# EDGAR Filing Document

**Accession Number:** 0000885709
**File Stem:** 0000940400-25-002822
**Filing Date:** 2025-9
**Character Count:** 161073
**Document Hash:** 084aa3892bd407764caad308e314965c
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000940400-25-002822.hdr.sgml**: 20250926

**ACCESSION NUMBER**: 0000940400-25-002822

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250731

**FILED AS OF DATE**: 20250926

**DATE AS OF CHANGE**: 20250926

**PERIOD START**: 20251031

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** PAYDEN & RYGEL INVESTMENT GROUP
- **CENTRAL INDEX KEY:** 0000885709

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** MA
- **FISCAL YEAR END:** 1031

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-06625
- **FILM NUMBER:** 251348683

**BUSINESS ADDRESS:**
- **STREET 1:** 333 S GRAND AVE
- **STREET 2:** 40TH FL
- **CITY:** LOS ANGELES
- **STATE:** CA
- **ZIP:** 90071
- **BUSINESS PHONE:** 2136251900

**MAIL ADDRESS:**
- **STREET 1:** 333 S GRAND AVE
- **STREET 2:** 40TH FL
- **CITY:** LOS ANGELES
- **STATE:** CA
- **ZIP:** 90071

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** PAYDENFUNDS
- **DATE OF NAME CHANGE:** 20010423

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** PAYDEN & RYGEL INVESTMENT GROUP
- **DATE OF NAME CHANGE:** 19940104

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** P&R INVESTMENT TRUST
- **DATE OF NAME CHANGE:** 19920929

## Series and Classes Contracts Data

### Payden Managed Income Fund (Series ID: S000022678)

| Class ID   | Class Name                                       | Ticker Symbol   |
|:---|:---|:---|
| C000065580 | Payden Managed Income Fund (SI Class)            | PKBIX           |
| C000069457 | Payden Managed Income Fund (Adviser Class)       | PKCBX           |
| C000077412 | Payden Managed Income Fund (Retirement Class)    | PKCRX           |
| C000172680 | Payden Managed Income Fund (Institutional Class) | PKCIX           |

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** PAYDEN & RYGEL INVESTMENT GROUP

- **b. Investment Company Act file number:** 811-06625

- **c. CIK number of Registrant:** 0000885709

- **d. LEI of Registrant:** 549300QJNYRKYZS3P282

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

  - **Street Address 1:** 333 South Grand Avenue

  - **City:** Los Angeles

  - **State:** CA

  - **Foreign country:** US

  - **Zip / Postal Code:** 90071

  - **Telephone number:** 213-625-1900

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

- **a. Name of Series:** Payden Managed Income Fund

- **b. EDGAR series identifier (if any):** S000022678

- **c. LEI of Series:** 549300E8I3EQMB6RVA07

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

- **a. Date of fiscal year-end:** 2025-10-31

- **b. Date as of which information is reported:** 2025-07-31

**Item A.4. Final filing**

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

### Fund Information

**Total Assets:** $124955831.92

**Total Liabilities:** $6979507.71

**Net Assets:** $117976324.21

**Delayed Delivery Securities:** $1947948.36

**Cash Not Reported:** $3558771.46

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** 0.00000000 | **1-Year:** 6.00000000 | **5-Year:** 2208.00000000 | **10-Year:** 7867.00000000 | **30-Year:** 10184.00000000

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

- **3-Month:** 0.00000000 | **1-Year:** 41.00000000 | **5-Year:** 3644.00000000 | **10-Year:** 5954.00000000 | **30-Year:** 2985.00000000

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000065580 | 0.49%                | 1.26%                | 0.00%                |
| Class ID C000172680 | 0.48%                | 1.34%                | 0.00%                |
| Class ID C000069457 | 0.41%                | 1.32%                | 0.00%                |
| Class ID C000077412 | 0.55%                | 1.21%                | 0.00%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-103485.22              | $549937.36                                 |
| Month 2  | $25304.59                | $1551271.26                                |
| Month 3  | $607828.07               | $-1228708.93                               |

**Designated Index Information**

- **Index Name:** N/A

- **Index Identifier:** N/A

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| REWORLD HOLDING CORP                                         | Reworld Holding Corp                                                      | CUSIP: 22303XAA3<br>LEI: 40XIFLS8XDQGGHGPGC04 | Long             | DBT              | CORP              | US        |    500000 | PA      | $477951.20    | 0.41%             | 2029-12-01      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| Life Financial Services Trust                                | Life 2022-BMR Mortgage Trust                                              | CUSIP: 53218DAA6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    375000 | PA      | $365353.43    | 0.31%             | 2039-05-15      | Floating      | 5.64%                 | No            |                  2 | On Loan: No      |
| BLUE OWL CAPITAL CORP                                        | Blue Owl Capital Corp                                                     | CUSIP: 69121KAE4<br>LEI: 2549000BD79OOCPF2L94 | Long             | DBT              | CORP              | US        |     50000 | PA      | $49293.18     | 0.04%             | 2026-07-15      | Fixed         | 3.40%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF ALBANIA                                          | Albania Government International Bond                                     | CUSIP: 000000000<br>LEI: 254900EDM43U3SGRND29 | Long             | DBT              | NUSS              | AL        |    375000 | PA      | $431518.35    | 0.37%             | 2035-02-14      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| EMRLD Borrower LP                                            | EMRLD BORROWER LP                                                         | CUSIP: 26872NAD1<br>LEI: 5493000GJYE7GAQCUC61 | Long             | LON              | CORP              | US        |    447744 | PA      | $448583.88    | 0.38%             | 2031-08-04      | Floating      | 6.86%                 | No            |                  2 | On Loan: No      |
| SONA FIOS CLO                                                | Sona Fios CLO I DAC                                                       | CUSIP: 000000000<br>LEI: 635400DKZUMF3VS6WZ22 | Long             | ABS-CBDO         | CORP              | IE        |    300000 | PA      | $342360.00    | 0.29%             | 2036-07-15      | Floating      | 3.53%                 | No            |                  2 | On Loan: No      |
| Woodward Capital Management                                  | RCKT Mortgage Trust 2025-CES7                                             | CUSIP: 74943AAA0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    525000 | PA      | $526338.91    | 0.45%             | 2055-07-25      | Variable      | 5.38%                 | No            |                  2 | On Loan: No      |
| Fannie Mae - CAS                                             | Connecticut Avenue Securities Trust 2022-R09                              | CUSIP: 20753DAB4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    500000 | PA      | $536087.15    | 0.45%             | 2042-09-25      | Floating      | 9.10%                 | No            |                  2 | On Loan: No      |
| Arini European CLO                                           | Arini European CLO I DAC                                                  | CUSIP: 000000000<br>LEI: 635400HMSNVNUMMBE111 | Long             | ABS-CBDO         | CORP              | IE        |    300000 | PA      | $342360.00    | 0.29%             | 2036-07-15      | Floating      | 5.98%                 | No            |                  2 | On Loan: No      |
| VERITIV OPERATING CO                                         | Veritiv Operating Co                                                      | CUSIP: 92339LAA0<br>LEI: 5493004G8OK5L1UTIY12 | Long             | DBT              | CORP              | US        |    450000 | PA      | $488307.15    | 0.41%             | 2030-11-30      | Fixed         | 10.50%                | No            |                  2 | On Loan: No      |
| CUMULUS STATIC CLO                                           | Cumulus Static CLO 2024-1 DAC                                             | CUSIP: 000000000<br>LEI: 2549005ZFHRHIZ9ONM43 | Long             | ABS-CBDO         | CORP              | IE        |    250000 | PA      | $286406.96    | 0.24%             | 2033-11-15      | Floating      | 4.54%                 | No            |                  2 | On Loan: No      |
| SURGERY CENTER HOLDINGS                                      | Surgery Center Holdings Inc                                               | CUSIP: 86881WAF9<br>LEI: 54930054EVI5HWPPW113 | Long             | DBT              | CORP              | US        |    425000 | PA      | $437519.23    | 0.37%             | 2032-04-15      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| DC Commercial Mortgage Trust                                 | DC Commercial Mortgage Trust 2023-DC                                      | CUSIP: 24023AAA8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    335000 | PA      | $348886.79    | 0.30%             | 2040-09-12      | Fixed         | 6.31%                 | No            |                  2 | On Loan: No      |
| HSBC SECURITIES (USA) INC.                                   | USD/PEN FORWARD                                                           | CUSIP: 000000000<br>LEI: CYYGQCGNHMHPSMRL3R97 | N/A              | DFE              | CORP              | US        |         1 | NC      | $13129.99     | 0.01%             |  |  |  | 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        |    800000 | PA      | $835608.00    | 0.71%             | 2041-10-25      | Floating      | 10.35%                | No            |                  2 | On Loan: No      |
| ACREC LLC                                                    | Acrec 2025 Fl 3 LLC                                                       | CUSIP: 00112HAG2<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |    500000 | PA      | $500040.50    | 0.42%             | 2042-08-18      | Floating      | 6.64%                 | No            |                  2 | On Loan: No      |
| Truist Insurance Holdings, LLC                               | TRUIST INSURANCE HOLDING                                                  | CUSIP: 89788VAE2<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    178947 | PA      | $183152.63    | 0.16%             | 2032-05-06      | Floating      | 9.05%                 | No            |                  2 | On Loan: No      |
| ALTICE FRANCE HOLDING SA                                     | Altice France Holding SA                                                  | CUSIP: 02156TAB0<br>LEI: 5299000JVHXKJPOE6H40 | Long             | DBT              | CORP              | LU        |    325000 | PA      | $119336.75    | 0.10%             | 2027-05-15      | Fixed         | 10.50%                | No            |                  2 | On Loan: No      |
| IHS HOLDING LTD                                              | IHS Holding Ltd                                                           | CUSIP: 44963HAD7<br>LEI: 213800CLGMKL63VKTD94 | Long             | DBT              | CORP              | KY        |    200000 | PA      | $204661.34    | 0.17%             | 2031-11-29      | Fixed         | 8.25%                 | No            |                  2 | On Loan: No      |
| Cross Mortgage Trust                                         | Cross 2024-H8 Mortgage Trust                                              | CUSIP: 22757GAF0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    575000 | PA      | $577666.10    | 0.49%             | 2069-12-25      | Variable      | 6.32%                 | No            |                  2 | On Loan: No      |
| C&W SENIOR FINANCE LTD                                       | C&W Senior Finance Ltd                                                    | CUSIP: 12665MAA0<br>LEI: 213800CG16G1YMJRCG10 | Long             | DBT              | CORP              | KY        |    250000 | PA      | $258033.50    | 0.22%             | 2033-01-15      | Fixed         | 9.00%                 | No            |                  2 | On Loan: No      |
| Terex Corporation                                            | TEREX CORP                                                                | CUSIP: 88078FBM9<br>LEI: YAWJZJYEQ7M1SYMOS462 | Long             | LON              | CORP              | US        |    374062 | PA      | $375231.45    | 0.32%             | 2031-10-08      | Floating      | 6.31%                 | No            |                  2 | On Loan: No      |
| HSBC SECURITIES (USA) INC.                                   | USD/AUD FORWARD                                                           | CUSIP: 000000000<br>LEI: CYYGQCGNHMHPSMRL3R97 | N/A              | DFE              | CORP              | US        |         1 | NC      | $-42659.70    | -0.04%            |  |  |  | No            |                  2 | On Loan: No      |
| Fannie Mae - CAS                                             | Connecticut Avenue Securities Trust 2022-R03                              | CUSIP: 20753XAJ3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    200000 | PA      | $222932.68    | 0.19%             | 2042-03-25      | Floating      | 14.20%                | No            |                  2 | On Loan: No      |
| ORGANON & CO/ORGANON FOR                                     | Organon & Co / Organon Foreign Debt Co-Issuer BV                          | CUSIP: 68622TAB7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    225000 | PA      | $194832.13    | 0.17%             | 2031-04-30      | Fixed         | 5.12%                 | No            |                  2 | On Loan: —       |
| SOCIETE GENERALE                                             | Societe Generale SA                                                       | CUSIP: 000000000<br>LEI: O2RNE8IBXP4R0TD8PU41 | Long             | DBT              | CORP              | FR        |    400000 | PA      | $428356.08    | 0.36%             | 2029-06-12      | Fixed         | 0.50%                 | No            |                  2 | On Loan: No      |
| Lightning Power, LLC                                         | LIGHTNING POWER LLC                                                       | CUSIP: 53229LAB3<br>LEI: 254900BWCHJ03XRL8K59 | Long             | LON              | CORP              | US        |    272938 | PA      | $273449.26    | 0.23%             | 2031-08-18      | Floating      | 6.55%                 | No            |                  2 | On Loan: No      |
| BRAVO Residential Funding Trus                               | BRAVO Residential Funding Trust 2024-NQM7                                 | CUSIP: 105698AF1<br>LEI: 254900T3YTF92WA96N66 | Long             | ABS-MBS          | CORP              | US        |    500000 | PA      | $502645.20    | 0.43%             | 2064-10-27      | Variable      | 6.38%                 | No            |                  2 | On Loan: No      |
| SWCH Commercial Mortgage Trust                               | SWCH Commercial Mortgage Trust 2025-DATA                                  | CUSIP: 78489CAA7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    575000 | PA      | $573026.72    | 0.49%             | 2042-02-15      | Floating      | 5.78%                 | No            |                  2 | On Loan: No      |
| FREEDOM MORTGAGE HOLD                                        | Freedom Mortgage Holdings LLC                                             | CUSIP: 35641AAB4<br>LEI: 254900ROJ91RGM43S156 | Long             | DBT              | CORP              | US        |    130000 | PA      | $135299.45    | 0.11%             | 2031-05-15      | Fixed         | 9.12%                 | No            |                  2 | On Loan: No      |
| ACRE COMMERCIAL MORTGAGE TRUST                               | ACRE Commercial Mortgage 2021-FL4 Ltd                                     | CUSIP: 00489TAG1<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    100000 | PA      | $98884.94     | 0.08%             | 2037-12-18      | Floating      | 6.71%                 | No            |                  2 | On Loan: No      |
| Sound Point EURO CLO Funding D                               | Sound Point Euro CLO X Funding DAC                                        | CUSIP: 000000000<br>LEI: 635400YEKGN7SV65BD82 | Long             | ABS-CBDO         | CORP              | IE        |    350000 | PA      | $402499.53    | 0.34%             | 2038-04-20      | Floating      | 4.67%                 | No            |                  2 | On Loan: No      |
| AUTOSTRADE PER L'ITALIA                                      | Autostrade per l'Italia SpA                                               | CUSIP: 000000000<br>LEI: 815600149448CEB9B230 | Long             | DBT              | CORP              | IT        |    250000 | PA      | $297622.05    | 0.25%             | 2032-06-28      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| Fannie Mae - CAS                                             | Fannie Mae Connecticut Avenue Securities                                  | CUSIP: 30711XCR3<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | CORP              | US        |     49443 | PA      | $52823.07     | 0.04%             | 2028-10-25      | Floating      | 16.21%                | No            |                  2 | On Loan: No      |
| STANDARD BUILDING SOLUTI                                     | Standard Building Solutions Inc                                           | CUSIP: 853191AC8<br>LEI: 54930064UHXCIUWVI755 | Long             | DBT              | CORP              | US        |    200000 | PA      | $202059.26    | 0.17%             | 2033-08-01      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| Freddie Mac - STACR                                          | Freddie Mac STACR REMIC Trust 2022-DNA2                                   | CUSIP: 35564KSJ9<br>LEI: 5493000ISA3AUOXQEF68 | Long             | ABS-MBS          | CORP              | US        |    350000 | PA      | $367612.07    | 0.31%             | 2042-02-25      | Floating      | 9.10%                 | No            |                  2 | On Loan: No      |
| BARCLAYS PLC                                                 | COP/USD FORWARD                                                           | CUSIP: 000000000<br>LEI: 213800LBQA1Y9L22JB70 | N/A              | DFE              | CORP              | US        |         1 | NC      | $33648.57     | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| Buckhorn Park CLO, Ltd.                                      | Buckhorn Park CLO Ltd                                                     | CUSIP: 118382BA7<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    500000 | PA      | $499758.00    | 0.42%             | 2034-07-18      | Floating      | 5.40%                 | No            |                  2 | On Loan: No      |
| HYUNDAI CAPITAL AMERICA                                      | Hyundai Capital America                                                   | CUSIP: 44891ADF1<br>LEI: 549300RIPPWJB5Z0FK07 | Long             | DBT              | CORP              | US        |     25000 | PA      | $24827.18     | 0.02%             | 2027-09-24      | Fixed         | 4.30%                 | No            |                  2 | On Loan: No      |
| MORGAN STANLEY                                               | Morgan Stanley                                                            | CUSIP: 61748UAE2<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |    150000 | PA      | $153699.57    | 0.13%             | 2031-01-15      | Fixed         | 5.23%                 | No            |                  2 | On Loan: No      |
| SANTANDER DRIVE AUTO RECEIVABLES TRUST 2024-S2               | SANTANDER DRIVE AUTO RECEIVABLES TRUST 2024-S2                            | CUSIP: 80287MAD9<br>LEI: N/A                  | Long             | EC               | CORP              | US        |        20 | NS      | $363104.06    | 0.31%             |  |  |  | No            |                  2 | On Loan: No      |
| BROADCOM INC                                                 | Broadcom Inc                                                              | CUSIP: 11135FCL3<br>LEI: 549300WV6GIDOZJTV909 | Long             | DBT              | CORP              | US        |    350000 | PA      | $351179.54    | 0.30%             | 2032-07-15      | Fixed         | 4.90%                 | No            |                  2 | On Loan: No      |
| VIPER ENERGY PARTNERS LL                                     | Viper Energy Partners LLC                                                 | CUSIP: 92764MAA2<br>LEI: 54930010ZZ02MRGRI973 | Long             | DBT              | CORP              | US        |    350000 | PA      | $348741.75    | 0.30%             | 2030-08-01      | Fixed         | 4.90%                 | No            |                  2 | On Loan: No      |
| OPAL BIDCO SAS                                               | Opal Bidco SAS                                                            | CUSIP: 000000000<br>LEI: 969500R96XT7XY2UJ564 | Long             | DBT              | CORP              | FR        |    250000 | PA      | $294172.12    | 0.25%             | 2032-03-31      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| MORGAN STANLEY & CO. LLC                                     | USD/GBP FORWARD                                                           | CUSIP: 000000000<br>LEI: 9R7GPTSO7KV3UQJZQ078 | N/A              | DFE              | CORP              | US        |         1 | NC      | $40146.72     | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| UDR INC                                                      | UDR Inc                                                                   | CUSIP: 90265EAW0<br>LEI: P3CH2EG5X6Z1XWU1OO74 | Long             | DBT              | CORP              | US        |    100000 | PA      | $99492.35     | 0.08%             | 2034-09-01      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| HSBC SECURITIES (USA) INC.                                   | USD/EUR FORWARD                                                           | CUSIP: 000000000<br>LEI: CYYGQCGNHMHPSMRL3R97 | N/A              | DFE              | CORP              | US        |         1 | NC      | $-18999.85    | -0.02%            |  |  |  | No            |                  2 | On Loan: No      |
| VB-S1 Issuer LLC                                             | VB-S1 Issuer LLC - VBTEL                                                  | CUSIP: 91823ABE0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    200000 | PA      | $204108.96    | 0.17%             | 2054-05-15      | Fixed         | 6.64%                 | No            |                  2 | On Loan: No      |
| Freddie Mac - STACR                                          | Freddie Mac STACR REMIC Trust 2023-DNA1                                   | CUSIP: 35564KP37<br>LEI: 5493000IRILHAKSCHN59 | Long             | ABS-MBS          | CORP              | US        |    858433 | PA      | $872515.84    | 0.74%             | 2043-03-25      | Floating      | 6.45%                 | No            |                  2 | On Loan: No      |
| PRIME HEALTHCARE SERVICE                                     | Prime Healthcare Services Inc                                             | CUSIP: 74165HAC2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    425000 | PA      | $422724.13    | 0.36%             | 2029-09-01      | Fixed         | 9.38%                 | No            |                  2 | On Loan: No      |
| ICE FUTURES EUROPE                                           | LONG GILT                                                                 | CUSIP: 000000000<br>LEI: 549300UF4R84F48NCH34 | N/A              | DIR              | CORP              | GB        |        -2 | NC      | $-3359.52     | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| FLUTTER TREASURY DAC                                         | Flutter Treasury DAC                                                      | CUSIP: 000000000<br>LEI: 635400JE8VLL9UFVIC38 | Long             | DBT              | CORP              | IE        |    325000 | PA      | $431841.44    | 0.37%             | 2031-06-04      | Fixed         | 6.12%                 | No            |                  2 | On Loan: No      |
| Onslow Bay Financial LLC                                     | OBX 2024-NQM12 Trust                                                      | CUSIP: 67448PAC7<br>LEI: 254900MY906NOBBPOA44 | Long             | ABS-MBS          | CORP              | US        |    161005 | PA      | $160774.63    | 0.14%             | 2064-07-25      | Variable      | 5.83%                 | No            |                  2 | On Loan: No      |
| MEDCO CYPRESS TREE PTE                                       | Medco Cypress Tree Pte Ltd                                                | CUSIP: 58406VAA7<br>LEI: 254900NKZ2Y3YZK4WC46 | Long             | DBT              | CORP              | SG        |    250000 | PA      | $261133.16    | 0.22%             | 2030-05-19      | Fixed         | 8.62%                 | No            |                  2 | On Loan: No      |
| DUKE ENERGY CAROLINAS                                        | Duke Energy Carolinas LLC                                                 | CUSIP: 26442CBP8<br>LEI: MWIUSDMN17TCR56VW396 | Long             | DBT              | CORP              | US        |    200000 | PA      | $203655.72    | 0.17%             | 2030-03-15      | Fixed         | 4.85%                 | No            |                  2 | On Loan: No      |
| CHICAGO MERCANTILE EXCHANGE INC.                             | 3 MONTH SOFR                                                              | CUSIP: 000000000<br>LEI: SNZ2OJLFK8MNNCLQOF39 | N/A              | DIR              | CORP              | US        |       114 | NC      | $-45270.26    | -0.04%            |  |  |  | No            |                  1 | On Loan: No      |
| CRH AMERICA FINANCE INC                                      | CRH America Finance Inc                                                   | CUSIP: 12636YAE2<br>LEI: 549300WEVUODRJ4CWK56 | Long             | DBT              | CORP              | US        |    200000 | PA      | $203987.18    | 0.17%             | 2034-05-21      | Fixed         | 5.40%                 | No            |                  2 | On Loan: No      |
| GENERAL MOTORS FINL CO                                       | General Motors Financial Co Inc                                           | CUSIP: 37045XEU6<br>LEI: 5493008B6JBRUJ90QL97 | Long             | DBT              | CORP              | US        |    100000 | PA      | $102204.59    | 0.09%             | 2029-07-15      | Fixed         | 5.55%                 | No            |                  2 | On Loan: No      |
| WELLS FARGO & COMPANY                                        | Wells Fargo & Co                                                          | CUSIP: 95000U3W1<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | DBT              | CORP              | US        |    600000 | PA      | $612411.54    | 0.52%             | 2031-04-23      | Fixed         | 5.15%                 | No            |                  2 | On Loan: No      |
| SAAVI ENERGIA SARL                                           | Saavi Energia Sarl                                                        | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | CORP              | LU        |    200000 | PA      | $208410.00    | 0.18%             | 2035-02-10      | Fixed         | 8.88%                 | No            |                  2 | On Loan: No      |
| DUKE ENERGY PROGRESS LLC                                     | Duke Energy Progress LLC                                                  | CUSIP: 26442UAU8<br>LEI: 0NIFZ782LS46WOC9QK20 | Long             | DBT              | CORP              | US        |    200000 | PA      | $200432.15    | 0.17%             | 2035-03-15      | Fixed         | 5.05%                 | No            |                  2 | On Loan: No      |
| Fannie Mae - CAS                                             | Fannie Mae Connecticut Avenue Securities                                  | CUSIP: 30711XCH5<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | CORP              | US        |    123469 | PA      | $131334.45    | 0.11%             | 2028-09-25      | Floating      | 16.71%                | No            |                  2 | On Loan: No      |
| MADISON IAQ LLC                                              | Madison IAQ LLC                                                           | CUSIP: 55760LAB3<br>LEI: 549300IXDNBXNHUPBU73 | Long             | DBT              | CORP              | US        |    250000 | PA      | $243625.53    | 0.21%             | 2029-06-30      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF ECUADOR                                          | Ecuador Government International Bond                                     | CUSIP: 000000000<br>LEI: 5299003Y2U5XK0A35H71 | Long             | DBT              | NUSS              | EC        |    150000 | PA      | $132112.50    | 0.11%             | 2030-07-31      | Variable      | 6.90%                 | No            |                  2 | On Loan: No      |
| Freddie Mac - STACR                                          | Freddie Mac STACR REMIC Trust 2022-DNA2                                   | CUSIP: 35564KSQ3<br>LEI: 5493000ISA3AUOXQEF68 | Long             | ABS-MBS          | CORP              | US        |    200000 | PA      | $218358.40    | 0.19%             | 2042-02-25      | Floating      | 12.85%                | No            |                  2 | On Loan: No      |
| KIER GROUP PLC                                               | Kier Group PLC                                                            | CUSIP: 000000000<br>LEI: 2138002RKCU2OM4Y7O48 | Long             | DBT              | CORP              | GB        |    350000 | PA      | $491943.88    | 0.42%             | 2029-02-15      | Fixed         | 9.00%                 | No            |                  2 | On Loan: No      |
| PHOENIX AVIATION CAPITAL                                     | Phoenix Aviation Capital Ltd                                              | CUSIP: 71910DAA9<br>LEI: 8945008YQAKXZQ3VYJ15 | Long             | DBT              | CORP              | IE        |    275000 | PA      | $288388.79    | 0.24%             | 2030-07-15      | Fixed         | 9.25%                 | No            |                  2 | On Loan: No      |
| Onslow Bay Financial LLC                                     | OBX 2023-NQM4 Trust                                                       | CUSIP: 67448GAD5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    400000 | PA      | $402231.36    | 0.34%             | 2063-03-25      | Variable      | 7.13%                 | No            |                  2 | On Loan: No      |
| PBF HOLDING CO LLC                                           | PBF Holding Co LLC / PBF Finance Corp                                     | CUSIP: 69318FAM0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    165000 | PA      | $163712.52    | 0.14%             | 2030-03-15      | Fixed         | 9.88%                 | No            |                  2 | On Loan: —       |
| ALPHABET INC                                                 | Alphabet Inc                                                              | CUSIP: 02079KAP2<br>LEI: 5493006MHB84DD0ZWV18 | Long             | DBT              | CORP              | US        |    350000 | PA      | $400345.78    | 0.34%             | 2029-05-06      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| HSBC SECURITIES (USA) INC.                                   | USD/JPY FORWARD                                                           | CUSIP: 000000000<br>LEI: CYYGQCGNHMHPSMRL3R97 | N/A              | DFE              | CORP              | US        |         1 | NC      | $-38954.97    | -0.03%            |  |  |  | No            |                  2 | On Loan: No      |
| QXO Building Products Inc (f/k/a Beacon Roofing Supply Inc.) | QXO INC                                                                   | CUSIP: 07368RAJ0<br>LEI: 549300HDXQWWCBOYXP31 | Long             | LON              | CORP              | US        |    110000 | PA      | $111078.00    | 0.09%             | 2032-04-30      | Floating      | 0.00%                 | No            |                  2 | On Loan: No      |
| CAPITAL ONE FINANCIAL CO                                     | Capital One Financial Corp                                                | CUSIP: 14040HDJ1<br>LEI: ZUE8T73ROZOF6FLBAR73 | Long             | DBT              | CORP              | US        |    100000 | PA      | $102709.17    | 0.09%             | 2036-01-30      | Fixed         | 6.18%                 | No            |                  2 | On Loan: No      |
| GALAXY BIDCO LTD                                             | Galaxy Bidco Ltd                                                          | CUSIP: 000000000<br>LEI: 2138006O8YW3QCHKDY76 | Long             | DBT              | CORP              | GB        |    125000 | PA      | $172394.46    | 0.15%             | 2029-12-19      | Fixed         | 8.12%                 | No            |                  2 | On Loan: No      |
| BRAVO Residential Funding Trus                               | BRAVO Residential Funding Trust 2025-NQM7                                 | CUSIP: 10570TAP0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    575000 | PA      | $574137.50    | 0.49%             | 2065-07-25      | Variable      | 5.46%                 | No            |                  2 | On Loan: No      |
| Fannie Mae - CAS                                             | Connecticut Avenue Securities Trust 2025-R02                              | CUSIP: 20754TAD4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    450000 | PA      | $452587.95    | 0.38%             | 2045-02-25      | Floating      | 5.95%                 | No            |                  2 | On Loan: No      |
| ARES CLO Ltd                                                 | ARES Loan Funding III Ltd                                                 | CUSIP: 04009BAN8<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   1000000 | PA      | $1002744.00   | 0.85%             | 2036-07-25      | Floating      | 5.59%                 | No            |                  2 | On Loan: No      |
| HSBC SECURITIES (USA) INC.                                   | USD/EUR FORWARD                                                           | CUSIP: 000000000<br>LEI: CYYGQCGNHMHPSMRL3R97 | N/A              | DFE              | CORP              | US        |         1 | NC      | $-15031.22    | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| FIESTA PURCHASER INC                                         | Fiesta Purchaser Inc                                                      | CUSIP: 31659AAB2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    220000 | PA      | $233039.18    | 0.20%             | 2032-09-15      | Fixed         | 9.62%                 | No            |                  2 | On Loan: No      |
| MINERVA LUXEMBOURG SA                                        | Minerva Luxembourg SA                                                     | CUSIP: 603374AH2<br>LEI: 222100NM3G3RCPGZ2Z17 | Long             | DBT              | CORP              | LU        |    200000 | PA      | $217877.40    | 0.18%             | 2033-09-13      | Fixed         | 8.88%                 | No            |                  2 | On Loan: No      |
| BROADCOM INC                                                 | Broadcom Inc                                                              | CUSIP: 11135FBX8<br>LEI: 549300WV6GIDOZJTV909 | Long             | DBT              | CORP              | US        |    100000 | PA      | $102087.33    | 0.09%             | 2029-07-12      | Fixed         | 5.05%                 | No            |                  2 | On Loan: No      |
| CPPIB OVM MEMBER US LLC                                      | CPPIB OVM MEMBER US LLC                                                   | CUSIP: 12673CAB0<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    148875 | PA      | $149557.85    | 0.13%             | 2031-08-20      | Floating      | 7.07%                 | No            |                  2 | On Loan: No      |
| DELTA AIR LINES/SKYMILES                                     | Delta Air Lines Inc / SkyMiles IP Ltd                                     | CUSIP: 830867AB3<br>LEI: N/A                  | Long             | DBT              | CORP              | N/A       |    225000 | PA      | $225209.17    | 0.19%             | 2028-10-20      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| Diamond Infrastructure Funding                               | Diamond Infrastructure Funding LLC                                        | CUSIP: 25265LAC4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    150000 | PA      | $141935.97    | 0.12%             | 2049-04-15      | Fixed         | 2.35%                 | No            |                  2 | On Loan: No      |
| MIC Glen LLC                                                 | MIC GLEN LLC                                                              | CUSIP: 55304PAG6<br>LEI: 549300XD843A2SP50882 | Long             | LON              | CORP              | US        |    381209 | PA      | $382728.50    | 0.32%             | 2028-07-21      | Floating      | 7.61%                 | No            |                  2 | On Loan: No      |
| JAB HOLDINGS BV                                              | JAB Holdings BV                                                           | CUSIP: 000000000<br>LEI: 529900RRNKUM3INJGF98 | Long             | DBT              | CORP              | NL        |    300000 | PA      | $367379.13    | 0.31%             | 2033-06-12      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MORGAN STANLEY PVT BANK                                      | Morgan Stanley Private Bank NA                                            | CUSIP: 61776NVG5<br>LEI: 549300GS0W0TEUQS8571 | Long             | DBT              | CORP              | US        |    250000 | PA      | $251184.18    | 0.21%             | 2031-07-18      | Fixed         | 4.73%                 | No            |                  2 | On Loan: No      |
| CNTL AMR BOTTLING CORP                                       | Central American Bottling Corp / CBC Bottling Holdco SL / Beliv Holdco SL | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | CORP              | VG        |    470000 | PA      | $457193.68    | 0.39%             | 2029-04-27      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| BCPE FLAVOR DEBT/ISSUER                                      | BCPE Flavor Debt Merger Sub LLC and BCPE Flavor Issuer Inc                | CUSIP: 072933AA2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    225000 | PA      | $232096.73    | 0.20%             | 2032-07-01      | Fixed         | 9.50%                 | No            |                  2 | On Loan: No      |
| HSBC SECURITIES (USA) INC.                                   | NOK/USD FORWARD                                                           | CUSIP: 000000000<br>LEI: CYYGQCGNHMHPSMRL3R97 | N/A              | DFE              | CORP              | US        |         1 | NC      | $-27592.17    | -0.02%            |  |  |  | No            |                  2 | On Loan: No      |
| OCP Euro CLO                                                 | OCP Euro CLO 2020-4 DAC                                                   | CUSIP: 000000000<br>LEI: 635400NSID6FARUW3W95 | Long             | ABS-CBDO         | CORP              | IE        |    300000 | PA      | $342873.54    | 0.29%             | 2034-09-22      | Floating      | 4.20%                 | No            |                  2 | On Loan: No      |
| KKR Static CLO Ltd, KKR Static                               | KKR Static CLO I LTD                                                      | CUSIP: 48255QAU7<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    249458 | PA      | $249029.21    | 0.21%             | 2031-07-20      | Floating      | 5.31%                 | No            |                  2 | On Loan: No      |
| BLUE OWL CAPITAL CORP                                        | Blue Owl Capital Corp                                                     | CUSIP: 69121KAH7<br>LEI: 2549000BD79OOCPF2L94 | Long             | DBT              | CORP              | US        |    100000 | PA      | $100258.58    | 0.08%             | 2029-03-15      | Fixed         | 5.95%                 | No            |                  2 | On Loan: No      |
| Onslow Bay Financial LLC                                     | OBX 2025-NQM6 Trust                                                       | CUSIP: 67448UAC6<br>LEI: 254900W46UQEWQMYYZ02 | Long             | ABS-MBS          | CORP              | US        |    421867 | PA      | $422544.65    | 0.36%             | 2065-03-25      | Variable      | 5.96%                 | No            |                  2 | On Loan: No      |
| Chase Auto Credit Linked Notes                               | JPMorgan Chase Bank NA - CACLN                                            | CUSIP: 46591HCH1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    115188 | PA      | $115048.67    | 0.10%             | 2029-02-26      | Fixed         | 3.69%                 | No            |                  2 | On Loan: No      |
| Henley Funding Ltd.                                          | Henley CLO VII DAC                                                        | CUSIP: 000000000<br>LEI: 635400SRJSVJPTMR4D89 | Long             | ABS-CBDO         | CORP              | IE        |    250000 | PA      | $286386.99    | 0.24%             | 2034-04-25      | Floating      | 4.04%                 | No            |                  2 | On Loan: No      |
| Fannie Mae - CAS                                             | Connecticut Avenue Securities Trust 2022-R01                              | CUSIP: 20754LAJ8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    325000 | PA      | $341276.52    | 0.29%             | 2041-12-25      | Floating      | 10.35%                | No            |                  2 | On Loan: No      |
| ARES Commercial Mortgage Trust                               | ARES1 2024-IND2                                                           | CUSIP: 04021EAA4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    320000 | PA      | $321118.34    | 0.27%             | 2034-10-15      | Floating      | 5.78%                 | No            |                  2 | On Loan: No      |
| ROYAL BANK OF CANADA                                         | Royal Bank of Canada                                                      | CUSIP: 78017DAC2<br>LEI: ES7IP3U3RHIGC71XBU11 | Long             | DBT              | CORP              | CA        |     50000 | PA      | $51012.74     | 0.04%             | 2031-02-04      | Fixed         | 5.15%                 | No            |                  2 | On Loan: No      |
| LIMAK CIMENTO SANAYI                                         | Limak Cimento Sanayi ve Ticaret AS                                        | CUSIP: 53263AAA6<br>LEI: 789000EEUQIGHI88WH47 | Long             | DBT              | CORP              | TR        |    400000 | PA      | $407542.16    | 0.35%             | 2029-07-25      | Fixed         | 9.75%                 | No            |                  2 | On Loan: No      |
| BX Trust                                                     | BX Trust 2025-VLT7                                                        | CUSIP: 123913AG0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    400000 | PA      | $402755.36    | 0.34%             | 2044-07-15      | Floating      | 7.55%                 | No            |                  2 | On Loan: No      |
| GLOBAL MARINE INC                                            | Global Marine Inc                                                         | CUSIP: 379352AL1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    250000 | PA      | $232233.50    | 0.20%             | 2028-06-01      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| Neuberger Berman CLO Ltd                                     | Neuberger Berman Loan Advisers CLO 45 Ltd                                 | CUSIP: 64134MAJ5<br>LEI: 549300BQ0WQMX5H5TS32 | Long             | ABS-CBDO         | CORP              | KY        |   1000000 | PA      | $998725.00    | 0.85%             | 2036-10-14      | Floating      | 5.38%                 | No            |                  2 | On Loan: No      |
| JUNIPER RECEIVABLES 2023-1 DAC                               | JUNIPER RECEIVABLES 2023-1 DAC                                            | CUSIP: 481941102<br>LEI: 635400VPHEPHO9HXX694 | Long             | EC               | CORP              | IE        |        10 | NS      | $242613.08    | 0.21%             |  |  |  | No            |                  2 | On Loan: No      |
| BOEING CO/THE                                                | Boeing Co/The                                                             | CUSIP: 097023DQ5<br>LEI: RVHJWBXLJ1RFUBSY1F30 | Long             | DBT              | CORP              | US        |     25000 | PA      | $26404.59     | 0.02%             | 2029-05-01      | Fixed         | 6.30%                 | No            |                  2 | On Loan: No      |
| Freddie Mac - STACR                                          | Freddie Mac STACR Debt Notes 2015-HQA2                                    | CUSIP: 3137G0HM4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    297798 | PA      | $304853.00    | 0.26%             | 2028-05-25      | Floating      | 14.96%                | No            |                  2 | On Loan: No      |
| BOARD OF TRADE OF THE CITY OF CHICAGO, INC.                  | US 2YR NOTE (CBT)                                                         | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DIR              | CORP              | US        |       -87 | NC      | $11475.80     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| COLT FUNDING LLC                                             | COLT 2025-8 MORTGAGE LOAN TRUST                                           | CUSIP: 19689DAA7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    250000 | PA      | $249850.00    | 0.21%             | 2070-08-25      | Variable      | 5.48%                 | No            |                  2 | On Loan: No      |
| VIKING BAKED GOODS ACQUI                                     | Viking Baked Goods Acquisition Corp                                       | CUSIP: 92676AAA5<br>LEI: 254900DBFD2H1FJK0893 | Long             | DBT              | CORP              | US        |    285000 | PA      | $280160.21    | 0.24%             | 2031-11-01      | Fixed         | 8.62%                 | No            |                  2 | On Loan: No      |
| CENTENE CORP                                                 | Centene Corp                                                              | CUSIP: 15135BAW1<br>LEI: 549300Z7JJ4TQSQGT333 | Long             | DBT              | CORP              | US        |    125000 | PA      | $108951.98    | 0.09%             | 2030-10-15      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| BOPARAN FINANCE PLC                                          | Boparan Finance PLC                                                       | CUSIP: 000000000<br>LEI: 213800GQSQIOBR3DHN70 | Long             | DBT              | CORP              | GB        |    150000 | PA      | $207910.13    | 0.18%             | 2029-11-07      | Fixed         | 9.38%                 | No            |                  2 | On Loan: No      |
| EUREX CLEARING AKTIENGESELLSCHAFT                            | EURO-SCHATZ                                                               | CUSIP: 000000000<br>LEI: 529900LN3S50JPU47S06 | N/A              | DIR              | CORP              | DE        |       -15 | NC      | $5700.64      | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| TALOS PRODUCTION INC                                         | Talos Production Inc                                                      | CUSIP: 87485LAD6<br>LEI: 549300GZ2DZZE2Y8TX15 | Long             | DBT              | CORP              | US        |    375000 | PA      | $384688.88    | 0.33%             | 2029-02-01      | Fixed         | 9.00%                 | No            |                  2 | On Loan: No      |
| FS Rialto Issuer Ltd                                         | FS Rialto 2025-FL10 Issuer LLC                                            | CUSIP: 30340KAA9<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |    600000 | PA      | $600898.98    | 0.51%             | 2042-08-19      | Floating      | 5.74%                 | No            |                  2 | On Loan: No      |
| Payden Emerging Markets Local Bond Fund                      | Payden Emerging Markets Local Bond Fund                                   | CUSIP: 70432T867<br>LEI: 549300ZRY78UEWJB7K76 | Long             | EC               | RF                | US        |    366307 | NS      | $3457942.69   | 2.93%             |  |  |  | No            |                  1 | On Loan: No      |
| Fannie Mae - CAS                                             | Connecticut Avenue Securities Trust 2019-R06                              | CUSIP: 20754JAC8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    262289 | PA      | $268662.12    | 0.23%             | 2039-09-25      | Floating      | 8.21%                 | No            |                  2 | On Loan: No      |
| EUREX CLEARING AKTIENGESELLSCHAFT                            | EURO-BOBL                                                                 | CUSIP: 000000000<br>LEI: 529900LN3S50JPU47S06 | N/A              | DIR              | CORP              | DE        |       -29 | NC      | $25611.47     | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| CIBANCO SA INS DE BANCA                                      | CIBANCO SA Institucion de Banca Multiple Trust CIB/3332                   | CUSIP: 000000000<br>LEI: 549300PN33H8IMG2PD83 | Long             | DBT              | CORP              | MX        |    200000 | PA      | $164075.50    | 0.14%             | 2031-07-22      | Fixed         | 4.38%                 | No            |                  2 | On Loan: —       |
| LD CELULOSE INTERNATIONA                                     | LD Celulose International GmbH                                            | CUSIP: 50206BAA0<br>LEI: 529900EHUSQJVOTP9J45 | Long             | DBT              | CORP              | AT        |    200000 | PA      | $209225.00    | 0.18%             | 2032-01-26      | Fixed         | 7.95%                 | No            |                  2 | On Loan: No      |
| LIBERTY COSTA RICA SR SF                                     | Liberty Costa Rica Senior Secured Finance                                 | CUSIP: 000000000<br>LEI: 549300W6O2PHTPCYQ751 | Long             | DBT              | CORP              | KY        |    250000 | PA      | $266453.75    | 0.23%             | 2031-01-15      | Fixed         | 10.88%                | No            |                  2 | On Loan: No      |
| SANTANDER HOLDINGS USA                                       | Santander Holdings USA Inc                                                | CUSIP: 80282KBM7<br>LEI: 549300SMVCQN2P0O6I58 | Long             | DBT              | CORP              | US        |    150000 | PA      | $152718.58    | 0.13%             | 2030-09-06      | Fixed         | 5.35%                 | No            |                  2 | On Loan: No      |
| Ally Bank Auto Credit-Linked N                               | Ally Bank Auto Credit-Linked Notes Series 2024-B                          | CUSIP: 02007G4E0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    465173 | PA      | $465234.62    | 0.39%             | 2032-09-15      | Fixed         | 5.41%                 | No            |                  2 | On Loan: No      |
| KEHE DIST/FIN / NEXTWAVE                                     | KeHE Distributors LLC / KeHE Finance Corp / NextWave Distribution Inc     | CUSIP: 487526AC9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    450000 | PA      | $470187.00    | 0.40%             | 2029-02-15      | Fixed         | 9.00%                 | No            |                  2 | On Loan: No      |
| NOTA DO TESOURO NACIONAL                                     | Brazil Notas do Tesouro Nacional Serie F                                  | CUSIP: 000000000<br>LEI: 254900ZFY40OYEADAP90 | Long             | DBT              | NUSS              | BR        |   7000000 | PA      | $1080801.48   | 0.92%             | 2031-01-01      | Fixed         | 10.00%                | No            |                  2 | On Loan: No      |
| REPUBLIC OF ZAMBIA                                           | Zambia Government International Bond                                      | CUSIP: 000000000<br>LEI: 213800DMLAZ6LGMMD849 | Long             | DBT              | NUSS              | ZM        |    318177 | PA      | $297391.83    | 0.25%             | 2033-06-30      | Variable      | 5.75%                 | No            |                  2 | On Loan: No      |
| CITIGROUP INC                                                | Citigroup Inc                                                             | CUSIP: 17327CAQ6<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |    125000 | PA      | $111998.89    | 0.09%             | 2033-01-25      | Fixed         | 3.06%                 | No            |                  2 | On Loan: No      |
| WINDFALL MINING GROUP                                        | Windfall Mining Group Inc / Groupe Minier Windfall Inc                    | CUSIP: 973244AA4<br>LEI: 984500E4L49391BFF948 | Long             | DBT              | CORP              | CA        |    225000 | PA      | $230395.32    | 0.20%             | 2032-05-13      | Fixed         | 5.85%                 | No            |                  2 | On Loan: No      |
| Woodward Capital Management                                  | RCKT Mortgage Trust 2025-CES6                                             | CUSIP: 748949AA2<br>LEI: 2549002LEW4WNQBOMB89 | Long             | ABS-MBS          | CORP              | US        |    197755 | PA      | $198429.51    | 0.17%             | 2055-06-25      | Variable      | 5.47%                 | No            |                  2 | On Loan: No      |
| BOARD OF TRADE OF THE CITY OF CHICAGO, INC.                  | US 10YR ULTRA                                                             | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DIR              | CORP              | US        |       -18 | NC      | $-15217.83    | -0.01%            |  |  |  | No            |                  1 | On Loan: No      |
| TESCO CORP TREASURY SERV                                     | Tesco Corporate Treasury Services PLC                                     | CUSIP: 000000000<br>LEI: 21380018AJDKNF3A6712 | Long             | DBT              | CORP              | GB        |    300000 | PA      | $343219.95    | 0.29%             | 2032-05-06      | Fixed         | 3.38%                 | No            |                  2 | On Loan: No      |
| COLT Funding LLC                                             | COLT 2025-8 Mortgage Loan Trust                                           | CUSIP: 19689DAC3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    375000 | PA      | $374775.00    | 0.32%             | 2070-08-25      | Variable      | 5.89%                 | No            |                  2 | On Loan: No      |
| BONOS DE TESORERIA                                           | Peru Government Bond                                                      | CUSIP: 000000000<br>LEI: 254900STKLK2DBJJZ530 | Long             | DBT              | NUSS              | PE        |   4000000 | PA      | $1144712.45   | 0.97%             | 2035-08-12      | Fixed         | 6.85%                 | No            |                  2 | On Loan: No      |
| Dryden Senior Loan Fund                                      | Dryden 113 CLO Ltd                                                        | CUSIP: 26253EBD9<br>LEI: 254900XN9Y85HJGYJ219 | Long             | ABS-CBDO         | CORP              | JE        |    400000 | PA      | $400625.20    | 0.34%             | 2037-10-15      | Floating      | 6.22%                 | No            |                  2 | On Loan: No      |
| AMERICOLD REALTY OPER PA                                     | Americold Realty Operating Partnership LP                                 | CUSIP: 03063UAB7<br>LEI: 549300FKD9KVWNHSUU79 | Long             | DBT              | CORP              | US        |    175000 | PA      | $175275.09    | 0.15%             | 2032-05-15      | Fixed         | 5.60%                 | No            |                  2 | On Loan: No      |
| Modena Buyer LLC                                             | MODENA BUYER LLC                                                          | CUSIP: 60753DAC8<br>LEI: 254900B0G2IU0VBDOY26 | Long             | LON              | CORP              | US        |    373125 | PA      | $366660.61    | 0.31%             | 2031-07-01      | Floating      | 8.81%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF SRI LANKA                                        | Sri Lanka Government International Bond                                   | CUSIP: 000000000<br>LEI: 254900IG6Y30I2QE2R92 | Long             | DBT              | NUSS              | LK        |    225000 | PA      | $189442.67    | 0.16%             | 2038-02-15      | Variable      | 3.60%                 | No            |                  2 | On Loan: No      |
| MIDAS OPCO HOLDINGS LLC                                      | Stagwell Global LLC                                                       | CUSIP: 59565JAA9<br>LEI: 984500904E015Z0C1F82 | Long             | DBT              | CORP              | US        |    425000 | PA      | $409407.81    | 0.35%             | 2029-08-15      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| McGraw-Hill Education Inc                                    | MCGRAW-HILL EDUCATION INC                                                 | CUSIP: 58063DAF0<br>LEI: 254900U6YJ9QZ4IQOR26 | Long             | LON              | CORP              | US        |    707694 | PA      | $710181.44    | 0.60%             | 2031-08-06      | Floating      | 7.61%                 | No            |                  2 | On Loan: No      |
| LAZARD GROUP LLC                                             | Lazard Group LLC                                                          | CUSIP: 52107QAL9<br>LEI: FI94J2CJ1D7BIGVMS874 | Long             | DBT              | CORP              | US        |    100000 | PA      | $104808.00    | 0.09%             | 2031-03-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| INTERCONTINENTAL EXCHANGE, INC.                              | CDS CDX.NA.HY.44.V1                                                       | CUSIP: 000000000<br>LEI: 5493000F4ZO33MV32P92 | N/A              | DCR              | CORP              | US        |         1 | NC      | $-327835.06   | -0.28%            |  |  |  | No            |                  2 | On Loan: No      |
| Evergreen AcqCo 1 LP                                         | EVERGREEN ACQCO 1 LP                                                      | CUSIP: 30015FAG1<br>LEI: 549300F6POVHG3ME8T95 | Long             | LON              | CORP              | US        |    392541 | PA      | $393932.49    | 0.33%             | 2028-04-26      | Floating      | 8.05%                 | No            |                  2 | On Loan: No      |
| EDGE FINCO PLC                                               | Edge Finco PLC                                                            | CUSIP: 000000000<br>LEI: 648835NI8LJE5190NT73 | Long             | DBT              | CORP              | GB        |    150000 | PA      | $210624.12    | 0.18%             | 2031-08-15      | Fixed         | 8.12%                 | No            |                  2 | On Loan: No      |
| Fannie Mae - CAS                                             | Connecticut Avenue Securities Trust 2022-R03                              | CUSIP: 20753XAB0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    500000 | PA      | $518349.00    | 0.44%             | 2042-03-25      | Floating      | 7.85%                 | No            |                  2 | On Loan: No      |
| SCOTIABANK PERU SA                                           | Scotiabank Peru SAA                                                       | CUSIP: 80928HAB9<br>LEI: 5493001E54CPRG5J5Q41 | Long             | DBT              | CORP              | PE        |    325000 | PA      | $331792.50    | 0.28%             | 2035-10-01      | Fixed         | 6.10%                 | No            |                  2 | On Loan: No      |
| OCP Euro CLO                                                 | Ocp Euro Clo 2023-7 DAC                                                   | CUSIP: 000000000<br>LEI: 635400SWYKSK8LNFAE07 | Long             | ABS-CBDO         | CORP              | IE        |    500000 | PA      | $571061.04    | 0.48%             | 2036-04-25      | Floating      | 4.26%                 | No            |                  2 | On Loan: No      |
| FRONTIER COMMUNICATIONS                                      | Frontier Communications Holdings LLC                                      | CUSIP: 35906ABF4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    200000 | PA      | $199920.34    | 0.17%             | 2028-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| AUTOZONE INC                                                 | AutoZone Inc                                                              | CUSIP: 053332BK7<br>LEI: GA3JGKJ41LJKXDN23E90 | Long             | DBT              | CORP              | US        |    100000 | PA      | $102201.63    | 0.09%             | 2034-07-15      | Fixed         | 5.40%                 | No            |                  2 | On Loan: No      |
| GENERAL MOTORS FINL CO                                       | General Motors Financial Co Inc                                           | CUSIP: 37045XEZ5<br>LEI: 5493008B6JBRUJ90QL97 | Long             | DBT              | CORP              | US        |    225000 | PA      | $224721.19    | 0.19%             | 2029-10-06      | Fixed         | 4.90%                 | No            |                  2 | On Loan: No      |
| Woodward Capital Management                                  | RCKT Mortgage Trust 2025-CES2                                             | CUSIP: 74942BAA9<br>LEI: 2549001985H26N17CK52 | Long             | ABS-MBS          | CORP              | US        |    348700 | PA      | $349364.45    | 0.30%             | 2055-02-25      | Variable      | 5.50%                 | No            |                  2 | On Loan: No      |
| Fannie Mae - CAS                                             | Connecticut Avenue Securities Trust 2021-R02                              | CUSIP: 20754KAJ0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    675000 | PA      | $706751.87    | 0.60%             | 2041-11-25      | Floating      | 10.55%                | No            |                  2 | On Loan: No      |
| IRON MOUNTAIN INC                                            | IRON MOUNTAIN INC                                                         | CUSIP: 46284NAV1<br>LEI: SQL3F6CKNNBM3SQGHX24 | Long             | LON              | CORP              | US        |    197841 | PA      | $198129.94    | 0.17%             | 2031-01-31      | Floating      | 6.43%                 | No            |                  2 | On Loan: No      |
| Arini European CLO                                           | Arini European CLO I DAC                                                  | CUSIP: 000000000<br>LEI: 635400HMSNVNUMMBE111 | Long             | ABS-CBDO         | CORP              | IE        |    600000 | PA      | $684720.00    | 0.58%             | 2036-07-15      | Floating      | 4.68%                 | No            |                  2 | On Loan: No      |
| KINGDOM OF MOROCCO                                           | Morocco Government International Bond                                     | CUSIP: 000000000<br>LEI: 529900F3MBW9XY5K1X07 | Long             | DBT              | NUSS              | MA        |    400000 | PA      | $460582.33    | 0.39%             | 2035-04-02      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| SBA TOWER TRUST                                              | SBA Tower Trust                                                           | CUSIP: 78403DAZ3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    450000 | PA      | $461517.48    | 0.39%             | 2028-01-15      | Fixed         | 6.60%                 | No            |                  2 | On Loan: No      |
| BUBBLES BIDCO SPA                                            | Bubbles Bidco SPA                                                         | CUSIP: 000000000<br>LEI: 815600073942740CEB24 | Long             | DBT              | CORP              | IT        |    250000 | PA      | $294570.44    | 0.25%             | 2031-09-30      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| HIH Trust                                                    | HIH Trust 2024-61P                                                        | CUSIP: 40444VAG6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    246313 | PA      | $247240.33    | 0.21%             | 2041-10-15      | Floating      | 7.98%                 | No            |                  2 | On Loan: No      |
| Carlyle Global Market Strategi                               | Carlyle Global Market Strategies CLO 2016-1 Ltd                           | CUSIP: 14312HBE5<br>LEI: 549300N3CJKPCWZ7KX23 | Long             | ABS-CBDO         | CORP              | KY        |   1000000 | PA      | $1001568.00   | 0.85%             | 2034-04-20      | Floating      | 5.42%                 | No            |                  2 | On Loan: No      |
| QUIKRETE HOLDINGS INC                                        | Quikrete Holdings Inc                                                     | CUSIP: 74843PAB6<br>LEI: 5493007KIN86DIZWZT22 | Long             | DBT              | CORP              | US        |    175000 | PA      | $179596.25    | 0.15%             | 2033-03-01      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| UZBEKISTAN INTL BOND                                         | Republic of Uzbekistan International Bond                                 | CUSIP: 000000000<br>LEI: 213800L6VDKUM3TCM927 | Long             | DBT              | NUSS              | UZ        |    250000 | PA      | $259017.11    | 0.22%             | 2032-02-28      | Fixed         | 6.90%                 | No            |                  2 | On Loan: No      |
| HSBC SECURITIES (USA) INC.                                   | USD/CHF FORWARD                                                           | CUSIP: 000000000<br>LEI: CYYGQCGNHMHPSMRL3R97 | N/A              | DFE              | CORP              | US        |         1 | NC      | $-16703.57    | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| NOVO BANCO SA                                                | Novo Banco SA                                                             | CUSIP: 000000000<br>LEI: 5493009W2E2YDCXY6S81 | Long             | DBT              | CORP              | PT        |    200000 | PA      | $271024.44    | 0.23%             | 2033-12-01      | Fixed         | 9.88%                 | No            |                  2 | On Loan: No      |
| BX Trust                                                     | BX Commercial Mortgage Trust 2021-VOLT                                    | CUSIP: 05609VAN5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    387531 | PA      | $386923.41    | 0.33%             | 2036-09-15      | Floating      | 6.46%                 | No            |                  2 | On Loan: No      |
| AMERICAN HOMES 4 RENT                                        | American Homes 4 Rent LP                                                  | CUSIP: 02666TAG2<br>LEI: 549300N4PXZ37U8QKI55 | Long             | DBT              | CORP              | US        |    100000 | PA      | $101713.43    | 0.09%             | 2034-02-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| AMRIZE FINANCE US LLC                                        | Amrize Finance US LLC                                                     | CUSIP: 43475RAD8<br>LEI: 529900FB2F1WKLFNGY62 | Long             | DBT              | CORP              | US        |    125000 | PA      | $126190.13    | 0.11%             | 2035-04-07      | Fixed         | 5.40%                 | No            |                  2 | On Loan: No      |
| Freddie Mac - STACR                                          | Freddie Mac STACR REMIC Trust 2022-DNA2                                   | CUSIP: 35564KRN1<br>LEI: 5493000ISA3AUOXQEF68 | Long             | ABS-MBS          | CORP              | US        |    500000 | PA      | $519540.10    | 0.44%             | 2042-02-25      | Floating      | 8.10%                 | No            |                  2 | On Loan: No      |
| Fortress CBO Investments Ltd                                 | FORT CRE 2022-FL3 Issuer LLC                                              | CUSIP: 34706CAC3<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |    206197 | PA      | $205297.97    | 0.17%             | 2039-02-23      | Floating      | 6.60%                 | No            |                  2 | On Loan: No      |
| PETROLEOS MEXICANOS                                          | Petroleos Mexicanos                                                       | CUSIP: 000000000<br>LEI: 549300CAZKPF4HKMPX17 | Long             | DBT              | CORP              | MX        |    100000 | PA      | $110878.99    | 0.09%             | 2027-04-21      | Fixed         | 2.75%                 | No            |                  2 | On Loan: No      |
| Freddie Mac - STACR                                          | Freddie Mac STACR REMIC Trust 2024-DNA1                                   | CUSIP: 35564NBA0<br>LEI: 529900N6M839KA246662 | Long             | ABS-MBS          | CORP              | US        |    625000 | PA      | $634357.38    | 0.54%             | 2044-02-25      | Floating      | 6.30%                 | No            |                  2 | On Loan: No      |
| Diamond Infrastructure Funding                               | Diamond Infrastructure Funding LLC                                        | CUSIP: 25265LAE0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    500000 | PA      | $472899.25    | 0.40%             | 2049-04-15      | Fixed         | 3.48%                 | No            |                  2 | On Loan: No      |
| Freddie Mac - STACR                                          | Freddie Mac STACR REMIC Trust 2021-HQA4                                   | CUSIP: 35564KPN3<br>LEI: 5493000ISE4NWBTOSK36 | Long             | ABS-MBS          | CORP              | US        |    300000 | PA      | $309136.02    | 0.26%             | 2041-12-25      | Floating      | 8.10%                 | No            |                  2 | On Loan: No      |
| NNN REIT INC                                                 | NNN REIT Inc                                                              | CUSIP: 637417AT3<br>LEI: 5493008JKH5SOTI0JS97 | Long             | DBT              | CORP              | US        |    125000 | PA      | $127514.69    | 0.11%             | 2034-06-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| MUTHOOT FINANCE LTD                                          | Muthoot Finance Ltd                                                       | CUSIP: 62828M2C4<br>LEI: 335800HAMJMBFL4RRF02 | Long             | DBT              | CORP              | IN        |    200000 | PA      | $204713.65    | 0.17%             | 2028-02-14      | Fixed         | 7.12%                 | No            |                  2 | On Loan: No      |
| Freddie Mac - STACR                                          | Freddie Mac STACR Debt Notes 2015-DNA3                                    | CUSIP: 3137G0GZ6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    293836 | PA      | $298570.00    | 0.25%             | 2028-04-25      | Floating      | 13.81%                | No            |                  2 | On Loan: No      |
| BNP PARIBAS SECURITIES CORP.                                 | JPY/USD FORWARD                                                           | CUSIP: 000000000<br>LEI: RCNB6OTYUAMMP879YW96 | N/A              | DFE              | CORP              | US        |         1 | NC      | $32246.65     | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| Fannie Mae - CAS                                             | Connecticut Avenue Securities Trust 2022-R04                              | CUSIP: 20753YAL6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    200000 | PA      | $222495.64    | 0.19%             | 2042-03-25      | Floating      | 13.85%                | No            |                  2 | On Loan: No      |
| Beechwood Park CLO Ltd.                                      | Beechwood Park CLO Ltd                                                    | CUSIP: 07355TAU6<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   1000000 | PA      | $1002626.00   | 0.85%             | 2035-01-17      | Floating      | 5.62%                 | No            |                  2 | On Loan: No      |
| BOARD OF TRADE OF THE CITY OF CHICAGO, INC.                  | U.S. TREASURY BOND                                                        | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DIR              | CORP              | US        |        -8 | NC      | $-12555.42    | -0.01%            |  |  |  | No            |                  1 | On Loan: No      |
| HUNGARY                                                      | Hungary Government International Bond                                     | CUSIP: 000000000<br>LEI: 5299003F3UFKGCCMAP43 | Long             | DBT              | NUSS              | HU        |    400000 | PA      | $463679.88    | 0.39%             | 2034-06-16      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| American Airlines Inc                                        | AADVANTAGELOYALTYIPLTD                                                    | CUSIP: 02376CBT1<br>LEI: N/A                  | Long             | LON              | CORP              | KY        |    279500 | PA      | $281770.94    | 0.24%             | 2032-05-28      | Floating      | 7.58%                 | No            |                  2 | On Loan: No      |
| Alpha Generation LLC                                         | ALPHA GENERATION LLC                                                      | CUSIP: 02072UAC6<br>LEI: 254900K5V62L4YGVKF49 | Long             | LON              | CORP              | US        |    322562 | PA      | $322541.53    | 0.27%             | 2031-09-30      | Floating      | 6.36%                 | No            |                  2 | On Loan: No      |
| EXETER AUTOMOBILE RECEIVABLES TRUST 2021-2                   | EXETER AUTOMOBILE RECEIVABLES TRUST 2021-2                                | CUSIP: 30166RAJ6<br>LEI: N/A                  | Long             | EC               | CORP              | US        |        10 | NS      | $490490.00    | 0.42%             |  |  |  | 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        |        69 | NC      | $-22736.04    | -0.02%            |  |  |  | No            |                  1 | On Loan: No      |
| BANC CREDITO INVERSIONES                                     | Banco de Credito e Inversiones SA                                         | CUSIP: 05890MAC7<br>LEI: 549300E9E5Y3PKW24142 | Long             | DBT              | CORP              | CL        |    200000 | PA      | $215088.00    | 0.18%             | N/A             | Fixed         | 8.75%                 | No            |                  2 | On Loan: No      |
| Arbor Realty Collateralized Lo                               | Arbor Realty Commercial Real Estate Notes 2021-FL4 Ltd                    | CUSIP: 03880RAJ8<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    350000 | PA      | $349521.90    | 0.30%             | 2036-11-15      | Floating      | 7.36%                 | No            |                  2 | On Loan: No      |
| VERMILION ENERGY INC                                         | Vermilion Energy Inc                                                      | CUSIP: 923725AD7<br>LEI: 8945009D1HGCJC8M8A68 | Long             | DBT              | CORP              | CA        |    250000 | PA      | $242763.51    | 0.21%             | 2030-05-01      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| EAGLE FUNDING LUXCO SARL                                     | Eagle Funding Luxco Sarl                                                  | CUSIP: 26951TAA8<br>LEI: 894500VDP08MVIZ6OA60 | Long             | DBT              | NUSS              | LU        |    700000 | PA      | $704025.00    | 0.60%             | 2030-08-17      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| ORGANON & CO/ORGANON FOR                                     | Organon & Co / Organon Foreign Debt Co-Issuer BV                          | CUSIP: 68622FAB7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    200000 | PA      | $179314.06    | 0.15%             | 2034-05-15      | Fixed         | 7.88%                 | No            |                  2 | On Loan: No      |
| DOBANK SPA                                                   | doValue SpA                                                               | CUSIP: 000000000<br>LEI: 8156007AF7DB5FE05555 | Long             | DBT              | CORP              | IT        |    150000 | PA      | $183560.59    | 0.16%             | 2030-02-28      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| PAYDEN CASH RESERVES MONEY MARKET                            | PAYDEN CASH RESERVES MONEY MARKET                                         | CUSIP: 000000000<br>LEI: N/A                  | Long             | STIV             | CORP              | US        |    704460 | NS      | $704460.24    | 0.60%             |  |  |  | No            |                  1 | On Loan: No      |
| EXTRA SPACE STORAGE LP                                       | Extra Space Storage LP                                                    | CUSIP: 30225VAU1<br>LEI: 549300YNKSKNZFR8UC42 | Long             | DBT              | CORP              | US        |    175000 | PA      | $175475.16    | 0.15%             | 2035-06-15      | Fixed         | 5.40%                 | No            |                  2 | On Loan: No      |
| Fannie Mae - CAS                                             | Connecticut Avenue Securities Trust 2025-R02                              | CUSIP: 20754TAB8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    391886 | PA      | $392107.09    | 0.33%             | 2045-02-25      | Floating      | 5.35%                 | No            |                  2 | On Loan: No      |
| VISA INC                                                     | Visa Inc                                                                  | CUSIP: 92826CAU6<br>LEI: 549300JZ4OKEHW3DPJ59 | Long             | DBT              | CORP              | US        |    350000 | PA      | $397337.34    | 0.34%             | 2028-05-15      | Fixed         | 2.25%                 | No            |                  2 | On Loan: No      |
| TRUIST FINANCIAL CORP                                        | Truist Financial Corp                                                     | CUSIP: 89788MAT9<br>LEI: 549300DRQQI75D2JP341 | Long             | DBT              | CORP              | US        |    125000 | PA      | $127166.05    | 0.11%             | 2032-08-05      | Fixed         | 5.15%                 | No            |                  2 | On Loan: No      |
| Driven Brands Funding, LLC                                   | Driven Brands Funding LLC                                                 | CUSIP: 26209XAD3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    234773 | PA      | $219135.21    | 0.19%             | 2051-10-20      | Fixed         | 2.79%                 | No            |                  2 | On Loan: No      |
| STAR PARENT INC                                              | Star Parent Inc                                                           | CUSIP: 855170AA4<br>LEI: 254900GRGCJYRMDRWT73 | Long             | DBT              | CORP              | US        |    350000 | PA      | $368497.09    | 0.31%             | 2030-10-01      | Fixed         | 9.00%                 | No            |                  2 | On Loan: No      |
| Driven Brands Funding, LLC                                   | Driven Brands Funding LLC                                                 | CUSIP: 26208LAD0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    364902 | PA      | $363324.42    | 0.31%             | 2049-04-20      | Fixed         | 4.64%                 | No            |                  2 | On Loan: No      |
| Life Financial Services Trust                                | Life 2021-BMR Mortgage Trust                                              | CUSIP: 53218CAN0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    385000 | PA      | $378958.39    | 0.32%             | 2038-03-15      | Floating      | 7.41%                 | No            |                  2 | On Loan: No      |
| BOMBARDIER INC                                               | Bombardier Inc                                                            | CUSIP: 097751CC3<br>LEI: W7L3VLU8EHQY34Z36697 | Long             | DBT              | CORP              | CA        |    200000 | PA      | $207147.80    | 0.18%             | 2032-06-01      | Fixed         | 7.00%                 | No            |                  2 | On Loan: —       |
| US TREASURY N/B                                              | United States Treasury Note/Bond                                          | CUSIP: 91282CMV0<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   3800000 | PA      | $3792875.00   | 3.21%             | 2027-03-31      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| BRAVO Residential Funding Trus                               | BRAVO Residential Funding Trust 2025-NQM6                                 | CUSIP: 10570MAF7<br>LEI: 254900U9H6FFPW4O4S55 | Long             | ABS-MBS          | CORP              | US        |    475000 | PA      | $473163.13    | 0.40%             | 2065-06-25      | Variable      | 6.03%                 | No            |                  2 | On Loan: No      |
| Elmwood CLO 15 Ltd                                           | Elmwood CLO 15 Ltd                                                        | CUSIP: 29003JAN4<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | JE        |   1000000 | PA      | $999960.00    | 0.85%             | 2035-04-22      | Floating      | 5.41%                 | No            |                  2 | On Loan: No      |
| Consolidated Energy Finance SA                               | CONSOLIDATED ENERGY FIN SA                                                | CUSIP: 000000000<br>LEI: 549300PUNIS0USNSL750 | Long             | LON              | CORP              | LU        |    297247 | PA      | $282587.22    | 0.24%             | 2030-11-15      | Floating      | 8.83%                 | No            |                  2 | On Loan: No      |
| BNP PARIBAS SECURITIES CORP.                                 | USD/GBP FORWARD                                                           | CUSIP: 000000000<br>LEI: RCNB6OTYUAMMP879YW96 | N/A              | DFE              | CORP              | US        |         1 | NC      | $-20619.43    | -0.02%            |  |  |  | No            |                  2 | On Loan: No      |
| BX Trust                                                     | BX 2025-BIO3 Mortgage Trust                                               | CUSIP: 123911AE9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    550000 | PA      | $558812.21    | 0.47%             | 2042-02-10      | Fixed         | 6.56%                 | No            |                  2 | On Loan: No      |
| BX Trust                                                     | BX Trust 2025-VLT6                                                        | CUSIP: 12433KAE7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    300000 | PA      | $300288.24    | 0.25%             | 2042-03-15      | Floating      | 6.53%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF PARAGUAY                                         | Paraguay Government International Bond                                    | CUSIP: 000000000<br>LEI: 529900UXKJTJPCU0HK83 | Long             | DBT              | NUSS              | PY        |    250000 | PA      | $256725.00    | 0.22%             | 2036-02-09      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| MINERVA LUXEMBOURG SA                                        | Minerva Luxembourg SA                                                     | CUSIP: 000000000<br>LEI: 222100NM3G3RCPGZ2Z17 | Long             | DBT              | CORP              | LU        |    225000 | PA      | $245112.08    | 0.21%             | 2033-09-13      | Fixed         | 8.88%                 | No            |                  2 | On Loan: No      |
| Wells Fargo Commercial Mortgag                               | Wells Fargo Commercial Mortgage Trust 2018-C46                            | CUSIP: 95001QAV3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   7530639 | PA      | $137393.50    | 0.12%             | 2051-08-15      | Variable      | 0.90%                 | No            |                  2 | On Loan: No      |
| Freddie Mac - STACR                                          | Freddie Mac STACR REMIC Trust 2023-HQA3                                   | CUSIP: 35564NAA1<br>LEI: 529900ZTXRUUVE8G8W08 | Long             | ABS-MBS          | CORP              | US        |    250000 | PA      | $263939.93    | 0.22%             | 2043-11-25      | Floating      | 7.70%                 | No            |                  2 | On Loan: No      |
| ENTEGRIS INC                                                 | Entegris Inc                                                              | CUSIP: 29365BAA1<br>LEI: IYX6OWO7BT5DKO3BYG52 | Long             | DBT              | CORP              | US        |    125000 | PA      | $122558.73    | 0.10%             | 2029-04-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| Hanesbrands Inc                                              | HANESBRANDS INC                                                           | CUSIP: 410346AY6<br>LEI: GX5LWVWZLL5S4W1L2F20 | Long             | LON              | CORP              | US        |    473938 | PA      | $476404.34    | 0.40%             | 2032-03-07      | Floating      | 7.11%                 | No            |                  2 | On Loan: No      |
| Freddie Mac - STACR                                          | Freddie Mac STACR REMIC Trust 2021-DNA7                                   | CUSIP: 35564KNE5<br>LEI: 5493000ISOMSKCX2AW62 | Long             | ABS-MBS          | CORP              | US        |    400000 | PA      | $428011.28    | 0.36%             | 2041-11-25      | Floating      | 12.15%                | No            |                  2 | On Loan: No      |
| QXO BUILDING PRODUCTS                                        | QXO Building Products Inc                                                 | CUSIP: 74825NAA5<br>LEI: 549300HDXQWWCBOYXP31 | Long             | DBT              | CORP              | US        |    225000 | PA      | $232261.65    | 0.20%             | 2032-04-30      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| Fannie Mae - CAS                                             | Connecticut Avenue Securities Trust 2022-R02                              | CUSIP: 20754BAF8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1075000 | PA      | $1121849.36   | 0.95%             | 2042-01-25      | Floating      | 8.85%                 | No            |                  2 | On Loan: No      |
| TAMARACK VALLEY ENERGY L                                     | Tamarack Valley Energy Ltd                                                | CUSIP: 87505YAF9<br>LEI: 549300TLKPX8BE14MH06 | Long             | DBT              | CORP              | CA        |    400000 | PA      | $290848.73    | 0.25%             | 2030-07-25      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF GUATEMALA                                        | Guatemala Government Bond                                                 | CUSIP: 000000000<br>LEI: 529900QKDFFU9UWW5315 | Long             | DBT              | NUSS              | GT        |    250000 | PA      | $255645.00    | 0.22%             | 2037-02-06      | Fixed         | 6.55%                 | No            |                  2 | On Loan: No      |
| BX Trust                                                     | BX Trust 2023-DELC                                                        | CUSIP: 05610DAA0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    500000 | PA      | $503877.15    | 0.43%             | 2038-05-15      | Floating      | 7.03%                 | No            |                  2 | On Loan: No      |
| UZBEKISTAN INTL BOND                                         | Republic of Uzbekistan International Bond                                 | CUSIP: 000000000<br>LEI: 213800L6VDKUM3TCM927 | Long             | DBT              | NUSS              | UZ        |    375000 | PA      | $440690.92    | 0.37%             | 2029-02-25      | Fixed         | 5.10%                 | No            |                  2 | On Loan: No      |
| Fannie Mae - CAS                                             | Connecticut Avenue Securities Trust 2019-HRP1                             | CUSIP: 20754PAC4<br>LEI: 549300Z5THZ1JXIHVK60 | Long             | ABS-MBS          | CORP              | US        |     22004 | PA      | $22004.67     | 0.02%             | 2039-11-25      | Floating      | 6.61%                 | No            |                  2 | On Loan: No      |
| AECOM                                                        | AECOM                                                                     | CUSIP: 00766TAE0<br>LEI: 0EEB8GF0W0NPCIHZX097 | Long             | DBT              | CORP              | US        |    300000 | PA      | $302641.50    | 0.26%             | 2033-08-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Regatta XVI Funding Ltd.                                     | Regatta XVI Funding Ltd                                                   | CUSIP: 75888TAS4<br>LEI: 254900XPJFGKL5R4O429 | Long             | ABS-CBDO         | CORP              | KY        |    250000 | PA      | $250281.75    | 0.21%             | 2033-01-15      | Floating      | 6.22%                 | No            |                  2 | On Loan: No      |
| HYATT HOTELS CORP                                            | Hyatt Hotels Corp                                                         | CUSIP: 448579AU6<br>LEI: T27JQIMTYSH41TCD5186 | Long             | DBT              | CORP              | US        |     75000 | PA      | $75761.12     | 0.06%             | 2028-03-30      | Fixed         | 5.05%                 | No            |                  2 | On Loan: No      |
| HUNGARY GOVERNMENT BOND                                      | Hungary Government Bond                                                   | CUSIP: 000000000<br>LEI: 5299003F3UFKGCCMAP43 | Long             | DBT              | NUSS              | HU        | 465000000 | PA      | $1131312.30   | 0.96%             | 2030-08-21      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| ROMANIA                                                      | Romanian Government International Bond                                    | CUSIP: 77586RAY6<br>LEI: 315700IASY927EDWBK92 | Long             | DBT              | NUSS              | RO        |    130000 | PA      | $130723.45    | 0.11%             | 2030-09-16      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Freddie Mac - STACR                                          | Freddie Mac STACR REMIC Trust 2022-HQA1                                   | CUSIP: 35564KUE7<br>LEI: 5493000IRODEKU3J3Q16 | Long             | ABS-MBS          | CORP              | US        |    950000 | PA      | $1032059.01   | 0.87%             | 2042-03-25      | Floating      | 11.35%                | No            |                  2 | On Loan: No      |
| Omnia Partners, LLC                                          | OMNIA PARTNERS LLC                                                        | CUSIP: 68218HAE7<br>LEI: 254900ZD1P5CVG9GOS22 | Long             | LON              | CORP              | US        |    272938 | PA      | $273839.56    | 0.23%             | 2030-07-25      | Floating      | 6.81%                 | No            |                  2 | On Loan: No      |
| HSBC SECURITIES (USA) INC.                                   | USD/EUR FORWARD                                                           | CUSIP: 000000000<br>LEI: CYYGQCGNHMHPSMRL3R97 | N/A              | DFE              | CORP              | US        |         1 | NC      | $266894.11    | 0.23%             |  |  |  | No            |                  2 | On Loan: No      |
| Neuberger Berman CLO Ltd                                     | Neuberger Berman Loan Advisers Clo 51 Ltd                                 | CUSIP: 64135BAQ2<br>LEI: 549300E2R8NH2QE50368 | Long             | ABS-CBDO         | CORP              | JE        |    450000 | PA      | $450700.65    | 0.38%             | 2036-10-23      | Floating      | 6.17%                 | No            |                  2 | On Loan: No      |
| VISTRA OPERATIONS CO LLC                                     | Vistra Operations Co LLC                                                  | CUSIP: 92840VAQ5<br>LEI: 549300ZH5GKBTJZ7NM23 | Long             | DBT              | CORP              | US        |    100000 | PA      | $110020.50    | 0.09%             | 2033-10-15      | Fixed         | 6.95%                 | No            |                  2 | On Loan: No      |
| OFFICE CHERIFIEN DES PHO                                     | OCP SA                                                                    | CUSIP: 67091TAJ4<br>LEI: 213800D26TAPVTCVWG40 | Long             | DBT              | CORP              | MA        |    200000 | PA      | $202752.88    | 0.17%             | 2036-03-01      | Fixed         | 6.70%                 | No            |                  2 | On Loan: No      |
| DOMINICAN REPUBLIC                                           | Dominican Republic International Bond                                     | CUSIP: 000000000<br>LEI: 254900EHU7Q8FGVPI369 | Long             | DBT              | NUSS              | DO        |    275000 | PA      | $278093.75    | 0.24%             | 2027-01-25      | Fixed         | 5.95%                 | No            |                  2 | On Loan: No      |
| BNP PARIBAS SECURITIES CORP.                                 | HUF/USD FORWARD                                                           | CUSIP: 000000000<br>LEI: RCNB6OTYUAMMP879YW96 | N/A              | DFE              | CORP              | US        |         1 | NC      | $19835.99     | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| COMM Mortgage Trust                                          | COMM 2025-SBX Mortgage Trust                                              | CUSIP: 20047UAE6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    550000 | PA      | $549450.00    | 0.47%             | 2041-08-10      | Variable      | 6.04%                 | No            |                  2 | On Loan: No      |
| American Credit Acceptance Rec                               | American Credit Acceptance Receivables Trust 2024-4                       | CUSIP: 024945AG2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    500000 | PA      | $503122.90    | 0.43%             | 2031-08-12      | Fixed         | 5.34%                 | No            |                  2 | On Loan: No      |
| CENTENE CORP                                                 | Centene Corp                                                              | CUSIP: 15135BAV3<br>LEI: 549300Z7JJ4TQSQGT333 | Long             | DBT              | CORP              | US        |    100000 | PA      | $90106.89     | 0.08%             | 2030-02-15      | Fixed         | 3.38%                 | No            |                  2 | On Loan: No      |
| AMRIZE FINANCE US LLC                                        | Amrize Finance US LLC                                                     | CUSIP: 43475RAC0<br>LEI: 529900FB2F1WKLFNGY62 | Long             | DBT              | CORP              | US        |    200000 | PA      | $202077.31    | 0.17%             | 2030-04-07      | Fixed         | 4.95%                 | No            |                  2 | On Loan: No      |
| BX Trust                                                     | BX Trust 2025-VLT7                                                        | CUSIP: 123913AA3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    300000 | PA      | $301546.62    | 0.26%             | 2044-07-15      | Floating      | 6.00%                 | No            |                  2 | On Loan: No      |
| Santander Bank Auto Credit-Lin                               | Santander Bank Auto Credit-Linked Notes Series 2022-B                     | CUSIP: 80290CBB9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    164654 | PA      | $165405.74    | 0.14%             | 2032-08-16      | Fixed         | 11.91%                | No            |                  2 | On Loan: No      |
| Capital Automotive Reit                                      | CARS-DB4 LP                                                               | CUSIP: 12510HAH3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    200000 | PA      | $193122.24    | 0.16%             | 2050-02-15      | Fixed         | 4.52%                 | No            |                  2 | On Loan: No      |
| Dragon Buyer, Inc.                                           | DRAGON BUYER INC                                                          | CUSIP: 26143FAB5<br>LEI: 2549006V6EIUFGF2Y127 | Long             | LON              | CORP              | US        |    199000 | PA      | $199550.24    | 0.17%             | 2031-09-30      | Floating      | 7.30%                 | No            |                  2 | On Loan: No      |
| Voya CLO Ltd                                                 | Voya CLO 2021-1 Ltd                                                       | CUSIP: 92918QAS9<br>LEI: 549300TZK6NKU72KPL60 | Long             | ABS-CBDO         | CORP              | KY        |    500000 | PA      | $498298.00    | 0.42%             | 2034-07-15      | Floating      | 6.02%                 | No            |                  2 | On Loan: No      |
| BOARD OF TRADE OF THE CITY OF CHICAGO, INC.                  | US ULTRA BOND CBT                                                         | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DIR              | CORP              | US        |         1 | NC      | $402.78       | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| KKR Financial CLO Ltd                                        | KKR Clo 25 Ltd                                                            | CUSIP: 48252UAU1<br>LEI: 549300MJB0YZ0QTQNZ45 | Long             | ABS-CBDO         | CORP              | KY        |    600000 | PA      | $597920.40    | 0.51%             | 2034-07-15      | Floating      | 5.27%                 | No            |                  2 | On Loan: No      |
| KREF 2022-Fl3 Ltd                                            | KREF 2022-FL3 Ltd                                                         | CUSIP: 48275EAJ5<br>LEI: 549300DG0FGL1EU1CT79 | Long             | ABS-CBDO         | CORP              | KY        |    300000 | PA      | $298869.57    | 0.25%             | 2039-02-17      | Floating      | 7.15%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF SOUTH AFRICA                                     | Republic of South Africa Government Bond                                  | CUSIP: 000000000<br>LEI: 378900AAFB4F17004C49 | Long             | DBT              | NUSS              | ZA        |  22200000 | PA      | $1163878.38   | 0.99%             | 2035-02-28      | Fixed         | 8.88%                 | No            |                  2 | On Loan: No      |
| WELLS FARGO & COMPANY                                        | Wells Fargo & Co                                                          | CUSIP: 95000U3D3<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | DBT              | CORP              | US        |    275000 | PA      | $281462.99    | 0.24%             | 2034-04-24      | Fixed         | 5.39%                 | No            |                  2 | On Loan: No      |
| MUTHOOT FINANCE LTD                                          | Muthoot Finance Ltd                                                       | CUSIP: 62828L2C6<br>LEI: 335800HAMJMBFL4RRF02 | Long             | DBT              | CORP              | IN        |    225000 | PA      | $230302.86    | 0.20%             | 2028-02-14      | Fixed         | 7.12%                 | No            |                  2 | On Loan: No      |
| BNP PARIBAS SECURITIES CORP.                                 | USD/AUD FORWARD                                                           | CUSIP: 000000000<br>LEI: RCNB6OTYUAMMP879YW96 | N/A              | DFE              | CORP              | US        |         1 | NC      | $1404.01      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| BOARD OF TRADE OF THE CITY OF CHICAGO, INC.                  | US 5YR NOTE (CBT)                                                         | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DIR              | CORP              | US        |        48 | NC      | $1564.92      | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Valley Stream Park CLO, Ltd                                  | Valley Stream Park CLO LTD                                                | CUSIP: 92013AAX7<br>LEI: 213800DEME82SWN32S20 | Long             | ABS-CBDO         | CORP              | JE        |    800000 | PA      | $801698.40    | 0.68%             | 2037-01-20      | Floating      | 6.18%                 | No            |                  2 | On Loan: No      |
| OVH GROUPE SAS                                               | OVH Groupe SA                                                             | CUSIP: 000000000<br>LEI: 9695001J8OSOVX4TP939 | Long             | DBT              | CORP              | FR        |    275000 | PA      | $321296.22    | 0.27%             | 2031-02-05      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| United Natural Foods Inc                                     | UNITED NATURAL FOODS INC                                                  | CUSIP: 91116KAD7<br>LEI: 549300GKGW6WPZ282D40 | Long             | LON              | CORP              | US        |    345407 | PA      | $348613.85    | 0.30%             | 2031-04-25      | Floating      | 4.36%                 | No            |                  2 | On Loan: No      |
| CIA DE MINAS BUENAVENTUR                                     | Cia de Minas Buenaventura SAA                                             | CUSIP: 204448AB0<br>LEI: 529900WQB1ZU9KB6EL71 | Long             | DBT              | CORP              | PE        |    575000 | PA      | $588713.75    | 0.50%             | 2032-02-04      | Fixed         | 6.80%                 | No            |                  2 | On Loan: No      |
| Santander Drive Auto Receivabl                               | Santander Drive Auto Receivables Trust 2023-S1                            | CUSIP: 80286QAB5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    347197 | PA      | $348009.93    | 0.29%             | 2028-04-18      | Fixed         | 10.40%                | No            |                  2 | On Loan: No      |
| Palisades Center Trust                                       | Palisades Center Trust 2016-PLSD                                          | CUSIP: 69640GAG0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    900000 | PA      | $117000.00    | 0.10%             | 2033-04-13      | Fixed         | 3.36%                 | No            |                  3 | On Loan: No      |
| Payden Cash Reserves Money Market Fund                       | Payden Cash Reserves Money Market Fund                                    | CUSIP: 704329598<br>LEI: 549300SI0EB26HO5RT16 | Long             | STIV             | RF                | US        |   1369795 | NS      | $1369794.63   | 1.16%             |  |  |  | No            |                  1 | On Loan: No      |
| EUREX CLEARING AKTIENGESELLSCHAFT                            | EURO-BUND                                                                 | CUSIP: 000000000<br>LEI: 529900LN3S50JPU47S06 | N/A              | DIR              | CORP              | DE        |       -31 | NC      | $31541.23     | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| EMRLD BOR / EMRLD CO-ISS                                     | EMRLD Borrower LP / Emerald Co-Issuer Inc                                 | CUSIP: 26873CAB8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    150000 | PA      | $154632.75    | 0.13%             | 2031-07-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| SYNOPSYS INC                                                 | Synopsys Inc                                                              | CUSIP: 871607AE7<br>LEI: QG7T915N9S0NY5UKNE63 | Long             | DBT              | CORP              | US        |    165000 | PA      | $165664.73    | 0.14%             | 2035-04-01      | Fixed         | 5.15%                 | No            |                  2 | On Loan: No      |
| TRANSDIGM INC                                                | TRANSDIGM INC                                                             | CUSIP: 89364MCA0<br>LEI: 88Q84GB3X55CF5OC7582 | Long             | LON              | CORP              | US        |    198995 | PA      | $199807.87    | 0.17%             | 2031-02-28      | Floating      | 6.83%                 | No            |                  2 | On Loan: No      |
| VERMILION ENERGY INC                                         | Vermilion Energy Inc                                                      | CUSIP: 923725AE5<br>LEI: 8945009D1HGCJC8M8A68 | Long             | DBT              | CORP              | CA        |    125000 | PA      | $118292.23    | 0.10%             | 2033-02-15      | Fixed         | 7.25%                 | No            |                  2 | On Loan: —       |
| REPUBLIC OF ARGENTINA                                        | Argentine Republic Government International Bond                          | CUSIP: 040114HT0<br>LEI: 549300KPBYGYF7HCHO27 | Long             | DBT              | NUSS              | AR        |    250000 | PA      | $165625.00    | 0.14%             | 2035-07-09      | Variable      | 4.12%                 | No            |                  2 | On Loan: No      |
| WMG ACQUISITION CORP                                         | WMG Acquisition Corp                                                      | CUSIP: 92933BAT1<br>LEI: 549300NAS11NXI33CP80 | Long             | DBT              | CORP              | US        |    175000 | PA      | $164460.68    | 0.14%             | 2029-12-01      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| BOOTS GROUP FINCO LP                                         | Boots Group Finco LP                                                      | CUSIP: 000000000<br>LEI: 254900YVLYOVF1PF1N93 | Long             | DBT              | CORP              | US        |    300000 | PA      | $350884.76    | 0.30%             | 2032-08-31      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| VB-S1 Issuer LLC                                             | VB-S1 Issuer LLC - VBTEL                                                  | CUSIP: 91823ABA8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    300000 | PA      | $283460.97    | 0.24%             | 2052-02-15      | Fixed         | 5.27%                 | No            |                  2 | On Loan: No      |
| Freddie Mac - STACR                                          | Freddie Mac STACR REMIC Trust 2021-HQA4                                   | CUSIP: 35564KNK1<br>LEI: 5493000ISE4NWBTOSK36 | Long             | ABS-MBS          | CORP              | US        |    599095 | PA      | $599025.40    | 0.51%             | 2041-12-25      | Floating      | 5.30%                 | No            |                  2 | On Loan: No      |
| Leia Finco US LLC                                            | LEIA FINCO US LLC                                                         | CUSIP: 52526CAB5<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    124688 | PA      | $125050.96    | 0.11%             | 2031-10-09      | Floating      | 7.57%                 | No            |                  2 | On Loan: No      |
| Freddie Mac - STACR                                          | Freddie Mac STACR REMIC Trust 2024-HQA1                                   | CUSIP: 35564NCA9<br>LEI: 529900PGKDI4ZEXFQ523 | Long             | ABS-MBS          | CORP              | US        |    350000 | PA      | $354887.12    | 0.30%             | 2044-03-25      | Floating      | 6.35%                 | No            |                  2 | On Loan: No      |
| AMERICAN HOMES 4 RENT                                        | American Homes 4 Rent LP                                                  | CUSIP: 02666TAK3<br>LEI: 549300N4PXZ37U8QKI55 | Long             | DBT              | CORP              | US        |    125000 | PA      | $125887.43    | 0.11%             | 2030-06-15      | Fixed         | 4.95%                 | No            |                  2 | On Loan: No      |
| JPMORGAN CHASE & CO                                          | JPMorgan Chase & Co                                                       | CUSIP: 46647PER3<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | DBT              | CORP              | US        |    175000 | PA      | $173146.84    | 0.15%             | 2035-10-22      | Fixed         | 4.95%                 | No            |                  2 | On Loan: No      |
| MORGAN STANLEY                                               | Morgan Stanley                                                            | CUSIP: 61747YFY6<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |    350000 | PA      | $354384.20    | 0.30%             | 2029-04-12      | Fixed         | 4.99%                 | No            |                  2 | On Loan: No      |
| Extended Stay America Trust                                  | Extended Stay America Trust 2021-ESH                                      | CUSIP: 30227FAN0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    557523 | PA      | $558864.21    | 0.47%             | 2038-07-15      | Floating      | 8.16%                 | No            |                  2 | On Loan: No      |
| OPEN TEXT CORP                                               | Open Text Corp                                                            | CUSIP: 683715AF3<br>LEI: 549300HP7ONDQODZJV16 | Long             | DBT              | CORP              | CA        |    375000 | PA      | $387542.25    | 0.33%             | 2027-12-01      | Fixed         | 6.90%                 | No            |                  2 | On Loan: No      |
| Fannie Mae - CAS                                             | Connecticut Avenue Securities Trust 2022-R04                              | CUSIP: 20753YAF9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    800000 | PA      | $851795.52    | 0.72%             | 2042-03-25      | Floating      | 9.60%                 | No            |                  2 | On Loan: No      |
| BNP PARIBAS SECURITIES CORP.                                 | USD/EUR FORWARD                                                           | CUSIP: 000000000<br>LEI: RCNB6OTYUAMMP879YW96 | N/A              | DFE              | CORP              | US        |         1 | NC      | $-26191.91    | -0.02%            |  |  |  | No            |                  2 | On Loan: No      |
| Exeter Automobile Receivables                                | Exeter Automobile Receivables Trust 2024-5                                | CUSIP: 30165BAG8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    450000 | PA      | $448499.70    | 0.38%             | 2031-02-18      | Fixed         | 5.06%                 | No            |                  2 | On Loan: No      |
| JDAC 0 08/15/29                                              | JDAC 0 08/15/29                                                           | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | US        |         1 | NS      | $186852.91    | 0.16%             |  |  |  | No            |                  2 | On Loan: No      |
| TTAN                                                         | TTAN 2021-MHC                                                             | CUSIP: 87303TAN7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    228963 | PA      | $229525.37    | 0.19%             | 2038-03-15      | Floating      | 6.86%                 | No            |                  2 | On Loan: No      |
| HSBC SECURITIES (USA) INC.                                   | MXN/USD FORWARD                                                           | CUSIP: 000000000<br>LEI: CYYGQCGNHMHPSMRL3R97 | N/A              | DFE              | CORP              | US        |         1 | NC      | $2522.35      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| BOEING CO                                                    | Boeing Co/The                                                             | CUSIP: 097023CU7<br>LEI: RVHJWBXLJ1RFUBSY1F30 | Long             | DBT              | CORP              | US        |     25000 | PA      | $25154.76     | 0.02%             | 2027-05-01      | Fixed         | 5.04%                 | No            |                  2 | On Loan: No      |
| Freddie Mac - STACR                                          | Freddie Mac STACR REMIC Trust 2022-DNA3                                   | CUSIP: 35564KVE6<br>LEI: 5493000IS4M3TZMRB410 | Long             | ABS-MBS          | CORP              | US        |    650000 | PA      | $684315.06    | 0.58%             | 2042-04-25      | Floating      | 8.70%                 | No            |                  2 | On Loan: No      |
| WESTERN MIDSTREAM OPERAT                                     | Western Midstream Operating LP                                            | CUSIP: 958667AG2<br>LEI: L6D8A6MLSY454J2JXJ60 | Long             | DBT              | CORP              | US        |    100000 | PA      | $98094.36     | 0.08%             | 2034-11-15      | Fixed         | 5.45%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF NIGERIA                                          | Nigeria Government International Bond                                     | CUSIP: 000000000<br>LEI: 549300GSBZD84TNEQ285 | Long             | DBT              | NUSS              | NG        |    200000 | PA      | $215312.33    | 0.18%             | 2034-12-09      | Fixed         | 10.38%                | No            |                  2 | On Loan: No      |
| BX Trust                                                     | BX Trust 2025-VLT6                                                        | CUSIP: 12433KAC1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    425000 | PA      | $425553.52    | 0.36%             | 2042-03-15      | Floating      | 6.23%                 | No            |                  2 | On Loan: No      |
| BANCO DE CREDITO DEL PER                                     | Banco de Credito del Peru S.A.                                            | CUSIP: 05971U2J5<br>LEI: 549300EQYQ8SCQZ4BY14 | Long             | DBT              | CORP              | PE        |    175000 | PA      | $180187.88    | 0.15%             | 2035-07-30      | Fixed         | 6.45%                 | No            |                  2 | On Loan: No      |
| BNP PARIBAS SECURITIES CORP.                                 | ZAR/USD FORWARD                                                           | CUSIP: 000000000<br>LEI: RCNB6OTYUAMMP879YW96 | N/A              | DFE              | CORP              | US        |         1 | NC      | $36090.16     | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| EMPIRE COMMUNITIES CORP                                      | Empire Communities Corp                                                   | CUSIP: 29163VAG8<br>LEI: 549300JM1L6KK2QFP273 | Long             | DBT              | CORP              | CA        |    300000 | PA      | $306323.48    | 0.26%             | 2029-05-01      | Fixed         | 9.75%                 | No            |                  2 | On Loan: No      |
| Fannie Mae - CAS                                             | Fannie Mae Connecticut Avenue Securities                                  | CUSIP: 30711XDB7<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | CORP              | US        |     98057 | PA      | $105549.59    | 0.09%             | 2029-01-25      | Floating      | 14.71%                | No            |                  2 | On Loan: No      |
| Wells Fargo Commercial Mortgag                               | Wells Fargo Commercial Mortgage Trust 2024-MGP                            | CUSIP: 95003TAW3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    200000 | PA      | $200426.98    | 0.17%             | 2041-08-15      | Floating      | 7.28%                 | No            |                  2 | On Loan: No      |
| Quikrete Holdings Inc                                        | QUIKRETE HOLDING 01/30/32                                                 | CUSIP: 74839XAL3<br>LEI: 5493007KIN86DIZWZT22 | Long             | LON              | CORP              | US        |    500000 | PA      | $500187.50    | 0.42%             | 2032-02-10      | Floating      | 0.00%                 | No            |                  2 | On Loan: No      |
| RELX CAPITAL INC                                             | RELX Capital Inc                                                          | CUSIP: 74949LAF9<br>LEI: 2R15C3RTKJN1RCBOV146 | Long             | DBT              | CORP              | US        |    100000 | PA      | $101270.80    | 0.09%             | 2030-03-27      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| AREIT CRE Trust                                              | AREIT 2025-CRE10 Ltd                                                      | CUSIP: 00193DAC2<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    300000 | PA      | $299436.48    | 0.25%             | 2030-01-17      | Floating      | 5.89%                 | No            |                  2 | On Loan: No      |
| PETROLEOS MEXICANOS                                          | Petroleos Mexicanos                                                       | CUSIP: 000000000<br>LEI: 549300CAZKPF4HKMPX17 | Long             | DBT              | CORP              | MX        |    100000 | PA      | $114061.29    | 0.10%             | 2025-11-24      | Fixed         | 3.62%                 | No            |                  2 | On Loan: No      |
| EPH FIN INTERNATIONAL AS                                     | EPH Financing International AS                                            | CUSIP: 000000000<br>LEI: 3157003E5A4ZV0JCSM65 | Long             | DBT              | CORP              | CZ        |    250000 | PA      | $308561.81    | 0.26%             | 2029-11-30      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| OHI GROUP SA                                                 | OHI Group SA                                                              | CUSIP: 67712MAB5<br>LEI: 529900GW2J8DSYJHEH26 | Long             | DBT              | CORP              | LU        |    200000 | PA      | $211300.00    | 0.18%             | 2029-07-22      | Fixed         | 13.00%                | No            |                  2 | On Loan: No      |
| OCP CLO Ltd                                                  | OCP CLO Ltd                                                               | CUSIP: 671026AQ5<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    300000 | PA      | $300152.40    | 0.25%             | 2037-01-17      | Floating      | 6.02%                 | 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        |    725000 | PA      | $770657.60    | 0.65%             | 2041-10-25      | Floating      | 11.85%                | No            |                  2 | On Loan: No      |
| Fannie Mae - CAS                                             | Connecticut Avenue Securities Trust 2023-R01                              | CUSIP: 207932AA2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1220095 | PA      | $1247411.69   | 1.06%             | 2042-12-25      | Floating      | 6.75%                 | No            |                  2 | On Loan: No      |
| ROGERS COMMUNICATIONS IN                                     | Rogers Communications Inc                                                 | CUSIP: 775109DF5<br>LEI: 5493000M6Z4XFIP6PF03 | Long             | DBT              | CORP              | CA        |    225000 | PA      | $225307.86    | 0.19%             | 2034-02-15      | Fixed         | 5.30%                 | No            |                  2 | On Loan: No      |
| HP ENTERPRISE CO                                             | Hewlett Packard Enterprise Co                                             | CUSIP: 42824CBV0<br>LEI: 549300BX44RGX6ANDV88 | Long             | DBT              | CORP              | US        |    175000 | PA      | $169828.65    | 0.14%             | 2034-10-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| BRAVO Residential Funding Trus                               | BRAVO Residential Funding Trust 2025-NQM6                                 | CUSIP: 10570MAE0<br>LEI: 254900U9H6FFPW4O4S55 | Long             | ABS-MBS          | CORP              | US        |    339414 | PA      | $337963.30    | 0.29%             | 2065-06-25      | Variable      | 5.59%                 | No            |                  2 | On Loan: No      |
| MORGAN STANLEY PVT BANK                                      | Morgan Stanley Private Bank NA                                            | CUSIP: 61776NVE0<br>LEI: 549300GS0W0TEUQS8571 | Long             | DBT              | CORP              | US        |    275000 | PA      | $274793.11    | 0.23%             | 2028-07-06      | Fixed         | 4.47%                 | No            |                  2 | On Loan: No      |
| JP Morgan Mortgage Trust                                     | JP Morgan Mortgage Trust Series 2025-NQM1                                 | CUSIP: 46593QAC2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    539679 | PA      | $544558.65    | 0.46%             | 2065-06-25      | Variable      | 5.59%                 | No            |                  2 | On Loan: No      |
| Madison Iaq LLC                                              | MADISON IAQ LLC                                                           | CUSIP: 55759VAB4<br>LEI: 549300IXDNBXNHUPBU73 | Long             | LON              | CORP              | US        |    199482 | PA      | $199833.96    | 0.17%             | 2028-06-21      | Floating      | 6.70%                 | No            |                  2 | On Loan: No      |
| ARAB REPUBLIC OF EGYPT                                       | Egypt Government International Bond                                       | CUSIP: 000000000<br>LEI: 529900GFIVH4086NMH82 | Long             | DBT              | NUSS              | EG        |    250000 | PA      | $265433.61    | 0.22%             | 2030-04-16      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| SYNOPSYS INC                                                 | Synopsys Inc                                                              | CUSIP: 871607AD9<br>LEI: QG7T915N9S0NY5UKNE63 | Long             | DBT              | CORP              | US        |    130000 | PA      | $131389.01    | 0.11%             | 2032-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| BANK OF AMERICA CORP                                         | Bank of America Corp                                                      | CUSIP: 06051GML0<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |     50000 | PA      | $51165.60     | 0.04%             | 2031-01-24      | Fixed         | 5.16%                 | No            |                  2 | On Loan: No      |
| GDZ ELEKTRIK DAGITIM AS                                      | GDZ Elektrik Dagitim AS                                                   | CUSIP: 000000000<br>LEI: 984500B63B5766038A64 | Long             | DBT              | CORP              | TR        |    200000 | PA      | $194350.05    | 0.16%             | 2029-10-15      | Fixed         | 9.00%                 | No            |                  2 | On Loan: No      |
| CITGO PETROLEUM CORP                                         | CITGO Petroleum Corp                                                      | CUSIP: 17302XAM8<br>LEI: YX52P86PXMLYDOTUQ225 | Long             | DBT              | CORP              | US        |    225000 | PA      | $224836.34    | 0.19%             | 2026-06-15      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| PETROLEOS MEXICANOS                                          | Petroleos Mexicanos                                                       | CUSIP: 000000000<br>LEI: 549300CAZKPF4HKMPX17 | Long             | DBT              | CORP              | MX        |    425000 | PA      | $482860.80    | 0.41%             | 2026-04-16      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| BE SEMICONDUCTOR                                             | BE Semiconductor Industries NV                                            | CUSIP: 000000000<br>LEI: 7245007A1YFLI2GNYX06 | Long             | DBT              | CORP              | NL        |    200000 | PA      | $238970.09    | 0.20%             | 2031-07-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| MORGAN STANLEY & CO. LLC                                     | CAD/USD FORWARD                                                           | CUSIP: 000000000<br>LEI: 9R7GPTSO7KV3UQJZQ078 | N/A              | DFE              | CORP              | US        |         1 | NC      | $10531.78     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Bain Capital Credit CLO, Limit                               | Bain Capital Credit CLO 2020-1 Ltd                                        | CUSIP: 05684DAY9<br>LEI: 2549007DKQFBF2N6NR86 | Long             | ABS-CBDO         | CORP              | KY        |    525000 | PA      | $525000.00    | 0.45%             | 2033-04-18      | Floating      | 0.01%                 | No            |                  2 | On Loan: No      |
| MCR Mortgage Trust                                           | MCR 2024-HTL Mortgage Trust                                               | CUSIP: 55286PAA1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    241708 | PA      | $241973.55    | 0.21%             | 2037-02-15      | Floating      | 6.10%                 | No            |                  2 | On Loan: No      |
| Freddie Mac - STACR                                          | Freddie Mac STACR REMIC Trust 2023-HQA2                                   | CUSIP: 35564K2F5<br>LEI: 5493000KIGZAWUOW4E32 | Long             | ABS-MBS          | CORP              | US        |    185632 | PA      | $186703.98    | 0.16%             | 2043-06-25      | Floating      | 6.35%                 | No            |                  2 | On Loan: No      |
| EUROBANK SA                                                  | Eurobank SA                                                               | CUSIP: 000000000<br>LEI: 213800KGF4EFNUQKAT69 | Long             | DBT              | CORP              | GR        |    300000 | PA      | $344112.61    | 0.29%             | 2030-03-12      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| HSBC SECURITIES (USA) INC.                                   | USD/GBP FORWARD                                                           | CUSIP: 000000000<br>LEI: CYYGQCGNHMHPSMRL3R97 | N/A              | DFE              | CORP              | US        |         1 | NC      | $53878.71     | 0.05%             |  |  |  | No            |                  2 | On Loan: No      |
| Freddie Mac - STACR                                          | Freddie Mac STACR REMIC Trust 2021-HQA3                                   | CUSIP: 35564KKK4<br>LEI: 5493000ISHRHX47NOH65 | Long             | ABS-MBS          | CORP              | US        |   1075000 | PA      | $1098662.69   | 0.93%             | 2041-09-25      | Floating      | 7.70%                 | No            |                  2 | On Loan: No      |
| Onslow Bay Financial LLC                                     | OBX 2025-NQM7 Trust                                                       | CUSIP: 67121DAA2<br>LEI: 2549008GB179CC65SK60 | Long             | ABS-MBS          | CORP              | US        |    356795 | PA      | $357736.12    | 0.30%             | 2055-05-25      | Variable      | 5.56%                 | No            |                  2 | On Loan: No      |
| ALPHA BANK SA                                                | Alpha Bank SA                                                             | CUSIP: 000000000<br>LEI: 213800DBQIB6VBNU5C64 | Long             | DBT              | CORP              | GR        |    225000 | PA      | $275108.71    | 0.23%             | 2030-05-12      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Bridgepoint CLO                                              | Bridgepoint Clo VI DAC                                                    | CUSIP: 000000000<br>LEI: 635400SMEI2C85PDRY45 | Long             | ABS-CBDO         | CORP              | IE        |    500000 | PA      | $572273.00    | 0.49%             | 2036-11-14      | Floating      | 4.84%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF SRI LANKA                                        | Sri Lanka Government International Bond                                   | CUSIP: 000000000<br>LEI: 254900IG6Y30I2QE2R92 | Long             | DBT              | NUSS              | LK        |    200000 | PA      | $181250.00    | 0.15%             | 2030-01-15      | Variable      | 3.10%                 | No            |                  2 | On Loan: No      |
| COREWEAVE INC                                                | CoreWeave Inc                                                             | CUSIP: 21873SAC2<br>LEI: 984500511DP2B6186053 | Long             | DBT              | CORP              | US        |    200000 | PA      | $199397.28    | 0.17%             | 2031-02-01      | Fixed         | 9.00%                 | No            |                  2 | On Loan: No      |
| Freddie Mac - STACR                                          | Freddie Mac STACR REMIC Trust 2024-HQA2                                   | CUSIP: 35564NDZ3<br>LEI: 5299002OYNAPMJKK2A73 | Long             | ABS-MBS          | CORP              | US        |    595870 | PA      | $596470.46    | 0.51%             | 2044-08-25      | Floating      | 5.55%                 | No            |                  2 | On Loan: No      |
| EOG RESOURCES INC                                            | EOG Resources Inc                                                         | CUSIP: 26875PAZ4<br>LEI: XWTZDRYZPBUHIQBKDB46 | Long             | DBT              | CORP              | US        |    175000 | PA      | $176387.67    | 0.15%             | 2036-01-15      | Fixed         | 5.35%                 | No            |                  2 | On Loan: No      |
| CURRENTA GROUP HOLDINGS                                      | Currenta Group Holdings Sarl                                              | CUSIP: 000000000<br>LEI: 222100SF79KCJKYUPE47 | Long             | DBT              | CORP              | LU        |    150000 | PA      | $176159.81    | 0.15%             | 2030-05-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: —       |
| Amneal Pharmaceuticals LLC                                   | AMNEAL PHARMACEUTICALS LLC                                                | CUSIP: 03167DAR5<br>LEI: 54930037VIXE7LRZ1M66 | Long             | LON              | CORP              | US        |    335000 | PA      | $335767.15    | 0.28%             | 2028-05-04      | Floating      | 0.00%                 | No            |                  2 | On Loan: No      |
| SAGAX AB                                                     | Sagax AB                                                                  | CUSIP: 000000000<br>LEI: 549300LJX28T6OM8DT95 | Long             | DBT              | CORP              | SE        |    200000 | PA      | $237863.21    | 0.20%             | 2030-05-29      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| Santander Drive Auto Receivabl                               | Santander Drive Auto Receivables Trust 2024-S1                            | CUSIP: 80286UAA8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    202155 | PA      | $202386.76    | 0.17%             | 2029-03-16      | Fixed         | 6.53%                 | No            |                  2 | On Loan: No      |
| Capital Automotive Reit                                      | CARS-DB4 LP                                                               | CUSIP: 12510HAJ9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    300000 | PA      | $270498.90    | 0.23%             | 2050-02-15      | Fixed         | 4.95%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF GHANA                                            | Ghana Government International Bond                                       | CUSIP: 374422AP8<br>LEI: 213800PP4399SNNXZ126 | Long             | DBT              | NUSS              | GH        |    375000 | PA      | $302495.09    | 0.26%             | 2035-07-03      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| Arbour CLO                                                   | Arbour Clo VII DAC                                                        | CUSIP: 000000000<br>LEI: 635400S59B1EE8UDJW07 | Long             | ABS-CBDO         | CORP              | IE        |    800000 | PA      | $916456.64    | 0.78%             | 2038-12-15      | Floating      | 4.33%                 | No            |                  2 | On Loan: No      |
| EXPAND ENERGY CORP                                           | Expand Energy Corp                                                        | CUSIP: 165167DH7<br>LEI: X2MT1W32SPAZ9WSKLE78 | Long             | DBT              | CORP              | US        |     75000 | PA      | $76010.18     | 0.06%             | 2035-01-15      | Fixed         | 5.70%                 | No            |                  2 | On Loan: No      |
| Freddie Mac - STACR                                          | Freddie Mac STACR REMIC Trust 2022-HQA3                                   | CUSIP: 35564KE39<br>LEI: 5493000IRJ8RDHSNEL96 | Long             | ABS-MBS          | CORP              | US        |    231521 | PA      | $235893.92    | 0.20%             | 2042-08-25      | Floating      | 6.65%                 | No            |                  2 | On Loan: No      |
| TDF INFRASTRUCTURE SAS                                       | TDF Infrastructure SASU                                                   | CUSIP: 000000000<br>LEI: 969500BWNQ1B0PI06I59 | Long             | DBT              | CORP              | FR        |    300000 | PA      | $347093.26    | 0.29%             | 2031-10-23      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| VB-S1 Issuer LLC                                             | VB-S1 Issuer LLC - VBTEL                                                  | CUSIP: 91823ABG5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    200000 | PA      | $207586.04    | 0.18%             | 2054-05-15      | Fixed         | 8.87%                 | No            |                  2 | On Loan: No      |
| Cologix Data Centers Issuer LL                               | Cologix Canadian Issuer LP                                                | CUSIP: 19521DAJ0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | CA        |    400000 | PA      | $280395.50    | 0.24%             | 2052-01-25      | Fixed         | 5.68%                 | No            |                  2 | On Loan: No      |
| ORBIA ADVANCE CORP SAB                                       | Orbia Advance Corp SAB de CV                                              | CUSIP: 68560EAC2<br>LEI: 549300MVHZ20SBIOEQ79 | Long             | DBT              | CORP              | MX        |    325000 | PA      | $331865.83    | 0.28%             | 2030-05-13      | Fixed         | 6.80%                 | No            |                  2 | On Loan: No      |
| Freddie Mac - STACR                                          | Freddie Mac STACR REMIC Trust 2022-HQA2                                   | CUSIP: 35564KB24<br>LEI: 5493000IRLADKYZNON28 | Long             | ABS-MBS          | CORP              | US        |    228162 | PA      | $233556.95    | 0.20%             | 2042-07-25      | Floating      | 7.00%                 | No            |                  2 | On Loan: No      |
| FIRST INDUSTRIAL LP                                          | First Industrial LP                                                       | CUSIP: 32055RAS6<br>LEI: 86MKNB3IKYZZT3E3OV11 | Long             | DBT              | CORP              | US        |    125000 | PA      | $125916.08    | 0.11%             | 2031-01-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| MORGAN STANLEY & CO. LLC                                     | JPY/USD FORWARD                                                           | CUSIP: 000000000<br>LEI: 9R7GPTSO7KV3UQJZQ078 | N/A              | DFE              | CORP              | US        |         1 | NC      | $-123760.78   | -0.10%            |  |  |  | No            |                  2 | On Loan: No      |
| EVERGY INC                                                   | Evergy Inc                                                                | CUSIP: 30034WAE6<br>LEI: 549300PGTHDQY6PSUI61 | Long             | DBT              | CORP              | US        |     75000 | PA      | $75925.95     | 0.06%             | 2055-06-01      | Fixed         | 6.65%                 | No            |                  2 | On Loan: No      |
| Freddie Mac - STACR                                          | Freddie Mac STACR REMIC Trust 2021-HQA3                                   | CUSIP: 35564KKL2<br>LEI: 5493000ISHRHX47NOH65 | Long             | ABS-MBS          | CORP              | US        |    425000 | PA      | $443313.76    | 0.38%             | 2041-09-25      | Floating      | 10.60%                | No            |                  2 | On Loan: No      |
| SAGAX EURO MTN                                               | Sagax Euro Mtn NL BV                                                      | CUSIP: 000000000<br>LEI: 549300M3FFATWSV78G84 | Long             | DBT              | CORP              | NL        |    250000 | PA      | $271968.68    | 0.23%             | 2028-01-26      | Fixed         | 0.75%                 | No            |                  2 | On Loan: No      |
| MEX BONOS DESARR FIX RT                                      | Mexican Bonos                                                             | CUSIP: 000000000<br>LEI: 254900EGTWEU67VP6075 | Long             | DBT              | NUSS              | MX        |  24200000 | PA      | $1163054.33   | 0.99%             | 2034-11-23      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| FISERV FUNDING UNLTD CO                                      | Fiserv Funding ULC                                                        | CUSIP: 337735AA2<br>LEI: 254900RNWK5SE9A0I712 | Long             | DBT              | CORP              | IE        |    350000 | PA      | $402059.13    | 0.34%             | 2028-06-15      | Fixed         | 2.88%                 | No            |                  2 | On Loan: No      |
| ROMANIA                                                      | Romanian Government International Bond                                    | CUSIP: 000000000<br>LEI: 315700IASY927EDWBK92 | Long             | DBT              | NUSS              | RO        |    200000 | PA      | $235808.52    | 0.20%             | 2032-07-11      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF SOUTH AFRICA                                     | Republic of South Africa Government International Bond                    | CUSIP: 836205BC7<br>LEI: 378900AAFB4F17004C49 | Long             | DBT              | NUSS              | ZA        |    225000 | PA      | $219410.23    | 0.19%             | 2032-04-20      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF GUATEMALA                                        | Guatemala Government Bond                                                 | CUSIP: 401494BA6<br>LEI: 529900QKDFFU9UWW5315 | Long             | DBT              | NUSS              | GT        |    300000 | PA      | $302268.00    | 0.26%             | 2036-08-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| Freddie Mac - STACR                                          | Freddie Mac STACR REMIC Trust 2021-DNA6                                   | CUSIP: 35564KLU1<br>LEI: 5493000ISONLNOUKGB71 | Long             | ABS-MBS          | CORP              | US        |    425000 | PA      | $436447.55    | 0.37%             | 2041-10-25      | Floating      | 7.75%                 | No            |                  2 | On Loan: No      |
| PARAMOUNT GLOBAL                                             | Paramount Global                                                          | CUSIP: 92556HAB3<br>LEI: 5KYC8KF17ROCY24M3H09 | Long             | DBT              | CORP              | US        |     70000 | PA      | $68288.03     | 0.06%             | 2031-01-15      | Fixed         | 4.95%                 | No            |                  2 | On Loan: No      |
| BOEING CO                                                    | Boeing Co/The                                                             | CUSIP: 097023DG7<br>LEI: RVHJWBXLJ1RFUBSY1F30 | Long             | DBT              | CORP              | US        |     25000 | PA      | $24671.37     | 0.02%             | 2026-02-04      | Fixed         | 2.20%                 | No            |                  2 | On Loan: No      |
| Freddie Mac - STACR                                          | Freddie Mac STACR REMIC Trust 2023-HQA3                                   | CUSIP: 35564K3G2<br>LEI: 529900ZTXRUUVE8G8W08 | Long             | ABS-MBS          | CORP              | US        |    126350 | PA      | $127411.56    | 0.11%             | 2043-11-25      | Floating      | 6.20%                 | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS GROUP INC                                      | Goldman Sachs Group Inc/The                                               | CUSIP: 38141GC93<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | DBT              | CORP              | US        |    175000 | PA      | $178982.38    | 0.15%             | 2031-04-23      | Fixed         | 5.22%                 | No            |                  2 | On Loan: No      |
| JPMORGAN CHASE & CO                                          | JPMorgan Chase & Co                                                       | CUSIP: 46647PEY8<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | DBT              | CORP              | US        |    200000 | PA      | $204583.22    | 0.17%             | 2031-04-22      | Fixed         | 5.10%                 | No            |                  2 | On Loan: No      |
| Fannie Mae - CAS                                             | Connecticut Avenue Securities Trust 2023-R03                              | CUSIP: 20753AAA2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1300000 | PA      | $1383254.73   | 1.17%             | 2043-04-25      | Floating      | 8.25%                 | No            |                  2 | On Loan: No      |
| ORBIA ADVANCE CORP SAB                                       | Orbia Advance Corp SAB de CV                                              | CUSIP: 68560EAD0<br>LEI: 549300MVHZ20SBIOEQ79 | Long             | DBT              | CORP              | MX        |    200000 | PA      | $206230.00    | 0.17%             | 2035-05-13      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| OCEANICA LUX                                                 | Oceanica Lux                                                              | CUSIP: 000000000<br>LEI: 635400VU48WVABC1TO64 | Long             | DBT              | CORP              | LU        |    200000 | PA      | $188500.00    | 0.16%             | 2029-10-02      | Fixed         | 13.00%                | No            |                  2 | On Loan: No      |
| BNP PARIBAS SECURITIES CORP.                                 | USD/EUR FORWARD                                                           | CUSIP: 000000000<br>LEI: RCNB6OTYUAMMP879YW96 | N/A              | DFE              | CORP              | US        |         1 | NC      | $19515.26     | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| PETROLEOS MEXICANOS                                          | Petroleos Mexicanos                                                       | CUSIP: 71643VAB1<br>LEI: 549300CAZKPF4HKMPX17 | Long             | DBT              | CORP              | MX        |    350000 | PA      | $333838.19    | 0.28%             | 2032-02-16      | Fixed         | 6.70%                 | No            |                  2 | On Loan: No      |
| TierPoint Issuer LLC                                         | TierPoint Issuer LLC                                                      | CUSIP: 88651CAA8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     66667 | PA      | $66656.96     | 0.06%             | 2053-06-25      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF GUATEMALA                                        | Guatemala Government Bond                                                 | CUSIP: 000000000<br>LEI: 529900QKDFFU9UWW5315 | Long             | DBT              | NUSS              | GT        |    425000 | PA      | $419547.25    | 0.36%             | 2027-06-05      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| KREF 2022-Fl3 Ltd                                            | KREF 2022-FL3 Ltd                                                         | CUSIP: 48275EAA4<br>LEI: 549300DG0FGL1EU1CT79 | Long             | ABS-CBDO         | CORP              | KY        |    305207 | PA      | $305776.89    | 0.26%             | 2039-02-17      | Floating      | 5.80%                 | No            |                  2 | On Loan: No      |
| Oak Street Investment Grade Ne                               | Oak Street Investment Grade Net Lease Fund Series 2020-1                  | CUSIP: 67181DAE1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    495833 | PA      | $481848.10    | 0.41%             | 2050-11-20      | Fixed         | 3.39%                 | No            |                  2 | On Loan: No      |
| Magnetite CLO Ltd                                            | Magnetite XIX Ltd                                                         | CUSIP: 55954KBA2<br>LEI: 5493000OP4ZUZOOM1U45 | Long             | ABS-CBDO         | CORP              | KY        |    300000 | PA      | $300417.00    | 0.25%             | 2034-04-17      | Floating      | 6.07%                 | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS GROUP INC                                      | Goldman Sachs Group Inc/The                                               | CUSIP: 38141GZM9<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | DBT              | CORP              | US        |    225000 | PA      | $202348.61    | 0.17%             | 2033-02-24      | Fixed         | 3.10%                 | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2025-09-18

**Name of Applicant:** PAYDEN & RYGEL INVESTMENT GROUP

**Signature:** Sandi Brents

**Name of Signer:** Sandi Brents

**Title:** Compliance Officer