# EDGAR Filing Document

**Accession Number:** 0001762562
**File Stem:** 0001752724-25-203528
**Filing Date:** 2025-8
**Character Count:** 107045
**Document Hash:** 3d5abf72a51f5e17b0478c7e8fbcf5b3
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001752724-25-203528.hdr.sgml**: 20250826

**ACCESSION NUMBER**: 0001752724-25-203528

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20250630

**FILED AS OF DATE**: 20250826

**DATE AS OF CHANGE**: 20250826

**PERIOD START**: 20251231

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Clarion Partners Real Estate Income Fund Inc.
- **CENTRAL INDEX KEY:** 0001762562

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** MD
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-23408
- **FILM NUMBER:** 251253222

**BUSINESS ADDRESS:**
- **STREET 1:** 620 8TH AVENUE
- **STREET 2:** 47TH FLOOR
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10018
- **BUSINESS PHONE:** 8887770102

**MAIL ADDRESS:**
- **STREET 1:** 620 8TH AVENUE
- **STREET 2:** 47TH FLOOR
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10018

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** Clarion Partners Real Estate Income Fund Inc.

- **b. Investment Company Act file number:** 811-23408

- **c. CIK number of Registrant:** 0001762562

- **d. LEI of Registrant:** 549300HQZ8T32H6E5695

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

  - **Street Address 1:** 620 Eighth Avenue

  - **City:** New York

  - **State:** NY

  - **Foreign country:** US

  - **Zip / Postal Code:** 10018

  - **Telephone number:** 1-888-777-0102

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

- **a. Name of Series:** Clarion Partners Real Estate Income Fund Inc.

- **c. LEI of Series:** 549300HQZ8T32H6E5695

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

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

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

**Item A.4. Final filing**

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

### Fund Information

**Total Assets:** $1037493459.04

**Total Liabilities:** $11452888.59

**Net Assets:** $1026040570.45

**Cash Not Reported:** $1205201.87

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** 85.03000000 | **1-Year:** 10962.03000000 | **5-Year:** 22523.18000000 | **10-Year:** 3664.40000000 | **30-Year:** 0.00000000

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

- **3-Month:** 190.03000000 | **1-Year:** 5327.69000000 | **5-Year:** 15161.83000000 | **10-Year:** 8753.59000000 | **30-Year:** 143.93000000

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000000004 | 0.25%                | 0.16%                | 0.34%                |
| Class ID C000000002 | -3.25%               | -3.43%               | -3.11%               |
| Class ID C000000001 | 0.32%                | 0.23%                | 0.41%                |
| Class ID C000000003 | 0.30%                | 0.12%                | 0.46%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $33943.15                | $-494869.51                                |
| Month 2  | $-176931.35              | $-2167248.95                               |
| Month 3  | $53942.32                | $1250209.56                                |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| BX Trust                                    | BX Trust 2024-VLT4                                                          | CUSIP: 05612TAJ4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1000000 | PA      | $996931.20    | 0.10%             | 2029-07-15      | Floating      | 7.20%                 | No            |                  2 | On Loan: No      |
| Morgan Stanley Capital I Trust              | Morgan Stanley Capital I Trust 2016-BNK2                                    | CUSIP: 61690YBY7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    500000 | PA      | $442342.95    | 0.04%             | 2049-11-15      | Fixed         | 3.48%                 | No            |                  2 | On Loan: No      |
| Martinique Bay                              | Martinique Bay                                                              | CUSIP: 000000000<br>LEI: N/A                  | Long             | RE               | CORP              | US        |         1 | OU      | $23168000.00  | 2.26%             |  |  |  | No            |                  3 | On Loan: No      |
| THE 2023-MIC Trust                          | 2023-MIC Trust/THE                                                          | CUSIP: 87256GAA0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1000000 | PA      | $1091954.60   | 0.11%             | 2038-12-05      | Variable      | 8.73%                 | No            |                  2 | On Loan: No      |
| Hospitality Investors Trust                 | HIT Trust 2022-HI32                                                         | CUSIP: 40442AAQ2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    253521 | PA      | $256587.15    | 0.03%             | 2039-07-15      | Floating      | 13.43%                | No            |                  2 | On Loan: No      |
| Congress Commons                            | Congress Commons                                                            | CUSIP: 000000000<br>LEI: N/A                  | Long             | RE               | CORP              | US        |         1 | OU      | $34900000.00  | 3.40%             |  |  |  | No            |                  3 | On Loan: No      |
| Freddie Mac - STACR                         | Freddie Mac STACR Trust 2019-HQA3                                           | CUSIP: 35564XBE0<br>LEI: 549300EUJICRX5L38Y52 | Long             | ABS-MBS          | CORP              | US        |    970000 | PA      | $1099841.48   | 0.11%             | 2049-09-25      | Floating      | 11.92%                | No            |                  2 | On Loan: No      |
| AGL CLO Ltd.                                | AGL CLO 42 Ltd                                                              | CUSIP: 00791YAE8<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    500000 | PA      | $501015.30    | 0.05%             | 2038-07-22      | Floating      | 5.92%                 | No            |                  2 | On Loan: No      |
| Fusion Life Science HQ                      | Fusion Life Science HQ                                                      | CUSIP: 000000000<br>LEI: N/A                  | Long             | RE               | CORP              | US        |         1 | OU      | $15135808.05  | 1.48%             |  |  |  | No            |                  3 | On Loan: No      |
| Nordeast Business Center                    | Nordeast Business Center                                                    | CUSIP: 000000000<br>LEI: N/A                  | Long             | RE               | CORP              | US        |         1 | OU      | $18700000.00  | 1.82%             |  |  |  | No            |                  3 | On Loan: No      |
| Verus Securitization Trust                  | Verus Securitization Trust 2022-7                                           | CUSIP: 92539NAC0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    838711 | PA      | $844917.43    | 0.08%             | 2067-07-25      | Variable      | 5.35%                 | No            |                  2 | On Loan: No      |
| New York Mortgage Trust                     | NYMT Loan Trust 2022-SP1                                                    | CUSIP: 62956BAA7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    777146 | PA      | $797274.76    | 0.08%             | 2062-07-25      | Variable      | 5.25%                 | No            |                  2 | On Loan: No      |
| NRZ Excess Spread Collateraliz              | NRM FNT1 Excess LLC                                                         | CUSIP: 62956YAA7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    505448 | PA      | $514306.66    | 0.05%             | 2031-11-25      | Variable      | 7.40%                 | No            |                  2 | On Loan: No      |
| BRAVO Residential Funding Trus              | BRAVO Residential Funding Trust 2024-NQM5                                   | CUSIP: 105925AC5<br>LEI: 254900RBHU9OC1RNXD92 | Long             | ABS-MBS          | CORP              | US        |    802783 | PA      | $807417.75    | 0.08%             | 2064-06-25      | Variable      | 6.16%                 | No            |                  2 | On Loan: No      |
| BX Trust                                    | BX Commercial Mortgage Trust 2021-XL2                                       | CUSIP: 05609KAA7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    371860 | PA      | $371916.24    | 0.04%             | 2038-10-15      | Floating      | 5.11%                 | No            |                  2 | On Loan: No      |
| 100 Friars Boulevard                        | 100 Friars Boulevard                                                        | CUSIP: 000000000<br>LEI: N/A                  | Long             | RE               | CORP              | US        |         1 | OU      | $30700000.00  | 2.99%             |  |  |  | No            |                  3 | On Loan: No      |
| BRAVO Residential Funding Trus              | Bravo Residential Funding Trust Series 2025-NQM1                            | CUSIP: 10569MAE3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    712424 | PA      | $716716.48    | 0.07%             | 2064-12-25      | Variable      | 5.91%                 | No            |                  2 | On Loan: No      |
| Ellington Financial Mortgage T              | EFMT 2025-INV1                                                              | CUSIP: 26846XAE0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    750000 | PA      | $744332.18    | 0.07%             | 2070-03-25      | Variable      | 7.18%                 | No            |                  2 | On Loan: No      |
| Mosaic at Largo Station                     | Mosaic at Largo Station                                                     | CUSIP: 000000000<br>LEI: N/A                  | Long             | RE               | CORP              | GB        |         1 | OU      | $32005000.00  | 3.12%             |  |  |  | No            |                  3 | On Loan: No      |
| MF1 Multifamily Housing Mortga              | MF1 2025-FL19 LLC                                                           | CUSIP: 55287KAJ2<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |   1000000 | PA      | $998899.90    | 0.10%             | 2042-05-18      | Floating      | 7.75%                 | No            |                  2 | On Loan: No      |
| MF1 Multifamily Housing Mortga              | MF1 2024-FL16                                                               | CUSIP: 55287EAA5<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |   1000000 | PA      | $1002460.60   | 0.10%             | 2039-11-18      | Floating      | 5.86%                 | No            |                  2 | On Loan: No      |
| Freddie Mac - STACR                         | Freddie Mac STACR REMIC Trust 2025-DNA1                                     | CUSIP: 35564NGA5<br>LEI: 529900WZAMS87JCAOC53 | Long             | ABS-MBS          | CORP              | US        |   1580000 | PA      | $1580949.58   | 0.15%             | 2045-01-25      | Floating      | 5.66%                 | No            |                  2 | On Loan: No      |
| Freddie Mac - STACR                         | Freddie Mac STACR Trust 2019-FTR4                                           | CUSIP: 35565GAE7<br>LEI: 549300K0XW5MBR2WNZ55 | Long             | ABS-MBS          | CORP              | US        |    750000 | PA      | $827222.10    | 0.08%             | 2047-11-25      | Floating      | 9.42%                 | No            |                  2 | On Loan: No      |
| Atrium Hotel Portfolio Trust                | Atrium Hotel Portfolio Trust 2017-ATRM                                      | CUSIP: 04965JAJ2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1700000 | PA      | $1571649.66   | 0.15%             | 2036-12-15      | Floating      | 7.66%                 | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS & CO. LLC                     | Goldman Sachs & Co                                                          | CUSIP: 000000000<br>LEI: FOR8UP27PHTHYVLBNG30 | Long             | RA               | CORP              | US        |   5000000 | PA      | $5000000.00   | 0.49%             |  |  |  | No            |                  2 | On Loan: No      |
| The Pearl at Boulder Creek                  | The Pearl at Boulder Creek                                                  | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  43215116 | PA      | $43215116.00  | 4.21%             | 2099-03-31      | Floating      | 0.01%                 | No            |                  3 | On Loan: No      |
| Greystone Commercial Real Esta              | Greystone CRE Notes 2025-FL4 LLC                                            | CUSIP: 39810MAA7<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |   1480000 | PA      | $1481900.62   | 0.14%             | 2043-01-15      | Floating      | 5.79%                 | No            |                  2 | On Loan: No      |
| Fannie Mae - CAS                            | Connecticut Avenue Securities Trust 2021-R01                                | CUSIP: 20754RAJ5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1500000 | PA      | $1567316.40   | 0.15%             | 2041-10-25      | Floating      | 10.31%                | No            |                  2 | On Loan: No      |
| JP Morgan Chase Commercial Mor              | JP Morgan Chase Commercial Mortgage Securities Trust 2020-MKST              | CUSIP: 46652DAQ8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    175000 | PA      | $8.42         | 0.00%             | 2036-12-15      | Floating      | 11.68%                | No            |                  2 | On Loan: No      |
| BENCHMARK Mortgage Trust                    | Benchmark 2023-V3 Mortgage Trust                                            | CUSIP: 08163VAL1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    450000 | PA      | $397727.24    | 0.04%             | 2056-07-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| New Residential Mortgage Loan               | New Residential Mortgage Loan Trust 2022-NQM4                               | CUSIP: 64831UAC8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    770464 | PA      | $760022.41    | 0.07%             | 2062-06-25      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| MF1 Multifamily Housing Mortga              | MF1 2021-FL7 Ltd                                                            | CUSIP: 55284AAL2<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   1000000 | PA      | $983716.40    | 0.10%             | 2036-10-16      | Floating      | 7.23%                 | No            |                  2 | On Loan: No      |
| Jedburg Logistics Park Building 2           | Jedburg Logistics Park Building 2                                           | CUSIP: 000000000<br>LEI: N/A                  | Long             | RE               | CORP              | US        |         1 | OU      | $25800000.00  | 2.51%             |  |  |  | No            |                  3 | On Loan: No      |
| MSWF Commercial Mortgage Trust              | MSWF Commercial Mortgage Trust 2023-2                                       | CUSIP: 55361AAE4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    950000 | PA      | $737127.61    | 0.07%             | 2056-12-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Apollo Aviation Securitization              | AASET 2024-1                                                                | CUSIP: 00255JAB6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    945319 | PA      | $972528.97    | 0.09%             | 2049-05-16      | Fixed         | 6.26%                 | No            |                  2 | On Loan: No      |
| 3828 Civic Center                           | 3828 Civic Center                                                           | CUSIP: 000000000<br>LEI: N/A                  | Long             | RE               | CORP              | US        |         1 | OU      | $8600000.00   | 0.84%             |  |  |  | No            |                  3 | On Loan: No      |
| Memphis Logistics Mezz                      | Memphis Logistics Mezz                                                      | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  14000000 | PA      | $14000000.00  | 1.36%             | 2035-08-09      | Floating      | 6.84%                 | No            |                  3 | On Loan: No      |
| Avilla Enclave                              | Avilla Enclave                                                              | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  10156909 | PA      | $10156908.70  | 0.99%             | 2099-03-31      | Floating      | 4.74%                 | No            |                  3 | On Loan: No      |
| Rialto Real Estate Fund LP                  | RIAL 2022-FL8 Issuer Ltd                                                    | CUSIP: 76243NAL0<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | BM        |    500000 | PA      | $494768.10    | 0.05%             | 2037-01-19      | Floating      | 9.81%                 | No            |                  2 | On Loan: No      |
| Chase Mortgage Finance Corpora              | Chase Home Lending Mortgage Trust 2024-RPL4                                 | CUSIP: 16160NAB7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1442753 | PA      | $1292352.77   | 0.13%             | 2064-12-25      | Variable      | 3.38%                 | No            |                  2 | On Loan: No      |
| Starwood Mortgage Residential               | Starwood Mortgage Residential Trust 2021-4                                  | CUSIP: 85573PAH5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1070000 | PA      | $747347.39    | 0.07%             | 2056-08-25      | Variable      | 4.68%                 | No            |                  2 | On Loan: No      |
| Verus Securitization Trust                  | Verus Securitization Trust 2023-7                                           | CUSIP: 92539YAE2<br>LEI: 213800W65K5FH3AI2J91 | Long             | ABS-MBS          | CORP              | US        |    590000 | PA      | $594453.08    | 0.06%             | 2068-10-25      | Variable      | 7.89%                 | No            |                  2 | On Loan: No      |
| ONNI Commercial Mortgage Trust              | ONNI Commerical Mortgage Trust 2024-APT                                     | CUSIP: 682939AG8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1220000 | PA      | $1262666.45   | 0.12%             | 2039-07-15      | Variable      | 7.24%                 | No            |                  2 | On Loan: No      |
| Freddie Mac - STACR                         | Freddie Mac STACR REMIC Trust 2021-DNA6                                     | CUSIP: 35564KLV9<br>LEI: 5493000ISONLNOUKGB71 | Long             | ABS-MBS          | CORP              | US        |    750000 | PA      | $797490.08    | 0.08%             | 2041-10-25      | Floating      | 11.81%                | No            |                  2 | On Loan: No      |
| Verus Securitization Trust                  | Verus Securitization Trust 2025-4                                           | CUSIP: 92540UAE7<br>LEI: 2138009ZO3B2B5MAHZ49 | Long             | ABS-MBS          | CORP              | US        |   1464809 | PA      | $1471840.22   | 0.14%             | 2070-05-25      | Variable      | 5.75%                 | No            |                  2 | On Loan: No      |
| Credit Suisse Mortgage Trust                | CSMC 2020-FACT                                                              | CUSIP: 126395AN2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1500000 | PA      | $1393818.30   | 0.14%             | 2037-10-15      | Floating      | 9.79%                 | No            |                  2 | On Loan: No      |
| Chase Mortgage Finance Corpora              | Chase Mortgage Finance Corp                                                 | CUSIP: 16164AAE5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    767768 | PA      | $706958.12    | 0.07%             | 2045-12-25      | Variable      | 3.75%                 | No            |                  2 | On Loan: No      |
| Wells Fargo Commercial Mortgag              | Wells Fargo Commercial Mortgage Trust 2017-C42                              | CUSIP: 95001GAU7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1500000 | PA      | $989083.05    | 0.10%             | 2050-12-15      | Variable      | 2.80%                 | No            |                  2 | On Loan: No      |
| MFRA Trust                                  | MFA 2024-RTL3 Trust                                                         | CUSIP: 59319PAA4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1170000 | PA      | $1177151.98   | 0.11%             | 2039-11-25      | Variable      | 5.91%                 | No            |                  2 | On Loan: No      |
| MFA FINANCIAL INC                           | MFA Financial Inc                                                           | CUSIP: 55272X508<br>LEI: YW72IMH2RRC8Z1TGLG58 | Long             | EP               | CORP              | US        |     62186 | NS      | $1462614.72   | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| FIVE POINT OP CO LP/FIVE                    | Five Point Operating Co LP / Five Point Capital Corp                        | CUSIP: 33834YAB4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    600000 | PA      | $610794.60    | 0.06%             | 2028-01-15      | Variable      | 10.50%                | No            |                  2 | On Loan: No      |
| Toorak Mortgage Corp.                       | Toorak Mortgage Trust 2024-RRTL1                                            | CUSIP: 89054YAE3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    300000 | PA      | $303333.60    | 0.03%             | 2039-02-25      | Variable      | 10.33%                | No            |                  2 | On Loan: No      |
| Bank                                        | BANK 2021-BNK35                                                             | CUSIP: 06540CAQ0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1050000 | PA      | $397018.13    | 0.04%             | 2064-06-15      | Variable      | 1.77%                 | No            |                  2 | On Loan: No      |
| Weaverville Retreat                         | Weaverville Retreat                                                         | CUSIP: 000000000<br>LEI: N/A                  | Long             | RE               | CORP              | US        |         1 | OU      | $53600000.00  | 5.22%             |  |  |  | No            |                  3 | On Loan: No      |
| SMR 2022-IND Mortgage Trust                 | SMR 2022-IND Mortgage Trust                                                 | CUSIP: 78458MAN4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    549406 | PA      | $493800.66    | 0.05%             | 2039-02-15      | Floating      | 11.81%                | No            |                  2 | On Loan: No      |
| GS Mortgage Securities Trust                | GS Mortgage Securities Trust 2015-GC28                                      | CUSIP: 36251FAG1<br>LEI: 5493002EPQ51IPGGFX73 | Long             | ABS-MBS          | CORP              | US        |    210643 | PA      | $201927.30    | 0.02%             | 2048-02-10      | Variable      | 4.56%                 | No            |                  2 | On Loan: No      |
| Homeward Opportunities Fund I               | Homeward Opportunities Fund Trust 2022-1                                    | CUSIP: 43789KAA0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    501752 | PA      | $499389.35    | 0.05%             | 2067-07-25      | Variable      | 5.08%                 | No            |                  2 | On Loan: No      |
| Verus Securitization Trust                  | Verus Securitization Trust 2024-4                                           | CUSIP: 92540GAF5<br>LEI: 213800WNY873LW1L3M73 | Long             | ABS-MBS          | CORP              | US        |    320000 | PA      | $320278.30    | 0.03%             | 2069-06-25      | Variable      | 8.03%                 | No            |                  2 | On Loan: No      |
| Verus Securitization Trust                  | Verus Securitization Trust 2024-INV1                                        | CUSIP: 92540FAC4<br>LEI: 9845000FE754F4AE7E70 | Long             | ABS-MBS          | CORP              | US        |    824285 | PA      | $832629.50    | 0.08%             | 2069-03-25      | Variable      | 6.47%                 | No            |                  2 | On Loan: No      |
| LHOME Mortgage Trust                        | LHOME Mortgage Trust 2024-RTL4                                              | CUSIP: 50205PAC6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    732000 | PA      | $735165.46    | 0.07%             | 2039-07-25      | Variable      | 7.79%                 | No            |                  2 | On Loan: No      |
| Bank                                        | BANK 2023-BNK46                                                             | CUSIP: 06541DAL8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   2000000 | PA      | $1592459.20   | 0.16%             | 2056-08-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Apidos CLO Ltd                              | Apidos CLO XLV Ltd                                                          | CUSIP: 03770MAS2<br>LEI: 5493000BLHDFQUOR8F12 | Long             | ABS-CBDO         | CORP              | JE        |    500000 | PA      | $501250.00    | 0.05%             | 2038-07-26      | Floating      | 0.01%                 | No            |                  2 | On Loan: No      |
| Opteum Mortgage Acceptance Cor              | Opteum Mortgage Acceptance Corp Trust 2006-1                                | CUSIP: 68383NDW0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    897313 | PA      | $860116.45    | 0.08%             | 2036-04-25      | Floating      | 5.03%                 | No            |                  2 | On Loan: No      |
| Eagle Re Ltd                                | Eagle RE 2023-1 Ltd                                                         | CUSIP: 26982EAC0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | BM        |   1000000 | PA      | $1026599.80   | 0.10%             | 2033-09-26      | Floating      | 8.26%                 | No            |                  2 | On Loan: No      |
| HOMES Trust                                 | HOMES 2025-NQM1 Trust                                                       | CUSIP: 43761DAE0<br>LEI: 254900LUV7YA0N50XT86 | Long             | ABS-MBS          | CORP              | US        |    821687 | PA      | $825083.23    | 0.08%             | 2070-01-25      | Variable      | 5.96%                 | No            |                  2 | On Loan: No      |
| HOMES Trust                                 | HOMES 2024-NQM1 Trust                                                       | CUSIP: 40390TAA8<br>LEI: 2549001JI3VOZZFMYK81 | Long             | ABS-MBS          | CORP              | US        |    807091 | PA      | $812481.02    | 0.08%             | 2069-07-25      | Variable      | 5.92%                 | No            |                  2 | On Loan: No      |
| Freddie Mac - STACR                         | Freddie Mac STACR Debt Notes 2016-DNA1                                      | CUSIP: 3137G0HZ5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    511436 | PA      | $534772.21    | 0.05%             | 2028-07-25      | Floating      | 14.42%                | No            |                  2 | On Loan: No      |
| RAAC Series                                 | RAAC Series 2007-SP1 Trust                                                  | CUSIP: 74978AAF7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    608499 | PA      | $473512.38    | 0.05%             | 2037-03-25      | Floating      | 5.93%                 | No            |                  2 | On Loan: No      |
| SEB Funding LLC                             | SEB Funding LLC                                                             | CUSIP: 78433DAC8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1000000 | PA      | $1023971.60   | 0.10%             | 2054-04-30      | Fixed         | 7.39%                 | No            |                  2 | On Loan: No      |
| Santander Mortgage Asset Recei              | Santander Mortgage Asset Receivable Trust 2025-NQM3                         | CUSIP: 80263AAD3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1910000 | PA      | $1919907.93   | 0.19%             | 2065-05-25      | Variable      | 5.85%                 | No            |                  2 | On Loan: No      |
| BX Trust                                    | BX Trust 2024-CNYN                                                          | CUSIP: 05612HAG6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1342790 | PA      | $1347811.85   | 0.13%             | 2041-04-15      | Floating      | 7.00%                 | No            |                  2 | On Loan: No      |
| PRKCM Trust                                 | PRKCM 2023-AFC3 Trust                                                       | CUSIP: 693984AC0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    670177 | PA      | $676862.47    | 0.07%             | 2058-09-25      | Variable      | 7.09%                 | No            |                  2 | On Loan: No      |
| FULL HOUSE RESORTS INC                      | Full House Resorts Inc                                                      | CUSIP: 359678AC3<br>LEI: 5493009DKIWW0H901Y82 | Long             | DBT              | CORP              | US        |   1600000 | PA      | $1555790.72   | 0.15%             | 2028-02-15      | Fixed         | 8.25%                 | No            |                  2 | On Loan: No      |
| LHOME Mortgage Trust                        | LHOME Mortgage Trust 2024-RTL2                                              | CUSIP: 50205JAB2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    440000 | PA      | $444539.57    | 0.04%             | 2029-03-25      | Variable      | 8.90%                 | No            |                  2 | On Loan: No      |
| THE 2023-MIC Trust                          | 2023-MIC Trust/THE                                                          | CUSIP: 87256GAC6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    500000 | PA      | $546537.05    | 0.05%             | 2038-12-05      | Variable      | 9.86%                 | No            |                  2 | On Loan: No      |
| CoreVest American Finance Ltd               | CAFL 2024-RTL1 Issuer LLC                                                   | CUSIP: 12770DAB0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    940000 | PA      | $952298.96    | 0.09%             | 2031-11-28      | Variable      | 8.68%                 | No            |                  2 | On Loan: No      |
| Onslow Bay Financial LLC                    | OBX 2025-NQM8 Trust                                                         | CUSIP: 67449AAC9<br>LEI: 2549006UJL1L84XG2C80 | Long             | ABS-MBS          | CORP              | US        |   1454782 | PA      | $1463086.83   | 0.14%             | 2065-03-25      | Variable      | 5.83%                 | No            |                  2 | On Loan: No      |
| COLT Funding LLC                            | COLT 2025-6 Mortgage Loan Trust                                             | CUSIP: 19689BAB9<br>LEI: 213800IXUWCX6RHIO921 | Long             | ABS-MBS          | CORP              | US        |   1910000 | PA      | $1920486.66   | 0.19%             | 2070-08-25      | Variable      | 5.78%                 | No            |                  2 | On Loan: No      |
| Anker Haus                                  | Anker Haus                                                                  | CUSIP: 000000000<br>LEI: N/A                  | Long             | RE               | CORP              | US        |         1 | OU      | $18000000.00  | 1.75%             |  |  |  | No            |                  3 | On Loan: No      |
| Freddie Mac                                 | Freddie Mac REMICS                                                          | CUSIP: 3137H3ST0<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   4985076 | PA      | $721629.64    | 0.07%             | 2051-11-25      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| BOARD OF TRADE OF THE CITY OF CHICAGO, INC. | US 10YR NOTE (CBT)                                                          | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DIR              | CORP              | US        |      -177 | NC      | $-335813.58   | -0.03%            |  |  |  | No            |                  1 | On Loan: No      |
| Carval CLO LTD                              | CarVal CLO XI C Ltd                                                         | CUSIP: 14688RAE0<br>LEI: 254900BDRF474L9PWM54 | Long             | ABS-CBDO         | CORP              | KY        |    390000 | PA      | $391359.27    | 0.04%             | 2037-10-20      | Floating      | 6.02%                 | No            |                  2 | On Loan: No      |
| 15550 Export Plaza Drive                    | 15550 Export Plaza Drive                                                    | CUSIP: 000000000<br>LEI: N/A                  | Long             | RE               | CORP              | US        |         1 | OU      | $10800000.00  | 1.05%             |  |  |  | No            |                  3 | On Loan: No      |
| Chino Industrial Portfolio                  | Chino Industrial Portfolio                                                  | CUSIP: 000000000<br>LEI: N/A                  | Long             | RE               | CORP              | US        |         1 | OU      | $30800000.00  | 3.00%             |  |  |  | No            |                  3 | On Loan: No      |
| Freddie Mac - STACR                         | Freddie Mac STACR REMIC Trust 2021-HQA4                                     | CUSIP: 35564KPP8<br>LEI: 5493000ISE4NWBTOSK36 | Long             | ABS-MBS          | CORP              | US        |    640000 | PA      | $678084.86    | 0.07%             | 2041-12-25      | Floating      | 11.31%                | No            |                  2 | On Loan: No      |
| Credit Suisse Mortgage Trust                | CSMC Trust 2017-CHOP                                                        | CUSIP: 12651QAQ2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    400000 | PA      | $396138.64    | 0.04%             | 2032-07-15      | Floating      | 8.79%                 | No            |                  2 | On Loan: No      |
| Onslow Bay Financial LLC                    | OBX 2025-NQM10 Trust                                                        | CUSIP: 67121LAC0<br>LEI: 254900NDJVO62R77II89 | Long             | ABS-MBS          | CORP              | US        |   1600614 | PA      | $1608835.23   | 0.16%             | 2065-05-25      | Variable      | 5.71%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                  | Fannie Mae REMICS                                                           | CUSIP: 3136BJVT9<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   2501447 | PA      | $589360.68    | 0.06%             | 2051-11-25      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Verus Securitization Trust                  | Verus Securitization Trust 2020-5                                           | CUSIP: 92538CAE1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    500000 | PA      | $456558.15    | 0.04%             | 2065-05-25      | Variable      | 3.71%                 | No            |                  2 | On Loan: No      |
| LHOME Mortgage Trust                        | LHOME Mortgage Trust 2024-RTL3                                              | CUSIP: 50205GAB8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    780000 | PA      | $788798.32    | 0.08%             | 2029-05-25      | Variable      | 8.37%                 | No            |                  2 | On Loan: No      |
| KNDR Trust 2021-KIND                        | KIND Trust 2021-KIND                                                        | CUSIP: 482606AQ3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    991855 | PA      | $982420.45    | 0.10%             | 2038-08-15      | Floating      | 7.68%                 | No            |                  2 | On Loan: No      |
| Home Re Ltd                                 | Home RE 2023-1 Ltd                                                          | CUSIP: 43731BAC5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    500000 | PA      | $536501.90    | 0.05%             | 2033-10-25      | Floating      | 10.31%                | No            |                  2 | On Loan: No      |
| MF1 Multifamily Housing Mortga              | MF1 2022-FL8 Ltd                                                            | CUSIP: 55284JAJ8<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   2000000 | PA      | $2001246.60   | 0.20%             | 2037-02-19      | Floating      | 6.97%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A              | Government National Mortgage Association                                    | CUSIP: 38383LC73<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   1231383 | PA      | $243347.17    | 0.02%             | 2049-05-20      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Freddie Mac - STACR                         | Freddie Mac STACR REMIC Trust 2022-DNA3                                     | CUSIP: 35564KWG0<br>LEI: 5493000IS4M3TZMRB410 | Long             | ABS-MBS          | CORP              | US        |   1700000 | PA      | $1901898.80   | 0.19%             | 2042-04-25      | Floating      | 14.06%                | No            |                  2 | On Loan: No      |
| UBS Commercial Mortgage Trust               | UBS Commercial Mortgage Trust 2018-C15                                      | CUSIP: 90278LBD0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    650000 | PA      | $618922.27    | 0.06%             | 2051-12-15      | Variable      | 5.31%                 | No            |                  2 | On Loan: No      |
| Bank                                        | BANK 2022-BNK44                                                             | CUSIP: 06540KBQ1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1000000 | PA      | $768432.00    | 0.07%             | 2032-11-15      | Variable      | 4.00%                 | No            |                  2 | On Loan: No      |
| PRP Advisors, LLC                           | PRPM 2025-RCF3 LLC                                                          | CUSIP: 69392PAB1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    730000 | PA      | $715361.24    | 0.07%             | 2055-07-01      | Variable      | 5.25%                 | No            |                  2 | On Loan: No      |
| BX Trust                                    | BX Commercial Mortgage Trust 2023-XL3                                       | CUSIP: 12434GAA3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1074013 | PA      | $1078439.66   | 0.11%             | 2040-12-09      | Floating      | 6.07%                 | No            |                  2 | On Loan: No      |
| Aimco                                       | AIMCO CLO 16 Ltd                                                            | CUSIP: 00901FAN6<br>LEI: 254900Q0PCRO7XC6LM21 | Long             | ABS-CBDO         | CORP              | KY        |    500000 | PA      | $501550.00    | 0.05%             | 2037-07-17      | Floating      | 5.93%                 | No            |                  2 | On Loan: No      |
| CoreVest American Finance Ltd               | CAFL 2023-RTL1 Issuer LLC                                                   | CUSIP: 124762AB1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    580000 | PA      | $588052.20    | 0.06%             | 2030-12-28      | Variable      | 9.30%                 | No            |                  2 | On Loan: No      |
| NRZ Excess Spread Collateraliz              | NRM FHT1 Excess Owner LLC                                                   | CUSIP: 64832EAA7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    696731 | PA      | $700288.99    | 0.07%             | 2032-03-25      | Variable      | 6.54%                 | No            |                  2 | On Loan: No      |
| JP Morgan Chase Commercial Mor              | JP Morgan Chase Commercial Mortgage Securities Trust 2020-MKST              | CUSIP: 46652DAN5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    175000 | PA      | $166.25       | 0.00%             | 2036-12-15      | Floating      | 9.18%                 | No            |                  2 | On Loan: No      |
| Fannie Mae - CAS                            | Connecticut Avenue Securities Trust 2021-R03                                | CUSIP: 20754AAJ2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    695000 | PA      | $724834.75    | 0.07%             | 2041-12-25      | Floating      | 9.81%                 | No            |                  2 | On Loan: No      |
| CSAIL Commercial Mortgage Trus              | CSAIL 2015-C3 Commercial Mortgage Trust                                     | CUSIP: 12635FAZ7<br>LEI: 549300ZAGI6FKGY8O078 | Long             | ABS-MBS          | CORP              | US        |    190000 | PA      | $163063.78    | 0.02%             | 2048-08-15      | Variable      | 4.42%                 | No            |                  2 | On Loan: No      |
| Credit Suisse Mortgage Trust                | CSMC Trust 2017-CHOP                                                        | CUSIP: 12651QAU3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1000000 | PA      | $967987.50    | 0.09%             | 2032-07-15      | Floating      | 11.79%                | No            |                  2 | On Loan: No      |
| BX Trust                                    | BX Trust 2021-SDMF                                                          | CUSIP: 12434CAQ7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    941921 | PA      | $930958.66    | 0.09%             | 2034-09-15      | Floating      | 6.36%                 | No            |                  2 | On Loan: No      |
| MF1 Multifamily Housing Mortga              | MF1 2025-FL17 LLC                                                           | CUSIP: 55287HAL4<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |    360000 | PA      | $357031.33    | 0.03%             | 2040-02-18      | Floating      | 7.80%                 | No            |                  2 | On Loan: No      |
| Avis Budget Rental Car Funding              | Avis Budget Rental Car Funding AESOP LLC                                    | CUSIP: 05377RKK9<br>LEI: IHXLB8SL0QWSSG2VG640 | Long             | ABS-O            | CORP              | US        |   1000000 | PA      | $1016148.60   | 0.10%             | 2028-10-20      | Fixed         | 7.43%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                 | Freddie Mac REMICS                                                          | CUSIP: 3137HKRE6<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   3550138 | PA      | $725493.50    | 0.07%             | 2055-04-25      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Dwight 2025-FL1 Issuer LLC                  | Dwight 2025-FL1 Issuer LLC                                                  | CUSIP: 233636AL3<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |    750000 | PA      | $749045.78    | 0.07%             | 2042-09-18      | Floating      | 9.24%                 | No            |                  2 | On Loan: No      |
| LHOME Mortgage Trust                        | LHOME Mortgage Trust 2024-RTL1                                              | CUSIP: 50205DAB5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    650000 | PA      | $656472.44    | 0.06%             | 2029-01-25      | Variable      | 9.16%                 | No            |                  2 | On Loan: No      |
| SMR 2022-IND Mortgage Trust                 | SMR 2022-IND Mortgage Trust                                                 | CUSIP: 78458MAL8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    824109 | PA      | $810152.23    | 0.08%             | 2039-02-15      | Floating      | 10.31%                | No            |                  2 | On Loan: No      |
| PRKCM Trust                                 | PRKCM 2024-AFC1 Trust                                                       | CUSIP: 69380WAF1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    550000 | PA      | $550398.75    | 0.05%             | 2059-03-25      | Variable      | 8.44%                 | No            |                  2 | On Loan: No      |
| Freddie Mac - STACR                         | Freddie Mac STACR REMIC Trust 2025-DNA2                                     | CUSIP: 35564NJA2<br>LEI: 529900XX8WXEM4FBIH80 | Long             | ABS-MBS          | CORP              | US        |   1150000 | PA      | $1152927.56   | 0.11%             | 2045-05-25      | Floating      | 5.81%                 | No            |                  2 | On Loan: No      |
| Hospitality Investors Trust                 | HIT Trust 2022-HI32                                                         | CUSIP: 40442AAN9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    845069 | PA      | $856759.41    | 0.08%             | 2039-07-15      | Floating      | 11.54%                | No            |                  2 | On Loan: No      |
| Freddie Mac - STACR                         | Freddie Mac STACR Trust 2019-DNA3                                           | CUSIP: 35564TBE9<br>LEI: 549300KB1O80CETXGJ21 | Long             | ABS-MBS          | CORP              | US        |    750000 | PA      | $859157.25    | 0.08%             | 2049-07-25      | Floating      | 12.57%                | No            |                  2 | On Loan: No      |
| ARES Commercial Mortgage Trust              | ARES1 2024-IND2                                                             | CUSIP: 04021EAA4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1500000 | PA      | $1503450.00   | 0.15%             | 2034-10-15      | Floating      | 5.75%                 | No            |                  2 | On Loan: No      |
| Angel Oak Mortgage Trust                    | Angel Oak Mortgage Trust 2025-6                                             | CUSIP: 034937AC6<br>LEI: 254900GRN1I3WMM1H095 | Long             | ABS-MBS          | CORP              | US        |    885488 | PA      | $890259.92    | 0.09%             | 2070-04-25      | Variable      | 5.92%                 | No            |                  2 | On Loan: No      |
| Verus Securitization Trust                  | Verus Securitization Trust 2024-4                                           | CUSIP: 92540GAE8<br>LEI: 213800WNY873LW1L3M73 | Long             | ABS-MBS          | CORP              | US        |    240000 | PA      | $243877.78    | 0.02%             | 2069-06-25      | Variable      | 7.64%                 | No            |                  2 | On Loan: No      |
| Verus Securitization Trust                  | Verus Securitization Trust 2024-8                                           | CUSIP: 92540PAE8<br>LEI: 213800RZ8QGNZ38DSP77 | Long             | ABS-MBS          | CORP              | US        |   1000000 | PA      | $1001884.60   | 0.10%             | 2069-10-25      | Variable      | 7.03%                 | No            |                  2 | On Loan: No      |
| LHOME Mortgage Trust                        | LHOME Mortgage Trust 2025-RTL1                                              | CUSIP: 50205UAC5<br>LEI: 5299002NGIWITLMXOH85 | Long             | ABS-MBS          | CORP              | US        |    500000 | PA      | $501094.40    | 0.05%             | 2040-01-25      | Variable      | 7.02%                 | No            |                  2 | On Loan: No      |
| 280 Park Avenue Mortgage Trust              | 280 Park Avenue 2017-280P Mortgage Trust                                    | CUSIP: 90205FAN0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   2130000 | PA      | $2053312.55   | 0.20%             | 2034-09-15      | Floating      | 6.73%                 | No            |                  2 | On Loan: No      |
| Switch ABS Issuer, LLC                      | Switch ABS Issuer LLC                                                       | CUSIP: 871044AL7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1000000 | PA      | $988091.90    | 0.10%             | 2055-03-25      | Fixed         | 5.04%                 | No            |                  2 | On Loan: No      |
| Tricon Residential                          | Tricon Residential 2024-SFR4 Trust                                          | CUSIP: 895975AD2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    990000 | PA      | $980150.39    | 0.10%             | 2041-11-17      | Fixed         | 5.35%                 | No            |                  2 | On Loan: No      |
| Summit at Surprise                          | Summit at Surprise                                                          | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  23874278 | PA      | $23874278.00  | 2.33%             | 2099-03-31      | Floating      | 0.01%                 | No            |                  3 | On Loan: No      |
| Bank                                        | BANK 2022-BNK44                                                             | CUSIP: 06540KBS7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    300000 | PA      | $217399.95    | 0.02%             | 2032-11-15      | Variable      | 4.00%                 | No            |                  2 | On Loan: No      |
| Boca Commercial Mortgage Trust              | BOCA Commercial Mortgage Trust 2024-BOCA                                    | CUSIP: 096817AJ0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    900000 | PA      | $906192.27    | 0.09%             | 2041-08-15      | Floating      | 8.75%                 | No            |                  2 | On Loan: No      |
| Fannie Mae - CAS                            | Connecticut Avenue Securities Trust 2024-R02                                | CUSIP: 20754GAF7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1000000 | PA      | $1019249.30   | 0.10%             | 2044-02-25      | Floating      | 6.81%                 | No            |                  2 | On Loan: No      |
| Avilla Suncoast                             | Avilla Suncoast                                                             | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   8319205 | PA      | $8319204.57   | 0.81%             | 2099-03-31      | Floating      | 0.01%                 | No            |                  3 | On Loan: No      |
| PRKCM Trust                                 | PRKCM 2023-AFC1 Trust                                                       | CUSIP: 693981AD4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    430000 | PA      | $434711.85    | 0.04%             | 2058-02-25      | Variable      | 7.44%                 | No            |                  2 | On Loan: No      |
| Santander Mortgage Asset Recei              | Santander Mortgage Asset Receivable Trust 2025-NQM2                         | CUSIP: 802638AE6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    973831 | PA      | $980521.85    | 0.10%             | 2065-02-25      | Variable      | 6.04%                 | No            |                  2 | On Loan: No      |
| JP Morgan Chase Commercial Mor              | J.P. Morgan Chase Commercial Mortgage Securities Trust 2021-HTL5            | CUSIP: 46654PAQ9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    500000 | PA      | $489696.60    | 0.05%             | 2038-11-15      | Floating      | 8.84%                 | No            |                  2 | On Loan: No      |
| Freddie Mac - STACR                         | Freddie Mac STACR REMIC Trust 2021-DNA2                                     | CUSIP: 35565KBE7<br>LEI: 5493007ZK0X40BI7UF30 | Long             | ABS-MBS          | CORP              | US        |    750000 | PA      | $823996.80    | 0.08%             | 2050-02-25      | Floating      | 9.22%                 | No            |                  2 | On Loan: No      |
| Regional Airport Center II                  | Regional Airport Center II                                                  | CUSIP: 000000000<br>LEI: N/A                  | Long             | RE               | CORP              | US        |         1 | OU      | $18300000.00  | 1.78%             |  |  |  | No            |                  3 | On Loan: No      |
| Wave USA                                    | WAVE 2019-1 LLC                                                             | CUSIP: 94354KAA8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1026697 | PA      | $985356.96    | 0.10%             | 2044-09-15      | Fixed         | 3.60%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                 | Freddie Mac REMICS                                                          | CUSIP: 3137HCMV1<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   3077067 | PA      | $661707.80    | 0.06%             | 2054-04-25      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Verus Securitization Trust                  | Verus Securitization Trust 2023-3                                           | CUSIP: 92539GAE1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    450000 | PA      | $451161.09    | 0.04%             | 2068-03-25      | Variable      | 7.76%                 | No            |                  2 | On Loan: No      |
| Fannie Mae - CAS                            | Connecticut Avenue Securities Trust 2021-R01                                | CUSIP: 20754RAF3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    500000 | PA      | $512420.20    | 0.05%             | 2041-10-25      | Floating      | 7.41%                 | No            |                  2 | On Loan: No      |
| COLT Funding LLC                            | COLT 2022-2 Mortgage Loan Trust                                             | CUSIP: 19685EAE1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    500000 | PA      | $409744.05    | 0.04%             | 2067-02-25      | Variable      | 3.95%                 | No            |                  2 | On Loan: No      |
| Toorak Mortgage Corp.                       | Toorak Mortgage Trust 2024-RRTL1                                            | CUSIP: 890938AE3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    240000 | PA      | $243580.80    | 0.02%             | 2039-02-25      | Variable      | 10.33%                | No            |                  2 | On Loan: No      |
| BX Trust                                    | BX Commercial Mortgage Trust 2024-KING                                      | CUSIP: 05612RAJ8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1480509 | PA      | $1483100.57   | 0.14%             | 2034-05-15      | Floating      | 8.00%                 | No            |                  2 | On Loan: No      |
| Brickstone Boulder Pearl Mezz               | Brickstone Boulder Pearl Mezz                                               | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   8100000 | PA      | $8100000.00   | 0.79%             | 2027-07-01      | Floating      | 18.50%                | No            |                  3 | On Loan: No      |
| MSWF Commercial Mortgage Trust              | MSWF Commercial Mortgage Trust 2023-1                                       | CUSIP: 55376CBN2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1344000 | PA      | $982362.39    | 0.10%             | 2056-05-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Saluda Grade Alternative Mortg              | Saluda Grade Alternative Mortgage Trust 2024-RTL5                           | CUSIP: 795935AA3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    560000 | PA      | $564072.43    | 0.05%             | 2030-04-25      | Variable      | 7.76%                 | No            |                  2 | On Loan: No      |
| JP Morgan Chase Commercial Mor              | JP Morgan Chase Commercial Mortgage Securities Trust 2021-NYMZ              | CUSIP: 46654GAA4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    500000 | PA      | $108849.00    | 0.01%             | 2026-06-15      | Floating      | 11.93%                | No            |                  2 | On Loan: No      |
| Freddie Mac - STACR                         | Freddie Mac STACR REMIC Trust 2019-HQA4                                     | CUSIP: 35565CBE5<br>LEI: 5493005LAQ76UDHPEE03 | Long             | ABS-MBS          | CORP              | US        |    710000 | PA      | $789752.38    | 0.08%             | 2049-11-25      | Floating      | 11.02%                | No            |                  2 | On Loan: No      |
| Ellington Financial Mortgage T              | Ellington Financial Mortgage Trust 2022-1                                   | CUSIP: 31573CAE5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    750000 | PA      | $549193.05    | 0.05%             | 2067-01-25      | Variable      | 3.87%                 | No            |                  2 | On Loan: No      |
| Freddie Mac - SCRT                          | Freddie Mac Seasoned Credit Risk Transfer Trust Series 2022-1               | CUSIP: 35563PD71<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |   1702479 | PA      | $678930.79    | 0.07%             | 2061-11-25      | Variable      | 4.22%                 | No            |                  2 | On Loan: No      |
| 456 Sullivan Avenue                         | 456 Sullivan Avenue                                                         | CUSIP: 000000000<br>LEI: N/A                  | Long             | RE               | CORP              | US        |         1 | OU      | $20425000.00  | 1.99%             |  |  |  | No            |                  3 | On Loan: No      |
| Structured Asset Investment Lo              | Structured Asset Investment Loan Trust 2005-HE1                             | CUSIP: 86358EUW4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    680540 | PA      | $656218.91    | 0.06%             | 2035-07-25      | Floating      | 5.15%                 | No            |                  2 | On Loan: No      |
| Bank                                        | BANK 2021-BNK35                                                             | CUSIP: 06540CCJ4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   3076923 | PA      | $1004411.67   | 0.10%             | 2064-06-15      | Variable      | 1.77%                 | No            |                  2 | On Loan: No      |
| TPG Real Estate Finance                     | TRTX 2022-FL5 Issuer Ltd                                                    | CUSIP: 87277JAL5<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    500000 | PA      | $461924.00    | 0.05%             | 2039-02-15      | Floating      | 8.66%                 | No            |                  2 | On Loan: No      |
| 55 Messina Drive                            | 55 Messina Drive                                                            | CUSIP: 000000000<br>LEI: N/A                  | Long             | RE               | CORP              | US        |         1 | OU      | $17900000.00  | 1.74%             |  |  |  | No            |                  3 | On Loan: No      |
| SWCH Commercial Mortgage Trust              | SWCH Commercial Mortgage Trust 2025-DATA                                    | CUSIP: 78489CAE9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1000000 | PA      | $993371.00    | 0.10%             | 2042-02-15      | Floating      | 7.65%                 | No            |                  2 | On Loan: No      |
| Dreyfus Government Cash Management          | Dreyfus Government Cash Management                                          | CUSIP: 262006208<br>LEI: 5493000Q69I5Q3QZIA91 | Long             | STIV             | RF                | US        |  35934873 | NS      | $35934872.60  | 3.50%             |  |  |  | No            |                  1 | On Loan: No      |
| Freddie Mac - SCRT                          | Freddie Mac Seasoned Credit Risk Transfer Trust Series 2017-1               | CUSIP: 35563PAT6<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |   1697168 | PA      | $1638123.15   | 0.16%             | 2056-01-25      | Variable      | 4.00%                 | No            |                  2 | On Loan: No      |
| Bank                                        | BANK 2023-BNK45                                                             | CUSIP: 06541BAL2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    637000 | PA      | $486757.24    | 0.05%             | 2056-02-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| MF1 Multifamily Housing Mortga              | MF1 2025-FL17 LLC                                                           | CUSIP: 55287HAJ9<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |   2340000 | PA      | $2304884.56   | 0.22%             | 2040-02-18      | Floating      | 7.06%                 | No            |                  2 | On Loan: No      |
| CKE Restaurants Holdings Inc                | Hardee's Funding LLC                                                        | CUSIP: 411707AM4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    987500 | PA      | $1020721.67   | 0.10%             | 2054-03-20      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| BX Trust                                    | BX Trust 2021-ARIA                                                          | CUSIP: 05608RAQ8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1500000 | PA      | $1489554.75   | 0.15%             | 2036-10-15      | Floating      | 7.57%                 | No            |                  2 | On Loan: No      |
| Onslow Bay Financial LLC                    | OBX 2022-NQM7 Trust                                                         | CUSIP: 67117DAC4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    447273 | PA      | $446738.26    | 0.04%             | 2062-08-25      | Variable      | 5.70%                 | No            |                  2 | On Loan: No      |
| GS Mortgage Securities Trust                | GS Mortgage Securities Trust 2015-GC32                                      | CUSIP: 36250PAM7<br>LEI: 54930066YOFVQE068N73 | Long             | ABS-MBS          | CORP              | US        |   1500000 | PA      | $1402089.75   | 0.14%             | 2048-07-10      | Fixed         | 3.35%                 | No            |                  2 | On Loan: No      |
| SMRT                                        | SMRT 2022-MINI                                                              | CUSIP: 78457JAN2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1650000 | PA      | $1624332.44   | 0.16%             | 2039-01-15      | Floating      | 7.01%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A              | Government National Mortgage Association                                    | CUSIP: 38379FAG4<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   2571639 | PA      | $522419.20    | 0.05%             | 2045-10-20      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Saluda Grade Alternative Mortg              | Saluda Grade Alternative Mortgage Trust 2024-RTL4                           | CUSIP: 79584CAB7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    580000 | PA      | $580368.42    | 0.06%             | 2030-02-25      | Variable      | 7.50%                 | No            |                  2 | On Loan: No      |
| FREMF Mortgage Trust                        | FREMF 2021-KF117 Mortgage Trust                                             | CUSIP: 30320YAE5<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |    680714 | PA      | $623342.03    | 0.06%             | 2031-07-25      | Floating      | 10.71%                | No            |                  2 | On Loan: No      |
| Freddie Mac                                 | Freddie Mac REMICS                                                          | CUSIP: 3137H24R2<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   3737806 | PA      | $544313.48    | 0.05%             | 2049-05-25      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| MF1 Multifamily Housing Mortga              | MF1 2020-FL4 Ltd                                                            | CUSIP: 58003UAA6<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |    126365 | PA      | $126600.59    | 0.01%             | 2035-12-15      | Floating      | 6.13%                 | No            |                  2 | On Loan: No      |
| CIFC Funding Ltd                            | CIFC Funding 2018-IV Ltd                                                    | CUSIP: 17181TAN1<br>LEI: 254900PA63PFHC11GD90 | Long             | ABS-CBDO         | CORP              | KY        |    500000 | PA      | $500375.00    | 0.05%             | 2038-01-17      | Floating      | 6.02%                 | No            |                  2 | On Loan: No      |
| Brickstone Boulder Lodge Mezz               | Brickstone Boulder Lodge Mezz                                               | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  21400000 | PA      | $21400000.00  | 2.09%             | 2027-07-01      | Floating      | 18.50%                | No            |                  3 | On Loan: No      |
| Willis Engine Securitization T              | Willis Engine Structured Trust VIII                                         | CUSIP: 97063RAB6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1000000 | PA      | $1012704.50   | 0.10%             | 2050-06-15      | Fixed         | 6.07%                 | No            |                  2 | On Loan: No      |
| Bank                                        | BANK 2021-BNK34                                                             | CUSIP: 06541JBW0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    850000 | PA      | $408401.63    | 0.04%             | 2063-06-15      | Fixed         | 2.25%                 | No            |                  2 | On Loan: No      |
| The Sheds on Charlotte                      | The Sheds on Charlotte                                                      | CUSIP: 000000000<br>LEI: N/A                  | Long             | RE               | CORP              | US        |         1 | OU      | $41200000.00  | 4.02%             |  |  |  | No            |                  3 | On Loan: No      |
| Neuberger Berman CLO Ltd                    | Neuberger Berman Loan Advisers CLO 48 Ltd                                   | CUSIP: 64135GAC2<br>LEI: 549300FC7JRIZ6YLHK36 | Long             | ABS-CBDO         | CORP              | JE        |    400000 | PA      | $401384.72    | 0.04%             | 2036-04-25      | Floating      | 5.78%                 | No            |                  2 | On Loan: No      |
| ARBOR REALTY TRUST INC                      | Arbor Realty Trust Inc                                                      | CUSIP: 038923850<br>LEI: 549300ASFUWYQO0RW077 | Long             | EP               | CORP              | US        |     45278 | NS      | $919596.18    | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Wells Fargo Commercial Mortgag              | Wells Fargo Commercial Mortgage Trust 2022-JS2                              | CUSIP: 95003GAQ4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    750000 | PA      | $550618.58    | 0.05%             | 2039-12-15      | Variable      | 3.57%                 | No            |                  2 | On Loan: No      |
| Citigroup Commercial Mortgage               | Citigroup Commercial Mortgage Trust 2015-GC29                               | CUSIP: 17323VAA3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1100000 | PA      | $786280.00    | 0.08%             | 2048-04-10      | Fixed         | 3.11%                 | No            |                  2 | On Loan: No      |
| New York Mortgage Trust                     | NYMT Loan Trust Series 2024-BPL1                                            | CUSIP: 62956MAB1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    530000 | PA      | $534067.22    | 0.05%             | 2029-02-25      | Variable      | 8.62%                 | No            |                  2 | On Loan: No      |
| Bank5                                       | BANK5 2024-5YR12                                                            | CUSIP: 06644XAN6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    300000 | PA      | $237833.16    | 0.02%             | 2057-12-15      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| Southpark Meadows Mezzanine                 | Southpark Meadows Mezzanine                                                 | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  31000000 | PA      | $31000000.00  | 3.02%             | 2027-11-10      | Floating      | 0.01%                 | No            |                  3 | On Loan: No      |
| Cascade MH Asset Trust                      | Cascade MH Asset Trust 2019-MH1                                             | CUSIP: 14732FAC6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    300000 | PA      | $288399.36    | 0.03%             | 2044-11-25      | Variable      | 5.99%                 | No            |                  2 | On Loan: No      |
| HIH Trust                                   | HIH Trust 2024-61P                                                          | CUSIP: 40444VAL5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1477881 | PA      | $1473973.60   | 0.14%             | 2041-10-15      | Floating      | 9.75%                 | No            |                  2 | On Loan: No      |
| Fannie Mae - CAS                            | Connecticut Avenue Securities Trust 2024-R01                                | CUSIP: 20753UAJ9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    340000 | PA      | $352375.90    | 0.03%             | 2044-01-25      | Floating      | 8.31%                 | No            |                  2 | On Loan: No      |
| MF1 Multifamily Housing Mortga              | MF1 2024-FL15                                                               | CUSIP: 58003MAJ5<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |    400000 | PA      | $401263.64    | 0.04%             | 2041-08-18      | Floating      | 8.35%                 | No            |                  2 | On Loan: No      |
| GS Mortgage Securities Trust                | GS Mortgage Securities Corp II                                              | CUSIP: 36269JAL2<br>LEI: 5493005BBCF84ICNQ550 | Long             | ABS-MBS          | CORP              | US        |   1050000 | PA      | $1099016.31   | 0.11%             | 2041-03-10      | Variable      | 9.26%                 | No            |                  2 | On Loan: No      |
| GS Mortgage-Backed Securities               | GS Mortgage-Backed Securities Trust 2024-RPL4                               | CUSIP: 362948AA9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    917586 | PA      | $892779.44    | 0.09%             | 2061-09-25      | Variable      | 3.90%                 | No            |                  2 | On Loan: No      |
| BFLD Trust                                  | BFLD Commercial Mortgage Trust 2024-UNIV                                    | CUSIP: 08861RAJ0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1500000 | PA      | $1503361.35   | 0.15%             | 2041-11-15      | Floating      | 7.95%                 | No            |                  2 | On Loan: No      |
| BX Trust                                    | BX Commercial Mortgage Trust 2025-SPOT                                      | CUSIP: 12433FAJ7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1250000 | PA      | $1244535.13   | 0.12%             | 2040-04-15      | Floating      | 8.00%                 | No            |                  2 | On Loan: No      |
| Onslow Bay Financial LLC                    | OBX 2022-NQM1 Trust                                                         | CUSIP: 67114VAB9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    750000 | PA      | $569819.18    | 0.06%             | 2061-11-25      | Variable      | 3.00%                 | No            |                  2 | On Loan: No      |
| BX Trust                                    | BX Commercial Mortgage Trust 2022-LP2                                       | CUSIP: 05610HAN3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    350000 | PA      | $349769.39    | 0.03%             | 2039-02-15      | Floating      | 8.42%                 | No            |                  2 | On Loan: No      |
| Argent Securities Inc.                      | Argent Securities Inc Asset-Backed Pass-Through Certificates Series 2003-W7 | CUSIP: 040104BF7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    220596 | PA      | $206444.47    | 0.02%             | 2033-09-25      | Floating      | 4.18%                 | No            |                  2 | On Loan: No      |
| Greystone Commercial Real Esta              | Greystone CRE Notes 2024-HC3                                                | CUSIP: 39808MAJ2<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    750000 | PA      | $747267.60    | 0.07%             | 2041-03-15      | Floating      | 9.64%                 | No            |                  2 | On Loan: No      |
| Freddie Mac - STACR                         | Freddie Mac STACR Trust 2019-FTR3                                           | CUSIP: 35565EAE2<br>LEI: 5493009ZFZYH4FRCW638 | Long             | ABS-MBS          | CORP              | US        |    800000 | PA      | $874517.60    | 0.09%             | 2047-09-25      | Floating      | 9.24%                 | No            |                  2 | On Loan: No      |
| Eagle Re Ltd                                | Eagle RE 2023-1 Ltd                                                         | CUSIP: 26982EAG1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | BM        |    920000 | PA      | $977224.74    | 0.10%             | 2033-09-26      | Floating      | 9.51%                 | No            |                  2 | On Loan: No      |
| Wells Fargo Commercial Mortgag              | Wells Fargo Commercial Mortgage Trust 2022-ONL                              | CUSIP: 95003WAN6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    500000 | PA      | $408466.05    | 0.04%             | 2039-12-15      | Variable      | 5.09%                 | No            |                  2 | On Loan: No      |
| Dwight 2025-FL1 Issuer LLC                  | Dwight 2025-FL1 Issuer LLC                                                  | CUSIP: 233636AA7<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |   1000000 | PA      | $999915.80    | 0.10%             | 2042-09-18      | Floating      | 5.96%                 | No            |                  2 | On Loan: No      |
| Verus Securitization Trust                  | Verus Securitization Trust 2023-5                                           | CUSIP: 924934AE2<br>LEI: 984500BADC7CFE3B0756 | Long             | ABS-MBS          | CORP              | US        |   2000000 | PA      | $2011638.80   | 0.20%             | 2068-06-25      | Variable      | 8.02%                 | No            |                  2 | On Loan: No      |
| Anchor Mortgage Trust                       | Anchor Mortgage Trust 2025-RTL1                                             | CUSIP: 03290CAB2<br>LEI: 254900S7O2LYCU17JI96 | Long             | ABS-MBS          | CORP              | US        |   1470000 | PA      | $1473651.33   | 0.14%             | 2040-05-25      | Variable      | 6.36%                 | No            |                  2 | On Loan: No      |
| Long Beach Mortgage Loan Trust              | Long Beach Mortgage Loan Trust 2005-1                                       | CUSIP: 542514KC7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    145533 | PA      | $143198.82    | 0.01%             | 2035-02-25      | Floating      | 5.71%                 | No            |                  2 | On Loan: No      |
| Freddie Mac - STACR                         | Freddie Mac STACR REMIC Trust 2021-DNA3                                     | CUSIP: 35564KFH7<br>LEI: 5493000ISUYHCRLRBE46 | Long             | ABS-MBS          | CORP              | US        |    725000 | PA      | $897152.41    | 0.09%             | 2033-10-25      | Floating      | 10.56%                | No            |                  2 | On Loan: No      |
| Aertson Midtown Mezzanine Term Loan         | Aertson Midtown Mezzanine Term Loan                                         | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |  18000000 | PA      | $17971974.00  | 1.75%             | 2025-10-01      | Floating      | 8.76%                 | No            |                  3 | On Loan: No      |
| Ellington Financial Mortgage T              | Ellington Financial Mortgage Trust 2020-2                                   | CUSIP: 31573WAF8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    500000 | PA      | $468980.95    | 0.05%             | 2065-10-25      | Variable      | 4.80%                 | No            |                  2 | On Loan: No      |
| Fannie Mae - CAS                            | Connecticut Avenue Securities Trust 2020-R01                                | CUSIP: 20754CAF6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    140000 | PA      | $143576.44    | 0.01%             | 2040-01-25      | Floating      | 7.67%                 | No            |                  2 | On Loan: No      |
| CHIMERA INVESTMENT CORP                     | Chimera Investment Corp                                                     | CUSIP: 16934Q505<br>LEI: 2JBBQFJOL123LOUBE657 | Long             | EP               | CORP              | US        |     76166 | NS      | $1719066.62   | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| 12000 E 56th                                | 12000 E 56th                                                                | CUSIP: 000000000<br>LEI: N/A                  | Long             | RE               | CORP              | US        |         1 | OU      | $12200000.00  | 1.19%             |  |  |  | No            |                  3 | On Loan: No      |
| MTN Commercial Mortgage Trust               | MTN Commercial Mortgage Trust 2022-LPFL                                     | CUSIP: 62475WAL9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    500000 | PA      | $501296.10    | 0.05%             | 2039-03-15      | Floating      | 9.61%                 | No            |                  2 | On Loan: No      |
| PRKCM Trust                                 | PRKCM 2024-AFC1 Trust                                                       | CUSIP: 69380WAB0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    810482 | PA      | $819166.27    | 0.08%             | 2059-03-25      | Variable      | 6.64%                 | No            |                  2 | On Loan: No      |
| AGL CLO Ltd.                                | AGL CLO 35 Ltd                                                              | CUSIP: 00852KAD6<br>LEI: 254900LDCU83O7QV9777 | Long             | ABS-CBDO         | CORP              | KY        |    500000 | PA      | $502625.00    | 0.05%             | 2038-01-21      | Floating      | 6.17%                 | No            |                  2 | On Loan: No      |
| Cerberus-Outour IOS Portfolio               | Cerberus-Outour IOS Portfolio                                               | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  66500000 | PA      | $66500000.00  | 6.48%             | 2099-03-31      | Floating      | 0.01%                 | No            |                  3 | On Loan: No      |
| Freddie Mac - STACR                         | Freddie Mac STACR REMIC Trust 2022-DNA2                                     | CUSIP: 35564KRN1<br>LEI: 5493000ISA3AUOXQEF68 | Long             | ABS-MBS          | CORP              | US        |   1446000 | PA      | $1502746.82   | 0.15%             | 2042-02-25      | Floating      | 8.06%                 | No            |                  2 | On Loan: No      |
| KREF 2021-FL2 Ltd                           | KREF 2021-FL2 Ltd                                                           | CUSIP: 48275RAG2<br>LEI: 54930083ELM2GCMVTQ91 | Long             | ABS-CBDO         | CORP              | KY        |    928500 | PA      | $911347.45    | 0.09%             | 2039-02-15      | Floating      | 6.43%                 | No            |                  2 | On Loan: No      |
| SERVICE PROPERTIES TRUST                    | Service Properties Trust                                                    | CUSIP: 81761LAC6<br>LEI: 529900IS770AG1K9QG27 | Long             | DBT              | CORP              | US        |    570000 | PA      | $612323.64    | 0.06%             | 2031-11-15      | Fixed         | 8.62%                 | No            |                  2 | On Loan: No      |
| TWO HARBORS INV CORP                        | Two Harbors Investment Corp                                                 | CUSIP: 90187BAB7<br>LEI: 549300ZUIBT6KH4HU823 | Long             | DBT              | CORP              | US        |   1710000 | PA      | $1681785.00   | 0.16%             | 2026-01-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| 73rd & Washington                           | 73rd & Washington                                                           | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  19959888 | PA      | $19959888.14  | 1.95%             | 2099-03-31      | Floating      | 0.01%                 | No            |                  3 | On Loan: No      |
| The Biltmore Apartments                     | The Biltmore Apartments                                                     | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  43000000 | PA      | $43000000.00  | 4.19%             | 2027-07-01      | Floating      | 0.01%                 | No            |                  3 | On Loan: No      |
| Natixis Commercial Mortgage Se              | Natixis Commercial Mortgage Securities Trust 2022-JERI                      | CUSIP: 63875LAS2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   3000000 | PA      | $2402175.60   | 0.23%             | 2039-01-15      | Floating      | 11.92%                | No            |                  2 | On Loan: No      |
| BX Trust                                    | BX Commercial Mortgage Trust 2019-IMC                                       | CUSIP: 05608BAS9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1869000 | PA      | $1800856.82   | 0.18%             | 2034-04-15      | Floating      | 7.96%                 | No            |                  2 | On Loan: No      |
| Morgan Stanley Capital Inc                  | Morgan Stanley ABS Capital I Inc Trust 2004-HE6                             | CUSIP: 61744CFA9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   2262138 | PA      | $2108654.76   | 0.21%             | 2034-08-25      | Floating      | 5.11%                 | No            |                  2 | On Loan: No      |
| Natixis Commercial Mortgage Se              | Natixis Commercial Mortgage Securities Trust 2022-RRI                       | CUSIP: 63875JAN8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1500000 | PA      | $1497553.50   | 0.15%             | 2035-03-15      | Floating      | 9.50%                 | No            |                  2 | On Loan: No      |
| Freddie Mac - SCRT                          | Freddie Mac Seasoned Credit Risk Transfer Trust Series 2021-1               | CUSIP: 35563PWX3<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |    742660 | PA      | $546570.37    | 0.05%             | 2060-09-25      | Variable      | 13.42%                | No            |                  2 | On Loan: No      |
| Freddie Mac - STACR                         | Freddie Mac STACR Trust 2019-FTR1                                           | CUSIP: 35564PAC2<br>LEI: 549300MHCI0CUXMJQS62 | Long             | ABS-MBS          | CORP              | US        |    660000 | PA      | $786394.49    | 0.08%             | 2048-01-25      | Floating      | 12.77%                | No            |                  2 | On Loan: No      |
| Citigroup Commercial Mortgage               | Citigroup Commercial Mortgage Trust 2015-P1                                 | CUSIP: 17324DAA2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    740000 | PA      | $711592.51    | 0.07%             | 2048-09-15      | Fixed         | 3.23%                 | No            |                  2 | On Loan: No      |
| JP Morgan Chase Commercial Mor              | JP Morgan Chase Commercial Mortgage Securities Trust 2015-JP1               | CUSIP: 46590KAL8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1500000 | PA      | $1391696.85   | 0.14%             | 2049-01-15      | Variable      | 4.38%                 | No            |                  2 | On Loan: No      |
| FS Rialto Issuer Ltd                        | FS Rialto 2025-FL10 Issuer LLC                                              | CUSIP: 30340KAJ0<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |   1000000 | PA      | $979301.00    | 0.10%             | 2042-08-19      | Floating      | 7.01%                 | No            |                  2 | On Loan: No      |
| BX Trust                                    | BX Commercial Mortgage Trust 2024-BIO2                                      | CUSIP: 05613GAG7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1000000 | PA      | $995998.90    | 0.10%             | 2041-08-13      | Variable      | 7.97%                 | No            |                  2 | On Loan: No      |
| Credit Suisse Mortgage Trust                | CSMC 2021-INV2 Trust                                                        | CUSIP: 12659TBW4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |  35590757 | PA      | $1010898.50   | 0.10%             | 2056-11-25      | Variable      | 0.50%                 | No            |                  2 | On Loan: No      |
| Farmer Mac Agricultural Real E              | FARM 2024-2 Mortgage Trust                                                  | CUSIP: 307910AE9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    641585 | PA      | $570844.52    | 0.06%             | 2054-08-01      | Variable      | 5.59%                 | No            |                  2 | On Loan: No      |
| Freddie Mac - STACR                         | Freddie Mac STACR REMIC Trust 2021-DNA5                                     | CUSIP: 35564KJB6<br>LEI: 5493000ISU5NYXNHD479 | Long             | ABS-MBS          | CORP              | US        |   1500000 | PA      | $1775457.75   | 0.17%             | 2034-01-25      | Floating      | 9.81%                 | No            |                  2 | On Loan: No      |
| Rojas East                                  | Rojas East                                                                  | CUSIP: 000000000<br>LEI: N/A                  | Long             | RE               | CORP              | US        |         1 | OU      | $52600000.00  | 5.13%             |  |  |  | No            |                  3 | On Loan: No      |
| Verus Securitization Trust                  | Verus Securitization Trust 2022-6                                           | CUSIP: 92539AAA2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1137589 | PA      | $1132982.83   | 0.11%             | 2067-06-25      | Variable      | 4.91%                 | No            |                  2 | On Loan: No      |
| AGNC INVESTMENT CORP                        | AGNC Investment Corp                                                        | CUSIP: 00123Q872<br>LEI: 5TRACI5HRMELWV32OF39 | Long             | EP               | CORP              | US        |     75071 | NS      | $1885032.81   | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| Fannie Mae                                  | Fannie Mae REMICS                                                           | CUSIP: 3136B8K24<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   3674300 | PA      | $523649.87    | 0.05%             | 2050-03-25      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Freddie Mac - STACR                         | Freddie Mac STACR Trust 2018-HQA2                                           | CUSIP: 35563XBE1<br>LEI: 5493005RUXPCBST1N217 | Long             | ABS-MBS          | CORP              | US        |    880000 | PA      | $1093071.06   | 0.11%             | 2048-10-25      | Floating      | 15.42%                | No            |                  2 | On Loan: No      |
| Freddie Mac - STACR                         | Freddie Mac STACR Securitized Participation Interests Trust 2017-SPI1       | CUSIP: 3137G1CG0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    152786 | PA      | $122683.46    | 0.01%             | 2047-09-25      | Variable      | 4.12%                 | No            |                  2 | On Loan: No      |
| MF1 Multifamily Housing Mortga              | MF1 2022-FL10 LLC                                                           | CUSIP: 55285BAL9<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |   1500000 | PA      | $1506054.60   | 0.15%             | 2037-09-17      | Floating      | 10.55%                | No            |                  2 | On Loan: No      |
| LHOME Mortgage Trust                        | LHOME Mortgage Trust 2024-RTL5                                              | CUSIP: 50205WAA5<br>LEI: 529900ZQNJ23BIJVY871 | Long             | ABS-MBS          | CORP              | US        |   1500000 | PA      | $1496913.60   | 0.15%             | 2039-09-25      | Variable      | 5.32%                 | No            |                  2 | On Loan: No      |
| Morgan Stanley Capital I Trust              | Morgan Stanley Capital I Trust 2021-230P                                    | CUSIP: 61772WAG2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1500000 | PA      | $1399083.90   | 0.14%             | 2038-12-15      | Floating      | 5.88%                 | No            |                  2 | On Loan: No      |
| JP Morgan Chase Commercial Mor              | J.P. Morgan Chase Commercial Mortgage Securities Trust 2017-FL11            | CUSIP: 46648PAN5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     80707 | PA      | $80010.43     | 0.01%             | 2032-10-15      | Floating      | 8.46%                 | No            |                  2 | On Loan: No      |
| BMP Trust                                   | BMP 2024-MF23                                                               | CUSIP: 05593JAJ9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1000000 | PA      | $999663.50    | 0.10%             | 2041-06-15      | Floating      | 7.70%                 | No            |                  2 | On Loan: No      |
| HSI Asset Securitization Corpo              | HSI Asset Securitization Corp Trust 2005-I1                                 | CUSIP: 40430HCN6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    407508 | PA      | $378819.81    | 0.04%             | 2035-11-25      | Floating      | 5.21%                 | No            |                  2 | On Loan: No      |
| BWAY Mortgage Trust                         | BWAY 2013-1515 Mortgage Trust                                               | CUSIP: 05604FAS4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1000000 | PA      | $869068.60    | 0.08%             | 2033-03-10      | Variable      | 4.06%                 | No            |                  2 | On Loan: No      |
| Wells Fargo Commercial Mortgag              | Wells Fargo Commercial Mortgage Trust 2015-C28                              | CUSIP: 94989JBH8<br>LEI: 549300S7ENI2U7O0XH56 | Long             | ABS-MBS          | CORP              | US        |   1500000 | PA      | $1326135.75   | 0.13%             | 2048-05-15      | Variable      | 4.25%                 | No            |                  2 | On Loan: No      |
| Bank                                        | BANK 2022-BNK43                                                             | CUSIP: 06541QAE5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   2125000 | PA      | $1446681.51   | 0.14%             | 2055-08-15      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Home Partners of America Trust              | Home Partners of America 2021-2 Trust                                       | CUSIP: 43732VAL0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    479958 | PA      | $462647.23    | 0.05%             | 2026-12-17      | Fixed         | 3.80%                 | No            |                  2 | On Loan: No      |
| BX Trust                                    | BX Commercial Mortgage Trust 2021-VOLT                                      | CUSIP: 05609VAA3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1211035 | PA      | $1207630.33   | 0.12%             | 2036-09-15      | Floating      | 5.13%                 | No            |                  2 | On Loan: No      |
| The Gates at Marina                         | The Gates at Marina                                                         | CUSIP: 000000000<br>LEI: N/A                  | Long             | RE               | CORP              | US        |         1 | OU      | $28831250.00  | 2.81%             |  |  |  | No            |                  3 | On Loan: No      |
| Banc of America Commercial Mor              | Bank of America Merrill Lynch Commercial Mortgage Trust 2017-BNK3           | CUSIP: 06427DAE3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1000000 | PA      | $848403.30    | 0.08%             | 2050-02-15      | Variable      | 4.63%                 | No            |                  2 | On Loan: No      |
| Fannie Mae - CAS                            | Connecticut Avenue Securities Trust 2022-R02                                | CUSIP: 20754BAJ0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1000000 | PA      | $1076577.40   | 0.10%             | 2042-01-25      | Floating      | 11.96%                | No            |                  2 | On Loan: No      |
| BIG Commercial Mortgage Trust               | BIG Commercial Mortgage Trust 2022-BIG                                      | CUSIP: 05551UAF2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    500000 | PA      | $499245.30    | 0.05%             | 2039-02-15      | Floating      | 9.75%                 | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2025-08-25

**Name of Applicant:** Clarion Partners Real Estate Income Fund Inc.

**Signature:** Christopher Berarducci

**Name of Signer:** Christopher Berarducci

**Title:** Principal Financial Officer