed         | 13.00%                | No            |                  2 | On Loan: No      |
| HOWARD MIDSTREAM ENERGY                                          | Howard Midstream Energy Partners LLC                                                                                         | CUSIP: 442722AC8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    100000 | PA      | $103802.50    | 0.00%             | 2032-07-15      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| Consolidated Energy Finance SA                                   | Consolidated Energy Finance SA 2024 Term Loan B                                                                              | CUSIP: 000000000<br>LEI: 549300PUNIS0USNSL750 | Long             | LON              | CORP              | LU        |     29848 | PA      | $27839.08     | 0.00%             | 2030-11-15      | Floating      | 8.66%                 | No            |                  2 | On Loan: No      |
| TRANSOCEAN AQUILA LTD                                            | Transocean Aquila Ltd                                                                                                        | CUSIP: 893790AA3<br>LEI: N/A                  | Long             | DBT              | CORP              | KY        |    122923 | PA      | $126441.88    | 0.01%             | 2028-09-30      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| CQP HOLDCO LP/BIP-V CHIN                                         | CQP Holdco LP / BIP-V Chinook Holdco LLC                                                                                     | CUSIP: 12657NAB6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    250000 | PA      | $271300.00    | 0.01%             | 2033-12-15      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| Dynasty Acquisition Co Inc                                       | Dynasty Acquisition Co Inc 2024 1st Lien Term Loan B1                                                                        | CUSIP: 26812CAN6<br>LEI: 549300L1RCRPOAUCB870 | Long             | LON              | CORP              | US        |    360407 | PA      | $360388.54    | 0.02%             | 2031-10-31      | Floating      | 6.16%                 | No            |                  2 | On Loan: No      |
| ROCKET COS INC                                                   | Rocket Cos Inc                                                                                                               | CUSIP: 77311WAA9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    170000 | PA      | $174474.40    | 0.01%             | 2030-08-01      | Fixed         | 6.13%                 | No            |                  2 | On Loan: No      |
| Citibank NA                                                      | LJT035000 SWAPTION                                                                                                           | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DIR              |  | US        |   3000000 | NC      | $98556.69     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| MOHEGAN TRIBAL / MS DIG                                          | Mohegan Tribal Gaming Authority / MS Digital Entertainment Holdings LLC                                                      | CUSIP: 60832QAA8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    105000 | PA      | $109099.20    | 0.00%             | 2030-04-15      | Fixed         | 8.25%                 | No            |                  2 | On Loan: No      |
| CFC BIDCO 2022 LTD                                               | CFC Bidco 2022 Ltd Term Loan B                                                                                               | CUSIP: 12531JAB7<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    180000 | PA      | $171450.00    | 0.01%             | 2032-07-01      | Floating      | 8.04%                 | No            |                  2 | On Loan: No      |
| ATP TOW/ANDEAN TELECOM                                           | ATP Tower Holdings / Andean Telecom Partners Chile SpA / Andean Tower Partners C                                             | CUSIP: 00193BAA0<br>LEI: N/A                  | Long             | DBT              | CORP              | XX        |    150000 | PA      | $154378.20    | 0.01%             | 2030-02-03      | Fixed         | 7.88%                 | No            |                  2 | On Loan: No      |
| ROGERS COMMUNICATIONS IN                                         | Rogers Communications Inc                                                                                                    | CUSIP: 775109DH1<br>LEI: 5493000M6Z4XFIP6PF03 | Long             | DBT              | CORP              | CA        |    100000 | PA      | $106016.31    | 0.00%             | 2055-04-15      | Fixed         | 7.13%                 | No            |                  2 | On Loan: No      |
| United States Treasury                                           | U.S. Treasury Notes                                                                                                          | CUSIP: 91282CJX0<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   1015000 | PA      | $1025586.14   | 0.05%             | 2031-01-31      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                       | Fannie Mae Pool                                                                                                              | CUSIP: 3140X8DY0<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   2922920 | PA      | $2747949.79   | 0.13%             | 2048-01-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                      | Freddie Mac REMICS                                                                                                           | CUSIP: 3137FU4N1<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    896762 | PA      | $843666.80    | 0.04%             | 2045-01-25      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                       | Fannie Mae Pool                                                                                                              | CUSIP: 3140XMLP9<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   2937774 | PA      | $2934595.12   | 0.13%             | 2050-01-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| DAVITA INC                                                       | DaVita Inc                                                                                                                   | CUSIP: 23918KAW8<br>LEI: M2XHYMU3TZNEZURC6H66 | Long             | DBT              | CORP              | US        |    250000 | PA      | $258259.00    | 0.01%             | 2032-09-01      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| CHS/COMMUNITY HEALTH SYS                                         | CHS/Community Health Systems Inc                                                                                             | CUSIP: 12543DBJ8<br>LEI: 5493007X5NC5XI1BB106 | Long             | DBT              | CORP              | US        |    250000 | PA      | $198750.00    | 0.01%             | 2029-04-15      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| SANDISK CORP                                                     | Sandisk Corp Term Loan B                                                                                                     | CUSIP: 80004YAC7<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    375000 | PA      | $375236.26    | 0.02%             | 2032-02-20      | Floating      | 7.14%                 | No            |                  2 | On Loan: No      |
| LOGICOR FINANCING SARL                                           | Logicor Financing Sarl                                                                                                       | CUSIP: 000000000<br>LEI: 254900IS16Q1A2TQFN22 | Long             | DBT              | CORP              | LU        |    305000 | PA      | $333353.31    | 0.02%             | 2030-01-17      | Fixed         | 1.63%                 | No            |                  2 | On Loan: No      |
| WALKER & DUNLOP INC                                              | Walker & Dunlop Inc                                                                                                          | CUSIP: 93148PAA0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    100000 | PA      | $102264.67    | 0.00%             | 2033-04-01      | Fixed         | 6.63%                 | No            |                  2 | On Loan: No      |
| JP Morgan Mortgage Trust                                         | JP Morgan Mortgage Trust Series 2025-NQM2                                                                                    | CUSIP: 46590SAC1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    289102 | PA      | $292020.92    | 0.01%             | 2065-09-25      | Variable      | 5.57%                 | No            |                  2 | On Loan: No      |
| VERISK ANALYTICS INC                                             | Verisk Analytics Inc                                                                                                         | CUSIP: 92345YAM8<br>LEI: 549300I1YSWNIRKBWP67 | Long             | DBT              | CORP              | US        |    444000 | PA      | $445332.94    | 0.02%             | 2030-08-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Starwood Commercial Mortgage Trust                               | STWD 2021-LIH Mortgage Trust                                                                                                 | CUSIP: 78486EAQ1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    100000 | PA      | $99874.98     | 0.00%             | 2036-11-15      | Floating      | 7.17%                 | No            |                  2 | On Loan: No      |
| RADIOLOGY PARTNERS INC                                           | Radiology Partners Inc                                                                                                       | CUSIP: 75041VAE4<br>LEI: 549300SFTAG2177WUZ08 | Long             | DBT              | CORP              | US        |     65000 | PA      | $67264.36     | 0.00%             | 2032-07-15      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                       | Fannie Mae REMICS                                                                                                            | CUSIP: 3136BNY75<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   2249151 | PA      | $2221274.27   | 0.10%             | 2052-09-25      | Floating      | 5.16%                 | No            |                  2 | On Loan: No      |
| Rand Parent, LLC                                                 | Rand Parent LLC 2025 Term Loan B                                                                                             | CUSIP: 75223LAD8<br>LEI: N/A                  | Long             | LON              | CORP              | US        |     84824 | PA      | $84384.73     | 0.00%             | 2030-03-18      | Floating      | 7.00%                 | No            |                  2 | On Loan: No      |
| CANACOL ENERGY LTD                                               | Canacol Energy Ltd                                                                                                           | CUSIP: 134808AD6<br>LEI: 549300X5MNRWPMSM9N14 | Long             | DBT              | CORP              | CA        |    530000 | PA      | $182187.50    | 0.01%             | 2028-11-24      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| WESCO DISTRIBUTION INC                                           | WESCO Distribution Inc                                                                                                       | CUSIP: 95081QAS3<br>LEI: 549300I2CEZJG9N4AH67 | Long             | DBT              | CORP              | US        |    200000 | PA      | $207325.64    | 0.01%             | 2033-03-15      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| CARLSBERG BREWERIES A/S                                          | Carlsberg Breweries A/S                                                                                                      | CUSIP: 000000000<br>LEI: 5493008YL42784DMWN61 | Long             | DBT              | CORP              | DK        |    175000 | PA      | $206052.11    | 0.01%             | 2032-02-28      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| AMSTED INDUSTRIES                                                | Amsted Industries Inc                                                                                                        | CUSIP: 032177AK3<br>LEI: N2VLGYMEEBIU3PFSUY86 | Long             | DBT              | CORP              | US        |    135000 | PA      | $138561.30    | 0.01%             | 2033-03-15      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| United States Treasury                                           | U.S. Treasury Notes                                                                                                          | CUSIP: 91282CNC1<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  41735000 | PA      | $42119744.53  | 1.93%             | 2035-05-15      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| Bundesrepublik Deutschland Bundesanleihe                         | Bundesrepublik Deutschland Bundesanleihe                                                                                     | CUSIP: 000000000<br>LEI: 529900AQBND3S6YJLY83 | Long             | DBT              | NUSS              | DE        |    390000 | PA      | $416331.29    | 0.02%             | 2044-07-04      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                      | Freddie Mac Pool                                                                                                             | CUSIP: 3132CXLF7<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   7537176 | PA      | $6968995.38   | 0.32%             | 2037-01-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| TENET HEALTHCARE CORP                                            | Tenet Healthcare Corp                                                                                                        | CUSIP: 88033GDM9<br>LEI: 0W9AIBT6U6ADJ2I8HK17 | Long             | DBT              | CORP              | US        |    145000 | PA      | $141611.39    | 0.01%             | 2029-06-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| Saudi Arabian Oil Co                                             | Saudi Arabian Oil Co                                                                                                         | CUSIP: 80414L2D6<br>LEI: 5586006WD91QHB7J4X50 | Long             | DBT              | CORP              | SA        |    300000 | PA      | $293093.40    | 0.01%             | 2029-04-16      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| AMRIZE FINANCE US LLC                                            | Amrize Finance US LLC                                                                                                        | CUSIP: 43475RAB2<br>LEI: 529900FB2F1WKLFNGY62 | Long             | DBT              | CORP              | US        |   1250000 | PA      | $1264588.76   | 0.06%             | 2028-04-07      | Fixed         | 4.70%                 | No            |                  2 | On Loan: No      |
| MODIVCARE INC                                                    | Modivcare Inc 2024 Term Loan B                                                                                               | CUSIP: 60783LAC4<br>LEI: 549300EFZIFW7F7I0Q28 | Long             | LON              | CORP              | US        |     99749 | PA      | $44887.19     | 0.00%             | 2031-07-01      | Floating      | 6.00%                 | No            |                  2 | On Loan: No      |
| CMG MEDIA CORPORATION                                            | CMG Media Corporation 2024 Term Loan                                                                                         | CUSIP: 88145LAF1<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    910292 | PA      | $868701.13    | 0.04%             | 2029-06-18      | Floating      | 7.60%                 | No            |                  2 | On Loan: No      |
| ENTEGRIS INC                                                     | Entegris Inc                                                                                                                 | CUSIP: 29365BAB9<br>LEI: IYX6OWO7BT5DKO3BYG52 | Long             | DBT              | CORP              | US        |    645000 | PA      | $654049.35    | 0.03%             | 2030-06-15      | Fixed         | 5.95%                 | No            |                  2 | On Loan: No      |
| ASCEND LEARNING LLC                                              | Ascend Learning LLC 2025 Repriced Term Loan B                                                                                | CUSIP: 04349HAN4<br>LEI: 549300T466HKRLVCD610 | Long             | LON              | CORP              | US        |    746250 | PA      | $745160.48    | 0.03%             | 2028-12-11      | Floating      | 7.16%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                      | Freddie Mac Pool                                                                                                             | CUSIP: 3132DVMC6<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    603814 | PA      | $539747.11    | 0.02%             | 2052-08-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Kronos Acquisition Holdings Inc.                                 | Kronos Acquisition Holdings Inc 2024 Term Loan                                                                               | CUSIP: 50106JAH9<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    497487 | PA      | $364563.76    | 0.02%             | 2031-07-08      | Floating      | 8.00%                 | No            |                  2 | On Loan: No      |
| Zelis Payments Buyer Inc                                         | Zelis Payments Buyer Inc Term Loan B                                                                                         | CUSIP: 98932TAG8<br>LEI: 549300U8NGLZN5R1Y309 | Long             | LON              | CORP              | US        |    498737 | PA      | $497281.06    | 0.02%             | 2029-09-28      | Floating      | 6.91%                 | No            |                  2 | On Loan: No      |
| FREEPORT INDONESIA PT                                            | Freeport Indonesia PT                                                                                                        | CUSIP: 69377FAC0<br>LEI: 549300T4HTQHRKLNE619 | Long             | DBT              | CORP              | ID        |    200000 | PA      | $204256.20    | 0.01%             | 2052-04-14      | Fixed         | 6.20%                 | No            |                  2 | On Loan: No      |
| ALIXPARTNERS LLP                                                 | AlixPartners LLP 2025 USD Term Loan                                                                                          | CUSIP: 01642PBE5<br>LEI: 5493005G2MHUFTGARL57 | Long             | LON              | CORP              | US        |    170000 | PA      | $168772.60    | 0.01%             | 2032-08-12      | Floating      | 6.16%                 | No            |                  2 | On Loan: No      |
| Brazil Government International Bonds                            | Brazil Government International Bonds                                                                                        | CUSIP: 105756CC2<br>LEI: 254900ZFY40OYEADAP90 | Long             | DBT              | NUSS              | BR        |    200000 | PA      | $191600.00    | 0.01%             | 2030-06-12      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| BX Trust 2019-OC11                                               | BX Trust 2019-OC11                                                                                                           | CUSIP: 05606FAA1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    530000 | PA      | $500373.90    | 0.02%             | 2041-12-09      | Fixed         | 3.20%                 | No            |                  2 | On Loan: No      |
| United FP Holdings LLC                                           | United FP Holdings LLC 2019 1st Lien Term Loan                                                                               | CUSIP: 91132UAG8<br>LEI: 2549002AF6PASVP2G486 | Long             | LON              | CORP              | US        |   1006753 | PA      | $965647.21    | 0.04%             | 2026-12-30      | Floating      | 8.57%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                       | Fannie Mae Pool                                                                                                              | CUSIP: 3140XB7L8<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   1074826 | PA      | $1028964.24   | 0.05%             | 2037-09-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| WH Borrower LLC                                                  | WH Borrower LLC 2025 Term Loan B                                                                                             | CUSIP: 92942LAG6<br>LEI: 2549009H920CQUE3R944 | Long             | LON              | CORP              | US        |   1160000 | PA      | $1159814.40   | 0.05%             | 2032-02-20      | Floating      | 8.70%                 | No            |                  2 | On Loan: No      |
| CNX RESOURCES CORP                                               | CNX Resources Corp                                                                                                           | CUSIP: 12653CAL2<br>LEI: 549300JK3KH8PWM3B226 | Long             | DBT              | CORP              | US        |    250000 | PA      | $259356.71    | 0.01%             | 2032-03-01      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                      | Freddie Mac Gold Pool                                                                                                        | CUSIP: 31335AZ68<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   2281783 | PA      | $2065300.07   | 0.09%             | 2046-11-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| MajorDrive Holdings IV LLC                                       | MajorDrive Holdings IV LLC Term Loan B                                                                                       | CUSIP: 56085UAB9<br>LEI: 25490044R1FR5N8FIT62 | Long             | LON              | CORP              | US        |    139117 | PA      | $135445.98    | 0.01%             | 2028-06-01      | Floating      | 8.26%                 | No            |                  2 | On Loan: No      |
| WOLVERINE WORLD WIDE                                             | Wolverine World Wide Inc                                                                                                     | CUSIP: 978097AG8<br>LEI: 549300OVC7PK14LQ8D87 | Long             | DBT              | CORP              | US        |     60000 | PA      | $54892.76     | 0.00%             | 2029-08-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| AEGEA FINANCE SARL                                               | Aegea Finance Sarl                                                                                                           | CUSIP: 00775CAC0<br>LEI: 213800V6WTKUT1XWIZ47 | Long             | DBT              | CORP              | LU        |    200000 | PA      | $212011.60    | 0.01%             | 2031-01-20      | Fixed         | 9.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                       | Fannie Mae Pool                                                                                                              | CUSIP: 3140XQSR9<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   2236415 | PA      | $2340877.85   | 0.11%             | 2054-07-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| ECOPETROL SA                                                     | Ecopetrol SA                                                                                                                 | CUSIP: 279158AS8<br>LEI: 254900IDGKCJICKBPA66 | Long             | DBT              | CORP              | CO        |    350000 | PA      | $379393.89    | 0.02%             | 2033-01-13      | Fixed         | 8.88%                 | No            |                  2 | On Loan: No      |
| MOHEGAN TRIBAL / MS DIG                                          | Mohegan Tribal Gaming Authority / MS Digital Entertainment Holdings LLC                                                      | CUSIP: 60832QAB6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    130000 | PA      | $136265.61    | 0.01%             | 2031-04-15      | Fixed         | 11.88%                | No            |                  2 | On Loan: No      |
| JAZZ FINANCING LUX SARL                                          | Jazz Financing Lux Sarl 2024 1st Lien Term Loan B2                                                                           | CUSIP: 000000000<br>LEI: 635400WUEO2NSG5OIU34 | Long             | LON              | CORP              | LU        |    495992 | PA      | $496230.32    | 0.02%             | 2028-05-05      | Floating      | 6.41%                 | No            |                  2 | On Loan: No      |
| ICAHN ENTERPRISES/FIN                                            | Icahn Enterprises LP / Icahn Enterprises Finance Corp                                                                        | CUSIP: 451102CC9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    250000 | PA      | $215802.38    | 0.01%             | 2029-02-01      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| AT&T Inc                                                         | AT&T Inc                                                                                                                     | CUSIP: 00206RAG7<br>LEI: 549300Z40J86GGSTL398 | Long             | DBT              | CORP              | US        |   1485000 | PA      | $1616168.09   | 0.07%             | 2038-01-15      | Fixed         | 6.30%                 | No            |                  2 | On Loan: No      |
| PMHC II Inc                                                      | PMHC II Inc 2022 Term Loan B                                                                                                 | CUSIP: 69346EAG2<br>LEI: 549300GYZ1T3S8OPH343 | Long             | LON              | CORP              | US        |         0 | PA      | $0.00         | 0.00%             | 2029-04-23      | Floating      | 8.73%                 | No            |                  2 | On Loan: No      |
| PG&E CORP                                                        | PG&E Corp                                                                                                                    | CUSIP: 69331CAL2<br>LEI: 8YQ2GSDWYZXO2EDN3511 | Long             | DBT              | CORP              | US        |    134000 | PA      | $135514.20    | 0.01%             | 2027-12-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| FAIR ISAAC CORP                                                  | Fair Isaac Corp                                                                                                              | CUSIP: 303250AG9<br>LEI: RI6HET5SJUEY30V1PS26 | Long             | DBT              | CORP              | US        |    325000 | PA      | $329044.03    | 0.02%             | 2033-05-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Bank of America NA                                               | PURCHASED USD / SOLD EUR                                                                                                     | CUSIP: 000000000<br>LEI: B4TYDEB6GKMZO031MB27 | N/A              | DFE              |  | US        |         1 | NC      | $-437.32      | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| JYSKE BANK A/S                                                   | Jyske Bank A/S                                                                                                               | CUSIP: 000000000<br>LEI: 3M5E1GQGKL17HI6CPN30 | Long             | DBT              | CORP              | DK        |    338000 | PA      | $420086.41    | 0.02%             | 2035-05-01      | Fixed         | 5.13%                 | No            |                  2 | On Loan: No      |
| VIKING CRUISES LTD                                               | Viking Cruises Ltd                                                                                                           | CUSIP: 92676XAG2<br>LEI: 549300IJP90T4MV2GL84 | Long             | DBT              | CORP              | BM        |    100000 | PA      | $107332.00    | 0.00%             | 2031-07-15      | Fixed         | 9.13%                 | No            |                  2 | On Loan: No      |
| LEVEL 3 FINANCING INC                                            | Level 3 Financing Inc                                                                                                        | CUSIP: 527298CM3<br>LEI: 254900AE5FEFIJOXWL19 | Long             | DBT              | CORP              | US        |    365000 | PA      | $372000.70    | 0.02%             | 2033-06-30      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| CLOUD SOFTWARE GRP INC                                           | Cloud Software Group Inc                                                                                                     | CUSIP: 18912UAG7<br>LEI: 04EEB871XLHVNY4RZJ65 | Long             | DBT              | CORP              | US        |     70000 | PA      | $71257.49     | 0.00%             | 2033-08-15      | Fixed         | 6.63%                 | No            |                  2 | On Loan: No      |
| AHLSTROM HLDG 3 OY                                               | Ahlstrom Holding 3 Oy                                                                                                        | CUSIP: 84612JAA0<br>LEI: 743700UEY0YM039XN974 | Long             | DBT              | CORP              | FI        |    100000 | PA      | $96957.63     | 0.00%             | 2028-02-04      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| Chile Government International Bonds                             | Chile Government International Bonds                                                                                         | CUSIP: 168863DP0<br>LEI: 549300FLZTJM5YJF8D34 | Long             | DBT              | NUSS              | CL        |    300000 | PA      | $271500.00    | 0.01%             | 2031-01-31      | Fixed         | 2.45%                 | No            |                  2 | On Loan: No      |
| QUIKRETE HOLDINGS INC                                            | Quikrete Holdings Inc                                                                                                        | CUSIP: 74843PAA8<br>LEI: 5493007KIN86DIZWZT22 | Long             | DBT              | CORP              | US        |    600000 | PA      | $621506.40    | 0.03%             | 2032-03-01      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| Fertitta Entertainment LLC                                       | Fertitta Entertainment LLC 2022 Term Loan B                                                                                  | CUSIP: 31556PAB3<br>LEI: 984500A0805D8V551D35 | Long             | LON              | CORP              | US        |   1745490 | PA      | $1742417.63   | 0.08%             | 2029-01-27      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| CODELCO INC                                                      | Corp Nacional del Cobre de Chile                                                                                             | CUSIP: 21987BBH0<br>LEI: 549300UVMBCBCIPSUI70 | Long             | DBT              | CORP              | CL        |    200000 | PA      | $204983.14    | 0.01%             | 2053-09-08      | Fixed         | 6.30%                 | No            |                  2 | On Loan: No      |
| AERCAP IRELAND CAP/GLOBA                                         | AerCap Ireland Capital DAC / AerCap Global Aviation Trust                                                                    | CUSIP: 00774MAV7<br>LEI: N/A                  | Long             | DBT              | CORP              | IE        |   2070000 | PA      | $2033743.49   | 0.09%             | 2026-10-29      | Fixed         | 2.45%                 | No            |                  2 | On Loan: No      |
| WASTE PRO USA INC                                                | Waste Pro USA Inc                                                                                                            | CUSIP: 94107JAC7<br>LEI: 549300BY1QXU5BI3UF28 | Long             | DBT              | CORP              | US        |     80000 | PA      | $82863.76     | 0.00%             | 2033-02-01      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| NAVIENT CORP                                                     | Navient Corp                                                                                                                 | CUSIP: 63938CAL2<br>LEI: 54930067J0ZNOEBRW338 | Long             | DBT              | CORP              | US        |    100000 | PA      | $98043.39     | 0.00%             | 2028-03-15      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| KOSMOS ENERGY LTD                                                | Kosmos Energy Ltd                                                                                                            | CUSIP: 500688AF3<br>LEI: 213800YDFJ3OT9B5P157 | Long             | DBT              | CORP              | US        |     75000 | PA      | $72937.50     | 0.00%             | 2027-05-01      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| ALERA GROUP INC                                                  | Alera Group Inc 2025 2nd Lien Term Loan                                                                                      | CUSIP: 01451PAD8<br>LEI: 2549003D76KZAKICNX26 | Long             | LON              | CORP              | US        |     85000 | PA      | $87284.80     | 0.00%             | 2033-05-30      | Floating      | 9.66%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA BUYER/ATLANTI                                         | California Buyer Ltd / Atlantica Sustainable Infrastructure PLC                                                              | CUSIP: 13005HAA8<br>LEI: N/A                  | Long             | DBT              | CORP              | GB        |    300000 | PA      | $307479.30    | 0.01%             | 2032-02-15      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| FORD MOTOR CREDIT CO LLC                                         | Ford Motor Credit Co LLC                                                                                                     | CUSIP: 345397D59<br>LEI: UDSQCVRUX5BONN0VY111 | Long             | DBT              | CORP              | US        |    850000 | PA      | $887446.16    | 0.04%             | 2028-11-07      | Fixed         | 6.80%                 | No            |                  2 | On Loan: No      |
| OPTIV SECURITY INC                                               | Optiv Security Inc 2023 Term Loan                                                                                            | CUSIP: 68405PAB8<br>LEI: 549300EMRBO1UNORKL53 | Long             | LON              | CORP              | US        |    498731 | PA      | $389010.15    | 0.02%             | 2026-07-31      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| BANK OF AMERICA CORP                                             | Bank of America Corp                                                                                                         | CUSIP: 06055HAK9<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |    135000 | PA      | $136724.83    | 0.01%             | 2030-07-26      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| JP Morgan Chase Commercial Mortgage Sec Trust                    | JP Morgan Chase Commercial Mortgage Securities Trust 2021-MHC                                                                | CUSIP: 466330AQ0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    200000 | PA      | $200374.98    | 0.01%             | 2038-04-15      | Floating      | 7.47%                 | No            |                  2 | On Loan: No      |
| ROMANIA                                                          | Romanian Government International Bond                                                                                       | CUSIP: 77586RAW0<br>LEI: 315700IASY927EDWBK92 | Long             | DBT              | NUSS              | RO        |    150000 | PA      | $160985.76    | 0.01%             | 2037-02-10      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                       | Fannie Mae Pool                                                                                                              | CUSIP: 3140XATV4<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     16862 | PA      | $13832.18     | 0.00%             | 2051-04-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| DELEK LOG PART/FINANCE                                           | Delek Logistics Partners LP / Delek Logistics Finance Corp                                                                   | CUSIP: 24665FAD4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    200000 | PA      | $208560.00    | 0.01%             | 2029-03-15      | Fixed         | 8.63%                 | No            |                  2 | On Loan: No      |
| JPMorgan Chase Bank NA                                           | PURCHASED USD / SOLD EUR                                                                                                     | CUSIP: 000000000<br>LEI: 7H6GLXDRUGQFU57RNE97 | N/A              | DFE              |  | US        |         1 | NC      | $1261.40      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Project Boost Purchaser LLC                                      | Project Boost Purchaser LLC 2025 Refinancing Term Loan                                                                       | CUSIP: 74339NAG1<br>LEI: 254900SVSL94NTLSDY26 | Long             | LON              | CORP              | US        |    498747 | PA      | $497190.77    | 0.02%             | 2031-07-16      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| BBVA BANCOMER SA TEXAS                                           | BBVA Mexico SA Institucion De Banca Multiple Grupo Financiero BBVA Mexico/TX                                                 | CUSIP: 05533UAF5<br>LEI: 549300WIWQK5Q9MCUN92 | Long             | DBT              | CORP              | MX        |    250000 | PA      | $245500.00    | 0.01%             | 2033-01-18      | Fixed         | 5.13%                 | No            |                  2 | On Loan: No      |
| Eurex Deutschland                                                | EURO-BUND FUTURE DEC25                                                                                                       | CUSIP: 000000000<br>LEI: 529900LN3S50JPU47S06 | N/A              | DIR              |  | DE        |        -1 | NC      | $151.78       | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| DOMINICAN REPUBLIC                                               | Dominican Republic International Bond                                                                                        | CUSIP: 25714PFC7<br>LEI: 254900EHU7Q8FGVPI369 | Long             | DBT              | NUSS              | DO        |    150000 | PA      | $159330.00    | 0.01%             | 2055-02-24      | Fixed         | 7.15%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                       | Fannie Mae Pool                                                                                                              | CUSIP: 3140QLWH5<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   2684251 | PA      | $2308054.64   | 0.11%             | 2051-09-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| United States Treasury                                           | U.S. Treasury Inflation-Indexed Bonds                                                                                        | CUSIP: 912810UH9<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   1197741 | PA      | $1169200.79   | 0.05%             | 2055-02-15      | Fixed         | 2.38%                 | No            |                  2 | On Loan: No      |
| ON SEMICONDUCTOR CORP                                            | ON Semiconductor Corp                                                                                                        | CUSIP: 682189AS4<br>LEI: ZV20P4CNJVT8V1ZGJ064 | Long             | DBT              | CORP              | US        |    129000 | PA      | $146802.00    | 0.01%             | 2027-05-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Peraton Corp                                                     | Peraton Corp Term Loan B                                                                                                     | CUSIP: 71360HAB3<br>LEI: 549300EQPCK07ZW63836 | Long             | LON              | CORP              | US        |    994677 | PA      | $837150.12    | 0.04%             | 2028-02-01      | Floating      | 8.01%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF KENYA                                                | Republic of Kenya Government International Bond                                                                              | CUSIP: 491798AM6<br>LEI: 549300VVURQQYU45PR87 | Long             | DBT              | NUSS              | KE        |    200000 | PA      | $213437.65    | 0.01%             | 2031-02-16      | Fixed         | 9.75%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                       | Fannie Mae Pool                                                                                                              | CUSIP: 3140XLYF9<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   4120562 | PA      | $4259568.79   | 0.20%             | 2053-07-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| GOLDEN STATE FOOD LLC                                            | Golden State Food LLC Term Loan B                                                                                            | CUSIP: 38121NAC7<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    115000 | PA      | $115117.30    | 0.01%             | 2031-12-04      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| AZORRA SOAR TLB FINANCE LTD                                      | Azorra Soar TLB Finance Ltd 2025 Term Loan B                                                                                 | CUSIP: 000000000<br>LEI: 254900W0D3E1W7DRS089 | Long             | LON              | CORP              | KY        |    169635 | PA      | $169635.17    | 0.01%             | 2029-10-18      | Floating      | 6.79%                 | No            |                  2 | On Loan: No      |
| YPF SOCIEDAD ANONIMA                                             | YPF SA                                                                                                                       | CUSIP: 984245BB5<br>LEI: 5493003N7447U18U5U53 | Long             | DBT              | CORP              | AR        |     50000 | PA      | $48143.71     | 0.00%             | 2034-01-17      | Fixed         | 8.25%                 | No            |                  2 | On Loan: No      |
| United States Treasury                                           | U.S. Treasury Bonds                                                                                                          | CUSIP: 912810TQ1<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  28715000 | PA      | $26062227.61  | 1.19%             | 2043-02-15      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| CommScope Inc                                                    | CommScope Inc 2024 Term Loan                                                                                                 | CUSIP: 000000000<br>LEI: 549300Z6K4JXMFE8QY54 | Long             | LON              | CORP              | US        |    750000 | PA      | $758437.50    | 0.03%             | 2029-12-17      | Floating      | 8.91%                 | No            |                  2 | On Loan: No      |
| CLEVELAND-CLIFFS INC                                             | Cleveland-Cliffs Inc                                                                                                         | CUSIP: 18589GAA3<br>LEI: 549300TM2WLI2BJMDD86 | Long             | DBT              | CORP              | US        |     70000 | PA      | $72128.35     | 0.00%             | 2034-01-15      | Fixed         | 7.63%                 | No            |                  2 | On Loan: No      |
| TULLOW OIL PLC                                                   | Tullow Oil PLC                                                                                                               | CUSIP: 899415AG8<br>LEI: 2138003EYHWO75RKS857 | Long             | DBT              | CORP              | GB        |    319000 | PA      | $272346.25    | 0.01%             | 2026-05-15      | Fixed         | 10.25%                | No            |                  2 | On Loan: No      |
| ASURION LLC                                                      | Asurion LLC 2024 Term Loan B12                                                                                               | CUSIP: 04649VBD1<br>LEI: 549300KNQVXGIOXWK278 | Long             | LON              | CORP              | US        |   1741206 | PA      | $1733858.15   | 0.08%             | 2030-09-19      | Floating      | 8.41%                 | No            |                  2 | On Loan: No      |
| CNT HOLDINGS I CORP                                              | CNT Holdings I Corp 2025 Term Loan                                                                                           | CUSIP: 12656AAF6<br>LEI: 254900SYIEHMSB69WT08 | Long             | LON              | CORP              | US        |    498750 | PA      | $498316.09    | 0.02%             | 2032-11-08      | Floating      | 6.56%                 | No            |                  2 | On Loan: No      |
| AMERITEX HOLDCO INTERMED                                         | AmeriTex HoldCo Intermediate LLC                                                                                             | CUSIP: 030727AB7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    135000 | PA      | $140506.45    | 0.01%             | 2033-08-15      | Fixed         | 7.63%                 | No            |                  2 | On Loan: No      |
| TMS ISSUER SARL                                                  | TMS Issuer Sarl                                                                                                              | CUSIP: 87266GAA8<br>LEI: 21380092DY1X4BHPMA32 | Long             | DBT              | CORP              | LU        |    100000 | PA      | $104875.00    | 0.00%             | 2032-08-23      | Fixed         | 5.78%                 | No            |                  2 | On Loan: No      |
| DB Master Finance LLC                                            | DB Master Finance LLC                                                                                                        | CUSIP: 233046AF8<br>LEI: 549300F17UZJL70BPB08 | Long             | ABS-O            | CORP              | US        |   4625000 | PA      | $4572087.23   | 0.21%             | 2047-11-20      | Fixed         | 4.03%                 | No            |                  2 | On Loan: No      |
| SEALED AIR CORP                                                  | Sealed Air Corp                                                                                                              | CUSIP: 81211KBA7<br>LEI: Q0M0CZB4YN6JZ65WXI09 | Long             | DBT              | CORP              | US        |     40000 | PA      | $39776.82     | 0.00%             | 2029-04-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                       | Fannie Mae Pool                                                                                                              | CUSIP: 3140XCWH7<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   1039145 | PA      | $933636.72    | 0.04%             | 2051-09-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF SRI LANKA                                            | Sri Lanka Government International Bond                                                                                      | CUSIP: 000000000<br>LEI: 254900IG6Y30I2QE2R92 | Long             | DBT              | NUSS              | LK        |     51609 | PA      | $45544.94     | 0.00%             | 2036-05-15      | Variable      | 3.60%                 | No            |                  2 | On Loan: No      |
| Restoration Hardware Inc                                         | Restoration Hardware Inc 2022 Incremental Term Loan                                                                          | CUSIP: 76133MAC5<br>LEI: 549300H9H1H3OC7C3H47 | Long             | LON              | CORP              | US        |    497436 | PA      | $486243.59    | 0.02%             | 2028-10-20      | Floating      | 7.51%                 | No            |                  2 | On Loan: No      |
| CLEARWAY ENERGY OP LLC                                           | Clearway Energy Operating LLC                                                                                                | CUSIP: 18539UAD7<br>LEI: 549300Z3NFMM54NWBB87 | Long             | DBT              | CORP              | US        |    300000 | PA      | $275397.93    | 0.01%             | 2031-02-15      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| DP WORLD CRESCENT LTD                                            | DP World Crescent Ltd                                                                                                        | CUSIP: 26139PAC7<br>LEI: 21380096JRTWB8TL9236 | Long             | DBT              | CORP              | KY        |    200000 | PA      | $193862.46    | 0.01%             | 2030-01-30      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| ENCORE CAPITAL GROUP INC                                         | Encore Capital Group Inc                                                                                                     | CUSIP: 292554AR3<br>LEI: 5493000UVC6H49CIH830 | Long             | DBT              | CORP              | US        |    225000 | PA      | $238937.85    | 0.01%             | 2030-05-15      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| COSTA RICA GOVERNMENT                                            | Costa Rica Government International Bond                                                                                     | CUSIP: 221597CV7<br>LEI: 549300S1EK2VN6XVJP58 | Long             | DBT              | NUSS              | CR        |    200000 | PA      | $218868.48    | 0.01%             | 2054-11-13      | Fixed         | 7.30%                 | No            |                  2 | On Loan: No      |
| 1261229 BC LTD                                                   | 1261229 BC Ltd                                                                                                               | CUSIP: 68288AAA5<br>LEI: N/A                  | Long             | DBT              | CORP              | CA        |    500000 | PA      | $512526.02    | 0.02%             | 2032-04-15      | Fixed         | 10.00%                | No            |                  2 | On Loan: No      |
| ARAB REPUBLIC OF EGYPT                                           | Egypt Government International Bond                                                                                          | CUSIP: 03846JAC4<br>LEI: 529900GFIVH4086NMH82 | Long             | DBT              | NUSS              | EG        |    150000 | PA      | $117584.56    | 0.01%             | 2061-02-16      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| FOCUS FINANCIAL PARTNERS LLC                                     | Focus Financial Partners LLC 2025 Incremental Term Loan B                                                                    | CUSIP: 34416DBD9<br>LEI: 5493007L0E0VKRC2CP39 | Long             | LON              | CORP              | US        |     34912 | PA      | $34915.55     | 0.00%             | 2031-09-15      | Floating      | 6.91%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                       | Fannie Mae Pool                                                                                                              | CUSIP: 31418DXR8<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   3753177 | PA      | $3244340.04   | 0.15%             | 2041-03-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| PG&E CORP                                                        | PG&E Corp                                                                                                                    | CUSIP: 69331CAJ7<br>LEI: 8YQ2GSDWYZXO2EDN3511 | Long             | DBT              | CORP              | US        |    700000 | PA      | $690301.57    | 0.03%             | 2030-07-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| T-MOBILE USA INC                                                 | T-Mobile USA Inc                                                                                                             | CUSIP: 87264ADC6<br>LEI: 549300V2JRLO5DIFGE82 | Long             | DBT              | CORP              | US        |   1190000 | PA      | $1260947.35   | 0.06%             | 2034-01-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| LCH Ltd.                                                         | Long: BOT433000 IRS USD R V 12MSOFR LOT433000_FLO CCPOIS / Short: BOT433000 IRS USD P F  3.75000 LOT433000_FIX CCPOIS        | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | US        |   2540000 | OU      | $75966.14     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Fannie Mae                                                       | Fannie Mae Pool                                                                                                              | CUSIP: 3140QFSY6<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   7051446 | PA      | $5983324.71   | 0.27%             | 2050-11-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| United States Treasury                                           | U.S. Treasury Bonds                                                                                                          | CUSIP: 912810RT7<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  37530000 | PA      | $25039546.88  | 1.15%             | 2046-08-15      | Fixed         | 2.25%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                       | Fannie Mae Pool                                                                                                              | CUSIP: 3140XATH5<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   5344685 | PA      | $5008865.41   | 0.23%             | 2050-08-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| ONEMAIN FINANCE CORP                                             | OneMain Finance Corp                                                                                                         | CUSIP: 682691AM2<br>LEI: 5493008I795YYBFWFU90 | Long             | DBT              | CORP              | US        |     70000 | PA      | $70110.60     | 0.00%             | 2033-03-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| COLOMBIA TELECOMUNICACIO                                         | Colombia Telecomunicaciones SA ESP                                                                                           | CUSIP: 19533PAC4<br>LEI: 549300CK4YN0V1C3MN55 | Long             | DBT              | CORP              | CO        |    220000 | PA      | $203555.00    | 0.01%             | 2030-07-17      | Fixed         | 4.95%                 | No            |                  2 | On Loan: No      |
| CCO HLDGS LLC/CAP CORP                                           | CCO Holdings LLC / CCO Holdings Capital Corp                                                                                 | CUSIP: 1248EPCN1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    495000 | PA      | $450482.77    | 0.02%             | 2032-05-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| BARCLAYS PLC                                                     | Barclays PLC                                                                                                                 | CUSIP: 06738ECY9<br>LEI: 213800LBQA1Y9L22JB70 | Long             | DBT              | CORP              | GB        |   4180000 | PA      | $4310217.95   | 0.20%             | 2031-02-25      | Fixed         | 5.37%                 | No            |                  2 | On Loan: No      |
| EQUITABLE FINANCIAL LIFE                                         | Equitable Financial Life Global Funding                                                                                      | CUSIP: 29449WAT4<br>LEI: 635400B4JJBON4TCHF02 | Long             | DBT              | CORP              | US        |   4220000 | PA      | $4323940.16   | 0.20%             | 2030-03-27      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| GALAXY PIPELINE ASSETS                                           | Galaxy Pipeline Assets Bidco Ltd                                                                                             | CUSIP: 36321PAD2<br>LEI: 549300L82YB0C6JQIC26 | Long             | DBT              | CORP              | JE        |     69919 | PA      | $63483.24     | 0.00%             | 2034-03-31      | Fixed         | 2.16%                 | No            |                  2 | On Loan: No      |
| BAT CAPITAL CORP                                                 | BAT Capital Corp                                                                                                             | CUSIP: 05526DCB9<br>LEI: 2138005GYEXN7XRHFA84 | Long             | DBT              | CORP              | US        |   6350000 | PA      | $6565489.47   | 0.30%             | 2032-08-15      | Fixed         | 5.35%                 | No            |                  2 | On Loan: No      |
| INVEST ENERGY RES LTD                                            | Investment Energy Resources Ltd                                                                                              | CUSIP: 46143NAB6<br>LEI: 254900A71Y7WHN7L5K89 | Long             | DBT              | CORP              | BM        |    200000 | PA      | $199195.82    | 0.01%             | 2029-04-26      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| BLACKSTONE PP EUR HOLD                                           | Blackstone Property Partners Europe Holdings Sarl                                                                            | CUSIP: 000000000<br>LEI: 213800Y3B5GQFBGVHP79 | Long             | DBT              | CORP              | LU        |    300000 | PA      | $325762.58    | 0.01%             | 2030-04-20      | Fixed         | 1.63%                 | No            |                  2 | On Loan: No      |
| BX Trust                                                         | BX Commercial Mortgage Trust 2021-CIP                                                                                        | CUSIP: 12434FAN7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    131947 | PA      | $131781.76    | 0.01%             | 2038-12-15      | Floating      | 7.48%                 | No            |                  2 | On Loan: No      |
| GGAM FINANCE LTD                                                 | GGAM Finance Ltd                                                                                                             | CUSIP: 36170JAD8<br>LEI: 254900X2QXEN0FVXRF65 | Long             | DBT              | CORP              | KY        |    190000 | PA      | $197032.09    | 0.01%             | 2029-04-15      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| CALPINE CORP                                                     | Calpine Corp                                                                                                                 | CUSIP: 131347CN4<br>LEI: 43R4VPJBXTU2O15HEF41 | Long             | DBT              | CORP              | US        |    100000 | PA      | $100051.00    | 0.00%             | 2028-03-15      | Fixed         | 5.13%                 | No            |                  2 | On Loan: No      |
| TALLGRASS NRG PRTNR/FIN                                          | Tallgrass Energy Partners LP / Tallgrass Energy Finance Corp                                                                 | CUSIP: 87470LAK7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     70000 | PA      | $68489.55     | 0.00%             | 2031-09-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| UMBS, TBA                                                        | Uniform Mortgage-Backed Security, TBA                                                                                        | CUSIP: 01F0326A7<br>LEI: N/A                  | Short            | ABS-MBS          | USGSE             | US        |  -3525000 | PA      | $-3220162.19  | -0.15%            | 2055-10-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| CHARTER COMM OPT LLC/CAP                                         | Charter Communications Operating LLC / Charter Communications Operating Capital                                              | CUSIP: 161175BY9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   6270000 | PA      | $3907966.85   | 0.18%             | 2061-04-01      | Fixed         | 3.85%                 | No            |                  2 | On Loan: No      |
| SABLE INTL FINANCE LTD                                           | Sable International Finance Ltd                                                                                              | CUSIP: 785712AK6<br>LEI: 2138009IE9A35LO5JS73 | Long             | DBT              | CORP              | KY        |    450000 | PA      | $456924.60    | 0.02%             | 2032-10-15      | Fixed         | 7.13%                 | No            |                  2 | On Loan: No      |
| ACRISURE HOLDINGS, INC.                                          | ACRISURE HOLDINGS, INC.                                                                                                      | CUSIP: 000000000<br>LEI: N/A                  | Long             | EP               | CORP              | US        |      8824 | NS      | $228012.16    | 0.01%             |  |  |  | No            |                  3 | On Loan: No      |
| Verdant Receivables LLC                                          | Verdant Receivables 2025-1 LLC                                                                                               | CUSIP: 92340GAB6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    565000 | PA      | $568027.95    | 0.03%             | 2028-03-13      | Fixed         | 4.85%                 | No            |                  2 | On Loan: No      |
| ENERGY TRANSFER LP                                               | Energy Transfer LP                                                                                                           | CUSIP: 226373AT5<br>LEI: MTLVN9N7JE8MIBIJ1H73 | Long             | DBT              | CORP              | US        |    100000 | PA      | $104448.23    | 0.00%             | 2031-02-01      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| KOSMOS ENERGY LTD                                                | Kosmos Energy Ltd                                                                                                            | CUSIP: 500688AJ5<br>LEI: 213800YDFJ3OT9B5P157 | Long             | DBT              | CORP              | US        |    550000 | PA      | $426668.94    | 0.02%             | 2031-10-01      | Fixed         | 8.75%                 | No            |                  2 | On Loan: No      |
| C&S GROUP ENTERPRISES LL                                         | C&S Group Enterprises LLC                                                                                                    | CUSIP: 12467AAF5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    230000 | PA      | $208052.62    | 0.01%             | 2028-12-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| STONEX ESCROW ISSUER LLC                                         | Stonex Escrow Issuer LLC                                                                                                     | CUSIP: 86189AAA7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     65000 | PA      | $66905.57     | 0.00%             | 2032-07-15      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| OCCIDENTAL PETROLEUM COR                                         | Occidental Petroleum Corp                                                                                                    | CUSIP: 674599EK7<br>LEI: IM7X0T3ECJW4C1T7ON55 | Long             | DBT              | CORP              | US        |   1285000 | PA      | $1306821.87   | 0.06%             | 2032-01-01      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| DOMINICAN REPUBLIC                                               | Dominican Republic International Bond                                                                                        | CUSIP: 25714PET1<br>LEI: 254900EHU7Q8FGVPI369 | Long             | DBT              | NUSS              | DO        |    300000 | PA      | $323265.00    | 0.01%             | 2031-02-03      | Fixed         | 7.05%                 | No            |                  2 | On Loan: No      |
| WEBER STEPHEN PRODUCTS LLC                                       | WEBER STEPHEN PRODUCTS LLC 2025 TERM LOAN B                                                                                  | CUSIP: 000000000<br>LEI: 549300XU8TJBBGLK8V26 | Long             | LON              | CORP              | US        |    625000 | PA      | $617968.75    | 0.03%             | 2032-09-17      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| ZF NA CAPITAL                                                    | ZF North America Capital Inc                                                                                                 | CUSIP: 98877DAG0<br>LEI: 529900JYGMS9CW9IQX78 | Long             | DBT              | CORP              | US        |    200000 | PA      | $191481.36    | 0.01%             | 2032-04-23      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| KENNEDY-WILSON INC                                               | Kennedy-Wilson Inc                                                                                                           | CUSIP: 489399AN5<br>LEI: 5EA4464UK7FM5QNNKL62 | Long             | DBT              | CORP              | US        |    150000 | PA      | $140055.00    | 0.01%             | 2030-02-01      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| OPEN TEXT CORP                                                   | Open Text Corp                                                                                                               | CUSIP: 683715AD8<br>LEI: 549300HP7ONDQODZJV16 | Long             | DBT              | CORP              | CA        |    200000 | PA      | $189050.10    | 0.01%             | 2029-12-01      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| Chicago Board of Trade                                           | US 2YR NOTE (CBT) DEC25                                                                                                      | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DIR              |  | US        |       224 | NC      | $-24902.00    | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| CORNERSTONE BUILDING                                             | Cornerstone Building Brands Inc                                                                                              | CUSIP: 21925DAB5<br>LEI: 549300IW41QEWQ6T0H29 | Long             | DBT              | CORP              | US        |     75000 | PA      | $72873.00     | 0.00%             | 2029-08-15      | Fixed         | 9.50%                 | No            |                  2 | On Loan: No      |
| AVOLON HOLDINGS FNDG LTD                                         | Avolon Holdings Funding Ltd                                                                                                  | CUSIP: 05401AAZ4<br>LEI: 635400ZRKEX9L1BKCH30 | Long             | DBT              | CORP              | KY        |   2150000 | PA      | $2205438.42   | 0.10%             | 2030-05-30      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| CLYDESDALE ACQUISITION                                           | Clydesdale Acquisition Holdings Inc                                                                                          | CUSIP: 18972EAB1<br>LEI: 254900QKSDYFR3K5YD98 | Long             | DBT              | CORP              | US        |    300000 | PA      | $308172.90    | 0.01%             | 2030-04-15      | Fixed         | 8.75%                 | No            |                  2 | On Loan: No      |
| ARCHKEY SOLUTIONS LLC                                            | Archkey Solutions LLC 2024 Term Loan B                                                                                       | CUSIP: 48205CAC9<br>LEI: 254900FACU3AJQKAQ270 | Long             | LON              | CORP              | US        |    161337 | PA      | $162311.97    | 0.01%             | 2031-11-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                       | Fannie Mae REMICS                                                                                                            | CUSIP: 3136BPBP5<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   2206459 | PA      | $2178961.19   | 0.10%             | 2052-10-25      | Floating      | 5.16%                 | No            |                  2 | On Loan: No      |
| SCG Hotel Issuer Inc                                             | SCG Commercial Mortgage Trust 2025-FLWR                                                                                      | CUSIP: 78438AAA3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    300000 | PA      | $300280.68    | 0.01%             | 2042-08-15      | Floating      | 5.40%                 | No            |                  2 | On Loan: No      |
| Romanian Government International Bonds                          | Romanian Government International Bonds                                                                                      | CUSIP: 000000000<br>LEI: 315700IASY927EDWBK92 | Long             | DBT              | NUSS              | RO        |    150000 | PA      | $180334.17    | 0.01%             | 2032-07-11      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| TransDigm Inc                                                    | TransDigm Inc 2025 Term Loan M                                                                                               | CUSIP: 89364MCE2<br>LEI: 88Q84GB3X55CF5OC7582 | Long             | LON              | CORP              | US        |    380000 | PA      | $379513.60    | 0.02%             | 2032-08-19      | Floating      | 6.66%                 | No            |                  2 | On Loan: No      |
| AUNA SA                                                          | Auna SA                                                                                                                      | CUSIP: 05151AAA1<br>LEI: 254900SOGP7YC0N9I368 | Long             | DBT              | CORP              | LU        |    130000 | PA      | $137787.00    | 0.01%             | 2029-12-18      | Fixed         | 10.00%                | No            |                  2 | On Loan: No      |
| United States Treasury                                           | U.S. Treasury Notes                                                                                                          | CUSIP: 91282CNR8<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    160000 | PA      | $160750.00    | 0.01%             | 2032-07-31      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| BURFORD CAPITAL GLBL FIN                                         | Burford Capital Global Finance LLC                                                                                           | CUSIP: 12116LAG4<br>LEI: 549300JVAOO67CSCH406 | Long             | DBT              | CORP              | US        |    135000 | PA      | $137376.00    | 0.01%             | 2033-07-15      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| BAUSCH HEALTH COMPANIES INC                                      | Bausch Health Companies Inc 2025 Term Loan B                                                                                 | CUSIP: 000000000<br>LEI: B3BS7ACMDUWISF18KY76 | Long             | LON              | CORP              | CA        |   1366575 | PA      | $1344791.79   | 0.06%             | 2030-10-08      | Floating      | 10.41%                | No            |                  2 | On Loan: No      |
| LBA Trust                                                        | LBA Trust 2024-BOLT                                                                                                          | CUSIP: 50177BAQ0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    100000 | PA      | $98494.72     | 0.00%             | 2039-06-15      | Floating      | 8.59%                 | No            |                  2 | On Loan: No      |
| BRASKEM NETHERLANDS                                              | Braskem Netherlands Finance BV                                                                                               | CUSIP: 10554TAE5<br>LEI: 2549000TLMHFQ74DS330 | Long             | DBT              | CORP              | NL        |    100000 | PA      | $36053.96     | 0.00%             | 2050-01-31      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| X Corp.                                                          | X Corp Term Loan                                                                                                             | CUSIP: 90184NAG3<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    194117 | PA      | $190262.18    | 0.01%             | 2029-10-26      | Floating      | 10.96%                | No            |                  2 | On Loan: No      |
| Fannie Mae                                                       | Fannie Mae Pool                                                                                                              | CUSIP: 3140X9LP8<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   1578741 | PA      | $1294637.36   | 0.06%             | 2051-01-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| Colombia Government International Bonds                          | Colombia Government International Bonds                                                                                      | CUSIP: 195325EL5<br>LEI: 549300MHDRBVRF6B9117 | Long             | DBT              | NUSS              | CO        |   1000000 | PA      | $1073000.00   | 0.05%             | 2035-11-14      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| GEN DIGITAL INC                                                  | Gen Digital Inc                                                                                                              | CUSIP: 668771AM0<br>LEI: YF6ZV0M6AU4FY94MK914 | Long             | DBT              | CORP              | US        |    105000 | PA      | $107192.31    | 0.00%             | 2033-04-01      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| American Trailer World Corp                                      | American Trailer World Corp Term Loan B                                                                                      | CUSIP: 03028BAB3<br>LEI: 254900WNYWX3HF6TKT69 | Long             | LON              | CORP              | US        |    500000 | PA      | $449375.00    | 0.02%             | 2028-03-03      | Floating      | 8.01%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                       | Fannie Mae Pool                                                                                                              | CUSIP: 3140XLTZ1<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   2552405 | PA      | $2646280.48   | 0.12%             | 2053-07-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| FIESTA PURCHASER INC                                             | Fiesta Purchaser Inc                                                                                                         | CUSIP: 31659AAB2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     65000 | PA      | $70173.48     | 0.00%             | 2032-09-15      | Fixed         | 9.63%                 | No            |                  2 | On Loan: No      |
| CNTL AMR BOTTLING CORP                                           | Central American Bottling Corp / CBC Bottling Holdco SL / Beliv Holdco SL                                                    | CUSIP: 15239XAA6<br>LEI: N/A                  | Long             | DBT              | CORP              | VG        |    150000 | PA      | $148160.76    | 0.01%             | 2029-04-27      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| PNC FINANCIAL SERVICES                                           | PNC Financial Services Group Inc/The                                                                                         | CUSIP: 693475BU8<br>LEI: CFGNEKW0P8842LEUIA51 | Long             | DBT              | CORP              | US        |   2670000 | PA      | $3024983.92   | 0.14%             | 2034-10-20      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| HEATHROW FUNDING LTD                                             | Heathrow Funding Ltd                                                                                                         | CUSIP: 000000000<br>LEI: 7TI96JO3DYEIQWZ7Z726 | Long             | DBT              | CORP              | JE        |    255000 | PA      | $347403.87    | 0.02%             | 2032-03-05      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Japan Government Ten Year Bonds                                  | Japan Government Ten Year Bonds                                                                                              | CUSIP: 000000000<br>LEI: 353800WZS8AXZXFUC241 | Long             | DBT              | NUSS              | JP        |  23600000 | PA      | $150428.16    | 0.01%             | 2034-09-20      | Fixed         | 0.90%                 | No            |                  2 | On Loan: No      |
| C&W SENIOR FINANCE LTD                                           | C&W Senior Finance Ltd                                                                                                       | CUSIP: 12665MAA0<br>LEI: 213800CG16G1YMJRCG10 | Long             | DBT              | CORP              | KY        |    615000 | PA      | $643115.96    | 0.03%             | 2033-01-15      | Fixed         | 9.00%                 | No            |                  2 | On Loan: No      |
| MILLICOM INTL CELLULAR                                           | Millicom International Cellular SA                                                                                           | CUSIP: 600814AS6<br>LEI: 549300CTHC1CP86P2G96 | Long             | DBT              | CORP              | LU        |    100000 | PA      | $104503.40    | 0.00%             | 2032-04-02      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| MASTERBRAND INC                                                  | Masterbrand Inc                                                                                                              | CUSIP: 57638PAA2<br>LEI: 549300E0Y4BR5Z9RDZ64 | Long             | DBT              | CORP              | US        |    100000 | PA      | $103342.60    | 0.00%             | 2032-07-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| MACQUARIE AIRFINANCE HLD                                         | Macquarie Airfinance Holdings Ltd                                                                                            | CUSIP: 55609NAB4<br>LEI: 549300MCGUSL5B852H65 | Long             | DBT              | CORP              | GB        |    200000 | PA      | $208203.28    | 0.01%             | 2029-03-30      | Fixed         | 8.13%                 | No            |                  2 | On Loan: No      |
| DOTDASH MEREDITH INC                                             | Dotdash Meredith Inc                                                                                                         | CUSIP: 25849JAA8<br>LEI: 549300R2AA7U9CJUQO13 | Long             | DBT              | CORP              | US        |     90000 | PA      | $89163.00     | 0.00%             | 2032-06-15      | Fixed         | 7.63%                 | No            |                  2 | On Loan: No      |
| POST HOLDINGS INC                                                | Post Holdings Inc                                                                                                            | CUSIP: 737446AV6<br>LEI: JM1I5YUAURL6DC8N1468 | Long             | DBT              | CORP              | US        |    200000 | PA      | $201861.80    | 0.01%             | 2033-03-01      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| ZF EUROPE FINANCE BV                                             | ZF Europe Finance BV                                                                                                         | CUSIP: 000000000<br>LEI: 549300RI533US2G6G542 | Long             | DBT              | CORP              | NL        |    300000 | PA      | $345854.40    | 0.02%             | 2029-01-31      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| SHR Trust                                                        | SHR Trust 2024-LXRY                                                                                                          | CUSIP: 784234AJ5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    163000 | PA      | $164222.45    | 0.01%             | 2041-10-15      | Floating      | 8.60%                 | No            |                  2 | On Loan: No      |
| Citadel Securities LP                                            | Citadel Securities LP 2024 First Lien Term Loan                                                                              | CUSIP: 17288YAN2<br>LEI: 549300NV5RXBUS3X7L47 | Long             | LON              | CORP              | US        |    746241 | PA      | $747456.97    | 0.03%             | 2031-10-31      | Floating      | 6.16%                 | No            |                  2 | On Loan: No      |
| EW SCRIPPS CO                                                    | EW Scripps Co/The                                                                                                            | CUSIP: 811054AH8<br>LEI: 549300U1OW41QPKYW028 | Long             | DBT              | CORP              | US        |     75000 | PA      | $70397.86     | 0.00%             | 2030-08-15      | Fixed         | 9.88%                 | No            |                  2 | On Loan: No      |
| ROCKIES EXPRESS PIPELINE                                         | ROCKIES EXPRESS PIPELINE                                                                                                     | CUSIP: 77340RAU1<br>LEI: W2ZGZGZKY5GGNY6F3V51 | Long             | DBT              | CORP              | US        |    250000 | PA      | $260953.75    | 0.01%             | 2033-03-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| BX Trust                                                         | BX Commercial Mortgage Trust 2022-LP2                                                                                        | CUSIP: 05610HAN3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    105000 | PA      | $104882.85    | 0.00%             | 2039-02-15      | Floating      | 8.26%                 | No            |                  2 | On Loan: No      |
| United States Treasury                                           | U.S. Treasury Notes                                                                                                          | CUSIP: 91282CMC2<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  20340000 | PA      | $21045543.75  | 0.96%             | 2031-12-31      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| JPMorgan Chase Bank NA                                           | PURCHASED USD / SOLD GBP                                                                                                     | CUSIP: 000000000<br>LEI: 7H6GLXDRUGQFU57RNE97 | N/A              | DFE              |  | US        |         1 | NC      | $1602.93      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| HEARTLAND DENTAL LLC                                             | Heartland Dental LLC 2025 Term Loan                                                                                          | CUSIP: 42236WAX5<br>LEI: 5493008FRC0GRKBN1075 | Long             | LON              | CORP              | US        |     64838 | PA      | $64692.26     | 0.00%             | 2032-08-25      | Floating      | 7.91%                 | No            |                  2 | On Loan: No      |
| UKRAINE GOVERNMENT                                               | Ukraine Government International Bond                                                                                        | CUSIP: 903724BZ4<br>LEI: 6354001WLTJXOMEXPY07 | Long             | DBT              | NUSS              | UA        |    150000 | PA      | $103117.43    | 0.00%             | 2029-02-01      | Variable      | 4.50%                 | No            |                  2 | On Loan: No      |
| Bank                                                             | BANK 2018-BNK10                                                                                                              | CUSIP: 065404BE4<br>LEI: 549300GL0Y86051URC66 | Long             | ABS-MBS          | CORP              | US        |    200000 | PA      | $177676.24    | 0.01%             | 2061-02-15      | Variable      | 4.16%                 | No            |                  2 | On Loan: No      |
| ALPHA GENERATION LLC                                             | Alpha Generation LLC                                                                                                         | CUSIP: 02073LAA9<br>LEI: 254900K5V62L4YGVKF49 | Long             | DBT              | CORP              | US        |     50000 | PA      | $51614.52     | 0.00%             | 2032-10-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| BX Trust                                                         | BX Trust 2022-VAMF                                                                                                           | CUSIP: 05609TAL4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    250000 | PA      | $248698.38    | 0.01%             | 2039-01-15      | Floating      | 7.45%                 | No            |                  2 | On Loan: No      |
| X.AI Corp                                                        | XAI Corp Term Loan                                                                                                           | CUSIP: 98402XAC9<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    354225 | PA      | $342269.91    | 0.02%             | 2030-06-28      | Floating      | 11.12%                | No            |                  2 | On Loan: No      |
| BELRON UK FINANCE PLC                                            | Belron UK Finance PLC                                                                                                        | CUSIP: 080782AA3<br>LEI: 9845006BC9D1A77B8178 | Long             | DBT              | CORP              | GB        |    135000 | PA      | $136759.59    | 0.01%             | 2029-10-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| CIM Trust                                                        | CIM Trust 2021-R3                                                                                                            | CUSIP: 12566LAB0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1607338 | PA      | $1489911.84   | 0.07%             | 2057-06-25      | Variable      | 1.95%                 | No            |                  2 | On Loan: No      |
| NRG ENERGY INC                                                   | NRG Energy Inc                                                                                                               | CUSIP: 629377DD1<br>LEI: 5E2UPK5SW04M13XY7I38 | Long             | DBT              | CORP              | US        |    210000 | PA      | $210030.16    | 0.01%             | 2036-01-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| GS Mortgage Securities Trust                                     | GS Mortgage Securities Trust 2019-GSA1                                                                                       | CUSIP: 36261PAZ5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    125000 | PA      | $113842.80    | 0.01%             | 2052-11-10      | Variable      | 3.93%                 | No            |                  2 | On Loan: No      |
| Oportun Funding LLC                                              | Oportun Issuance Trust 2025-B                                                                                                | CUSIP: 68378QAA1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    300000 | PA      | $301972.26    | 0.01%             | 2033-05-09      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                         | Ginnie Mae II Pool                                                                                                           | CUSIP: 3618N5AX7<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   1850055 | PA      | $1652750.13   | 0.08%             | 2054-11-20      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Beechwood Park CLO Ltd.                                          | Beechwood Park CLO Ltd                                                                                                       | CUSIP: 07355TAU6<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |  10000000 | PA      | $10018600.00  | 0.46%             | 2035-01-17      | Floating      | 5.62%                 | No            |                  2 | On Loan: No      |
| BX Trust                                                         | BX 2021-MFM1                                                                                                                 | CUSIP: 05608VAN6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    238000 | PA      | $237958.37    | 0.01%             | 2034-01-15      | Floating      | 7.26%                 | No            |                  2 | On Loan: No      |
| Merit                                                            | MHP Commercial Mortgage Trust 2025-MHIL2                                                                                     | CUSIP: 59317DAA3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1134000 | PA      | $1134706.37   | 0.05%             | 2040-09-15      | Floating      | 5.65%                 | No            |                  2 | On Loan: No      |
| CARNIVAL CORP                                                    | Carnival Corp                                                                                                                | CUSIP: 143658BR2<br>LEI: F1OF2ZSX47CR0BCWA982 | Long             | DBT              | CORP              | PA        |    200000 | PA      | $202985.20    | 0.01%             | 2029-05-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Dave & Buster's Inc                                              | Dave & Buster's Inc 2024 Term Loan B                                                                                         | CUSIP: 23833EAX2<br>LEI: 549300JAVWTAY1FT5Z45 | Long             | LON              | CORP              | US        |    500000 | PA      | $465965.00    | 0.02%             | 2029-06-29      | Floating      | 7.56%                 | No            |                  2 | On Loan: No      |
| X Corp.                                                          | X Corp 2025 Fixed Term Loan                                                                                                  | CUSIP: 90184NAK4<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   1510000 | PA      | $1513563.60   | 0.07%             | 2029-10-26      | Fixed         | 9.50%                 | No            |                  2 | On Loan: No      |
| BX Trust                                                         | BX Trust 2025-VLT7                                                                                                           | CUSIP: 123913AG0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    250000 | PA      | $251872.95    | 0.01%             | 2044-07-15      | Floating      | 7.40%                 | No            |                  2 | On Loan: No      |
| Petroleos Mexicanos                                              | Petroleos Mexicanos                                                                                                          | CUSIP: 71654QCG5<br>LEI: 549300CAZKPF4HKMPX17 | Long             | DBT              | CORP              | MX        |    250000 | PA      | $253125.00    | 0.01%             | 2027-03-13      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Petroleos Mexicanos                                              | Petroleos Mexicanos                                                                                                          | CUSIP: 71643VAB1<br>LEI: 549300CAZKPF4HKMPX17 | Long             | DBT              | CORP              | MX        |    165000 | PA      | $163515.50    | 0.01%             | 2032-02-16      | Fixed         | 6.70%                 | No            |                  2 | On Loan: No      |
| Bank of America NA                                               | PURCHASED USD / SOLD EUR                                                                                                     | CUSIP: 000000000<br>LEI: B4TYDEB6GKMZO031MB27 | N/A              | DFE              |  | US        |         1 | NC      | $156.43       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| FHLMC Structured Pass Through Securities                         | Freddie Mac Structured Pass-Through Certificates                                                                             | CUSIP: 31394JY35<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |      1280 | PA      | $1345.96      | 0.00%             | 2043-09-25      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Bank of America NA                                               | PURCHASED EUR / SOLD USD                                                                                                     | CUSIP: 000000000<br>LEI: B4TYDEB6GKMZO031MB27 | N/A              | DFE              |  | XX        |         1 | NC      | $30.37        | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| ANYWHERE RE GRP/REALOGY                                          | Anywhere Real Estate Group LLC / Realogy Co-Issuer Corp                                                                      | CUSIP: 75606DAL5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     80000 | PA      | $76888.01     | 0.00%             | 2029-01-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| BENCHMARK Mortgage Trust                                         | Benchmark 2022-B33 Mortgage Trust                                                                                            | CUSIP: 08163PBN9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    200000 | PA      | $158580.54    | 0.01%             | 2055-03-15      | Variable      | 3.73%                 | No            |                  2 | On Loan: No      |
| Republic of South Africa Government International Bonds          | Republic of South Africa Government International Bonds                                                                      | CUSIP: 836205AV6<br>LEI: 378900AAFB4F17004C49 | Long             | DBT              | NUSS              | ZA        |    150000 | PA      | $112256.15    | 0.01%             | 2046-10-12      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SAUDI ARABIAN OIL CO                                             | Saudi Arabian Oil Co                                                                                                         | CUSIP: 80414L2K0<br>LEI: 5586006WD91QHB7J4X50 | Long             | DBT              | CORP              | SA        |    300000 | PA      | $271047.00    | 0.01%             | 2030-11-24      | Fixed         | 2.25%                 | No            |                  2 | On Loan: No      |
| UMBS, TBA                                                        | Uniform Mortgage-Backed Security, TBA                                                                                        | CUSIP: 01F0206A2<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |   5575000 | PA      | $4492136.31   | 0.21%             | 2055-10-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| SUNNOVA ENERGY CORP                                              | Sunnova Energy Corp                                                                                                          | CUSIP: 86745GAF0<br>LEI: 549300TH3GCD8YQUDR46 | Long             | DBT              | CORP              | US        |    280000 | PA      | $700.00       | 0.00%             | 2026-09-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| XPO INC                                                          | XPO Inc                                                                                                                      | CUSIP: 983793AK6<br>LEI: 54930096DB9LCLPN7H13 | Long             | DBT              | CORP              | US        |    200000 | PA      | $210046.60    | 0.01%             | 2032-02-01      | Fixed         | 7.13%                 | No            |                  2 | On Loan: No      |
| United States Treasury                                           | U.S. Treasury Bonds                                                                                                          | CUSIP: 912810UF3<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  32220000 | PA      | $31920454.53  | 1.46%             | 2044-11-15      | Fixed         | 4.63%                 | No            |                  2 | On Loan: No      |
| AES CORP/THE                                                     | AES Corp/The                                                                                                                 | CUSIP: 00130HCG8<br>LEI: 2NUNNB7D43COUIRE5295 | Long             | DBT              | CORP              | US        |   4990000 | PA      | $4468752.53   | 0.20%             | 2031-01-15      | Fixed         | 2.45%                 | No            |                  2 | On Loan: No      |
| KFW                                                              | Kreditanstalt fuer Wiederaufbau                                                                                              | CUSIP: 000000000<br>LEI: 549300GDPG70E3MBBU98 | Long             | DBT              | CORP              | DE        |    495000 | PA      | $497402.50    | 0.02%             | 2032-01-09      | Fixed         | 0.13%                 | No            |                  2 | On Loan: No      |
| MACQUARIE AIRFINANCE HLD                                         | Macquarie Airfinance Holdings Ltd                                                                                            | CUSIP: 55609NAD0<br>LEI: 549300MCGUSL5B852H65 | Long             | DBT              | CORP              | GB        |    150000 | PA      | $160680.63    | 0.01%             | 2031-03-26      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| HAT HOLDINGS I LLC/HAT                                           | HAT Holdings I LLC / HAT Holdings II LLC                                                                                     | CUSIP: 418751AE3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     43000 | PA      | $42579.89     | 0.00%             | 2026-06-15      | Fixed         | 3.38%                 | No            |                  2 | On Loan: No      |
| KAZMUNAYGAS NATIONAL CO                                          | KazMunayGas National Co JSC                                                                                                  | CUSIP: 48667QAP0<br>LEI: 2138001H1M69RFJCSH88 | Long             | DBT              | CORP              | KZ        |     50000 | PA      | $46561.61     | 0.00%             | 2047-04-19      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF GUATEMALA                                            | Guatemala Government Bond                                                                                                    | CUSIP: 401494BA6<br>LEI: 529900QKDFFU9UWW5315 | Long             | DBT              | NUSS              | GT        |    200000 | PA      | $206436.00    | 0.01%             | 2036-08-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| Morgan Stanley Capital I Trust                                   | Morgan Stanley Capital I Trust 2017-H1                                                                                       | CUSIP: 61691JBA1<br>LEI: 3IFG42XD94UUZ7FL2766 | Long             | ABS-MBS          | CORP              | US        |    125000 | PA      | $117214.00    | 0.01%             | 2050-06-15      | Variable      | 4.28%                 | No            |                  2 | On Loan: No      |
| PG&E CORP                                                        | PG&E Corp                                                                                                                    | CUSIP: 69331CAM0<br>LEI: 8YQ2GSDWYZXO2EDN3511 | Long             | DBT              | CORP              | US        |    291000 | PA      | $298958.86    | 0.01%             | 2055-03-15      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| JPMorgan Securities LLC                                          | Long: LFQ672000 CDS EUR R V 03MEVENT LFQ672000_PRO CORPORATE / Short: LFQ672000 CDS EUR P F  1.00000 LFQ672000_FEE CORPORATE | CUSIP: 000000000<br>LEI: ZBUT11V806EZRVTWT807 | N/A              | DCR              |  | US        |    250000 | OU      | $-1784.33     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Oportun Funding LLC                                              | Oportun Issuance Trust 2025-C                                                                                                | CUSIP: 68378RAA9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1100000 | PA      | $1104305.07   | 0.05%             | 2033-07-08      | Fixed         | 4.49%                 | No            |                  2 | On Loan: No      |
| SILK ROAD GROUP HOLDING                                          | Silk Road Group Holding LLC                                                                                                  | CUSIP: 82710NAA6<br>LEI: 254900J9KTY8FE4C8227 | Long             | DBT              | CORP              | GE        |    200000 | PA      | $201385.60    | 0.01%             | 2030-09-15      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| BX Trust                                                         | BX Trust 2025-ROIC                                                                                                           | CUSIP: 05593VAN3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    124514 | PA      | $124202.97    | 0.01%             | 2030-03-15      | Floating      | 7.09%                 | No            |                  2 | On Loan: No      |
| Flatiron CLO Ltd                                                 | Flatiron CLO 20 Ltd                                                                                                          | CUSIP: 33883MAU8<br>LEI: 25490077CXFU133A8B24 | Long             | ABS-CBDO         | CORP              | KY        |   1868000 | PA      | $1868000.00   | 0.09%             | 2038-11-20      | Floating      | 0.00%                 | No            |                  2 | On Loan: No      |
| VERISK ANALYTICS INC                                             | Verisk Analytics Inc                                                                                                         | CUSIP: 92345YAN6<br>LEI: 549300I1YSWNIRKBWP67 | Long             | DBT              | CORP              | US        |    999000 | PA      | $1008238.42   | 0.05%             | 2036-02-15      | Fixed         | 5.13%                 | No            |                  2 | On Loan: No      |
| State of Qatar                                                   | Qatar Government International Bond                                                                                          | CUSIP: 74727PBB6<br>LEI: 52990074F6OJOAXK4P65 | Long             | DBT              | NUSS              | QA        |    250000 | PA      | $238110.24    | 0.01%             | 2049-03-14      | Fixed         | 4.82%                 | No            |                  2 | On Loan: No      |
| SUNOCO LP/FINANCE CORP                                           | Sunoco LP / Sunoco Finance Corp                                                                                              | CUSIP: 86765LAT4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    200000 | PA      | $195108.50    | 0.01%             | 2029-05-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| CVS HEALTH CORP                                                  | CVS Health Corp                                                                                                              | CUSIP: 126650EH9<br>LEI: 549300EJG376EN5NQE29 | Long             | DBT              | CORP              | US        |    350000 | PA      | $367410.03    | 0.02%             | 2055-03-10      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| Hexion Holdings Corporation                                      | Hexion Holdings Corporation 2022 USD 2nd Lien Term Loan                                                                      | CUSIP: 42829JAB5<br>LEI: 549300LBB370MUHGLV84 | Long             | LON              | CORP              | US        |     75000 | PA      | $73912.50     | 0.00%             | 2030-03-15      | Floating      | 11.70%                | No            |                  2 | On Loan: No      |
| CLOUD SOFTWARE GRP INC                                           | Cloud Software Group Inc                                                                                                     | CUSIP: 18912UAC6<br>LEI: 04EEB871XLHVNY4RZJ65 | Long             | DBT              | CORP              | US        |    300000 | PA      | $318226.01    | 0.01%             | 2032-06-30      | Fixed         | 8.25%                 | No            |                  2 | On Loan: No      |
| WELLS FARGO & COMPANY                                            | Wells Fargo & Co                                                                                                             | CUSIP: 95000U3P6<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | DBT              | CORP              | US        |   1850000 | PA      | $1914024.41   | 0.09%             | 2031-01-24      | Fixed         | 5.24%                 | No            |                  2 | On Loan: No      |
| SAAVI ENERGIA SARL                                               | Saavi Energia Sarl                                                                                                           | CUSIP: 78518PAA3<br>LEI: 254900A2V0IO8K56UH35 | Long             | DBT              | CORP              | LU        |    250000 | PA      | $269050.00    | 0.01%             | 2035-02-10      | Fixed         | 8.88%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF SOUTH AFRICA                                         | Republic of South Africa Government International Bond                                                                       | CUSIP: 836205BF0<br>LEI: 378900AAFB4F17004C49 | Long             | DBT              | NUSS              | ZA        |    300000 | PA      | $312753.76    | 0.01%             | 2036-11-19      | Fixed         | 7.10%                 | No            |                  2 | On Loan: No      |
| MINERAL RESOURCES LTD                                            | Mineral Resources Ltd                                                                                                        | CUSIP: 603051AF0<br>LEI: 5299007V1ACKFFX2P066 | Long             | DBT              | CORP              | AU        |     75000 | PA      | $75970.20     | 0.00%             | 2031-04-01      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| GS Mortgage Securities Trust                                     | GS Mortgage Securities Corp Trust 2025-800D                                                                                  | CUSIP: 36273XAA9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    120000 | PA      | $120319.44    | 0.01%             | 2041-11-25      | Floating      | 6.79%                 | No            |                  2 | On Loan: No      |
| LONDON POWER NETWORKS                                            | London Power Networks PLC                                                                                                    | CUSIP: 000000000<br>LEI: 213800JDI3GTKPG4XI38 | Long             | DBT              | CORP              | GB        |    100000 | PA      | $117136.30    | 0.01%             | 2037-06-11      | Fixed         | 3.84%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                       | Fannie Mae Pool                                                                                                              | CUSIP: 3140Y6NW6<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   5548145 | PA      | $5752224.38   | 0.26%             | 2055-05-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| BX Trust                                                         | BX Trust 2025-DIME                                                                                                           | CUSIP: 05613UAA9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1313000 | PA      | $1310127.42   | 0.06%             | 2035-02-15      | Floating      | 5.30%                 | No            |                  2 | On Loan: No      |
| CHEMOURS CO                                                      | Chemours Co/The                                                                                                              | CUSIP: 163851AJ7<br>LEI: 549300M1BOLNXL8DOV14 | Long             | DBT              | CORP              | US        |    175000 | PA      | $174066.27    | 0.01%             | 2033-01-15      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| Canada Government Bonds                                          | Canada Government Bonds                                                                                                      | CUSIP: 135087M27<br>LEI: 4BFD7AQU0A75QLAHK410 | Long             | DBT              | NUSS              | CA        |     25000 | PA      | $16724.87     | 0.00%             | 2031-06-01      | Fixed         | 1.50%                 | No            |                  2 | On Loan: No      |
| NISOURCE INC                                                     | NiSource Inc                                                                                                                 | CUSIP: 65473PAH8<br>LEI: 549300D8GOWWH0SJB189 | Long             | DBT              | CORP              | US        |   4540000 | PA      | $4330939.36   | 0.20%             | 2029-09-01      | Fixed         | 2.95%                 | No            |                  2 | On Loan: No      |
| Vistra Operations Company LLC                                    | Vistra Operations Company LLC 1st Lien Term Loan B3                                                                          | CUSIP: 88233FAK6<br>LEI: 549300ZH5GKBTJZ7NM23 | Long             | LON              | CORP              | US        |    497468 | PA      | $497861.36    | 0.02%             | 2030-12-20      | Floating      | 5.91%                 | No            |                  2 | On Loan: No      |
| HCA INC                                                          | HCA Inc                                                                                                                      | CUSIP: 404121AK1<br>LEI: L3CJ6J7LJ2DX62FTXD46 | Long             | DBT              | CORP              | US        |   2610000 | PA      | $2677313.02   | 0.12%             | 2034-09-15      | Fixed         | 5.45%                 | No            |                  2 | On Loan: No      |
| RED PLANET BORROWER LLC                                          | RED PLANET BORROWER LLC 2025 TERM LOAN B                                                                                     | CUSIP: 57165KAE6<br>LEI: 254900LGTHBRY5NA0C90 | Long             | LON              | CORP              | US        |    330000 | PA      | $320677.50    | 0.01%             | 2032-09-08      | Floating      | 8.16%                 | No            |                  2 | On Loan: No      |
| LBM ACQUISITION LLC                                              | LBM Acquisition LLC 2025 Incremental Term Loan                                                                               | CUSIP: 50179JAK4<br>LEI: 549300FAEB3VWZL4NI86 | Long             | LON              | CORP              | US        |    218938 | PA      | $217882.33    | 0.01%             | 2031-06-06      | Floating      | 9.14%                 | No            |                  2 | On Loan: No      |
| BANCO MERCANTIL DE NORTE                                         | Banco Mercantil del Norte SA/Grand Cayman                                                                                    | CUSIP: 05962GAJ8<br>LEI: 549300QTVYRPFHS0J362 | Long             | DBT              | CORP              | MX        |    250000 | PA      | $256485.25    | 0.01%             | 2028-01-10      | Fixed         | 7.63%                 | No            |                  2 | On Loan: No      |
| COREBRIDGE FINANCIAL INC                                         | Corebridge Financial Inc                                                                                                     | CUSIP: 21871XAH2<br>LEI: 549300XY1661QCIA7J65 | Long             | DBT              | CORP              | US        |   4670000 | PA      | $4458917.17   | 0.20%             | 2032-04-05      | Fixed         | 3.90%                 | No            |                  2 | On Loan: No      |
| SWCH Commercial Mortgage Trust                                   | SWCH Commercial Mortgage Trust 2025-DATA                                                                                     | CUSIP: 78489CAF6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    250000 | PA      | $248749.88    | 0.01%             | 2042-02-15      | Floating      | 8.39%                 | No            |                  2 | On Loan: No      |
| UKRAINE GOVERNMENT                                               | Ukraine Government International Bond                                                                                        | CUSIP: 903724CE0<br>LEI: 6354001WLTJXOMEXPY07 | Long             | DBT              | NUSS              | UA        |     81644 | PA      | $33856.47     | 0.00%             | 2034-02-01      | Variable      | 0.00%                 | No            |                  2 | On Loan: No      |
| COMMONWEALTH OF BAHAMAS                                          | Bahamas Government International Bond                                                                                        | CUSIP: 056732AP5<br>LEI: 549300W13SXC7EKNJC20 | Long             | DBT              | NUSS              | BS        |    200000 | PA      | $215912.00    | 0.01%             | 2036-06-24      | Fixed         | 8.25%                 | No            |                  2 | On Loan: No      |
| TTM TECHNOLOGIES INC                                             | TTM Technologies Inc 2024 Term Loan B                                                                                        | CUSIP: 87305VAN0<br>LEI: 549300SC4BDOIS008048 | Long             | LON              | CORP              | US        |    249370 | PA      | $249993.71    | 0.01%             | 2030-05-30      | Floating      | 6.53%                 | No            |                  2 | On Loan: No      |
| CAPSTONE COPPER CORP                                             | Capstone Copper Corp                                                                                                         | CUSIP: 14071LAA6<br>LEI: 549300III6KGKKC42W63 | Long             | DBT              | CORP              | CA        |    110000 | PA      | $113303.19    | 0.01%             | 2033-03-31      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| LIGHT & WONDER INTL INC                                          | Light & Wonder International Inc                                                                                             | CUSIP: 531968AB1<br>LEI: RLTHESQ0RNFQJWPBJN60 | Long             | DBT              | CORP              | US        |    205000 | PA      | $205348.50    | 0.01%             | 2033-10-01      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| TRANSOCEAN INC                                                   | Transocean International Ltd                                                                                                 | CUSIP: 893830BY4<br>LEI: DOL4HJ22ADYSIWES4H94 | Long             | DBT              | CORP              | BM        |    150000 | PA      | $147879.93    | 0.01%             | 2029-05-15      | Fixed         | 8.25%                 | No            |                  2 | On Loan: No      |
| KROGER CO                                                        | Kroger Co/The                                                                                                                | CUSIP: 501044DV0<br>LEI: 6CPEOKI6OYJ13Q6O7870 | Long             | DBT              | CORP              | US        |   4340000 | PA      | $4376845.17   | 0.20%             | 2034-09-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LCH Ltd.                                                         | Long: BOT402000 IRS USD R V 12MSOFR LOT402000_FLO CCPOIS / Short: BOT402000 IRS USD P F  3.50000 LOT402000_FIX CCPOIS        | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | US        |  26300000 | OU      | $-156510.51   | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| MARS INC                                                         | Mars Inc                                                                                                                     | CUSIP: 571676AY1<br>LEI: 54930073HKEO6GZBSS03 | Long             | DBT              | CORP              | US        |   7595000 | PA      | $7737613.06   | 0.35%             | 2030-03-01      | Fixed         | 4.80%                 | No            |                  2 | On Loan: No      |
| HUB INTERNATIONAL LIMITED                                        | HUB International Limited 2025 Term Loan B                                                                                   | CUSIP: 44332EAZ9<br>LEI: 549300JQT6ATTUNS5E06 | Long             | LON              | CORP              | US        |    851062 | PA      | $852100.23    | 0.04%             | 2030-06-20      | Floating      | 6.58%                 | No            |                  2 | On Loan: No      |
| Asurion LLC                                                      | Asurion LLC 2021 Second Lien Term Loan B4                                                                                    | CUSIP: 04649VBA7<br>LEI: 549300KNQVXGIOXWK278 | Long             | LON              | CORP              | US        |   1000000 | PA      | $955140.00    | 0.04%             | 2029-01-20      | Floating      | 9.53%                 | No            |                  2 | On Loan: No      |
| European Union                                                   | European Union                                                                                                               | CUSIP: 000000000<br>LEI: 529900FZRK8FGMPEOM08 | Long             | DBT              | NUSS              | XX        |     72000 | PA      | $76574.68     | 0.00%             | 2031-04-04      | Fixed         | 0.75%                 | No            |                  2 | On Loan: No      |
| STATION CASINOS LLC                                              | Station Casinos LLC                                                                                                          | CUSIP: 857691AJ8<br>LEI: 5493004E7Q60TX54WL62 | Long             | DBT              | CORP              | US        |    100000 | PA      | $102724.40    | 0.00%             | 2032-03-15      | Fixed         | 6.63%                 | No            |                  2 | On Loan: No      |
| DREAM FINDERS HOMES INC                                          | Dream Finders Homes Inc                                                                                                      | CUSIP: 26154DAB6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    135000 | PA      | $135803.25    | 0.01%             | 2030-09-15      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| Symphony CLO Ltd                                                 | Symphony CLO XXVI Ltd                                                                                                        | CUSIP: 87190GAC5<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   7680417 | PA      | $7682252.78   | 0.35%             | 2033-04-20      | Floating      | 5.67%                 | No            |                  2 | On Loan: No      |
| Bank5                                                            | BANK5 2025-5YR16                                                                                                             | CUSIP: 065934BE0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   2000000 | PA      | $37969.60     | 0.00%             | 2063-08-15      | Variable      | 0.55%                 | No            |                  2 | On Loan: No      |
| ARCIS GOLF LLC                                                   | Arcis Golf LLC 2025 Term Loan B                                                                                              | CUSIP: 03958MAF4<br>LEI: 254900ZMGXNNIX4SXQ48 | Long             | LON              | CORP              | US        |    248832 | PA      | $248988.32    | 0.01%             | 2028-11-24      | Floating      | 6.91%                 | No            |                  2 | On Loan: No      |
| DELEK LOG PART/FINANCE                                           | Delek Logistics Partners LP / Delek Logistics Finance Corp                                                                   | CUSIP: 24665FAE2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     65000 | PA      | $66098.25     | 0.00%             | 2033-06-30      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| TRANSDIGM INC                                                    | TransDigm Inc                                                                                                                | CUSIP: 893647BV8<br>LEI: 88Q84GB3X55CF5OC7582 | Long             | DBT              | CORP              | US        |    100000 | PA      | $102954.50    | 0.00%             | 2032-03-01      | Fixed         | 6.63%                 | No            |                  2 | On Loan: No      |
| NEWELL BRANDS INC                                                | Newell Brands Inc                                                                                                            | CUSIP: 651229BG0<br>LEI: 549300LWGYFM1TVO1Z12 | Long             | DBT              | CORP              | US        |    200000 | PA      | $211547.20    | 0.01%             | 2028-06-01      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| DISCOVERY COMMUNICATIONS                                         | Discovery Communications LLC                                                                                                 | CUSIP: 25470DBY4<br>LEI: L2Z2MO2EQURH3BREWI15 | Long             | DBT              | CORP              | US        |     65000 | PA      | $55772.60     | 0.00%             | 2037-09-20      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| UKRAINE GOVERNMENT                                               | Ukraine Government International Bond                                                                                        | CUSIP: 903724CD2<br>LEI: 6354001WLTJXOMEXPY07 | Long             | DBT              | NUSS              | UA        |     21848 | PA      | $11470.91     | 0.00%             | 2030-02-01      | Variable      | 0.00%                 | No            |                  2 | On Loan: No      |
| LCH Ltd.                                                         | Long: BOT412000 IRS USD R V 12MSOFR LOT412000_FLO CCPOIS / Short: BOT412000 IRS USD P F  3.75000 LOT412000_FIX CCPOIS        | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | US        |   3146000 | OU      | $-51303.99    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Colombia Government International Bonds                          | Colombia Government International Bonds                                                                                      | CUSIP: 195325DQ5<br>LEI: 549300MHDRBVRF6B9117 | Long             | DBT              | NUSS              | CO        |    200000 | PA      | $150070.00    | 0.01%             | 2049-05-15      | Fixed         | 5.20%                 | No            |                  2 | On Loan: No      |
| BX Trust                                                         | BX Commercial Mortgage Trust 2024-MF                                                                                         | CUSIP: 05612EAG3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    177091 | PA      | $177518.11    | 0.01%             | 2039-02-15      | Floating      | 6.84%                 | No            |                  2 | On Loan: No      |
| TORONTO-DOMINION BANK                                            | Toronto-Dominion Bank/The                                                                                                    | CUSIP: 000000000<br>LEI: PT3QB789TSUIDF371261 | Long             | DBT              | CORP              | CA        |    184000 | PA      | $215278.95    | 0.01%             | 2032-09-22      | Fixed         | 3.36%                 | No            |                  2 | On Loan: No      |
| RACKSPACE FINANCE LLC                                            | Rackspace Finance LLC                                                                                                        | CUSIP: 75008WAA1<br>LEI: 549300QTYCKLMFSE8I97 | Long             | DBT              | CORP              | US        |    250000 | PA      | $103485.00    | 0.00%             | 2028-05-15      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| MEDLINE BORROWER LP                                              | Medline Borrower LP 2025 Term Loan B                                                                                         | CUSIP: 58503UAH6<br>LEI: 254900QT3R363TVK6F09 | Long             | LON              | CORP              | US        |   1211889 | PA      | $1211816.32   | 0.06%             | 2028-10-23      | Floating      | 6.16%                 | No            |                  2 | On Loan: No      |
| BIFM US FINANCE LLC                                              | BIFM US Finance LLC 2024 Incremental Term Loan                                                                               | CUSIP: 000000000<br>LEI: 5493004RP2P0NY84N260 | Long             | LON              | CORP              | CA        |    154611 | PA      | $154997.08    | 0.01%             | 2028-05-31      | Floating      | 7.91%                 | No            |                  2 | On Loan: No      |
| BEACH ACQUISITION BIDCO LLC                                      | BEACH ACQUISITION BIDCO LLC USD TERM LOAN B                                                                                  | CUSIP: 07337FAB1<br>LEI: 254900F2FNX3GBTB6202 | Long             | LON              | CORP              | US        |    155000 | PA      | $155646.35    | 0.01%             | 2032-09-12      | Floating      | 7.31%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                      | Freddie Mac Pool                                                                                                             | CUSIP: 3132DPCK2<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   4066716 | PA      | $4143410.04   | 0.19%             | 2052-11-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| KUEHG CORP                                                       | KUEHG Corp 2025 Term Loan                                                                                                    | CUSIP: 50118YAH2<br>LEI: 549300YNT566T1NYJX62 | Long             | LON              | CORP              | US        |    248750 | PA      | $248491.30    | 0.01%             | 2030-06-12      | Floating      | 6.75%                 | No            |                  2 | On Loan: No      |
| Goldman Sachs Bank USA                                           | PURCHASED USD / SOLD EUR                                                                                                     | CUSIP: 000000000<br>LEI: KD3XUN7C6T14HNAYLU02 | N/A              | DFE              |  | US        |         1 | NC      | $-837.06      | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| HSBC HOLDINGS PLC                                                | HSBC Holdings PLC                                                                                                            | CUSIP: 000000000<br>LEI: MLU0ZO3ML4LN2LL2TL39 | Long             | DBT              | CORP              | GB        |    125000 | PA      | $172858.66    | 0.01%             | 2033-05-22      | Fixed         | 5.81%                 | No            |                  2 | On Loan: No      |
| Goldman Sachs Bank USA                                           | Long: LFQ627000 CDS EUR R V 03MEVENT LFQ627000_PRO CORPORATE / Short: LFQ627000 CDS EUR P F  1.00000 LFQ627000_FEE CORPORATE | CUSIP: 000000000<br>LEI: KD3XUN7C6T14HNAYLU02 | N/A              | DCR              |  | US        |    250000 | OU      | $-650.50      | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| AXIAN TELE HOLD PLC                                              | Axian Telecom Holding & Management PLC                                                                                       | CUSIP: 05465QAA7<br>LEI: 984500B7DCD97EB04857 | Long             | DBT              | CORP              | AE        |    335000 | PA      | $343034.88    | 0.02%             | 2030-07-11      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| United States Treasury                                           | U.S. Treasury Bonds                                                                                                          | CUSIP: 912810UL0<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    610000 | PA      | $633446.88    | 0.03%             | 2045-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MAYA SAS/FRANCE                                                  | Maya SAS/Paris France                                                                                                        | CUSIP: 449691AF1<br>LEI: 9695009PXA7OI9NXN582 | Long             | DBT              | CORP              | FR        |    175000 | PA      | $187686.28    | 0.01%             | 2031-04-15      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| METHANEX CORP                                                    | Methanex Corp                                                                                                                | CUSIP: 59151KAM0<br>LEI: 549300TSJHRXT9QXRD13 | Long             | DBT              | CORP              | CA        |    400000 | PA      | $400465.20    | 0.02%             | 2027-10-15      | Fixed         | 5.13%                 | No            |                  2 | On Loan: No      |
| ARES CLO Ltd                                                     | Ares LIV CLO Ltd                                                                                                             | CUSIP: 04017WAW2<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    953000 | PA      | $957276.11    | 0.04%             | 2038-07-15      | Floating      | 5.62%                 | No            |                  2 | On Loan: No      |
| WILLIAMS SCOTSMAN INC                                            | Williams Scotsman Inc                                                                                                        | CUSIP: 96949VAN3<br>LEI: 549300DAKDS8SCO1OT57 | Long             | DBT              | CORP              | US        |     75000 | PA      | $77194.88     | 0.00%             | 2030-04-15      | Fixed         | 6.63%                 | No            |                  2 | On Loan: No      |
| BRITISH AMERICAN TOBACCO                                         | British American Tobacco PLC                                                                                                 | CUSIP: 000000000<br>LEI: 213800FKA5MF17RJKT63 | Long             | DBT              | CORP              | GB        |    362000 | PA      | $424217.95    | 0.02%             | 2026-09-27      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| CONTOURGLOBAL POWER HLDG                                         | ContourGlobal Power Holdings SA                                                                                              | CUSIP: 21220LAB9<br>LEI: 549300O5AGIFK0PQ1516 | Long             | DBT              | CORP              | LU        |    150000 | PA      | $155811.00    | 0.01%             | 2030-02-28      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| Goldman Sachs & Co. LLC                                          | LQC720000 SWAPTION                                                                                                           | CUSIP: 000000000<br>LEI: FOR8UP27PHTHYVLBNG30 | N/A              | DIR              |  | US        |   1790000 | NC      | $47205.54     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Esdec Solar Group BV                                             | Esdec Solar Group BV Term Loan B                                                                                             | CUSIP: 000000000<br>LEI: 724500UTJRTIU7878U15 | Long             | LON              | CORP              | NL        |    738464 | PA      | $384001.34    | 0.02%             | 2028-08-30      | Floating      | 9.26%                 | No            |                  2 | On Loan: No      |
| STARWOOD PROPERTY TRUST                                          | Starwood Property Trust Inc                                                                                                  | CUSIP: 85571BBG9<br>LEI: BUGSFQZERKRBFWIG5267 | Long             | DBT              |  | US        |    140000 | PA      | $139912.90    | 0.01%             | 2031-01-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| CORNERSTONE BUILDING                                             | Cornerstone Building Brands Inc                                                                                              | CUSIP: 21925DAA7<br>LEI: 549300IW41QEWQ6T0H29 | Long             | DBT              | CORP              | US        |     80000 | PA      | $65011.89     | 0.00%             | 2029-01-15      | Fixed         | 6.13%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                       | Fannie Mae Pool                                                                                                              | CUSIP: 31418EKT6<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    663135 | PA      | $646060.70    | 0.03%             | 2052-11-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| COREWEAVE INC                                                    | CoreWeave Inc                                                                                                                | CUSIP: 21873SAB4<br>LEI: 984500511DP2B6186053 | Long             | DBT              | CORP              | US        |    265000 | PA      | $273690.41    | 0.01%             | 2030-06-01      | Fixed         | 9.25%                 | No            |                  2 | On Loan: No      |
| GRAN TIERRA ENERGY INC                                           | Gran Tierra Energy Inc                                                                                                       | CUSIP: 38500TAC5<br>LEI: 549300IH2S17MAIUCM32 | Long             | DBT              | CORP              | US        |    235000 | PA      | $198855.51    | 0.01%             | 2029-10-15      | Fixed         | 9.50%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                      | Freddie Mac Pool                                                                                                             | CUSIP: 3132DWAW3<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   6163158 | PA      | $5015450.18   | 0.23%             | 2051-01-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| CARNIVAL CORP                                                    | Carnival Corp                                                                                                                | CUSIP: 143658CA8<br>LEI: F1OF2ZSX47CR0BCWA982 | Long             | DBT              | CORP              | PA        |    135000 | PA      | $137386.53    | 0.01%             | 2032-08-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| WHATABRANDS LLC                                                  | Whatabrands LLC 2024 1st Lien Term Loan B                                                                                    | CUSIP: 96244UAJ6<br>LEI: 254900HMMX4HTWIP0085 | Long             | LON              | CORP              | US        |    497494 | PA      | $497747.46    | 0.02%             | 2028-08-03      | Floating      | 6.66%                 | No            |                  2 | On Loan: No      |
| Flatiron CLO Ltd                                                 | Flatiron CLO 32 Ltd                                                                                                          | CUSIP: 33882RAA2<br>LEI: 254900C27X485MIHBY47 | Long             | ABS-CBDO         | CORP              | KY        |   1242000 | PA      | $1247370.41   | 0.06%             | 2038-10-22      | Floating      | 5.61%                 | No            |                  2 | On Loan: No      |
| Peru Government International Bonds                              | Peru Government International Bonds                                                                                          | CUSIP: 715638DF6<br>LEI: 254900STKLK2DBJJZ530 | Long             | DBT              | NUSS              | PE        |    150000 | PA      | $138120.00    | 0.01%             | 2031-01-23      | Fixed         | 2.78%                 | No            |                  2 | On Loan: No      |
| HILTON DOMESTIC OPERATIN                                         | Hilton Domestic Operating Co Inc                                                                                             | CUSIP: 432833AL5<br>LEI: 5493003EG7H0N1E4XV50 | Long             | DBT              | CORP              | US        |    200000 | PA      | $189246.14    | 0.01%             | 2031-05-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| EG GLOBAL FINANCE PLC                                            | EG Global Finance PLC                                                                                                        | CUSIP: 28228PAC5<br>LEI: 549300TL8Q5207VYET27 | Long             | DBT              | CORP              | GB        |    550000 | PA      | $604095.80    | 0.03%             | 2028-11-30      | Fixed         | 12.00%                | No            |                  2 | On Loan: No      |
| UNITI GROUP/CSL CAPITAL                                          | Uniti Group LP / Uniti Group Finance 2019 Inc / CSL Capital LLC                                                              | CUSIP: 91327TAA9<br>LEI: N/A                  | Long             | DBT              |  | US        |    287000 | PA      | $302268.40    | 0.01%             | 2028-02-15      | Fixed         | 10.50%                | No            |                  2 | On Loan: No      |
| ISLAMIC REP OF PAKISTAN                                          | Pakistan Government International Bond                                                                                       | CUSIP: 695847AS2<br>LEI: 529900LOP29R5WKHOD86 | Long             | DBT              | NUSS              | PK        |    200000 | PA      | $199163.07    | 0.01%             | 2026-04-08      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| ARTHUR US FINCO INC                                              | Arthur US Finco Inc Term Loan B                                                                                              | CUSIP: 000000000<br>LEI: 254900YJ1VCSP18B5452 | Long             | LON              | CORP              | US        |    498737 | PA      | $443342.61    | 0.02%             | 2029-12-14      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| NEW FLYER HOLDINGS                                               | New Flyer Holdings Inc                                                                                                       | CUSIP: 64438WAA5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     65000 | PA      | $69573.94     | 0.00%             | 2030-07-01      | Fixed         | 9.25%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                       | Fannie Mae Pool                                                                                                              | CUSIP: 31418DY71<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   4324277 | PA      | $3764294.55   | 0.17%             | 2041-05-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| Bausch & Lomb Corporation                                        | Bausch & Lomb Corporation 2025 Term Loan B                                                                                   | CUSIP: 000000000<br>LEI: 549300NY6OZM39SO6475 | Long             | LON              | CORP              | CA        |    254362 | PA      | $254151.38    | 0.01%             | 2031-01-15      | Floating      | 8.41%                 | No            |                  2 | On Loan: No      |
| LBM ACQUISITION LLC                                              | LBM Acquisition LLC                                                                                                          | CUSIP: 05552BAA4<br>LEI: 549300FAEB3VWZL4NI86 | Long             | DBT              | CORP              | US        |    200000 | PA      | $185124.96    | 0.01%             | 2029-01-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| TRANSOCEAN INC                                                   | Transocean International Ltd                                                                                                 | CUSIP: 893830BL2<br>LEI: DOL4HJ22ADYSIWES4H94 | Long             | DBT              | CORP              | BM        |    400000 | PA      | $399443.86    | 0.02%             | 2027-02-01      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| IQVIA INC                                                        | IQVIA Inc                                                                                                                    | CUSIP: 46266TAG3<br>LEI: 549300PLWY28YB00C717 | Long             | DBT              | CORP              | US        |    295000 | PA      | $303301.60    | 0.01%             | 2032-06-01      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| COHERENT CORP                                                    | Coherent Corp                                                                                                                | CUSIP: 902104AC2<br>LEI: 549300O5C25A0MMHHU33 | Long             | DBT              | CORP              | US        |    140000 | PA      | $138068.54    | 0.01%             | 2029-12-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Sweetwater Borrower LLC                                          | Sweetwater Borrower LLC Term Loan B                                                                                          | CUSIP: 87168EAB0<br>LEI: 254900JJU57789DC8283 | Long             | LON              | CORP              | US        |    487725 | PA      | $488642.10    | 0.02%             | 2028-08-07      | Floating      | 8.53%                 | No            |                  2 | On Loan: No      |
| VENTUR GLBL PLQUM LNG LLC VGPL                                   | Venture Global Plaquemines LNG LLC (VGPL) Base Term Loan                                                                     | CUSIP: 000000000<br>LEI: 549300TKP4I6OJ02BF90 | Long             | LON              | CORP              | US        |    368861 | PA      | $368861.32    | 0.02%             | 2029-05-25      | Floating      | 6.39%                 | No            |                  2 | On Loan: No      |
| OMEGA HLTHCARE INVESTORS                                         | Omega Healthcare Investors Inc                                                                                               | CUSIP: 681936BN9<br>LEI: 549300OJ7ENK42CZ8E73 | Long             | DBT              |  | US        |    300000 | PA      | $264691.79    | 0.01%             | 2033-04-15      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| GUARA NORTE SARL                                                 | Guara Norte Sarl                                                                                                             | CUSIP: 400666AA1<br>LEI: 549300U2I4L03BBA3485 | Long             | DBT              | CORP              | LU        |    115244 | PA      | $112862.33    | 0.01%             | 2034-06-15      | Fixed         | 5.20%                 | No            |                  2 | On Loan: No      |
| SAUDI ARABIAN OIL CO                                             | Saudi Arabian Oil Co                                                                                                         | CUSIP: 000000000<br>LEI: 5586006WD91QHB7J4X50 | Long             | DBT              | CORP              | SA        |    200000 | PA      | $212704.66    | 0.01%             | 2055-06-02      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| Kaman Corporation                                                | Kaman Corporation 2025 Term Loan B                                                                                           | CUSIP: 48354VAM4<br>LEI: 5493003YK076OLTEQF95 | Long             | LON              | CORP              | US        |    685345 | PA      | $682713.11    | 0.03%             | 2032-02-26      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| WINDSTREAM SERVICES LLC                                          | WINDSTREAM SERVICES LLC 2025 TERM LOAN B                                                                                     | CUSIP: 000000000<br>LEI: 549300KT9GVEBYCD2N29 | Long             | LON              | CORP              | US        |    480000 | PA      | $475200.00    | 0.02%             | 2032-09-24      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| JPMorgan Chase Bank NA                                           | PURCHASED USD / SOLD EUR                                                                                                     | CUSIP: 000000000<br>LEI: 7H6GLXDRUGQFU57RNE97 | N/A              | DFE              |  | US        |         1 | NC      | $-209.93      | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Mexico Government International Bonds                            | Mexico Government International Bonds                                                                                        | CUSIP: 91087BAV2<br>LEI: 254900EGTWEU67VP6075 | Long             | DBT              | NUSS              | MX        |    200000 | PA      | $211204.00    | 0.01%             | 2035-02-09      | Fixed         | 6.35%                 | No            |                  2 | On Loan: No      |
| Asurion LLC                                                      | Asurion LLC 2021 2nd Lien Term Loan B3                                                                                       | CUSIP: 04649VAZ3<br>LEI: 549300KNQVXGIOXWK278 | Long             | LON              | CORP              | US        |    195000 | PA      | $189637.50    | 0.01%             | 2028-01-31      | Floating      | 9.53%                 | No            |                  2 | On Loan: No      |
| GOLAR LNG LTD                                                    | Golar LNG Ltd                                                                                                                | CUSIP: 38046YAC5<br>LEI: 213800C2VSFZG3EZLO34 | Long             | DBT              | CORP              | BM        |    142000 | PA      | $143420.00    | 0.01%             | 2030-12-15      | Fixed         | 2.75%                 | No            |                  2 | On Loan: No      |
| Aruba Investments Holdings LLC                                   | Aruba Investments Holdings LLC 2020 USD Term Loan                                                                            | CUSIP: 04317JAB4<br>LEI: 254900GMIYFF4FZ0A357 | Long             | LON              | CORP              | US        |    497409 | PA      | $482735.75    | 0.02%             | 2027-11-24      | Floating      | 8.26%                 | No            |                  2 | On Loan: No      |
| BPR Trust                                                        | BPR Trust 2023-BRK2                                                                                                          | CUSIP: 05610WAE0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    275000 | PA      | $289560.18    | 0.01%             | 2038-10-05      | Variable      | 8.63%                 | No            |                  2 | On Loan: No      |
| Mexico Government International Bonds                            | Mexico Government International Bonds                                                                                        | CUSIP: 91087BAR1<br>LEI: 254900EGTWEU67VP6075 | Long             | DBT              | NUSS              | MX        |    200000 | PA      | $173700.00    | 0.01%             | 2034-02-12      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| RVR Dealership Holdings LLC                                      | RVR Dealership Holdings LLC Term Loan B                                                                                      | CUSIP: 75001CAB0<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    497416 | PA      | $468123.18    | 0.02%             | 2028-02-08      | Floating      | 8.01%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                         | Ginnie Mae                                                                                                                   | CUSIP: 21H0226A4<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |  14100000 | PA      | $12136957.11  | 0.56%             | 2055-10-20      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| ALLIANT HOLD / CO-ISSUER                                         | Alliant Holdings Intermediate LLC / Alliant Holdings Co-Issuer                                                               | CUSIP: 01883LAH6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    150000 | PA      | $154564.86    | 0.01%             | 2032-10-01      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| VIRIDIEN                                                         | Viridien                                                                                                                     | CUSIP: 12531QAA3<br>LEI: 969500FCVQ5SLAAUJV59 | Long             | DBT              | CORP              | FR        |    135000 | PA      | $138778.14    | 0.01%             | 2030-10-15      | Fixed         | 10.00%                | No            |                  2 | On Loan: No      |
| BX Trust                                                         | BX Trust 2025-TAIL                                                                                                           | CUSIP: 123912AJ6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    200000 | PA      | $200153.20    | 0.01%             | 2035-06-15      | Floating      | 7.45%                 | No            |                  2 | On Loan: No      |
| MINERAL RESOURCES LTD                                            | Mineral Resources Ltd                                                                                                        | CUSIP: 603051AC7<br>LEI: 5299007V1ACKFFX2P066 | Long             | DBT              | CORP              | AU        |    180000 | PA      | $183472.93    | 0.01%             | 2027-11-01      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                         | Ginnie Mae II Pool                                                                                                           | CUSIP: 36179XHW9<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    475479 | PA      | $434988.21    | 0.02%             | 2052-10-20      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                       | Fannie Mae Pool                                                                                                              | CUSIP: 3140QEKE1<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   8355957 | PA      | $7191676.90   | 0.33%             | 2050-08-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| INSIGHT ENTERPRS                                                 | Insight Enterprises Inc                                                                                                      | CUSIP: 45765UAC7<br>LEI: 529900S8991TYW6YP792 | Long             | DBT              | CORP              | US        |    100000 | PA      | $102530.00    | 0.00%             | 2032-05-15      | Fixed         | 6.63%                 | No            |                  2 | On Loan: No      |
| PHILIP MORRIS INTL INC                                           | Philip Morris International Inc                                                                                              | CUSIP: 000000000<br>LEI: HL3H1H2BGXWVG3BSWR90 | Long             | DBT              | CORP              | US        |    325000 | PA      | $379221.60    | 0.02%             | 2032-06-06      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| OLYMPUS WTR US HLDG CORP                                         | Olympus Water US Holding Corp                                                                                                | CUSIP: 25259KAA8<br>LEI: 549300YU2GGVCBN3MY89 | Long             | DBT              | CORP              | US        |    400000 | PA      | $419800.00    | 0.02%             | 2028-11-15      | Fixed         | 9.75%                 | No            |                  2 | On Loan: No      |
| CENTENE CORP                                                     | Centene Corp                                                                                                                 | CUSIP: 15135BAT8<br>LEI: 549300Z7JJ4TQSQGT333 | Long             | DBT              | CORP              | US        |   6560000 | PA      | $6359108.00   | 0.29%             | 2029-12-15      | Fixed         | 4.63%                 | No            |                  2 | On Loan: No      |
| MPT OPER PARTNERSP/FINL                                          | MPT Operating Partnership LP / MPT Finance Corp                                                                              | CUSIP: 55342UAJ3<br>LEI: N/A                  | Long             | DBT              |  | US        |    200000 | PA      | $166903.86    | 0.01%             | 2029-08-01      | Fixed         | 4.63%                 | No            |                  2 | On Loan: No      |
| STAPLES INC                                                      | Staples Inc                                                                                                                  | CUSIP: 855030AS1<br>LEI: XQM2JINI1UL7642TU573 | Long             | DBT              | CORP              | US        |    200000 | PA      | $160559.34    | 0.01%             | 2030-01-15      | Fixed         | 12.75%                | No            |                  2 | On Loan: No      |
| FORD MOTOR CREDIT CO LLC                                         | Ford Motor Credit Co LLC                                                                                                     | CUSIP: 345397H30<br>LEI: UDSQCVRUX5BONN0VY111 | Long             | DBT              | CORP              | US        |    100000 | PA      | $134896.17    | 0.01%             | 2031-08-29      | Fixed         | 6.18%                 | No            |                  2 | On Loan: No      |
| ALBEMARLE CORP                                                   | Albemarle Corp                                                                                                               | CUSIP: 012653200<br>LEI: HDBLS2Q6GV1LSKQPBS54 | Long             | EP               | CORP              | US        |      1846 | NS      | $69926.48     | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Polaris Newco LLC                                                | Polaris Newco LLC USD Term Loan B                                                                                            | CUSIP: 73108RAB4<br>LEI: 254900LEPDAG7EDOA064 | Long             | LON              | CORP              | US        |   1640687 | PA      | $1579390.48   | 0.07%             | 2028-06-02      | Floating      | 8.57%                 | No            |                  2 | On Loan: No      |
| BCPE FLAVOR DEBT/ISSUER                                          | BCPE Flavor Debt Merger Sub LLC and BCPE Flavor Issuer Inc                                                                   | CUSIP: 072933AA2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    180000 | PA      | $188392.18    | 0.01%             | 2032-07-01      | Fixed         | 9.50%                 | No            |                  2 | On Loan: No      |
| AMER SPORTS COMPANY                                              | Amer Sports Co                                                                                                               | CUSIP: 02352NAA7<br>LEI: 549300NRKH9WF70VFC95 | Long             | DBT              | CORP              | US        |    250000 | PA      | $259806.75    | 0.01%             | 2031-02-16      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| NAVIENT CORP                                                     | Navient Corp                                                                                                                 | CUSIP: 63938CAQ1<br>LEI: 54930067J0ZNOEBRW338 | Long             | DBT              | CORP              | US        |    150000 | PA      | $157838.70    | 0.01%             | 2032-06-15      | Fixed         | 7.88%                 | No            |                  2 | On Loan: No      |
| ROCKIES EXPRESS PIPELINE                                         | Rockies Express Pipeline LLC                                                                                                 | CUSIP: 77340RAR8<br>LEI: W2ZGZGZKY5GGNY6F3V51 | Long             | DBT              | CORP              | US        |    200000 | PA      | $198377.60    | 0.01%             | 2029-07-15      | Fixed         | 4.95%                 | No            |                  2 | On Loan: No      |
| BNP Paribas SA                                                   | PURCHASED USD / SOLD GBP                                                                                                     | CUSIP: 000000000<br>LEI: R0MUWSFPU8MPRO8K5P83 | N/A              | DFE              |  | US        |         1 | NC      | $-296.29      | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Freddie Mac                                                      | Freddie Mac Pool                                                                                                             | CUSIP: 3132DQPF7<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   4355816 | PA      | $4343327.47   | 0.20%             | 2053-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| KINGSTON AIRPORT REV FIN                                         | Kingston Airport Revenue Finance Ltd                                                                                         | CUSIP: 49647QAA6<br>LEI: 254900SK2YRR95AVHU30 | Long             | DBT              | CORP              | KY        |    200000 | PA      | $204800.00    | 0.01%             | 2036-12-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| Lumen Technologies Inc                                           | Lumen Technologies Inc 2024 Extended Term Loan B2                                                                            | CUSIP: 55024EAG0<br>LEI: 8M3THTGWLTYZVE6BBY25 | Long             | LON              | CORP              | US        |    119695 | PA      | $118814.00    | 0.01%             | 2030-04-15      | Floating      | 6.63%                 | No            |                  2 | On Loan: No      |
| United States Treasury                                           | U.S. Treasury Notes                                                                                                          | CUSIP: 91282CNA5<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        | 158075000 | PA      | $158995045.50 | 7.28%             | 2032-04-30      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| CLYDESDALE ACQUISITION                                           | Clydesdale Acquisition Holdings Inc                                                                                          | CUSIP: 18972EAC9<br>LEI: 254900QKSDYFR3K5YD98 | Long             | DBT              | CORP              | US        |    250000 | PA      | $256452.30    | 0.01%             | 2030-01-15      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| EUROPEAN UNION                                                   | European Union                                                                                                               | CUSIP: 000000000<br>LEI: 529900FZRK8FGMPEOM08 | Long             | DBT              | NUSS              | XX        |    227000 | PA      | $263384.41    | 0.01%             | 2031-12-04      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF PHILIPPINES                                          | Philippine Government International Bond                                                                                     | CUSIP: 718286CU9<br>LEI: 529900RAHBALMYIJ3T08 | Long             | DBT              | NUSS              | PH        |    200000 | PA      | $214843.03    | 0.01%             | 2047-10-13      | Fixed         | 5.95%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                       | Fannie Mae Pool                                                                                                              | CUSIP: 31418EGF1<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    775462 | PA      | $758021.96    | 0.03%             | 2042-08-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                         | Ginnie Mae II Pool                                                                                                           | CUSIP: 3618N5GJ2<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    847557 | PA      | $758797.37    | 0.03%             | 2055-02-20      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| DAVITA INC                                                       | DaVita Inc                                                                                                                   | CUSIP: 23918KAY4<br>LEI: M2XHYMU3TZNEZURC6H66 | Long             | DBT              | CORP              | US        |    195000 | PA      | $201083.61    | 0.01%             | 2033-07-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| Extended Stay America Trust                                      | Extended Stay America Trust 2021-ESH                                                                                         | CUSIP: 30227FAA8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   3457432 | PA      | $3457433.03   | 0.16%             | 2038-07-15      | Floating      | 5.34%                 | No            |                  2 | On Loan: No      |
| Reach Financial LLC                                              | Reach ABS Trust 2025-2                                                                                                       | CUSIP: 75525QAA8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    537461 | PA      | $539593.58    | 0.02%             | 2032-08-18      | Fixed         | 4.93%                 | No            |                  2 | On Loan: No      |
| AMNEAL PHARMACEUTICALS LLC                                       | Amneal Pharmaceuticals LLC 2025 Term Loan B                                                                                  | CUSIP: 03167DAR5<br>LEI: 54930037VIXE7LRZ1M66 | Long             | LON              | CORP              | US        |    165000 | PA      | $164724.45    | 0.01%             | 2032-08-01      | Floating      | 7.66%                 | No            |                  2 | On Loan: No      |
| Indonesia Government International Bonds                         | Indonesia Government International Bonds                                                                                     | CUSIP: 455780CE4<br>LEI: 529900FWX0GRR7WG5W79 | Long             | DBT              | NUSS              | ID        |    100000 | PA      | $86395.04     | 0.00%             | 2048-01-11      | Fixed         | 4.35%                 | No            |                  2 | On Loan: No      |
| EP Purchaser LLC                                                 | EP Purchaser LLC 2021 Term Loan B                                                                                            | CUSIP: 26881KAC8<br>LEI: 549300GGODRVQG1GH476 | Long             | LON              | CORP              | US        |     19820 | PA      | $18597.37     | 0.00%             | 2028-11-06      | Floating      | 7.78%                 | No            |                  2 | On Loan: No      |
| BNP Paribas SA                                                   | PURCHASED USD / SOLD GBP                                                                                                     | CUSIP: 000000000<br>LEI: R0MUWSFPU8MPRO8K5P83 | N/A              | DFE              |  | US        |         1 | NC      | $1062.70      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| TARGA RESOURCES CORP                                             | Targa Resources Corp                                                                                                         | CUSIP: 87612GAQ4<br>LEI: 5493003QENHHS261UR94 | Long             | DBT              | CORP              | US        |   1584000 | PA      | $1621879.41   | 0.07%             | 2036-02-15      | Fixed         | 5.65%                 | No            |                  2 | On Loan: No      |
| MAGYAR EXPORT-IMPORT BAN                                         | Magyar Export-Import Bank Zrt                                                                                                | CUSIP: 55977YAA6<br>LEI: 529900O4UGETQ9Q3AA63 | Long             | DBT              | NUSS              | HU        |    200000 | PA      | $206805.31    | 0.01%             | 2027-12-04      | Fixed         | 6.13%                 | No            |                  2 | On Loan: No      |
| Cornerstone Building Brands Inc                                  | Cornerstone Building Brands Inc 2021 Term Loan B                                                                             | CUSIP: 72431HAD2<br>LEI: 549300IW41QEWQ6T0H29 | Long             | LON              | CORP              | US        |    354308 | PA      | $335827.38    | 0.02%             | 2028-04-12      | Floating      | 7.50%                 | No            |                  2 | On Loan: No      |
| US FOODS INC                                                     | US Foods Inc                                                                                                                 | CUSIP: 90290MAD3<br>LEI: 5493000JOOFAOUY1JZ87 | Long             | DBT              | CORP              | US        |    250000 | PA      | $246261.48    | 0.01%             | 2029-02-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| INEOS Quattro Holdings UK Ltd                                    | INEOS Quattro Holdings UK Ltd 2023 USD 1st Lien Term Loan B                                                                  | CUSIP: 000000000<br>LEI: 213800HKSMBSJQ32CA45 | Long             | LON              | CORP              | US        |    736867 | PA      | $663792.03    | 0.03%             | 2029-04-02      | Floating      | 8.51%                 | No            |                  2 | On Loan: No      |
| BX Trust                                                         | BX Commercial Mortgage Trust 2023-XL3                                                                                        | CUSIP: 12434GAE5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    136042 | PA      | $136509.31    | 0.01%             | 2040-12-09      | Floating      | 6.79%                 | No            |                  2 | On Loan: No      |
| BX Trust                                                         | BX Commercial Mortgage Trust 2020-VIVA                                                                                       | CUSIP: 12433XAJ8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    235000 | PA      | $211191.61    | 0.01%             | 2044-03-11      | Variable      | 3.67%                 | No            |                  2 | On Loan: No      |
| US ACUTE CARE SOLUTIONS                                          | US Acute Care Solutions LLC                                                                                                  | CUSIP: 90367UAD3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    325000 | PA      | $332794.26    | 0.02%             | 2029-05-15      | Fixed         | 9.75%                 | No            |                  2 | On Loan: No      |
| BUILDERS FIRSTSOURCE INC                                         | Builders FirstSource Inc                                                                                                     | CUSIP: 12008RAP2<br>LEI: 549300W0SKP6L3H7DP63 | Long             | DBT              | CORP              | US        |    200000 | PA      | $188087.44    | 0.01%             | 2032-02-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| BX Trust                                                         | BX Trust 2025-ROIC                                                                                                           | CUSIP: 05593VAJ2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   3164657 | PA      | $3156746.98   | 0.14%             | 2030-03-15      | Floating      | 5.69%                 | No            |                  2 | On Loan: No      |
| BX Trust                                                         | BX Trust 2022-VAMF                                                                                                           | CUSIP: 05609TAJ9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    104000 | PA      | $103610.73    | 0.00%             | 2039-01-15      | Floating      | 6.85%                 | No            |                  2 | On Loan: No      |
| WHARF Commercial Mortgage Trust                                  | WHARF Commercial Mortgage Trust 2025-DC                                                                                      | CUSIP: 92987LAL1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    100000 | PA      | $102408.27    | 0.00%             | 2040-07-15      | Variable      | 7.98%                 | No            |                  2 | On Loan: No      |
| Cross Mortgage Trust                                             | Cross 2025-H4 Mortgage Trust                                                                                                 | CUSIP: 22790AAA3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    857055 | PA      | $865245.68    | 0.04%             | 2070-06-25      | Variable      | 5.60%                 | No            |                  2 | On Loan: No      |
| ENERGY TRANSFER LP                                               | Energy Transfer LP                                                                                                           | CUSIP: 29273VAJ9<br>LEI: MTLVN9N7JE8MIBIJ1H73 | Long             | DBT              | CORP              | US        |    250000 | PA      | $249521.00    | 0.01%             | 2028-02-15      | Fixed         | 6.63%                 | No            |                  2 | On Loan: No      |
| ASTRO ACQUISITION LLC                                            | ASTRO ACQUISITION LLC 2025 TERM LOAN B                                                                                       | CUSIP: 000000000<br>LEI: 254900PB0M1U1S6VUM04 | Long             | LON              | CORP              | US        |    100000 | PA      | $100313.00    | 0.00%             | 2032-08-30      | Floating      | 7.12%                 | No            |                  2 | On Loan: No      |
| SCIENCE APPLICATIONS INT                                         | Science Applications International Corp                                                                                      | CUSIP: 808625AB3<br>LEI: 549300LZPNZIXQGZPZ48 | Long             | DBT              | CORP              | US        |    210000 | PA      | $210065.22    | 0.01%             | 2033-11-01      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| WILLIAMS COMPANIES INC                                           | Williams Cos Inc/The                                                                                                         | CUSIP: 969457BY5<br>LEI: D71FAKCBLFS2O0RBPG08 | Long             | DBT              | CORP              | US        |   4820000 | PA      | $4376484.33   | 0.20%             | 2031-03-15      | Fixed         | 2.60%                 | No            |                  2 | On Loan: No      |
| Uruguay Government International Bonds                           | Uruguay Government International Bonds                                                                                       | CUSIP: 760942BA9<br>LEI: 549300RDR012H2V82H43 | Long             | DBT              | NUSS              | UY        |    150000 | PA      | $141825.00    | 0.01%             | 2050-06-18      | Fixed         | 5.10%                 | No            |                  2 | On Loan: No      |
| NORDSTROM INC                                                    | Nordstrom Inc                                                                                                                | CUSIP: 655664AY6<br>LEI: 549300S3IZB5P35KNV16 | Long             | DBT              | CORP              | US        |    150000 | PA      | $136250.67    | 0.01%             | 2031-08-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| BANK OF AMERICA CORP                                             | Bank of America Corp                                                                                                         | CUSIP: 06051GLS6<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |   4171000 | PA      | $4361595.01   | 0.20%             | 2029-09-15      | Fixed         | 5.82%                 | No            |                  2 | On Loan: No      |
| COMMERZBANK AG                                                   | Commerzbank AG                                                                                                               | CUSIP: 000000000<br>LEI: 851WYGNLUQLFZBSYGB56 | Long             | DBT              | CORP              | DE        |    300000 | PA      | $369522.72    | 0.02%             | 2034-10-16      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| CSC HOLDINGS LLC                                                 | CSC Holdings LLC                                                                                                             | CUSIP: 126307BD8<br>LEI: 3HG2WD2W22M120IUNG49 | Long             | DBT              | CORP              | US        |    455000 | PA      | $159635.20    | 0.01%             | 2030-12-01      | Fixed         | 4.63%                 | No            |                  2 | On Loan: No      |
| MEDLINE BORROWER/MEDL CO                                         | Medline Borrower LP/Medline Co-Issuer Inc                                                                                    | CUSIP: 58506DAA6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    470000 | PA      | $481940.19    | 0.02%             | 2029-04-01      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| CITGO PETROLEUM CORP                                             | CITGO Petroleum Corp                                                                                                         | CUSIP: 17302XAN6<br>LEI: YX52P86PXMLYDOTUQ225 | Long             | DBT              | CORP              | US        |     50000 | PA      | $51959.60     | 0.00%             | 2029-01-15      | Fixed         | 8.38%                 | No            |                  2 | On Loan: No      |
| ARES STRATEGIC INCOME FU                                         | Ares Strategic Income Fund                                                                                                   | CUSIP: 04020EAK3<br>LEI: 549300IANZJVZPTICV54 | Long             | DBT              | CORP              | US        |    869000 | PA      | $883088.95    | 0.04%             | 2030-09-09      | Fixed         | 5.80%                 | No            |                  2 | On Loan: No      |
| LEVEL 3 FINANCING INC                                            | Level 3 Financing Inc                                                                                                        | CUSIP: 527298CD3<br>LEI: 254900AE5FEFIJOXWL19 | Long             | DBT              | CORP              | US        |    250000 | PA      | $228437.50    | 0.01%             | 2030-04-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| VICI PROPERTIES LP                                               | VICI Properties LP                                                                                                           | CUSIP: 925650AK9<br>LEI: 254900X4QE7SGKQLLN38 | Long             | DBT              |  | US        |   1170000 | PA      | $1197974.50   | 0.05%             | 2035-04-01      | Fixed         | 5.63%                 | No            |                  2 | On Loan: No      |
| Benefit Street Partners CLO Ltd                                  | Benefit Street Partners CLO 43 Ltd                                                                                           | CUSIP: 08179QAA8<br>LEI: 254900TPMKEES6UQHQ33 | Long             | ABS-CBDO         | CORP              | KY        |   1306000 | PA      | $1306562.89   | 0.06%             | 2038-10-20      | Floating      | 0.00%                 | No            |                  2 | On Loan: No      |
| MCDONALD'S CORP                                                  | McDonald's Corp                                                                                                              | CUSIP: 000000000<br>LEI: UE2136O97NLB5BYP9H04 | Long             | DBT              | CORP              | US        |    150000 | PA      | $178518.64    | 0.01%             | 2032-05-21      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| MONGOLIA INTL BOND                                               | Mongolia Government International Bond                                                                                       | CUSIP: 60937LAH8<br>LEI: N/A                  | Long             | DBT              | NUSS              | MN        |    200000 | PA      | $211568.55    | 0.01%             | 2029-06-05      | Fixed         | 7.88%                 | No            |                  2 | On Loan: No      |
| Project Alpha Intermediate Holding, Inc.                         | Project Alpha Intermediate Holding Inc 2024 1st Lien Term Loan B                                                             | CUSIP: 74339DAN8<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    748116 | PA      | $749813.80    | 0.03%             | 2030-10-26      | Floating      | 7.25%                 | No            |                  2 | On Loan: No      |
| ORGANON & CO/ORGANON FOR                                         | Organon & Co / Organon Foreign Debt Co-Issuer BV                                                                             | CUSIP: 68622TAB7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    285000 | PA      | $249673.96    | 0.01%             | 2031-04-30      | Fixed         | 5.13%                 | No            |                  2 | On Loan: No      |
| Extended Stay America Trust                                      | Extended Stay America Trust 2025-ESH                                                                                         | CUSIP: 30227TAE0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    215000 | PA      | $215537.46    | 0.01%             | 2042-10-15      | Floating      | 6.00%                 | No            |                  2 | On Loan: No      |
| HESS MIDSTREAM OPERATION                                         | Hess Midstream Operations LP                                                                                                 | CUSIP: 428102AH0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    150000 | PA      | $152907.01    | 0.01%             | 2028-03-01      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| State Street Bank & Trust Co.                                    | PURCHASED USD / SOLD GBP                                                                                                     | CUSIP: 000000000<br>LEI: 571474TGEMMWANRLN572 | N/A              | DFE              |  | US        |         1 | NC      | $182.11       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| BANK OF AMERICA CORP                                             | Bank of America Corp                                                                                                         | CUSIP: 06051GLH0<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |   7290000 | PA      | $7542377.25   | 0.35%             | 2034-04-25      | Fixed         | 5.29%                 | No            |                  2 | On Loan: No      |
| PETROLEOS DE VENEZUELA S                                         | Petroleos de Venezuela SA                                                                                                    | CUSIP: 716558AE1<br>LEI: 549300YWR8TN1OFD4P06 | Long             | DBT              | CORP              | VE        |    300000 | PA      | $54000.00     | 0.00%             | 2035-05-17      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| VFH PARENT LLC                                                   | VFH Parent LLC 2025 Term Loan B                                                                                              | CUSIP: 91820UAV2<br>LEI: 549300FRO9M476YHHY64 | Long             | LON              | CORP              | US        |    170000 | PA      | $170000.00    | 0.01%             | 2031-06-21      | Floating      | 6.66%                 | No            |                  2 | On Loan: No      |
| FUTURE RETAIL LTD                                                | Future Retail Ltd                                                                                                            | CUSIP: 36118EAA0<br>LEI: 335800XO19WYIUZC9H61 | Long             | DBT              | CORP              | IN        |    905000 | PA      | $135.75       | 0.00%             | 2025-01-22      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| BNP Paribas SA                                                   | Long: LFQ097000 CDS EUR R V 03MEVENT LFQ097000_PRO CORPORATE / Short: LFQ097000 CDS EUR P F  1.00000 LFQ097000_FEE CORPORATE | CUSIP: 000000000<br>LEI: R0MUWSFPU8MPRO8K5P83 | N/A              | DCR              |  | US        |    550000 | OU      | $-13898.45    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| KODIAK BUILDING PARTNERS INC                                     | Kodiak Building Partners Inc 2024 Term Loan B                                                                                | CUSIP: 50011JAF7<br>LEI: 549300Y1Q6ZUH0EXO182 | Long             | LON              | CORP              | US        |    313678 | PA      | $311848.94    | 0.01%             | 2031-12-04      | Floating      | 7.75%                 | No            |                  2 | On Loan: No      |
| EMG UTICA LLC                                                    | EMG Utica LLC 2025 Term Loan B                                                                                               | CUSIP: 26869HAB3<br>LEI: 254900H5HLPM7ZD1LU54 | Long             | LON              | CORP              | US        |     54862 | PA      | $54930.13     | 0.00%             | 2030-04-01      | Floating      | 8.00%                 | No            |                  2 | On Loan: No      |
| Jeld-Wen Inc                                                     | JELD-WEN Inc                                                                                                                 | CUSIP: 475795AD2<br>LEI: 549300XWE6NM0N1HFW16 | Long             | DBT              | CORP              | US        |     70000 | PA      | $68310.00     | 0.00%             | 2027-12-15      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| AMERICAN AXLE AND MANUFAC INC                                    | AMERICAN AXLE AND MANUFAC INC 2025 INCREMENTAL TERM LOAN C                                                                   | CUSIP: 02406MBB2<br>LEI: RY5TAKFOBLDUGX31MS24 | Long             | LON              | CORP              | US        |    175000 | PA      | $173906.25    | 0.01%             | 2032-02-24      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| ELP 2021-ELP                                                     | ELP Commercial Mortgage Trust 2021-ELP                                                                                       | CUSIP: 26863LAS3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     99174 | PA      | $99173.33     | 0.00%             | 2038-11-15      | Floating      | 7.88%                 | No            |                  2 | On Loan: No      |
| NBM US HOLDINGS INC                                              | NBM US Holdings Inc                                                                                                          | CUSIP: 62877VAB7<br>LEI: 5493008K1QMSP0J8UC24 | Long             | DBT              | CORP              | US        |    150000 | PA      | $151874.66    | 0.01%             | 2029-08-06      | Fixed         | 6.63%                 | No            |                  2 | On Loan: No      |
| Oak Hill Credit                                                  | OHA Credit Partners VII Ltd                                                                                                  | CUSIP: 67102QBK3<br>LEI: 549300LXLBAFTIMXZT54 | Long             | ABS-CBDO         | CORP              | KY        |  10000000 | PA      | $9994980.00   | 0.46%             | 2038-02-20      | Floating      | 5.34%                 | No            |                  2 | On Loan: No      |
| OLIN CORP                                                        | Olin Corp                                                                                                                    | CUSIP: 680665AL0<br>LEI: 549300GKK294V7W57P06 | Long             | DBT              | CORP              | US        |     65000 | PA      | $65194.94     | 0.00%             | 2029-08-01      | Fixed         | 5.63%                 | No            |                  2 | On Loan: No      |
| Intesa Sanpaolo SpA                                              | Intesa Sanpaolo SpA                                                                                                          | CUSIP: 46115HBB2<br>LEI: 2W8N8UU78PMDQKZENC08 | Long             | DBT              | CORP              | IT        |   1070000 | PA      | $1063471.46   | 0.05%             | 2027-07-14      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| Echo Global Logistics Inc                                        | Echo Global Logistics Inc Term Loan                                                                                          | CUSIP: 28257KAB2<br>LEI: 549300WRZ9Y84GWVYR04 | Long             | LON              | CORP              | US        |     95000 | PA      | $92102.50     | 0.00%             | 2028-11-23      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| PRIME HEALTHCARE SERVICE                                         | Prime Healthcare Services Inc                                                                                                | CUSIP: 74165HAC2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    130000 | PA      | $135200.00    | 0.01%             | 2029-09-01      | Fixed         | 9.38%                 | No            |                  2 | On Loan: No      |
| COMM Mortgage Trust                                              | COMM 2015-LC19 Mortgage Trust                                                                                                | CUSIP: 200474BH6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    125000 | PA      | $117857.31    | 0.01%             | 2048-02-10      | Variable      | 4.20%                 | No            |                  2 | On Loan: No      |
| TENGIZCHEVROIL FIN CO IN                                         | Tengizchevroil Finance Co International Ltd                                                                                  | CUSIP: 88034QAC1<br>LEI: 5493001VEV2XTJIBZH31 | Long             | DBT              | CORP              | BM        |    100000 | PA      | $92192.98     | 0.00%             | 2030-08-15      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| CEMEX SAB DE CV                                                  | Cemex SAB de CV                                                                                                              | CUSIP: 151290CC5<br>LEI: 549300RIG2CXWN6IV731 | Long             | DBT              | CORP              | MX        |    200000 | PA      | $209100.00    | 0.01%             | 2030-06-10      | Fixed         | 7.20%                 | No            |                  2 | On Loan: No      |
| SCG Hotel Issuer Inc                                             | SCG Commercial Mortgage Trust 2025-FLWR                                                                                      | CUSIP: 78438AAJ4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    160000 | PA      | $160150.02    | 0.01%             | 2042-08-15      | Floating      | 6.90%                 | No            |                  2 | On Loan: No      |
| Navigator Aviation Ltd                                           | Navigator 2025-1 Aviation Ltd                                                                                                | CUSIP: 63943GAA0<br>LEI: 984500UF8C3O89B30652 | Long             | ABS-O            | CORP              | KY        |   1890000 | PA      | $1896032.88   | 0.09%             | 2050-10-15      | Fixed         | 5.11%                 | No            |                  2 | On Loan: No      |
| CHAMBERLAIN GROUP INC                                            | CHAMBERLAIN GROUP INC 2025 TERM LOAN B                                                                                       | CUSIP: 15963CAE6<br>LEI: 25490092IFNOZBRVE539 | Long             | LON              | CORP              | US        |    110000 | PA      | $110046.20    | 0.01%             | 2032-09-08      | Floating      | 7.16%                 | No            |                  2 | On Loan: No      |
| FLUXYS SA                                                        | Fluxys SA                                                                                                                    | CUSIP: 000000000<br>LEI: 529900UEWUHSPPJQ1R79 | Long             | DBT              | CORP              | BE        |    200000 | PA      | $238993.47    | 0.01%             | 2030-11-28      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| ARCHKEY SOLUTIONS LLC                                            | Archkey Solutions LLC 2024 Delayed Draw Term Loan B                                                                          | CUSIP: 48205CAD7<br>LEI: 254900FACU3AJQKAQ270 | Long             | LON              | CORP              | US        |     18663 | PA      | $18775.23     | 0.00%             | 2031-11-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| KOSMOS ENERGY LTD                                                | Kosmos Energy Ltd                                                                                                            | CUSIP: 500688AD8<br>LEI: 213800YDFJ3OT9B5P157 | Long             | DBT              | CORP              | US        |     85000 | PA      | $74276.36     | 0.00%             | 2028-03-01      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                      | Freddie Mac Pool                                                                                                             | CUSIP: 3142GVFN6<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    315590 | PA      | $306582.15    | 0.01%             | 2055-08-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| NEXUS Buyer LLC                                                  | NEXUS Buyer LLC 2025 2nd Lien Term Loan B                                                                                    | CUSIP: 000000000<br>LEI: 254900PILSANV8WOOF24 | Long             | LON              | CORP              | US        |     95000 | PA      | $94786.25     | 0.00%             | 2032-02-16      | Floating      | 9.91%                 | No            |                  2 | On Loan: No      |
| PROLOGIS EURO FINANCE                                            | Prologis Euro Finance LLC                                                                                                    | CUSIP: 000000000<br>LEI: 549300MI5D1784PRQH06 | Long             | DBT              |  | US        |    100000 | PA      | $116907.56    | 0.01%             | 2032-09-22      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| FRESNILLO PLC                                                    | Fresnillo PLC                                                                                                                | CUSIP: 358070AB6<br>LEI: 549300JXWH1UV5J0XV81 | Long             | DBT              | CORP              | GB        |    250000 | PA      | $198335.80    | 0.01%             | 2050-10-02      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| Truist Insurance Holdings LLC                                    | Truist Insurance Holdings LLC 2024 Term Loan B                                                                               | CUSIP: 89788VAG7<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    350000 | PA      | $349454.00    | 0.02%             | 2031-05-06      | Floating      | 6.75%                 | No            |                  2 | On Loan: No      |
| Neptune Bidco US Inc                                             | Neptune Bidco US Inc 2022 USD Term Loan A                                                                                    | CUSIP: 64069JAF9<br>LEI: 549300VG15T3VCYZ4531 | Long             | LON              | CORP              | US        |   1246811 | PA      | $1184470.66   | 0.05%             | 2029-04-11      | Floating      | 9.18%                 | No            |                  2 | On Loan: No      |
| MA'ADEN SUKUK LTD                                                | Ma'aden Sukuk Ltd                                                                                                            | CUSIP: 55407NAA0<br>LEI: 254900QDNU6I6VA8UL14 | Long             | DBT              | CORP              | KY        |    200000 | PA      | $206378.05    | 0.01%             | 2030-02-13      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| ALTICE FINANCING SA                                              | Altice Financing SA                                                                                                          | CUSIP: 02154CAH6<br>LEI: 549300DIYGW8HVDF7Q17 | Long             | DBT              | CORP              | LU        |    550000 | PA      | $413875.00    | 0.02%             | 2029-08-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| VMED O2 UK FINAN                                                 | Vmed O2 UK Financing I PLC                                                                                                   | CUSIP: 92858RAA8<br>LEI: 213800MRR46ECNGZ7L69 | Long             | DBT              | CORP              | GB        |    300000 | PA      | $278149.69    | 0.01%             | 2031-01-31      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| KNDR Trust 2021-KIND                                             | KIND Trust 2021-KIND                                                                                                         | CUSIP: 482606AQ3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    113071 | PA      | $111479.87    | 0.01%             | 2038-08-15      | Floating      | 7.52%                 | No            |                  2 | On Loan: No      |
| ALLY FINANCIAL INC                                               | Ally Financial Inc                                                                                                           | CUSIP: 02005NBN9<br>LEI: 549300JBN1OSM8YNAI90 | Long             | DBT              | CORP              | US        |    460000 | PA      | $423941.43    | 0.02%             | 2028-05-15      | Fixed         | 4.70%                 | No            |                  2 | On Loan: No      |
| GLOBAL MEDICAL RESPONSE INC                                      | GLOBAL MEDICAL RESPONSE INC 2025 TERM LOAN B                                                                                 | CUSIP: 37956SAB0<br>LEI: 549300ZFWD4ZFCEJCQ87 | Long             | LON              | CORP              | US        |    120000 | PA      | $120006.00    | 0.01%             | 2032-10-01      | Floating      | 7.63%                 | No            |                  2 | On Loan: No      |
| LIFE TIME INC                                                    | Life Time Inc                                                                                                                | CUSIP: 53190FAE5<br>LEI: 549300PALKE96VYH4X17 | Long             | DBT              | CORP              | US        |    235000 | PA      | $238751.51    | 0.01%             | 2031-11-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| WRANGLER HOLDCO CORP                                             | Wrangler Holdco Corp                                                                                                         | CUSIP: 37441QAA9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    250000 | PA      | $260674.75    | 0.01%             | 2032-04-01      | Fixed         | 6.63%                 | No            |                  2 | On Loan: No      |
| BNP Paribas Securities Corp.                                     | Long: LKI259000 CDS EUR R V 03MEVENT LKI259000_PRO CORPORATE / Short: LKI259000 CDS EUR P F  1.00000 LKI259000_FEE CORPORATE | CUSIP: 000000000<br>LEI: RCNB6OTYUAMMP879YW96 | N/A              | DCR              |  | US        |    350000 | OU      | $-4677.22     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| STAR HOLDING LLC                                                 | Star Holding LLC                                                                                                             | CUSIP: 85513AAA6<br>LEI: 254900BDGPE9N1WAKD59 | Long             | DBT              | CORP              | US        |    100000 | PA      | $99220.44     | 0.00%             | 2031-08-01      | Fixed         | 8.75%                 | No            |                  2 | On Loan: No      |
| TELECOMMUNICATIONS CO TE                                         | Telecommunications co Telekom Srbija AD Belgrade                                                                             | CUSIP: 87945BAA8<br>LEI: 254900OVY0XI1DFYC092 | Long             | DBT              | CORP              | RS        |    250000 | PA      | $253613.15    | 0.01%             | 2029-10-28      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                       | Fannie Mae REMICS                                                                                                            | CUSIP: 3136BMAZ1<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    262596 | PA      | $246380.13    | 0.01%             | 2049-03-25      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| GREAT OUTDOORS GROUP LLC                                         | Great Outdoors Group LLC 2025 Term Loan B                                                                                    | CUSIP: 07014QAP6<br>LEI: 549300IYLDI2E8I2AU46 | Long             | LON              | CORP              | US        |   2984962 | PA      | $2981231.20   | 0.14%             | 2032-01-23      | Floating      | 7.41%                 | No            |                  2 | On Loan: No      |
| DISH DBS CORP                                                    | DISH DBS Corp                                                                                                                | CUSIP: 25470XBD6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    530000 | PA      | $453240.03    | 0.02%             | 2029-06-01      | Fixed         | 5.13%                 | No            |                  2 | On Loan: No      |
| DARKTRACE PLC                                                    | Darktrace PLC 2nd Lien Term Loan                                                                                             | CUSIP: 52526CAD1<br>LEI: N/A                  | Long             | LON              | CORP              | US        |     80000 | PA      | $79900.00     | 0.00%             | 2032-10-09      | Floating      | 9.57%                 | No            |                  2 | On Loan: No      |
| NRG ENERGY INC                                                   | NRG Energy Inc                                                                                                               | CUSIP: 629377DC3<br>LEI: 5E2UPK5SW04M13XY7I38 | Long             | DBT              | CORP              | US        |    210000 | PA      | $209785.66    | 0.01%             | 2034-01-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| PINNACLE BUYER LLC                                               | PINNACLE BUYER LLC DELAYED DRAW TERM LOAN                                                                                    | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |     26613 | PA      | $26646.17     | 0.00%             | 2032-09-10      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| WILLIAMS SCOTSMAN INC                                            | Williams Scotsman Inc                                                                                                        | CUSIP: 96949VAM5<br>LEI: 549300DAKDS8SCO1OT57 | Long             | DBT              | CORP              | US        |    150000 | PA      | $153428.25    | 0.01%             | 2029-06-15      | Fixed         | 6.63%                 | No            |                  2 | On Loan: No      |
| ARTERA SERVICES LLC                                              | Artera Services LLC                                                                                                          | CUSIP: 04302XAA2<br>LEI: 549300J2G34D0WX8Z443 | Long             | DBT              | CORP              | US        |    770000 | PA      | $680424.13    | 0.03%             | 2031-02-15      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| STELLANTIS FIN US INC                                            | Stellantis Finance US Inc                                                                                                    | CUSIP: 85855CAK6<br>LEI: 549300QZ0AI8Q7LNON33 | Long             | DBT              | CORP              | US        |    229000 | PA      | $232928.37    | 0.01%             | 2030-03-18      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| NABORS INDUSTRIES LTD                                            | Nabors Industries Ltd                                                                                                        | CUSIP: 629571AB6<br>LEI: 5493008TXYN3II3PU369 | Long             | DBT              | CORP              | BM        |    200000 | PA      | $199855.74    | 0.01%             | 2028-01-15      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| Olin Corp                                                        | Olin Corp                                                                                                                    | CUSIP: 680665AK2<br>LEI: 549300GKK294V7W57P06 | Long             | DBT              | CORP              | US        |    400000 | PA      | $390730.72    | 0.02%             | 2030-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| AERCAP IRELAND CAP/GLOBA                                         | AerCap Ireland Capital DAC / AerCap Global Aviation Trust                                                                    | CUSIP: 00774MBJ3<br>LEI: N/A                  | Long             | DBT              | CORP              | IE        |   1400000 | PA      | $1432987.40   | 0.07%             | 2029-01-19      | Fixed         | 5.10%                 | No            |                  2 | On Loan: No      |
| SLAM LLC                                                         | SLAM 2025-1 Ltd                                                                                                              | CUSIP: 78450TAA5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    877034 | PA      | $899481.35    | 0.04%             | 2050-05-15      | Fixed         | 5.81%                 | No            |                  2 | On Loan: No      |
| MPT OPER PARTNERSP/FINL                                          | MPT Operating Partnership LP / MPT Finance Corp                                                                              | CUSIP: 55342UAQ7<br>LEI: N/A                  | Long             | DBT              |  | US        |    130000 | PA      | $138133.06    | 0.01%             | 2032-02-15      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| BLACKSTONE PRIVATE CRE                                           | Blackstone Private Credit Fund                                                                                               | CUSIP: 09261HBC0<br>LEI: 549300ORP3TTCNXSYO43 | Long             | DBT              | CORP              | US        |   2950000 | PA      | $3151108.49   | 0.14%             | 2028-11-27      | Fixed         | 7.30%                 | No            |                  2 | On Loan: No      |
| ONEMAIN FINANCE CORP                                             | OneMain Finance Corp                                                                                                         | CUSIP: 682691AL4<br>LEI: 5493008I795YYBFWFU90 | Long             | DBT              | CORP              | US        |    135000 | PA      | $136712.48    | 0.01%             | 2030-05-15      | Fixed         | 6.13%                 | No            |                  2 | On Loan: No      |
| FORWARDS TD BANK COCOC                                           | FORWARDS TD BANK COCOC                                                                                                       | CUSIP: 000000000<br>LEI: N/A                  | Long             | STIV             | CORP              | US        |     41235 | NS      | $41235.00     | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| OT MIDCO LTD                                                     | OT Midco Ltd                                                                                                                 | CUSIP: 68877AAA2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    200000 | PA      | $135120.99    | 0.01%             | 2030-02-15      | Fixed         | 10.00%                | No            |                  2 | On Loan: No      |
| CHEMOURS CO                                                      | Chemours Co/The                                                                                                              | CUSIP: 163851AF5<br>LEI: 549300M1BOLNXL8DOV14 | Long             | DBT              | CORP              | US        |    250000 | PA      | $243843.68    | 0.01%             | 2028-11-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| BAUSCH HEALTH COS INC                                            | Bausch Health Cos Inc                                                                                                        | CUSIP: 071734AQ0<br>LEI: B3BS7ACMDUWISF18KY76 | Long             | DBT              | CORP              | CA        |    110000 | PA      | $114402.11    | 0.01%             | 2028-09-30      | Fixed         | 11.00%                | No            |                  2 | On Loan: No      |
| US FOODS INC                                                     | US Foods Inc                                                                                                                 | CUSIP: 90290MAJ0<br>LEI: 5493000JOOFAOUY1JZ87 | Long             | DBT              | CORP              | US        |    150000 | PA      | $150785.55    | 0.01%             | 2033-04-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| CABLEVISION LIGHTPATH                                            | Cablevision Lightpath LLC                                                                                                    | CUSIP: 12687GAA7<br>LEI: 5493002ZVBLRLGES1R71 | Long             | DBT              | CORP              | US        |     60000 | PA      | $58250.47     | 0.00%             | 2027-09-15      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                         | Ginnie Mae II Pool                                                                                                           | CUSIP: 3618N5KR9<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |     81291 | PA      | $72755.12     | 0.00%             | 2055-04-20      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| SAUDI INTERNATIONAL BOND                                         | Saudi Government International Bond                                                                                          | CUSIP: 80413TAR0<br>LEI: 635400FMICXSM3SI3H65 | Long             | DBT              | NUSS              | SA        |    100000 | PA      | $72101.61     | 0.00%             | 2055-01-21      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| BOEING CO                                                        | Boeing Co/The                                                                                                                | CUSIP: 097023DB8<br>LEI: RVHJWBXLJ1RFUBSY1F30 | Long             | DBT              | CORP              | US        |   2200000 | PA      | $2148780.15   | 0.10%             | 2028-02-01      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| TGS ASA                                                          | TGS ASA                                                                                                                      | CUSIP: 87243KAA7<br>LEI: 549300NUPLAXPB0WYH90 | Long             | DBT              | CORP              | NO        |    150000 | PA      | $154084.21    | 0.01%             | 2030-01-15      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| Navient Corp                                                     | Navient Corp                                                                                                                 | CUSIP: 78442FAZ1<br>LEI: 54930067J0ZNOEBRW338 | Long             | DBT              | CORP              | US        |    100000 | PA      | $91233.55     | 0.00%             | 2033-08-01      | Fixed         | 5.63%                 | No            |                  2 | On Loan: No      |
| PUBLICIS GROUPE SA                                               | Publicis Groupe SA                                                                                                           | CUSIP: 000000000<br>LEI: 2138004KW8BV57III342 | Long             | DBT              | CORP              | FR        |    100000 | PA      | $117382.92    | 0.01%             | 2032-06-12      | Fixed         | 3.38%                 | No            |                  2 | On Loan: No      |
| T-MOBILE USA INC                                                 | T-Mobile USA Inc                                                                                                             | CUSIP: 87264ADS1<br>LEI: 549300V2JRLO5DIFGE82 | Long             | DBT              | CORP              | US        |    915000 | PA      | $941679.25    | 0.04%             | 2032-05-15      | Fixed         | 5.13%                 | No            |                  2 | On Loan: No      |
| Wells Fargo Commercial Mortgage Trust                            | Wells Fargo Commercial Mortgage Trust 2024-5C2                                                                               | CUSIP: 95003UAJ9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    100000 | PA      | $102658.25    | 0.00%             | 2057-11-15      | Variable      | 6.53%                 | No            |                  2 | On Loan: No      |
| ASHTON WOODS USA/FINANCE                                         | Ashton Woods USA LLC / Ashton Woods Finance Co                                                                               | CUSIP: 045086AR6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     65000 | PA      | $65557.51     | 0.00%             | 2033-08-01      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                      | Freddie Mac Pool                                                                                                             | CUSIP: 3132DWE66<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    317038 | PA      | $308940.42    | 0.01%             | 2052-10-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| DISH DBS Corp                                                    | DISH DBS Corp                                                                                                                | CUSIP: 25470XAY1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    350000 | PA      | $346657.98    | 0.02%             | 2026-07-01      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| MDGH GMTN RSC LTD                                                | MDGH GMTN RSC Ltd                                                                                                            | CUSIP: 55285GAC8<br>LEI: 213800WRY6FRL9IXLT77 | Long             | DBT              | CORP              | AE        |    200000 | PA      | $187678.00    | 0.01%             | 2053-05-22      | Fixed         | 5.08%                 | No            |                  2 | On Loan: No      |
| MORGAN STANLEY                                                   | Morgan Stanley                                                                                                               | CUSIP: 61747YFH3<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |   2746000 | PA      | $2918629.93   | 0.13%             | 2029-11-01      | Fixed         | 6.41%                 | No            |                  2 | On Loan: No      |
| ANTERO MIDSTREAM PART/FI                                         | Antero Midstream Partners LP / Antero Midstream Finance Corp                                                                 | CUSIP: 03690AAM8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     70000 | PA      | $69689.61     | 0.00%             | 2033-10-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Brazil Government International Bonds                            | Brazil Government International Bonds                                                                                        | CUSIP: 105756BB5<br>LEI: 254900ZFY40OYEADAP90 | Long             | DBT              | NUSS              | BR        |    250000 | PA      | $291725.00    | 0.01%             | 2034-01-20      | Fixed         | 8.25%                 | No            |                  2 | On Loan: No      |
| Madison Park Funding Ltd                                         | Madison Park Funding XLVIII Ltd                                                                                              | CUSIP: 55821UAA2<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   9001405 | PA      | $9014646.43   | 0.41%             | 2033-04-19      | Floating      | 5.74%                 | No            |                  2 | On Loan: No      |
| RCO Mortgage LLC                                                 | RCO VIII Mortgage LLC 2025-3                                                                                                 | CUSIP: 74939GAA3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    431860 | PA      | $432840.10    | 0.02%             | 2030-05-25      | Variable      | 6.43%                 | No            |                  2 | On Loan: No      |
| VOLKSWAGEN BANK GMBH                                             | Volkswagen Bank GmbH                                                                                                         | CUSIP: 000000000<br>LEI: 529900GJD3OQLRZCKW37 | Long             | DBT              | CORP              | DE        |    100000 | PA      | $117499.12    | 0.01%             | 2031-06-19      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| ABU DHABI DEVELOPMENT HO                                         | Abu Dhabi Developmental Holding Co PJSC                                                                                      | CUSIP: 00402D2D6<br>LEI: 254900G082ZFKTCR2Q75 | Long             | DBT              | CORP              | AE        |    200000 | PA      | $196171.24    | 0.01%             | 2054-10-02      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                      | Freddie Mac REMICS                                                                                                           | CUSIP: 3137H6V28<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    375192 | PA      | $348227.77    | 0.02%             | 2050-08-25      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| WINDSOR HOLDINGS III LLC                                         | Windsor Holdings III LLC 2025 USD Term Loan B                                                                                | CUSIP: 97360BAH8<br>LEI: 254900IXUJZ9H146T437 | Long             | LON              | CORP              | US        |    498747 | PA      | $498746.87    | 0.02%             | 2030-08-01      | Floating      | 6.92%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                       | Fannie Mae Pool                                                                                                              | CUSIP: 3140X83K1<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   4516617 | PA      | $3676472.74   | 0.17%             | 2050-12-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| Kosmos Energy Ltd                                                | Kosmos Energy Ltd                                                                                                            | CUSIP: 500688AC0<br>LEI: 213800YDFJ3OT9B5P157 | Long             | DBT              | CORP              | US        |    210000 | PA      | $208729.84    | 0.01%             | 2026-04-04      | Fixed         | 7.13%                 | No            |                  2 | On Loan: No      |
| SREIT Trust                                                      | SREIT Trust 2021-MFP                                                                                                         | CUSIP: 78472UAA6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    419421 | PA      | $419027.54    | 0.02%             | 2038-11-15      | Floating      | 5.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                       | Fannie Mae Pool                                                                                                              | CUSIP: 3140XMYJ9<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   5529504 | PA      | $4915755.11   | 0.23%             | 2052-06-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Citigroup Global Markets, Inc.                                   | Long: LGA900000 CDS USD R V 01MEVENT LGA900000_PRO CMBX / Short: LGA900000 CDS USD P F  3.00000 LGA900000_FEE CMBX           | CUSIP: 000000000<br>LEI: MBNUM2BPBDO7JBLYG310 | N/A              | DCR              |  | US        |    700000 | OU      | $50335.52     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| ERO COPPER CORP                                                  | ERO Copper Corp                                                                                                              | CUSIP: 296006AA7<br>LEI: 549300KL8A21SEIO8I47 | Long             | DBT              | CORP              | CA        |    350000 | PA      | $349265.00    | 0.02%             | 2030-02-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| KONINKLIJKE KPN NV                                               | Koninklijke KPN NV                                                                                                           | CUSIP: 000000000<br>LEI: 549300YO0JZHAL7FVP81 | Long             | DBT              | CORP              | NL        |    200000 | PA      | $237620.12    | 0.01%             | 2036-02-16      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| ABU DHABI GOVT INT'L                                             | Abu Dhabi Government International Bond                                                                                      | CUSIP: 29135LAU4<br>LEI: 213800FER4348CINTA77 | Long             | DBT              | NUSS              | AE        |    200000 | PA      | $209273.96    | 0.01%             | 2054-04-30      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| WOLFSPEED INC                                                    | Wolfspeed Inc                                                                                                                | CUSIP: 977852AD4<br>LEI: 549300OGU88P3AW3TO93 | Long             | DBT              | CORP              | US        |    683000 | PA      | $307350.00    | 0.01%             | 2029-12-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| NEXUS BUYER LLC                                                  | NEXUS Buyer LLC 2025 Term Loan B                                                                                             | CUSIP: 65343UAH5<br>LEI: 254900PILSANV8WOOF24 | Long             | LON              | CORP              | US        |    746250 | PA      | $744115.73    | 0.03%             | 2031-07-31      | Floating      | 7.66%                 | No            |                  2 | On Loan: No      |
| ENBW INTL FINANCE BV                                             | EnBW International Finance BV                                                                                                | CUSIP: 000000000<br>LEI: 724500CNCIO1ZTJ0X675 | Long             | DBT              | CORP              | NL        |    240000 | PA      | $282325.83    | 0.01%             | 2035-11-20      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| SGH2 LLC                                                         | SGH2 LLC 2025 USD Term Loan B                                                                                                | CUSIP: 78424SAB8<br>LEI: N/A                  | Long             | LON              | CORP              | US        |     95000 | PA      | $95000.00     | 0.00%             | 2032-08-18      | Floating      | 8.51%                 | No            |                  2 | On Loan: No      |
| SMYRNA READY MIX CONCRET                                         | Smyrna Ready Mix Concrete LLC                                                                                                | CUSIP: 85236FAA1<br>LEI: 549300S7RFWHQFOIOY93 | Long             | DBT              | CORP              | US        |    200000 | PA      | $200063.60    | 0.01%             | 2028-11-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| IMPERIAL BRANDS FIN PLC                                          | Imperial Brands Finance PLC                                                                                                  | CUSIP: 000000000<br>LEI: 2138008L3B3MCG1DFS50 | Long             | DBT              | CORP              | GB        |    175000 | PA      | $226200.58    | 0.01%             | 2032-06-07      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| AXON ENTERPRISE INC                                              | Axon Enterprise Inc                                                                                                          | CUSIP: 05464CAC5<br>LEI: 549300QP2IEEGFE16681 | Long             | DBT              | CORP              | US        |    175000 | PA      | $179729.81    | 0.01%             | 2030-03-15      | Fixed         | 6.13%                 | No            |                  2 | On Loan: No      |
| Jersey Mikes Funding LLC                                         | Jersey Mike's Funding                                                                                                        | CUSIP: 476681AE1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    780000 | PA      | $796450.20    | 0.04%             | 2055-08-16      | Fixed         | 5.61%                 | No            |                  2 | On Loan: No      |
| Magnetite CLO Ltd                                                | Magnetite XXIX Ltd                                                                                                           | CUSIP: 55955KAL8<br>LEI: 549300XSCWZTP19VRZ67 | Long             | ABS-CBDO         | CORP              | KY        |   6500000 | PA      | $6519786.00   | 0.30%             | 2037-07-15      | Floating      | 5.67%                 | No            |                  2 | On Loan: No      |
| SGUS LLC                                                         | SGUS LLC                                                                                                                     | CUSIP: 81880AAA0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    149001 | PA      | $140459.67    | 0.01%             | 2029-12-15      | Fixed         | 11.00%                | No            |                  2 | On Loan: No      |
| State Street Global Advisors                                     | State Street Institutional US Government Money Market Fund                                                                   | CUSIP: 857492706<br>LEI: 549300BZ5TGIFZUZDZ37 | Long             | STIV             | RF                | US        |  54230026 | NS      | $54230025.58  | 2.48%             |  |  |  | No            |                  1 | On Loan: No      |
| CT TRUST                                                         | CT Trust                                                                                                                     | CUSIP: 12659BAA2<br>LEI: 213800MJB7WO427HQD34 | Long             | DBT              | CORP              | GT        |    200000 | PA      | $190470.22    | 0.01%             | 2032-02-03      | Fixed         | 5.13%                 | No            |                  2 | On Loan: No      |
| BAUSCH HEALTH COS INC                                            | Bausch Health Cos Inc                                                                                                        | CUSIP: 071734AJ6<br>LEI: B3BS7ACMDUWISF18KY76 | Long             | DBT              | CORP              | CA        |     50000 | PA      | $35250.00     | 0.00%             | 2030-01-30      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| JPMorgan Chase Bank NA                                           | PURCHASED USD / SOLD CAD                                                                                                     | CUSIP: 000000000<br>LEI: 7H6GLXDRUGQFU57RNE97 | N/A              | DFE              |  | US        |         1 | NC      | $45839.44     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| JPMDB Commercial Mortgage Securities Trust                       | JPMDB Commercial Mortgage Securities Trust 2019-COR6                                                                         | CUSIP: 48129RAX3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    800000 | PA      | $724362.00    | 0.03%             | 2052-11-13      | Fixed         | 3.06%                 | No            |                  2 | On Loan: No      |
| OPEN TEXT INC                                                    | Open Text Holdings Inc                                                                                                       | CUSIP: 683720AC0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    250000 | PA      | $231198.65    | 0.01%             | 2031-12-01      | Fixed         | 4.13%                 | No            |                  2 | On Loan: No      |
| PT PERTAMINA (PERSERO)                                           | Pertamina Persero PT                                                                                                         | CUSIP: 69370PAG6<br>LEI: 254900NDAKGNZ2IBBL45 | Long             | DBT              | CORP              | ID        |     50000 | PA      | $39132.50     | 0.00%             | 2050-01-21      | Fixed         | 4.18%                 | No            |                  2 | On Loan: No      |
| AMPRION GMBH                                                     | Amprion GmbH                                                                                                                 | CUSIP: 000000000<br>LEI: 529900ZIV0ETYHYZM863 | Long             | DBT              | CORP              | DE        |    100000 | PA      | $118136.31    | 0.01%             | 2036-06-05      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| LEG IMMOBILIEN SE                                                | LEG Immobilien SE                                                                                                            | CUSIP: 000000000<br>LEI: 391200SO40AKONBO0Z96 | Long             | DBT              | CORP              | DE        |    200000 | PA      | $231681.40    | 0.01%             | 2035-01-20      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| BAPCO ENERGIES BSCC                                              | Bapco Energies BSC Closed                                                                                                    | CUSIP: 67778M2D1<br>LEI: 549300OBH16L6TS6IW50 | Long             | DBT              | CORP              | BH        |     50000 | PA      | $54001.19     | 0.00%             | 2028-11-07      | Fixed         | 8.38%                 | No            |                  2 | On Loan: No      |
| SOTERA HEALTH HOLDINGS LLC                                       | SOTERA HEALTH HOLDINGS LLC 2025 TERM LOAN B                                                                                  | CUSIP: 83600VAH4<br>LEI: 549300OVT7MBXFLOFU20 | Long             | LON              | CORP              | US        |    236887 | PA      | $236986.36    | 0.01%             | 2031-05-30      | Floating      | 6.66%                 | No            |                  2 | On Loan: No      |
| KnowBe4 Inc                                                      | KnowBe4 Inc 2025 Term Loan                                                                                                   | CUSIP: 49925TAD7<br>LEI: 64883ZJ0RS5039H4PN24 | Long             | LON              | CORP              | US        |    130000 | PA      | $130000.00    | 0.01%             | 2032-07-23      | Floating      | 8.06%                 | No            |                  2 | On Loan: No      |
| UNIVISION COMMUNICATIONS                                         | Univision Communications Inc                                                                                                 | CUSIP: 914906AV4<br>LEI: 549300YQDE2JSGTL8V47 | Long             | DBT              | CORP              | US        |    145000 | PA      | $136767.93    | 0.01%             | 2029-05-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF ANGOLA                                               | Angolan Government International Bond                                                                                        | CUSIP: 035198AA8<br>LEI: 549300QHR2R3J8JSGK83 | Long             | DBT              | NUSS              | AO        |    200000 | PA      | $200374.99    | 0.01%             | 2025-11-12      | Fixed         | 9.50%                 | No            |                  2 | On Loan: No      |
| CAPITAL ONE FINANCIAL CO                                         | Capital One Financial Corp                                                                                                   | CUSIP: 14040HCS2<br>LEI: ZUE8T73ROZOF6FLBAR73 | Long             | DBT              | CORP              | US        |   2000000 | PA      | $2020598.06   | 0.09%             | 2028-05-10      | Fixed         | 4.93%                 | No            |                  2 | On Loan: No      |
| REINSURANCE GRP OF AMER                                          | Reinsurance Group of America Inc                                                                                             | CUSIP: 759351AP4<br>LEI: LORM1GNEU1DKEW527V90 | Long             | DBT              | CORP              | US        |   4590000 | PA      | $4330895.88   | 0.20%             | 2030-06-15      | Fixed         | 3.15%                 | No            |                  2 | On Loan: No      |
| Extended Stay America Trust                                      | Extended Stay America Trust 2021-ESH                                                                                         | CUSIP: 30227FAN0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    210819 | PA      | $210818.95    | 0.01%             | 2038-07-15      | Floating      | 7.96%                 | No            |                  2 | On Loan: No      |
| Argentina Republic Government International Bonds                | Argentina Republic Government International Bonds                                                                            | CUSIP: 040114HX1<br>LEI: 549300KPBYGYF7HCHO27 | Long             | DBT              | NUSS              | AR        |    197993 | PA      | $143406.19    | 0.01%             | 2029-07-09      | Fixed         | 1.00%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                      | Freddie Mac Pool                                                                                                             | CUSIP: 3133KPN95<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   4342269 | PA      | $4351442.57   | 0.20%             | 2052-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| AMYNTA AGENCY BORROWER INC                                       | Amynta Agency Borrower Inc 2025 Term Loan B                                                                                  | CUSIP: 57810JAM0<br>LEI: 5493000GP6HBRVTWBO85 | Long             | LON              | CORP              | US        |    249373 | PA      | $248348.52    | 0.01%             | 2031-12-29      | Floating      | 6.91%                 | No            |                  2 | On Loan: No      |
| NEW FORTRESS ENERGY INC                                          | New Fortress Energy Inc 2025 Incremental Term Loan B                                                                         | CUSIP: 64439HAC3<br>LEI: 254900EICTYTCHA5X705 | Long             | LON              | CORP              | US        |   2449212 | PA      | $1177850.78   | 0.05%             | 2028-10-30      | Floating      | 9.57%                 | No            |                  2 | On Loan: No      |
| Herschend Entertainment Company, LLC                             | Herschend Entertainment Company LLC 2025 Term Loan B                                                                         | CUSIP: 42778EAG6<br>LEI: 54930087KQ7RPDXK0716 | Long             | LON              | CORP              | US        |     79800 | PA      | $80016.26     | 0.00%             | 2032-05-27      | Floating      | 7.41%                 | No            |                  2 | On Loan: No      |
| MDGH GMTN RSC LTD                                                | MDGH GMTN RSC Ltd                                                                                                            | CUSIP: 55276VAJ1<br>LEI: 213800WRY6FRL9IXLT77 | Long             | DBT              | CORP              | AE        |    200000 | PA      | $190687.20    | 0.01%             | 2029-11-07      | Fixed         | 2.88%                 | No            |                  2 | On Loan: No      |
| UMBS, TBA                                                        | Uniform Mortgage-Backed Security, TBA                                                                                        | CUSIP: 01F0426A6<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |    300000 | PA      | $290957.36    | 0.01%             | 2055-10-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| CNX MIDSTREAM PART LP                                            | CNX Midstream Partners LP                                                                                                    | CUSIP: 12654AAA9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    200000 | PA      | $191787.14    | 0.01%             | 2030-04-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| Caesars Entertainment Inc                                        | Caesars Entertainment Inc Term Loan B                                                                                        | CUSIP: 12768EAG1<br>LEI: 549300FA4CTCW903Y781 | Long             | LON              | CORP              | US        |   1242378 | PA      | $1238166.38   | 0.06%             | 2030-02-06      | Floating      | 6.41%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF INDONESIA                                            | Indonesia Government International Bond                                                                                      | CUSIP: 455780BW5<br>LEI: 529900FWX0GRR7WG5W79 | Long             | DBT              | NUSS              | ID        |    250000 | PA      | $265929.57    | 0.01%             | 2046-01-08      | Fixed         | 5.95%                 | No            |                  2 | On Loan: No      |
| Weber-Stephen Products LLC                                       | Weber-Stephen Products LLC Term Loan B                                                                                       | CUSIP: 94767KAN1<br>LEI: 549300XU8TJBBGLK8V26 | Long             | LON              | CORP              | US        |    958825 | PA      | $948038.55    | 0.04%             | 2027-10-30      | Floating      | 7.53%                 | No            |                  2 | On Loan: No      |
| MSWF Commercial Mortgage Trust                                   | MSWF Commercial Mortgage Trust 2023-2                                                                                        | CUSIP: 55361AAZ7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    310000 | PA      | $324562.44    | 0.01%             | 2056-12-15      | Variable      | 7.25%                 | No            |                  2 | On Loan: No      |
| NORDSTROM INC                                                    | Nordstrom Inc                                                                                                                | CUSIP: 655664AT7<br>LEI: 549300S3IZB5P35KNV16 | Long             | DBT              | CORP              | US        |    100000 | PA      | $94094.19     | 0.00%             | 2030-04-01      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| Goldman Sachs & Co. LLC                                          | Long: LFC180000 CDS USD R V 01MEVENT LFC180000_PRO CMBX / Short: LFC180000 CDS USD P F  3.00000 LFC180000_FEE CMBX           | CUSIP: 000000000<br>LEI: FOR8UP27PHTHYVLBNG30 | N/A              | DCR              |  | US        |    700000 | OU      | $50335.52     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| GENESIS ENERGY LP/FIN                                            | Genesis Energy LP / Genesis Energy Finance Corp                                                                              | CUSIP: 37185LAR3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    265000 | PA      | $277176.47    | 0.01%             | 2033-05-15      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| KINGDOM OF BAHRAIN                                               | Bahrain Government International Bond                                                                                        | CUSIP: 05675M2J2<br>LEI: 549300RODM1WN85LFQ95 | Long             | DBT              | NUSS              | BH        |     50000 | PA      | $48509.17     | 0.00%             | 2034-05-18      | Fixed         | 5.63%                 | No            |                  2 | On Loan: No      |
| WARNERMEDIA HOLDINGS INC                                         | Warnermedia Holdings Inc                                                                                                     | CUSIP: 55903VBQ5<br>LEI: 549300DXR29GD4N0A520 | Long             | DBT              | CORP              | US        |     30000 | PA      | $27487.50     | 0.00%             | 2032-03-15      | Fixed         | 4.28%                 | No            |                  2 | On Loan: No      |
| VENTURE GLOBAL PLAQUE                                            | Venture Global Plaquemines LNG LLC                                                                                           | CUSIP: 922966AD8<br>LEI: 549300TKP4I6OJ02BF90 | Long             | DBT              | CORP              | US        |    205000 | PA      | $217746.29    | 0.01%             | 2036-01-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| United FP Holdings LLC                                           | United FP Holdings LLC 2019 2nd Lien Term Loan                                                                               | CUSIP: 91132UAD5<br>LEI: 2549002AF6PASVP2G486 | Long             | LON              | CORP              | US        |     50000 | PA      | $40062.50     | 0.00%             | 2027-12-30      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| AMERICAN AXLE & MFG INC                                          | American Axle & Manufacturing Inc                                                                                            | CUSIP: 02406PBD1<br>LEI: RY5TAKFOBLDUGX31MS24 | Long             | DBT              | CORP              | US        |    200000 | PA      | $201559.13    | 0.01%             | 2033-10-15      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| Republic of South Africa Government International Bonds          | Republic of South Africa Government International Bonds                                                                      | CUSIP: 836205BB9<br>LEI: 378900AAFB4F17004C49 | Long             | DBT              | NUSS              | ZA        |    200000 | PA      | $159937.99    | 0.01%             | 2049-09-30      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| NRG ENERGY INC                                                   | NRG Energy Inc                                                                                                               | CUSIP: 629377CY6<br>LEI: 5E2UPK5SW04M13XY7I38 | Long             | DBT              | CORP              | US        |    200000 | PA      | $200239.29    | 0.01%             | 2029-07-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| ARAB REPUBLIC OF EGYPT                                           | Egypt Government International Bond                                                                                          | CUSIP: 03846JX54<br>LEI: 529900GFIVH4086NMH82 | Long             | DBT              | NUSS              | EG        |    100000 | PA      | $98202.88     | 0.00%             | 2032-05-29      | Fixed         | 7.63%                 | No            |                  2 | On Loan: No      |
| UKRAINE GOVERNMENT                                               | Ukraine Government International Bond                                                                                        | CUSIP: 903724CF7<br>LEI: 6354001WLTJXOMEXPY07 | Long             | DBT              | NUSS              | UA        |     68995 | PA      | $33457.60     | 0.00%             | 2035-02-01      | Variable      | 0.00%                 | No            |                  2 | On Loan: No      |
| PENNYMAC FIN SVCS INC                                            | PennyMac Financial Services Inc                                                                                              | CUSIP: 70932MAF4<br>LEI: 549300W1D516HBDEU871 | Long             | DBT              | CORP              | US        |    150000 | PA      | $154966.05    | 0.01%             | 2033-02-15      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| Symphony CLO Ltd                                                 | Symphony CLO 43 Ltd                                                                                                          | CUSIP: 87170BAA4<br>LEI: 254900QCSPTCYRSY3N68 | Long             | ABS-CBDO         | CORP              | KY        |   6800000 | PA      | $6824214.80   | 0.31%             | 2037-04-15      | Floating      | 5.84%                 | No            |                  2 | On Loan: No      |
| SSE PLC                                                          | SSE PLC                                                                                                                      | CUSIP: 000000000<br>LEI: 549300KI75VYLLMSK856 | Long             | DBT              | CORP              | GB        |    100000 | PA      | $133536.14    | 0.01%             | 2026-01-14      | Fixed         | 3.74%                 | No            |                  2 | On Loan: No      |
| PENNYMAC FIN SVCS INC                                            | PennyMac Financial Services Inc                                                                                              | CUSIP: 70932MAG2<br>LEI: 549300W1D516HBDEU871 | Long             | DBT              | CORP              | US        |    180000 | PA      | $186515.46    | 0.01%             | 2032-05-15      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| BPCE SA                                                          | BPCE SA                                                                                                                      | CUSIP: 05571AAV7<br>LEI: 9695005MSX1OYEMGDF46 | Long             | DBT              | CORP              | FR        |    420000 | PA      | $434342.78    | 0.02%             | 2030-01-18      | Fixed         | 5.72%                 | No            |                  2 | On Loan: No      |
| ROMANIA                                                          | Romanian Government International Bond                                                                                       | CUSIP: 77586RAJ9<br>LEI: 315700IASY927EDWBK92 | Long             | DBT              | NUSS              | RO        |     85000 | PA      | $56660.16     | 0.00%             | 2051-02-14      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| ABG Intermediate Holdings 2 LLC                                  | ABG Intermediate Holdings 2 LLC 2024 1st Lien Term Loan B                                                                    | CUSIP: 00076VBL3<br>LEI: 54930020NXD0RJB64985 | Long             | LON              | CORP              | US        |    497487 | PA      | $496164.12    | 0.02%             | 2028-12-21      | Floating      | 6.41%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                       | Fannie Mae Pool                                                                                                              | CUSIP: 3138ERJN1<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   5202048 | PA      | $4703302.67   | 0.22%             | 2046-10-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| KFW                                                              | Kreditanstalt fuer Wiederaufbau                                                                                              | CUSIP: 500769KC7<br>LEI: 549300GDPG70E3MBBU98 | Long             | DBT              | CORP              | DE        |    450000 | PA      | $454550.78    | 0.02%             | 2029-03-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| NFE FINANCING LLC                                                | NFE Financing LLC                                                                                                            | CUSIP: 62909BAA5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    340000 | PA      | $99988.90     | 0.00%             | 2029-11-15      | Fixed         | 12.00%                | No            |                  2 | On Loan: No      |
| Froneri Lux Finco Sarl                                           | Froneri Lux Finco Sarl 2024 USD Term Loan B4                                                                                 | CUSIP: 000000000<br>LEI: 9845005YBZ75E5AA3B94 | Long             | LON              | CORP              | US        |    249282 | PA      | $247257.36    | 0.01%             | 2031-09-30      | Floating      | 6.20%                 | No            |                  2 | On Loan: No      |
| Chicago Board of Trade                                           | US ULTRA BOND CBT DEC25                                                                                                      | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DIR              |  | US        |       -12 | NC      | $13168.06     | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| UNIVISION COMMUNICATIONS                                         | Univision Communications Inc                                                                                                 | CUSIP: 914906AY8<br>LEI: 549300YQDE2JSGTL8V47 | Long             | DBT              | CORP              | US        |    150000 | PA      | $155433.00    | 0.01%             | 2028-08-15      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| KALLPA GENERACION SA                                             | Kallpa Generacion SA                                                                                                         | CUSIP: 48344FAC4<br>LEI: 549300NG1PWEI5BZG095 | Long             | DBT              | CORP              | PE        |    200000 | PA      | $201780.00    | 0.01%             | 2035-09-11      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Cooperatieve Rabobank UA                                         | Cooperatieve Rabobank UA                                                                                                     | CUSIP: 000000000<br>LEI: DG3RU1DBUFHT4ZF9WN62 | Long             | DBT              | CORP              | NL        |    300000 | PA      | $316753.79    | 0.01%             | 2031-05-07      | Fixed         | 1.13%                 | No            |                  2 | On Loan: No      |
| GGAM FINANCE LTD                                                 | GGAM Finance Ltd                                                                                                             | CUSIP: 36170JAA4<br>LEI: 254900X2QXEN0FVXRF65 | Long             | DBT              | CORP              | KY        |    400000 | PA      | $423381.60    | 0.02%             | 2028-06-15      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| TOPBUILD CORP                                                    | TopBuild Corp                                                                                                                | CUSIP: 89055FAC7<br>LEI: 5493007YSKHOL4RWII46 | Long             | DBT              | CORP              | US        |    100000 | PA      | $93745.02     | 0.00%             | 2032-02-15      | Fixed         | 4.13%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                       | Fannie Mae Pool                                                                                                              | CUSIP: 3140XLL71<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   5263293 | PA      | $5546330.07   | 0.25%             | 2042-01-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| NTT FINANCE CORP                                                 | NTT Finance Corp                                                                                                             | CUSIP: 62954WAP0<br>LEI: 3538007PR116187GD960 | Long             | DBT              | CORP              | JP        |    247000 | PA      | $248781.17    | 0.01%             | 2027-07-16      | Fixed         | 4.57%                 | No            |                  2 | On Loan: No      |
| Virgin Media Bristol LLC                                         | Virgin Media Bristol LLC 2023 USD Term Loan Y                                                                                | CUSIP: 000000000<br>LEI: 213800IQ982XX69LE276 | Long             | LON              | CORP              | US        |    500000 | PA      | $492550.00    | 0.02%             | 2031-03-31      | Floating      | 7.37%                 | No            |                  2 | On Loan: No      |
| MPT OPER PARTNERSP/FINL                                          | MPT Operating Partnership LP / MPT Finance Corp                                                                              | CUSIP: 55342UAH7<br>LEI: N/A                  | Long             | DBT              |  | US        |    450000 | PA      | $435927.47    | 0.02%             | 2027-10-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| WAND NEWCO 3 INC                                                 | Wand NewCo 3 Inc                                                                                                             | CUSIP: 933940AA6<br>LEI: 549300Y3VZEWMSQW8494 | Long             | DBT              | CORP              | US        |    100000 | PA      | $105362.00    | 0.00%             | 2032-01-30      | Fixed         | 7.63%                 | No            |                  2 | On Loan: No      |
| KODIAK GAS SERVICES LLC                                          | Kodiak Gas Services LLC                                                                                                      | CUSIP: 50012LAD6<br>LEI: 549300ZQBRWEUOVOM131 | Long             | DBT              | CORP              | US        |    215000 | PA      | $218907.81    | 0.01%             | 2033-10-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| YUM! BRANDS INC                                                  | Yum! Brands Inc                                                                                                              | CUSIP: 988498AP6<br>LEI: 549300JE8XHZZ7OHN517 | Long             | DBT              | CORP              | US        |    350000 | PA      | $340065.71    | 0.02%             | 2032-01-31      | Fixed         | 4.63%                 | No            |                  2 | On Loan: No      |
| ROCC Trust                                                       | ROCK Trust 2024-CNTR                                                                                                         | CUSIP: 74970WAJ9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    250000 | PA      | $261474.30    | 0.01%             | 2041-11-13      | Fixed         | 8.82%                 | No            |                  2 | On Loan: No      |
| TRANSDIGM INC                                                    | TransDigm Inc                                                                                                                | CUSIP: 893647BZ9<br>LEI: 88Q84GB3X55CF5OC7582 | Long             | DBT              | CORP              | US        |     45000 | PA      | $46278.85     | 0.00%             | 2034-01-31      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| REWORLD HOLDING CORP                                             | Reworld Holding Corp                                                                                                         | CUSIP: 22303XAA3<br>LEI: 40XIFLS8XDQGGHGPGC04 | Long             | DBT              | CORP              | US        |    145000 | PA      | $136367.82    | 0.01%             | 2029-12-01      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| RR Ltd                                                           | RR 34 LTD                                                                                                                    | CUSIP: 74988WAA8<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    250000 | PA      | $250842.75    | 0.01%             | 2039-10-15      | Floating      | 5.67%                 | No            |                  2 | On Loan: No      |
| LD CELULOSE INTERNATIONA                                         | LD Celulose International GmbH                                                                                               | CUSIP: 50206BAA0<br>LEI: 529900EHUSQJVOTP9J45 | Long             | DBT              | CORP              | AT        |    200000 | PA      | $211451.60    | 0.01%             | 2032-01-26      | Fixed         | 7.95%                 | No            |                  2 | On Loan: No      |
| PRIORITY HOLDINGS LLC                                            | Priority Holdings LLC 2025 Term Loan B                                                                                       | CUSIP: 74275TAH2<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    110000 | PA      | $110103.40    | 0.01%             | 2032-07-30      | Floating      | 7.91%                 | No            |                  2 | On Loan: No      |
| QUIDELORTHO CORP                                                 | QUIDELORTHO CORP TERM LOAN                                                                                                   | CUSIP: 74840YAH7<br>LEI: 549300YU8CMO9HF53113 | Long             | LON              | CORP              | US        |    435000 | PA      | $432463.95    | 0.02%             | 2032-08-20      | Floating      | 8.00%                 | No            |                  2 | On Loan: No      |
| VDCM Commercial Mortgage Trust                                   | VDCM Commercial Mortgage Trust 2025-AZ                                                                                       | CUSIP: 91825CAE5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    100000 | PA      | $101118.89    | 0.00%             | 2044-07-13      | Variable      | 6.03%                 | No            |                  2 | On Loan: No      |
| APOLLO GLOBAL MANAGEMENT                                         | Apollo Global Management Inc                                                                                                 | CUSIP: 03769M304<br>LEI: 254900LMFT1CY9IYB476 | Long             | EP               | CORP              | US        |      1000 | NS      | $70280.00     | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| GREAT PORTLAND ESTATES                                           | Great Portland Estates PLC                                                                                                   | CUSIP: 000000000<br>LEI: 213800JMEDD2Q4N1MC42 | Long             | DBT              |  | GB        |    340000 | PA      | $457840.15    | 0.02%             | 2031-09-25      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| COMM Mortgage Trust                                              | COMM 2025-180W Mortgage Trust                                                                                                | CUSIP: 12597SAJ1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    100000 | PA      | $97097.74     | 0.00%             | 2042-08-10      | Variable      | 7.61%                 | No            |                  2 | On Loan: No      |
| ALBERTSONS COS/SAFEWAY                                           | Albertsons Cos Inc / Safeway Inc / New Albertsons LP / Albertsons LLC                                                        | CUSIP: 013092AE1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    200000 | PA      | $196451.07    | 0.01%             | 2030-02-15      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| ONEOK INC                                                        | ONEOK Inc                                                                                                                    | CUSIP: 682680CE1<br>LEI: 2T3D6M0JSY48PSZI1Q41 | Long             | DBT              | CORP              | US        |   1353000 | PA      | $1334301.00   | 0.06%             | 2034-11-01      | Fixed         | 5.05%                 | No            |                  2 | On Loan: No      |
| Endo Luxembourg Finance Company I S.a r.l.                       | Endo Luxembourg Finance Company I Sa rl 2024 1st Lien Term Loan                                                              | CUSIP: 29280UAD5<br>LEI: 222100B15VY0VVCTG251 | Long             | LON              | CORP              | US        |    497487 | PA      | $498213.77    | 0.02%             | 2031-04-23      | Floating      | 8.16%                 | No            |                  2 | On Loan: No      |
| Clydesdale Acquisition Holdings Inc                              | Clydesdale Acquisition Holdings Inc Term Loan B                                                                              | CUSIP: 18972FAC6<br>LEI: 254900QKSDYFR3K5YD98 | Long             | LON              | CORP              | US        |   1500000 | PA      | $1497465.00   | 0.07%             | 2029-04-13      | Floating      | 7.34%                 | No            |                  2 | On Loan: No      |
| GEN II FUND SERVICES LLC                                         | GEN II Fund Services LLC 2024 Term Loan B                                                                                    | CUSIP: 69381MAB1<br>LEI: 2138006XMWHEBFQ55Z05 | Long             | LON              | CORP              | US        |    248750 | PA      | $248645.53    | 0.01%             | 2031-11-26      | Floating      | 6.75%                 | No            |                  2 | On Loan: No      |
| JAPAN TOBACCO INC                                                | Japan Tobacco Inc                                                                                                            | CUSIP: 471105AE6<br>LEI: 353800Z0ENYBQO0XRJ31 | Long             | DBT              | CORP              | JP        |    325000 | PA      | $346075.84    | 0.02%             | 2035-06-15      | Fixed         | 5.85%                 | No            |                  2 | On Loan: No      |
| AIR LEASE CORP                                                   | Air Lease Corp                                                                                                               | CUSIP: 00912XBK9<br>LEI: 5493004NW4M4P8TMMK63 | Long             | DBT              | CORP              | US        |    345000 | PA      | $333449.23    | 0.02%             | 2026-12-15      | Fixed         | 4.13%                 | No            |                  2 | On Loan: No      |
| CONSOLIDATED ENERGY FIN                                          | Consolidated Energy Finance SA                                                                                               | CUSIP: 20914UAE6<br>LEI: 549300PUNIS0USNSL750 | Long             | DBT              | CORP              | LU        |     30000 | PA      | $29197.85     | 0.00%             | 2026-05-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| BX Trust                                                         | BX Commercial Mortgage Trust 2021-XL2                                                                                        | CUSIP: 05609KAN9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     74352 | PA      | $74397.72     | 0.00%             | 2038-10-15      | Floating      | 7.11%                 | No            |                  2 | On Loan: No      |
| SOUTH WEST WATER FIN PLC                                         | South West Water Finance PLC                                                                                                 | CUSIP: 000000000<br>LEI: 213800OV68U446W4NV89 | Long             | DBT              | CORP              | GB        |    125000 | PA      | $166882.42    | 0.01%             | 2031-09-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| UNITED UTILITIES WAT FIN                                         | United Utilities Water Finance PLC                                                                                           | CUSIP: 000000000<br>LEI: 213800313INX42GDLR44 | Long             | DBT              | CORP              | GB        |    100000 | PA      | $116655.13    | 0.01%             | 2033-02-27      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| MC BRAZIL DWNSTRM                                                | MC Brazil Downstream Trading SARL                                                                                            | CUSIP: 55292WAA8<br>LEI: 213800T2A7R9TYNXZI63 | Long             | DBT              | CORP              | LU        |    228052 | PA      | $195274.27    | 0.01%             | 2031-06-30      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| BPR Trust                                                        | BPR Commercial Mortgage Trust 2024-PARK                                                                                      | CUSIP: 05593UAJ4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    120000 | PA      | $123687.06    | 0.01%             | 2039-11-05      | Variable      | 7.23%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                      | Freddie Mac Pool                                                                                                             | CUSIP: 3132DVLW3<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     17601 | PA      | $14437.96     | 0.00%             | 2051-05-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                       | Fannie Mae Pool                                                                                                              | CUSIP: 3140XDXZ4<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   2108016 | PA      | $1810732.86   | 0.08%             | 2051-12-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| WHIRLPOOL CORP                                                   | Whirlpool Corp                                                                                                               | CUSIP: 963320BE5<br>LEI: WHENKOULSSK7WUM60H03 | Long             | DBT              | CORP              | US        |    260000 | PA      | $259464.71    | 0.01%             | 2033-06-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| CSN ISLANDS XI CORP                                              | CSN Inova Ventures                                                                                                           | CUSIP: 12642KAB0<br>LEI: 222100R8R68DM7VM3661 | Long             | DBT              | CORP              | KY        |    150000 | PA      | $145534.91    | 0.01%             | 2028-01-28      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| HILTON DOMESTIC OPERATIN                                         | Hilton Domestic Operating Co Inc                                                                                             | CUSIP: 432833AN1<br>LEI: 5493003EG7H0N1E4XV50 | Long             | DBT              | CORP              | US        |    420000 | PA      | $384344.23    | 0.02%             | 2032-02-15      | Fixed         | 3.63%                 | No            |                  2 | On Loan: No      |
| SUBWAY FUNDING LLC                                               | Subway Funding LLC                                                                                                           | CUSIP: 864300AA6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   2898100 | PA      | $2938109.14   | 0.13%             | 2054-07-30      | Fixed         | 6.03%                 | No            |                  2 | On Loan: No      |
| VENTAS REALTY LP                                                 | Ventas Realty LP                                                                                                             | CUSIP: 92277GAU1<br>LEI: 32SXKSJ72K64GM3HOU64 | Long             | DBT              |  | US        |   4570000 | PA      | $4326265.31   | 0.20%             | 2030-01-15      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| BAYER US FINANCE LLC                                             | Bayer US Finance LLC                                                                                                         | CUSIP: 07274EAL7<br>LEI: 54930093Q75GSEM74I71 | Long             | DBT              | CORP              | US        |    700000 | PA      | $755108.01    | 0.03%             | 2033-11-21      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                       | Fannie Mae Pool                                                                                                              | CUSIP: 3138ESAD0<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    572985 | PA      | $596156.13    | 0.03%             | 2044-05-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| USA COM PART/USA COM FIN                                         | USA Compression Partners LP / USA Compression Finance Corp                                                                   | CUSIP: 91740PAF5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     85000 | PA      | $84980.88     | 0.00%             | 2027-09-01      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| TransDigm Inc                                                    | TransDigm Inc 2023 Term Loan J                                                                                               | CUSIP: 89364MCA0<br>LEI: 88Q84GB3X55CF5OC7582 | Long             | LON              | CORP              | US        |    744965 | PA      | $744481.17    | 0.03%             | 2031-02-28      | Floating      | 6.50%                 | No            |                  2 | On Loan: No      |
| CLARIOS GLOBAL LP                                                | Clarios Global LP 2024 USD Term Loan B                                                                                       | CUSIP: 000000000<br>LEI: 549300474L1ZLXZY2P98 | Long             | LON              | CORP              | US        |    746241 | PA      | $745539.13    | 0.03%             | 2030-05-06      | Floating      | 6.66%                 | No            |                  2 | On Loan: No      |
| GLOBAL PART/GLP FINANCE                                          | Global Partners LP / GLP Finance Corp                                                                                        | CUSIP: 37954FAJ3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    150000 | PA      | $151308.90    | 0.01%             | 2029-01-15      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| Dominos Pizza Master Issuer LLC                                  | Domino's Pizza Master Issuer LLC                                                                                             | CUSIP: 25755TAP5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    889838 | PA      | $813494.87    | 0.04%             | 2051-04-25      | Fixed         | 3.15%                 | No            |                  2 | On Loan: No      |
| HUNGARY                                                          | Hungary Government International Bond                                                                                        | CUSIP: 445545AM8<br>LEI: 5299003F3UFKGCCMAP43 | Long             | DBT              | NUSS              | HU        |    200000 | PA      | $171831.47    | 0.01%             | 2031-09-22      | Fixed         | 2.13%                 | No            |                  2 | On Loan: No      |
| X.AI Corp                                                        | XAI Corp Fixed Term Loan                                                                                                     | CUSIP: 98402XAB1<br>LEI: N/A                  | Long             | LON              | CORP              | US        |     35000 | PA      | $36206.10     | 0.00%             | 2030-06-28      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Morgan Stanley Residential Mortgage Loan Trust                   | Morgan Stanley Residential Mortgage Loan Trust 2025-NQM3                                                                     | CUSIP: 61778LAA3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    494989 | PA      | $499972.96    | 0.02%             | 2070-05-25      | Variable      | 5.53%                 | No            |                  2 | On Loan: No      |
| ELECTRICITE DE FRANCE SA                                         | Electricite de France SA                                                                                                     | CUSIP: 000000000<br>LEI: 549300X3UK4GG3FNMO06 | Long             | DBT              | CORP              | FR        |    300000 | PA      | $391830.97    | 0.02%             | 2035-01-25      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| AXALTA COATING SYSTEMS D                                         | Axalta Coating Systems Dutch Holding B BV                                                                                    | CUSIP: 05455JAA5<br>LEI: 5493007DMEBZH3CQ5E51 | Long             | DBT              | CORP              | NL        |    100000 | PA      | $104621.95    | 0.00%             | 2031-02-15      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| UBER TECHNOLOGIES INC                                            | Uber Technologies Inc                                                                                                        | CUSIP: 90353TAT7<br>LEI: 549300B2FTG34FILDR98 | Long             | DBT              | CORP              | US        |    884000 | PA      | $875926.60    | 0.04%             | 2031-01-15      | Fixed         | 4.15%                 | No            |                  2 | On Loan: No      |
| BMP Trust                                                        | BMP 2024-MF23                                                                                                                | CUSIP: 05593JAJ9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    100000 | PA      | $99999.85     | 0.00%             | 2041-06-15      | Floating      | 7.54%                 | No            |                  2 | On Loan: No      |
| TARGA RESOURCES PARTNERS                                         | Targa Resources Partners LP / Targa Resources Partners Finance Corp                                                          | CUSIP: 87612BBG6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   4355000 | PA      | $4359866.54   | 0.20%             | 2028-01-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Saudi Arabian Oil Co                                             | Saudi Arabian Oil Co                                                                                                         | CUSIP: 80414L2E4<br>LEI: 5586006WD91QHB7J4X50 | Long             | DBT              | CORP              | SA        |    300000 | PA      | $272380.20    | 0.01%             | 2039-04-16      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| REWE INT FINANCE                                                 | REWE International Finance BV                                                                                                | CUSIP: 000000000<br>LEI: 5299003XLG8J4YTHLX44 | Long             | DBT              | CORP              | NL        |    200000 | PA      | $252113.13    | 0.01%             | 2030-09-13      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| CLEVELAND-CLIFFS INC                                             | Cleveland-Cliffs Inc                                                                                                         | CUSIP: 185899AP6<br>LEI: 549300TM2WLI2BJMDD86 | Long             | DBT              | CORP              | US        |    200000 | PA      | $201993.00    | 0.01%             | 2032-03-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| ARIS MINING CORP                                                 | Aris Mining Corp                                                                                                             | CUSIP: 04040YAB5<br>LEI: 5493001GJ5TILX6L1F82 | Long             | DBT              | CORP              | CA        |    250000 | PA      | $259920.00    | 0.01%             | 2029-10-31      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| DISH DBS CORP                                                    | DISH DBS Corp                                                                                                                | CUSIP: 25470XBE4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     30000 | PA      | $29477.83     | 0.00%             | 2026-12-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| JPMorgan Chase Bank NA                                           | PURCHASED USD / SOLD EUR                                                                                                     | CUSIP: 000000000<br>LEI: 7H6GLXDRUGQFU57RNE97 | N/A              | DFE              |  | US        |         1 | NC      | $271.22       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| BX Trust                                                         | BX Trust 2021-LBA                                                                                                            | CUSIP: 05609BBH1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    197702 | PA      | $197208.28    | 0.01%             | 2036-02-15      | Floating      | 6.27%                 | No            |                  2 | On Loan: No      |
| NIAGARA ENERGY SAC                                               | Niagara Energy SAC                                                                                                           | CUSIP: 65345YAA0<br>LEI: 254900V9UGCG42YQ6848 | Long             | DBT              | CORP              | PE        |    200000 | PA      | $205937.11    | 0.01%             | 2034-10-03      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| VOLKSWAGEN INTL FIN NV                                           | Volkswagen International Finance NV                                                                                          | CUSIP: 000000000<br>LEI: 5299004PWNHKYTR23649 | Long             | DBT              | CORP              | NL        |    200000 | PA      | $230120.97    | 0.01%             | 2029-06-17      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| Discovery Purchaser Corporation                                  | Discovery Purchaser Corporation Term Loan                                                                                    | CUSIP: 25471NAC0<br>LEI: 2549001LSO1ZBIPA5D65 | Long             | LON              | CORP              | US        |    498750 | PA      | $495842.29    | 0.02%             | 2029-10-04      | Floating      | 8.08%                 | No            |                  2 | On Loan: No      |
| CBRE EUROPE LOGISTICS PA                                         | CBRE Europe Logistics Partners SCA SICAV-SIF                                                                                 | CUSIP: 000000000<br>LEI: 529900ZG3L6Z4K64S041 | Long             | DBT              | CORP              | LU        |    100000 | PA      | $116396.32    | 0.01%             | 2032-09-22      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| BEAZER HOMES USA                                                 | Beazer Homes USA Inc                                                                                                         | CUSIP: 07556QBU8<br>LEI: 549300DUPYT2T0F60I45 | Long             | DBT              | CORP              | US        |    100000 | PA      | $101332.40    | 0.00%             | 2031-03-15      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| SPLAT SUPER HOLDCO LLC                                           | Splat Super Holdco LLC 2025 Term Loan                                                                                        | CUSIP: 000000000<br>LEI: 549300440PU6D6ZUIR97 | Long             | LON              | CORP              | US        |    260891 | PA      | $256195.05    | 0.01%             | 2032-07-02      | Floating      | 9.16%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                      | Freddie Mac Pool                                                                                                             | CUSIP: 3133KLJ57<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   6772608 | PA      | $5805404.00   | 0.27%             | 2051-03-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| SAUDI ARABIAN OIL CO                                             | Saudi Arabian Oil Co                                                                                                         | CUSIP: 80414L2L8<br>LEI: 5586006WD91QHB7J4X50 | Long             | DBT              | CORP              | SA        |    150000 | PA      | $102631.50    | 0.00%             | 2050-11-24      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| VIRGIN MEDIA SECURED FIN                                         | Virgin Media Secured Finance PLC                                                                                             | CUSIP: 92769XAR6<br>LEI: 213800X3RLP4NOTPY579 | Long             | DBT              | CORP              | GB        |    300000 | PA      | $282852.21    | 0.01%             | 2030-08-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Palmer Square Loan Funding Ltd                                   | Palmer Square Loan Funding 2025-2 Ltd                                                                                        | CUSIP: 69704AAA9<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   1257000 | PA      | $1256885.61   | 0.06%             | 2033-07-15      | Floating      | 5.23%                 | No            |                  2 | On Loan: No      |
| PRIMA Capital LTD                                                | Prima Capital CRE Securitization 2019-VII Ltd                                                                                | CUSIP: 74166VAC0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    100000 | PA      | $94571.27     | 0.00%             | 2050-12-25      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| Goldman Sachs & Co. LLC                                          | Long: LGX306000 CDS USD R V 01MEVENT LGX306000_PRO CMBX / Short: LGX306000 CDS USD P F  3.00000 LGX306000_FEE CMBX           | CUSIP: 000000000<br>LEI: FOR8UP27PHTHYVLBNG30 | N/A              | DCR              |  | US        |    700000 | OU      | $50335.52     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| BANCO DO BRASIL (CAYMAN)                                         | Banco do Brasil SA/Cayman                                                                                                    | CUSIP: 05958AAK4<br>LEI: QE0Q0253K88YAGNPE356 | Long             | DBT              | CORP              | BR        |    200000 | PA      | $200300.00    | 0.01%             | 2025-10-15      | Fixed         | 8.75%                 | No            |                  2 | On Loan: No      |
| BENCHMARK Mortgage Trust                                         | Benchmark 2025-B41 Mortgage Trust                                                                                            | CUSIP: 081935BC1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    100000 | PA      | $101807.19    | 0.00%             | 2068-07-15      | Fixed         | 6.14%                 | No            |                  2 | On Loan: No      |
| KAZMUNAYGAS NATIONAL CO                                          | KazMunayGas National Co JSC                                                                                                  | CUSIP: 48667QAQ8<br>LEI: 2138001H1M69RFJCSH88 | Long             | DBT              | CORP              | KZ        |    100000 | PA      | $102753.75    | 0.00%             | 2030-04-24      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| Aroundtown SA                                                    | Aroundtown SA                                                                                                                | CUSIP: 000000000<br>LEI: 529900H4DWG3KWMBMQ39 | Long             | DBT              | CORP              | LU        |    295000 | PA      | $359420.05    | 0.02%             | 2031-04-10      | Fixed         | 3.63%                 | No            |                  2 | On Loan: No      |
| STRATEGY INC                                                     | Strategy Inc                                                                                                                 | CUSIP: 594972861<br>LEI: 549300WQTWEJUEHXQX21 | Long             | EP               | CORP              | US        |      3100 | NS      | $244001.00    | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| CAMELOT RETURN MERGER SU                                         | Camelot Return Merger Sub Inc                                                                                                | CUSIP: 13323NAA0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    135000 | PA      | $130613.20    | 0.01%             | 2028-08-01      | Fixed         | 8.75%                 | No            |                  2 | On Loan: No      |
| BANK GOSPODARSTWA KRAJOW                                         | Bank Gospodarstwa Krajowego                                                                                                  | CUSIP: 06237MAD5<br>LEI: 259400BCOV9JJIGLYF05 | Long             | DBT              | NUSS              | PL        |    200000 | PA      | $208013.61    | 0.01%             | 2054-07-09      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| Chicago Board of Trade                                           | US LONG BOND(CBT) DEC25                                                                                                      | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DIR              |  | US        |        26 | NC      | $-34727.54    | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| HOWARD HUGHES CORP                                               | Howard Hughes Corp/The                                                                                                       | CUSIP: 44267DAF4<br>LEI: 549300BVHY25JZC1KI49 | Long             | DBT              | CORP              | US        |    100000 | PA      | $93756.53     | 0.00%             | 2031-02-01      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| ASTON MARTIN CAPITAL HOL                                         | Aston Martin Capital Holdings Ltd                                                                                            | CUSIP: 04625HAJ8<br>LEI: 213800H4GKEF3CJ8C774 | Long             | DBT              | CORP              | JE        |    215000 | PA      | $210497.00    | 0.01%             | 2029-03-31      | Fixed         | 10.00%                | No            |                  2 | On Loan: No      |
| KINGDOM OF MOROCCO                                               | Morocco Government International Bond                                                                                        | CUSIP: 617726AP9<br>LEI: 529900F3MBW9XY5K1X07 | Long             | DBT              | NUSS              | MA        |    200000 | PA      | $219712.18    | 0.01%             | 2033-09-08      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF VENEZUELA                                            | Venezuela Government International Bond                                                                                      | CUSIP: 922646AS3<br>LEI: 529900XM8PJTJK5OJI77 | Long             | DBT              | NUSS              | VE        |    550000 | PA      | $132055.00    | 0.01%             | 2027-09-15      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Merit                                                            | MHP 2022-MHIL                                                                                                                | CUSIP: 55293DAJ0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    200000 | PA      | $199999.92    | 0.01%             | 2039-01-15      | Floating      | 6.76%                 | No            |                  2 | On Loan: No      |
| JPMORGAN CHASE & CO                                              | JPMorgan Chase & Co                                                                                                          | CUSIP: 46647PEH5<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | DBT              | CORP              | US        |   7040000 | PA      | $7500324.90   | 0.34%             | 2035-04-22      | Fixed         | 5.77%                 | No            |                  2 | On Loan: No      |
| KFW                                                              | Kreditanstalt fuer Wiederaufbau                                                                                              | CUSIP: 000000000<br>LEI: 549300GDPG70E3MBBU98 | Long             | DBT              | CORP              | DE        |    110000 | PA      | $113174.22    | 0.01%             | 2031-01-10      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| SENSATA TECHNOLOGIES INC                                         | Sensata Technologies Inc                                                                                                     | CUSIP: 81728UAC8<br>LEI: 5493002MMDDCUNV7NY90 | Long             | DBT              | CORP              | US        |    150000 | PA      | $155216.70    | 0.01%             | 2032-07-15      | Fixed         | 6.63%                 | No            |                  2 | On Loan: No      |
| Sixth Street CLO LTD.                                            | Sixth Street CLO XVIII Ltd                                                                                                   | CUSIP: 83012HAL8<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   1240000 | PA      | $1242590.36   | 0.06%             | 2038-10-17      | Floating      | 5.46%                 | No            |                  2 | On Loan: No      |
| USI Inc                                                          | USI Inc 2024 Term Loan C                                                                                                     | CUSIP: 90351NAQ8<br>LEI: 2549006D7UF7072T7I27 | Long             | LON              | CORP              | US        |    497487 | PA      | $496691.46    | 0.02%             | 2030-09-29      | Floating      | 6.25%                 | No            |                  2 | On Loan: No      |
| Hilton Grand Vacations Borrower LLC                              | Hilton Grand Vacations Borrower LLC 2021 Term Loan B                                                                         | CUSIP: 43283LAH4<br>LEI: 254900HF0EZ734FDVY79 | Long             | LON              | CORP              | US        |    749088 | PA      | $747874.76    | 0.03%             | 2028-08-02      | Floating      | 6.16%                 | No            |                  2 | On Loan: No      |
| SOTERA HEALTH HLDGS LLC                                          | Sotera Health Holdings LLC                                                                                                   | CUSIP: 83600WAE9<br>LEI: 549300OVT7MBXFLOFU20 | Long             | DBT              | CORP              | US        |    100000 | PA      | $105001.80    | 0.00%             | 2031-06-01      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| AthenaHealth Group Inc                                           | Athenahealth Group Inc 2022 Term Loan B                                                                                      | CUSIP: 04686RAB9<br>LEI: 254900AA3KZN4Q7A5Z33 | Long             | LON              | CORP              | US        |    746250 | PA      | $744384.38    | 0.03%             | 2029-02-15      | Floating      | 6.91%                 | No            |                  2 | On Loan: No      |
| LGI HOMES INC                                                    | LGI Homes Inc                                                                                                                | CUSIP: 50187TAF3<br>LEI: 549300W02B4WNV8CV109 | Long             | DBT              | CORP              | US        |    100000 | PA      | $91246.99     | 0.00%             | 2029-07-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| MSWF Commercial Mortgage Trust                                   | MSWF Commercial Mortgage Trust 2023-2                                                                                        | CUSIP: 55361AAE4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    136000 | PA      | $107611.62    | 0.00%             | 2056-12-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| GS Mortgage Securities Trust                                     | GS Mortgage Securities Trust 2019-GC42                                                                                       | CUSIP: 36257UAS6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    155000 | PA      | $133091.68    | 0.01%             | 2052-09-10      | Variable      | 3.82%                 | No            |                  2 | On Loan: No      |
| BNP Paribas SA                                                   | PURCHASED USD / SOLD GBP                                                                                                     | CUSIP: 000000000<br>LEI: R0MUWSFPU8MPRO8K5P83 | N/A              | DFE              |  | US        |         1 | NC      | $-1255.66     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| GEOPARK LTD                                                      | Geopark Ltd                                                                                                                  | CUSIP: 37255BAC3<br>LEI: 529900ZR5QI19AH4KZ07 | Long             | DBT              | CORP              | BM        |    250000 | PA      | $226000.00    | 0.01%             | 2030-01-31      | Fixed         | 8.75%                 | No            |                  2 | On Loan: No      |
| T-MOBILE USA INC                                                 | T-Mobile USA Inc                                                                                                             | CUSIP: 87264ABL8<br>LEI: 549300V2JRLO5DIFGE82 | Long             | DBT              | CORP              | US        |    580000 | PA      | $435825.37    | 0.02%             | 2041-02-15      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| 180 MEDICAL INC                                                  | 180 Medical Inc                                                                                                              | CUSIP: 682357AA6<br>LEI: 254900ZB648OPWVFVX59 | Long             | DBT              | CORP              | US        |    100000 | PA      | $95729.64     | 0.00%             | 2029-10-15      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| DEUTSCHE BANK NY                                                 | Deutsche Bank AG/New York NY                                                                                                 | CUSIP: 251526CU1<br>LEI: 7LTWFZYICNSX8D621K86 | Long             | DBT              | CORP              | DE        |   2599000 | PA      | $2780042.78   | 0.13%             | 2029-11-20      | Fixed         | 6.82%                 | No            |                  2 | On Loan: No      |
| CITIGROUP INC                                                    | Citigroup Inc                                                                                                                | CUSIP: 17327CBC6<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |    135000 | PA      | $139125.20    | 0.01%             | 2030-08-15      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                       | Fannie Mae Pool                                                                                                              | CUSIP: 3140Y6ZA1<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    702411 | PA      | $740837.29    | 0.03%             | 2055-07-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| CAPITAL ONE FINANCIAL CO                                         | Capital One Financial Corp                                                                                                   | CUSIP: 14040HCZ6<br>LEI: ZUE8T73ROZOF6FLBAR73 | Long             | DBT              | CORP              | US        |   5000000 | PA      | $5245060.25   | 0.24%             | 2029-06-08      | Fixed         | 6.31%                 | No            |                  2 | On Loan: No      |
| CLOUD SOFTWARE GRP INC                                           | Cloud Software Group Inc                                                                                                     | CUSIP: 18912UAA0<br>LEI: 04EEB871XLHVNY4RZJ65 | Long             | DBT              | CORP              | US        |    545000 | PA      | $565277.49    | 0.03%             | 2029-09-30      | Fixed         | 9.00%                 | No            |                  2 | On Loan: No      |
| MARB BONDCO PLC                                                  | MARB BondCo PLC                                                                                                              | CUSIP: 566007AC4<br>LEI: 254900PVA1EU6QM1JN57 | Long             | DBT              | CORP              | GB        |    100000 | PA      | $91561.89     | 0.00%             | 2031-01-29      | Fixed         | 3.95%                 | No            |                  2 | On Loan: No      |
| TRUENOORD CAPITAL DAC                                            | TrueNoord Capital DAC                                                                                                        | CUSIP: 89785GAA6<br>LEI: N/A                  | Long             | DBT              | CORP              | IE        |    150000 | PA      | $159374.85    | 0.01%             | 2030-03-01      | Fixed         | 8.75%                 | No            |                  2 | On Loan: No      |
| Connect Holding II LLC                                           | Connect Holding II LLC Delayed Draw Term Loan                                                                                | CUSIP: 20752KAP8<br>LEI: 254900LCX7S2QHYUOI31 | Long             | LON              | CORP              | US        |    350000 | PA      | $320250.00    | 0.01%             | 2031-04-03      | Floating      | 8.42%                 | No            |                  2 | On Loan: No      |
| SEAGATE DATA STORAGE TECHNOLOG                                   | SEAGATE DATA STOR                                                                                                            | CUSIP: 81180LAQ8<br>LEI: N/A                  | Long             | DBT              | CORP              | SG        |    100000 | PA      | $105865.80    | 0.00%             | 2031-07-15      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| Cedar Funding Ltd                                                | Cedar Funding XV CLO Ltd                                                                                                     | CUSIP: 15032QAA0<br>LEI: 5493002XZZZCKFWQIL45 | Long             | ABS-CBDO         | CORP              | KY        |   4500000 | PA      | $4499982.00   | 0.21%             | 2035-04-20      | Floating      | 5.65%                 | No            |                  2 | On Loan: No      |
| VTR Commercial Mortgage Trust                                    | VTR Commercial Mortgage Trust 2025-STEM                                                                                      | CUSIP: 92890YAE5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    100000 | PA      | $100113.70    | 0.00%             | 2041-10-13      | Variable      | 6.06%                 | No            |                  2 | On Loan: No      |
| Fontainebleau Miami Beach Trust                                  | Fontainebleau Miami Beach Mortgage Trust 2024-FBLU                                                                           | CUSIP: 34461WAN0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    131000 | PA      | $131674.02    | 0.01%             | 2039-12-15      | Floating      | 9.80%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                       | Fannie Mae Pool                                                                                                              | CUSIP: 3140W2JJ1<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    988165 | PA      | $850540.92    | 0.04%             | 2052-02-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| Kaseya Inc                                                       | Kaseya Inc 2025 1st Lien Term Loan B                                                                                         | CUSIP: 48578AAB4<br>LEI: 254900MISXMLRZ63NH46 | Long             | LON              | CORP              | US        |   1268687 | PA      | $1269841.85   | 0.06%             | 2032-03-20      | Floating      | 7.41%                 | No            |                  2 | On Loan: No      |
| MILLICOM INTL CELLULAR                                           | Millicom International Cellular SA                                                                                           | CUSIP: 600814AR8<br>LEI: 549300CTHC1CP86P2G96 | Long             | DBT              | CORP              | LU        |    350000 | PA      | $331237.52    | 0.02%             | 2031-04-27      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| BLACKSTONE PRIVATE CRE                                           | Blackstone Private Credit Fund                                                                                               | CUSIP: 000000000<br>LEI: 549300ORP3TTCNXSYO43 | Long             | DBT              | CORP              | US        |    100000 | PA      | $134298.06    | 0.01%             | 2026-04-14      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF ZAMBIA                                               | Zambia Government International Bond                                                                                         | CUSIP: 988895AR9<br>LEI: 213800DMLAZ6LGMMD849 | Long             | DBT              | NUSS              | ZM        |    200000 | PA      | $134873.60    | 0.01%             | 2053-12-31      | Fixed         | 0.50%                 | No            |                  2 | On Loan: No      |
| DUBAI GOVT INT'L BONDS                                           | Emirate of Dubai Government International Bonds                                                                              | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | NUSS              | AE        |    200000 | PA      | $198362.99    | 0.01%             | 2043-01-30      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| COMM Mortgage Trust                                              | COMM 2015-DC1 Mortgage Trust                                                                                                 | CUSIP: 12629NAL9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    250000 | PA      | $224393.53    | 0.01%             | 2048-02-10      | Variable      | 4.43%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF NIGERIA                                              | Nigeria Government International Bond                                                                                        | CUSIP: 65412JAR4<br>LEI: 549300GSBZD84TNEQ285 | Long             | DBT              | NUSS              | NG        |    400000 | PA      | $392016.86    | 0.02%             | 2028-09-28      | Fixed         | 6.13%                 | No            |                  2 | On Loan: No      |
| GRAPHIC PACKAGING INTERN                                         | Graphic Packaging International LLC                                                                                          | CUSIP: 38869AAD9<br>LEI: SO75N4VY5NXGQSK8YQ65 | Long             | DBT              | CORP              | US        |    100000 | PA      | $93477.70     | 0.00%             | 2030-02-01      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| TRANSNET/SOUTH AFRICA                                            | Transnet/South Africa                                                                                                        | CUSIP: 89378TAD5<br>LEI: 378900B07CD6F01EA796 | Long             | DBT              | CORP              | ZA        |     50000 | PA      | $52741.42     | 0.00%             | 2028-02-06      | Fixed         | 8.25%                 | No            |                  2 | On Loan: No      |
| CROSSCOUNTRY INTER                                               | CrossCountry Intermediate HoldCo LLC                                                                                         | CUSIP: 22757VAA8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    140000 | PA      | $140515.16    | 0.01%             | 2030-10-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| AES CORP/THE                                                     | AES Corp/The                                                                                                                 | CUSIP: 00130HCL7<br>LEI: 2NUNNB7D43COUIRE5295 | Long             | DBT              | CORP              | US        |    145000 | PA      | $142299.39    | 0.01%             | 2055-07-15      | Fixed         | 6.95%                 | No            |                  2 | On Loan: No      |
| BX Trust                                                         | BX Trust 2021-RISE                                                                                                           | CUSIP: 12434EAN0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    116021 | PA      | $116130.19    | 0.01%             | 2036-11-15      | Floating      | 7.21%                 | No            |                  2 | On Loan: No      |
| Turkiye Government International Bonds                           | Turkiye Government International Bonds                                                                                       | CUSIP: 900123DF4<br>LEI: 5493000PCHOG3B6S3Q85 | Long             | DBT              | NUSS              | TR        |    200000 | PA      | $219492.42    | 0.01%             | 2028-01-15      | Fixed         | 9.88%                 | No            |                  2 | On Loan: No      |
| BANCO DE CREDITO DEL PER                                         | Banco de Credito del Peru S.A.                                                                                               | CUSIP: 05971U2H9<br>LEI: 549300EQYQ8SCQZ4BY14 | Long             | DBT              | CORP              | PE        |    100000 | PA      | $101870.00    | 0.00%             | 2035-03-10      | Fixed         | 5.80%                 | No            |                  2 | On Loan: No      |
| PARKLAND CORP                                                    | Parkland Corp                                                                                                                | CUSIP: 70137WAL2<br>LEI: 549300UY5C6HUV0XLS53 | Long             | DBT              | CORP              | CA        |    350000 | PA      | $340291.95    | 0.02%             | 2030-05-01      | Fixed         | 4.63%                 | No            |                  2 | On Loan: No      |
| ZF NA CAPITAL                                                    | ZF North America Capital Inc                                                                                                 | CUSIP: 98877DAH8<br>LEI: 529900JYGMS9CW9IQX78 | Long             | DBT              | CORP              | US        |    125000 | PA      | $124148.93    | 0.01%             | 2031-03-24      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| GS Mortgage Securities Trust                                     | GS Mortgage Securities Corp Trust 2023-SHIP                                                                                  | CUSIP: 36270GAJ0<br>LEI: 5493005BBCF84ICNQ550 | Long             | ABS-MBS          | CORP              | US        |    250000 | PA      | $251278.50    | 0.01%             | 2038-09-10      | Variable      | 7.68%                 | No            |                  2 | On Loan: No      |
| TPC GROUP INC                                                    | TPC Group Inc 2024 Term Loan B                                                                                               | CUSIP: 87266EAG0<br>LEI: 549300K276KVW5JD1583 | Long             | LON              | CORP              | US        |    213838 | PA      | $205551.51    | 0.01%             | 2031-12-16      | Floating      | 9.77%                 | No            |                  2 | On Loan: No      |
| FLYNN RESTAURANT GROUP LP                                        | Flynn Restaurant Group LP 2025 Incremental Term Loan                                                                         | CUSIP: 34410JAG6<br>LEI: 5493008VE8TQONGO3817 | Long             | LON              | CORP              | US        |    497458 | PA      | $497925.73    | 0.02%             | 2032-01-28      | Floating      | 7.91%                 | No            |                  2 | On Loan: No      |
| VENTURE GLOBAL PLAQUE                                            | Venture Global Plaquemines LNG LLC                                                                                           | CUSIP: 922966AC0<br>LEI: 549300TKP4I6OJ02BF90 | Long             | DBT              | CORP              | US        |    265000 | PA      | $278954.21    | 0.01%             | 2034-01-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| NRG ENERGY INC                                                   | NRG Energy Inc                                                                                                               | CUSIP: 629377CX8<br>LEI: 5E2UPK5SW04M13XY7I38 | Long             | DBT              | CORP              | US        |    250000 | PA      | $256272.75    | 0.01%             | 2034-11-01      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| Merit                                                            | MHP Commercial Mortgage Trust 2025-MHIL2                                                                                     | CUSIP: 59317DAG0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    100000 | PA      | $100062.47    | 0.00%             | 2040-09-15      | Floating      | 6.80%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                       | Fannie Mae Pool                                                                                                              | CUSIP: 3140K0SW9<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   8423086 | PA      | $7541010.12   | 0.35%             | 2049-12-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| ALLY FINANCIAL INC                                               | Ally Financial Inc                                                                                                           | CUSIP: 02005NBS8<br>LEI: 549300JBN1OSM8YNAI90 | Long             | DBT              | CORP              | US        |    350000 | PA      | $364573.67    | 0.02%             | 2033-02-14      | Fixed         | 6.70%                 | No            |                  2 | On Loan: No      |
| Credit Suisse Mortgage Trust                                     | CSMC 2021-RPL7 Trust                                                                                                         | CUSIP: 12598JAC5<br>LEI: 549300818AKCJ4Q9TD76 | Long             | ABS-MBS          | CORP              | US        |   1897286 | PA      | $1899239.48   | 0.09%             | 2061-07-27      | Variable      | 4.21%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF ECUADOR                                              | Ecuador Government International Bond                                                                                        | CUSIP: 000000000<br>LEI: 5299003Y2U5XK0A35H71 | Long             | DBT              | NUSS              | EC        |    250000 | PA      | $225625.00    | 0.01%             | 2030-07-31      | Fixed         | 6.90%                 | No            |                  2 | On Loan: No      |
| ROCKET COS INC                                                   | Rocket Cos Inc                                                                                                               | CUSIP: 77311WAB7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    245000 | PA      | $252867.93    | 0.01%             | 2033-08-01      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| ENERGY TRANSFER LP                                               | Energy Transfer LP                                                                                                           | CUSIP: 29273VBG4<br>LEI: MTLVN9N7JE8MIBIJ1H73 | Long             | DBT              | CORP              | US        |     14000 | PA      | $13934.38     | 0.00%             | 2056-02-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| BRASKEM IDESA SAPI                                               | Braskem Idesa SAPI                                                                                                           | CUSIP: 10554NAA6<br>LEI: YH0V7ZHY352ITDGEYB83 | Long             | DBT              | CORP              | MX        |    150000 | PA      | $91207.22     | 0.00%             | 2029-11-15      | Fixed         | 7.45%                 | No            |                  2 | On Loan: No      |
| HUNGARY                                                          | Hungary Government International Bond                                                                                        | CUSIP: 445545AT3<br>LEI: 5299003F3UFKGCCMAP43 | Long             | DBT              | NUSS              | HU        |    100000 | PA      | $108072.80    | 0.00%             | 2052-09-25      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| OWENS & MINOR INC                                                | Owens & Minor Inc                                                                                                            | CUSIP: 690732AG7<br>LEI: 549300LMT5KQQXCEZ733 | Long             | DBT              | CORP              | US        |     90000 | PA      | $74250.00     | 0.00%             | 2030-04-01      | Fixed         | 6.63%                 | No            |                  2 | On Loan: No      |
| Open Text Corporation                                            | Open Text Corporation 2023 Term Loan B                                                                                       | CUSIP: 68371YAP8<br>LEI: 549300HP7ONDQODZJV16 | Long             | LON              | CORP              | CA        |    495916 | PA      | $495261.01    | 0.02%             | 2030-01-31      | Floating      | 5.91%                 | No            |                  2 | On Loan: No      |
| FTAI AVIATION INVESTORS                                          | FTAI Aviation Investors LLC                                                                                                  | CUSIP: 34960PAG6<br>LEI: 529900E7PUVK6BC8PE80 | Long             | DBT              | CORP              | US        |    100000 | PA      | $104652.20    | 0.00%             | 2032-06-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| BANK OF AMERICA CORP                                             | Bank of America Corp                                                                                                         | CUSIP: 06051GMT3<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |   4239000 | PA      | $4291517.44   | 0.20%             | 2029-05-09      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| UMBS, TBA                                                        | Uniform Mortgage-Backed Security, TBA                                                                                        | CUSIP: 01F0406A0<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |   3000000 | PA      | $2827087.38   | 0.13%             | 2055-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| EUROPEAN INVESTMENT BANK                                         | European Investment Bank                                                                                                     | CUSIP: 000000000<br>LEI: 5493006YXS1U5GIHE750 | Long             | DBT              | NUSS              | XX        |    210000 | PA      | $245685.12    | 0.01%             | 2030-05-15      | Fixed         | 2.38%                 | No            |                  2 | On Loan: No      |
| OFFICE CHERIFIEN DES PHO                                         | OCP SA                                                                                                                       | CUSIP: 67091TAE5<br>LEI: 213800D26TAPVTCVWG40 | Long             | DBT              | CORP              | MA        |    100000 | PA      | $83500.00     | 0.00%             | 2051-06-23      | Fixed         | 5.13%                 | No            |                  2 | On Loan: No      |
| ADVANCION SCIENCES INC                                           | Advancion Sciences Inc                                                                                                       | CUSIP: 499894AA1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     10000 | PA      | $8850.00      | 0.00%             | 2026-11-01      | Fixed         | 9.25%                 | No            |                  2 | On Loan: No      |
| Madison Park Funding Ltd                                         | Madison Park Funding LXVII Ltd                                                                                               | CUSIP: 55821YAA4<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   4000000 | PA      | $4014048.00   | 0.18%             | 2037-04-25      | Floating      | 5.83%                 | No            |                  2 | On Loan: No      |
| Argentina Republic Government International Bonds                | Argentina Republic Government International Bonds                                                                            | CUSIP: 040114HT0<br>LEI: 549300KPBYGYF7HCHO27 | Long             | DBT              | NUSS              | AR        |    871767 | PA      | $452882.96    | 0.02%             | 2035-07-09      | Variable      | 4.13%                 | No            |                  2 | On Loan: No      |
| Eaton Vance CDO Ltd                                              | Eaton Vance CLO 2020-1 Ltd                                                                                                   | CUSIP: 278300AS7<br>LEI: 5493004NKU3QU5G6QW39 | Long             | ABS-CBDO         | CORP              | KY        |    411000 | PA      | $411972.84    | 0.02%             | 2037-10-15      | Floating      | 5.71%                 | No            |                  2 | On Loan: No      |
| Eaton Vance CDO Ltd                                              | Eaton Vance CLO 2020-2 Ltd                                                                                                   | CUSIP: 27829PAU0<br>LEI: 549300FU3GAH1NNHOO94 | Long             | ABS-CBDO         | CORP              | KY        |   2750000 | PA      | $2756110.50   | 0.13%             | 2037-10-15      | Floating      | 5.70%                 | No            |                  2 | On Loan: No      |
| Avis Budget Rental Car Funding AESOP LLC                         | Avis Budget Rental Car Funding AESOP LLC                                                                                     | CUSIP: 05377RKL7<br>LEI: IHXLB8SL0QWSSG2VG640 | Long             | ABS-O            | CORP              | US        |    445000 | PA      | $450750.69    | 0.02%             | 2029-08-20      | Fixed         | 4.80%                 | No            |                  2 | On Loan: No      |
| AP Core Holdings II LLC                                          | AP Core Holdings II LLC High-Yield Term Loan B2                                                                              | CUSIP: 00187GAD1<br>LEI: 549300PND8ZZ4RWYRZ56 | Long             | LON              | CORP              | US        |    750000 | PA      | $728437.50    | 0.03%             | 2027-09-01      | Floating      | 9.78%                 | No            |                  2 | On Loan: No      |
| ACRISURE LLC / FIN INC                                           | Acrisure LLC / Acrisure Finance Inc                                                                                          | CUSIP: 00489LAM5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    100000 | PA      | $104985.40    | 0.00%             | 2029-06-15      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| Dell Equipment Finance Trust                                     | Dell Equipment Finance Trust 2023-3                                                                                          | CUSIP: 24702EAC4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1742080 | PA      | $1753591.80   | 0.08%             | 2029-04-23      | Fixed         | 5.93%                 | No            |                  2 | On Loan: No      |
| CHG HEALTHCARE SERVICES INC                                      | CHG Healthcare Services Inc 2025 Term Loan B1                                                                                | CUSIP: 12541HAX1<br>LEI: 54930016Y1HPAVB9PZ54 | Long             | LON              | CORP              | US        |    248748 | PA      | $248735.99    | 0.01%             | 2028-09-29      | Floating      | 7.05%                 | No            |                  2 | On Loan: No      |
| NEW FORTRESS ENERGY INC                                          | New Fortress Energy Inc                                                                                                      | CUSIP: 644393AB6<br>LEI: 254900EICTYTCHA5X705 | Long             | DBT              | CORP              | US        |     70000 | PA      | $17587.50     | 0.00%             | 2026-09-30      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| CART                                                             | CONE Trust 2024-DFW1                                                                                                         | CUSIP: 20682AAN0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    377000 | PA      | $377484.37    | 0.02%             | 2041-08-15      | Floating      | 8.04%                 | No            |                  2 | On Loan: No      |
| UKG Inc                                                          | UKG Inc 2024 Term Loan B                                                                                                     | CUSIP: 89841EAB1<br>LEI: 529900FKHWSTQ1GXK240 | Long             | LON              | CORP              | US        |   1246851 | PA      | $1245242.95   | 0.06%             | 2031-02-10      | Floating      | 6.81%                 | No            |                  2 | On Loan: No      |
| UNITED RENTALS NORTH AM                                          | United Rentals North America Inc                                                                                             | CUSIP: 911365BR4<br>LEI: NGIZXNT70J2LYT3FBI09 | Long             | DBT              | CORP              | US        |    250000 | PA      | $259955.75    | 0.01%             | 2034-03-15      | Fixed         | 6.13%                 | No            |                  2 | On Loan: No      |
| JPMORGAN CHASE & CO                                              | JPMorgan Chase & Co                                                                                                          | CUSIP: 46647PEV4<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | DBT              | CORP              | US        |   1805000 | PA      | $1864079.17   | 0.09%             | 2031-01-24      | Fixed         | 5.14%                 | No            |                  2 | On Loan: No      |
| SUBWAY FUNDING LLC                                               | Subway Funding LLC                                                                                                           | CUSIP: 864300AL2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   4962500 | PA      | $4942877.28   | 0.23%             | 2054-07-30      | Fixed         | 5.91%                 | No            |                  2 | On Loan: No      |
| Proofpoint, Inc.                                                 | Proofpoint Inc 2024 Term Loan                                                                                                | CUSIP: 74345HAG6<br>LEI: 529900C5FODDK0WSR085 | Long             | LON              | CORP              | US        |    746212 | PA      | $748159.73    | 0.03%             | 2028-08-31      | Floating      | 7.16%                 | No            |                  2 | On Loan: No      |
| UKG INC                                                          | UKG Inc                                                                                                                      | CUSIP: 90279XAA0<br>LEI: 529900FKHWSTQ1GXK240 | Long             | DBT              | CORP              | US        |    125000 | PA      | $128979.38    | 0.01%             | 2031-02-01      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| GLOBAL MEDICAL RESPONSE                                          | Global Medical Response Inc                                                                                                  | CUSIP: 37960BAD7<br>LEI: 549300ZFWD4ZFCEJCQ87 | Long             | DBT              | CORP              | US        |    140000 | PA      | $144103.40    | 0.01%             | 2032-10-01      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| ACADIA HEALTHCARE CO INC                                         | Acadia Healthcare Co Inc                                                                                                     | CUSIP: 00404AAQ2<br>LEI: 5493005CW985Y9D0NC11 | Long             | DBT              | CORP              | US        |    100000 | PA      | $103818.90    | 0.00%             | 2033-03-15      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| Sixth Street CLO LTD.                                            | Sixth Street CLO XIX Ltd                                                                                                     | CUSIP: 83012KAL1<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    810000 | PA      | $812058.21    | 0.04%             | 2038-07-17      | Floating      | 5.56%                 | No            |                  2 | On Loan: No      |
| SAMARCO MINERACAO SA                                             | Samarco Mineracao SA                                                                                                         | CUSIP: 79588YAA7<br>LEI: 529900U8HKV15GJC4O60 | Long             | DBT              | CORP              | BR        |    566665 | PA      | $569605.99    | 0.03%             | 2031-06-30      | Fixed         | 9.50%                 | No            |                  2 | On Loan: No      |
| JH NORTH AMERICA HOLDING                                         | JH North America Holdings Inc                                                                                                | CUSIP: 46593WAB1<br>LEI: 254900A6FXA0D81TL967 | Long             | DBT              | CORP              | US        |     35000 | PA      | $35849.59     | 0.00%             | 2032-07-31      | Fixed         | 6.13%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                       | Fannie Mae Pool                                                                                                              | CUSIP: 3140QMH80<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     30914 | PA      | $25344.70     | 0.00%             | 2051-11-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| United States Treasury                                           | U.S. Treasury Notes                                                                                                          | CUSIP: 91282CNF4<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   2534000 | PA      | $2566070.94   | 0.12%             | 2032-05-31      | Fixed         | 4.13%                 | No            |                  2 | On Loan: No      |
| OCP CLO Ltd                                                      | OCP CLO 2025-44 Ltd                                                                                                          | CUSIP: 67570UAA0<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   1317000 | PA      | $1319378.50   | 0.06%             | 2038-10-24      | Floating      | 5.56%                 | No            |                  2 | On Loan: No      |
| MED PARENTCO LP                                                  | MED ParentCo LP 2025 Term Loan B                                                                                             | CUSIP: 58401DAN4<br>LEI: 549300660CLPRNK19Z91 | Long             | LON              | CORP              | US        |    164588 | PA      | $164814.63    | 0.01%             | 2031-04-15      | Floating      | 7.41%                 | No            |                  2 | On Loan: No      |
| ORACLE CORP                                                      | Oracle Corp                                                                                                                  | CUSIP: 68389XDK8<br>LEI: 1Z4GXXU7ZHVWFCD8TV52 | Long             | DBT              | CORP              | US        |   1115000 | PA      | $1116340.75   | 0.05%             | 2032-09-26      | Fixed         | 4.80%                 | No            |                  2 | On Loan: No      |
| SOLSTICE ADVANCED MTRIALS INC                                    | SOLSTICE ADVANCED MTRIALS INC TERM LOAN B                                                                                    | CUSIP: 000000000<br>LEI: 2138004GZ4H9TW6HK435 | Long             | LON              | CORP              | US        |    115000 | PA      | $115072.45    | 0.01%             | 2032-09-17      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| UMBS, TBA                                                        | Uniform Mortgage-Backed Security, TBA                                                                                        | CUSIP: 01F0306A1<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |   3200000 | PA      | $2810243.74   | 0.13%             | 2055-10-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| RCKT Trust                                                       | RCKT Trust 2025-PL1                                                                                                          | CUSIP: 74939RAA9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    330601 | PA      | $331353.25    | 0.02%             | 2034-07-25      | Fixed         | 4.90%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                       | Fannie Mae Pool                                                                                                              | CUSIP: 3140QNEL2<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     33419 | PA      | $27395.10     | 0.00%             | 2052-02-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| SCG Hotel Issuer Inc                                             | SCG Trust 2025-SNIP                                                                                                          | CUSIP: 78398JAG9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    127000 | PA      | $127277.65    | 0.01%             | 2030-09-15      | Floating      | 6.85%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                         | Ginnie Mae                                                                                                                   | CUSIP: 21H0606B2<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   2850000 | PA      | $2898266.00   | 0.13%             | 2054-11-20      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Dominican Republic                                               | Dominican Republic International Bond                                                                                        | CUSIP: 25714PDT2<br>LEI: 254900EHU7Q8FGVPI369 | Long             | DBT              | NUSS              | DO        |    250000 | PA      | $254062.50    | 0.01%             | 2027-01-25      | Fixed         | 5.95%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF GHANA                                                | Ghana Government International Bond                                                                                          | CUSIP: 374422AM5<br>LEI: 213800PP4399SNNXZ126 | Long             | DBT              | NUSS              | GH        |     61952 | PA      | $60236.79     | 0.00%             | 2029-07-03      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| VISTAJET MALTA/VM HOLDS                                          | VistaJet Malta Finance PLC / Vista Management Holding Inc                                                                    | CUSIP: 92840JAB5<br>LEI: N/A                  | Long             | DBT              | CORP              | XX        |    480000 | PA      | $467845.68    | 0.02%             | 2030-02-01      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| ORACLE CORP                                                      | Oracle Corp                                                                                                                  | CUSIP: 68389XDR3<br>LEI: 1Z4GXXU7ZHVWFCD8TV52 | Long             | DBT              | CORP              | US        |    785000 | PA      | $782585.19    | 0.04%             | 2055-09-26      | Fixed         | 5.95%                 | No            |                  2 | On Loan: No      |
| IQVIA INC                                                        | IQVIA Inc                                                                                                                    | CUSIP: 46266TAD0<br>LEI: 549300PLWY28YB00C717 | Long             | DBT              | CORP              | US        |    100000 | PA      | $103348.80    | 0.00%             | 2030-05-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                       | Fannie Mae Pool                                                                                                              | CUSIP: 3140QGPL5<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   3288745 | PA      | $2799443.59   | 0.13%             | 2051-01-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| AMKOR TECHNOLOGY INC                                             | Amkor Technology Inc                                                                                                         | CUSIP: 031652BL3<br>LEI: 529900VHLRTKPWZJBM84 | Long             | DBT              | CORP              | US        |    100000 | PA      | $101018.34    | 0.00%             | 2033-10-01      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| Univision Communications Inc                                     | Univision Communications Inc 2022 First Lien Term Loan B                                                                     | CUSIP: 914908BD9<br>LEI: 549300YQDE2JSGTL8V47 | Long             | LON              | CORP              | US        |    746144 | PA      | $745755.97    | 0.03%             | 2029-06-24      | Floating      | 8.25%                 | No            |                  2 | On Loan: No      |
| CHS/COMMUNITY HEALTH SYS                                         | CHS/Community Health Systems Inc                                                                                             | CUSIP: 12543DBQ2<br>LEI: 5493007X5NC5XI1BB106 | Long             | DBT              | CORP              | US        |    135000 | PA      | $138307.50    | 0.01%             | 2034-01-15      | Fixed         | 9.75%                 | No            |                  2 | On Loan: No      |
| Citibank NA                                                      | LJT040000 SWAPTION                                                                                                           | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DIR              |  | US        |   3000000 | NC      | $76895.46     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| ABU DHABI NATIONAL ENERG                                         | Abu Dhabi National Energy Co PJSC                                                                                            | CUSIP: 00388WAH4<br>LEI: 213800UNJSVQFNUYYW03 | Long             | DBT              | CORP              | AE        |    100000 | PA      | $80650.18     | 0.00%             | 2049-10-03      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Altice Financing SA                                              | Altice Financing SA 2022 USD Term Loan                                                                                       | CUSIP: 000000000<br>LEI: 549300DIYGW8HVDF7Q17 | Long             | LON              | CORP              | LU        |     10000 | PA      | $8375.00      | 0.00%             | 2027-10-31      | Floating      | 9.32%                 | No            |                  2 | On Loan: No      |
| BX Trust                                                         | BX Trust 2025-ROIC                                                                                                           | CUSIP: 05593VAA1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   3693594 | PA      | $3685509.88   | 0.17%             | 2030-03-15      | Floating      | 5.29%                 | No            |                  2 | On Loan: No      |
| KODIAK GAS SERVICES LLC                                          | Kodiak Gas Services LLC                                                                                                      | CUSIP: 50012LAE4<br>LEI: 549300ZQBRWEUOVOM131 | Long             | DBT              | CORP              | US        |    110000 | PA      | $112943.19    | 0.01%             | 2035-10-01      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| BX Trust                                                         | BX Trust 2025-LUNR                                                                                                           | CUSIP: 05594CAN4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     95558 | PA      | $95558.18     | 0.00%             | 2040-06-15      | Floating      | 8.10%                 | No            |                  2 | On Loan: No      |
| PRM5 Trust                                                       | PRM5 Trust 2025-PRM5                                                                                                         | CUSIP: 693980AG9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    150000 | PA      | $149374.41    | 0.01%             | 2033-03-10      | Variable      | 5.81%                 | No            |                  2 | On Loan: No      |
| MITER BRAND / MIWD BORR                                          | Miter Brands Acquisition Holdco Inc / MIWD Borrower LLC                                                                      | CUSIP: 60672JAA7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    100000 | PA      | $102725.30    | 0.00%             | 2032-04-01      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| Turkiye Government International Bonds                           | Turkiye Government International Bonds                                                                                       | CUSIP: 900123DG2<br>LEI: 5493000PCHOG3B6S3Q85 | Long             | DBT              | NUSS              | TR        |    400000 | PA      | $463295.50    | 0.02%             | 2033-01-19      | Fixed         | 9.38%                 | No            |                  2 | On Loan: No      |
| Grupo Aeromexico SAB de CV                                       | Grupo Aeromexico SAB de CV                                                                                                   | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | MX        |     74288 | NS      | $1191585.44   | 0.05%             |  |  |  | No            |                  2 | On Loan: No      |
| ROGERS COMMUNICATIONS IN                                         | Rogers Communications Inc                                                                                                    | CUSIP: 775109DG3<br>LEI: 5493000M6Z4XFIP6PF03 | Long             | DBT              | CORP              | CA        |    100000 | PA      | $104250.10    | 0.00%             | 2055-04-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                      | Freddie Mac Gold Pool                                                                                                        | CUSIP: 31335B5H5<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   2138740 | PA      | $2001930.92   | 0.09%             | 2048-11-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| QNITY ELECTRONICS INC                                            | QNITY ELECTRONICS INC TERM LOAN B                                                                                            | CUSIP: 74737SAB9<br>LEI: 254900RSUG4J9TFFZX53 | Long             | LON              | CORP              | US        |    260000 | PA      | $259675.00    | 0.01%             | 2032-08-12      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| ONEMAIN FINANCE CORP                                             | OneMain Finance Corp                                                                                                         | CUSIP: 682691AK6<br>LEI: 5493008I795YYBFWFU90 | Long             | DBT              | CORP              | US        |    130000 | PA      | $134294.91    | 0.01%             | 2032-09-15      | Fixed         | 7.13%                 | No            |                  2 | On Loan: No      |
| BOEING CO                                                        | Boeing Co/The                                                                                                                | CUSIP: 097023DG7<br>LEI: RVHJWBXLJ1RFUBSY1F30 | Long             | DBT              | CORP              | US        |   4675000 | PA      | $4639593.19   | 0.21%             | 2026-02-04      | Fixed         | 2.20%                 | No            |                  2 | On Loan: No      |
| UNIVISION COMMUNICATIONS                                         | Univision Communications Inc                                                                                                 | CUSIP: 914906AZ5<br>LEI: 549300YQDE2JSGTL8V47 | Long             | DBT              | CORP              | US        |    475000 | PA      | $490504.95    | 0.02%             | 2031-07-31      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| STONEMOR INC                                                     | StoneMor Inc                                                                                                                 | CUSIP: 86184WAA4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    325000 | PA      | $317649.93    | 0.01%             | 2029-05-15      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| TEVA PHARMACEUTICALS NE                                          | Teva Pharmaceutical Finance Netherlands III BV                                                                               | CUSIP: 88167AAE1<br>LEI: 5493004T21MOAFINJP35 | Long             | DBT              | CORP              | NL        |     59000 | PA      | $57951.13     | 0.00%             | 2026-10-01      | Fixed         | 3.15%                 | No            |                  2 | On Loan: No      |
| WARNERMEDIA HOLDINGS INC                                         | Warnermedia Holdings Inc                                                                                                     | CUSIP: 55903VBW2<br>LEI: 549300DXR29GD4N0A520 | Long             | DBT              | CORP              | US        |    135000 | PA      | $107773.20    | 0.00%             | 2042-03-15      | Fixed         | 5.05%                 | No            |                  2 | On Loan: No      |
| STATE OF QATAR                                                   | Qatar Government International Bond                                                                                          | CUSIP: 74727PBE0<br>LEI: 52990074F6OJOAXK4P65 | Long             | DBT              | NUSS              | QA        |    300000 | PA      | $268128.37    | 0.01%             | 2050-04-16      | Fixed         | 4.40%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                       | Fannie Mae Pool                                                                                                              | CUSIP: 3140XB5S5<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   6059452 | PA      | $5405494.04   | 0.25%             | 2051-07-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| KFW                                                              | Kreditanstalt fuer Wiederaufbau                                                                                              | CUSIP: 000000000<br>LEI: 549300GDPG70E3MBBU98 | Long             | DBT              | CORP              | DE        |     55000 | PA      | $59437.99     | 0.00%             | 2032-06-07      | Fixed         | 1.38%                 | No            |                  2 | On Loan: No      |
| GILDAN ACTIVEWEAR INC                                            | Gildan Activewear Inc                                                                                                        | CUSIP: 375916AF0<br>LEI: 549300SB3IBI34M00Z45 | Long             | DBT              | CORP              | CA        |    153000 | PA      | $152769.14    | 0.01%             | 2030-10-07      | Fixed         | 4.70%                 | No            |                  2 | On Loan: No      |
| TERMOCANDELARIA POWER                                            | Termocandelaria Power SA                                                                                                     | CUSIP: 88087AAA6<br>LEI: 549300YDORW43JL6G659 | Long             | DBT              | CORP              | ES        |    250000 | PA      | $262418.11    | 0.01%             | 2031-09-17      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| NABORS INDUSTRIES INC                                            | Nabors Industries Inc                                                                                                        | CUSIP: 62957HAQ8<br>LEI: 549300VFQWRKICUFNU92 | Long             | DBT              | CORP              | US        |    150000 | PA      | $139696.49    | 0.01%             | 2031-08-15      | Fixed         | 8.88%                 | No            |                  2 | On Loan: No      |
| COMSTOCK RESOURCES INC                                           | Comstock Resources Inc                                                                                                       | CUSIP: 205768AT1<br>LEI: I03QQGEA4SS774AURI46 | Long             | DBT              | CORP              | US        |    250000 | PA      | $240763.85    | 0.01%             | 2030-01-15      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| ONEMAIN FINANCE CORP                                             | OneMain Finance Corp                                                                                                         | CUSIP: 682691AH3<br>LEI: 5493008I795YYBFWFU90 | Long             | DBT              | CORP              | US        |    250000 | PA      | $256967.75    | 0.01%             | 2029-05-15      | Fixed         | 6.63%                 | No            |                  2 | On Loan: No      |
| TEAM HEALTH HOLDINGS INC                                         | Team Health Holdings Inc                                                                                                     | CUSIP: 87817AAE7<br>LEI: 549300PVTQ4UDTTMQT11 | Long             | DBT              | CORP              | US        |    120000 | PA      | $122580.00    | 0.01%             | 2028-06-30      | Fixed         | 8.38%                 | No            |                  2 | On Loan: No      |
| NGG FINANCE PLC                                                  | NGG Finance PLC                                                                                                              | CUSIP: 000000000<br>LEI: 549300MLDJ2T68G21W86 | Long             | DBT              | CORP              | GB        |    181000 | PA      | $208315.37    | 0.01%             | 2082-09-05      | Fixed         | 2.13%                 | No            |                  2 | On Loan: No      |
| Crown Subsea Communications Holding,Inc.                         | Crown Subsea Communications HoldingInc 2025 Term Loan B                                                                      | CUSIP: 22860EAK8<br>LEI: 5493003AYLUE132FIO27 | Long             | LON              | CORP              | US        |    124685 | PA      | $125339.74    | 0.01%             | 2031-01-30      | Floating      | 7.66%                 | No            |                  2 | On Loan: No      |
| ENTEGRIS INC                                                     | Entegris Inc                                                                                                                 | CUSIP: 29365BAA1<br>LEI: IYX6OWO7BT5DKO3BYG52 | Long             | DBT              | CORP              | US        |    400000 | PA      | $396569.08    | 0.02%             | 2029-04-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| PETRONAS CAPITAL LTD                                             | Petronas Capital Ltd                                                                                                         | CUSIP: 71675CAE8<br>LEI: 549300G7YFX3540OYR85 | Long             | DBT              | CORP              | MY        |    100000 | PA      | $68962.26     | 0.00%             | 2061-04-28      | Fixed         | 3.40%                 | No            |                  2 | On Loan: No      |
| NCL CORPORATION LTD                                              | NCL Corp Ltd                                                                                                                 | CUSIP: 62886HBY6<br>LEI: UNZWILHE4KMRP9K2L524 | Long             | DBT              | CORP              | BM        |    275000 | PA      | $274989.70    | 0.01%             | 2031-01-15      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| AEROPUERTOS DOMINICANOS                                          | Aeropuertos Dominicanos Siglo XXI SA                                                                                         | CUSIP: 007866AE6<br>LEI: 254900KJA5MXNPYB4W32 | Long             | DBT              | CORP              | DO        |    200000 | PA      | $210000.00    | 0.01%             | 2034-06-30      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| EMPRESA NACIONAL DEL PET                                         | Empresa Nacional del Petroleo                                                                                                | CUSIP: 29245JAP7<br>LEI: 549300YP3P0JZBLIV197 | Long             | DBT              | CORP              | CL        |    200000 | PA      | $210638.80    | 0.01%             | 2034-07-30      | Fixed         | 5.95%                 | No            |                  2 | On Loan: No      |
| PRAIRIE ACQUIROR LP                                              | Prairie Acquiror LP                                                                                                          | CUSIP: 73943NAA4<br>LEI: 254900Q6KU2LVSIISH22 | Long             | DBT              | CORP              | US        |    130000 | PA      | $135343.60    | 0.01%             | 2029-08-01      | Fixed         | 9.00%                 | No            |                  2 | On Loan: No      |
| VENTUR GLBL PLQUM LNG LLC VGPL                                   | Venture Global Plaquemines LNG LLC (VGPL) 2024 Contingency Reserve Delayed Draw Term Loan                                    | CUSIP: 000000000<br>LEI: 549300TKP4I6OJ02BF90 | Long             | LON              | CORP              | US        |     46139 | PA      | $46138.68     | 0.00%             | 2029-05-25      | Floating      | 6.39%                 | No            |                  2 | On Loan: No      |
| AECOM                                                            | AECOM                                                                                                                        | CUSIP: 00766TAE0<br>LEI: 0EEB8GF0W0NPCIHZX097 | Long             | DBT              | CORP              | US        |    270000 | PA      | $276045.30    | 0.01%             | 2033-08-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| UBS GROUP AG                                                     | UBS Group AG                                                                                                                 | CUSIP: 000000000<br>LEI: 549300SZJ9VS8SGXAN81 | Long             | DBT              | CORP              | CH        |    300000 | PA      | $335352.04    | 0.02%             | 2028-11-05      | Fixed         | 0.25%                 | No            |                  2 | On Loan: No      |
| P3 GROUP SARL                                                    | P3 Group Sarl                                                                                                                | CUSIP: 000000000<br>LEI: 529900GR62MT0O5VW110 | Long             | DBT              | CORP              | LU        |    100000 | PA      | $116865.05    | 0.01%             | 2033-04-02      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| UMBS, TBA                                                        | Uniform Mortgage-Backed Security, TBA                                                                                        | CUSIP: 01F0326A7<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |    300000 | PA      | $274056.36    | 0.01%             | 2055-10-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Argentina Republic Government International Bonds                | Argentina Republic Government International Bonds                                                                            | CUSIP: 040114HS2<br>LEI: 549300KPBYGYF7HCHO27 | Long             | DBT              | NUSS              | AR        |    851326 | PA      | $571665.68    | 0.03%             | 2030-07-09      | Variable      | 0.75%                 | No            |                  2 | On Loan: No      |
| ECHOSTAR CORP                                                    | EchoStar Corp                                                                                                                | CUSIP: 278768AB2<br>LEI: 549300EE20907QZ9GT38 | Long             | DBT              | CORP              | US        |    507568 | PA      | $1248617.28   | 0.06%             | 2030-11-30      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| Eagle Parent Corp                                                | Eagle Parent Corp 2022 Term Loan B                                                                                           | CUSIP: 26972CAC6<br>LEI: 5493007MVERDD2NKNE42 | Long             | LON              | CORP              | US        |    746134 | PA      | $744619.36    | 0.03%             | 2029-04-02      | Floating      | 8.25%                 | No            |                  2 | On Loan: No      |
| SMRT                                                             | SMRT 2022-MINI                                                                                                               | CUSIP: 78457JAL6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    250000 | PA      | $249066.15    | 0.01%             | 2039-01-15      | Floating      | 6.10%                 | No            |                  2 | On Loan: No      |
| LBM ACQUISITION LLC                                              | LBM Acquisition LLC 2024 Incremental Term Loan B                                                                             | CUSIP: 50179JAH1<br>LEI: 549300FAEB3VWZL4NI86 | Long             | LON              | CORP              | US        |    298489 | PA      | $290787.65    | 0.01%             | 2031-06-06      | Floating      | 7.99%                 | No            |                  2 | On Loan: No      |
| BAKELITE US HOLDCO INC                                           | Bakelite US Holdco Inc 2024 Term Loan B                                                                                      | CUSIP: 05710LAD5<br>LEI: 549300UCYL2XSFT5Y041 | Long             | LON              | CORP              | US        |    498747 | PA      | $497250.63    | 0.02%             | 2031-12-23      | Floating      | 7.75%                 | No            |                  2 | On Loan: No      |
| PATRICK INDUSTRIES INC                                           | Patrick Industries Inc                                                                                                       | CUSIP: 703343AH6<br>LEI: 549300FZ5ZTCCJ3Z5W14 | Long             | DBT              | CORP              | US        |    100000 | PA      | $101460.80    | 0.00%             | 2032-11-01      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| OLYMPUS WTR US HLDG CORP                                         | Olympus Water US Holding Corp                                                                                                | CUSIP: 681639AE0<br>LEI: 549300YU2GGVCBN3MY89 | Long             | DBT              | CORP              | US        |    345000 | PA      | $345359.33    | 0.02%             | 2033-02-15      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| TENET HEALTHCARE CORP                                            | Tenet Healthcare Corp                                                                                                        | CUSIP: 88033GDQ0<br>LEI: 0W9AIBT6U6ADJ2I8HK17 | Long             | DBT              | CORP              | US        |    270000 | PA      | $273444.35    | 0.01%             | 2030-06-15      | Fixed         | 6.13%                 | No            |                  2 | On Loan: No      |
| PEDIATRIX MEDICAL GROUP                                          | Pediatrix Medical Group Inc                                                                                                  | CUSIP: 58502BAE6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    150000 | PA      | $148982.72    | 0.01%             | 2030-02-15      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| JPMorgan Chase Bank NA                                           | PURCHASED EUR / SOLD USD                                                                                                     | CUSIP: 000000000<br>LEI: 7H6GLXDRUGQFU57RNE97 | N/A              | DFE              |  | XX        |         1 | NC      | $235.60       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| United States Treasury                                           | U.S. Treasury Notes                                                                                                          | CUSIP: 91282CNT4<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  30500000 | PA      | $30747812.50  | 1.41%             | 2035-08-15      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| ARES CLO Ltd                                                     | Ares XXXIV CLO Ltd                                                                                                           | CUSIP: 04015GBB4<br>LEI: 549300VDFIIXSFET0S73 | Long             | ABS-CBDO         | CORP              | KY        |   1870000 | PA      | $1877298.61   | 0.09%             | 2038-07-17      | Floating      | 5.53%                 | No            |                  2 | On Loan: No      |
| UBS GROUP AG                                                     | UBS Group AG                                                                                                                 | CUSIP: 225401AP3<br>LEI: 549300SZJ9VS8SGXAN81 | Long             | DBT              | CORP              | CH        |   6590000 | PA      | $6515163.76   | 0.30%             | 2031-04-01      | Fixed         | 4.19%                 | No            |                  2 | On Loan: No      |
| CLARIOS GLOBAL LP/US FIN                                         | Clarios Global LP / Clarios US Finance Co                                                                                    | CUSIP: 18060TAD7<br>LEI: N/A                  | Long             | DBT              | CORP              | XX        |    120000 | PA      | $123961.20    | 0.01%             | 2030-02-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| Aimco                                                            | AIMCO CLO 10 Ltd                                                                                                             | CUSIP: 00901AAS6<br>LEI: 5493004I93856WYBB035 | Long             | ABS-CBDO         | CORP              | KY        |  10000000 | PA      | $10045850.00  | 0.46%             | 2037-07-22      | Floating      | 5.74%                 | No            |                  2 | On Loan: No      |
| Petroleos Mexicanos                                              | Petroleos Mexicanos                                                                                                          | CUSIP: 71654QDP4<br>LEI: 549300CAZKPF4HKMPX17 | Long             | DBT              | CORP              | MX        |    200000 | PA      | $232100.00    | 0.01%             | 2033-02-07      | Fixed         | 10.00%                | No            |                  2 | On Loan: No      |
| Fannie Mae                                                       | Fannie Mae Pool                                                                                                              | CUSIP: 3140Y6UB4<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   1078671 | PA      | $1122671.69   | 0.05%             | 2055-06-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| CELSIUS HOLDINGS INC                                             | Celsius Holdings Inc Term Loan                                                                                               | CUSIP: 15118XAB0<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    249375 | PA      | $249609.41    | 0.01%             | 2032-04-01      | Floating      | 7.29%                 | No            |                  2 | On Loan: No      |
| Chemours Company (The)                                           | Chemours Company (The) 2023 USD Term Loan B                                                                                  | CUSIP: 16384YAJ6<br>LEI: 549300M1BOLNXL8DOV14 | Long             | LON              | CORP              | US        |    278579 | PA      | $277882.23    | 0.01%             | 2028-08-18      | Floating      | 7.16%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                       | Fannie Mae Pool                                                                                                              | CUSIP: 31418D3N0<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    331196 | PA      | $312281.45    | 0.01%             | 2036-08-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| CELANESE US HOLDINGS LLC                                         | Celanese US Holdings LLC                                                                                                     | CUSIP: 15089QBA1<br>LEI: CD30XVRLT4QO00B1C706 | Long             | DBT              | CORP              | US        |   2319000 | PA      | $2309216.02   | 0.11%             | 2033-04-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| REDFIN CORP                                                      | Redfin Corp                                                                                                                  | CUSIP: 75737FAE8<br>LEI: 549300HXWD3JEMZU3O57 | Long             | DBT              | CORP              | US        |    444000 | PA      | $410034.00    | 0.02%             | 2027-04-01      | Fixed         | 0.50%                 | No            |                  2 | On Loan: No      |
| CHARTER COMM OPT LLC/CAP                                         | Charter Communications Operating LLC / Charter Communications Operating Capital                                              | CUSIP: 161175BA1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2250000 | PA      | $2222792.39   | 0.10%             | 2045-10-23      | Fixed         | 6.48%                 | No            |                  2 | On Loan: No      |
| VDCM Commercial Mortgage Trust                                   | VDCM Commercial Mortgage Trust 2025-AZ                                                                                       | CUSIP: 91825CAG0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    100000 | PA      | $101072.51    | 0.00%             | 2044-07-13      | Variable      | 6.43%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF GEORGIA                                              | Georgia Government International Bond                                                                                        | CUSIP: 37311PAB6<br>LEI: 2138007T8RLEVDMLQ257 | Long             | DBT              | NUSS              | GE        |    200000 | PA      | $195717.19    | 0.01%             | 2026-04-22      | Fixed         | 2.75%                 | No            |                  2 | On Loan: No      |
| CANADIAN NATL RESOURCES                                          | Canadian Natural Resources Ltd                                                                                               | CUSIP: 136385BA8<br>LEI: 549300T15RIMIKZC5Q38 | Long             | DBT              | CORP              | CA        |   4730000 | PA      | $4431830.02   | 0.20%             | 2030-07-15      | Fixed         | 2.95%                 | No            |                  2 | On Loan: No      |
| DISCOVERY COMMUNICATIONS                                         | Discovery Communications LLC                                                                                                 | CUSIP: 25470DBZ1<br>LEI: L2Z2MO2EQURH3BREWI15 | Long             | DBT              | CORP              | US        |     75000 | PA      | $68825.25     | 0.00%             | 2040-06-01      | Fixed         | 6.35%                 | No            |                  2 | On Loan: No      |
| AMWINS GROUP INC                                                 | AmWINS Group Inc 2025 Term Loan B                                                                                            | CUSIP: 03234TBA5<br>LEI: 549300SJE7MUB8NMRG61 | Long             | LON              | CORP              | US        |    497494 | PA      | $497165.39    | 0.02%             | 2032-01-30      | Floating      | 6.25%                 | No            |                  2 | On Loan: No      |
| Petroleos Mexicanos                                              | Petroleos Mexicanos                                                                                                          | CUSIP: 706451BG5<br>LEI: 549300CAZKPF4HKMPX17 | Long             | DBT              | CORP              | MX        |    500000 | PA      | $476776.05    | 0.02%             | 2035-06-15      | Fixed         | 6.63%                 | No            |                  2 | On Loan: No      |
| MILLROSE PROPERTIES INC                                          | Millrose Properties Inc                                                                                                      | CUSIP: 601137AA0<br>LEI: N/A                  | Long             | DBT              |  | US        |    135000 | PA      | $137293.65    | 0.01%             | 2030-08-01      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| Goldman Sachs Bank USA                                           | PURCHASED USD / SOLD EUR                                                                                                     | CUSIP: 000000000<br>LEI: KD3XUN7C6T14HNAYLU02 | N/A              | DFE              |  | US        |         1 | NC      | $-633.85      | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| RESIDEO FUNDING INC                                              | Resideo Funding Inc                                                                                                          | CUSIP: 76119LAD3<br>LEI: 5493000IFJ6XJKH66598 | Long             | DBT              | CORP              | US        |    100000 | PA      | $102490.50    | 0.00%             | 2032-07-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| COTIVITI CORPORATION                                             | Cotiviti Corporation 2024 Term Loan                                                                                          | CUSIP: 22164MAB3<br>LEI: 254900YAQHVRTG4IFI64 | Long             | LON              | CORP              | US        |    746231 | PA      | $732239.33    | 0.03%             | 2031-05-01      | Floating      | 7.03%                 | No            |                  2 | On Loan: No      |
| M2S GROUP HOLDINGS INC                                           | M2S Group Holdings Inc Term Loan B                                                                                           | CUSIP: 55287CAB7<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    815000 | PA      | $806442.50    | 0.04%             | 2031-08-25      | Floating      | 9.06%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                      | Freddie Mac Pool                                                                                                             | CUSIP: 31427NAS8<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   1229528 | PA      | $1058291.94   | 0.05%             | 2052-04-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| DG Investment Intermediate Holdings 2, Inc.                      | DG Investment Intermediate Holdings 2 Inc 2025 2nd Lien Term Loan                                                            | CUSIP: 23344MAN8<br>LEI: N/A                  | Long             | LON              | CORP              | US        |     45000 | PA      | $44662.50     | 0.00%             | 2033-07-31      | Floating      | 9.66%                 | No            |                  2 | On Loan: No      |
| STATE OF ISRAEL                                                  | Israel Government International Bond                                                                                         | CUSIP: 46514BRM1<br>LEI: 213800T8ZHTFZIBYPE21 | Long             | DBT              | NUSS              | IL        |    200000 | PA      | $189188.68    | 0.01%             | 2054-03-12      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                      | Freddie Mac Pool                                                                                                             | CUSIP: 3132DWF40<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     92621 | PA      | $90226.42     | 0.00%             | 2053-01-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| PHOENIX AVIATION CAPITAL                                         | Phoenix Aviation Capital Ltd                                                                                                 | CUSIP: 71910DAA9<br>LEI: 8945008YQAKXZQ3VYJ15 | Long             | DBT              | CORP              | IE        |    128000 | PA      | $136180.99    | 0.01%             | 2030-07-15      | Fixed         | 9.25%                 | No            |                  2 | On Loan: No      |
| GOVT OF BERMUDA                                                  | Bermuda Government International Bond                                                                                        | CUSIP: 085209AH7<br>LEI: 549300FP5PUZXX9FVJ40 | Long             | DBT              | NUSS              | BM        |     50000 | PA      | $35185.00     | 0.00%             | 2050-08-20      | Fixed         | 3.38%                 | No            |                  2 | On Loan: No      |
| STRATEGY INC                                                     | Strategy Inc                                                                                                                 | CUSIP: 594972853<br>LEI: 549300WQTWEJUEHXQX21 | Long             | EP               | CORP              | US        |       700 | NS      | $67942.00     | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| FIDEIC IRR ADMIN 4323                                            | Fideicomiso Irrevocable de Administracion y Fuente de Pago Numero CIB/4323                                                   | CUSIP: 171928AA2<br>LEI: N/A                  | Long             | DBT              | CORP              | MX        |    464600 | PA      | $255530.00    | 0.01%             | 2030-09-12      | Fixed         | 11.00%                | No            |                  2 | On Loan: No      |
| AZORRA FINANCE                                                   | Azorra Finance Ltd                                                                                                           | CUSIP: 05480AAB1<br>LEI: 254900MC1HXDAVUUP395 | Long             | DBT              | CORP              | KY        |    135000 | PA      | $140574.29    | 0.01%             | 2031-01-15      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| CHAMPIONS FINANCING INC                                          | Champions Financing Inc                                                                                                      | CUSIP: 15870LAA6<br>LEI: 391200ZDD75EGEUJ7625 | Long             | DBT              | CORP              | US        |     70000 | PA      | $67603.10     | 0.00%             | 2029-02-15      | Fixed         | 8.75%                 | No            |                  2 | On Loan: No      |
| Mexico Government International Bonds                            | Mexico Government International Bonds                                                                                        | CUSIP: 91087BAN0<br>LEI: 254900EGTWEU67VP6075 | Long             | DBT              | NUSS              | MX        |    200000 | PA      | $125790.00    | 0.01%             | 2061-05-24      | Fixed         | 3.77%                 | No            |                  2 | On Loan: No      |
| AERCAP IRELAND CAP/GLOBA                                         | AerCap Ireland Capital DAC / AerCap Global Aviation Trust                                                                    | CUSIP: 00774MAW5<br>LEI: N/A                  | Long             | DBT              | CORP              | IE        |   3769000 | PA      | $3632156.99   | 0.17%             | 2028-10-29      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| OMAN GOV INTERNTL BOND                                           | Oman Government International Bond                                                                                           | CUSIP: 68205LAS2<br>LEI: 549300SZ20F0QTKNQC75 | Long             | DBT              | NUSS              | OM        |    200000 | PA      | $215837.99    | 0.01%             | 2031-01-25      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                      | Freddie Mac Pool                                                                                                             | CUSIP: 3132DVL60<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     70606 | PA      | $57899.05     | 0.00%             | 2052-01-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                      | Freddie Mac Pool                                                                                                             | CUSIP: 3133KYU64<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   5222342 | PA      | $4514307.64   | 0.21%             | 2041-03-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| CITIGROUP INC                                                    | Citigroup Inc                                                                                                                | CUSIP: 000000000<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |    100000 | PA      | $119782.92    | 0.01%             | 2036-07-23      | Fixed         | 4.30%                 | No            |                  2 | On Loan: No      |
| ALUMINA PTY LTD                                                  | Alumina Pty Ltd                                                                                                              | CUSIP: 02220AAB3<br>LEI: 2138002VD9MW2WT8HR38 | Long             | DBT              | CORP              | AU        |    250000 | PA      | $256283.75    | 0.01%             | 2032-09-15      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| HANGER INC                                                       | Hanger Inc 2024 Term Loan B                                                                                                  | CUSIP: 41043BAH1<br>LEI: 254900ZJJJYVLHJXSZ60 | Long             | LON              | CORP              | US        |    220929 | PA      | $221260.58    | 0.01%             | 2031-10-23      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| INVERSION ESCROW ISSUER                                          | Inversion Escrow Issuer LLC                                                                                                  | CUSIP: 46150DAA0<br>LEI: 254900P6GHORGRVLKI95 | Long             | DBT              | CORP              | US        |    280000 | PA      | $275831.83    | 0.01%             | 2032-08-01      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| MOSS CREEK RESOURCES HLD                                         | Moss Creek Resources Holdings Inc                                                                                            | CUSIP: 61965RAC9<br>LEI: 54930037SLMSPWKYIX36 | Long             | DBT              | CORP              | US        |    211000 | PA      | $206760.67    | 0.01%             | 2031-09-01      | Fixed         | 8.25%                 | No            |                  2 | On Loan: No      |
| NAVOI MINING METALLURGIC                                         | Navoi Mining & Metallurgical Combinat                                                                                        | CUSIP: 63890CAB0<br>LEI: N/A                  | Long             | DBT              | CORP              | UZ        |    200000 | PA      | $213028.18    | 0.01%             | 2031-10-17      | Fixed         | 6.95%                 | No            |                  2 | On Loan: No      |
| Extended Stay America Trust                                      | Extended Stay America Trust 2025-ESH                                                                                         | CUSIP: 30227TAJ9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    100000 | PA      | $100250.03    | 0.00%             | 2042-10-15      | Floating      | 7.50%                 | No            |                  2 | On Loan: No      |
| ALBION FINANCING 1SARL /                                         | Albion Financing 1 SARL / Aggreko Holdings Inc                                                                               | CUSIP: 01330AAA4<br>LEI: N/A                  | Long             | DBT              | CORP              | LU        |    165000 | PA      | $170659.50    | 0.01%             | 2030-05-21      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| ABU DHABI DEVELOPMENT HO                                         | Abu Dhabi Developmental Holding Co PJSC                                                                                      | CUSIP: 00402D2B0<br>LEI: 254900G082ZFKTCR2Q75 | Long             | DBT              | CORP              | AE        |    200000 | PA      | $211785.62    | 0.01%             | 2034-05-08      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| SOUTHERN GAS CORRIDOR                                            | Southern Gas Corridor CJSC                                                                                                   | CUSIP: 84302LAA0<br>LEI: 213800DG58KG59XY6318 | Long             | DBT              | CORP              | AZ        |    150000 | PA      | $151549.94    | 0.01%             | 2026-03-24      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| SIRIUS REAL ESTATE LTD                                           | Sirius Real Estate Ltd                                                                                                       | CUSIP: 000000000<br>LEI: 213800NURUF5W8QSK566 | Long             | DBT              | CORP              | GG        |    100000 | PA      | $117012.71    | 0.01%             | 2032-01-22      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| VTR Commercial Mortgage Trust                                    | VTR Commercial Mortgage Trust 2025-STEM                                                                                      | CUSIP: 92890YAG0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    100000 | PA      | $100111.80    | 0.00%             | 2041-10-13      | Variable      | 6.71%                 | No            |                  2 | On Loan: No      |
| ENERGY TRANSFER LP                                               | Energy Transfer LP                                                                                                           | CUSIP: 29273VAM2<br>LEI: MTLVN9N7JE8MIBIJ1H73 | Long             | DBT              | CORP              | US        |     80000 | PA      | $82663.76     | 0.00%             | 2030-05-15      | Fixed         | 7.13%                 | No            |                  2 | On Loan: No      |
| LGI HOMES INC                                                    | LGI Homes Inc                                                                                                                | CUSIP: 50187TAK2<br>LEI: 549300W02B4WNV8CV109 | Long             | DBT              | CORP              | US        |    330000 | PA      | $322220.25    | 0.01%             | 2032-11-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| Citigroup Commercial Mortgage Trust                              | Citigroup Commercial Mortgage Trust 2023-SMRT                                                                                | CUSIP: 17291NAG6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    127000 | PA      | $126488.32    | 0.01%             | 2040-10-12      | Variable      | 6.05%                 | No            |                  2 | On Loan: No      |
| Polaris Newco LLC                                                | Polaris Newco LLC 2nd Lien Term Loan                                                                                         | CUSIP: 000000000<br>LEI: 549300F7JH48O4IYRX29 | Long             | LON              | CORP              | US        |    150000 | PA      | $142500.00    | 0.01%             | 2029-06-04      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| ICAHN ENTERPRISES/FIN                                            | Icahn Enterprises LP / Icahn Enterprises Finance Corp                                                                        | CUSIP: 451102CK1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    300000 | PA      | $301325.28    | 0.01%             | 2029-11-15      | Fixed         | 10.00%                | No            |                  2 | On Loan: No      |
| Par Petroleum LLC                                                | Par Petroleum LLC 2024 Term Loan B                                                                                           | CUSIP: 69889PAE5<br>LEI: 984500CCF05C2FB39F45 | Long             | LON              | CORP              | US        |    498727 | PA      | $497480.67    | 0.02%             | 2030-02-28      | Floating      | 8.03%                 | No            |                  2 | On Loan: No      |
| MRP BUYER LLC                                                    | MRP Buyer LLC Delayed Draw Term Loan                                                                                         | CUSIP: 55351DAC4<br>LEI: 254900P4JAIDEHZ3O147 | Long             | LON              | CORP              | US        |     11290 | PA      | $11089.24     | 0.00%             | 2032-06-04      | Floating      | 7.25%                 | No            |                  2 | On Loan: No      |
| ALTICE FINANCING SA                                              | Altice Financing SA                                                                                                          | CUSIP: 02154CAJ2<br>LEI: 549300DIYGW8HVDF7Q17 | Long             | DBT              | CORP              | LU        |     75000 | PA      | $67500.00     | 0.00%             | 2027-07-15      | Fixed         | 9.63%                 | No            |                  2 | On Loan: No      |
| BX Trust                                                         | BX Trust 2025-TAIL                                                                                                           | CUSIP: 123912AG2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    128000 | PA      | $128196.80    | 0.01%             | 2035-06-15      | Floating      | 6.60%                 | No            |                  2 | On Loan: No      |
| Colombia Government International Bonds                          | Colombia Government International Bonds                                                                                      | CUSIP: 195325DR3<br>LEI: 549300MHDRBVRF6B9117 | Long             | DBT              | NUSS              | CO        |    350000 | PA      | $315490.00    | 0.01%             | 2030-01-30      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| CLEAR CHANNEL OUTDOOR HO                                         | Clear Channel Outdoor Holdings Inc                                                                                           | CUSIP: 18453HAF3<br>LEI: 254900XBEE6V1ENYS150 | Long             | DBT              | CORP              | US        |    250000 | PA      | $262506.50    | 0.01%             | 2030-04-01      | Fixed         | 7.88%                 | No            |                  2 | On Loan: No      |
| VISTRA OPERATIONS CO LLC                                         | Vistra Operations Co LLC                                                                                                     | CUSIP: 92840VAR3<br>LEI: 549300ZH5GKBTJZ7NM23 | Long             | DBT              | CORP              | US        |    250000 | PA      | $261469.19    | 0.01%             | 2032-04-15      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| CALUMET SPECIALTY PROD                                           | Calumet Specialty Products Partners LP / Calumet Finance Corp                                                                | CUSIP: 131477AV3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    170000 | PA      | $168147.49    | 0.01%             | 2027-01-15      | Fixed         | 8.13%                 | No            |                  2 | On Loan: No      |
| VIKING CRUISES LTD                                               | Viking Cruises Ltd                                                                                                           | CUSIP: 92676XAH0<br>LEI: 549300IJP90T4MV2GL84 | Long             | DBT              | CORP              | BM        |    415000 | PA      | $415291.24    | 0.02%             | 2033-10-15      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| MRP BUYER LLC                                                    | MRP Buyer LLC Term Loan                                                                                                      | CUSIP: 55351DAB6<br>LEI: 254900P4JAIDEHZ3O147 | Long             | LON              | CORP              | US        |     88710 | PA      | $87129.76     | 0.00%             | 2032-06-04      | Floating      | 7.25%                 | No            |                  2 | On Loan: No      |
| OCP CLO Ltd                                                      | OCP CLO 2018-15 Ltd                                                                                                          | CUSIP: 67112KAG4<br>LEI: 254900WK4JKXAXOKTL68 | Long             | ABS-CBDO         | CORP              | KY        |    819000 | PA      | $820208.84    | 0.04%             | 2038-01-20      | Floating      | 5.58%                 | No            |                  2 | On Loan: No      |
| RITHM CAPITAL CORP                                               | Rithm Capital Corp                                                                                                           | CUSIP: 64828TAC6<br>LEI: 549300WNTHGEO5LP2G31 | Long             | DBT              |  | US        |     55000 | PA      | $56306.25     | 0.00%             | 2030-07-15      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| Tiger Acquisition LLC                                            | Tiger Acquisition LLC 2025 Term Loan B                                                                                       | CUSIP: 88675UAE2<br>LEI: 25490011XE2GWJKY5N51 | Long             | LON              | CORP              | US        |    145000 | PA      | $144391.00    | 0.01%             | 2032-08-23      | Floating      | 6.64%                 | No            |                  2 | On Loan: No      |
| SABRA HEALTH CARE LP                                             | Sabra Health Care LP                                                                                                         | CUSIP: 78574MAA1<br>LEI: 549300OVKLRFSIQG0H81 | Long             | DBT              |  | US        |   2860000 | PA      | $2596951.39   | 0.12%             | 2031-12-01      | Fixed         | 3.20%                 | No            |                  2 | On Loan: No      |
| CITIGROUP INC                                                    | Citigroup Inc                                                                                                                | CUSIP: 172967PF2<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |   4015000 | PA      | $4118648.79   | 0.19%             | 2030-02-13      | Fixed         | 5.17%                 | No            |                  2 | On Loan: No      |
| Cornerstone Building Brands Inc                                  | Cornerstone Building Brands Inc 2022 Term Loan                                                                               | CUSIP: 21925FAA2<br>LEI: 549300IW41QEWQ6T0H29 | Long             | LON              | CORP              | US        |     94756 | PA      | $90807.91     | 0.00%             | 2028-08-01      | Floating      | 9.78%                 | No            |                  2 | On Loan: No      |
| Chicago Board of Trade                                           | US 5YR NOTE (CBT) DEC25                                                                                                      | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DIR              |  | US        |        29 | NC      | $-10874.20    | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| FIRST QUANTUM MINERALS L                                         | First Quantum Minerals Ltd                                                                                                   | CUSIP: 335934AX3<br>LEI: 549300I7UVBGWRYMYZ18 | Long             | DBT              | CORP              | CA        |    400000 | PA      | $413581.20    | 0.02%             | 2034-02-15      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| INVERSIONES CMPC SA                                              | Inversiones CMPC SA                                                                                                          | CUSIP: 46128MAQ4<br>LEI: 549300G475ACIABB4385 | Long             | DBT              | CORP              | CL        |     50000 | PA      | $45014.72     | 0.00%             | 2031-04-06      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| GRUMA SAB DE CV                                                  | Gruma SAB de CV                                                                                                              | CUSIP: 400131AJ7<br>LEI: 5493000XJLJ6C4T0PG82 | Long             | DBT              | CORP              | MX        |    250000 | PA      | $248478.29    | 0.01%             | 2054-12-09      | Fixed         | 5.76%                 | No            |                  2 | On Loan: No      |
| Extended Stay America Trust                                      | Extended Stay America Trust 2025-ESH                                                                                         | CUSIP: 30227TAL4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    100000 | PA      | $100250.19    | 0.00%             | 2042-10-15      | Floating      | 8.25%                 | No            |                  2 | On Loan: No      |
| Emrld Borrower LP                                                | EMRLD Borrower LP Term Loan B                                                                                                | CUSIP: 26872NAC3<br>LEI: 5493000GJYE7GAQCUC61 | Long             | LON              | CORP              | US        |     34912 | PA      | $34794.15     | 0.00%             | 2030-05-31      | Floating      | 6.45%                 | No            |                  2 | On Loan: No      |
| HORIZON US FINCO LP                                              | Horizon US Finco LP Term Loan B                                                                                              | CUSIP: 44057XAB3<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    392908 | PA      | $384558.71    | 0.02%             | 2031-10-31      | Floating      | 8.81%                 | No            |                  2 | On Loan: No      |
| LBM ACQUISITION LLC                                              | LBM Acquisition LLC                                                                                                          | CUSIP: 52109SAB5<br>LEI: 549300FAEB3VWZL4NI86 | Long             | DBT              | CORP              | US        |    245000 | PA      | $257450.60    | 0.01%             | 2031-06-15      | Fixed         | 9.50%                 | No            |                  2 | On Loan: No      |
| BLOCK INC                                                        | Block Inc                                                                                                                    | CUSIP: 852234AP8<br>LEI: 549300OHIIUWSTIZME52 | Long             | DBT              | CORP              | US        |    300000 | PA      | $279186.81    | 0.01%             | 2031-06-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| CPI HOLDCO B LLC                                                 | CPI Holdco B LLC 2024 Term Loan                                                                                              | CUSIP: 1261MAAB6<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    279295 | PA      | $278945.59    | 0.01%             | 2031-05-19      | Floating      | 6.16%                 | No            |                  2 | On Loan: No      |
| BW REAL ESTATE INC                                               | BW Real Estate Inc                                                                                                           | CUSIP: 05614HAA7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    200000 | PA      | $206400.80    | 0.01%             | 2030-03-30      | Fixed         | 9.50%                 | No            |                  2 | On Loan: No      |
| PBF HOLDING CO LLC                                               | PBF Holding Co LLC / PBF Finance Corp                                                                                        | CUSIP: 69318FAJ7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     30000 | PA      | $29815.64     | 0.00%             | 2028-02-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| JANE STREET GRP/JSG FIN                                          | Jane Street Group / JSG Finance Inc                                                                                          | CUSIP: 47077WAD0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    200000 | PA      | $202711.83    | 0.01%             | 2032-11-01      | Fixed         | 6.13%                 | No            |                  2 | On Loan: No      |
| GEORGIA POWER CO                                                 | Georgia Power Co                                                                                                             | CUSIP: 373334KT7<br>LEI: D981X4Z4RWS7PDMJUZ03 | Long             | DBT              | CORP              | US        |   4200000 | PA      | $4284391.36   | 0.20%             | 2033-05-17      | Fixed         | 4.95%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF GHANA                                                | Ghana Government International Bond                                                                                          | CUSIP: 374422AP8<br>LEI: 213800PP4399SNNXZ126 | Long             | DBT              | NUSS              | GH        |     89088 | PA      | $74974.91     | 0.00%             | 2035-07-03      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| ACURIS FIN US/ACURIS FIN                                         | Acuris Finance US Inc / Acuris Finance SARL                                                                                  | CUSIP: 00511BAE7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    150000 | PA      | $156750.00    | 0.01%             | 2029-08-01      | Fixed         | 9.00%                 | No            |                  2 | On Loan: No      |
| ADVANTAGE SALES & MARKET                                         | Advantage Sales & Marketing Inc                                                                                              | CUSIP: 00775PAA5<br>LEI: 549300T4O24KQDED1182 | Long             | DBT              | CORP              | US        |    185000 | PA      | $159233.46    | 0.01%             | 2028-11-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Mexico Government International Bonds                            | Mexico Government International Bonds                                                                                        | CUSIP: 91087BBC3<br>LEI: 254900EGTWEU67VP6075 | Long             | DBT              | NUSS              | MX        |    250000 | PA      | $269625.00    | 0.01%             | 2037-05-13      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| PENNYMAC FIN SVCS INC                                            | PennyMac Financial Services Inc                                                                                              | CUSIP: 70932MAH0<br>LEI: 549300W1D516HBDEU871 | Long             | DBT              | CORP              | US        |    135000 | PA      | $137711.61    | 0.01%             | 2034-02-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| BUILDERS FIRSTSOURCE INC                                         | Builders FirstSource Inc                                                                                                     | CUSIP: 12008RAS6<br>LEI: 549300W0SKP6L3H7DP63 | Long             | DBT              | CORP              | US        |    100000 | PA      | $103010.60    | 0.00%             | 2034-03-01      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| Wells Fargo Commercial Mortgage Trust                            | Wells Fargo Commercial Mortgage Trust 2025-B33RP                                                                             | CUSIP: 95004RAJ5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    160000 | PA      | $159998.38    | 0.01%             | 2042-08-15      | Floating      | 7.65%                 | No            |                  2 | On Loan: No      |
| RAND PARENT LLC                                                  | Rand Parent LLC                                                                                                              | CUSIP: 753272AA1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    460000 | PA      | $477969.90    | 0.02%             | 2030-02-15      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| BLACKSTONE PRIVATE CRE                                           | Blackstone Private Credit Fund                                                                                               | CUSIP: 09261HBU0<br>LEI: 549300ORP3TTCNXSYO43 | Long             | DBT              | CORP              | US        |   1565000 | PA      | $1592464.48   | 0.07%             | 2029-11-22      | Fixed         | 5.60%                 | No            |                  2 | On Loan: No      |
| SOTHEBY'S                                                        | Sotheby's                                                                                                                    | CUSIP: 835898AH0<br>LEI: 549300P5BAAMQQ7VL735 | Long             | DBT              | CORP              | US        |    296000 | PA      | $295165.84    | 0.01%             | 2027-10-15      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| NRG Energy Inc                                                   | NRG Energy Inc 2024 Term Loan                                                                                                | CUSIP: 62937NBC0<br>LEI: 5E2UPK5SW04M13XY7I38 | Long             | LON              | CORP              | US        |    159595 | PA      | $159545.47    | 0.01%             | 2031-04-16      | Floating      | 6.06%                 | No            |                  2 | On Loan: No      |
| SUNOCO LP/FINANCE CORP                                           | Sunoco LP / Sunoco Finance Corp                                                                                              | CUSIP: 86765LAN7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    200000 | PA      | $200052.00    | 0.01%             | 2028-03-15      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| FORD MOTOR CREDIT CO LLC                                         | Ford Motor Credit Co LLC                                                                                                     | CUSIP: 345397C92<br>LEI: UDSQCVRUX5BONN0VY111 | Long             | DBT              | CORP              | US        |   2340000 | PA      | $2430282.91   | 0.11%             | 2028-05-12      | Fixed         | 6.80%                 | No            |                  2 | On Loan: No      |
| LEVIATHAN BOND LTD                                               | Leviathan Bond Ltd                                                                                                           | CUSIP: 000000000<br>LEI: 254900D9T8VKYVQNZ220 | Long             | DBT              | CORP              | IL        |    140000 | PA      | $140315.00    | 0.01%             | 2027-06-30      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| BROADCOM INC                                                     | Broadcom Inc                                                                                                                 | CUSIP: 11135FBK6<br>LEI: 549300WV6GIDOZJTV909 | Long             | DBT              | CORP              | US        |   4810000 | PA      | $4451531.96   | 0.20%             | 2033-04-15      | Fixed         | 3.42%                 | No            |                  2 | On Loan: No      |
| SEAGATE DATA STOR                                                | Seagate Data Storage Technology Pte Ltd                                                                                      | CUSIP: 81180LAS4<br>LEI: N/A                  | Long             | DBT              | CORP              | SG        |    200000 | PA      | $199356.01    | 0.01%             | 2034-12-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| NOVELIS CORP                                                     | Novelis Corp                                                                                                                 | CUSIP: 670001AN6<br>LEI: 549300G5F3W3B52WYL23 | Long             | DBT              | CORP              | US        |     70000 | PA      | $70723.50     | 0.00%             | 2033-08-15      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| Asurion LLC                                                      | Asurion LLC 2023 Term Loan B11                                                                                               | CUSIP: 04649VBC3<br>LEI: 549300KNQVXGIOXWK278 | Long             | LON              | CORP              | US        |     74617 | PA      | $74830.00     | 0.00%             | 2028-08-19      | Floating      | 8.51%                 | No            |                  2 | On Loan: No      |
| GALAXY PIPELINE ASSETS                                           | Galaxy Pipeline Assets Bidco Ltd                                                                                             | CUSIP: 36321PAB6<br>LEI: 549300L82YB0C6JQIC26 | Long             | DBT              | CORP              | JE        |    300000 | PA      | $264248.37    | 0.01%             | 2036-03-31      | Fixed         | 2.63%                 | No            |                  2 | On Loan: No      |
| IHS HOLDING LTD                                                  | IHS Holding Ltd                                                                                                              | CUSIP: 44963HAD7<br>LEI: 213800CLGMKL63VKTD94 | Long             | DBT              | CORP              | KY        |    200000 | PA      | $210019.06    | 0.01%             | 2031-11-29      | Fixed         | 8.25%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                      | Freddie Mac Pool                                                                                                             | CUSIP: 3132DVL52<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   3845172 | PA      | $3309654.44   | 0.15%             | 2051-11-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| CHAMPION IRON CANADA INC                                         | Champion Iron Canada Inc                                                                                                     | CUSIP: 15853BAA9<br>LEI: N/A                  | Long             | DBT              | CORP              | CA        |     50000 | PA      | $52276.65     | 0.00%             | 2032-07-15      | Fixed         | 7.88%                 | No            |                  2 | On Loan: No      |
| CITIGROUP INC                                                    | Citigroup Inc                                                                                                                | CUSIP: 172967ML2<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |   7040000 | PA      | $6544218.98   | 0.30%             | 2031-01-29      | Fixed         | 2.67%                 | No            |                  2 | On Loan: No      |
| Goldman Sachs & Co. LLC                                          | LQC726000 SWAPTION                                                                                                           | CUSIP: 000000000<br>LEI: FOR8UP27PHTHYVLBNG30 | N/A              | DIR              |  | US        |   1790000 | NC      | $55630.87     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| United States Treasury                                           | U.S. Treasury Notes                                                                                                          | CUSIP: 91282CMM0<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  99870000 | PA      | $103786776.56 | 4.75%             | 2035-02-15      | Fixed         | 4.63%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                       | Fannie Mae Pool                                                                                                              | CUSIP: 3140X5TL7<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    915933 | PA      | $900788.76    | 0.04%             | 2050-01-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| BX Trust                                                         | BX Commercial Mortgage Trust 2025-SPOT                                                                                       | CUSIP: 12433FAJ7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    349416 | PA      | $349416.10    | 0.02%             | 2040-04-15      | Floating      | 7.84%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF GUATEMALA                                            | Guatemala Government Bond                                                                                                    | CUSIP: 401494AS8<br>LEI: 529900QKDFFU9UWW5315 | Long             | DBT              | NUSS              | GT        |    100000 | PA      | $100500.13    | 0.00%             | 2032-04-24      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| United States Treasury                                           | U.S. Treasury Bonds                                                                                                          | CUSIP: 912810UM8<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   8400000 | PA      | $8428875.00   | 0.39%             | 2055-08-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| AMERICAN TOWER CORP                                              | American Tower Corp                                                                                                          | CUSIP: 000000000<br>LEI: 5493006ORUSIL88JOE18 | Long             | DBT              |  | US        |    150000 | PA      | $179042.41    | 0.01%             | 2032-05-30      | Fixed         | 3.63%                 | No            |                  2 | On Loan: No      |
| UMBS, TBA                                                        | Uniform Mortgage-Backed Security, TBA                                                                                        | CUSIP: 01F0206B0<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |  17725000 | PA      | $14285635.15  | 0.65%             | 2055-11-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| BX Trust                                                         | BX Commercial Mortgage Trust 2021-VOLT                                                                                       | CUSIP: 05609VAS4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    387531 | PA      | $381718.01    | 0.02%             | 2036-09-15      | Floating      | 7.11%                 | No            |                  2 | On Loan: No      |
| Republic of Poland Government International Bonds                | Republic of Poland Government International Bonds                                                                            | CUSIP: 731011AW2<br>LEI: 259400R9L8QEP0TPXS31 | Long             | DBT              | NUSS              | PL        |     40000 | PA      | $38734.24     | 0.00%             | 2053-04-04      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| UMBS, TBA                                                        | Uniform Mortgage-Backed Security, TBA                                                                                        | CUSIP: 01F0626A4<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |    675000 | PA      | $697533.99    | 0.03%             | 2054-10-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| ADNOC MURBAN RSC LTD                                             | Adnoc Murban Rsc Ltd                                                                                                         | CUSIP: 00723L2C2<br>LEI: 213800OWGH7RAYG61M70 | Long             | DBT              | CORP              | AE        |    200000 | PA      | $189664.98    | 0.01%             | 2054-09-11      | Fixed         | 5.13%                 | No            |                  2 | On Loan: No      |
| CABLE ONDA SA                                                    | Telecomunicaciones Digitales SA                                                                                              | CUSIP: 12686LAA7<br>LEI: 5299008Q5GONPYNF9J32 | Long             | DBT              | CORP              | PA        |    250000 | PA      | $238678.07    | 0.01%             | 2030-01-30      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| SOUTH BOW CAN INFRA HOLD                                         | South Bow Canadian Infrastructure Holdings Ltd                                                                               | CUSIP: 836720AJ1<br>LEI: 2549004FYUSYLPBT1G26 | Long             | DBT              | CORP              | CA        |    135000 | PA      | $143351.51    | 0.01%             | 2055-03-01      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| GSAT Trust 2025-BMF                                              | GSAT Trust 2025-BMF                                                                                                          | CUSIP: 36271XAL7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    130000 | PA      | $130156.91    | 0.01%             | 2040-07-15      | Floating      | 8.30%                 | No            |                  2 | On Loan: No      |
| Republic of Angola                                               | Angolan Government International Bond                                                                                        | CUSIP: 035198AC4<br>LEI: 549300QHR2R3J8JSGK83 | Long             | DBT              | NUSS              | AO        |     50000 | PA      | $42874.12     | 0.00%             | 2048-05-08      | Fixed         | 9.38%                 | No            |                  2 | On Loan: No      |
| GTCR EVEREST BORROWER LLC                                        | GTCR Everest Borrower LLC Add on Term Loan B                                                                                 | CUSIP: 36269YAD7<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    552362 | PA      | $552318.31    | 0.03%             | 2031-09-05      | Floating      | 6.75%                 | No            |                  2 | On Loan: No      |
| AT&T INC                                                         | AT&T Inc                                                                                                                     | CUSIP: 00206RKH4<br>LEI: 549300Z40J86GGSTL398 | Long             | DBT              | CORP              | US        |   3760000 | PA      | $3291724.22   | 0.15%             | 2032-02-01      | Fixed         | 2.25%                 | No            |                  2 | On Loan: No      |
| QATAR ENERGY                                                     | QatarEnergy                                                                                                                  | CUSIP: 74730DAB9<br>LEI: 254900QTESJKJ3P87J26 | Long             | DBT              | CORP              | QA        |    300000 | PA      | $291999.00    | 0.01%             | 2026-09-12      | Fixed         | 1.38%                 | No            |                  2 | On Loan: No      |
| Altice France SA                                                 | Altice France SA 2023 USD Term Loan B14                                                                                      | CUSIP: 000000000<br>LEI: 5493001ZMCICV4N02J21 | Long             | LON              | CORP              | FR        |   2000000 | PA      | $1930000.00   | 0.09%             | 2028-08-15      | Floating      | 9.82%                 | No            |                  2 | On Loan: No      |
| HighTower Holdings LLC                                           | HighTower Holdings LLC 2025 1st Lien Term Loan B                                                                             | CUSIP: 43117LAP8<br>LEI: 254900MKOSB7RTMA9K12 | Long             | LON              | CORP              | US        |    498750 | PA      | $497817.34    | 0.02%             | 2032-02-03      | Floating      | 7.07%                 | No            |                  2 | On Loan: No      |
| AMPRION GMBH                                                     | Amprion GmbH                                                                                                                 | CUSIP: 000000000<br>LEI: 529900ZIV0ETYHYZM863 | Long             | DBT              | CORP              | DE        |    300000 | PA      | $365461.94    | 0.02%             | 2034-09-07      | Fixed         | 4.13%                 | No            |                  2 | On Loan: No      |
| UMBS, TBA                                                        | Uniform Mortgage-Backed Security, TBA                                                                                        | CUSIP: 01F0626A4<br>LEI: N/A                  | Short            | ABS-MBS          | USGSE             | US        |   -150000 | PA      | $-155007.55   | -0.01%            | 2054-10-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| CTR PARTNERSHIP/CARETRST                                         | CTR Partnership LP / CareTrust Capital Corp                                                                                  | CUSIP: 126458AE8<br>LEI: N/A                  | Long             | DBT              |  | US        |    150000 | PA      | $145898.36    | 0.01%             | 2028-06-30      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| JPMorgan Chase Bank NA                                           | PURCHASED USD / SOLD JPY                                                                                                     | CUSIP: 000000000<br>LEI: 7H6GLXDRUGQFU57RNE97 | N/A              | DFE              |  | US        |         1 | NC      | $4590.60      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Intercontinental Exchange, Inc.                                  | Long: BRM969000 CDS USD R V 03MEVENT LRM969000_PRO CCPCDX / Short: BRM969000 CDS USD P F  1.00000 LRM969000_FEE CCPCDX       | CUSIP: 000000000<br>LEI: 5493000F4ZO33MV32P92 | N/A              | DCR              |  | US        |    525000 | OU      | $-7649.71     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| EDISON INTERNATIONAL                                             | Edison International                                                                                                         | CUSIP: 281020AX5<br>LEI: 549300I7ROF15MAEVP56 | Long             | DBT              | CORP              | US        |    150000 | PA      | $153300.60    | 0.01%             | 2053-06-15      | Fixed         | 8.13%                 | No            |                  2 | On Loan: No      |
| FannieMae Grantor Trust                                          | Fannie Mae Grantor Trust 1999-T2                                                                                             | CUSIP: 31359VYH0<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |        90 | PA      | $93.06        | 0.00%             | 2039-01-19      | Variable      | 7.50%                 | No            |                  2 | On Loan: No      |
| APH/APH2/APH3/AQUARIAN                                           | APH Somerset Investor 2 LLC / APH2 Somerset Investor 2 LLC / APH3 Somerset Inves                                             | CUSIP: 00188QAA4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    250000 | PA      | $260905.00    | 0.01%             | 2029-11-01      | Fixed         | 7.88%                 | No            |                  2 | On Loan: No      |
| Dryden Senior Loan Fund                                          | Dryden 108 CLO Ltd                                                                                                           | CUSIP: 26253MAN0<br>LEI: 5493004WJFSUXXJ5FA29 | Long             | ABS-CBDO         | CORP              | JE        |    500000 | PA      | $501763.00    | 0.02%             | 2037-07-18      | Floating      | 5.69%                 | No            |                  2 | On Loan: No      |
| Dynasty Acquisition Co Inc                                       | Dynasty Acquisition Co Inc 2024 1st Lien Term Loan B2                                                                        | CUSIP: 26812CAP1<br>LEI: 549300L1RCRPOAUCB870 | Long             | LON              | CORP              | US        |    137087 | PA      | $137080.31    | 0.01%             | 2031-10-31      | Floating      | 6.16%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                       | Fannie Mae Pool                                                                                                              | CUSIP: 3140QLMW3<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   2164191 | PA      | $1767703.75   | 0.08%             | 2051-08-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| DG Investment Intermediate Holdings 2, Inc.                      | DG Investment Intermediate Holdings 2 Inc 2025 Term Loan                                                                     | CUSIP: 23344MAM0<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    498705 | PA      | $499328.04    | 0.02%             | 2032-07-09      | Floating      | 7.91%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF ECUADOR                                              | Ecuador Government International Bond                                                                                        | CUSIP: 000000000<br>LEI: 5299003Y2U5XK0A35H71 | Long             | DBT              | NUSS              | EC        |    200000 | PA      | $150780.00    | 0.01%             | 2035-07-31      | Fixed         | 6.90%                 | No            |                  2 | On Loan: No      |
| CONSOLIDATED ENERGY FIN                                          | Consolidated Energy Finance SA                                                                                               | CUSIP: 20914UAF3<br>LEI: 549300PUNIS0USNSL750 | Long             | DBT              | CORP              | LU        |     50000 | PA      | $41649.57     | 0.00%             | 2028-10-15      | Fixed         | 5.63%                 | No            |                  2 | On Loan: No      |
| Acrisure, LLC                                                    | Acrisure LLC 2024 1st Lien Term Loan B6                                                                                      | CUSIP: 00488PAV7<br>LEI: 549300R0Z1Q47XRTGO22 | Long             | LON              | CORP              | US        |   1741228 | PA      | $1736335.23   | 0.08%             | 2030-11-06      | Floating      | 7.16%                 | No            |                  2 | On Loan: No      |
| SOMNIGROUP INTERNATIONAL INC                                     | Somnigroup International Inc Term Loan B                                                                                     | CUSIP: 88025BAP6<br>LEI: 549300HFEKVR3US71V91 | Long             | LON              | CORP              | US        |    435000 | PA      | $437175.00    | 0.02%             | 2031-10-24      | Floating      | 6.37%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                       | Fannie Mae Pool                                                                                                              | CUSIP: 3140QQSQ9<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   2938759 | PA      | $2997776.36   | 0.14%             | 2052-11-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                         | Ginnie Mae II Pool                                                                                                           | CUSIP: 3618N5CZ0<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   1077743 | PA      | $963370.63    | 0.04%             | 2054-12-20      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Bayer US Finance II LLC                                          | Bayer US Finance II LLC                                                                                                      | CUSIP: 07274NAL7<br>LEI: 529900XWNEXYNJ3X6T40 | Long             | DBT              | CORP              | US        |   4270000 | PA      | $4254778.82   | 0.19%             | 2028-12-15      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| SELECT MEDICAL CORP                                              | Select Medical Corp                                                                                                          | CUSIP: 816196AV1<br>LEI: 549300X05KS0JKR8CB50 | Long             | DBT              | CORP              | US        |    250000 | PA      | $250104.75    | 0.01%             | 2032-12-01      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| SUNOCO LP                                                        | Sunoco LP                                                                                                                    | CUSIP: 86765KAG4<br>LEI: 54930001NJU8E40NQ561 | Long             | DBT              | CORP              | US        |     70000 | PA      | $69393.93     | 0.00%             | 2034-03-15      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| ALBERTSONS COS/SAFEWAY                                           | Albertsons Cos Inc / Safeway Inc / New Albertsons LP / Albertsons LLC                                                        | CUSIP: 013092AG6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    235000 | PA      | $222699.11    | 0.01%             | 2029-03-15      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| ENERGY TRANSFER LP                                               | Energy Transfer LP                                                                                                           | CUSIP: 29273VAS9<br>LEI: MTLVN9N7JE8MIBIJ1H73 | Long             | DBT              | CORP              | US        |   4235000 | PA      | $4456037.95   | 0.20%             | 2028-12-01      | Fixed         | 6.10%                 | No            |                  2 | On Loan: No      |
| GS Mortgage Securities Trust                                     | GS Mortgage Securities Trust 2019-GC38                                                                                       | CUSIP: 36252SBA4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    150888 | PA      | $145025.71    | 0.01%             | 2052-02-10      | Variable      | 4.31%                 | No            |                  2 | On Loan: No      |
| AYDEM YENILENEBILIR ENER                                         | Aydem Yenilenebilir Enerji AS                                                                                                | CUSIP: 054644AA7<br>LEI: 9845009C50EDA74OA532 | Long             | DBT              | CORP              | TR        |    160000 | PA      | $161746.22    | 0.01%             | 2027-02-02      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| Republic of Poland Government International Bonds                | Republic of Poland Government International Bonds                                                                            | CUSIP: 857524AE2<br>LEI: 259400R9L8QEP0TPXS31 | Long             | DBT              | NUSS              | PL        |    100000 | PA      | $107140.83    | 0.00%             | 2032-11-16      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| TEVA PHARMACEUTICALS NE                                          | Teva Pharmaceutical Finance Netherlands III BV                                                                               | CUSIP: 88167AAS0<br>LEI: 5493004T21MOAFINJP35 | Long             | DBT              | CORP              | NL        |    200000 | PA      | $218259.00    | 0.01%             | 2029-09-15      | Fixed         | 7.88%                 | No            |                  2 | On Loan: No      |
| Uruguay Government International Bonds                           | Uruguay Government International Bonds                                                                                       | CUSIP: 760942BE1<br>LEI: 549300RDR012H2V82H43 | Long             | DBT              | NUSS              | UY        |     50000 | PA      | $53600.00     | 0.00%             | 2034-10-28      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| ZIGGO BV                                                         | Ziggo BV                                                                                                                     | CUSIP: 98955DAA8<br>LEI: 213800TQASLF9JXH5J59 | Long             | DBT              | CORP              | NL        |    100000 | PA      | $94385.68     | 0.00%             | 2030-01-15      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| Ensemble RCM LLC                                                 | Ensemble RCM LLC 2024 Term Loan B                                                                                            | CUSIP: 29359BAE1<br>LEI: 254900PDXJVVI20WAQ37 | Long             | LON              | CORP              | US        |     99495 | PA      | $99705.87     | 0.00%             | 2029-08-01      | Floating      | 7.31%                 | No            |                  2 | On Loan: No      |
| AXIS Equipment Finance Receivables LLC                           | Amur Equipment Finance Receivables XV LLC                                                                                    | CUSIP: 03237FAB1<br>LEI: 254900UXD59DZRJ7U848 | Long             | ABS-O            | CORP              | US        |   1700000 | PA      | $1715601.58   | 0.08%             | 2031-09-22      | Fixed         | 4.70%                 | No            |                  2 | On Loan: No      |
| GRAND CITY PROPERTIES SA                                         | Grand City Properties SA                                                                                                     | CUSIP: 000000000<br>LEI: 5299002QLUYKK2WBMB18 | Long             | DBT              | CORP              | LU        |    100000 | PA      | $114811.68    | 0.01%             | 2026-03-09      | Fixed         | 1.50%                 | No            |                  2 | On Loan: No      |
| MINERAL RESOURCES LTD                                            | Mineral Resources Ltd                                                                                                        | CUSIP: 603051AD5<br>LEI: 5299007V1ACKFFX2P066 | Long             | DBT              | CORP              | AU        |    400000 | PA      | $416060.00    | 0.02%             | 2030-05-01      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| ENPRO INC                                                        | Enpro Inc                                                                                                                    | CUSIP: 29355XAH0<br>LEI: 549300Y5CFT2LKCFDN54 | Long             | DBT              | CORP              | US        |    135000 | PA      | $137975.85    | 0.01%             | 2033-06-01      | Fixed         | 6.13%                 | No            |                  2 | On Loan: No      |
| GOVT OF BERMUDA                                                  | Bermuda Government International Bond                                                                                        | CUSIP: 085209AD6<br>LEI: 549300FP5PUZXX9FVJ40 | Long             | DBT              | NUSS              | BM        |    200000 | PA      | $197532.00    | 0.01%             | 2027-01-25      | Fixed         | 3.72%                 | No            |                  2 | On Loan: No      |
| NEXSTAR BROADCASTING INC                                         | Nexstar Broadcasting Inc 2025 Term Loan B5                                                                                   | CUSIP: 65336RBB3<br>LEI: 5493006PK6I4I2OOT688 | Long             | LON              | CORP              | US        |    209475 | PA      | $209137.75    | 0.01%             | 2032-06-28      | Floating      | 6.66%                 | No            |                  2 | On Loan: No      |
| VARSITY BRANDS INC                                               | VARSITY BRANDS INC 2025 1st LIEN TERM LOAN                                                                                   | CUSIP: 92227QAG1<br>LEI: 254900PLBJA0I5NSTT38 | Long             | LON              | CORP              | US        |    497500 | PA      | $497251.32    | 0.02%             | 2031-08-26      | Floating      | 7.03%                 | No            |                  2 | On Loan: No      |
| BEACH ACQUISITION BIDCO                                          | Beach Acquisition Bidco LLC                                                                                                  | CUSIP: 07337JAC1<br>LEI: 254900F2FNX3GBTB6202 | Long             | DBT              | CORP              | US        |    250000 | PA      | $269665.50    | 0.01%             | 2033-07-15      | Fixed         | 10.00%                | No            |                  2 | On Loan: No      |
| Cast and Crew Payroll LLC                                        | Cast and Crew Payroll LLC 2021 Incremental Term Loan                                                                         | CUSIP: 14835JAQ3<br>LEI: 549300XE7OZGFGN5F466 | Long             | LON              | CORP              | US        |    497415 | PA      | $447753.46    | 0.02%             | 2028-12-29      | Floating      | 7.91%                 | No            |                  2 | On Loan: No      |
| CLEAR CHANNEL OUTDOOR HO                                         | Clear Channel Outdoor Holdings Inc                                                                                           | CUSIP: 18453HAD8<br>LEI: 254900XBEE6V1ENYS150 | Long             | DBT              | CORP              | US        |    225000 | PA      | $218523.02    | 0.01%             | 2029-06-01      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                         | Ginnie Mae                                                                                                                   | CUSIP: 21H0606A4<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   2350000 | PA      | $2389981.89   | 0.11%             | 2054-10-20      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| ATHENE GLOBAL FUNDING                                            | Athene Global Funding                                                                                                        | CUSIP: 04685A3Q2<br>LEI: 549300LM1QSI4MSIL320 | Long             | DBT              | CORP              | US        |   2100000 | PA      | $2170329.08   | 0.10%             | 2029-01-09      | Fixed         | 5.58%                 | No            |                  2 | On Loan: No      |
| VOLCAN CIA MINERA SAA-CM                                         | Volcan Cia Minera SAA                                                                                                        | CUSIP: 92863UAC0<br>LEI: 549300XKJ91C4SZLG750 | Long             | DBT              | CORP              | PE        |    350000 | PA      | $363930.00    | 0.02%             | 2030-01-24      | Fixed         | 8.75%                 | No            |                  2 | On Loan: No      |
| Argentina Republic Government International Bonds                | Argentina Republic Government International Bonds                                                                            | CUSIP: 040114HV5<br>LEI: 549300KPBYGYF7HCHO27 | Long             | DBT              | NUSS              | AR        |    350000 | PA      | $168017.50    | 0.01%             | 2041-07-09      | Variable      | 3.50%                 | No            |                  2 | On Loan: No      |
| Spin Holdco Inc                                                  | Spin Holdco Inc 2021 Term Loan                                                                                               | CUSIP: 84850XAK8<br>LEI: 549300QAS44U2GUXGK45 | Long             | LON              | CORP              | US        |   1820781 | PA      | $1518404.11   | 0.07%             | 2028-03-04      | Floating      | 8.39%                 | No            |                  2 | On Loan: No      |
| Turkiye Government International Bonds                           | Turkiye Government International Bonds                                                                                       | CUSIP: 900123DC1<br>LEI: 5493000PCHOG3B6S3Q85 | Long             | DBT              | NUSS              | TR        |    100000 | PA      | $98459.66     | 0.00%             | 2031-06-26      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| Mexico Government International Bonds                            | Mexico Government International Bonds                                                                                        | CUSIP: 91087BBD1<br>LEI: 254900EGTWEU67VP6075 | Long             | DBT              | NUSS              | MX        |    250000 | PA      | $274377.50    | 0.01%             | 2055-05-13      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| TEVA PHARM FIN IV                                                | Teva Pharmaceutical Finance Netherlands IV BV                                                                                | CUSIP: 881937AA4<br>LEI: 549300GKSD1RG56QRY33 | Long             | DBT              | CORP              | NL        |    265000 | PA      | $272925.89    | 0.01%             | 2030-12-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Goldman Sachs & Co. LLC                                          | LOC604000 SWAPTION                                                                                                           | CUSIP: 000000000<br>LEI: FOR8UP27PHTHYVLBNG30 | N/A              | DIR              |  | US        |   3160000 | NC      | $69479.77     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| CONGRUEX GROUP LLC                                               | Congruex Group LLC Term Loan                                                                                                 | CUSIP: 20729MAJ8<br>LEI: 254900DY0KADNJ4ZCJ32 | Long             | LON              | CORP              | US        |     35447 | PA      | $29687.05     | 0.00%             | 2029-05-03      | Floating      | 5.96%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                         | Ginnie Mae                                                                                                                   | CUSIP: 21H0326A3<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   4100000 | PA      | $3737625.81   | 0.17%             | 2055-10-20      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| SEVERN TRENT WATER UTIL                                          | Severn Trent Utilities Finance PLC                                                                                           | CUSIP: 000000000<br>LEI: 213800KY9PT6WBH33232 | Long             | DBT              | CORP              | GB        |    175000 | PA      | $207205.43    | 0.01%             | 2035-08-04      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| SEALED AIR CORP                                                  | Sealed Air Corp                                                                                                              | CUSIP: 812127AC2<br>LEI: Q0M0CZB4YN6JZ65WXI09 | Long             | DBT              | CORP              | US        |     50000 | PA      | $51785.45     | 0.00%             | 2032-07-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                      | Freddie Mac Pool                                                                                                             | CUSIP: 3132DM2S3<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     18835 | PA      | $15425.35     | 0.00%             | 2051-12-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| LEVEL 3 FINANCING INC                                            | Level 3 Financing Inc                                                                                                        | CUSIP: 527298BT9<br>LEI: 254900AE5FEFIJOXWL19 | Long             | DBT              | CORP              | US        |    325000 | PA      | $277039.18    | 0.01%             | 2029-07-15      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| DOMINICAN REPUBLIC                                               | Dominican Republic International Bond                                                                                        | CUSIP: 25714PEZ7<br>LEI: 254900EHU7Q8FGVPI369 | Long             | DBT              | NUSS              | DO        |    150000 | PA      | $156975.00    | 0.01%             | 2036-06-01      | Fixed         | 6.60%                 | No            |                  2 | On Loan: No      |
| CHARLES RIVER LABORATORI                                         | Charles River Laboratories International Inc                                                                                 | CUSIP: 159864AJ6<br>LEI: 549300BSQ0R4UZ5KX287 | Long             | DBT              | CORP              | US        |     75000 | PA      | $69852.11     | 0.00%             | 2031-03-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| MHC Commercial Mortgage Trust                                    | MHC Trust 2021-MHC2                                                                                                          | CUSIP: 55293AAQ0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     80000 | PA      | $80074.99     | 0.00%             | 2038-05-15      | Floating      | 6.66%                 | No            |                  2 | On Loan: No      |
| BX Trust                                                         | BX Commercial Mortgage Trust 2024-KING                                                                                       | CUSIP: 05612RAJ8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    345452 | PA      | $346963.34    | 0.02%             | 2034-05-15      | Floating      | 7.84%                 | No            |                  2 | On Loan: No      |
| STANDARD BUILDING SOLUTI                                         | Standard Building Solutions Inc                                                                                              | CUSIP: 853191AA2<br>LEI: 54930064UHXCIUWVI755 | Long             | DBT              | CORP              | US        |    150000 | PA      | $153903.15    | 0.01%             | 2032-08-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| CEMEX SAB DE CV                                                  | Cemex SAB de CV                                                                                                              | CUSIP: 151290CA9<br>LEI: 549300RIG2CXWN6IV731 | Long             | DBT              | CORP              | MX        |    350000 | PA      | $348545.61    | 0.02%             | 2026-06-08      | Fixed         | 5.13%                 | No            |                  2 | On Loan: No      |
| BAUSCH HEALTH COS INC                                            | Bausch Health Cos Inc                                                                                                        | CUSIP: 071734AN7<br>LEI: B3BS7ACMDUWISF18KY76 | Long             | DBT              | CORP              | CA        |    250000 | PA      | $223750.00    | 0.01%             | 2028-06-01      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| DP WORLD LTD UAE                                                 | DP World Ltd/United Arab Emirates                                                                                            | CUSIP: 23330JAB7<br>LEI: 549300M3U2DNF4QVSS04 | Long             | DBT              | CORP              | AE        |    100000 | PA      | $98397.53     | 0.00%             | 2048-09-25      | Fixed         | 5.63%                 | No            |                  2 | On Loan: No      |
| Waterbridge Midstream Operating LLC                              | Waterbridge Midstream Operating LLC 2024 Term Loan B                                                                         | CUSIP: 94120YAD5<br>LEI: 549300DVU86VSP486341 | Long             | LON              | CORP              | US        |     64786 | PA      | $64821.42     | 0.00%             | 2029-05-10      | Floating      | 8.17%                 | No            |                  2 | On Loan: No      |
| Kingpin Intermediate Holdings LLC                                | KINGPIN INTERMEDIATE HOLD LLC 2025 TERM LOAN B                                                                               | CUSIP: 49579GAJ1<br>LEI: 549300HRZOJTMNZCST05 | Long             | LON              | CORP              | US        |    175000 | PA      | $169860.25    | 0.01%             | 2032-09-22      | Floating      | 7.39%                 | No            |                  2 | On Loan: No      |
| HOWARD MIDSTREAM ENERGY                                          | Howard Midstream Energy Partners LLC                                                                                         | CUSIP: 442722AD6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     70000 | PA      | $71370.28     | 0.00%             | 2034-01-15      | Fixed         | 6.63%                 | No            |                  2 | On Loan: No      |
| FIRST QUANTUM MINERALS L                                         | First Quantum Minerals Ltd                                                                                                   | CUSIP: 335934AW5<br>LEI: 549300I7UVBGWRYMYZ18 | Long             | DBT              | CORP              | CA        |    215000 | PA      | $227009.23    | 0.01%             | 2033-03-01      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| TRAVEL + LEISURE CO                                              | Travel + Leisure Co                                                                                                          | CUSIP: 894164AC6<br>LEI: T4VNTWMFQ7JQB65L7T35 | Long             | DBT              | CORP              | US        |     65000 | PA      | $64801.76     | 0.00%             | 2033-09-01      | Fixed         | 6.13%                 | No            |                  2 | On Loan: No      |
| JETBLUE AIRWAYS/LOYALTY                                          | JetBlue Airways Corp / JetBlue Loyalty LP                                                                                    | CUSIP: 476920AA1<br>LEI: N/A                  | Long             | DBT              | CORP              | XX        |    205000 | PA      | $207925.76    | 0.01%             | 2031-09-20      | Fixed         | 9.88%                 | No            |                  2 | On Loan: No      |
| WEC US Holdings Ltd                                              | WEC US Holdings Ltd 2024 Term Loan                                                                                           | CUSIP: 92943LAC4<br>LEI: 5493002M6GRSU1IWMG57 | Long             | LON              | CORP              | US        |    498741 | PA      | $498875.21    | 0.02%             | 2031-01-27      | Floating      | 6.53%                 | No            |                  2 | On Loan: No      |
| CSC Holdings LLC                                                 | CSC Holdings LLC                                                                                                             | CUSIP: 126307AS6<br>LEI: 3HG2WD2W22M120IUNG49 | Long             | DBT              | CORP              | US        |    400000 | PA      | $350673.84    | 0.02%             | 2028-02-01      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| WELLS FARGO & COMPANY                                            | Wells Fargo & Co                                                                                                             | CUSIP: 95000U3H4<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | DBT              | CORP              | US        |   5790000 | PA      | $6433226.79   | 0.29%             | 2034-10-23      | Fixed         | 6.49%                 | No            |                  2 | On Loan: No      |
| WASH MULTIFAMILY PARENT INC                                      | WASH MULTIFAMILY PARENT INC TERM LOAN B                                                                                      | CUSIP: 93710RAB2<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    110000 | PA      | $110366.30    | 0.01%             | 2032-09-10      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| CPI PROPERTY GROUP SA                                            | CPI Property Group SA                                                                                                        | CUSIP: 000000000<br>LEI: 222100CO2ZOTEPGJO223 | Long             | DBT              | CORP              | LU        |    205000 | PA      | $245800.35    | 0.01%             | 2032-01-27      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| VISTAJET MALTA/VM HOLDS                                          | VistaJet Malta Finance PLC / Vista Management Holding Inc                                                                    | CUSIP: 92840JAD1<br>LEI: N/A                  | Long             | DBT              | CORP              | XX        |    200000 | PA      | $203118.60    | 0.01%             | 2027-05-01      | Fixed         | 7.88%                 | No            |                  2 | On Loan: No      |
| BCPE EMPIRE HOLDINGS INC                                         | BCPE Empire Holdings Inc 2025 Term Loan B                                                                                    | CUSIP: 05550HAQ8<br>LEI: 549300O2G0VI2955B626 | Long             | LON              | CORP              | US        |    497494 | PA      | $496483.83    | 0.02%             | 2030-12-11      | Floating      | 7.41%                 | No            |                  2 | On Loan: No      |
| SCIL IV LLC / SCIL USA H                                         | SCIL IV LLC / SCIL USA Holdings LLC                                                                                          | CUSIP: 78397UAA8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    150000 | PA      | $149879.01    | 0.01%             | 2026-11-01      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| P3 GROUP SARL                                                    | P3 Group Sarl                                                                                                                | CUSIP: 000000000<br>LEI: 529900GR62MT0O5VW110 | Long             | DBT              | CORP              | LU        |    175000 | PA      | $208898.98    | 0.01%             | 2032-04-19      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Merit                                                            | MHP Commercial Mortgage Trust 2025-MHIL2                                                                                     | CUSIP: 59317DAJ4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    100000 | PA      | $100062.68    | 0.00%             | 2040-09-15      | Floating      | 7.65%                 | No            |                  2 | On Loan: No      |
| VEOLIA ENVIRONNEMENT SA                                          | Veolia Environnement SA                                                                                                      | CUSIP: 000000000<br>LEI: 969500LENY69X51OOT31 | Long             | DBT              | CORP              | FR        |    300000 | PA      | $352412.89    | 0.02%             | 2032-06-17      | Fixed         | 3.32%                 | No            |                  2 | On Loan: No      |
| SCHAEFFLER AG                                                    | SCHAEFFLER AG                                                                                                                | CUSIP: 000000000<br>LEI: 549300Q7E782X7GC1P43 | Long             | DBT              | CORP              | DE        |    200000 | PA      | $245871.42    | 0.01%             | 2031-04-01      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| 19th Holdings Golf LLC                                           | 19th Holdings Golf LLC 2022 Term Loan B                                                                                      | CUSIP: 68250XAB7<br>LEI: 549300INS30LLUJP0S18 | Long             | LON              | CORP              | US        |    497429 | PA      | $495096.36    | 0.02%             | 2029-02-07      | Floating      | 7.57%                 | No            |                  2 | On Loan: No      |
| Peace Park CLO, Ltd.                                             | Peace Park CLO Ltd                                                                                                           | CUSIP: 70470MAQ8<br>LEI: 549300XHXTUZ93V6SK42 | Long             | ABS-CBDO         | CORP              | KY        |   8656000 | PA      | $8681535.20   | 0.40%             | 2038-10-20      | Floating      | 5.41%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                       | Fannie Mae Pool                                                                                                              | CUSIP: 31418CJA3<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    582720 | PA      | $525251.45    | 0.02%             | 2047-04-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                      | Freddie Mac Pool                                                                                                             | CUSIP: 3133KNLC5<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    299777 | PA      | $256358.14    | 0.01%             | 2052-01-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| WELLS FARGO & COMPANY                                            | Wells Fargo & Co                                                                                                             | CUSIP: 95000U2G7<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | DBT              | CORP              | US        |   9110000 | PA      | $8625362.39   | 0.40%             | 2030-10-30      | Fixed         | 2.88%                 | No            |                  2 | On Loan: No      |
| LEVEL 3 FINANCING INC                                            | Level 3 Financing Inc                                                                                                        | CUSIP: 527298CB7<br>LEI: 254900AE5FEFIJOXWL19 | Long             | DBT              | CORP              | US        |     75000 | PA      | $70507.50     | 0.00%             | 2029-06-15      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| BFLD Trust                                                       | BFLD Commercial Mortgage Trust 2024-UNIV                                                                                     | CUSIP: 08861RAJ0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    100000 | PA      | $100528.17    | 0.00%             | 2041-11-15      | Floating      | 7.79%                 | No            |                  2 | On Loan: No      |
| BLOCK INC                                                        | Block Inc                                                                                                                    | CUSIP: 852234AU7<br>LEI: 549300OHIIUWSTIZME52 | Long             | DBT              | CORP              | US        |    100000 | PA      | $102404.00    | 0.00%             | 2033-08-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| BAPCO ENERGIES BSCC                                              | Bapco Energies BSC Closed                                                                                                    | CUSIP: 67778M2A7<br>LEI: 549300OBH16L6TS6IW50 | Long             | DBT              | CORP              | BH        |    150000 | PA      | $155620.50    | 0.01%             | 2027-10-25      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| CACI INTERNATIONAL INC                                           | CACI International Inc                                                                                                       | CUSIP: 127190AE6<br>LEI: SYRPI2D1O9WRTS2WX210 | Long             | DBT              | CORP              | US        |    240000 | PA      | $247572.16    | 0.01%             | 2033-06-15      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| SEPLAT ENERGY PLC                                                | SEPLAT Energy PLC                                                                                                            | CUSIP: 81733MAA3<br>LEI: 029200711C4S4CB2E982 | Long             | DBT              | CORP              | NG        |    250000 | PA      | $256937.50    | 0.01%             | 2030-03-21      | Fixed         | 9.13%                 | No            |                  2 | On Loan: No      |
| ENEL FINANCE INTL NV                                             | Enel Finance International NV                                                                                                | CUSIP: 29278GBE7<br>LEI: 0YQH6LCEF474UTUV4B96 | Long             | DBT              | CORP              | NL        |    215000 | PA      | $222598.82    | 0.01%             | 2034-06-26      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| ENDEAVOUR MINING PLC                                             | Endeavour Mining PLC                                                                                                         | CUSIP: 29261HAB1<br>LEI: 529900NI5MXQ91GHXR07 | Long             | DBT              | CORP              | GB        |    200000 | PA      | $206420.34    | 0.01%             | 2030-05-28      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF ARMENIA                                              | Republic of Armenia International Bond                                                                                       | CUSIP: 042207AE0<br>LEI: 5299000H77JSW90G7935 | Long             | DBT              | NUSS              | AM        |    250000 | PA      | $255250.97    | 0.01%             | 2035-03-12      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| MILLROSE PROPERTIES INC                                          | Millrose Properties Inc                                                                                                      | CUSIP: 601137AB8<br>LEI: N/A                  | Long             | DBT              |  | US        |     70000 | PA      | $70182.95     | 0.00%             | 2032-09-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| BRAND INDUSTRIAL SERVICE                                         | Brand Industrial Services Inc                                                                                                | CUSIP: 104931AA8<br>LEI: 549300B658W2BPDQMW42 | Long             | DBT              | CORP              | US        |    700000 | PA      | $697769.03    | 0.03%             | 2030-08-01      | Fixed         | 10.38%                | No            |                  2 | On Loan: No      |
| COMMERCIAL METALS CO                                             | Commercial Metals Co                                                                                                         | CUSIP: 201723AQ6<br>LEI: 549300OQS2LO07ZJ7N73 | Long             | DBT              | CORP              | US        |     70000 | PA      | $67157.06     | 0.00%             | 2030-01-15      | Fixed         | 4.13%                 | No            |                  2 | On Loan: No      |
| VAN POOL TRANSPORTATION LLC                                      | Van Pool Transportation LLC 2025 Term Loan                                                                                   | CUSIP: 07363PAB6<br>LEI: 254900EBTYFG24UQEM31 | Long             | LON              | CORP              | US        |     83554 | PA      | $83763.11     | 0.00%             | 2030-08-06      | Floating      | 7.25%                 | No            |                  2 | On Loan: No      |
| CIENA CORPORATION                                                | Ciena Corporation 2025 Repriced Term Loan B                                                                                  | CUSIP: 17178HAR3<br>LEI: W0CZ7N0GH8UIGXDM1H41 | Long             | LON              | CORP              | US        |    249372 | PA      | $249529.12    | 0.01%             | 2030-10-24      | Floating      | 5.89%                 | No            |                  2 | On Loan: No      |
| Magnetite CLO Ltd                                                | Magnetite XXXVI Ltd                                                                                                          | CUSIP: 559922AL3<br>LEI: 549300M0875JBMUL0W79 | Long             | ABS-CBDO         | CORP              | KY        |   1270000 | PA      | $1274474.21   | 0.06%             | 2038-07-25      | Floating      | 5.64%                 | No            |                  2 | On Loan: No      |
| MARS INC                                                         | Mars Inc                                                                                                                     | CUSIP: 571676BB0<br>LEI: 54930073HKEO6GZBSS03 | Long             | DBT              | CORP              | US        |   1900000 | PA      | $1927409.74   | 0.09%             | 2045-05-01      | Fixed         | 5.65%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                       | Fannie Mae Pool                                                                                                              | CUSIP: 3140Y6YQ7<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   2025386 | PA      | $2108012.08   | 0.10%             | 2055-07-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| CARNIVAL CORP                                                    | Carnival Corp                                                                                                                | CUSIP: 143658BX9<br>LEI: F1OF2ZSX47CR0BCWA982 | Long             | DBT              | CORP              | PA        |    150000 | PA      | $153755.40    | 0.01%             | 2033-02-15      | Fixed         | 6.13%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                       | Fannie Mae Pool                                                                                                              | CUSIP: 3140XQD87<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   2513540 | PA      | $2652060.36   | 0.12%             | 2054-06-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Charter NEX US, Inc.                                             | Charter NEX US Inc 2024 Term Loan B1                                                                                         | CUSIP: 16125TAM4<br>LEI: 549300KRNU8RNVGYXG75 | Long             | LON              | CORP              | US        |    498695 | PA      | $500055.95    | 0.02%             | 2030-11-29      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| SAKS GLOBAL ENTERPRS LLC                                         | Saks Global Enterprises LLC                                                                                                  | CUSIP: 79380MAB1<br>LEI: 5493007HQSJGRH78Q684 | Long             | DBT              | CORP              | US        |    260090 | PA      | $131182.89    | 0.01%             | 2029-12-15      | Fixed         | 11.00%                | No            |                  2 | On Loan: No      |
| Hilton USA Trust                                                 | Hilton USA Trust 2016-HHV                                                                                                    | CUSIP: 43300LAQ3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    350000 | PA      | $340087.44    | 0.02%             | 2038-11-05      | Variable      | 4.33%                 | No            |                  2 | On Loan: No      |
| STANDARD BUILDING SOLUTI                                         | Standard Building Solutions Inc                                                                                              | CUSIP: 853191AC8<br>LEI: 54930064UHXCIUWVI755 | Long             | DBT              | CORP              | US        |    285000 | PA      | $288814.77    | 0.01%             | 2033-08-01      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| Organon & Co                                                     | Organon & Co 2024 USD Term Loan                                                                                              | CUSIP: 68621XAG8<br>LEI: 549300AMCKY57OK2CO56 | Long             | LON              | CORP              | US        |    500000 | PA      | $486875.00    | 0.02%             | 2031-05-19      | Floating      | 6.41%                 | No            |                  2 | On Loan: No      |
| GRAHAM PACKAGING/GPC CAP                                         | Graham Packaging Co Inc                                                                                                      | CUSIP: 384701AA6<br>LEI: 549300YS0ZFT826HIK72 | Long             | DBT              | CORP              | US        |     80000 | PA      | $80142.16     | 0.00%             | 2028-08-15      | Fixed         | 7.13%                 | No            |                  2 | On Loan: No      |
| AVIS BUDGET CAR RENTAL LLC                                       | Avis Budget Car Rental LLC 2025 Term Loan B                                                                                  | CUSIP: 05377JAU6<br>LEI: XN8R4HH1TVC1XOCL5P21 | Long             | LON              | CORP              | US        |    109725 | PA      | $108718.82    | 0.00%             | 2032-07-16      | Floating      | 6.66%                 | No            |                  2 | On Loan: No      |
| BLOCK INC                                                        | Block Inc                                                                                                                    | CUSIP: 852234AS2<br>LEI: 549300OHIIUWSTIZME52 | Long             | DBT              | CORP              | US        |    350000 | PA      | $362252.10    | 0.02%             | 2032-05-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF EL SALVADOR                                          | El Salvador Government International Bond                                                                                    | CUSIP: 283875CG5<br>LEI: 529900AKDMUSFSDOM949 | Long             | DBT              | NUSS              | SV        |    200000 | PA      | $216000.00    | 0.01%             | 2054-11-21      | Fixed         | 9.65%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                         | Ginnie Mae                                                                                                                   | CUSIP: 21H0206A8<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |  25425000 | PA      | $21010949.48  | 0.96%             | 2055-10-20      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                       | Fannie Mae REMICS                                                                                                            | CUSIP: 3136BQPR4<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   2459163 | PA      | $2478327.98   | 0.11%             | 2053-11-25      | Floating      | 5.91%                 | No            |                  2 | On Loan: No      |
| COGENT COMMS GRP / FIN                                           | Cogent Communications Group LLC / Cogent Finance Inc                                                                         | CUSIP: 19240WAA7<br>LEI: 549300KFWFYF8Q1U0Y26 | Long             | DBT              | CORP              | US        |    345000 | PA      | $344081.85    | 0.02%             | 2027-06-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                      | Freddie Mac Pool                                                                                                             | CUSIP: 3132DNMY6<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   1036031 | PA      | $1013448.69   | 0.05%             | 2052-07-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| CONSOLIDATED ENERGY FIN                                          | Consolidated Energy Finance SA                                                                                               | CUSIP: 20914UAH9<br>LEI: 549300PUNIS0USNSL750 | Long             | DBT              | CORP              | LU        |    550000 | PA      | $503253.43    | 0.02%             | 2031-02-15      | Fixed         | 12.00%                | No            |                  2 | On Loan: No      |
| HILTON GRAND VAC LLC/INC                                         | Hilton Grand Vacations Borrower LLC / Hilton Grand Vacations Borrower Inc                                                    | CUSIP: 43283QAC4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    250000 | PA      | $253913.50    | 0.01%             | 2032-01-15      | Fixed         | 6.63%                 | No            |                  2 | On Loan: No      |
| MKS Instruments Inc                                              | MKS Instruments Inc 2025 USD Repriced Term Loan                                                                              | CUSIP: 55314NAZ7<br>LEI: 549300KEQATBHAGVF505 | Long             | LON              | CORP              | US        |    458266 | PA      | $457789.10    | 0.02%             | 2029-08-17      | Floating      | 6.17%                 | No            |                  2 | On Loan: No      |
| EIG PEARL HOLDINGS SARL                                          | EIG Pearl Holdings Sarl                                                                                                      | CUSIP: 28249NAA9<br>LEI: 549300KIMRL45BWA5H76 | Long             | DBT              | CORP              | LU        |    245863 | PA      | $226778.45    | 0.01%             | 2036-08-31      | Fixed         | 3.55%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                       | Fannie Mae REMICS                                                                                                            | CUSIP: 3136BPDD0<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   1717795 | PA      | $1700308.03   | 0.08%             | 2052-10-25      | Floating      | 5.16%                 | No            |                  2 | On Loan: No      |
| Banc of America Commercial Mortgage Trust                        | Bank of America Merrill Lynch Commercial Mortgage Trust 2016-UBS10                                                           | CUSIP: 06054MAK9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    100000 | PA      | $97721.01     | 0.00%             | 2049-07-15      | Variable      | 4.98%                 | No            |                  2 | On Loan: No      |
| LIBERTY COSTA RICA SR SF                                         | Liberty Costa Rica Senior Secured Finance                                                                                    | CUSIP: 530371AA1<br>LEI: 549300W6O2PHTPCYQ751 | Long             | DBT              | CORP              | KY        |    200000 | PA      | $213454.00    | 0.01%             | 2031-01-15      | Fixed         | 10.88%                | No            |                  2 | On Loan: No      |
| Wells Fargo Commercial Mortgage Trust                            | Wells Fargo Commercial Mortgage Trust 2025-5C4                                                                               | CUSIP: 949931AE9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |  10000000 | PA      | $234168.00    | 0.01%             | 2058-05-15      | Variable      | 0.74%                 | No            |                  2 | On Loan: No      |
| VERIZON COMMUNICATIONS                                           | Verizon Communications Inc                                                                                                   | CUSIP: 92343VGZ1<br>LEI: 2S72QS2UO2OESLG6Y829 | Long             | DBT              | CORP              | US        |   1830000 | PA      | $1860952.31   | 0.09%             | 2035-04-02      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| LFS TOPCO LLC                                                    | LFS Topco LLC                                                                                                                | CUSIP: 50203TAB2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    235000 | PA      | $236058.79    | 0.01%             | 2030-07-15      | Fixed         | 8.75%                 | No            |                  2 | On Loan: No      |
| MEDCO MAPLE TREE PTE LTD                                         | Medco Maple Tree Pte Ltd                                                                                                     | CUSIP: 58407HAA7<br>LEI: 254900T5AQZNR0THA508 | Long             | DBT              | CORP              | SG        |    250000 | PA      | $260667.50    | 0.01%             | 2029-04-27      | Fixed         | 8.96%                 | No            |                  2 | On Loan: No      |
| Waterbridge Midstream Operating LLC                              | Waterbridge Midstream Operating LLC 2024 1st Lien Term Loan B                                                                | CUSIP: 94120XAF2<br>LEI: 549300DVU86VSP486341 | Long             | LON              | CORP              | US        |    498744 | PA      | $498868.41    | 0.02%             | 2029-06-27      | Floating      | 9.03%                 | No            |                  2 | On Loan: No      |
| BARCLAYS PLC                                                     | Barclays PLC                                                                                                                 | CUSIP: 000000000<br>LEI: 213800LBQA1Y9L22JB70 | Long             | DBT              | CORP              | GB        |    250000 | PA      | $296777.75    | 0.01%             | 2031-08-14      | Fixed         | 3.54%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                      | Freddie Mac Pool                                                                                                             | CUSIP: 3132DVMD4<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   6302374 | PA      | $5600252.80   | 0.26%             | 2052-08-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| SAUDI ARABIAN OIL CO                                             | Saudi Arabian Oil Co                                                                                                         | CUSIP: 80414L2Q7<br>LEI: 5586006WD91QHB7J4X50 | Long             | DBT              | CORP              | SA        |    200000 | PA      | $197000.00    | 0.01%             | 2064-07-17      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| Hess Corp                                                        | Hess Corp                                                                                                                    | CUSIP: 023551AM6<br>LEI: UASVRYNXNK17ULIGK870 | Long             | DBT              | CORP              | US        |   1910000 | PA      | $2216517.43   | 0.10%             | 2033-03-15      | Fixed         | 7.13%                 | No            |                  2 | On Loan: No      |
| HIGHTOWER HOLDING LLC                                            | Hightower Holding LLC                                                                                                        | CUSIP: 43118DAB6<br>LEI: 254900MKOSB7RTMA9K12 | Long             | DBT              | CORP              | US        |    300000 | PA      | $318187.20    | 0.01%             | 2030-01-31      | Fixed         | 9.13%                 | No            |                  2 | On Loan: No      |
| CHARLES RIVER LABORATORI                                         | Charles River Laboratories International Inc                                                                                 | CUSIP: 159864AE7<br>LEI: 549300BSQ0R4UZ5KX287 | Long             | DBT              | CORP              | US        |     70000 | PA      | $68463.65     | 0.00%             | 2028-05-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| Sedgwick Claims Management Services Inc                          | Sedgwick Claims Management Services Inc 2023 Term Loan B                                                                     | CUSIP: 81527CAP2<br>LEI: 549300BIN4DWJG5VWF64 | Long             | LON              | CORP              | US        |    498744 | PA      | $497965.68    | 0.02%             | 2031-07-31      | Floating      | 6.66%                 | No            |                  2 | On Loan: No      |
| COPT DEFENSE PROP LP                                             | COPT Defense Properties LP                                                                                                   | CUSIP: 22003BAM8<br>LEI: H0TWO5VRNEP6CQAWPX27 | Long             | DBT              |  | US        |   4950000 | PA      | $4481157.04   | 0.21%             | 2031-04-15      | Fixed         | 2.75%                 | No            |                  2 | On Loan: No      |
| HSBC HOLDINGS PLC                                                | HSBC Holdings PLC                                                                                                            | CUSIP: 000000000<br>LEI: MLU0ZO3ML4LN2LL2TL39 | Long             | DBT              | CORP              | GB        |    140000 | PA      | $207490.77    | 0.01%             | 2034-11-16      | Fixed         | 8.20%                 | No            |                  2 | On Loan: No      |
| SEAGATE DATA STOR                                                | Seagate Data Storage Technology Pte Ltd                                                                                      | CUSIP: 81180LAA3<br>LEI: N/A                  | Long             | DBT              | CORP              | SG        |    115000 | PA      | $117002.84    | 0.01%             | 2030-07-15      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                         | Ginnie Mae                                                                                                                   | CUSIP: 21H0526A1<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |  13400000 | PA      | $13499726.55  | 0.62%             | 2054-10-20      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Wells Fargo Commercial Mortgage Trust                            | Wells Fargo Commercial Mortgage Trust 2024-1CHI                                                                              | CUSIP: 95003PAJ0<br>LEI: 54930012YCNUERXJ1I74 | Long             | ABS-MBS          | CORP              | US        |    250000 | PA      | $253851.65    | 0.01%             | 2035-07-15      | Variable      | 7.83%                 | No            |                  2 | On Loan: No      |
| CHS/COMMUNITY HEALTH SYS                                         | CHS/Community Health Systems Inc                                                                                             | CUSIP: 12543DBL3<br>LEI: 5493007X5NC5XI1BB106 | Long             | DBT              | CORP              | US        |    120000 | PA      | $87040.11     | 0.00%             | 2030-04-01      | Fixed         | 6.13%                 | No            |                  2 | On Loan: No      |
| HESS MIDSTREAM OPERATION                                         | Hess Midstream Operations LP                                                                                                 | CUSIP: 428104AA1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    300000 | PA      | $299661.09    | 0.01%             | 2028-06-15      | Fixed         | 5.13%                 | No            |                  2 | On Loan: No      |
| Verus Securitization Trust                                       | Verus Securitization Trust 2025-5                                                                                            | CUSIP: 92540XAA9<br>LEI: 213800Z7TIVJRAYLRV98 | Long             | ABS-MBS          | CORP              | US        |   1929479 | PA      | $1945195.71   | 0.09%             | 2070-06-25      | Variable      | 5.43%                 | No            |                  2 | On Loan: No      |
| Newell Brands Inc                                                | Newell Brands Inc                                                                                                            | CUSIP: 651229AY2<br>LEI: 549300LWGYFM1TVO1Z12 | Long             | DBT              | CORP              | US        |    100000 | PA      | $88119.72     | 0.00%             | 2046-04-01      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| CLARIOS GLOBAL LP/US FIN                                         | Clarios Global LP / Clarios US Finance Co                                                                                    | CUSIP: 18060TAE5<br>LEI: N/A                  | Long             | DBT              | CORP              | XX        |    205000 | PA      | $209542.80    | 0.01%             | 2032-09-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| BCRED BSL Static CLO Ltd                                         | BCRED BSL Static CLO 2025-1 Ltd                                                                                              | CUSIP: 05556KAA0<br>LEI: 2549001IQYV4NQDSNA79 | Long             | ABS-CBDO         | CORP              | KY        |   1304000 | PA      | $1301288.98   | 0.06%             | 2035-07-24      | Floating      | 5.54%                 | No            |                  2 | On Loan: No      |
| VISTRA OPERATIONS CO LLC                                         | Vistra Operations Co LLC                                                                                                     | CUSIP: 92840VAB8<br>LEI: 549300ZH5GKBTJZ7NM23 | Long             | DBT              | CORP              | US        |    250000 | PA      | $250147.93    | 0.01%             | 2027-02-15      | Fixed         | 5.63%                 | No            |                  2 | On Loan: No      |
| BNP PARIBAS                                                      | BNP Paribas SA                                                                                                               | CUSIP: 09659W3A0<br>LEI: R0MUWSFPU8MPRO8K5P83 | Long             | DBT              | CORP              | FR        |   3491000 | PA      | $3663890.20   | 0.17%             | 2033-01-13      | Fixed         | 5.79%                 | No            |                  2 | On Loan: No      |
| IHG FINANCE LLC                                                  | IHG Finance LLC                                                                                                              | CUSIP: 000000000<br>LEI: 213800DXTXQ1YC8UP313 | Long             | DBT              | CORP              | US        |    100000 | PA      | $117635.86    | 0.01%             | 2030-09-10      | Fixed         | 3.38%                 | No            |                  2 | On Loan: No      |
| COMMONWEALTH BANK AUST                                           | Commonwealth Bank of Australia                                                                                               | CUSIP: 000000000<br>LEI: MSFSBD3QN1GSN7Q6C537 | Long             | DBT              | CORP              | AU        |    100000 | PA      | $117748.59    | 0.01%             | 2037-08-26      | Fixed         | 3.79%                 | No            |                  2 | On Loan: No      |
| GRIFOLS SA                                                       | Grifols SA                                                                                                                   | CUSIP: 39843UAA0<br>LEI: 959800HSSNXWRKBK4N60 | Long             | DBT              | CORP              | ES        |    100000 | PA      | $97136.21     | 0.00%             | 2028-10-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| AZZ Inc                                                          | AZZ Inc Term Loan B                                                                                                          | CUSIP: 00247NAG7<br>LEI: 549300HD1X2NFLWPYC83 | Long             | LON              | CORP              | US        |     60000 | PA      | $60175.20     | 0.00%             | 2029-05-13      | Floating      | 5.91%                 | No            |                  2 | On Loan: No      |
| VICI PROPERTIES / NOTE                                           | VICI Properties LP / VICI Note Co Inc                                                                                        | CUSIP: 92564RAJ4<br>LEI: N/A                  | Long             | DBT              |  | US        |    265000 | PA      | $268307.27    | 0.01%             | 2027-02-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                      | Freddie Mac Pool                                                                                                             | CUSIP: 3132DM7D1<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     26103 | PA      | $21439.94     | 0.00%             | 2052-01-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| UMBS, TBA                                                        | Uniform Mortgage-Backed Security, TBA                                                                                        | CUSIP: 01F0506A9<br>LEI: N/A                  | Short            | ABS-MBS          | USGSE             | US        |  -4500000 | PA      | $-4462457.22  | -0.20%            | 2055-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ENGIE SA                                                         | Engie SA                                                                                                                     | CUSIP: 000000000<br>LEI: LAXUQCHT4FH58LRZDY46 | Long             | DBT              | CORP              | FR        |    200000 | PA      | $244598.85    | 0.01%             | 2034-09-06      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| NTT FINANCE CORP                                                 | NTT Finance Corp                                                                                                             | CUSIP: 000000000<br>LEI: 3538007PR116187GD960 | Long             | DBT              | CORP              | JP        |    100000 | PA      | $119189.33    | 0.01%             | 2033-07-16      | Fixed         | 3.68%                 | No            |                  2 | On Loan: No      |
| ALBERTSONS COS/SAFEWAY                                           | Albertsons Cos Inc / Safeway Inc / New Albertsons LP / Albertsons LLC                                                        | CUSIP: 01309QAB4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    150000 | PA      | $153405.00    | 0.01%             | 2033-03-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                      | Freddie Mac REMICS                                                                                                           | CUSIP: 3137H6UX1<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    375192 | PA      | $348228.36    | 0.02%             | 2050-08-25      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Petroleos Mexicanos                                              | Petroleos Mexicanos                                                                                                          | CUSIP: 71654QDE9<br>LEI: 549300CAZKPF4HKMPX17 | Long             | DBT              | CORP              | MX        |   9320000 | PA      | $9027441.47   | 0.41%             | 2031-01-28      | Fixed         | 5.95%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF PARAGUAY                                             | Paraguay Government International Bond                                                                                       | CUSIP: 699149AK6<br>LEI: 529900UXKJTJPCU0HK83 | Long             | DBT              | NUSS              | PY        |    200000 | PA      | $176558.00    | 0.01%             | 2033-01-29      | Fixed         | 2.74%                 | No            |                  2 | On Loan: No      |
| CIFC Funding Ltd                                                 | CIFC Funding 2025-VI Ltd                                                                                                     | CUSIP: 171933AA2<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    820000 | PA      | $820357.52    | 0.04%             | 2038-10-23      | Floating      | 0.00%                 | No            |                  2 | On Loan: No      |
| EDISON INTERNATIONAL                                             | Edison International                                                                                                         | CUSIP: 281020AT4<br>LEI: 549300I7ROF15MAEVP56 | Long             | DBT              | CORP              | US        |     75000 | PA      | $71061.55     | 0.00%             | 2026-12-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Primo Brands Corporation                                         | Primo Brands Corporation 2025 Term Loan B                                                                                    | CUSIP: 89678QAD8<br>LEI: 254900J0WS4AXV2LAX55 | Long             | LON              | CORP              | US        |    497494 | PA      | $497225.09    | 0.02%             | 2028-03-31      | Floating      | 6.25%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA RESOURCES CRP                                         | California Resources Corp                                                                                                    | CUSIP: 13057QAK3<br>LEI: 5493003Q8F0T4F4YMR48 | Long             | DBT              | CORP              | US        |    344000 | PA      | $358738.68    | 0.02%             | 2029-06-15      | Fixed         | 8.25%                 | No            |                  2 | On Loan: No      |
| ALTICE FRANCE HOLDING SA                                         | Altice France Holding SA                                                                                                     | CUSIP: 02156TAA2<br>LEI: 5299000JVHXKJPOE6H40 | Long             | DBT              | CORP              | LU        |    330000 | PA      | $117048.25    | 0.01%             | 2028-02-15      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Orion US Finco Inc.                                              | Orion US Finco Inc 1st Lien Term Loan                                                                                        | CUSIP: 68631KAB5<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    100000 | PA      | $100500.00    | 0.00%             | 2032-05-20      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| TENET HEALTHCARE CORP                                            | Tenet Healthcare Corp                                                                                                        | CUSIP: 88033GDK3<br>LEI: 0W9AIBT6U6ADJ2I8HK17 | Long             | DBT              | CORP              | US        |    350000 | PA      | $350202.64    | 0.02%             | 2028-10-01      | Fixed         | 6.13%                 | No            |                  2 | On Loan: No      |
| Asurion LLC                                                      | Asurion LLC 2021 Term Loan B9                                                                                                | CUSIP: 04649VAY6<br>LEI: 549300KNQVXGIOXWK278 | Long             | LON              | CORP              | US        |    174544 | PA      | $174437.80    | 0.01%             | 2027-07-31      | Floating      | 7.53%                 | No            |                  2 | On Loan: No      |
| Taco Bell Funding, LLC                                           | Taco Bell Funding LLC                                                                                                        | CUSIP: 87342RAK0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1780000 | PA      | $1783718.42   | 0.08%             | 2055-08-25      | Fixed         | 4.82%                 | No            |                  2 | On Loan: No      |
| CoreCivic Inc                                                    | CoreCivic Inc                                                                                                                | CUSIP: 21871NAA9<br>LEI: 529900JFA3K6PTLT8B15 | Long             | DBT              | CORP              | US        |    350000 | PA      | $344928.85    | 0.02%             | 2027-10-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| CENT Trust                                                       | CENT 2025-CITY                                                                                                               | CUSIP: 12517TAC1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |  10300000 | PA      | $74903.66     | 0.00%             | 2040-07-10      | Fixed         | 0.21%                 | No            |                  2 | On Loan: No      |
| HANGER INC                                                       | Hanger Inc 2024 Delayed Draw Term Loan                                                                                       | CUSIP: 41043BAJ7<br>LEI: 254900ZJJJYVLHJXSZ60 | Long             | LON              | CORP              | US        |     28506 | PA      | $28549.18     | 0.00%             | 2031-10-23      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| VERTIV GROUP CORPORATION                                         | Vertiv Group Corporation 2025 Term Loan                                                                                      | CUSIP: 92537EAG3<br>LEI: 549300ZT8RQ5VK10E643 | Long             | LON              | CORP              | US        |    498744 | PA      | $499207.55    | 0.02%             | 2032-08-12      | Floating      | 6.03%                 | No            |                  2 | On Loan: No      |
| MINERAL RESOURCES LTD                                            | Mineral Resources Ltd                                                                                                        | CUSIP: 603051AE3<br>LEI: 5299007V1ACKFFX2P066 | Long             | DBT              | CORP              | AU        |    100000 | PA      | $104780.90    | 0.00%             | 2028-10-01      | Fixed         | 9.25%                 | No            |                  2 | On Loan: No      |
| BFLD Trust                                                       | BFLD 2024-WRHS Mortgage Trust                                                                                                | CUSIP: 05555HAN0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    185399 | PA      | $184936.12    | 0.01%             | 2026-08-15      | Floating      | 7.84%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                      | Freddie Mac Pool                                                                                                             | CUSIP: 3133B0SH7<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   7859580 | PA      | $6751155.65   | 0.31%             | 2051-12-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                         | Ginnie Mae II Pool                                                                                                           | CUSIP: 36179XDC7<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   1553693 | PA      | $1422066.99   | 0.07%             | 2052-08-20      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| TOPBUILD CORP                                                    | TopBuild Corp                                                                                                                | CUSIP: 89055FAD5<br>LEI: 5493007YSKHOL4RWII46 | Long             | DBT              | CORP              | US        |    210000 | PA      | $209236.62    | 0.01%             | 2034-01-31      | Fixed         | 5.63%                 | No            |                  2 | On Loan: No      |
| TELUS CORP                                                       | TELUS Corp                                                                                                                   | CUSIP: 87971MCL5<br>LEI: 894500WE70KKZRQMBU11 | Long             | DBT              | CORP              | CA        |    133000 | PA      | $136924.86    | 0.01%             | 2055-10-15      | Fixed         | 6.63%                 | No            |                  2 | On Loan: No      |
| DANSKE BANK A/S                                                  | Danske Bank A/S                                                                                                              | CUSIP: 000000000<br>LEI: MAES062Z21O4RZ2U7M96 | Long             | DBT              | CORP              | DK        |    415000 | PA      | $503075.57    | 0.02%             | 2032-01-09      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| DAVITA INC                                                       | DaVita Inc                                                                                                                   | CUSIP: 23918KAS7<br>LEI: M2XHYMU3TZNEZURC6H66 | Long             | DBT              | CORP              | US        |    450000 | PA      | $431275.00    | 0.02%             | 2030-06-01      | Fixed         | 4.63%                 | No            |                  2 | On Loan: No      |
| Arab Republic of Egypt                                           | Egypt Government International Bond                                                                                          | CUSIP: 03846JW89<br>LEI: 529900GFIVH4086NMH82 | Long             | DBT              | NUSS              | EG        |    300000 | PA      | $266294.88    | 0.01%             | 2049-03-01      | Fixed         | 8.70%                 | No            |                  2 | On Loan: No      |
| Turkiye Government International Bonds                           | Turkiye Government International Bonds                                                                                       | CUSIP: 900123CM0<br>LEI: 5493000PCHOG3B6S3Q85 | Long             | DBT              | NUSS              | TR        |    100000 | PA      | $79315.45     | 0.00%             | 2047-05-11      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| SOLSTICE ADVANCED MATERI                                         | Solstice Advanced Materials Inc                                                                                              | CUSIP: 83443QAA1<br>LEI: 2138004GZ4H9TW6HK435 | Long             | DBT              | CORP              | US        |    205000 | PA      | $205677.29    | 0.01%             | 2033-09-30      | Fixed         | 5.63%                 | No            |                  2 | On Loan: No      |
| SNAP INC                                                         | Snap Inc                                                                                                                     | CUSIP: 83304AAL0<br>LEI: 549300JNC0L6VP8A2Q35 | Long             | DBT              | CORP              | US        |    150000 | PA      | $153314.80    | 0.01%             | 2033-03-01      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| NEXA RESOURCES SA                                                | Nexa Resources SA                                                                                                            | CUSIP: 65290DAB9<br>LEI: 549300QRMRHM7GAU7L47 | Long             | DBT              | CORP              | LU        |    200000 | PA      | $212392.35    | 0.01%             | 2034-04-09      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| CVS HEALTH CORP                                                  | CVS Health Corp                                                                                                              | CUSIP: 126650DG2<br>LEI: 549300EJG376EN5NQE29 | Long             | DBT              | CORP              | US        |   5640000 | PA      | $5406771.34   | 0.25%             | 2029-08-15      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| COMMERZBANK AG                                                   | Commerzbank AG                                                                                                               | CUSIP: 000000000<br>LEI: 851WYGNLUQLFZBSYGB56 | Long             | DBT              | CORP              | DE        |    100000 | PA      | $144403.74    | 0.01%             | 2033-02-28      | Fixed         | 8.63%                 | No            |                  2 | On Loan: No      |
| POST HOLDINGS INC                                                | Post Holdings Inc                                                                                                            | CUSIP: 737446AP9<br>LEI: JM1I5YUAURL6DC8N1468 | Long             | DBT              | CORP              | US        |    300000 | PA      | $298802.46    | 0.01%             | 2029-12-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| BX Trust                                                         | BX Commercial Mortgage Trust 2024-XL4                                                                                        | CUSIP: 05611VAG6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    102084 | PA      | $102402.88    | 0.00%             | 2039-02-15      | Floating      | 7.29%                 | No            |                  2 | On Loan: No      |
| Consolidated Communications LLC, Fidium Fiber Finance Holdco LLC | Consolidated Communications LLC/Fidium Fiber Finance Holdco LLC                                                              | CUSIP: 209031AA1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    173000 | PA      | $177295.04    | 0.01%             | 2055-05-20      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Sixth Street CLO LTD.                                            | Sixth Street CLO XX Ltd                                                                                                      | CUSIP: 83012QAN4<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   1030000 | PA      | $1033370.16   | 0.05%             | 2038-07-17      | Floating      | 5.58%                 | No            |                  2 | On Loan: No      |
| DB Master Finance LLC                                            | DB Master Finance LLC                                                                                                        | CUSIP: 233046AS0<br>LEI: 549300F17UZJL70BPB08 | Long             | ABS-O            | CORP              | US        |   3760488 | PA      | $3337467.25   | 0.15%             | 2051-11-20      | Fixed         | 2.79%                 | No            |                  2 | On Loan: No      |
| TALEN ENERGY SUPPLY LLC                                          | Talen Energy Supply LLC 2024-1 Incremental Term Loan                                                                         | CUSIP: 87422LAY6<br>LEI: K5K33XN0PQAU1XF7NN66 | Long             | LON              | CORP              | US        |    248747 | PA      | $248799.10    | 0.01%             | 2031-12-15      | Floating      | 6.73%                 | No            |                  2 | On Loan: No      |
| Turkiye Government International Bonds                           | Turkiye Government International Bonds                                                                                       | CUSIP: 900123DH0<br>LEI: 5493000PCHOG3B6S3Q85 | Long             | DBT              | NUSS              | TR        |    300000 | PA      | $334734.21    | 0.02%             | 2029-03-14      | Fixed         | 9.38%                 | No            |                  2 | On Loan: No      |
| TRANSOCEAN INC                                                   | Transocean International Ltd                                                                                                 | CUSIP: 893830BX6<br>LEI: DOL4HJ22ADYSIWES4H94 | Long             | DBT              | CORP              | BM        |     63750 | PA      | $67075.90     | 0.00%             | 2030-02-15      | Fixed         | 8.75%                 | No            |                  2 | On Loan: No      |
| PARK RIVER HOLDINGS INC                                          | Park River Holdings Inc                                                                                                      | CUSIP: 70082LAC1<br>LEI: 254900PGY077KWCROT75 | Long             | DBT              | CORP              | US        |     50000 | PA      | $50633.71     | 0.00%             | 2031-03-15      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| GPD COS INC                                                      | GPD Cos Inc                                                                                                                  | CUSIP: 36260VAB6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     97050 | PA      | $73800.70     | 0.00%             | 2029-12-31      | Fixed         | 12.50%                | No            |                  2 | On Loan: No      |
| FLUTTER FINANCING BV                                             | Flutter Financing BV 2025 Term Loan B                                                                                        | CUSIP: 000000000<br>LEI: 635400VFWPBIKJK6GN11 | Long             | LON              | CORP              | NL        |     64838 | PA      | $64711.72     | 0.00%             | 2032-06-04      | Floating      | 6.00%                 | No            |                  2 | On Loan: No      |
| WESTERN ALLIANCE BANCORP                                         | Western Alliance Bancorp                                                                                                     | CUSIP: 957638AD1<br>LEI: 5493003VJXZ5JXT9S762 | Long             | DBT              | CORP              | US        |    250000 | PA      | $242475.00    | 0.01%             | 2031-06-15      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| ORACLE CORP                                                      | Oracle Corp                                                                                                                  | CUSIP: 68389XDH5<br>LEI: 1Z4GXXU7ZHVWFCD8TV52 | Long             | DBT              | CORP              | US        |    669000 | PA      | $668671.76    | 0.03%             | 2030-09-26      | Fixed         | 4.45%                 | No            |                  2 | On Loan: No      |
| ANYWHERE REAL EST/CO-ISS                                         | Anywhere Real Estate Group LLC / Anywhere Co-Issuer Corp                                                                     | CUSIP: 75606DAS0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     70000 | PA      | $70840.17     | 0.00%             | 2030-04-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| Lonza Group AG                                                   | Lonza Group AG USD Term Loan B                                                                                               | CUSIP: 000000000<br>LEI: 549300Y0CIXN5D40L888 | Long             | LON              | CORP              | US        |    741504 | PA      | $667450.33    | 0.03%             | 2028-07-03      | Floating      | 8.03%                 | No            |                  2 | On Loan: No      |
| WEX INC                                                          | WEX Inc                                                                                                                      | CUSIP: 96208TAD6<br>LEI: T9M5IGROL1TL1G5OV478 | Long             | DBT              | CORP              | US        |    200000 | PA      | $204256.60    | 0.01%             | 2033-03-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| CSC HOLDINGS LLC                                                 | CSC Holdings LLC                                                                                                             | CUSIP: 126307BF3<br>LEI: 3HG2WD2W22M120IUNG49 | Long             | DBT              | CORP              | US        |    600000 | PA      | $386967.12    | 0.02%             | 2031-02-15      | Fixed         | 3.38%                 | No            |                  2 | On Loan: No      |
| PRM Trust                                                        | PRM Trust 2025-PRM6                                                                                                          | CUSIP: 74277DAJ1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    100000 | PA      | $99863.39     | 0.00%             | 2033-07-05      | Variable      | 6.80%                 | No            |                  2 | On Loan: No      |
| Extended Stay America Trust                                      | Extended Stay America Trust 2025-ESH                                                                                         | CUSIP: 30227TAC4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    445000 | PA      | $445834.20    | 0.02%             | 2042-10-15      | Floating      | 5.75%                 | No            |                  2 | On Loan: No      |
| BNP Paribas SA                                                   | Long: LFQ657000 CDS EUR R V 03MEVENT LFQ657000_PRO CORPORATE / Short: LFQ657000 CDS EUR P F  1.00000 LFQ657000_FEE CORPORATE | CUSIP: 000000000<br>LEI: R0MUWSFPU8MPRO8K5P83 | N/A              | DCR              |  | US        |    250000 | OU      | $1565.03      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Chicago Board of Trade                                           | US 10YR NOTE (CBT)DEC25                                                                                                      | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DIR              |  | US        |       870 | NC      | $464877.04    | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| CLEAN HARBORS INC                                                | Clean Harbors Inc                                                                                                            | CUSIP: 184496AQ0<br>LEI: 5493000SJVZVZJKHJF48 | Long             | DBT              | CORP              | US        |    100000 | PA      | $102403.40    | 0.00%             | 2031-02-01      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                      | Freddie Mac Pool                                                                                                             | CUSIP: 3133KYWT2<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   1983169 | PA      | $1836103.94   | 0.08%             | 2042-04-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| JPMorgan Chase Bank NA                                           | PURCHASED USD / SOLD EUR                                                                                                     | CUSIP: 000000000<br>LEI: 7H6GLXDRUGQFU57RNE97 | N/A              | DFE              |  | US        |         1 | NC      | $-709.28      | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| HESS MIDSTREAM OPERATION                                         | Hess Midstream Operations LP                                                                                                 | CUSIP: 428102AE7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     65000 | PA      | $63000.45     | 0.00%             | 2030-02-15      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| Cornerstone Building Brands Inc                                  | Cornerstone Building Brands Inc 2024 Term Loan B                                                                             | CUSIP: 72431HAE0<br>LEI: 549300IW41QEWQ6T0H29 | Long             | LON              | CORP              | US        |     49874 | PA      | $45260.71     | 0.00%             | 2031-05-15      | Floating      | 8.65%                 | No            |                  2 | On Loan: No      |
| GVC Holdings (Gibraltar) Limited                                 | GVC HOLDINGS GIBRALTAR LIMITED 2025 TERM LOAN B 2032                                                                         | CUSIP: 000000000<br>LEI: 213800ATWJIEYQ8NF838 | Long             | LON              | CORP              | GI        |     30000 | PA      | $29941.20     | 0.00%             | 2032-07-31      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| MHC Commercial Mortgage Trust                                    | MHC Commercial Mortgage Trust 2021-MHC                                                                                       | CUSIP: 55316VAA2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     37018 | PA      | $37017.90     | 0.00%             | 2038-04-15      | Floating      | 5.07%                 | No            |                  2 | On Loan: No      |
| ONESKY FLIGHT LLC                                                | OneSky Flight LLC                                                                                                            | CUSIP: 68278CAA3<br>LEI: 549300PM6NEPXGG5B882 | Long             | DBT              | CORP              | US        |    131000 | PA      | $137753.44    | 0.01%             | 2029-12-15      | Fixed         | 8.88%                 | No            |                  2 | On Loan: No      |
| DELL INT LLC / EMC CORP                                          | Dell International LLC / EMC Corp                                                                                            | CUSIP: 24703DBS9<br>LEI: 254900ZARLSVK41DKO78 | Long             | DBT              | CORP              | US        |   1760000 | PA      | $1755931.36   | 0.08%             | 2031-02-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| CCO HLDGS LLC/CAP CORP                                           | CCO Holdings LLC / CCO Holdings Capital Corp                                                                                 | CUSIP: 1248EPCK7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    485000 | PA      | $446797.18    | 0.02%             | 2031-02-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| Natixis Commercial Mortgage Securities                           | Natixis Commercial Mortgage Securities Trust 2022-RRI                                                                        | CUSIP: 63875JAJ7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     89844 | PA      | $89844.28     | 0.00%             | 2035-03-15      | Floating      | 7.25%                 | No            |                  2 | On Loan: No      |
| MHC Commercial Mortgage Trust                                    | MHC Commercial Mortgage Trust 2021-MHC                                                                                       | CUSIP: 55316VAN4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    400308 | PA      | $400808.30    | 0.02%             | 2038-04-15      | Floating      | 7.47%                 | No            |                  2 | On Loan: No      |
| Corporation Service Company                                      | Corporation Service Company Term Loan B                                                                                      | CUSIP: 22006VAL3<br>LEI: 549300NOPSIMGJNT8J31 | Long             | LON              | CORP              | US        |    480114 | PA      | $474712.35    | 0.02%             | 2029-11-02      | Floating      | 6.16%                 | No            |                  2 | On Loan: No      |
| EMRLD BOR / EMRLD CO-ISS                                         | EMRLD Borrower LP / Emerald Co-Issuer Inc                                                                                    | CUSIP: 29103CAA6<br>LEI: 98450099EE3A0ZD5F786 | Long             | DBT              | CORP              | US        |    450000 | PA      | $462577.05    | 0.02%             | 2030-12-15      | Fixed         | 6.63%                 | No            |                  2 | On Loan: No      |
| Constant Contact Inc                                             | Constant Contact Inc Term Loan                                                                                               | CUSIP: 21031HAC5<br>LEI: 2549000JW50H0AI5B946 | Long             | LON              | CORP              | US        |    748365 | PA      | $692469.21    | 0.03%             | 2028-02-10      | Floating      | 8.58%                 | No            |                  2 | On Loan: No      |
| ORGANON & CO/ORGANON FOR                                         | Organon & Co / Organon Foreign Debt Co-Issuer BV                                                                             | CUSIP: 68622FAA9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     30000 | PA      | $28766.60     | 0.00%             | 2034-05-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| AMERICAN AIRLINES INC                                            | American Airlines Inc                                                                                                        | CUSIP: 023771T40<br>LEI: IWUQB36BXD6OWD6X4T14 | Long             | DBT              | CORP              | US        |    150000 | PA      | $156472.95    | 0.01%             | 2029-05-15      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| NRG ENERGY INC                                                   | NRG Energy Inc                                                                                                               | CUSIP: 629377CQ3<br>LEI: 5E2UPK5SW04M13XY7I38 | Long             | DBT              | CORP              | US        |    250000 | PA      | $236329.45    | 0.01%             | 2029-02-15      | Fixed         | 3.38%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                      | Freddie Mac Pool                                                                                                             | CUSIP: 3133KQGP5<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   1696801 | PA      | $1759820.47   | 0.08%             | 2052-12-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| MOBICO GROUP PLC                                                 | Mobico Group PLC                                                                                                             | CUSIP: 000000000<br>LEI: 213800A8IQEMY8PA5X34 | Long             | DBT              | CORP              | GB        |    100000 | PA      | $82110.89     | 0.00%             | 2025-11-26      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| ARDAGH METAL PACKAGING                                           | Ardagh Metal Packaging Finance USA LLC / Ardagh Metal Packaging Finance PLC                                                  | CUSIP: 03969YAB4<br>LEI: N/A                  | Long             | DBT              | CORP              | XX        |    225000 | PA      | $208241.25    | 0.01%             | 2029-09-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| AMWINS GROUP INC                                                 | AmWINS Group Inc                                                                                                             | CUSIP: 031921AB5<br>LEI: 549300SJE7MUB8NMRG61 | Long             | DBT              | CORP              | US        |     70000 | PA      | $68032.36     | 0.00%             | 2029-06-30      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| United States Treasury                                           | U.S. Treasury Bonds                                                                                                          | CUSIP: 912810UE6<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  13320000 | PA      | $12825182.78  | 0.59%             | 2054-11-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Turkiye Government International Bonds                           | Turkiye Government International Bonds                                                                                       | CUSIP: 900123DK3<br>LEI: 5493000PCHOG3B6S3Q85 | Long             | DBT              | NUSS              | TR        |    250000 | PA      | $265095.22    | 0.01%             | 2034-05-15      | Fixed         | 7.63%                 | No            |                  2 | On Loan: No      |
| HERC HOLDINGS INC                                                | Herc Holdings Inc                                                                                                            | CUSIP: 42704LAG9<br>LEI: 549300TP80QLITMSBP82 | Long             | DBT              | CORP              | US        |    185000 | PA      | $193121.87    | 0.01%             | 2033-06-15      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| PINNACLE BUYER LLC                                               | PINNACLE BUYER LLC TERM LOAN                                                                                                 | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    138387 | PA      | $138560.08    | 0.01%             | 2032-09-10      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                       | Fannie Mae Pool                                                                                                              | CUSIP: 3140QKC48<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    379661 | PA      | $308328.47    | 0.01%             | 2051-04-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| XPLR INFRAST OPERATING                                           | XPLR Infrastructure Operating Partners LP                                                                                    | CUSIP: 98380MAB1<br>LEI: 549300KJEC5IUVJWR786 | Long             | DBT              | CORP              | US        |    170000 | PA      | $178277.13    | 0.01%             | 2033-03-15      | Fixed         | 8.63%                 | No            |                  2 | On Loan: No      |
| LEVEL 3 FINANCING INC                                            | Level 3 Financing Inc                                                                                                        | CUSIP: 527298BS1<br>LEI: 254900AE5FEFIJOXWL19 | Long             | DBT              | CORP              | US        |    150000 | PA      | $129817.80    | 0.01%             | 2029-01-15      | Fixed         | 3.63%                 | No            |                  2 | On Loan: No      |
| OPEN TEXT CORP                                                   | Open Text Corp                                                                                                               | CUSIP: 683715AC0<br>LEI: 549300HP7ONDQODZJV16 | Long             | DBT              | CORP              | CA        |    200000 | PA      | $194486.34    | 0.01%             | 2028-02-15      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| LAMAR MEDIA CORP                                                 | Lamar Media Corp                                                                                                             | CUSIP: 513075CA7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    210000 | PA      | $208455.23    | 0.01%             | 2033-11-01      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| ARES STRATEGIC INCOME FU                                         | Ares Strategic Income Fund                                                                                                   | CUSIP: 04020EAB3<br>LEI: 549300IANZJVZPTICV54 | Long             | DBT              | CORP              | US        |   2090000 | PA      | $2165055.66   | 0.10%             | 2029-08-15      | Fixed         | 6.35%                 | No            |                  2 | On Loan: No      |
| Colombia Government International Bonds                          | Colombia Government International Bonds                                                                                      | CUSIP: 195325EM3<br>LEI: 549300MHDRBVRF6B9117 | Long             | DBT              | NUSS              | CO        |    200000 | PA      | $219330.00    | 0.01%             | 2053-11-14      | Fixed         | 8.75%                 | No            |                  2 | On Loan: No      |
| TRANSMONTAIGNE PARTNERS                                          | TransMontaigne Partners LLC                                                                                                  | CUSIP: 89377AAA3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     90000 | PA      | $93781.82     | 0.00%             | 2030-06-15      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| FORD MOTOR CREDIT CO LLC                                         | Ford Motor Credit Co LLC                                                                                                     | CUSIP: 345397H48<br>LEI: UDSQCVRUX5BONN0VY111 | Long             | DBT              | CORP              | US        |    132000 | PA      | $133086.46    | 0.01%             | 2030-09-05      | Fixed         | 5.73%                 | No            |                  2 | On Loan: No      |
| NAVIENT CORP                                                     | Navient Corp                                                                                                                 | CUSIP: 63938CAM0<br>LEI: 54930067J0ZNOEBRW338 | Long             | DBT              | CORP              | US        |     80000 | PA      | $78424.82     | 0.00%             | 2029-03-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| HUDBAY MINERALS INC                                              | Hudbay Minerals Inc                                                                                                          | CUSIP: 443628AJ1<br>LEI: 894500LX3TMESP27BE29 | Long             | DBT              | CORP              | CA        |    100000 | PA      | $99697.38     | 0.00%             | 2026-04-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| SOVOS COMPLIANCE LLC                                             | Sovos Compliance LLC 2025 Repriced Term Loan B                                                                               | CUSIP: 84611YAF7<br>LEI: 549300M9XYG5WP2QHH07 | Long             | LON              | CORP              | US        |    249373 | PA      | $249600.36    | 0.01%             | 2029-08-13      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| NTT FINANCE CORP                                                 | NTT Finance Corp                                                                                                             | CUSIP: 62954WAQ8<br>LEI: 3538007PR116187GD960 | Long             | DBT              | CORP              | JP        |    250000 | PA      | $252472.03    | 0.01%             | 2028-07-16      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| RAILWORKS HOLDINGS LP/R                                          | Railworks Holdings LP / Railworks Rally Inc                                                                                  | CUSIP: 75079MAA7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    310000 | PA      | $313606.85    | 0.01%             | 2028-11-15      | Fixed         | 8.25%                 | No            |                  2 | On Loan: No      |
| RIVIAN HLD/AUTO LLC                                              | Rivian Holdings LLC/Rivian LLC/Rivian Automotive LLC                                                                         | CUSIP: 76954LAD1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    230000 | PA      | $214105.97    | 0.01%             | 2031-01-15      | Fixed         | 10.00%                | No            |                  2 | On Loan: No      |
| GEO GROUP INC/THE                                                | GEO Group Inc/The                                                                                                            | CUSIP: 36162JAG1<br>LEI: 54930024XOXET7NQVZ63 | Long             | DBT              | CORP              | US        |    200000 | PA      | $211746.00    | 0.01%             | 2029-04-15      | Fixed         | 8.63%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                      | Freddie Mac REMICS                                                                                                           | CUSIP: 3137HHF97<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   1816128 | PA      | $1817230.07   | 0.08%             | 2054-11-25      | Floating      | 5.46%                 | No            |                  2 | On Loan: No      |
| HEIMSTADEN BOSTAD AB                                             | Heimstaden Bostad AB                                                                                                         | CUSIP: 000000000<br>LEI: 549300TJR3PR8EXILG79 | Long             | DBT              | CORP              | SE        |    170000 | PA      | $202005.23    | 0.01%             | 2029-11-05      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF SRI LANKA                                            | Sri Lanka Government International Bond                                                                                      | CUSIP: 000000000<br>LEI: 254900IG6Y30I2QE2R92 | Long             | DBT              | NUSS              | LK        |    103261 | PA      | $91778.38     | 0.00%             | 2038-02-15      | Variable      | 3.60%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                      | Freddie Mac REMICS                                                                                                           | CUSIP: 3137FUAS3<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   1038274 | PA      | $877233.29    | 0.04%             | 2050-07-25      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| Artera Services LLC                                              | Artera Services LLC 2024 Term Loan                                                                                           | CUSIP: 73937UAL2<br>LEI: 549300J2G34D0WX8Z443 | Long             | LON              | CORP              | US        |    532475 | PA      | $474317.85    | 0.02%             | 2031-02-15      | Floating      | 8.50%                 | No            |                  2 | On Loan: No      |
| TK ELEVATOR US NEWCO INC                                         | TK Elevator US Newco Inc                                                                                                     | CUSIP: 92537RAA7<br>LEI: 549300C2AFWPAYWS5574 | Long             | DBT              | CORP              | US        |    400000 | PA      | $398585.72    | 0.02%             | 2027-07-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                       | Fannie Mae Pool                                                                                                              | CUSIP: 3140Q9T29<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    165117 | PA      | $158592.24    | 0.01%             | 2048-09-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| SHURGARD LUXEMBOURG                                              | Shurgard Luxembourg Sarl                                                                                                     | CUSIP: 000000000<br>LEI: 54930064DJ4U15OBV665 | Long             | DBT              | CORP              | LU        |    200000 | PA      | $236073.77    | 0.01%             | 2035-05-27      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| CHARLOTTE BUYER INC                                              | Charlotte Buyer Inc 2025 Repriced Term Loan B                                                                                | CUSIP: 12568YAH7<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    497494 | PA      | $496434.08    | 0.02%             | 2028-02-11      | Floating      | 8.43%                 | No            |                  2 | On Loan: No      |
| SW (FINANCE) I PLC                                               | SW Finance I PLC                                                                                                             | CUSIP: 000000000<br>LEI: 549300BHN1HB5BNG2R96 | Long             | DBT              | CORP              | GB        |    100000 | PA      | $133325.12    | 0.01%             | 2041-12-12      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| CYBERSWIFT US FINCO, LLC                                         | NORD SECURITY INC TERM LOAN B                                                                                                | CUSIP: 000000000<br>LEI: 9845008473F79E3H9069 | Long             | LON              | CORP              | NL        |     50000 | PA      | $49896.00     | 0.00%             | 2032-09-23      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF SERBIA                                               | Serbia International Bond                                                                                                    | CUSIP: 817477AJ1<br>LEI: 254900W94OCY91V32O78 | Long             | DBT              | NUSS              | RS        |    150000 | PA      | $156315.11    | 0.01%             | 2034-06-12      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| DB Master Finance LLC                                            | DB Master Finance LLC                                                                                                        | CUSIP: 233046AK7<br>LEI: 549300F17UZJL70BPB08 | Long             | ABS-O            | CORP              | US        |   3200700 | PA      | $3189235.41   | 0.15%             | 2049-05-20      | Fixed         | 4.02%                 | No            |                  2 | On Loan: No      |
| Chile Government International Bonds                             | Chile Government International Bonds                                                                                         | CUSIP: 168863EA2<br>LEI: 549300FLZTJM5YJF8D34 | Long             | DBT              | NUSS              | CL        |    200000 | PA      | $193730.00    | 0.01%             | 2054-01-05      | Fixed         | 5.33%                 | No            |                  2 | On Loan: No      |
| LIFEPOINT HEALTH INC                                             | LifePoint Health Inc                                                                                                         | CUSIP: 53219LAX7<br>LEI: 549300G8ZVHRTBBBSZ90 | Long             | DBT              | CORP              | US        |    100000 | PA      | $104995.90    | 0.00%             | 2032-06-01      | Fixed         | 10.00%                | No            |                  2 | On Loan: No      |
| ORGANON & CO/ORGANON FOR                                         | Organon & Co / Organon Foreign Debt Co-Issuer BV                                                                             | CUSIP: 68622TAA9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    300000 | PA      | $289842.73    | 0.01%             | 2028-04-30      | Fixed         | 4.13%                 | No            |                  2 | On Loan: No      |
| SUNOCO LP                                                        | Sunoco LP                                                                                                                    | CUSIP: 86765KAF6<br>LEI: 54930001NJU8E40NQ561 | Long             | DBT              | CORP              | US        |     70000 | PA      | $69483.61     | 0.00%             | 2031-03-15      | Fixed         | 5.63%                 | No            |                  2 | On Loan: No      |
| Citibank NA                                                      | Long: LKG837000 CDS EUR R V 03MEVENT LKG837000_PRO CORPORATE / Short: LKG837000 CDS EUR P F  1.00000 LKG837000_FEE CORPORATE | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DCR              |  | US        |    250000 | OU      | $-418.02      | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| BX Trust                                                         | BX Commercial Mortgage Trust 2024-XL4                                                                                        | CUSIP: 05611VAJ0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    106724 | PA      | $106972.88    | 0.00%             | 2039-02-15      | Floating      | 8.34%                 | No            |                  2 | On Loan: No      |
| NOVELIS CORP                                                     | Novelis Corp                                                                                                                 | CUSIP: 670001AL0<br>LEI: 549300G5F3W3B52WYL23 | Long             | DBT              | CORP              | US        |    300000 | PA      | $311092.20    | 0.01%             | 2030-01-30      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| BX Trust                                                         | BX Commercial Mortgage Trust 2024-XL4                                                                                        | CUSIP: 05611VAA9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   5177698 | PA      | $5182551.67   | 0.24%             | 2039-02-15      | Floating      | 5.59%                 | No            |                  2 | On Loan: No      |
| JANE STREET GRP/JSG FIN                                          | Jane Street Group / JSG Finance Inc                                                                                          | CUSIP: 47077WAC2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    150000 | PA      | $157333.84    | 0.01%             | 2031-04-30      | Fixed         | 7.13%                 | No            |                  2 | On Loan: No      |
| BOMBARDIER INC                                                   | Bombardier Inc                                                                                                               | CUSIP: 097751CD1<br>LEI: W7L3VLU8EHQY34Z36697 | Long             | DBT              | CORP              | CA        |    185000 | PA      | $193058.30    | 0.01%             | 2033-06-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| LCH Ltd.                                                         | Long: BOT406000 IRS USD R V 12MSOFR LOT406000_FLO CCPOIS / Short: BOT406000 IRS USD P F  3.75000 LOT406000_FIX CCPOIS        | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | US        |   5579000 | OU      | $-88922.90    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| BMO Mortgage Trust                                               | BMO 2025-5C11 Mortgage Trust                                                                                                 | CUSIP: 096941AE9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   4000000 | PA      | $108203.60    | 0.00%             | 2058-07-15      | Variable      | 0.81%                 | No            |                  2 | On Loan: No      |
| FLUTTER TREASURY DAC                                             | Flutter Treasury DAC                                                                                                         | CUSIP: 344045AB5<br>LEI: 635400JE8VLL9UFVIC38 | Long             | DBT              | CORP              | IE        |    475000 | PA      | $482134.50    | 0.02%             | 2031-06-04      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| White Cap Buyer LLC                                              | White Cap Buyer LLC 2024 Term Loan B                                                                                         | CUSIP: 96350TAH3<br>LEI: 254900L2N0T6GULCL366 | Long             | LON              | CORP              | US        |    334158 | PA      | $334088.12    | 0.02%             | 2029-10-19      | Floating      | 7.42%                 | No            |                  2 | On Loan: No      |
| SEALED AIR/SEALED AIR US                                         | Sealed Air Corp/Sealed Air Corp US                                                                                           | CUSIP: 812127AB4<br>LEI: Q0M0CZB4YN6JZ65WXI09 | Long             | DBT              | CORP              | US        |    100000 | PA      | $104931.80    | 0.00%             | 2031-02-15      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                         | Ginnie Mae                                                                                                                   | CUSIP: 21H0506B3<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   6050000 | PA      | $6009883.54   | 0.28%             | 2054-11-20      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LIFE TIME FITNESS INC                                            | Life Time Fitness Inc 2025 Term Loan                                                                                         | CUSIP: 000000000<br>LEI: 549300PALKE96VYH4X17 | Long             | LON              | CORP              | US        |    500000 | PA      | $499165.00    | 0.02%             | 2031-11-05      | Floating      | 6.25%                 | No            |                  2 | On Loan: No      |
| BUFFALO ENERGY MX HLDGS                                          | Buffalo Energy Mexico Holdings / Buffalo Energy Infrastructure / Buffalo Energy                                              | CUSIP: 11952AAA0<br>LEI: N/A                  | Long             | DBT              | CORP              | MX        |    149237 | PA      | $161415.73    | 0.01%             | 2039-02-15      | Fixed         | 7.88%                 | No            |                  2 | On Loan: No      |
| ROYAL BANK OF CANADA                                             | Royal Bank of Canada                                                                                                         | CUSIP: 000000000<br>LEI: ES7IP3U3RHIGC71XBU11 | Long             | DBT              | CORP              | CA        |    185000 | PA      | $217297.42    | 0.01%             | 2031-09-27      | Fixed         | 3.13%                 | No            |                  2 | On Loan: No      |
| WR GRACE HOLDING LLC                                             | WR Grace Holdings LLC                                                                                                        | CUSIP: 92943GAA9<br>LEI: 549300WNOVFRGYOAEB12 | Long             | DBT              | CORP              | US        |    400000 | PA      | $371799.12    | 0.02%             | 2029-08-15      | Fixed         | 5.63%                 | No            |                  2 | On Loan: No      |
| Bank of America NA                                               | PURCHASED USD / SOLD EUR                                                                                                     | CUSIP: 000000000<br>LEI: B4TYDEB6GKMZO031MB27 | N/A              | DFE              |  | US        |         1 | NC      | $-376.52      | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Fannie Mae                                                       | Fannie Mae Pool                                                                                                              | CUSIP: 3140XCB56<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   1217864 | PA      | $1048250.91   | 0.05%             | 2051-07-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| Canada Government Bonds                                          | Canada Government Bonds                                                                                                      | CUSIP: 135087N59<br>LEI: 4BFD7AQU0A75QLAHK410 | Long             | DBT              | NUSS              | CA        |     40000 | PA      | $27145.22     | 0.00%             | 2032-06-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| OCCIDENTAL PETROLEUM COR                                         | Occidental Petroleum Corp                                                                                                    | CUSIP: 674599EF8<br>LEI: IM7X0T3ECJW4C1T7ON55 | Long             | DBT              | CORP              | US        |   3158000 | PA      | $3326529.73   | 0.15%             | 2031-01-01      | Fixed         | 6.13%                 | No            |                  2 | On Loan: No      |
| Station Casinos LLC                                              | Station Casinos LLC 2024 Term Loan B                                                                                         | CUSIP: 85769EBB6<br>LEI: 5493004E7Q60TX54WL62 | Long             | LON              | CORP              | US        |    497475 | PA      | $497295.65    | 0.02%             | 2031-03-14      | Floating      | 6.16%                 | No            |                  2 | On Loan: No      |
| Ellucian Holdings, Inc.                                          | Ellucian Holdings Inc 2024 1st Lien Term Loan B                                                                              | CUSIP: 28917XAB6<br>LEI: 549300RP8NIJ7FY7OS79 | Long             | LON              | CORP              | US        |    497500 | PA      | $497191.55    | 0.02%             | 2029-10-09      | Floating      | 6.91%                 | No            |                  2 | On Loan: No      |
| TRANSDIGM INC                                                    | TransDigm Inc                                                                                                                | CUSIP: 893647BU0<br>LEI: 88Q84GB3X55CF5OC7582 | Long             | DBT              | CORP              | US        |    150000 | PA      | $153360.15    | 0.01%             | 2029-03-01      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| MORGAN STANLEY                                                   | Morgan Stanley                                                                                                               | CUSIP: 61747YFR1<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |   5246000 | PA      | $5592461.21   | 0.26%             | 2035-04-19      | Fixed         | 5.83%                 | No            |                  2 | On Loan: No      |
| GLOBAL AIR LEASE CO LTD                                          | Global Aircraft Leasing Co Ltd                                                                                               | CUSIP: 37960JAC2<br>LEI: N/A                  | Long             | DBT              | CORP              | KY        |    380000 | PA      | $392592.44    | 0.02%             | 2027-09-01      | Fixed         | 8.75%                 | No            |                  2 | On Loan: No      |
| AMERICAN HOMES 4 RENT                                            | American Homes 4 Rent LP                                                                                                     | CUSIP: 02666TAK3<br>LEI: 549300N4PXZ37U8QKI55 | Long             | DBT              |  | US        |   1538000 | PA      | $1566024.70   | 0.07%             | 2030-06-15      | Fixed         | 4.95%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                       | Fannie Mae REMICS                                                                                                            | CUSIP: 3136BQNC9<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   1779222 | PA      | $1791707.41   | 0.08%             | 2053-11-25      | Floating      | 5.86%                 | No            |                  2 | On Loan: No      |
| EUROPEAN INVESTMENT BANK                                         | European Investment Bank                                                                                                     | CUSIP: 000000000<br>LEI: 5493006YXS1U5GIHE750 | Long             | DBT              | NUSS              | XX        |   1205000 | PA      | $1340731.89   | 0.06%             | 2028-03-28      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| ACRISURE LLC / FIN INC                                           | Acrisure LLC / Acrisure Finance Inc                                                                                          | CUSIP: 00489LAL7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    100000 | PA      | $104175.00    | 0.00%             | 2030-11-06      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| MARS INC                                                         | Mars Inc                                                                                                                     | CUSIP: 571676BC8<br>LEI: 54930073HKEO6GZBSS03 | Long             | DBT              | CORP              | US        |   2275000 | PA      | $2304452.58   | 0.11%             | 2055-05-01      | Fixed         | 5.70%                 | No            |                  2 | On Loan: No      |
| ARES Commercial Mortgage Trust                                   | ARES Trust 2025-IND3                                                                                                         | CUSIP: 039955AJ8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    140000 | PA      | $140087.37    | 0.01%             | 2042-04-15      | Floating      | 6.70%                 | No            |                  2 | On Loan: No      |
| COOPERATIEVE RABOBANK UA                                         | Cooperatieve Rabobank UA                                                                                                     | CUSIP: 74977RDU5<br>LEI: DG3RU1DBUFHT4ZF9WN62 | Long             | DBT              | CORP              | NL        |    250000 | PA      | $262890.64    | 0.01%             | 2033-01-21      | Fixed         | 5.71%                 | No            |                  2 | On Loan: No      |
| TRINET GROUP INC                                                 | TriNet Group Inc                                                                                                             | CUSIP: 896288AA5<br>LEI: 5299003FJVBETSFKE990 | Long             | DBT              | CORP              | US        |    300000 | PA      | $280600.05    | 0.01%             | 2029-03-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                       | Fannie Mae Pool                                                                                                              | CUSIP: 3140QQQY4<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   3853322 | PA      | $3911129.71   | 0.18%             | 2052-10-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS GROUP INC                                          | Goldman Sachs Group Inc/The                                                                                                  | CUSIP: 38141GA87<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | DBT              | CORP              | US        |   4010000 | PA      | $4195431.22   | 0.19%             | 2030-04-25      | Fixed         | 5.73%                 | No            |                  2 | On Loan: No      |
| ALTICE FRANCE SA                                                 | Altice France SA                                                                                                             | CUSIP: 02156LAH4<br>LEI: 5493001ZMCICV4N02J21 | Long             | DBT              | CORP              | FR        |     45000 | PA      | $38922.14     | 0.00%             | 2029-10-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| KFW                                                              | Kreditanstalt fuer Wiederaufbau                                                                                              | CUSIP: 000000000<br>LEI: 549300GDPG70E3MBBU98 | Long             | DBT              | CORP              | DE        |    130000 | PA      | $137462.37    | 0.01%             | 2032-09-15      | Fixed         | 1.13%                 | No            |                  2 | On Loan: No      |
| VDCM Commercial Mortgage Trust                                   | VDCM Commercial Mortgage Trust 2025-AZ                                                                                       | CUSIP: 91825CAJ4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    100000 | PA      | $100752.58    | 0.00%             | 2044-07-13      | Variable      | 7.93%                 | No            |                  2 | On Loan: No      |
| LEVEL 3 FINANCING INC                                            | LEVEL 3 FINANCING INC 2025 REPRICED TERM LOAN B4                                                                             | CUSIP: 000000000<br>LEI: 254900AE5FEFIJOXWL19 | Long             | LON              | CORP              | US        |     20000 | PA      | $20000.00     | 0.00%             | 2032-03-29      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Splat Super Holdco, LLC                                          | Splat Super Holdco, LLC 2025 Delayed Draw Term Loan                                                                          | CUSIP: 000000000<br>LEI: 549300440PU6D6ZUIR97 | Long             | LON              | CORP              | US        |     49109 | PA      | $48224.96     | 0.00%             | 2032-07-02      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| VICI PROPERTIES LP                                               | VICI Properties LP                                                                                                           | CUSIP: 925650AC7<br>LEI: 254900X4QE7SGKQLLN38 | Long             | DBT              |  | US        |   2800000 | PA      | $2832476.50   | 0.13%             | 2030-02-15      | Fixed         | 4.95%                 | No            |                  2 | On Loan: No      |
| PBF HOLDING CO LLC                                               | PBF HOLDING CO LLC                                                                                                           | CUSIP: 69318FAM0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    200000 | PA      | $209612.40    | 0.01%             | 2030-03-15      | Fixed         | 9.88%                 | No            |                  2 | On Loan: No      |
| GS Mortgage-Backed Securities Trust                              | GS Mortgage-Backed Securities Trust 2024-RPL2                                                                                | CUSIP: 36269MAA9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1985124 | PA      | $1941861.01   | 0.09%             | 2061-07-25      | Variable      | 3.75%                 | No            |                  2 | On Loan: No      |
| QATAR ENERGY                                                     | QatarEnergy                                                                                                                  | CUSIP: 74730DAD5<br>LEI: 254900QTESJKJ3P87J26 | Long             | DBT              | CORP              | QA        |    350000 | PA      | $246174.60    | 0.01%             | 2051-07-12      | Fixed         | 3.30%                 | No            |                  2 | On Loan: No      |
| CALUMET SPECIALTY PROD                                           | Calumet Specialty Products Partners LP / Calumet Finance Corp                                                                | CUSIP: 131477AW1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    300000 | PA      | $298221.00    | 0.01%             | 2028-07-15      | Fixed         | 9.75%                 | No            |                  2 | On Loan: No      |
| FORESTAR GROUP INC                                               | Forestar Group Inc                                                                                                           | CUSIP: 346232AG6<br>LEI: 549300BC2UB0GHV60V70 | Long             | DBT              | CORP              | US        |    250000 | PA      | $255750.75    | 0.01%             | 2033-03-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| LIQUID TELECOM FINANCE                                           | Liquid Telecommunications Financing Plc                                                                                      | CUSIP: 536333AB3<br>LEI: 635400MXAVJRJJCWVI87 | Long             | DBT              | CORP              | GB        |    370000 | PA      | $320992.19    | 0.01%             | 2026-09-04      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Charter Communications Operating LLC                             | Charter Communications Operating LLC 2023 Term Loan B4                                                                       | CUSIP: 16117LCB3<br>LEI: 549300TPZNMN50BJ3745 | Long             | LON              | CORP              | US        |    746203 | PA      | $745113.08    | 0.03%             | 2030-12-07      | Floating      | 6.29%                 | No            |                  2 | On Loan: No      |
| SENSATA TECHNOLOGIES BV                                          | Sensata Technologies BV                                                                                                      | CUSIP: 81725WAK9<br>LEI: PUCKW5P5O3XMOZVH7T53 | Long             | DBT              | CORP              | NL        |    150000 | PA      | $143950.85    | 0.01%             | 2029-04-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| PLAINS ALL AMER PIPELINE                                         | Plains All American Pipeline LP / PAA Finance Corp                                                                           | CUSIP: 72650RBM3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2230000 | PA      | $2153114.82   | 0.10%             | 2029-12-15      | Fixed         | 3.55%                 | No            |                  2 | On Loan: No      |
| AMERICAN AXLE & MFG INC                                          | American Axle & Manufacturing Inc                                                                                            | CUSIP: 02406PBC3<br>LEI: RY5TAKFOBLDUGX31MS24 | Long             | DBT              | CORP              | US        |    105000 | PA      | $104822.71    | 0.00%             | 2032-10-15      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| Neptune Bidco US Inc                                             | Neptune Bidco US Inc 2022 USD Term Loan B                                                                                    | CUSIP: 64069JAC6<br>LEI: 549300VG15T3VCYZ4531 | Long             | LON              | CORP              | US        |    249362 | PA      | $237113.57    | 0.01%             | 2029-04-11      | Floating      | 9.43%                 | No            |                  2 | On Loan: No      |
| ELP 2021-ELP                                                     | ELP Commercial Mortgage Trust 2021-ELP                                                                                       | CUSIP: 26863LAL8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    109091 | PA      | $109022.85    | 0.00%             | 2038-11-15      | Floating      | 6.38%                 | No            |                  2 | On Loan: No      |
| DEUTSCHE BANK AG                                                 | Deutsche Bank AG                                                                                                             | CUSIP: 000000000<br>LEI: 7LTWFZYICNSX8D621K86 | Long             | DBT              | CORP              | DE        |    200000 | PA      | $279246.86    | 0.01%             | 2030-12-12      | Fixed         | 6.13%                 | No            |                  2 | On Loan: No      |
| EMERGENT BIOSOLUTIONS                                            | Emergent BioSolutions Inc                                                                                                    | CUSIP: 29089QAC9<br>LEI: 549300YW6TUOX8BE5103 | Long             | DBT              | CORP              | US        |    238000 | PA      | $197656.14    | 0.01%             | 2028-08-15      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| ONEMAIN FINANCE CORP                                             | OneMain Finance Corp                                                                                                         | CUSIP: 682691AC4<br>LEI: 5493008I795YYBFWFU90 | Long             | DBT              | CORP              | US        |    400000 | PA      | $384426.88    | 0.02%             | 2028-09-15      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| PUGET ENERGY INC                                                 | Puget Energy Inc                                                                                                             | CUSIP: 745310AQ5<br>LEI: SYBSJ96YIDMIUY7WDR33 | Long             | DBT              | CORP              | US        |   4290000 | PA      | $4426946.24   | 0.20%             | 2035-03-15      | Fixed         | 5.73%                 | No            |                  2 | On Loan: No      |
| State Street Bank & Trust Co.                                    | PURCHASED EUR / SOLD USD                                                                                                     | CUSIP: 000000000<br>LEI: 571474TGEMMWANRLN572 | N/A              | DFE              |  | XX        |         1 | NC      | $31.17        | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Kaman Corporation                                                | Kaman Corporation 2025 Delayed Draw Term Loan                                                                                | CUSIP: 48354VAN2<br>LEI: 5493003YK076OLTEQF95 | Long             | LON              | CORP              | US        |     64655 | PA      | $64406.89     | 0.00%             | 2032-02-26      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| 1011778 BC / NEW RED FIN                                         | 1011778 BC ULC / New Red Finance Inc                                                                                         | CUSIP: 68245XAJ8<br>LEI: N/A                  | Long             | DBT              | CORP              | CA        |    230000 | PA      | $225993.54    | 0.01%             | 2028-01-15      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| DEUTSCHE BANK NY                                                 | Deutsche Bank AG/New York NY                                                                                                 | CUSIP: 251526CS6<br>LEI: 7LTWFZYICNSX8D621K86 | Long             | DBT              | CORP              | DE        |   3558000 | PA      | $3736394.78   | 0.17%             | 2029-01-18      | Fixed         | 6.72%                 | No            |                  2 | On Loan: No      |
| AMENTUM HOLDINGS INC                                             | Amentum Holdings Inc                                                                                                         | CUSIP: 02352BAA3<br>LEI: 2549009FJIBLW40CU216 | Long             | DBT              | CORP              | US        |    150000 | PA      | $155754.90    | 0.01%             | 2032-08-01      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| BX Trust                                                         | BX Commercial Mortgage Trust 2021-ACNT                                                                                       | CUSIP: 05609QAC0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    207523 | PA      | $207328.25    | 0.01%             | 2038-11-15      | Floating      | 5.51%                 | No            |                  2 | On Loan: No      |
| QUIKRETE HOLDINGS INC                                            | Quikrete Holdings Inc 2025 Term Loan B                                                                                       | CUSIP: 74839XAL3<br>LEI: 5493007KIN86DIZWZT22 | Long             | LON              | CORP              | US        |    746250 | PA      | $745742.55    | 0.03%             | 2032-02-10      | Floating      | 6.41%                 | No            |                  2 | On Loan: No      |
| UNITI GRP/UNITI HLD/CSL                                          | Uniti Group LP / Uniti Fiber Holdings Inc / CSL Capital LLC                                                                  | CUSIP: 91327AAB8<br>LEI: N/A                  | Long             | DBT              |  | US        |    300000 | PA      | $271621.72    | 0.01%             | 2030-01-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| PRP Advisors, LLC                                                | PRPM 2024-RPL1 LLC                                                                                                           | CUSIP: 69380XAA0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    166768 | PA      | $164547.27    | 0.01%             | 2064-12-25      | Variable      | 4.20%                 | No            |                  2 | On Loan: No      |
| VTR FINANCE BV                                                   | VTR Finance NV                                                                                                               | CUSIP: 918374AA7<br>LEI: 213800F4XI4RJB82XM19 | Long             | DBT              | CORP              | NL        |    400000 | PA      | $388000.00    | 0.02%             | 2028-07-15      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| FORD MOTOR CREDIT CO LLC                                         | Ford Motor Credit Co LLC                                                                                                     | CUSIP: 000000000<br>LEI: UDSQCVRUX5BONN0VY111 | Long             | DBT              | CORP              | US        |    100000 | PA      | $119744.50    | 0.01%             | 2030-02-14      | Fixed         | 4.45%                 | No            |                  2 | On Loan: No      |
| BNP Paribas SA                                                   | Long: LFQ582000 CDS EUR R V 03MEVENT LFQ582000_PRO CORPORATE / Short: LFQ582000 CDS EUR P F  1.00000 LFQ582000_FEE CORPORATE | CUSIP: 000000000<br>LEI: R0MUWSFPU8MPRO8K5P83 | N/A              | DCR              |  | US        |    250000 | OU      | $-2365.12     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| DISH DBS CORP                                                    | DISH DBS Corp                                                                                                                | CUSIP: 25470XBB0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     95000 | PA      | $87536.33     | 0.00%             | 2028-07-01      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| BANCO DEL ESTADO -CHILE                                          | Banco del Estado de Chile                                                                                                    | CUSIP: 05957AAC3<br>LEI: 5493004R4EJC0W0XVQ72 | Long             | DBT              | CORP              | CL        |    200000 | PA      | $213362.18    | 0.01%             | 2029-05-02      | Fixed         | 7.95%                 | No            |                  2 | On Loan: No      |
| HEIMSTADEN BOSTAD AB                                             | Heimstaden Bostad AB                                                                                                         | CUSIP: 000000000<br>LEI: 549300TJR3PR8EXILG79 | Long             | DBT              | CORP              | SE        |    105000 | PA      | $121232.66    | 0.01%             | 2026-10-13      | Fixed         | 3.63%                 | No            |                  2 | On Loan: No      |
| ONEOK INC                                                        | ONEOK Inc                                                                                                                    | CUSIP: 682680CR2<br>LEI: 2T3D6M0JSY48PSZI1Q41 | Long             | DBT              | CORP              | US        |   2990000 | PA      | $3212946.72   | 0.15%             | 2030-09-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF GABON                                                | Gabon Government International Bond                                                                                          | CUSIP: 362420AD3<br>LEI: N/A                  | Long             | DBT              | NUSS              | GA        |    150000 | PA      | $120629.53    | 0.01%             | 2031-02-06      | Fixed         | 6.63%                 | No            |                  2 | On Loan: No      |
| WINDSTREAM SERVICES LLC                                          | Windstream Services LLC                                                                                                      | CUSIP: 97382BAB5<br>LEI: 549300KT9GVEBYCD2N29 | Long             | DBT              | CORP              | US        |    345000 | PA      | $344906.85    | 0.02%             | 2033-10-15      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| METHANEX CORP                                                    | Methanex Corp                                                                                                                | CUSIP: 59151KAL2<br>LEI: 549300TSJHRXT9QXRD13 | Long             | DBT              | CORP              | CA        |     70000 | PA      | $69896.79     | 0.00%             | 2029-12-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| UBS GROUP AG                                                     | UBS Group AG                                                                                                                 | CUSIP: 902613BH0<br>LEI: 549300SZJ9VS8SGXAN81 | Long             | DBT              | CORP              | CH        |   1005000 | PA      | $1058777.01   | 0.05%             | 2035-02-08      | Fixed         | 5.70%                 | No            |                  2 | On Loan: No      |
| XPLR INFRAST OPERATING                                           | XPLR Infrastructure Operating Partners LP                                                                                    | CUSIP: 98380MAA3<br>LEI: 549300KJEC5IUVJWR786 | Long             | DBT              | CORP              | US        |    170000 | PA      | $178160.00    | 0.01%             | 2031-01-15      | Fixed         | 8.38%                 | No            |                  2 | On Loan: No      |
| Lumen Technologies Inc                                           | Lumen Technologies Inc 2024 Extended Term Loan B1                                                                            | CUSIP: 55024EAF2<br>LEI: 8M3THTGWLTYZVE6BBY25 | Long             | LON              | CORP              | US        |   1765500 | PA      | $1752506.36   | 0.08%             | 2029-04-16      | Floating      | 6.63%                 | No            |                  2 | On Loan: No      |
| IVC ACQUISITION LTD                                              | IVC Acquisition Ltd 2025 USD Repriced Term Loan B                                                                            | CUSIP: 000000000<br>LEI: 254900WZMD2JOGND1Z32 | Long             | LON              | CORP              | CA        |    497475 | PA      | $499444.74    | 0.02%             | 2028-12-12      | Floating      | 7.75%                 | No            |                  2 | On Loan: No      |
| ALLY FINANCIAL INC                                               | Ally Financial Inc                                                                                                           | CUSIP: 02005NBY5<br>LEI: 549300JBN1OSM8YNAI90 | Long             | DBT              | CORP              | US        |    365000 | PA      | $364874.52    | 0.02%             | 2040-01-17      | Fixed         | 6.65%                 | No            |                  2 | On Loan: No      |
| STANDARD CHARTERED PLC                                           | Standard Chartered PLC                                                                                                       | CUSIP: 000000000<br>LEI: U4LOSYZ7YG4W3S5F2G91 | Long             | DBT              | CORP              | GB        |    130000 | PA      | $155361.85    | 0.01%             | 2033-03-17      | Fixed         | 3.86%                 | No            |                  2 | On Loan: No      |
| JPMORGAN CHASE & CO                                              | JPMorgan Chase & Co                                                                                                          | CUSIP: 46647PDY9<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | DBT              | CORP              | US        |   1418000 | PA      | $1562529.49   | 0.07%             | 2034-10-23      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                       | Fannie Mae REMICS                                                                                                            | CUSIP: 3136BMGV4<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    462347 | PA      | $442118.31    | 0.02%             | 2046-07-25      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| Pretium Mortgage Credit Partners LLC                             | PRET 2025-RPL3 Trust                                                                                                         | CUSIP: 69382RAA1<br>LEI: 254900640HC5OZKI7J87 | Long             | ABS-MBS          | CORP              | US        |    388026 | PA      | $376631.37    | 0.02%             | 2065-04-25      | Variable      | 4.15%                 | No            |                  2 | On Loan: No      |
| YORKSHIRE WATER FINANCE                                          | Yorkshire Water Finance PLC                                                                                                  | CUSIP: 000000000<br>LEI: 213800O8BDOGHJMTCP32 | Long             | DBT              | CORP              | GB        |    100000 | PA      | $134151.30    | 0.01%             | 2033-07-22      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| UNIVISION COMMUNICATIONS                                         | Univision Communications Inc                                                                                                 | CUSIP: 914906BA9<br>LEI: 549300YQDE2JSGTL8V47 | Long             | DBT              | CORP              | US        |    220000 | PA      | $234446.74    | 0.01%             | 2032-08-01      | Fixed         | 9.38%                 | No            |                  2 | On Loan: No      |
| CBRE OPEN-ENDED FUNDS                                            | CBRE Open-Ended Funds SCA SICAV-SIF                                                                                          | CUSIP: 000000000<br>LEI: 529900J5H3JGJ83AUZ88 | Long             | DBT              | CORP              | LU        |    125000 | PA      | $154835.40    | 0.01%             | 2034-03-27      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| ASPLUNDH TREE EXPERT LLC                                         | Asplundh Tree Expert LLC 2024 Incremental Term Loan B                                                                        | CUSIP: 04538FAE9<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    248739 | PA      | $248604.96    | 0.01%             | 2031-05-23      | Floating      | 5.91%                 | No            |                  2 | On Loan: No      |
| ALA Trust                                                        | ALA Trust 2025-OANA                                                                                                          | CUSIP: 009920AA7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    940000 | PA      | $944700.00    | 0.04%             | 2040-06-15      | Floating      | 5.89%                 | No            |                  2 | On Loan: No      |
| BANC CREDITO INVERSIONES                                         | Banco de Credito e Inversiones SA                                                                                            | CUSIP: 05890MAC7<br>LEI: 549300E9E5Y3PKW24142 | Long             | DBT              | CORP              | CL        |    200000 | PA      | $216500.00    | 0.01%             | 2029-05-08      | Fixed         | 8.75%                 | No            |                  2 | On Loan: No      |
| HOWARD HUGHES CORP                                               | Howard Hughes Corp/The                                                                                                       | CUSIP: 44267DAE7<br>LEI: 549300BVHY25JZC1KI49 | Long             | DBT              | CORP              | US        |     70000 | PA      | $67149.75     | 0.00%             | 2029-02-01      | Fixed         | 4.13%                 | No            |                  2 | On Loan: No      |
| UMBS, TBA                                                        | Uniform Mortgage-Backed Security, TBA                                                                                        | CUSIP: 01F0606A8<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |  15175000 | PA      | $15502592.89  | 0.71%             | 2054-10-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                       | Fannie Mae Pool                                                                                                              | CUSIP: 3140QLWV4<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   1798732 | PA      | $1610509.72   | 0.07%             | 2051-09-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| ADMIRAL GROUP PLC                                                | Admiral Group PLC                                                                                                            | CUSIP: 000000000<br>LEI: 213800FGVM7Z9EJB2685 | Long             | DBT              | CORP              | GB        |    235000 | PA      | $361766.51    | 0.02%             | 2034-01-06      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| OUTFRONT MEDIA CAP LLC/C                                         | Outfront Media Capital LLC / Outfront Media Capital Corp                                                                     | CUSIP: 69007TAG9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    130000 | PA      | $137142.59    | 0.01%             | 2031-02-15      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| SNAP INC                                                         | Snap Inc                                                                                                                     | CUSIP: 83304AAM8<br>LEI: 549300JNC0L6VP8A2Q35 | Long             | DBT              | CORP              | US        |     70000 | PA      | $70849.20     | 0.00%             | 2034-03-15      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| WR Grace & Co-Conn                                               | WR Grace & Co-Conn 2025 Term Loan B                                                                                          | CUSIP: 92943HAD1<br>LEI: 549300WNOVFRGYOAEB12 | Long             | LON              | CORP              | US        |    140000 | PA      | $140233.80    | 0.01%             | 2032-08-19      | Floating      | 7.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                       | Fannie Mae REMICS                                                                                                            | CUSIP: 3136BNS31<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   1515752 | PA      | $1496965.27   | 0.07%             | 2052-08-25      | Floating      | 5.16%                 | No            |                  2 | On Loan: No      |
| TIERRA MOJADA LUX II SRL                                         | Tierra Mojada Luxembourg II Sarl                                                                                             | CUSIP: 30260LAA3<br>LEI: 254900H2U8PBIY32VI94 | Long             | DBT              | CORP              | LU        |    169055 | PA      | $166477.09    | 0.01%             | 2040-12-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| BNP PARIBAS                                                      | BNP Paribas SA                                                                                                               | CUSIP: 000000000<br>LEI: R0MUWSFPU8MPRO8K5P83 | Long             | DBT              | CORP              | FR        |    200000 | PA      | $235600.46    | 0.01%             | 2037-02-18      | Fixed         | 3.95%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                      | Freddie Mac Pool                                                                                                             | CUSIP: 3133KYWX3<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   3215237 | PA      | $2974570.92   | 0.14%             | 2042-06-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| MORGAN STANLEY                                                   | Morgan Stanley                                                                                                               | CUSIP: 61747YEV3<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |   3189000 | PA      | $3323221.66   | 0.15%             | 2028-10-18      | Fixed         | 6.30%                 | No            |                  2 | On Loan: No      |
| Morgan Stanley Capital Services LLC                              | Long: LFH039000 CDS USD R V 01MEVENT LFH039000_PRO CMBX / Short: LFH039000 CDS USD P F  5.00000 LFH039000_FEE CMBX           | CUSIP: 000000000<br>LEI: I7331LVCZKQKX5T7XV54 | N/A              | DCR              |  | US        |    200000 | OU      | $24989.27     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| BAT INTL FINANCE PLC                                             | BAT International Finance PLC                                                                                                | CUSIP: 000000000<br>LEI: 21380041YBGOQDFAC823 | Long             | DBT              | CORP              | GB        |    255000 | PA      | $309195.97    | 0.01%             | 2032-04-12      | Fixed         | 4.13%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                      | Freddie Mac Pool                                                                                                             | CUSIP: 3133KYSZ3<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   2445636 | PA      | $2230637.67   | 0.10%             | 2040-01-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| GLOBAL PART/GLP FINANCE                                          | Global Partners LP / GLP Finance Corp                                                                                        | CUSIP: 37954FAL8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     50000 | PA      | $51249.15     | 0.00%             | 2033-07-01      | Fixed         | 7.13%                 | No            |                  2 | On Loan: No      |
| VALE OVERSEAS LIMITED                                            | Vale Overseas Ltd                                                                                                            | CUSIP: 91911TAS2<br>LEI: 254900BA3U6G5DNV5V04 | Long             | DBT              | CORP              | KY        |    150000 | PA      | $154188.30    | 0.01%             | 2054-06-28      | Fixed         | 6.40%                 | No            |                  2 | On Loan: No      |
| BX Trust 2019-OC11                                               | BX Trust 2019-OC11                                                                                                           | CUSIP: 05606FAN3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    525000 | PA      | $480417.58    | 0.02%             | 2041-12-09      | Variable      | 4.08%                 | No            |                  2 | On Loan: No      |
| RIOT PLATFORMS INC                                               | Riot Platforms Inc                                                                                                           | CUSIP: 767292AA3<br>LEI: 5299005LKZAJQDQZDF73 | Long             | DBT              | CORP              | US        |    276000 | PA      | $421384.44    | 0.02%             | 2030-01-15      | Fixed         | 0.75%                 | No            |                  2 | On Loan: No      |
| BMO Mortgage Trust                                               | BMO 2025-C12 Mortgage Trust                                                                                                  | CUSIP: 05615DAJ6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    113000 | PA      | $117533.94    | 0.01%             | 2058-06-15      | Variable      | 6.61%                 | No            |                  2 | On Loan: No      |
| TALOS PRODUCTION INC                                             | Talos Production Inc                                                                                                         | CUSIP: 87485LAD6<br>LEI: 549300GZ2DZZE2Y8TX15 | Long             | DBT              | CORP              | US        |    100000 | PA      | $103402.80    | 0.00%             | 2029-02-01      | Fixed         | 9.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                       | Fannie Mae Pool                                                                                                              | CUSIP: 3140XHBG1<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    492804 | PA      | $437961.94    | 0.02%             | 2051-12-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| GO DADDY OPCO/FINCO                                              | Go Daddy Operating Co LLC / GD Finance Co Inc                                                                                | CUSIP: 38016LAA3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    200000 | PA      | $199646.64    | 0.01%             | 2027-12-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                       | Fannie Mae Pool                                                                                                              | CUSIP: 3140J7RS6<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    551226 | PA      | $573527.98    | 0.03%             | 2044-05-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                      | Freddie Mac Pool                                                                                                             | CUSIP: 3132DWFQ1<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    364304 | PA      | $354961.57    | 0.02%             | 2052-12-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| PARKLAND CORP                                                    | Parkland Corp                                                                                                                | CUSIP: 70137WAN8<br>LEI: 549300UY5C6HUV0XLS53 | Long             | DBT              | CORP              | CA        |    100000 | PA      | $102756.20    | 0.00%             | 2032-08-15      | Fixed         | 6.63%                 | No            |                  2 | On Loan: No      |
| ON SEMICONDUCTOR CORP                                            | ON Semiconductor Corp                                                                                                        | CUSIP: 682189AQ8<br>LEI: ZV20P4CNJVT8V1ZGJ064 | Long             | DBT              | CORP              | US        |    150000 | PA      | $145576.74    | 0.01%             | 2028-09-01      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| 1011778 BC / NEW RED FIN                                         | 1011778 BC ULC / New Red Finance Inc                                                                                         | CUSIP: 68245XAM1<br>LEI: N/A                  | Long             | DBT              | CORP              | CA        |    200000 | PA      | $188484.68    | 0.01%             | 2030-10-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| KNDR Trust 2021-KIND                                             | KIND Trust 2021-KIND                                                                                                         | CUSIP: 482606AN0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    223167 | PA      | $220935.54    | 0.01%             | 2038-08-15      | Floating      | 6.57%                 | No            |                  2 | On Loan: No      |
| Onslow Bay Financial LLC                                         | OBX 2025-NQM10 Trust                                                                                                         | CUSIP: 67121LAA4<br>LEI: 254900NDJVO62R77II89 | Long             | ABS-MBS          | CORP              | US        |    581414 | PA      | $586556.46    | 0.03%             | 2065-05-25      | Variable      | 5.45%                 | No            |                  2 | On Loan: No      |
| WINDSTREAM SERVICES/ESCR                                         | Windstream Services LLC / Windstream Escrow Finance Corp                                                                     | CUSIP: 97381AAA0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    350000 | PA      | $362556.74    | 0.02%             | 2031-10-01      | Fixed         | 8.25%                 | No            |                  2 | On Loan: No      |
| CODELCO INC                                                      | Corp Nacional del Cobre de Chile                                                                                             | CUSIP: 21987BBB3<br>LEI: 549300UVMBCBCIPSUI70 | Long             | DBT              | CORP              | CL        |     50000 | PA      | $47375.00     | 0.00%             | 2030-01-14      | Fixed         | 3.15%                 | No            |                  2 | On Loan: No      |
| CENT Trust                                                       | CENT 2025-CITY                                                                                                               | CUSIP: 12517TAA5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1046000 | PA      | $1052977.13   | 0.05%             | 2040-07-10      | Variable      | 5.09%                 | No            |                  2 | On Loan: No      |
| Petroleos Mexicanos                                              | Petroleos Mexicanos                                                                                                          | CUSIP: 71654QCC4<br>LEI: 549300CAZKPF4HKMPX17 | Long             | DBT              | CORP              | MX        |   1239000 | PA      | $1022554.01   | 0.05%             | 2047-09-21      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| INDO ASAHAN/MINERAL IND                                          | Indonesia Asahan Aluminium PT / Mineral Industri Indonesia Persero PT                                                        | CUSIP: 74445PAF9<br>LEI: 2549008P48EB9SN2OI80 | Long             | DBT              | CORP              | ID        |    150000 | PA      | $154748.55    | 0.01%             | 2030-05-15      | Fixed         | 5.45%                 | No            |                  2 | On Loan: No      |
| AIR COMM CORPORATION LLC                                         | Air Comm Corporation LLC 2025 Term Loan                                                                                      | CUSIP: 82670NAG1<br>LEI: 254900S9ONE06XB1T251 | Long             | LON              | CORP              | US        |    469359 | PA      | $469358.97    | 0.02%             | 2031-12-11      | Floating      | 7.06%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                         | Ginnie Mae II Pool                                                                                                           | CUSIP: 3618N5MK2<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    489898 | PA      | $437652.85    | 0.02%             | 2055-05-20      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                       | Fannie Mae Pool                                                                                                              | CUSIP: 3140QQUN3<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   2914659 | PA      | $2973541.85   | 0.14%             | 2052-11-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| RHP HOTEL PPTY/RHP FINAN                                         | RHP Hotel Properties LP / RHP Finance Corp                                                                                   | CUSIP: 749571AL9<br>LEI: N/A                  | Long             | DBT              |  | US        |    130000 | PA      | $133885.70    | 0.01%             | 2033-06-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                      | Freddie Mac Pool                                                                                                             | CUSIP: 3132A5GE9<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   2265770 | PA      | $2047583.46   | 0.09%             | 2047-01-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| ROMANIA                                                          | Romanian Government International Bond                                                                                       | CUSIP: 000000000<br>LEI: 315700IASY927EDWBK92 | Long             | DBT              | NUSS              | RO        |    100000 | PA      | $123268.53    | 0.01%             | 2033-09-18      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| American Airlines, Inc.                                          | American Airlines Inc 2025 Term Loan                                                                                         | CUSIP: 02376CBS3<br>LEI: IWUQB36BXD6OWD6X4T14 | Long             | LON              | CORP              | KY        |    498750 | PA      | $497712.60    | 0.02%             | 2028-04-20      | Floating      | 6.58%                 | No            |                  2 | On Loan: No      |
| United States Treasury                                           | U.S. Treasury Notes                                                                                                          | CUSIP: 91282CHF1<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |     41000 | PA      | $41028.83     | 0.00%             | 2030-05-31      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| United States Treasury                                           | U.S. Treasury Notes                                                                                                          | CUSIP: 91282CNJ6<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  16500000 | PA      | $16585078.13  | 0.76%             | 2032-06-30      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Cloud Software Group Inc                                         | Cloud Software Group Inc 2025 Term Loan B (2031)                                                                             | CUSIP: 88632NBK5<br>LEI: 04EEB871XLHVNY4RZJ65 | Long             | LON              | CORP              | US        |    997494 | PA      | $1000925.11   | 0.05%             | 2031-03-21      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| ICE Futures Europe - Financial Products Division                 | LONG GILT FUTURE DEC25                                                                                                       | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DIR              |  | GB        |       -10 | NC      | $-5128.07     | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| NUVEI TECHNOLOGIES CORP                                          | Nuvei Technologies Corp 2025 Repriced Term Loan B                                                                            | CUSIP: 69425BAD9<br>LEI: 254900L3D6CI0XH2P605 | Long             | LON              | CORP              | US        |    497503 | PA      | $497259.35    | 0.02%             | 2031-11-17      | Floating      | 6.91%                 | No            |                  2 | On Loan: No      |
| ASGN INCORPORATED                                                | ASGN Inc                                                                                                                     | CUSIP: 00191UAA0<br>LEI: LZBNYYCBUKY537072438 | Long             | DBT              | CORP              | US        |     95000 | PA      | $93253.51     | 0.00%             | 2028-05-15      | Fixed         | 4.63%                 | No            |                  2 | On Loan: No      |
| BX Trust                                                         | BX Commercial Mortgage Trust 2024-GPA3                                                                                       | CUSIP: 123910AA9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   2967446 | PA      | $2972989.36   | 0.14%             | 2039-12-15      | Floating      | 5.44%                 | No            |                  2 | On Loan: No      |
| Mexico Government International Bonds                            | Mexico Government International Bonds                                                                                        | CUSIP: 91087BAM2<br>LEI: 254900EGTWEU67VP6075 | Long             | DBT              | NUSS              | MX        |    200000 | PA      | $177680.00    | 0.01%             | 2031-05-24      | Fixed         | 2.66%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                         | Ginnie Mae                                                                                                                   | CUSIP: 21H0526B9<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   5200000 | PA      | $5235043.58   | 0.24%             | 2054-11-20      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| AVOLON HOLDINGS FNDG LTD                                         | Avolon Holdings Funding Ltd                                                                                                  | CUSIP: 05401AAW1<br>LEI: 635400ZRKEX9L1BKCH30 | Long             | DBT              | CORP              | KY        |   1700000 | PA      | $1717067.07   | 0.08%             | 2028-01-15      | Fixed         | 4.95%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                      | Freddie Mac REMICS                                                                                                           | CUSIP: 3137HAT48<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   5066208 | PA      | $5122337.68   | 0.23%             | 2053-10-25      | Floating      | 5.81%                 | No            |                  2 | On Loan: No      |
| OFFICE CHERIFIEN DES PHO                                         | OCP SA                                                                                                                       | CUSIP: 67091TAB1<br>LEI: 213800D26TAPVTCVWG40 | Long             | DBT              | CORP              | MA        |    100000 | PA      | $104738.00    | 0.00%             | 2044-04-25      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| NRG ENERGY INC                                                   | NRG Energy Inc                                                                                                               | CUSIP: 629377CW0<br>LEI: 5E2UPK5SW04M13XY7I38 | Long             | DBT              | CORP              | US        |    350000 | PA      | $355449.85    | 0.02%             | 2033-02-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| UMBS, TBA                                                        | Uniform Mortgage-Backed Security, TBA                                                                                        | CUSIP: 01F0406A0<br>LEI: N/A                  | Short            | ABS-MBS          | USGSE             | US        |  -3000000 | PA      | $-2827087.38  | -0.13%            | 2055-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| MONTEGO BAY AIRPORT REVE                                         | Montego Bay Airport Revenue Finance Ltd                                                                                      | CUSIP: 61238BAA9<br>LEI: 2549008BQQ5ON8H2UC19 | Long             | DBT              | CORP              | KY        |    200000 | PA      | $204500.00    | 0.01%             | 2035-06-15      | Fixed         | 6.60%                 | No            |                  2 | On Loan: No      |
| OWENS & MINOR INC                                                | Owens & Minor Inc                                                                                                            | CUSIP: 690732AF9<br>LEI: 549300LMT5KQQXCEZ733 | Long             | DBT              | CORP              | US        |     80000 | PA      | $64207.03     | 0.00%             | 2029-03-31      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| SAUDI INTERNATIONAL BOND                                         | Saudi Government International Bond                                                                                          | CUSIP: 80413TAW9<br>LEI: 635400FMICXSM3SI3H65 | Long             | DBT              | NUSS              | SA        |    250000 | PA      | $163520.55    | 0.01%             | 2061-02-02      | Fixed         | 3.45%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF EL SALVADOR                                          | El Salvador Government International Bond                                                                                    | CUSIP: 283875CE0<br>LEI: 529900AKDMUSFSDOM949 | Long             | DBT              | NUSS              | SV        |    200000 | PA      | $218000.00    | 0.01%             | 2030-04-17      | Fixed         | 9.25%                 | No            |                  2 | On Loan: No      |
| BOMBARDIER INC                                                   | Bombardier Inc                                                                                                               | CUSIP: 097751CB5<br>LEI: W7L3VLU8EHQY34Z36697 | Long             | DBT              | CORP              | CA        |    200000 | PA      | $212006.45    | 0.01%             | 2031-07-01      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| Panama Government International Bonds                            | Panama Government International Bonds                                                                                        | CUSIP: 698299BL7<br>LEI: 549300SHS4T08CL0LP14 | Long             | DBT              | NUSS              | PA        |    200000 | PA      | $128560.00    | 0.01%             | 2060-07-23      | Fixed         | 3.87%                 | No            |                  2 | On Loan: No      |
| WHIRLPOOL CORP                                                   | Whirlpool Corp                                                                                                               | CUSIP: 963320BD7<br>LEI: WHENKOULSSK7WUM60H03 | Long             | DBT              | CORP              | US        |    270000 | PA      | $272114.70    | 0.01%             | 2030-06-15      | Fixed         | 6.13%                 | No            |                  2 | On Loan: No      |
| TARGA RESOURCES CORP                                             | Targa Resources Corp                                                                                                         | CUSIP: 87612GAP6<br>LEI: 5493003QENHHS261UR94 | Long             | DBT              | CORP              | US        |    658000 | PA      | $668348.62    | 0.03%             | 2030-09-15      | Fixed         | 4.90%                 | No            |                  2 | On Loan: No      |
| Barclays Commercial Mortgage Securities LLC                      | BBCMS Mortgage Trust 2025-C35                                                                                                | CUSIP: 07337DAG5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    100000 | PA      | $101258.71    | 0.00%             | 2058-07-15      | Variable      | 6.32%                 | No            |                  2 | On Loan: No      |
| Roper Industrial Products Investment Company LLC                 | Roper Industrial Products Investment Company LLC 2024 USD 1st Lien Term Loan B                                               | CUSIP: 77669LAK9<br>LEI: 254900RXO1EICEHOLG29 | Long             | LON              | CORP              | US        |    134323 | PA      | $134436.13    | 0.01%             | 2029-11-22      | Floating      | 6.75%                 | No            |                  2 | On Loan: No      |
| LADDER CAP FIN LLLP/CORP                                         | Ladder Capital Finance Holdings LLLP / Ladder Capital Finance Corp                                                           | CUSIP: 505742AR7<br>LEI: N/A                  | Long             | DBT              |  | US        |    155000 | PA      | $162499.63    | 0.01%             | 2031-07-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| QUIKRETE HOLDINGS INC                                            | Quikrete Holdings Inc                                                                                                        | CUSIP: 74843PAB6<br>LEI: 5493007KIN86DIZWZT22 | Long             | DBT              | CORP              | US        |    200000 | PA      | $207938.74    | 0.01%             | 2033-03-01      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| ALLIED UNIVERSAL                                                 | Allied Universal Holdco LLC / Allied Universal Finance Corp                                                                  | CUSIP: 019576AF4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    190000 | PA      | $195287.70    | 0.01%             | 2030-06-15      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| Republic of South Africa Government International Bonds          | Republic of South Africa Government International Bonds                                                                      | CUSIP: 836205BA1<br>LEI: 378900AAFB4F17004C49 | Long             | DBT              | NUSS              | ZA        |    150000 | PA      | $148326.99    | 0.01%             | 2029-09-30      | Fixed         | 4.85%                 | No            |                  2 | On Loan: No      |
| SOCIETE GENERALE                                                 | Societe Generale SA                                                                                                          | CUSIP: 83368RBS0<br>LEI: O2RNE8IBXP4R0TD8PU41 | Long             | DBT              | CORP              | FR        |    205000 | PA      | $223289.73    | 0.01%             | 2034-01-10      | Fixed         | 6.69%                 | No            |                  2 | On Loan: No      |
| United States Treasury                                           | U.S. Treasury Bonds                                                                                                          | CUSIP: 912810UK2<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   7441000 | PA      | $7464253.13   | 0.34%             | 2055-05-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| Philippines Government International Bonds                       | Philippines Government International Bonds                                                                                   | CUSIP: 718286CX3<br>LEI: 529900RAHBALMYIJ3T08 | Long             | DBT              | NUSS              | PH        |    200000 | PA      | $204109.68    | 0.01%             | 2048-01-17      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Palmer Square CLO Ltd                                            | Palmer Square CLO 2025-2 Ltd                                                                                                 | CUSIP: 69704BAA7<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   2355000 | PA      | $2367017.57   | 0.11%             | 2038-07-20      | Floating      | 5.67%                 | No            |                  2 | On Loan: No      |
| NOURISH BUYER I INC                                              | Nourish Buyer I Inc 2025 Term Loan B                                                                                         | CUSIP: 66979CAH4<br>LEI: 254900WHHUSAU0TJQB23 | Long             | LON              | CORP              | US        |    410000 | PA      | $409487.50    | 0.02%             | 2032-07-09      | Floating      | 8.82%                 | No            |                  2 | On Loan: No      |
| Taubman Centers Commercial Mortgage Trust                        | TCO Commercial Mortgage Trust 2024-DPM                                                                                       | CUSIP: 87231EAA5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   4870000 | PA      | $4876085.55   | 0.22%             | 2039-12-15      | Floating      | 5.39%                 | No            |                  2 | On Loan: No      |
| AIRCASTLE LTD                                                    | Aircastle Ltd                                                                                                                | CUSIP: 00928QAW1<br>LEI: 549300PNK8AKY3OIKP58 | Long             | DBT              | CORP              | BM        |    300000 | PA      | $298354.29    | 0.01%             | 2026-06-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| United States Treasury                                           | U.S. Treasury Notes                                                                                                          | CUSIP: 91282CMU2<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        | 120000000 | PA      | $121373437.20 | 5.56%             | 2030-03-31      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| GOLAR LNG LTD                                                    | Golar LNG Ltd                                                                                                                | CUSIP: 38046YAE1<br>LEI: 213800C2VSFZG3EZLO34 | Long             | DBT              | CORP              | BM        |    260000 | PA      | $257599.05    | 0.01%             | 2030-10-02      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| ORACLE CORP                                                      | Oracle Corp                                                                                                                  | CUSIP: 68389XDP7<br>LEI: 1Z4GXXU7ZHVWFCD8TV52 | Long             | DBT              | CORP              | US        |    626000 | PA      | $627699.58    | 0.03%             | 2045-09-26      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| COMM Mortgage Trust                                              | COMM 2015-DC1 Mortgage Trust                                                                                                 | CUSIP: 12629NAJ4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    240000 | PA      | $228354.19    | 0.01%             | 2048-02-10      | Variable      | 4.04%                 | No            |                  2 | On Loan: No      |
| MACQUARIE AIRFINANCE HLD                                         | Macquarie Airfinance Holdings Ltd                                                                                            | CUSIP: 55609NAC2<br>LEI: 549300MCGUSL5B852H65 | Long             | DBT              | CORP              | GB        |    200000 | PA      | $210623.35    | 0.01%             | 2029-03-26      | Fixed         | 6.40%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF SRI LANKA                                            | Sri Lanka Government International Bond                                                                                      | CUSIP: 000000000<br>LEI: 254900IG6Y30I2QE2R92 | Long             | DBT              | NUSS              | LK        |     56145 | PA      | $52495.58     | 0.00%             | 2030-01-15      | Variable      | 3.10%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                       | Fannie Mae Pool                                                                                                              | CUSIP: 3140XDS49<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     21795 | PA      | $17901.03     | 0.00%             | 2051-11-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| DELL INT LLC / EMC CORP                                          | Dell International LLC / EMC Corp                                                                                            | CUSIP: 24703DBR1<br>LEI: 254900ZARLSVK41DKO78 | Long             | DBT              | CORP              | US        |    889000 | PA      | $886872.59    | 0.04%             | 2029-02-15      | Fixed         | 4.15%                 | No            |                  2 | On Loan: No      |
| POSCO                                                            | POSCO                                                                                                                        | CUSIP: 73730EAE3<br>LEI: 9884000N94NH7G6LQ816 | Long             | DBT              | CORP              | KR        |    200000 | PA      | $211522.94    | 0.01%             | 2033-01-17      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| PRP Advisors, LLC                                                | PRPM 2024-RPL4 LLC                                                                                                           | CUSIP: 74448MAA4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     91313 | PA      | $89655.69     | 0.00%             | 2054-12-25      | Variable      | 4.00%                 | No            |                  2 | On Loan: No      |
| IHS HOLDING LTD                                                  | IHS Holding Ltd                                                                                                              | CUSIP: 44963HAC9<br>LEI: 213800CLGMKL63VKTD94 | Long             | DBT              | CORP              | KY        |    400000 | PA      | $413328.45    | 0.02%             | 2030-05-29      | Fixed         | 7.88%                 | No            |                  2 | On Loan: No      |
| Republic of Guatemala                                            | Guatemala Government Bond                                                                                                    | CUSIP: 401494AR0<br>LEI: 529900QKDFFU9UWW5315 | Long             | DBT              | NUSS              | GT        |     50000 | PA      | $48237.25     | 0.00%             | 2050-06-01      | Fixed         | 6.13%                 | No            |                  2 | On Loan: No      |
| Foundation Building Materials Holding Company LLC                | Foundation Building Materials Holding Company LLC 2024 Term Loan B2                                                          | CUSIP: 35039KAD8<br>LEI: 549300ZVE6MONHB01I28 | Long             | LON              | CORP              | US        |    512437 | PA      | $513077.32    | 0.02%             | 2031-01-29      | Floating      | 8.31%                 | No            |                  2 | On Loan: No      |
| WAYFAIR LLC                                                      | Wayfair LLC                                                                                                                  | CUSIP: 94419NAB3<br>LEI: 549300CTUWTZGOXMYI40 | Long             | DBT              | CORP              | US        |    430000 | PA      | $450960.54    | 0.02%             | 2030-09-15      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| PETRONAS CAPITAL LTD                                             | Petronas Capital Ltd                                                                                                         | CUSIP: 716743AP4<br>LEI: 549300G7YFX3540OYR85 | Long             | DBT              | CORP              | MY        |    100000 | PA      | $97221.68     | 0.00%             | 2030-04-21      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| FORD MOTOR CREDIT CO LLC                                         | Ford Motor Credit Co LLC                                                                                                     | CUSIP: 345397B51<br>LEI: UDSQCVRUX5BONN0VY111 | Long             | DBT              | CORP              | US        |   1030000 | PA      | $979252.28    | 0.04%             | 2028-02-16      | Fixed         | 2.90%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                       | Fannie Mae Pool                                                                                                              | CUSIP: 3140XFU74<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   6715540 | PA      | $5727707.65   | 0.26%             | 2052-02-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| METRO AG                                                         | METRO AG                                                                                                                     | CUSIP: 000000000<br>LEI: 5299006EQ03K3SSUYS12 | Long             | DBT              | CORP              | DE        |    175000 | PA      | $212918.37    | 0.01%             | 2030-03-05      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| ASCENT RESOURCES/ARU FIN                                         | Ascent Resources Utica Holdings LLC / ARU Finance Corp                                                                       | CUSIP: 04364VBA0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     60000 | PA      | $60999.69     | 0.00%             | 2033-07-15      | Fixed         | 6.63%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                       | Fannie Mae Pool                                                                                                              | CUSIP: 3138MRK67<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   1744249 | PA      | $1574582.68   | 0.07%             | 2043-01-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| European Union                                                   | European Union                                                                                                               | CUSIP: 000000000<br>LEI: 529900FZRK8FGMPEOM08 | Long             | DBT              | NUSS              | XX        |    349000 | PA      | $416402.02    | 0.02%             | 2028-04-04      | Fixed         | 2.88%                 | No            |                  2 | On Loan: No      |
| USIMINAS INTERNATIONAL                                           | Usiminas International Sarl                                                                                                  | CUSIP: 91734JAB6<br>LEI: 529900KLYX6QPXVIVP43 | Long             | DBT              | CORP              | LU        |    200000 | PA      | $205448.15    | 0.01%             | 2032-01-27      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| J&J Ventures Gaming, LLC                                         | J&J Ventures Gaming LLC 2025 Repriced Term Loan B                                                                            | CUSIP: 46604BAH1<br>LEI: 549300BYPH8FLKS5ZS70 | Long             | LON              | CORP              | US        |    497500 | PA      | $491903.13    | 0.02%             | 2030-04-26      | Floating      | 7.66%                 | No            |                  2 | On Loan: No      |
| HUNGARY                                                          | Hungary Government International Bond                                                                                        | CUSIP: 445545AQ9<br>LEI: 5299003F3UFKGCCMAP43 | Long             | DBT              | NUSS              | HU        |    100000 | PA      | $101625.47    | 0.00%             | 2034-06-16      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| XPO INC                                                          | XPO Inc                                                                                                                      | CUSIP: 98379KAB8<br>LEI: 54930096DB9LCLPN7H13 | Long             | DBT              | CORP              | US        |    100000 | PA      | $104628.20    | 0.00%             | 2031-06-01      | Fixed         | 7.13%                 | No            |                  2 | On Loan: No      |
| ANYWHERE RE GRP/REALOGY                                          | Anywhere Real Estate Group LLC / Realogy Co-Issuer Corp                                                                      | CUSIP: 75606DAV3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     65000 | PA      | $70936.65     | 0.00%             | 2030-04-15      | Fixed         | 9.75%                 | No            |                  2 | On Loan: No      |
| ECOPETROL SA                                                     | Ecopetrol SA                                                                                                                 | CUSIP: 279158AV1<br>LEI: 254900IDGKCJICKBPA66 | Long             | DBT              | CORP              | CO        |     50000 | PA      | $51639.16     | 0.00%             | 2036-01-19      | Fixed         | 8.38%                 | No            |                  2 | On Loan: No      |
| PROSUS NV                                                        | Prosus NV                                                                                                                    | CUSIP: 74365PAH1<br>LEI: 635400Z5LQ5F9OLVT688 | Long             | DBT              | CORP              | NL        |    500000 | PA      | $479380.74    | 0.02%             | 2032-01-19      | Fixed         | 4.19%                 | No            |                  2 | On Loan: No      |
| NXP BV/NXP FDG/NXP USA                                           | NXP BV / NXP Funding LLC / NXP USA Inc                                                                                       | CUSIP: 62954HBG2<br>LEI: N/A                  | Long             | DBT              | CORP              | XX        |    548000 | PA      | $548658.75    | 0.03%             | 2032-08-19      | Fixed         | 4.85%                 | No            |                  2 | On Loan: No      |
| AUSNET SERVICES HOLDINGS                                         | AusNet Services Holdings Pty Ltd                                                                                             | CUSIP: 000000000<br>LEI: TTMIG9TE1S0X3ZPDHD61 | Long             | DBT              | CORP              | AU        |    180000 | PA      | $126618.01    | 0.01%             | 2033-05-31      | Fixed         | 6.13%                 | No            |                  2 | On Loan: No      |
| NCL CORPORATION LTD                                              | NCL Corp Ltd                                                                                                                 | CUSIP: 62886HBZ3<br>LEI: UNZWILHE4KMRP9K2L524 | Long             | DBT              | CORP              | BM        |    275000 | PA      | $276423.34    | 0.01%             | 2033-09-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| Indonesia Government International Bonds                         | Indonesia Government International Bonds                                                                                     | CUSIP: 455780CF1<br>LEI: 529900FWX0GRR7WG5W79 | Long             | DBT              | NUSS              | ID        |    100000 | PA      | $100001.29    | 0.00%             | 2028-04-24      | Fixed         | 4.10%                 | No            |                  2 | On Loan: No      |
| JP Morgan Chase Commercial Mortgage Sec Trust                    | JP Morgan Chase Commercial Mortgage Securities Trust 2021-MHC                                                                | CUSIP: 466330AN7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    170000 | PA      | $170212.50    | 0.01%             | 2038-04-15      | Floating      | 6.97%                 | No            |                  2 | On Loan: No      |
| MISC CAPITAL TWO LABUAN                                          | MISC Capital Two Labuan Ltd                                                                                                  | CUSIP: 60475DAB7<br>LEI: 9845000ED8376T875113 | Long             | DBT              | CORP              | MY        |    200000 | PA      | $197864.43    | 0.01%             | 2027-04-06      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| ALERA GROUP INC                                                  | Alera Group Inc 2025 Term Loan                                                                                               | CUSIP: 01451PAB2<br>LEI: 2549003D76KZAKICNX26 | Long             | LON              | CORP              | US        |    295000 | PA      | $295964.65    | 0.01%             | 2032-05-31      | Floating      | 7.41%                 | No            |                  2 | On Loan: No      |
| UWM HOLDINGS LLC                                                 | UWM Holdings LLC                                                                                                             | CUSIP: 903522AB6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    205000 | PA      | $204023.66    | 0.01%             | 2031-03-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                       | Fannie Mae Pool                                                                                                              | CUSIP: 3140W2MT5<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    931618 | PA      | $761138.77    | 0.03%             | 2052-03-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| FORWARDS JP MORGAN BOC                                           | FORWARDS JP MORGAN BOC                                                                                                       | CUSIP: 000000000<br>LEI: N/A                  | Long             | STIV             | CORP              | US        |     70000 | NS      | $70000.00     | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| OCCIDENTAL PETROLEUM COR                                         | Occidental Petroleum Corp                                                                                                    | CUSIP: 674599EL5<br>LEI: IM7X0T3ECJW4C1T7ON55 | Long             | DBT              | CORP              | US        |    895000 | PA      | $908083.97    | 0.04%             | 2034-10-01      | Fixed         | 5.55%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                       | Fannie Mae Pool                                                                                                              | CUSIP: 3140XQXA0<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   1948886 | PA      | $1658331.15   | 0.08%             | 2052-04-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| HAWAIIAN ELEC CO                                                 | Hawaiian Electric Co Inc                                                                                                     | CUSIP: 419866AV0<br>LEI: 549300PQE8D806LWQV52 | Long             | DBT              | CORP              | US        |    100000 | PA      | $100869.23    | 0.00%             | 2033-10-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| NATWEST GROUP PLC                                                | NatWest Group PLC                                                                                                            | CUSIP: 000000000<br>LEI: 2138005O9XJIJN4JPN90 | Long             | DBT              | CORP              | GB        |    175000 | PA      | $248108.14    | 0.01%             | 2033-06-06      | Fixed         | 7.42%                 | No            |                  2 | On Loan: No      |
| Deutsche Bank Commercial Mortgage Trust                          | DBJPM 20-C9 Mortgage Trust                                                                                                   | CUSIP: 233063BC9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    100000 | PA      | $85012.91     | 0.00%             | 2053-08-15      | Fixed         | 2.57%                 | No            |                  2 | On Loan: No      |
| CORECIVIC INC                                                    | CoreCivic Inc                                                                                                                | CUSIP: 21871NAC5<br>LEI: 529900JFA3K6PTLT8B15 | Long             | DBT              | CORP              | US        |    300000 | PA      | $316937.10    | 0.01%             | 2029-04-15      | Fixed         | 8.25%                 | No            |                  2 | On Loan: No      |
| AGREE LP                                                         | Agree LP                                                                                                                     | CUSIP: 008513AA1<br>LEI: 549300DXY3G299V1BO77 | Long             | DBT              |  | US        |   2340000 | PA      | $2182097.15   | 0.10%             | 2030-10-01      | Fixed         | 2.90%                 | No            |                  2 | On Loan: No      |
| KINETIK HOLDINGS LP                                              | Kinetik Holdings LP                                                                                                          | CUSIP: 49461MAB6<br>LEI: 549300RD6AJIMYC0HY12 | Long             | DBT              | CORP              | US        |    250000 | PA      | $256605.50    | 0.01%             | 2028-12-15      | Fixed         | 6.63%                 | No            |                  2 | On Loan: No      |
| Dominos Pizza Master Issuer LLC                                  | Domino's Pizza Master Issuer LLC                                                                                             | CUSIP: 25755TAN0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |  14587500 | PA      | $13790401.07  | 0.63%             | 2051-04-25      | Fixed         | 2.66%                 | No            |                  2 | On Loan: No      |
| BX Trust                                                         | BX Commercial Mortgage Trust 2024-MDHS                                                                                       | CUSIP: 12433BAA5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    208354 | PA      | $208614.34    | 0.01%             | 2041-05-15      | Floating      | 5.79%                 | No            |                  2 | On Loan: No      |
| BAYTEX ENERGY CORP                                               | Baytex Energy Corp                                                                                                           | CUSIP: 07317QAK1<br>LEI: 549300R5LTV2H7I1I079 | Long             | DBT              | CORP              | CA        |    140000 | PA      | $137074.97    | 0.01%             | 2032-03-15      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| PK ALIFT LOAN FUNDING                                            | PK Alift Loan Funding 7 LP                                                                                                   | CUSIP: 69291NAA0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1415000 | PA      | $1415191.03   | 0.06%             | 2043-03-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                       | Fannie Mae Pool                                                                                                              | CUSIP: 3140QNNT5<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     32590 | PA      | $26715.57     | 0.00%             | 2052-03-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| SWCH Commercial Mortgage Trust                                   | SWCH Commercial Mortgage Trust 2025-DATA                                                                                     | CUSIP: 78489CAD1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    200000 | PA      | $199000.12    | 0.01%             | 2042-02-15      | Floating      | 6.79%                 | No            |                  2 | On Loan: No      |
| SHIFT4 PAYMENTS LLC/FIN                                          | Shift4 Payments LLC / Shift4 Payments Finance Sub Inc                                                                        | CUSIP: 82453AAB3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    135000 | PA      | $139575.29    | 0.01%             | 2032-08-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| ROMANIA                                                          | Romanian Government International Bond                                                                                       | CUSIP: 000000000<br>LEI: 315700IASY927EDWBK92 | Long             | DBT              | NUSS              | RO        |     25000 | PA      | $25076.68     | 0.00%             | 2031-07-16      | Fixed         | 2.12%                 | No            |                  2 | On Loan: No      |
| SUZANO NETHERLANDS BV                                            | Suzano Netherlands BV                                                                                                        | CUSIP: 86960YAA0<br>LEI: 9845009ZB9F5D6DB3602 | Long             | DBT              | CORP              | NL        |    100000 | PA      | $100100.00    | 0.00%             | 2036-01-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| VTR COMUNICACIONES SPA                                           | VTR Comunicaciones SpA                                                                                                       | CUSIP: 918367AA1<br>LEI: 213800XDZJKMC1AEUV94 | Long             | DBT              | CORP              | CL        |    150000 | PA      | $144750.00    | 0.01%             | 2028-01-15      | Fixed         | 5.13%                 | No            |                  2 | On Loan: No      |
| LOWE'S COS INC                                                   | Lowe's Cos Inc                                                                                                               | CUSIP: 548661EH6<br>LEI: WAFCR4OKGSC504WU3E95 | Long             | DBT              | CORP              | US        |   4590000 | PA      | $4390537.24   | 0.20%             | 2032-04-01      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| BNP Paribas SA                                                   | PURCHASED EUR / SOLD USD                                                                                                     | CUSIP: 000000000<br>LEI: R0MUWSFPU8MPRO8K5P83 | N/A              | DFE              |  | XX        |         1 | NC      | $-87.09       | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| DOTDASH MEREDITH INC                                             | Dotdash Meredith Inc 2025 Term Loan B                                                                                        | CUSIP: 25849KAH0<br>LEI: 549300R2AA7U9CJUQO13 | Long             | LON              | CORP              | US        |    175000 | PA      | $174417.25    | 0.01%             | 2032-06-17      | Floating      | 7.78%                 | No            |                  2 | On Loan: No      |
| MPT OPER PARTNERSP/FINL                                          | MPT Operating Partnership LP / MPT Finance Corp                                                                              | CUSIP: 55342UAM6<br>LEI: N/A                  | Long             | DBT              |  | US        |    250000 | PA      | $183877.30    | 0.01%             | 2031-03-15      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| CENTURY COMMUNITIES                                              | Century Communities Inc                                                                                                      | CUSIP: 156504AN2<br>LEI: 5299002QMB2O7ZL1CA26 | Long             | DBT              | CORP              | US        |    135000 | PA      | $136182.49    | 0.01%             | 2033-09-15      | Fixed         | 6.63%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                       | Fannie Mae Pool                                                                                                              | CUSIP: 3140KVBU3<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    439871 | PA      | $359395.50    | 0.02%             | 2050-12-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| ORACLE CORP                                                      | Oracle Corp                                                                                                                  | CUSIP: 68389XDM4<br>LEI: 1Z4GXXU7ZHVWFCD8TV52 | Long             | DBT              | CORP              | US        |   1015000 | PA      | $1020589.03   | 0.05%             | 2035-09-26      | Fixed         | 5.20%                 | No            |                  2 | On Loan: No      |
| COREWEAVE INC                                                    | CoreWeave Inc                                                                                                                | CUSIP: 21873SAC2<br>LEI: 984500511DP2B6186053 | Long             | DBT              | CORP              | US        |    290000 | PA      | $297214.91    | 0.01%             | 2031-02-01      | Fixed         | 9.00%                 | No            |                  2 | On Loan: No      |
| ORACLE CORP                                                      | Oracle Corp                                                                                                                  | CUSIP: 68389XDT9<br>LEI: 1Z4GXXU7ZHVWFCD8TV52 | Long             | DBT              | CORP              | US        |    808000 | PA      | $806511.96    | 0.04%             | 2065-09-26      | Fixed         | 6.10%                 | No            |                  2 | On Loan: No      |
| Wells Fargo Commercial Mortgage Trust                            | Wells Fargo Commercial Mortgage Trust 2025-5C4                                                                               | CUSIP: 949931AD1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   3997872 | PA      | $180865.32    | 0.01%             | 2058-05-15      | Variable      | 1.35%                 | No            |                  2 | On Loan: No      |
| COMSTOCK RESOURCES INC                                           | Comstock Resources Inc                                                                                                       | CUSIP: 205768AS3<br>LEI: I03QQGEA4SS774AURI46 | Long             | DBT              | CORP              | US        |    200000 | PA      | $199673.32    | 0.01%             | 2029-03-01      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| UWM HOLDINGS LLC                                                 | UWM Holdings LLC                                                                                                             | CUSIP: 903522AA8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    250000 | PA      | $254320.79    | 0.01%             | 2030-02-01      | Fixed         | 6.63%                 | No            |                  2 | On Loan: No      |
| TALLGRASS NRG PRTNR/FIN                                          | Tallgrass Energy Partners LP / Tallgrass Energy Finance Corp                                                                 | CUSIP: 87470LAD3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    300000 | PA      | $298473.81    | 0.01%             | 2028-01-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| ARDAGH METAL PACKAGING                                           | Ardagh Metal Packaging Finance USA LLC / Ardagh Metal Packaging Finance PLC                                                  | CUSIP: 03969YAC2<br>LEI: N/A                  | Long             | DBT              | CORP              | XX        |    140000 | PA      | $139966.23    | 0.01%             | 2027-06-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| STATE OF QATAR                                                   | Qatar Government International Bond                                                                                          | CUSIP: 74727PAV3<br>LEI: 52990074F6OJOAXK4P65 | Long             | DBT              | NUSS              | QA        |    200000 | PA      | $186397.68    | 0.01%             | 2046-06-02      | Fixed         | 4.63%                 | No            |                  2 | On Loan: No      |
| TRANSDIGM INC                                                    | TransDigm Inc                                                                                                                | CUSIP: 893647BY2<br>LEI: 88Q84GB3X55CF5OC7582 | Long             | DBT              | CORP              | US        |    265000 | PA      | $267979.38    | 0.01%             | 2033-05-31      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| SUNOCO LP                                                        | SUNOCO LP                                                                                                                    | CUSIP: 86765KAD1<br>LEI: 54930001NJU8E40NQ561 | Long             | DBT              | CORP              | US        |    250000 | PA      | $254460.56    | 0.01%             | 2033-07-01      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| STATE OF ISRAEL                                                  | State of Israel                                                                                                              | CUSIP: 46513JXN6<br>LEI: 213800T8ZHTFZIBYPE21 | Long             | DBT              | NUSS              | IL        |    150000 | PA      | $99507.53     | 0.00%             | 2050-01-15      | Fixed         | 3.38%                 | No            |                  2 | On Loan: No      |
| VFH PARENT / VALOR CO                                            | VFH Parent LLC / Valor Co-Issuer Inc                                                                                         | CUSIP: 91824YAA6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    110000 | PA      | $113771.24    | 0.01%             | 2031-06-15      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| CONSTRUCTION PARTNERS INC                                        | Construction Partners Inc Term Loan B                                                                                        | CUSIP: 21043XAH5<br>LEI: 549300MHLFL4E8JLZU44 | Long             | LON              | CORP              | US        |    248747 | PA      | $249291.62    | 0.01%             | 2031-11-03      | Floating      | 6.66%                 | No            |                  2 | On Loan: No      |
| Barclays Commercial Mortgage Securities LLC                      | BBCMS Mortgage Trust 2025-5C37                                                                                               | CUSIP: 05494NAH4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    144000 | PA      | $145671.03    | 0.01%             | 2058-09-15      | Variable      | 6.00%                 | No            |                  2 | On Loan: No      |
| OFFICE CHERIFIEN DES PHO                                         | OCP SA                                                                                                                       | CUSIP: 67091TAD7<br>LEI: 213800D26TAPVTCVWG40 | Long             | DBT              | CORP              | MA        |    200000 | PA      | $187556.40    | 0.01%             | 2031-06-23      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| SALLY HOLDINGS/SALLY CAP                                         | Sally Holdings LLC / Sally Capital Inc                                                                                       | CUSIP: 79546VAQ9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     65000 | PA      | $67574.65     | 0.00%             | 2032-03-01      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| CHILE ELECTRICITY LUX                                            | Chile Electricity Lux MPC Sarl                                                                                               | CUSIP: 168829AA7<br>LEI: N/A                  | Long             | DBT              | CORP              | LU        |    179000 | PA      | $187865.08    | 0.01%             | 2033-01-20      | Fixed         | 6.01%                 | No            |                  2 | On Loan: No      |
| CLUE OPCO LLC                                                    | Clue Opco LLC                                                                                                                | CUSIP: 36267QAA2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     80000 | PA      | $85559.12     | 0.00%             | 2031-10-15      | Fixed         | 9.50%                 | No            |                  2 | On Loan: No      |
| CHS/COMMUNITY HEALTH SYS                                         | CHS/Community Health Systems Inc                                                                                             | CUSIP: 12543DBM1<br>LEI: 5493007X5NC5XI1BB106 | Long             | DBT              | CORP              | US        |    667000 | PA      | $603397.67    | 0.03%             | 2030-05-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Bain Capital Credit CLO, Limited                                 | Bain Capital Credit CLO 2023-2 Ltd                                                                                           | CUSIP: 05684GAS5<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | JE        |   1402000 | PA      | $1406773.81   | 0.06%             | 2038-07-18      | Floating      | 5.55%                 | No            |                  2 | On Loan: No      |
| ZF NA CAPITAL                                                    | ZF North America Capital Inc                                                                                                 | CUSIP: 98877DAD7<br>LEI: 529900JYGMS9CW9IQX78 | Long             | DBT              | CORP              | US        |    100000 | PA      | $101383.50    | 0.00%             | 2028-04-14      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| GRUBHUB HOLDINGS INC                                             | GrubHub Holdings Inc                                                                                                         | CUSIP: 40010PAA6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |         0 | PA      | $0.00         | 0.00%             | 2027-07-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| LEVEL 3 FINANCING INC                                            | Level 3 Financing Inc                                                                                                        | CUSIP: 527298CN1<br>LEI: 254900AE5FEFIJOXWL19 | Long             | DBT              | CORP              | US        |    235000 | PA      | $239067.64    | 0.01%             | 2034-03-31      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF NIGERIA                                              | Nigeria Government International Bond                                                                                        | CUSIP: 65412JAA1<br>LEI: 549300GSBZD84TNEQ285 | Long             | DBT              | NUSS              | NG        |    150000 | PA      | $148651.52    | 0.01%             | 2032-02-16      | Fixed         | 7.88%                 | No            |                  2 | On Loan: No      |
| EAGLE FUNDING LUXCO SARL                                         | Eagle Funding Luxco Sarl                                                                                                     | CUSIP: 26951TAA8<br>LEI: 894500VDP08MVIZ6OA60 | Long             | DBT              | NUSS              | LU        |    210000 | PA      | $213057.60    | 0.01%             | 2030-08-17      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| NEWELL BRANDS INC                                                | Newell Brands Inc                                                                                                            | CUSIP: 651229BF2<br>LEI: 549300LWGYFM1TVO1Z12 | Long             | DBT              | CORP              | US        |    200000 | PA      | $198158.92    | 0.01%             | 2030-05-15      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| CAESARS ENTERTAIN INC                                            | Caesars Entertainment Inc                                                                                                    | CUSIP: 12769GAD2<br>LEI: 549300FA4CTCW903Y781 | Long             | DBT              | CORP              | US        |    250000 | PA      | $246239.95    | 0.01%             | 2032-10-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| FERTITTA ENTERTAINMENT                                           | Fertitta Entertainment LLC / Fertitta Entertainment Finance Co Inc                                                           | CUSIP: 31556TAC3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    480000 | PA      | $450447.76    | 0.02%             | 2030-01-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| CARVANA CO                                                       | Carvana Co                                                                                                                   | CUSIP: 146869AM4<br>LEI: 5493003WEAK2PJ5WS063 | Long             | DBT              | CORP              | US        |    524300 | PA      | $593627.14    | 0.03%             | 2031-06-01      | Fixed         | 9.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA RESOURCES CRP                                         | California Resources Corp                                                                                                    | CUSIP: 13057QAL1<br>LEI: 5493003Q8F0T4F4YMR48 | Long             | DBT              | CORP              | US        |     15000 | PA      | $14896.74     | 0.00%             | 2034-01-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| CROWN AMERICAS LLC                                               | Crown Americas LLC                                                                                                           | CUSIP: 228180AC9<br>LEI: RPPGGRL1J75WGF2DFO04 | Long             | DBT              | CORP              | US        |    190000 | PA      | $191921.12    | 0.01%             | 2033-06-01      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| NAVOIYURAN                                                       | Navoiyuran State Enterprise                                                                                                  | CUSIP: 85679AAA6<br>LEI: 254900ACNT2MA4KNLL55 | Long             | DBT              | CORP              | UZ        |    200000 | PA      | $200184.01    | 0.01%             | 2030-07-02      | Fixed         | 6.70%                 | No            |                  2 | On Loan: No      |
| New Arclin US Holding Corp                                       | New Arclin US Holding Corp 2021 Term Loan                                                                                    | CUSIP: 03880YAC8<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    498710 | PA      | $498929.13    | 0.02%             | 2028-09-30      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| SNAM SPA                                                         | Snam SpA                                                                                                                     | CUSIP: 83304JAB3<br>LEI: 8156002278562044AF79 | Long             | DBT              | CORP              | IT        |    200000 | PA      | $207201.65    | 0.01%             | 2035-05-28      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF UZBEKISTAN                                           | Republic of Uzbekistan International Bond                                                                                    | CUSIP: 91822Q2C0<br>LEI: 213800L6VDKUM3TCM927 | Long             | DBT              | NUSS              | UZ        |    100000 | PA      | $92335.54     | 0.00%             | 2030-11-25      | Fixed         | 3.70%                 | No            |                  2 | On Loan: No      |
| HTA GROUP LTD                                                    | HTA Group Ltd/Mauritius                                                                                                      | CUSIP: 40435WAC4<br>LEI: 213800WEFU8O8X6EPU13 | Long             | DBT              | CORP              | MU        |    220000 | PA      | $228207.00    | 0.01%             | 2029-06-04      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| AEROPUERTO INTL TOCUMEN                                          | Aeropuerto Internacional de Tocumen SA                                                                                       | CUSIP: 00787CAE2<br>LEI: 254900FO1PHX49ZIGB14 | Long             | DBT              | CORP              | PA        |    200000 | PA      | $158800.00    | 0.01%             | 2061-08-11      | Fixed         | 5.13%                 | No            |                  2 | On Loan: No      |
| New York Mortgage Trust                                          | NYMT Loan Trust 2025-CP1                                                                                                     | CUSIP: 67121VAA2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    587551 | PA      | $563269.33    | 0.03%             | 2069-11-25      | Variable      | 3.75%                 | No            |                  2 | On Loan: No      |
| ENERGUATE TRUST 2 0                                              | Energuate Trust 2 0                                                                                                          | CUSIP: 29277RAB1<br>LEI: 2549000ZL9MU01FZK194 | Long             | DBT              | CORP              | KY        |    200000 | PA      | $201377.24    | 0.01%             | 2035-09-15      | Fixed         | 6.35%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF ANGOLA                                               | Angolan Government International Bond                                                                                        | CUSIP: 035198AF7<br>LEI: 549300QHR2R3J8JSGK83 | Long             | DBT              | NUSS              | AO        |    200000 | PA      | $190745.35    | 0.01%             | 2032-04-14      | Fixed         | 8.75%                 | No            |                  2 | On Loan: No      |
| PROLOGIS INTL FUND II                                            | Prologis International Funding II SA                                                                                         | CUSIP: 000000000<br>LEI: 213800JNRWW2C9DWI388 | Long             | DBT              | CORP              | LU        |    275000 | PA      | $336035.51    | 0.02%             | 2036-07-01      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| BARRY CALLEBAUT SVCS NV                                          | Barry Callebaut Services NV                                                                                                  | CUSIP: 000000000<br>LEI: 213800R1F1EJYM4ICO85 | Long             | DBT              | CORP              | BE        |    300000 | PA      | $360028.66    | 0.02%             | 2031-08-19      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| CAIXABANK SA                                                     | CaixaBank SA                                                                                                                 | CUSIP: 12803RAC8<br>LEI: 7CUNS533WID6K7DGFI87 | Long             | DBT              | CORP              | ES        |    485000 | PA      | $540423.30    | 0.02%             | 2034-09-13      | Fixed         | 6.84%                 | No            |                  2 | On Loan: No      |
| UMBS, TBA                                                        | Uniform Mortgage-Backed Security, TBA                                                                                        | CUSIP: 01F0226A8<br>LEI: N/A                  | Short            | ABS-MBS          | USGSE             | US        | -12300000 | PA      | $-10360777.08 | -0.47%            | 2055-10-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| TGP Holdings III LLC                                             | TGP Holdings III LLC 2021 Term Loan                                                                                          | CUSIP: 87251RAK9<br>LEI: 549300LURVM6CQ1MNO41 | Long             | LON              | CORP              | US        |    309916 | PA      | $288770.77    | 0.01%             | 2028-06-29      | Floating      | 7.51%                 | No            |                  2 | On Loan: No      |
| HELP AT HOME INC                                                 | Help At Home Inc 2024 Term Loan B                                                                                            | CUSIP: 40467AAN9<br>LEI: 254900FFJQHW9R90FL74 | Long             | LON              | CORP              | US        |    597030 | PA      | $536019.50    | 0.02%             | 2031-09-24      | Floating      | 9.16%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                       | Fannie Mae REMICS                                                                                                            | CUSIP: 3136BQVT3<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   1848420 | PA      | $1861320.04   | 0.09%             | 2053-11-25      | Floating      | 5.86%                 | No            |                  2 | On Loan: No      |
| Modena Buyer LLC                                                 | Modena Buyer LLC Term Loan                                                                                                   | CUSIP: 60753DAC8<br>LEI: 254900B0G2IU0VBDOY26 | Long             | LON              | CORP              | US        |    748116 | PA      | $737963.65    | 0.03%             | 2031-07-01      | Floating      | 8.81%                 | No            |                  2 | On Loan: No      |
| GEN DIGITAL INC                                                  | Gen Digital Inc 2024 Term Loan B                                                                                             | CUSIP: 66877AAF5<br>LEI: YF6ZV0M6AU4FY94MK914 | Long             | LON              | CORP              | US        |    498060 | PA      | $496505.56    | 0.02%             | 2029-09-12      | Floating      | 5.91%                 | No            |                  2 | On Loan: No      |
| VB-S1 Issuer LLC                                                 | VB-S1 Issuer LLC - VBTEL                                                                                                     | CUSIP: 91823ABE0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    200000 | PA      | $202313.94    | 0.01%             | 2054-05-15      | Fixed         | 6.64%                 | No            |                  2 | On Loan: No      |
| ONEMAIN FINANCE CORP                                             | OneMain Finance Corp                                                                                                         | CUSIP: 85172FAN9<br>LEI: 5493008I795YYBFWFU90 | Long             | DBT              | CORP              | US        |    139000 | PA      | $140256.28    | 0.01%             | 2026-03-15      | Fixed         | 7.13%                 | No            |                  2 | On Loan: No      |
| United States Treasury                                           | U.S. Treasury Notes                                                                                                          | CUSIP: 91282CNX5<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  20700000 | PA      | $20593265.63  | 0.94%             | 2030-08-31      | Fixed         | 3.63%                 | No            |                  2 | On Loan: No      |
| JPMorgan Chase Bank NA                                           | LJH674000 SWAPTION                                                                                                           | CUSIP: 000000000<br>LEI: 7H6GLXDRUGQFU57RNE97 | N/A              | DIR              |  | US        |    570000 | NC      | $10932.39     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| NCL CORPORATION LTD                                              | NCL Corp Ltd                                                                                                                 | CUSIP: 62886HBR1<br>LEI: UNZWILHE4KMRP9K2L524 | Long             | DBT              | CORP              | BM        |    150000 | PA      | $154264.74    | 0.01%             | 2032-02-01      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| SREIT Trust                                                      | SREIT Trust 2021-PALM                                                                                                        | CUSIP: 85237AAN3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    100000 | PA      | $99576.80     | 0.00%             | 2034-10-15      | Floating      | 7.88%                 | No            |                  2 | On Loan: No      |
| ACOSTA INC                                                       | Acosta Inc 2024 Term Loan B                                                                                                  | CUSIP: 00485CAW7<br>LEI: 549300NKH5QUQILWWM10 | Long             | LON              | CORP              | US        |     34912 | PA      | $34650.22     | 0.00%             | 2031-08-21      | Floating      | 9.60%                 | No            |                  2 | On Loan: No      |
| STAPLES INC                                                      | Staples Inc 2024 Term Loan B                                                                                                 | CUSIP: 855031AU4<br>LEI: XQM2JINI1UL7642TU573 | Long             | LON              | CORP              | US        |    761231 | PA      | $720208.41    | 0.03%             | 2029-09-04      | Floating      | 10.05%                | No            |                  2 | On Loan: No      |
| GREENSAIF PIPELINES BIDC                                         | Greensaif Pipelines Bidco Sarl                                                                                               | CUSIP: 39541EAA1<br>LEI: 549300YWDGUXPB8GRP47 | Long             | DBT              | CORP              | LU        |    200000 | PA      | $212907.13    | 0.01%             | 2038-02-23      | Fixed         | 6.13%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                         | Ginnie Mae                                                                                                                   | CUSIP: 21H0306A7<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   5050000 | PA      | $4507509.66   | 0.21%             | 2055-10-20      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| UPX HIL 2025-1 Issuer Trust                                      | UPX HIL 2025-1 Issuer Trust                                                                                                  | CUSIP: 916925AB6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    200000 | PA      | $201427.98    | 0.01%             | 2047-01-25      | Fixed         | 6.07%                 | No            |                  2 | On Loan: No      |
| ROMANIA                                                          | Romanian Government International Bond                                                                                       | CUSIP: 77586RAL4<br>LEI: 315700IASY927EDWBK92 | Long             | DBT              | NUSS              | RO        |    100000 | PA      | $89075.44     | 0.00%             | 2032-03-27      | Fixed         | 3.63%                 | No            |                  2 | On Loan: No      |
| MH SUB I LLC                                                     | MH Sub I LLC 2024 Term Loan B4                                                                                               | CUSIP: 000000000<br>LEI: 2549005VFKP807SR8N49 | Long             | LON              | CORP              | US        |   1243734 | PA      | $1142680.92   | 0.05%             | 2031-12-31      | Floating      | 8.41%                 | No            |                  2 | On Loan: No      |
| CELANESE US HOLDINGS LLC                                         | Celanese US Holdings LLC                                                                                                     | CUSIP: 15089QAZ7<br>LEI: CD30XVRLT4QO00B1C706 | Long             | DBT              | CORP              | US        |    351000 | PA      | $353295.13    | 0.02%             | 2030-04-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Central Parent Inc                                               | Central Parent Inc 2024 Term Loan B                                                                                          | CUSIP: 15477BAE7<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    149622 | PA      | $129089.52    | 0.01%             | 2029-07-06      | Floating      | 7.25%                 | No            |                  2 | On Loan: No      |
| JPMORGAN CHASE & CO                                              | JPMorgan Chase & Co                                                                                                          | CUSIP: 46647PBL9<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | DBT              | CORP              | US        |   8190000 | PA      | $7596471.76   | 0.35%             | 2031-04-22      | Fixed         | 2.52%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                         | Ginnie Mae II Pool                                                                                                           | CUSIP: 36179SSP3<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    362770 | PA      | $328252.60    | 0.02%             | 2046-12-20      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Brand Industrial Services Inc                                    | Brand Industrial Services Inc 2024 Term Loan B                                                                               | CUSIP: 10524MAS6<br>LEI: 549300B658W2BPDQMW42 | Long             | LON              | CORP              | US        |   1044697 | PA      | $944406.05    | 0.04%             | 2030-08-01      | Floating      | 8.80%                 | No            |                  2 | On Loan: No      |
| IP 2025-IP Mortgage Trust                                        | IP 2025-IP Mortgage Trust                                                                                                    | CUSIP: 449843AL5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    200000 | PA      | $201948.70    | 0.01%             | 2042-06-10      | Variable      | 7.97%                 | No            |                  2 | On Loan: No      |
| KFW                                                              | Kreditanstalt fuer Wiederaufbau                                                                                              | CUSIP: 000000000<br>LEI: 549300GDPG70E3MBBU98 | Long             | DBT              | CORP              | DE        |    115000 | PA      | $139875.49    | 0.01%             | 2031-03-24      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| ALTICE FRANCE SA                                                 | Altice France SA                                                                                                             | CUSIP: 02156LAF8<br>LEI: 5493001ZMCICV4N02J21 | Long             | DBT              | CORP              | FR        |   1700000 | PA      | $1451800.00   | 0.07%             | 2029-07-15      | Fixed         | 5.13%                 | No            |                  2 | On Loan: No      |
| Nielsen Consumer Inc                                             | Nielsen Consumer Inc 2025 USD 1st Lien Term Loan                                                                             | CUSIP: 45674PAS3<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    248752 | PA      | $247818.75    | 0.01%             | 2030-10-31      | Floating      | 6.66%                 | No            |                  2 | On Loan: No      |
| BANCO BILBAO VIZCAYA ARG                                         | Banco Bilbao Vizcaya Argentaria SA                                                                                           | CUSIP: 05946KAR2<br>LEI: K8MS7FD7N5Z2WQ51AZ71 | Long             | DBT              | CORP              | ES        |    400000 | PA      | $425327.28    | 0.02%             | 2035-03-13      | Fixed         | 6.03%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                       | Fannie Mae Pool                                                                                                              | CUSIP: 3140QNEK4<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     19306 | PA      | $15856.43     | 0.00%             | 2052-02-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| BOOST NEWCO BORROWER LLC                                         | Boost Newco Borrower LLC                                                                                                     | CUSIP: 36268NAA8<br>LEI: 254900S8RE1OL7TTCU64 | Long             | DBT              | CORP              | US        |    300000 | PA      | $318268.20    | 0.01%             | 2031-01-15      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| WAYFAIR LLC                                                      | Wayfair LLC                                                                                                                  | CUSIP: 94419NAA5<br>LEI: 549300CTUWTZGOXMYI40 | Long             | DBT              | CORP              | US        |    396000 | PA      | $408292.10    | 0.02%             | 2029-10-31      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF PARAGUAY                                             | Paraguay Government International Bond                                                                                       | CUSIP: 699149AN0<br>LEI: 529900UXKJTJPCU0HK83 | Long             | DBT              | NUSS              | PY        |    200000 | PA      | $211880.00    | 0.01%             | 2036-02-09      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| UKRAINE GOVERNMENT                                               | Ukraine Government International Bond                                                                                        | CUSIP: 903724AW2<br>LEI: 6354001WLTJXOMEXPY07 | Long             | DBT              | NUSS              | UA        |     50000 | PA      | $39920.50     | 0.00%             | 2041-08-01      | Variable      | 7.75%                 | No            |                  2 | On Loan: No      |
| ELP 2021-ELP                                                     | ELP Commercial Mortgage Trust 2021-ELP                                                                                       | CUSIP: 26863LAQ7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    111074 | PA      | $110935.62    | 0.01%             | 2038-11-15      | Floating      | 7.38%                 | No            |                  2 | On Loan: No      |
| ECL ENTERTAINMENT LLC                                            | ECL Entertainment LLC 2025 Term Loan B                                                                                       | CUSIP: 26826TAM5<br>LEI: 254900UPSGHOBB360Z85 | Long             | LON              | CORP              | US        |    100000 | PA      | $99825.00     | 0.00%             | 2030-08-30      | Floating      | 7.16%                 | No            |                  2 | On Loan: No      |
| PRM Trust                                                        | PRM Trust 2025-PRM6                                                                                                          | CUSIP: 74277DAL6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    100000 | PA      | $99911.34     | 0.00%             | 2033-07-05      | Variable      | 7.29%                 | No            |                  2 | On Loan: No      |
| BAUSCH HEALTH AMERICAS                                           | Bausch Health Americas Inc                                                                                                   | CUSIP: 91911XAW4<br>LEI: KOO0397YRO83WY5MGD97 | Long             | DBT              | CORP              | US        |     85000 | PA      | $84150.00     | 0.00%             | 2027-01-31      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| DELL INT LLC / EMC CORP                                          | Dell International LLC / EMC Corp                                                                                            | CUSIP: 24703DBT7<br>LEI: 254900ZARLSVK41DKO78 | Long             | DBT              | CORP              | US        |   1173000 | PA      | $1167756.27   | 0.05%             | 2032-10-06      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| GEO GROUP INC/THE                                                | GEO Group Inc/The                                                                                                            | CUSIP: 36162JAH9<br>LEI: 54930024XOXET7NQVZ63 | Long             | DBT              | CORP              | US        |    200000 | PA      | $220063.60    | 0.01%             | 2031-04-15      | Fixed         | 10.25%                | No            |                  2 | On Loan: No      |
| SUBWAY FUNDING LLC                                               | Subway Funding LLC                                                                                                           | CUSIP: 864300AE8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   4962500 | PA      | $5179994.47   | 0.24%             | 2054-07-30      | Fixed         | 6.51%                 | No            |                  2 | On Loan: No      |
| Hamilton Projects Acquiror, LLC                                  | Hamilton Projects Acquiror LLC 2025 Repriced Term Loan B                                                                     | CUSIP: 000000000<br>LEI: 5493005K6XILIQ2EZY52 | Long             | LON              | CORP              | US        |     73351 | PA      | $73503.36     | 0.00%             | 2031-05-30      | Floating      | 6.66%                 | No            |                  2 | On Loan: No      |
| BRAVO Residential Funding Trust                                  | BRAVO Residential Funding Trust 2025-NQM5                                                                                    | CUSIP: 10569RAC6<br>LEI: 254900HGOJX787MBR512 | Long             | ABS-MBS          | CORP              | US        |    734517 | PA      | $741220.40    | 0.03%             | 2065-02-25      | Variable      | 5.50%                 | No            |                  2 | On Loan: No      |
| BENIN INTL GOV BOND                                              | Benin Government International Bond                                                                                          | CUSIP: 08205QAA6<br>LEI: 635400Q11P6AE5A5Y230 | Long             | DBT              | NUSS              | BJ        |    200000 | PA      | $204676.67    | 0.01%             | 2038-02-13      | Fixed         | 7.96%                 | No            |                  2 | On Loan: No      |
| GGAM FINANCE LTD                                                 | GGAM Finance Ltd                                                                                                             | CUSIP: 36170JAE6<br>LEI: 254900X2QXEN0FVXRF65 | Long             | DBT              | CORP              | KY        |    200000 | PA      | $202499.31    | 0.01%             | 2030-03-15      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| Alliant Holdings Intermediate, LLC                               | Alliant Holdings Intermediate LLC 2025 Term Loan B                                                                           | CUSIP: 01881UAN5<br>LEI: 5493006Q26653NF8SI73 | Long             | LON              | CORP              | US        |     54862 | PA      | $54703.40     | 0.00%             | 2031-09-19      | Floating      | 6.67%                 | No            |                  2 | On Loan: No      |
| WR GRACE HOLDING LLC                                             | WR Grace Holdings LLC                                                                                                        | CUSIP: 92943GAF8<br>LEI: 549300WNOVFRGYOAEB12 | Long             | DBT              | CORP              | US        |    205000 | PA      | $202699.90    | 0.01%             | 2032-08-15      | Fixed         | 6.63%                 | No            |                  2 | On Loan: No      |
| TRONOX INC                                                       | Tronox Inc                                                                                                                   | CUSIP: 897051AC2<br>LEI: 549300EPZ4YXC7E5P181 | Long             | DBT              | CORP              | US        |    405000 | PA      | $264159.91    | 0.01%             | 2029-03-15      | Fixed         | 4.63%                 | No            |                  2 | On Loan: No      |
| NATGASOLINE LLC                                                  | Natgasoline LLC 2025 Term Loan B                                                                                             | CUSIP: 63232EAD9<br>LEI: 549300OHXDYMQYZOWC24 | Long             | LON              | CORP              | US        |   1036875 | PA      | $1046383.14   | 0.05%             | 2030-03-29      | Floating      | 9.50%                 | No            |                  2 | On Loan: No      |
| HILTON DOMESTIC OPERATIN                                         | Hilton Domestic Operating Co Inc                                                                                             | CUSIP: 432833AQ4<br>LEI: 5493003EG7H0N1E4XV50 | Long             | DBT              | CORP              | US        |    100000 | PA      | $102803.10    | 0.00%             | 2032-04-01      | Fixed         | 6.13%                 | No            |                  2 | On Loan: No      |
| United States Treasury                                           | U.S. Treasury Bonds                                                                                                          | CUSIP: 912810UG1<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        | 102180000 | PA      | $100439746.88 | 4.60%             | 2055-02-15      | Fixed         | 4.63%                 | No            |                  2 | On Loan: No      |
| BX Trust                                                         | BX Commercial Mortgage Trust 2024-XL5                                                                                        | CUSIP: 05612GAA1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   5600857 | PA      | $5604335.42   | 0.26%             | 2041-03-15      | Floating      | 5.54%                 | No            |                  2 | On Loan: No      |
| CITGO PETROLEUM CORP                                             | CITGO Petroleum Corp                                                                                                         | CUSIP: 17302XAM8<br>LEI: YX52P86PXMLYDOTUQ225 | Long             | DBT              | CORP              | US        |    200000 | PA      | $199988.70    | 0.01%             | 2026-06-15      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS GROUP INC                                          | Goldman Sachs Group Inc/The                                                                                                  | CUSIP: 38141GB78<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | DBT              | CORP              | US        |   3400000 | PA      | $3422605.89   | 0.16%             | 2035-10-23      | Fixed         | 5.02%                 | No            |                  2 | On Loan: No      |
| FTAI AVIATION INVESTORS                                          | FTAI Aviation Investors LLC                                                                                                  | CUSIP: 34960PAE1<br>LEI: 529900E7PUVK6BC8PE80 | Long             | DBT              | CORP              | US        |    150000 | PA      | $159397.05    | 0.01%             | 2030-12-01      | Fixed         | 7.88%                 | No            |                  2 | On Loan: No      |
| OLIN CORP                                                        | Olin Corp                                                                                                                    | CUSIP: 680665AN6<br>LEI: 549300GKK294V7W57P06 | Long             | DBT              | CORP              | US        |    265000 | PA      | $266366.87    | 0.01%             | 2033-04-01      | Fixed         | 6.63%                 | No            |                  2 | On Loan: No      |
| MAYA SAS/FRANCE                                                  | Maya SAS/Paris France                                                                                                        | CUSIP: 449691AG9<br>LEI: 9695009PXA7OI9NXN582 | Long             | DBT              | CORP              | FR        |    150000 | PA      | $152970.60    | 0.01%             | 2032-04-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| STONEPEAK NILE PARENT                                            | Stonepeak Nile Parent LLC                                                                                                    | CUSIP: 861932AA9<br>LEI: 254900TJV3VAFZD0GU41 | Long             | DBT              | CORP              | US        |    125000 | PA      | $131629.00    | 0.01%             | 2032-03-15      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| Goldman Sachs & Co. LLC                                          | Long: LRC256000 CDS USD R V 01MEVENT LRC256000_PRO CMBX / Short: LRC256000 CDS USD P F   .50000 LRC256000_FEE CMBX           | CUSIP: 000000000<br>LEI: FOR8UP27PHTHYVLBNG30 | N/A              | DCR              |  | US        |    100000 | OU      | $1337.67      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| BX Trust                                                         | BX Trust 2025-VLT6                                                                                                           | CUSIP: 12433KAJ6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    383000 | PA      | $382162.49    | 0.02%             | 2042-03-15      | Floating      | 7.34%                 | No            |                  2 | On Loan: No      |
| OLEODUCTO CENTRAL SA                                             | Oleoducto Central SA                                                                                                         | CUSIP: 680617AC1<br>LEI: 254900W4CPYCQFVH5E92 | Long             | DBT              | CORP              | CO        |    100000 | PA      | $98308.53     | 0.00%             | 2027-07-14      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| UMBS, TBA                                                        | Uniform Mortgage-Backed Security, TBA                                                                                        | CUSIP: 01F0226A8<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |  12300000 | PA      | $10360777.08  | 0.47%             | 2055-10-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                       | Fannie Mae Pool                                                                                                              | CUSIP: 3140QNNX6<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     22933 | PA      | $18835.34     | 0.00%             | 2052-03-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| CLEAR CHANNEL OUTDOOR HO                                         | Clear Channel Outdoor Holdings Inc                                                                                           | CUSIP: 18453HAH9<br>LEI: 254900XBEE6V1ENYS150 | Long             | DBT              | CORP              | US        |    200000 | PA      | $209113.80    | 0.01%             | 2033-03-15      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| VIER GAS TRANSPORT GMBH                                          | Vier Gas Transport GmbH                                                                                                      | CUSIP: 000000000<br>LEI: 529900AGED6PJE9AVL37 | Long             | DBT              | CORP              | DE        |    200000 | PA      | $234840.66    | 0.01%             | 2033-09-08      | Fixed         | 3.63%                 | No            |                  2 | On Loan: No      |
| GRAPHIC PACKAGING INTERN                                         | Graphic Packaging International LLC                                                                                          | CUSIP: 38869AAE7<br>LEI: SO75N4VY5NXGQSK8YQ65 | Long             | DBT              | CORP              | US        |    100000 | PA      | $101546.70    | 0.00%             | 2032-07-15      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| FannieMae Grantor Trust                                          | Fannie Mae Grantor Trust 2004-T1                                                                                             | CUSIP: 31393XFT9<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      1114 | PA      | $1156.10      | 0.00%             | 2044-01-25      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| FORWARDS JP MORGAN BOC                                           | FORWARDS JP MORGAN BOC                                                                                                       | CUSIP: 000000000<br>LEI: N/A                  | Short            | STIV             | CORP              | US        |    -69950 | NS      | $-69950.00    | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| GOLAR LNG LTD                                                    | Golar LNG Ltd                                                                                                                | CUSIP: 000000000<br>LEI: 213800C2VSFZG3EZLO34 | Long             | DBT              | CORP              | BM        |    400000 | PA      | $403767.86    | 0.02%             | 2029-09-19      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| BNP Paribas SA                                                   | Long: LFQ707000 CDS EUR R V 03MEVENT LFQ707000_PRO CORPORATE / Short: LFQ707000 CDS EUR P F  1.00000 LFQ707000_FEE CORPORATE | CUSIP: 000000000<br>LEI: R0MUWSFPU8MPRO8K5P83 | N/A              | DCR              |  | US        |    200000 | OU      | $2146.70      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| June Purchaser LLC                                               | June Purchaser LLC Term Loan                                                                                                 | CUSIP: 48171UAB1<br>LEI: N/A                  | Long             | LON              | CORP              | US        |         0 | PA      | $0.00         | 0.00%             | 2031-11-28      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| EUROPEAN INVESTMENT BANK                                         | European Investment Bank                                                                                                     | CUSIP: 000000000<br>LEI: 5493006YXS1U5GIHE750 | Long             | DBT              | NUSS              | XX        |     80000 | PA      | $93171.16     | 0.00%             | 2035-06-18      | Fixed         | 2.88%                 | No            |                  2 | On Loan: No      |
| TEVA PHARMACEUTICALS NE                                          | Teva Pharmaceutical Finance Netherlands III BV                                                                               | CUSIP: 88167AAT8<br>LEI: 5493004T21MOAFINJP35 | Long             | DBT              | CORP              | NL        |    330000 | PA      | $343690.38    | 0.02%             | 2032-12-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF MONTENEGRO                                           | Montenegro Government International Bond                                                                                     | CUSIP: 857305AA4<br>LEI: 747800V014106FYLL014 | Long             | DBT              | NUSS              | ME        |    200000 | PA      | $213283.94    | 0.01%             | 2031-03-12      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| DARKTRACE PLC                                                    | Darktrace PLC 1st Lien Term Loan                                                                                             | CUSIP: 52526CAB5<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    497500 | PA      | $497116.93    | 0.02%             | 2031-10-09      | Floating      | 7.57%                 | No            |                  2 | On Loan: No      |
| Affirm Inc                                                       | Affirm Asset Securitization Trust 2025-X1                                                                                    | CUSIP: 00834MAB9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1000000 | PA      | $1003782.50   | 0.05%             | 2030-04-15      | Fixed         | 5.19%                 | No            |                  2 | On Loan: No      |
| INTESA SANPAOLO SPA                                              | Intesa Sanpaolo SpA                                                                                                          | CUSIP: 46115HBZ9<br>LEI: 2W8N8UU78PMDQKZENC08 | Long             | DBT              | CORP              | IT        |    200000 | PA      | $220144.16    | 0.01%             | 2033-06-20      | Fixed         | 6.63%                 | No            |                  2 | On Loan: No      |
| VALLOUREC SACA                                                   | Vallourec SACA                                                                                                               | CUSIP: 92023RAA8<br>LEI: 969500P2Q1B47H4MCJ34 | Long             | DBT              | CORP              | FR        |    314000 | PA      | $334556.01    | 0.02%             | 2032-04-15      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| Win Waste Innovations Holdings Inc                               | WIN Waste Innovations Holdings Inc 2021 Term Loan B                                                                          | CUSIP: 38723BAJ0<br>LEI: 549300DJBUN7Z75R2S83 | Long             | LON              | CORP              | US        |    451225 | PA      | $450381.69    | 0.02%             | 2028-03-24      | Floating      | 7.03%                 | No            |                  2 | On Loan: No      |
| HSBC HOLDINGS PLC                                                | HSBC Holdings PLC                                                                                                            | CUSIP: 404280DV8<br>LEI: MLU0ZO3ML4LN2LL2TL39 | Long             | DBT              | CORP              | GB        |    420000 | PA      | $457427.30    | 0.02%             | 2034-03-09      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| Applied Systems Inc                                              | Applied Systems Inc 2024 1st Lien Term Loan                                                                                  | CUSIP: 03827FBD2<br>LEI: 549300NSKGF0SY5SWQ62 | Long             | LON              | CORP              | US        |    303612 | PA      | $303697.51    | 0.01%             | 2031-02-24      | Floating      | 6.25%                 | No            |                  2 | On Loan: No      |
| NORTHUMBRIAN WATER FIN                                           | Northumbrian Water Finance PLC                                                                                               | CUSIP: 000000000<br>LEI: 213800JTFA6F3S7XX781 | Long             | DBT              | CORP              | GB        |    185000 | PA      | $240127.42    | 0.01%             | 2031-02-14      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| SLM CORP                                                         | SLM Corp                                                                                                                     | CUSIP: 78442PGF7<br>LEI: 4K8SLPBF5DXXGPW03H93 | Long             | DBT              | CORP              | US        |    125000 | PA      | $130258.42    | 0.01%             | 2030-01-31      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                       | Fannie Mae Pool                                                                                                              | CUSIP: 3140J9FX4<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   1545817 | PA      | $1611215.79   | 0.07%             | 2044-05-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF INDONESIA                                            | Indonesia Government International Bond                                                                                      | CUSIP: 455780AZ9<br>LEI: 529900FWX0GRR7WG5W79 | Long             | DBT              | NUSS              | ID        |    200000 | PA      | $246723.72    | 0.01%             | 2038-01-17      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| T-MOBILE USA INC                                                 | T-Mobile USA Inc                                                                                                             | CUSIP: 87264ABF1<br>LEI: 549300V2JRLO5DIFGE82 | Long             | DBT              | CORP              | US        |   4430000 | PA      | $4344007.19   | 0.20%             | 2030-04-15      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| BX Trust                                                         | BX Trust 2025-VLT6                                                                                                           | CUSIP: 12433KAL1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    256000 | PA      | $252316.65    | 0.01%             | 2042-03-15      | Floating      | 8.09%                 | No            |                  2 | On Loan: No      |
| SASOL FINANCING USA LLC                                          | Sasol Financing USA LLC                                                                                                      | CUSIP: 80386WAF2<br>LEI: 549300XRB1PFMESFEL85 | Long             | DBT              | CORP              | US        |    200000 | PA      | $207470.20    | 0.01%             | 2029-05-03      | Fixed         | 8.75%                 | No            |                  2 | On Loan: No      |
| SCG Hotel Issuer Inc                                             | SCG Trust 2025-SNIP                                                                                                          | CUSIP: 78398JAJ3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    159000 | PA      | $159395.80    | 0.01%             | 2030-09-15      | Floating      | 7.65%                 | No            |                  2 | On Loan: No      |
| UKRAINE GOVERNMENT                                               | Ukraine Government International Bond                                                                                        | CUSIP: 903724CB6<br>LEI: 6354001WLTJXOMEXPY07 | Long             | DBT              | NUSS              | UA        |    139990 | PA      | $77292.74     | 0.00%             | 2035-02-01      | Variable      | 4.50%                 | No            |                  2 | On Loan: No      |
| SASOL FINANCING USA LLC                                          | Sasol Financing USA LLC                                                                                                      | CUSIP: 80386WAC9<br>LEI: 549300XRB1PFMESFEL85 | Long             | DBT              | CORP              | US        |    270000 | PA      | $268581.45    | 0.01%             | 2026-09-18      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| ENERGEAN PLC                                                     | Energean PLC                                                                                                                 | CUSIP: 29280EAA7<br>LEI: 549300RVMKU0CYUZBB05 | Long             | DBT              | CORP              | GB        |    450000 | PA      | $447187.50    | 0.02%             | 2027-04-30      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| ABU DHABI NATIONAL ENERG                                         | Abu Dhabi National Energy Co PJSC                                                                                            | CUSIP: 00388WAP6<br>LEI: 213800UNJSVQFNUYYW03 | Long             | DBT              | CORP              | AE        |    200000 | PA      | $198445.88    | 0.01%             | 2037-03-09      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| TECPETROL S.A.                                                   | Tecpetrol SA                                                                                                                 | CUSIP: 87876TAG9<br>LEI: 529900C0GOV3UC7ZMZ16 | Long             | DBT              | CORP              | AR        |     50000 | PA      | $50950.00     | 0.00%             | 2033-01-22      | Fixed         | 7.63%                 | No            |                  2 | On Loan: No      |
| HILTON DOMESTIC OPERATIN                                         | Hilton Domestic Operating Co Inc                                                                                             | CUSIP: 432833AS0<br>LEI: 5493003EG7H0N1E4XV50 | Long             | DBT              | CORP              | US        |    135000 | PA      | $136802.25    | 0.01%             | 2033-09-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| BX Trust                                                         | BX Trust 2025-TAIL                                                                                                           | CUSIP: 123912AA5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    496000 | PA      | $495224.06    | 0.02%             | 2035-06-15      | Floating      | 5.55%                 | No            |                  2 | On Loan: No      |
| Greensky Home Improvement Issuer Trust                           | GreenSky Home Improvement Issuer Trust 2025-2                                                                                | CUSIP: 39571VAB4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    399102 | PA      | $400615.20    | 0.02%             | 2060-06-25      | Fixed         | 4.93%                 | No            |                  2 | On Loan: No      |
| BROADCOM INC                                                     | Broadcom Inc                                                                                                                 | CUSIP: 11135FBX8<br>LEI: 549300WV6GIDOZJTV909 | Long             | DBT              | CORP              | US        |   3330000 | PA      | $3430185.88   | 0.16%             | 2029-07-12      | Fixed         | 5.05%                 | No            |                  2 | On Loan: No      |
| RYAN SPECIALTY GROUP LLC                                         | Ryan Specialty Group LLC 2024 USD Term Loan B                                                                                | CUSIP: 78350UAJ4<br>LEI: 549300K52N7QBO3PYY45 | Long             | LON              | CORP              | US        |    248747 | PA      | $248669.75    | 0.01%             | 2031-09-15      | Floating      | 6.16%                 | No            |                  2 | On Loan: No      |
| JANE STREET GROUP LLC                                            | Jane Street Group LLC 2024 Term Loan B1                                                                                      | CUSIP: 47077DAM2<br>LEI: 5493002N1IVX6KHGYO08 | Long             | LON              | CORP              | US        |    566555 | PA      | $561835.36    | 0.03%             | 2031-12-15      | Floating      | 6.20%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                       | Fannie Mae Pool                                                                                                              | CUSIP: 3140Q8J48<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   1722905 | PA      | $1609026.91   | 0.07%             | 2048-02-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF PARAGUAY                                             | Paraguay Government International Bond                                                                                       | CUSIP: 699149BY5<br>LEI: 529900UXKJTJPCU0HK83 | Long             | DBT              | NUSS              | PY        |    200000 | PA      | $212590.00    | 0.01%             | 2055-03-04      | Fixed         | 6.65%                 | No            |                  2 | On Loan: No      |
| CODELCO INC                                                      | Corp Nacional del Cobre de Chile                                                                                             | CUSIP: 21987BBG2<br>LEI: 549300UVMBCBCIPSUI70 | Long             | DBT              | CORP              | CL        |    200000 | PA      | $209980.79    | 0.01%             | 2034-01-08      | Fixed         | 5.95%                 | No            |                  2 | On Loan: No      |
| Barclays Commercial Mortgage Securities LLC                      | BBCMS Mortgage Trust 2024-C30                                                                                                | CUSIP: 05493YAH1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    100000 | PA      | $100271.77    | 0.00%             | 2057-11-15      | Variable      | 5.98%                 | No            |                  2 | On Loan: No      |
| DISCO PARENT INC                                                 | Disco Parent Inc 2025 Term Loan B                                                                                            | CUSIP: 000000000<br>LEI: 2549003DLSZ9JWHH1Q80 | Long             | LON              | CORP              | US        |     65000 | PA      | $65162.50     | 0.00%             | 2032-08-06      | Floating      | 7.48%                 | No            |                  2 | On Loan: No      |
| MINERVA LUXEMBOURG SA                                            | Minerva Luxembourg SA                                                                                                        | CUSIP: 603374AH2<br>LEI: 222100NM3G3RCPGZ2Z17 | Long             | DBT              | CORP              | LU        |    100000 | PA      | $109811.87    | 0.01%             | 2033-09-13      | Fixed         | 8.88%                 | No            |                  2 | On Loan: No      |
| INVERSIONES CMPC SA                                              | Inversiones CMPC SA                                                                                                          | CUSIP: 46128MAU5<br>LEI: 549300G475ACIABB4385 | Long             | DBT              | CORP              | CL        |    200000 | PA      | $204300.00    | 0.01%             | 2057-12-09      | Fixed         | 6.70%                 | No            |                  2 | On Loan: No      |
| AVIS BUDGET CAR/FINANCE                                          | Avis Budget Car Rental LLC / Avis Budget Finance Inc                                                                         | CUSIP: 053773BK2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     95000 | PA      | $99365.35     | 0.00%             | 2032-06-15      | Fixed         | 8.38%                 | No            |                  2 | On Loan: No      |
| CSC Holdings LLC                                                 | CSC Holdings LLC 2022 Term Loan B6                                                                                           | CUSIP: 64072UAM4<br>LEI: 3HG2WD2W22M120IUNG49 | Long             | LON              | CORP              | US        |     79795 | PA      | $79231.25     | 0.00%             | 2028-01-18      | Floating      | 8.65%                 | No            |                  2 | On Loan: No      |
| MetroNet Infrastructure Issuer LLC                               | MetroNet Infrastructure Issuer LLC                                                                                           | CUSIP: 59170JBB3<br>LEI: 5493000BIROCAEATAQ61 | Long             | ABS-O            | CORP              | US        |    100000 | PA      | $101486.30    | 0.00%             | 2055-08-20      | Fixed         | 7.83%                 | No            |                  2 | On Loan: No      |
| ICAHN ENTERPRISES/FIN                                            | Icahn Enterprises LP / Icahn Enterprises Finance Corp                                                                        | CUSIP: 451102BZ9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    400000 | PA      | $393178.48    | 0.02%             | 2027-05-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| GREENSAIF PIPELINES BIDC                                         | Greensaif Pipelines Bidco Sarl                                                                                               | CUSIP: 39541EAC7<br>LEI: 549300YWDGUXPB8GRP47 | Long             | DBT              | CORP              | LU        |    200000 | PA      | $216296.23    | 0.01%             | 2042-02-23      | Fixed         | 6.51%                 | No            |                  2 | On Loan: No      |
| UMBS, TBA                                                        | Uniform Mortgage-Backed Security, TBA                                                                                        | CUSIP: 01F0506A9<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |    600000 | PA      | $594994.30    | 0.03%             | 2055-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Allegro CLO Ltd                                                  | Allegro CLO XIII Ltd                                                                                                         | CUSIP: 01750WAQ2<br>LEI: 254900E6QZJ305P65V74 | Long             | ABS-CBDO         | CORP              | KY        |    511000 | PA      | $512295.39    | 0.02%             | 2038-07-20      | Floating      | 5.66%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                      | Freddie Mac Pool                                                                                                             | CUSIP: 3142GU3E1<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   1928561 | PA      | $2032285.76   | 0.09%             | 2055-06-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| CITYCON TREASURY BV                                              | Citycon Treasury BV                                                                                                          | CUSIP: 000000000<br>LEI: 549300WAE0CGQ0IE1H63 | Long             | DBT              | CORP              | NL        |    100000 | PA      | $118057.73    | 0.01%             | 2031-07-08      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| CCO HLDGS LLC/CAP CORP                                           | CCO Holdings LLC / CCO Holdings Capital Corp                                                                                 | CUSIP: 1248EPCB7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    135000 | PA      | $134099.77    | 0.01%             | 2029-06-01      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| CIA DE MINAS BUENAVENTUR                                         | Cia de Minas Buenaventura SAA                                                                                                | CUSIP: 204448AB0<br>LEI: 529900WQB1ZU9KB6EL71 | Long             | DBT              | CORP              | PE        |    200000 | PA      | $205680.00    | 0.01%             | 2032-02-04      | Fixed         | 6.80%                 | No            |                  2 | On Loan: No      |
| DOMINICAN REPUBLIC                                               | Dominican Republic International Bond                                                                                        | CUSIP: 25714PEG9<br>LEI: 254900EHU7Q8FGVPI369 | Long             | DBT              | NUSS              | DO        |    100000 | PA      | $90300.00     | 0.00%             | 2041-01-21      | Fixed         | 5.30%                 | No            |                  2 | On Loan: No      |
| SCOTTISH HYDRO ELECTRIC                                          | Scottish Hydro Electric Transmission PLC                                                                                     | CUSIP: 000000000<br>LEI: 549300ECJZDA7203MK64 | Long             | DBT              | CORP              | GB        |    175000 | PA      | $205654.03    | 0.01%             | 2032-09-04      | Fixed         | 3.38%                 | No            |                  2 | On Loan: No      |
| DAR AL-ARKAN SUKUK CO LT                                         | Dar Al-Arkan Sukuk Co Ltd                                                                                                    | CUSIP: 000000000<br>LEI: 5493000UYHRBXEIYUQ69 | Long             | DBT              | CORP              | KY        |    200000 | PA      | $203354.75    | 0.01%             | 2030-07-02      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                      | Freddie Mac Pool                                                                                                             | CUSIP: 3132DQ2W5<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   2719277 | PA      | $2212985.92   | 0.10%             | 2052-03-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| PRIMA Capital LTD                                                | Prima Capital CRE Securitization 2019-RK1 Ltd                                                                                | CUSIP: 74166GAJ8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | KY        |    100000 | PA      | $94419.81     | 0.00%             | 2038-04-15      | Fixed         | 4.45%                 | No            |                  2 | On Loan: No      |
| CIMIC Finance Ltd.                                               | CIMIC Finance Ltd.                                                                                                           | CUSIP: 000000000<br>LEI: 213800SWJBM5VMCQJW54 | Long             | DBT              | CORP              | AU        |    124000 | PA      | $135182.02    | 0.01%             | 2029-05-28      | Fixed         | 1.50%                 | No            |                  2 | On Loan: No      |
| CARNIVAL CORP                                                    | Carnival Corp                                                                                                                | CUSIP: 143658BY7<br>LEI: F1OF2ZSX47CR0BCWA982 | Long             | DBT              | CORP              | PA        |    275000 | PA      | $280771.15    | 0.01%             | 2030-03-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| MONG DUONG FIN HLDGS BV                                          | Mong Duong Finance Holdings BV                                                                                               | CUSIP: 60935DAA3<br>LEI: 549300995KGQFMWSV879 | Long             | DBT              | CORP              | NL        |     67760 | PA      | $67018.21     | 0.00%             | 2029-05-07      | Fixed         | 5.13%                 | No            |                  2 | On Loan: No      |
| CIFC Funding Ltd                                                 | CIFC Funding 2019-V Ltd                                                                                                      | CUSIP: 12554XAY8<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   1242000 | PA      | $1244943.54   | 0.06%             | 2038-10-15      | Floating      | 5.36%                 | No            |                  2 | On Loan: No      |
| Wells Fargo Commercial Mortgage Trust                            | Wells Fargo Commercial Mortgage Trust 2020-C57                                                                               | CUSIP: 95002XBG9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    299000 | PA      | $271484.70    | 0.01%             | 2053-08-15      | Variable      | 4.16%                 | No            |                  2 | On Loan: No      |
| BNP Paribas SA                                                   | PURCHASED USD / SOLD EUR                                                                                                     | CUSIP: 000000000<br>LEI: R0MUWSFPU8MPRO8K5P83 | N/A              | DFE              |  | US        |         1 | NC      | $144619.02    | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| UNITI GROUP/CSL CAPITAL                                          | Uniti Group LP / Uniti Group Finance 2019 Inc / CSL Capital LLC                                                              | CUSIP: 91327TAC5<br>LEI: N/A                  | Long             | DBT              |  | US        |    165000 | PA      | $157633.13    | 0.01%             | 2032-06-15      | Fixed         | 8.63%                 | No            |                  2 | On Loan: No      |
| JEFFERIES FIN LLC / JFIN                                         | Jefferies Finance LLC / JFIN Co-Issuer Corp                                                                                  | CUSIP: 47232MAG7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    140000 | PA      | $140932.22    | 0.01%             | 2031-10-15      | Fixed         | 6.63%                 | No            |                  2 | On Loan: No      |
| United States Treasury                                           | U.S. Treasury Notes                                                                                                          | CUSIP: 91282CJZ5<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   1702000 | PA      | $1697545.54   | 0.08%             | 2034-02-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| ALPHA STAR HO IX LTD                                             | Alpha Star Holding IX Ltd                                                                                                    | CUSIP: 000000000<br>LEI: 254900IL2SBV9ANGBE89 | Long             | DBT              | CORP              | AE        |    200000 | PA      | $204809.08    | 0.01%             | 2028-08-26      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| PLAINS ALL AMERICAN PIPE                                         | Plains All American Pipeline LP                                                                                              | CUSIP: 726503AE5<br>LEI: 5521FA2ITF25TVH63740 | Long             | DBT              | CORP              | US        |    940000 | PA      | $941409.06    | 0.04%             | 2025-10-30      | Variable      | 8.58%                 | No            |                  2 | On Loan: No      |
| STARWOOD PROPERTY TRUST                                          | Starwood Property Trust Inc                                                                                                  | CUSIP: 85571BBD6<br>LEI: BUGSFQZERKRBFWIG5267 | Long             | DBT              |  | US        |    250000 | PA      | $258585.84    | 0.01%             | 2030-07-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Morgan Stanley BAML Trust                                        | Morgan Stanley Bank of America Merrill Lynch Trust 2025-C35                                                                  | CUSIP: 61779CAZ7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    100000 | PA      | $102918.41    | 0.00%             | 2058-08-15      | Variable      | 6.35%                 | No            |                  2 | On Loan: No      |
| Madison IAQ LLC                                                  | Madison IAQ LLC Term Loan                                                                                                    | CUSIP: 55759VAB4<br>LEI: 549300IXDNBXNHUPBU73 | Long             | LON              | CORP              | US        |    746114 | PA      | $746240.82    | 0.03%             | 2028-06-21      | Floating      | 6.70%                 | No            |                  2 | On Loan: No      |
| TTM TECHNOLOGIES INC                                             | TTM Technologies Inc                                                                                                         | CUSIP: 87305RAK5<br>LEI: 549300SC4BDOIS008048 | Long             | DBT              | CORP              | US        |     70000 | PA      | $67300.16     | 0.00%             | 2029-03-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| CARNIVAL CORP                                                    | Carnival Corp                                                                                                                | CUSIP: 143658BZ4<br>LEI: F1OF2ZSX47CR0BCWA982 | Long             | DBT              | CORP              | PA        |    260000 | PA      | $266433.18    | 0.01%             | 2031-06-15      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| BUILDERS FIRSTSOURCE INC                                         | Builders FirstSource Inc                                                                                                     | CUSIP: 12008RAT4<br>LEI: 549300W0SKP6L3H7DP63 | Long             | DBT              | CORP              | US        |    390000 | PA      | $407211.69    | 0.02%             | 2035-05-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| ENCORE CAPITAL GROUP INC                                         | Encore Capital Group Inc                                                                                                     | CUSIP: 292554AQ5<br>LEI: 5493000UVC6H49CIH830 | Long             | DBT              | CORP              | US        |    100000 | PA      | $105516.00    | 0.00%             | 2029-04-01      | Fixed         | 9.25%                 | No            |                  2 | On Loan: No      |
| ROMANIA                                                          | Romanian Government International Bond                                                                                       | CUSIP: 77586RAY6<br>LEI: 315700IASY927EDWBK92 | Long             | DBT              | NUSS              | RO        |     80000 | PA      | $81560.78     | 0.00%             | 2030-09-16      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| HARVEST MIDSTREAM I LP                                           | Harvest Midstream I LP                                                                                                       | CUSIP: 417558AB9<br>LEI: 549300DW5M17KJOXCY66 | Long             | DBT              | CORP              | US        |     50000 | PA      | $51075.25     | 0.00%             | 2032-05-15      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| UKRAINE GOVERNMENT                                               | Ukraine Government International Bond                                                                                        | CUSIP: 903724CC4<br>LEI: 6354001WLTJXOMEXPY07 | Long             | DBT              | NUSS              | UA        |     79994 | PA      | $43539.34     | 0.00%             | 2036-02-01      | Variable      | 4.50%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                      | Freddie Mac Pool                                                                                                             | CUSIP: 3142GVEQ0<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   1095417 | PA      | $1138415.25   | 0.05%             | 2055-08-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| ZF NA CAPITAL                                                    | ZF North America Capital Inc                                                                                                 | CUSIP: 98877DAF2<br>LEI: 529900JYGMS9CW9IQX78 | Long             | DBT              | CORP              | US        |    300000 | PA      | $292763.79    | 0.01%             | 2030-04-23      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| Oak Hill Credit                                                  | OHA Credit Funding 6 Ltd                                                                                                     | CUSIP: 67098UAY1<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   1450000 | PA      | $1453282.80   | 0.07%             | 2037-10-20      | Floating      | 5.66%                 | No            |                  2 | On Loan: No      |
| Go Daddy Operating Company LLC                                   | Go Daddy Operating Company LLC 2024 Term Loan B8                                                                             | CUSIP: 38017BAX4<br>LEI: 5493005GJOH8HLL11157 | Long             | LON              | CORP              | US        |    248744 | PA      | $248378.07    | 0.01%             | 2029-11-09      | Floating      | 5.91%                 | No            |                  2 | On Loan: No      |
| CMG MEDIA CORPORATION                                            | CMG Media Corp                                                                                                               | CUSIP: 125773AA9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     60000 | PA      | $55105.20     | 0.00%             | 2029-06-18      | Fixed         | 8.88%                 | No            |                  2 | On Loan: No      |
| Ally Financial Inc                                               | Ally Financial Inc                                                                                                           | CUSIP: 36186CBY8<br>LEI: 549300JBN1OSM8YNAI90 | Long             | DBT              | CORP              | US        |   1163000 | PA      | $1325784.68   | 0.06%             | 2031-11-01      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| BMO Mortgage Trust                                               | BMO 2025-C13 Mortgage Trust                                                                                                  | CUSIP: 05592YAJ7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    100000 | PA      | $100092.40    | 0.00%             | 2058-10-15      | Variable      | 6.13%                 | No            |                  2 | On Loan: No      |
| CVS HEALTH CORP                                                  | CVS Health Corp                                                                                                              | CUSIP: 126650EG1<br>LEI: 549300EJG376EN5NQE29 | Long             | DBT              | CORP              | US        |    231000 | PA      | $238446.29    | 0.01%             | 2054-12-10      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| HERC HOLDINGS INC                                                | Herc Holdings Inc                                                                                                            | CUSIP: 42704LAF1<br>LEI: 549300TP80QLITMSBP82 | Long             | DBT              | CORP              | US        |    260000 | PA      | $270068.76    | 0.01%             | 2030-06-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| JPMBB Commercial Mortgage Securities Trust                       | JPMBB Commercial Mortgage Securities Trust 2014-C26                                                                          | CUSIP: 46643TAL6<br>LEI: 549300UOGMFS1M8XVM16 | Long             | ABS-MBS          | CORP              | US        |    250000 | PA      | $218911.08    | 0.01%             | 2048-01-15      | Variable      | 3.70%                 | No            |                  2 | On Loan: No      |
| CONNECT HOLDING II LLC                                           | Connect Holding II LLC                                                                                                       | CUSIP: 20753PAD3<br>LEI: 254900LCX7S2QHYUOI31 | Long             | DBT              | CORP              | US        |    120000 | PA      | $119924.10    | 0.01%             | 2031-04-03      | Fixed         | 10.50%                | No            |                  2 | On Loan: No      |
| ICAHN ENTERPRISES/FIN                                            | Icahn Enterprises LP / Icahn Enterprises Finance Corp                                                                        | CUSIP: 451102BT3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     40000 | PA      | $39952.73     | 0.00%             | 2026-05-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| BANK OF NOVA SCOTIA                                              | Bank of Nova Scotia/The                                                                                                      | CUSIP: 000000000<br>LEI: L3I9ZG2KFGXZ61BMYR72 | Long             | DBT              | CORP              | CA        |    335000 | PA      | $394568.30    | 0.02%             | 2033-03-05      | Fixed         | 3.38%                 | No            |                  2 | On Loan: No      |
| BNP Paribas SA                                                   | PURCHASED USD / SOLD GBP                                                                                                     | CUSIP: 000000000<br>LEI: R0MUWSFPU8MPRO8K5P83 | N/A              | DFE              |  | US        |         1 | NC      | $91009.85     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| USA COM PART/USA COM FIN                                         | USA Compression Partners LP / USA Compression Finance Corp                                                                   | CUSIP: 91740PAH1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    155000 | PA      | $155592.91    | 0.01%             | 2033-10-01      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| BX Trust                                                         | BX Commercial Mortgage Trust 2024-XL5                                                                                        | CUSIP: 05612GAG8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     70451 | PA      | $70583.13     | 0.00%             | 2041-03-15      | Floating      | 6.84%                 | No            |                  2 | On Loan: No      |
| SOUTH WEST WATER FIN PLC                                         | South West Water Finance PLC                                                                                                 | CUSIP: 000000000<br>LEI: 213800OV68U446W4NV89 | Long             | DBT              | CORP              | GB        |    160000 | PA      | $219083.28    | 0.01%             | 2032-12-11      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| BANK GOSPODARSTWA KRAJOW                                         | Bank Gospodarstwa Krajowego                                                                                                  | CUSIP: 06237MAA1<br>LEI: 259400BCOV9JJIGLYF05 | Long             | DBT              | NUSS              | PL        |    200000 | PA      | $206411.35    | 0.01%             | 2033-05-22      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| FILTRATION GROUP CORPORATION                                     | Filtration Group Corporation 2025 USD Term Loan                                                                              | CUSIP: 31732FAX4<br>LEI: 549300ZA0D9WN5ECE978 | Long             | LON              | CORP              | US        |    249354 | PA      | $250289.04    | 0.01%             | 2028-10-21      | Floating      | 6.91%                 | No            |                  2 | On Loan: No      |
| TEAM HEALTH HOLDINGS INC                                         | Team Health Holdings Inc 2025 Term Loan B                                                                                    | CUSIP: 87817JAH1<br>LEI: 549300PVTQ4UDTTMQT11 | Long             | LON              | CORP              | US        |     69825 | PA      | $69635.77     | 0.00%             | 2028-06-30      | Floating      | 8.80%                 | No            |                  2 | On Loan: No      |
| Genesys Cloud Services Holdings II LLC                           | Genesys Cloud Services Holdings II LLC 2025 USD Term Loan B                                                                  | CUSIP: 39479UAY9<br>LEI: 254900CRMBG6WX4HX396 | Long             | LON              | CORP              | US        |     35000 | PA      | $34744.85     | 0.00%             | 2032-01-30      | Floating      | 6.66%                 | No            |                  2 | On Loan: No      |
| SAUDI INTERNATIONAL BOND                                         | Saudi Government International Bond                                                                                          | CUSIP: 80413TAV1<br>LEI: 635400FMICXSM3SI3H65 | Long             | DBT              | NUSS              | SA        |    200000 | PA      | $171266.28    | 0.01%             | 2033-02-02      | Fixed         | 2.25%                 | No            |                  2 | On Loan: No      |
| STELLANTIS FINANCIAL SER                                         | Stellantis Financial Services US Corp                                                                                        | CUSIP: 85855FAB9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    216000 | PA      | $216452.81    | 0.01%             | 2030-09-15      | Fixed         | 5.40%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                      | Freddie Mac Pool                                                                                                             | CUSIP: 3132A5HR9<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   1005441 | PA      | $963428.33    | 0.04%             | 2047-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| PIKE CORP                                                        | Pike Corp                                                                                                                    | CUSIP: 721283AB5<br>LEI: 549300P4EKEP6HK0NC58 | Long             | DBT              | CORP              | US        |    200000 | PA      | $214549.40    | 0.01%             | 2031-01-31      | Fixed         | 8.63%                 | No            |                  2 | On Loan: No      |
| EMRLD BORROWER LP                                                | EMRLD Borrower LP 2024 Term Loan B                                                                                           | CUSIP: 26872NAD1<br>LEI: 5493000GJYE7GAQCUC61 | Long             | LON              | CORP              | US        |     44888 | PA      | $44671.59     | 0.00%             | 2031-08-04      | Floating      | 6.12%                 | No            |                  2 | On Loan: No      |
| GENM CAPITAL LABUAN                                              | GENM Capital Labuan Ltd                                                                                                      | CUSIP: 37231BAA6<br>LEI: 254900DWSHIWTSE0YG58 | Long             | DBT              | CORP              | MY        |    200000 | PA      | $184026.46    | 0.01%             | 2031-04-19      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| METHANEX US OPERATIONS                                           | Methanex US Operations Inc                                                                                                   | CUSIP: 59151LAA4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    200000 | PA      | $203493.60    | 0.01%             | 2032-03-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| IVORY COAST                                                      | Ivory Coast Government International Bond                                                                                    | CUSIP: 000000000<br>LEI: 254900ICW11T82O6H590 | Long             | DBT              | NUSS              | CI        |    300000 | PA      | $287641.53    | 0.01%             | 2033-06-15      | Fixed         | 6.13%                 | No            |                  2 | On Loan: No      |
| UMBS, TBA                                                        | Uniform Mortgage-Backed Security, TBA                                                                                        | CUSIP: 01F0306A1<br>LEI: N/A                  | Short            | ABS-MBS          | USGSE             | US        | -24025000 | PA      | $-21098783.11 | -0.97%            | 2055-10-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Barclays Commercial Mortgage Securities LLC                      | BBCMS Mortgage Trust 2025-5C34                                                                                               | CUSIP: 07337BAF1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    275000 | PA      | $288252.47    | 0.01%             | 2058-05-15      | Variable      | 7.03%                 | No            |                  2 | On Loan: No      |
| Goldman Sachs & Co. LLC                                          | LOC600000 SWAPTION                                                                                                           | CUSIP: 000000000<br>LEI: FOR8UP27PHTHYVLBNG30 | N/A              | DIR              |  | US        |   3160000 | NC      | $94039.23     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| BOMBARDIER INC                                                   | Bombardier Inc                                                                                                               | CUSIP: 097751CA7<br>LEI: W7L3VLU8EHQY34Z36697 | Long             | DBT              | CORP              | CA        |    200000 | PA      | $215678.40    | 0.01%             | 2030-11-15      | Fixed         | 8.75%                 | No            |                  2 | On Loan: No      |
| SW (FINANCE) I PLC                                               | SW Finance I PLC                                                                                                             | CUSIP: 000000000<br>LEI: 549300BHN1HB5BNG2R96 | Long             | DBT              | CORP              | GB        |    100000 | PA      | $136073.36    | 0.01%             | 2032-08-07      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| BNP Paribas SA                                                   | PURCHASED EUR / SOLD USD                                                                                                     | CUSIP: 000000000<br>LEI: R0MUWSFPU8MPRO8K5P83 | N/A              | DFE              |  | XX        |         1 | NC      | $296.26       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| CVR ENERGY INC                                                   | CVR Energy Inc                                                                                                               | CUSIP: 12662PAF5<br>LEI: 529900SOYZIXZBTXB558 | Long             | DBT              | CORP              | US        |    180000 | PA      | $183970.44    | 0.01%             | 2029-01-15      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| ARES STRATEGIC INCOME FU                                         | Ares Strategic Income Fund                                                                                                   | CUSIP: 04020EAL1<br>LEI: 549300IANZJVZPTICV54 | Long             | DBT              | CORP              | US        |   1075000 | PA      | $1083385.37   | 0.05%             | 2028-09-09      | Fixed         | 5.45%                 | No            |                  2 | On Loan: No      |
| ISLAMIC REP OF PAKISTAN                                          | Pakistan Government International Bond                                                                                       | CUSIP: 695847AT0<br>LEI: 529900LOP29R5WKHOD86 | Long             | DBT              | NUSS              | PK        |    200000 | PA      | $195688.34    | 0.01%             | 2031-04-08      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| RCI BANQUE SA                                                    | RCI Banque SA                                                                                                                | CUSIP: 000000000<br>LEI: 96950001WI712W7PQG45 | Long             | DBT              | CORP              | FR        |    200000 | PA      | $246992.79    | 0.01%             | 2034-10-09      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| EDISON INTERNATIONAL                                             | Edison International                                                                                                         | CUSIP: 281020BC0<br>LEI: 549300I7ROF15MAEVP56 | Long             | DBT              | CORP              | US        |    100000 | PA      | $103983.51    | 0.00%             | 2030-03-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                       | Fannie Mae Pool                                                                                                              | CUSIP: 3140QBCC0<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    785054 | PA      | $754651.54    | 0.03%             | 2049-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| DELEK LOG PART/FINANCE                                           | Delek Logistics Partners LP / Delek Logistics Finance Corp                                                                   | CUSIP: 24665FAC6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    350000 | PA      | $351132.95    | 0.02%             | 2028-06-01      | Fixed         | 7.13%                 | No            |                  2 | On Loan: No      |
| GO DADDY OPCO/FINCO                                              | Go Daddy Operating Co LLC / GD Finance Co Inc                                                                                | CUSIP: 38016LAC9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    200000 | PA      | $189495.30    | 0.01%             | 2029-03-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Barclays Commercial Mortgage Securities LLC                      | BBCMS Mortgage Trust 2025-C32                                                                                                | CUSIP: 07337AAH9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    125000 | PA      | $126097.93    | 0.01%             | 2062-02-15      | Fixed         | 6.13%                 | No            |                  2 | On Loan: No      |
| DELL INT LLC / EMC CORP                                          | Dell International LLC / EMC Corp                                                                                            | CUSIP: 24703DBU4<br>LEI: 254900ZARLSVK41DKO78 | Long             | DBT              | CORP              | US        |   2190000 | PA      | $2177784.55   | 0.10%             | 2036-02-15      | Fixed         | 5.10%                 | No            |                  2 | On Loan: No      |
| BNP PARIBAS                                                      | BNP Paribas SA                                                                                                               | CUSIP: 05602XQQ4<br>LEI: R0MUWSFPU8MPRO8K5P83 | Long             | DBT              | CORP              | FR        |    200000 | PA      | $208749.40    | 0.01%             | 2035-06-27      | Fixed         | 7.45%                 | No            |                  2 | On Loan: No      |
| Bank of America NA                                               | PURCHASED USD / SOLD EUR                                                                                                     | CUSIP: 000000000<br>LEI: B4TYDEB6GKMZO031MB27 | N/A              | DFE              |  | US        |         1 | NC      | $1116.58      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| MAJORDRIVE HOLDINGS IV L                                         | MajorDrive Holdings IV LLC                                                                                                   | CUSIP: 56085RAA8<br>LEI: 25490044R1FR5N8FIT62 | Long             | DBT              | CORP              | US        |    170000 | PA      | $139310.50    | 0.01%             | 2029-06-01      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| STAPLES INC                                                      | Staples Inc                                                                                                                  | CUSIP: 855030AQ5<br>LEI: XQM2JINI1UL7642TU573 | Long             | DBT              | CORP              | US        |    300000 | PA      | $296630.85    | 0.01%             | 2029-09-01      | Fixed         | 10.75%                | No            |                  2 | On Loan: No      |
| Jamaica Government International Bonds                           | Jamaica Government International Bonds                                                                                       | CUSIP: 470160CB6<br>LEI: 529900Y93KNSXZI8KK56 | Long             | DBT              | NUSS              | JM        |     50000 | PA      | $60151.50     | 0.00%             | 2045-07-28      | Fixed         | 7.88%                 | No            |                  2 | On Loan: No      |
| ECHOSTAR CORP                                                    | EchoStar Corp                                                                                                                | CUSIP: 278768AA4<br>LEI: 549300EE20907QZ9GT38 | Long             | DBT              | CORP              | US        |    858198 | PA      | $884759.23    | 0.04%             | 2030-11-30      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| SURGERY CENTER HOLDINGS                                          | Surgery Center Holdings Inc                                                                                                  | CUSIP: 86881WAF9<br>LEI: 54930054EVI5HWPPW113 | Long             | DBT              | CORP              | US        |     65000 | PA      | $66770.99     | 0.00%             | 2032-04-15      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| NCMF Trust                                                       | NCMF Trust 2025-MFS                                                                                                          | CUSIP: 62887TAL8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    100000 | PA      | $101834.13    | 0.00%             | 2033-06-10      | Variable      | 8.72%                 | No            |                  2 | On Loan: No      |
| ABU DHABI GOVT INT'L                                             | Abu Dhabi Government International Bond                                                                                      | CUSIP: 29135LAF7<br>LEI: 213800FER4348CINTA77 | Long             | DBT              | NUSS              | AE        |    500000 | PA      | $363050.56    | 0.02%             | 2049-09-30      | Fixed         | 3.13%                 | No            |                  2 | On Loan: No      |
| Lebanese Republic                                                | Lebanon Government International Bond                                                                                        | CUSIP: 000000000<br>LEI: 529900QPC4K9S1KHL354 | Long             | DBT              | NUSS              | LB        |    300000 | PA      | $67095.00     | 0.00%             | 2049-03-09      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| BX Trust                                                         | BX Commercial Mortgage Trust 2020-VIV2                                                                                       | CUSIP: 05605NAA5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   3211000 | PA      | $2973876.96   | 0.14%             | 2044-03-09      | Variable      | 3.66%                 | No            |                  2 | On Loan: No      |
| Willis Engine Securitization Trust                               | Willis Engine Structured Trust VIII                                                                                          | CUSIP: 97063RAA8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1050880 | PA      | $1064200.72   | 0.05%             | 2050-06-15      | Fixed         | 5.58%                 | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2025-10-27

**Name of Applicant:** LINCOLN VARIABLE INSURANCE PRODUCTS TRUST

**Signature:** James Hoffmayer

**Name of Signer:** James Hoffmayer

**Title:** VP