# EDGAR Filing Document

**Accession Number:** 0000863520
**File Stem:** 0000940400-26-021633
**Filing Date:** 2026-5
**Character Count:** 620104
**Document Hash:** 5b76458915dd99081dedeb97ce27deed
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000940400-26-021633.hdr.sgml**: 20260528

**ACCESSION NUMBER**: 0000940400-26-021633

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20260331

**FILED AS OF DATE**: 20260528

**DATE AS OF CHANGE**: 20260528

**PERIOD START**: 20261231

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** WESTERN ASSET FUNDS INC
- **CENTRAL INDEX KEY:** 0000863520

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

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-06110
- **FILM NUMBER:** 261031896

**BUSINESS ADDRESS:**
- **STREET 1:** 100 INTERNATIONAL DRIVE
- **CITY:** BALTIMORE
- **STATE:** MD
- **ZIP:** 21202
- **BUSINESS PHONE:** 410-454-2760

**MAIL ADDRESS:**
- **STREET 1:** 100 INTERNATIONAL DRIVE
- **STREET 2:** 7TH FLOOR
- **CITY:** BALTIMORE
- **STATE:** MD
- **ZIP:** 21202

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** LM INSTITUTIONAL FUND ADVISORS I INC
- **DATE OF NAME CHANGE:** 19980818

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** WESTERN ASSET TRUST INC
- **DATE OF NAME CHANGE:** 19920703

## Series and Classes Contracts Data

### Western Asset Core Bond Fund (Series ID: S000000713)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000002079 | Class I      | WATFX           |
| C000002080 | Class FI     | WAPIX           |
| C000066988 | Class IS     | WACSX           |
| C000113701 | CLASS A      | WABAX           |
| C000113702 | CLASS C      | WABCX           |
| C000113703 | CLASS R      | WABRX           |
| C000117034 | Class C1     | LWACX           |

## Nport-Ex

Schedule of Investments (unaudited)

March 31, 2026

***If you need assistance accessing this content, please reach out to your sales representative or send an email to*** <u>accessibility@franklintempleton.com.</u>

 **Western Asset Core Bond Fund**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>(Percentages shown based on Fund net assets)

---

| | | | | |
|:---|:---|:---|:---|:---|
| Security | Rate | &nbsp;&nbsp; Maturity <br>Date<br>| &nbsp;&nbsp; Face <br>Amount<br>| Value |
| **Corporate Bonds & Notes — 34.0%** | **Corporate Bonds & Notes — 34.0%** | **Corporate Bonds & Notes — 34.0%** | **Corporate Bonds & Notes — 34.0%** | **Corporate Bonds & Notes — 34.0%** |
| **Communication Services — 4.5%** | **Communication Services — 4.5%** | **Communication Services — 4.5%** | **Communication Services — 4.5%** | **Communication Services — 4.5%** |
| *Diversified Telecommunication Services — 1.5%* | *Diversified Telecommunication Services — 1.5%* | *Diversified Telecommunication Services — 1.5%* | *Diversified Telecommunication Services — 1.5%* | *Diversified Telecommunication Services — 1.5%* |
| &nbsp;&nbsp;&nbsp; AT&T Inc., Senior Notes | &nbsp;&nbsp; 2.300% | &nbsp;&nbsp; 6/1/27 | &nbsp;&nbsp; $2930000<br>| &nbsp;&nbsp;&nbsp; $2864760<br>|
| &nbsp;&nbsp;&nbsp; AT&T Inc., Senior Notes | &nbsp;&nbsp; 2.250% | &nbsp;&nbsp; 2/1/32 | &nbsp;&nbsp; 2390000<br>| &nbsp;&nbsp;&nbsp; 2088744<br>|
| &nbsp;&nbsp;&nbsp; AT&T Inc., Senior Notes | &nbsp;&nbsp; 2.550% | &nbsp;&nbsp; 12/1/33 | &nbsp;&nbsp; 1740000<br>| &nbsp;&nbsp;&nbsp; 1473176<br>|
| &nbsp;&nbsp;&nbsp; AT&T Inc., Senior Notes | &nbsp;&nbsp; 5.375% | &nbsp;&nbsp; 8/15/35 | &nbsp;&nbsp; 60000<br>| &nbsp;&nbsp;&nbsp; 60801<br>|
| &nbsp;&nbsp;&nbsp; AT&T Inc., Senior Notes | &nbsp;&nbsp; 5.350% | &nbsp;&nbsp; 9/1/40 | &nbsp;&nbsp; 640000<br>| &nbsp;&nbsp;&nbsp; 616843<br>|
| &nbsp;&nbsp;&nbsp; AT&T Inc., Senior Notes | &nbsp;&nbsp; 5.550% | &nbsp;&nbsp; 8/15/41 | &nbsp;&nbsp; 980000<br>| &nbsp;&nbsp;&nbsp; 949298<br>|
| &nbsp;&nbsp;&nbsp; AT&T Inc., Senior Notes | &nbsp;&nbsp; 4.350% | &nbsp;&nbsp; 6/15/45 | &nbsp;&nbsp; 1300000<br>| &nbsp;&nbsp;&nbsp; 1051180<br>|
| &nbsp;&nbsp;&nbsp; AT&T Inc., Senior Notes | &nbsp;&nbsp; 3.500% | &nbsp;&nbsp; 9/15/53 | &nbsp;&nbsp; 1481000<br>| &nbsp;&nbsp;&nbsp; 971870<br>|
| &nbsp;&nbsp;&nbsp; AT&T Inc., Senior Notes | &nbsp;&nbsp; 3.550% | &nbsp;&nbsp; 9/15/55 | &nbsp;&nbsp; 871000<br>| &nbsp;&nbsp;&nbsp; 566896<br>|
| &nbsp;&nbsp;&nbsp; NTT Finance Corp., Senior Notes | &nbsp;&nbsp; 4.620% | &nbsp;&nbsp; 7/16/28 | &nbsp;&nbsp; 600000<br>| &nbsp;&nbsp;&nbsp; 602379<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; NTT Finance Corp., Senior Notes | &nbsp;&nbsp; 4.876% | &nbsp;&nbsp; 7/16/30 | &nbsp;&nbsp; 1840000<br>| &nbsp;&nbsp;&nbsp; 1852177<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; NTT Finance Corp., Senior Notes | &nbsp;&nbsp; 5.171% | &nbsp;&nbsp; 7/16/32 | &nbsp;&nbsp; 3230000<br>| &nbsp;&nbsp;&nbsp; 3254544<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Verizon Communications Inc., Senior Notes | &nbsp;&nbsp; 3.875% | &nbsp;&nbsp; 2/8/29 | &nbsp;&nbsp; 578000<br>| &nbsp;&nbsp;&nbsp; 572586<br>|
| &nbsp;&nbsp;&nbsp; Verizon Communications Inc., Senior Notes | &nbsp;&nbsp; 3.150% | &nbsp;&nbsp; 3/22/30 | &nbsp;&nbsp; 1160000<br>| &nbsp;&nbsp;&nbsp; 1105109<br>|
| &nbsp;&nbsp;&nbsp; Verizon Communications Inc., Senior Notes | &nbsp;&nbsp; 4.500% | &nbsp;&nbsp; 8/10/33 | &nbsp;&nbsp; 1718000<br>| &nbsp;&nbsp;&nbsp; 1667108<br>|
| &nbsp;&nbsp;&nbsp; Verizon Communications Inc., Senior Notes | &nbsp;&nbsp; 4.780% | &nbsp;&nbsp; 2/15/35 | &nbsp;&nbsp; 2711000<br>| &nbsp;&nbsp;&nbsp; 2624902<br>|
| &nbsp;&nbsp;&nbsp; Verizon Communications Inc., Senior Notes | &nbsp;&nbsp; 5.250% | &nbsp;&nbsp; 3/16/37 | &nbsp;&nbsp; 1767000<br>| &nbsp;&nbsp;&nbsp; 1746649<br>|
| &nbsp;&nbsp;&nbsp; Verizon Communications Inc., Senior Notes | &nbsp;&nbsp; 2.650% | &nbsp;&nbsp; 11/20/40 | &nbsp;&nbsp; 60000<br>| &nbsp;&nbsp;&nbsp; 42145<br>|
| &nbsp;&nbsp;&nbsp; Verizon Communications Inc., Senior Notes | &nbsp;&nbsp; 3.400% | &nbsp;&nbsp; 3/22/41 | &nbsp;&nbsp; 1400000<br>| &nbsp;&nbsp;&nbsp; 1075641<br>|
| &nbsp;&nbsp;&nbsp; Verizon Communications Inc., Senior Notes | &nbsp;&nbsp; 3.850% | &nbsp;&nbsp; 11/1/42 | &nbsp;&nbsp; 416000<br>| &nbsp;&nbsp;&nbsp; 331894<br>|
| &nbsp;&nbsp;&nbsp; Verizon Communications Inc., Senior Notes | &nbsp;&nbsp; 5.500% | &nbsp;&nbsp; 3/16/47 | &nbsp;&nbsp; 564000<br>| &nbsp;&nbsp;&nbsp; 532486<br>|
| &nbsp;&nbsp;&nbsp; Verizon Communications Inc., Senior Notes | &nbsp;&nbsp; 4.000% | &nbsp;&nbsp; 3/22/50 | &nbsp;&nbsp; 50000<br>| &nbsp;&nbsp;&nbsp; 37789<br>|
| *Total Diversified Telecommunication Services* | *Total Diversified Telecommunication Services* | *Total Diversified Telecommunication Services* | *Total Diversified Telecommunication Services* | &nbsp;&nbsp; *26088977* |
| *Entertainment — 0.1%* | *Entertainment — 0.1%* | *Entertainment — 0.1%* | *Entertainment — 0.1%* | *Entertainment — 0.1%* |
| &nbsp;&nbsp;&nbsp; Discovery Global Holdings Inc., Senior Notes | &nbsp;&nbsp; 3.755% | &nbsp;&nbsp; 3/15/27 | &nbsp;&nbsp; 471000<br>| &nbsp;&nbsp;&nbsp; 465485<br>|
| &nbsp;&nbsp;&nbsp; Walt Disney Co., Senior Notes | &nbsp;&nbsp; 6.650% | &nbsp;&nbsp; 11/15/37 | &nbsp;&nbsp; 1660000<br>| &nbsp;&nbsp;&nbsp; 1868823<br>|
| *Total Entertainment* | *Total Entertainment* | *Total Entertainment* | *Total Entertainment* | &nbsp;&nbsp; *2334308* |
| *Interactive Media & Services — 0.9%* | *Interactive Media & Services — 0.9%* | *Interactive Media & Services — 0.9%* | *Interactive Media & Services — 0.9%* | *Interactive Media & Services — 0.9%* |
| &nbsp;&nbsp;&nbsp; Alphabet Inc., Senior Notes | &nbsp;&nbsp; 3.700% | &nbsp;&nbsp; 2/15/29 | &nbsp;&nbsp; 890000<br>| &nbsp;&nbsp;&nbsp; 882537<br>|
| &nbsp;&nbsp;&nbsp; Alphabet Inc., Senior Notes | &nbsp;&nbsp; 4.100% | &nbsp;&nbsp; 2/15/31 | &nbsp;&nbsp; 360000<br>| &nbsp;&nbsp;&nbsp; 357577<br>|
| &nbsp;&nbsp;&nbsp; Alphabet Inc., Senior Notes | &nbsp;&nbsp; 4.400% | &nbsp;&nbsp; 2/15/33 | &nbsp;&nbsp; 240000<br>| &nbsp;&nbsp;&nbsp; 237080<br>|
| &nbsp;&nbsp;&nbsp; Alphabet Inc., Senior Notes | &nbsp;&nbsp; 4.500% | &nbsp;&nbsp; 5/15/35 | &nbsp;&nbsp; 490000<br>| &nbsp;&nbsp;&nbsp; 482130<br>|
| &nbsp;&nbsp;&nbsp; Alphabet Inc., Senior Notes | &nbsp;&nbsp; 4.700% | &nbsp;&nbsp; 11/15/35 | &nbsp;&nbsp; 1130000<br>| &nbsp;&nbsp;&nbsp; 1116860<br>|
| &nbsp;&nbsp;&nbsp; Alphabet Inc., Senior Notes | &nbsp;&nbsp; 4.800% | &nbsp;&nbsp; 2/15/36 | &nbsp;&nbsp; 580000<br>| &nbsp;&nbsp;&nbsp; 577740<br>|
| &nbsp;&nbsp;&nbsp; Alphabet Inc., Senior Notes | &nbsp;&nbsp; 5.350% | &nbsp;&nbsp; 11/15/45 | &nbsp;&nbsp; 240000<br>| &nbsp;&nbsp;&nbsp; 234810<br>|
| &nbsp;&nbsp;&nbsp; Alphabet Inc., Senior Notes | &nbsp;&nbsp; 5.500% | &nbsp;&nbsp; 2/15/46 | &nbsp;&nbsp; 1000000<br>| &nbsp;&nbsp;&nbsp; 992560<br>|
| &nbsp;&nbsp;&nbsp; Alphabet Inc., Senior Notes | &nbsp;&nbsp; 5.250% | &nbsp;&nbsp; 5/15/55 | &nbsp;&nbsp; 660000<br>| &nbsp;&nbsp;&nbsp; 623673<br>|
| &nbsp;&nbsp;&nbsp; Alphabet Inc., Senior Notes | &nbsp;&nbsp; 5.650% | &nbsp;&nbsp; 2/15/56 | &nbsp;&nbsp; 970000<br>| &nbsp;&nbsp;&nbsp; 967573<br>|
| &nbsp;&nbsp;&nbsp; Alphabet Inc., Senior Notes | &nbsp;&nbsp; 5.300% | &nbsp;&nbsp; 5/15/65 | &nbsp;&nbsp; 720000<br>| &nbsp;&nbsp;&nbsp; 667012<br>|
| &nbsp;&nbsp;&nbsp; Meta Platforms Inc., Senior Notes | &nbsp;&nbsp; 4.600% | &nbsp;&nbsp; 11/15/32 | &nbsp;&nbsp; 3360000<br>| &nbsp;&nbsp;&nbsp; 3328172<br>|
| &nbsp;&nbsp;&nbsp; Meta Platforms Inc., Senior Notes | &nbsp;&nbsp; 4.750% | &nbsp;&nbsp; 8/15/34 | &nbsp;&nbsp; 740000<br>| &nbsp;&nbsp;&nbsp; 732207<br>|
| &nbsp;&nbsp;&nbsp; Meta Platforms Inc., Senior Notes | &nbsp;&nbsp; 4.875% | &nbsp;&nbsp; 11/15/35 | &nbsp;&nbsp; 860000<br>| &nbsp;&nbsp;&nbsp; 844038<br>|
| &nbsp;&nbsp;&nbsp; Meta Platforms Inc., Senior Notes | &nbsp;&nbsp; 5.500% | &nbsp;&nbsp; 11/15/45 | &nbsp;&nbsp; 1140000<br>| &nbsp;&nbsp;&nbsp; 1079530<br>|
| &nbsp;&nbsp;&nbsp; Meta Platforms Inc., Senior Notes | &nbsp;&nbsp; 5.625% | &nbsp;&nbsp; 11/15/55 | &nbsp;&nbsp; 960000<br>| &nbsp;&nbsp;&nbsp; 900538<br>|

---

See Notes to Schedule of Investments.

------

Western Asset Core Bond Fund 2026 Quarterly Report

------

Schedule of Investments (unaudited) (cont'd)

March 31, 2026

 **Western Asset Core Bond Fund**

(Percentages shown based on Fund net assets)

---

| | | | | |
|:---|:---|:---|:---|:---|
| Security | Rate | &nbsp;&nbsp; Maturity<br> Date<br>| &nbsp;&nbsp; Face<br> Amount<br>| Value |
| *Interactive Media & Services — continued* | *Interactive Media & Services — continued* | *Interactive Media & Services — continued* | *Interactive Media & Services — continued* | *Interactive Media & Services — continued* |
| &nbsp;&nbsp;&nbsp; Meta Platforms Inc., Senior Notes | &nbsp;&nbsp; 5.750% | &nbsp;&nbsp; 11/15/65 | &nbsp;&nbsp; $1880000<br>| &nbsp;&nbsp;&nbsp; $1747522<br>|
| *Total Interactive Media & Services* | *Total Interactive Media & Services* | *Total Interactive Media & Services* | *Total Interactive Media & Services* | &nbsp;&nbsp; *15771559* |
| *Media — 1.2%* | *Media — 1.2%* | *Media — 1.2%* | *Media — 1.2%* | *Media — 1.2%* |
| &nbsp;&nbsp;&nbsp; Charter Communications Operating LLC/Charter Communications Operating Capital <br> Corp., Senior Secured Notes | &nbsp;&nbsp; 4.200% | &nbsp;&nbsp; 3/15/28 | &nbsp;&nbsp; 1716000<br>| &nbsp;&nbsp;&nbsp; 1701640<br>|
| &nbsp;&nbsp;&nbsp; Charter Communications Operating LLC/Charter Communications Operating Capital <br> Corp., Senior Secured Notes | &nbsp;&nbsp; 5.050% | &nbsp;&nbsp; 3/30/29 | &nbsp;&nbsp; 3097000<br>| &nbsp;&nbsp;&nbsp; 3113288<br>|
| &nbsp;&nbsp;&nbsp; Charter Communications Operating LLC/Charter Communications Operating Capital <br> Corp., Senior Secured Notes | &nbsp;&nbsp; 4.400% | &nbsp;&nbsp; 4/1/33 | &nbsp;&nbsp; 2190000<br>| &nbsp;&nbsp;&nbsp; 2048621<br>|
| &nbsp;&nbsp;&nbsp; Charter Communications Operating LLC/Charter Communications Operating Capital <br> Corp., Senior Secured Notes | &nbsp;&nbsp; 6.550% | &nbsp;&nbsp; 6/1/34 | &nbsp;&nbsp; 800000<br>| &nbsp;&nbsp;&nbsp; 830999<br>|
| &nbsp;&nbsp;&nbsp; Charter Communications Operating LLC/Charter Communications Operating Capital <br> Corp., Senior Secured Notes | &nbsp;&nbsp; 5.375% | &nbsp;&nbsp; 4/1/38 | &nbsp;&nbsp; 1337000<br>| &nbsp;&nbsp;&nbsp; 1199212<br>|
| &nbsp;&nbsp;&nbsp; Charter Communications Operating LLC/Charter Communications Operating Capital <br> Corp., Senior Secured Notes | &nbsp;&nbsp; 6.484% | &nbsp;&nbsp; 10/23/45 | &nbsp;&nbsp; 614000<br>| &nbsp;&nbsp;&nbsp; 566628<br>|
| &nbsp;&nbsp;&nbsp; Charter Communications Operating LLC/Charter Communications Operating Capital <br> Corp., Senior Secured Notes | &nbsp;&nbsp; 5.750% | &nbsp;&nbsp; 4/1/48 | &nbsp;&nbsp; 497000<br>| &nbsp;&nbsp;&nbsp; 414815<br>|
| &nbsp;&nbsp;&nbsp; Comcast Corp., Senior Notes | &nbsp;&nbsp; 4.250% | &nbsp;&nbsp; 10/15/30 | &nbsp;&nbsp; 4017000<br>| &nbsp;&nbsp;&nbsp; 3975123<br>|
| &nbsp;&nbsp;&nbsp; Comcast Corp., Senior Notes | &nbsp;&nbsp; 3.900% | &nbsp;&nbsp; 3/1/38 | &nbsp;&nbsp; 1780000<br>| &nbsp;&nbsp;&nbsp; 1529606<br>|
| &nbsp;&nbsp;&nbsp; Comcast Corp., Senior Notes | &nbsp;&nbsp; 3.750% | &nbsp;&nbsp; 4/1/40 | &nbsp;&nbsp; 1780000<br>| &nbsp;&nbsp;&nbsp; 1444071<br>|
| &nbsp;&nbsp;&nbsp; Fox Corp., Senior Notes | &nbsp;&nbsp; 5.476% | &nbsp;&nbsp; 1/25/39 | &nbsp;&nbsp; 1170000<br>| &nbsp;&nbsp;&nbsp; 1132369<br>|
| &nbsp;&nbsp;&nbsp; Time Warner Cable LLC, Senior Secured Notes | &nbsp;&nbsp; 6.550% | &nbsp;&nbsp; 5/1/37 | &nbsp;&nbsp; 1091000<br>| &nbsp;&nbsp;&nbsp; 1100793<br>|
| &nbsp;&nbsp;&nbsp; Time Warner Cable LLC, Senior Secured Notes | &nbsp;&nbsp; 7.300% | &nbsp;&nbsp; 7/1/38 | &nbsp;&nbsp; 403000<br>| &nbsp;&nbsp;&nbsp; 421984<br>|
| &nbsp;&nbsp;&nbsp; Time Warner Cable LLC, Senior Secured Notes | &nbsp;&nbsp; 6.750% | &nbsp;&nbsp; 6/15/39 | &nbsp;&nbsp; 985000<br>| &nbsp;&nbsp;&nbsp; 978193<br>|
| &nbsp;&nbsp;&nbsp; Time Warner Cable LLC, Senior Secured Notes | &nbsp;&nbsp; 5.875% | &nbsp;&nbsp; 11/15/40 | &nbsp;&nbsp; 1008000<br>| &nbsp;&nbsp;&nbsp; 914330<br>|
| &nbsp;&nbsp;&nbsp; Time Warner Cable LLC, Senior Secured Notes | &nbsp;&nbsp; 5.500% | &nbsp;&nbsp; 9/1/41 | &nbsp;&nbsp; 18000<br>| &nbsp;&nbsp;&nbsp; 15528<br>|
| *Total Media* | *Total Media* | *Total Media* | *Total Media* | &nbsp;&nbsp; *21387200* |
| *Wireless Telecommunication Services — 0.8%* | *Wireless Telecommunication Services — 0.8%* | *Wireless Telecommunication Services — 0.8%* | *Wireless Telecommunication Services — 0.8%* | *Wireless Telecommunication Services — 0.8%* |
| &nbsp;&nbsp;&nbsp; T-Mobile USA Inc., Senior Notes | &nbsp;&nbsp; 3.750% | &nbsp;&nbsp; 4/15/27 | &nbsp;&nbsp; 1330000<br>| &nbsp;&nbsp;&nbsp; 1322019<br>|
| &nbsp;&nbsp;&nbsp; T-Mobile USA Inc., Senior Notes | &nbsp;&nbsp; 3.875% | &nbsp;&nbsp; 4/15/30 | &nbsp;&nbsp; 4180000<br>| &nbsp;&nbsp;&nbsp; 4071914<br>|
| &nbsp;&nbsp;&nbsp; T-Mobile USA Inc., Senior Notes | &nbsp;&nbsp; 2.250% | &nbsp;&nbsp; 11/15/31 | &nbsp;&nbsp; 4130000<br>| &nbsp;&nbsp;&nbsp; 3631285<br>|
| &nbsp;&nbsp;&nbsp; T-Mobile USA Inc., Senior Notes | &nbsp;&nbsp; 5.150% | &nbsp;&nbsp; 4/15/34 | &nbsp;&nbsp; 2170000<br>| &nbsp;&nbsp;&nbsp; 2187104<br>|
| &nbsp;&nbsp;&nbsp; T-Mobile USA Inc., Senior Notes | &nbsp;&nbsp; 4.375% | &nbsp;&nbsp; 4/15/40 | &nbsp;&nbsp; 1090000<br>| &nbsp;&nbsp;&nbsp; 958712<br>|
| &nbsp;&nbsp;&nbsp; T-Mobile USA Inc., Senior Notes | &nbsp;&nbsp; 3.000% | &nbsp;&nbsp; 2/15/41 | &nbsp;&nbsp; 300000<br>| &nbsp;&nbsp;&nbsp; 219483<br>|
| &nbsp;&nbsp;&nbsp; T-Mobile USA Inc., Senior Notes | &nbsp;&nbsp; 3.300% | &nbsp;&nbsp; 2/15/51 | &nbsp;&nbsp; 10000<br>| &nbsp;&nbsp;&nbsp; 6551<br>|
| &nbsp;&nbsp;&nbsp; T-Mobile USA Inc., Senior Notes | &nbsp;&nbsp; 5.875% | &nbsp;&nbsp; 11/15/55 | &nbsp;&nbsp; 930000<br>| &nbsp;&nbsp;&nbsp; 907519<br>|
| *Total Wireless Telecommunication Services* | *Total Wireless Telecommunication Services* | *Total Wireless Telecommunication Services* | *Total Wireless Telecommunication Services* | &nbsp;&nbsp; *13304587* |
| **Total Communication Services** | **Total Communication Services** | **Total Communication Services** | **Total Communication Services** | &nbsp;&nbsp; **78886631** |
| **Consumer Discretionary — 2.4%** | **Consumer Discretionary — 2.4%** | **Consumer Discretionary — 2.4%** | **Consumer Discretionary — 2.4%** | **Consumer Discretionary — 2.4%** |
| *Automobiles — 0.1%* | *Automobiles — 0.1%* | *Automobiles — 0.1%* | *Automobiles — 0.1%* | *Automobiles — 0.1%* |
| &nbsp;&nbsp;&nbsp; Ford Motor Co., Senior Notes | &nbsp;&nbsp; 6.100% | &nbsp;&nbsp; 8/19/32 | &nbsp;&nbsp; 1020000<br>| &nbsp;&nbsp;&nbsp; 1028988<br>|
| &nbsp;&nbsp;&nbsp; General Motors Co., Senior Notes | &nbsp;&nbsp; 5.600% | &nbsp;&nbsp; 10/15/32 | &nbsp;&nbsp; 790000<br>| &nbsp;&nbsp;&nbsp; 809161<br>|
| &nbsp;&nbsp;&nbsp; General Motors Financial Co. Inc., Senior Notes | &nbsp;&nbsp; 4.350% | &nbsp;&nbsp; 1/17/27 | &nbsp;&nbsp; 539000<br>| &nbsp;&nbsp;&nbsp; 538344<br>|
| *Total Automobiles* | *Total Automobiles* | *Total Automobiles* | *Total Automobiles* | &nbsp;&nbsp; *2376493* |
| *Broadline Retail — 0.7%* | *Broadline Retail — 0.7%* | *Broadline Retail — 0.7%* | *Broadline Retail — 0.7%* | *Broadline Retail — 0.7%* |
| &nbsp;&nbsp;&nbsp; Amazon.com Inc., Senior Notes | &nbsp;&nbsp; 4.100% | &nbsp;&nbsp; 11/20/30 | &nbsp;&nbsp; 2910000<br>| &nbsp;&nbsp;&nbsp; 2877104<br>|
| &nbsp;&nbsp;&nbsp; Amazon.com Inc., Senior Notes | &nbsp;&nbsp; 4.250% | &nbsp;&nbsp; 3/13/31 | &nbsp;&nbsp; 600000<br>| &nbsp;&nbsp;&nbsp; 595713<br>|

---

See Notes to Schedule of Investments.

------

Western Asset Core Bond Fund 2026 Quarterly Report

------

 **Western Asset Core Bond Fund**

(Percentages shown based on Fund net assets)

---

| | | | | |
|:---|:---|:---|:---|:---|
| Security | Rate | &nbsp;&nbsp; Maturity<br> Date<br>| &nbsp;&nbsp; Face<br> Amount<br>| Value |
| *Broadline Retail — continued* | *Broadline Retail — continued* | *Broadline Retail — continued* | *Broadline Retail — continued* | *Broadline Retail — continued* |
| &nbsp;&nbsp;&nbsp; Amazon.com Inc., Senior Notes | &nbsp;&nbsp; 4.550% | &nbsp;&nbsp; 3/13/33 | &nbsp;&nbsp; $570000<br>| &nbsp;&nbsp;&nbsp; $564680<br>|
| &nbsp;&nbsp;&nbsp; Amazon.com Inc., Senior Notes | &nbsp;&nbsp; 4.350% | &nbsp;&nbsp; 3/20/33 | &nbsp;&nbsp; 680000<br>| &nbsp;&nbsp;&nbsp; 667898<br>|
| &nbsp;&nbsp;&nbsp; Amazon.com Inc., Senior Notes | &nbsp;&nbsp; 4.650% | &nbsp;&nbsp; 11/20/35 | &nbsp;&nbsp; 860000<br>| &nbsp;&nbsp;&nbsp; 843595<br>|
| &nbsp;&nbsp;&nbsp; Amazon.com Inc., Senior Notes | &nbsp;&nbsp; 4.875% | &nbsp;&nbsp; 3/13/36 | &nbsp;&nbsp; 610000<br>| &nbsp;&nbsp;&nbsp; 604676<br>|
| &nbsp;&nbsp;&nbsp; Amazon.com Inc., Senior Notes | &nbsp;&nbsp; 3.875% | &nbsp;&nbsp; 8/22/37 | &nbsp;&nbsp; 1185000<br>| &nbsp;&nbsp;&nbsp; 1067046<br>|
| &nbsp;&nbsp;&nbsp; Amazon.com Inc., Senior Notes | &nbsp;&nbsp; 5.650% | &nbsp;&nbsp; 3/13/46 | &nbsp;&nbsp; 630000<br>| &nbsp;&nbsp;&nbsp; 628193<br>|
| &nbsp;&nbsp;&nbsp; Amazon.com Inc., Senior Notes | &nbsp;&nbsp; 5.800% | &nbsp;&nbsp; 3/13/56 | &nbsp;&nbsp; 510000<br>| &nbsp;&nbsp;&nbsp; 509950<br>|
| &nbsp;&nbsp;&nbsp; Amazon.com Inc., Senior Notes | &nbsp;&nbsp; 5.950% | &nbsp;&nbsp; 3/13/66 | &nbsp;&nbsp; 860000<br>| &nbsp;&nbsp;&nbsp; 863474<br>|
| &nbsp;&nbsp;&nbsp; Prosus NV, Senior Notes | &nbsp;&nbsp; 4.027% | &nbsp;&nbsp; 8/3/50 | &nbsp;&nbsp; 5510000<br>| &nbsp;&nbsp;&nbsp; 3694005<br> <sup>(a)</sup><br>|
| *Total Broadline Retail* | *Total Broadline Retail* | *Total Broadline Retail* | *Total Broadline Retail* | &nbsp;&nbsp; *12916334* |
| *Hotels, Restaurants & Leisure — 1.4%* | *Hotels, Restaurants & Leisure — 1.4%* | *Hotels, Restaurants & Leisure — 1.4%* | *Hotels, Restaurants & Leisure — 1.4%* | *Hotels, Restaurants & Leisure — 1.4%* |
| &nbsp;&nbsp;&nbsp; Las Vegas Sands Corp., Senior Notes | &nbsp;&nbsp; 5.625% | &nbsp;&nbsp; 6/15/28 | &nbsp;&nbsp; 2330000<br>| &nbsp;&nbsp;&nbsp; 2360804<br>|
| &nbsp;&nbsp;&nbsp; Las Vegas Sands Corp., Senior Notes | &nbsp;&nbsp; 6.000% | &nbsp;&nbsp; 8/15/29 | &nbsp;&nbsp; 1950000<br>| &nbsp;&nbsp;&nbsp; 2004708<br>|
| &nbsp;&nbsp;&nbsp; Las Vegas Sands Corp., Senior Notes | &nbsp;&nbsp; 6.000% | &nbsp;&nbsp; 6/14/30 | &nbsp;&nbsp; 530000<br>| &nbsp;&nbsp;&nbsp; 545393<br>|
| &nbsp;&nbsp;&nbsp; McDonald's Corp., Senior Notes | &nbsp;&nbsp; 3.600% | &nbsp;&nbsp; 7/1/30 | &nbsp;&nbsp; 30000<br>| &nbsp;&nbsp;&nbsp; 29160<br>|
| &nbsp;&nbsp;&nbsp; McDonald's Corp., Senior Notes | &nbsp;&nbsp; 4.200% | &nbsp;&nbsp; 4/1/50 | &nbsp;&nbsp; 2880000<br>| &nbsp;&nbsp;&nbsp; 2271783<br>|
| &nbsp;&nbsp;&nbsp; Royal Caribbean Cruises Ltd., Senior Notes | &nbsp;&nbsp; 5.625% | &nbsp;&nbsp; 9/30/31 | &nbsp;&nbsp; 1590000<br>| &nbsp;&nbsp;&nbsp; 1606064<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Royal Caribbean Cruises Ltd., Senior Notes | &nbsp;&nbsp; 6.000% | &nbsp;&nbsp; 2/1/33 | &nbsp;&nbsp; 1370000<br>| &nbsp;&nbsp;&nbsp; 1384025<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Royal Caribbean Cruises Ltd., Senior Notes | &nbsp;&nbsp; 4.750% | &nbsp;&nbsp; 5/15/33 | &nbsp;&nbsp; 770000<br>| &nbsp;&nbsp;&nbsp; 743703<br>|
| &nbsp;&nbsp;&nbsp; Royal Caribbean Cruises Ltd., Senior Notes | &nbsp;&nbsp; 5.250% | &nbsp;&nbsp; 2/27/38 | &nbsp;&nbsp; 370000<br>| &nbsp;&nbsp;&nbsp; 352139<br>|
| &nbsp;&nbsp;&nbsp; Sands China Ltd., Senior Notes | &nbsp;&nbsp; 5.400% | &nbsp;&nbsp; 8/8/28 | &nbsp;&nbsp; 5145000<br>| &nbsp;&nbsp;&nbsp; 5186767<br>|
| &nbsp;&nbsp;&nbsp; Sands China Ltd., Senior Notes | &nbsp;&nbsp; 2.850% | &nbsp;&nbsp; 3/8/29 | &nbsp;&nbsp; 4690000<br>| &nbsp;&nbsp;&nbsp; 4419326<br>|
| &nbsp;&nbsp;&nbsp; Sands China Ltd., Senior Notes | &nbsp;&nbsp; 4.375% | &nbsp;&nbsp; 6/18/30 | &nbsp;&nbsp; 4520000<br>| &nbsp;&nbsp;&nbsp; 4364417<br>|
| *Total Hotels, Restaurants & Leisure* | *Total Hotels, Restaurants & Leisure* | *Total Hotels, Restaurants & Leisure* | *Total Hotels, Restaurants & Leisure* | &nbsp;&nbsp; *25268289* |
| *Specialty Retail — 0.2%* | *Specialty Retail — 0.2%* | *Specialty Retail — 0.2%* | *Specialty Retail — 0.2%* | *Specialty Retail — 0.2%* |
| &nbsp;&nbsp;&nbsp; Home Depot Inc., Senior Notes | &nbsp;&nbsp; 2.700% | &nbsp;&nbsp; 4/15/30 | &nbsp;&nbsp; 1370000<br>| &nbsp;&nbsp;&nbsp; 1289301<br>|
| &nbsp;&nbsp;&nbsp; Home Depot Inc., Senior Notes | &nbsp;&nbsp; 3.300% | &nbsp;&nbsp; 4/15/40 | &nbsp;&nbsp; 910000<br>| &nbsp;&nbsp;&nbsp; 727659<br>|
| &nbsp;&nbsp;&nbsp; Lowe's Cos. Inc., Senior Notes | &nbsp;&nbsp; 4.500% | &nbsp;&nbsp; 4/15/30 | &nbsp;&nbsp; 530000<br>| &nbsp;&nbsp;&nbsp; 530710<br>|
| *Total Specialty Retail* | *Total Specialty Retail* | *Total Specialty Retail* | *Total Specialty Retail* | &nbsp;&nbsp; *2547670* |
| **Total Consumer Discretionary** | **Total Consumer Discretionary** | **Total Consumer Discretionary** | **Total Consumer Discretionary** | &nbsp;&nbsp; **43108786** |
| **Consumer Staples — 1.2%** | **Consumer Staples — 1.2%** | **Consumer Staples — 1.2%** | **Consumer Staples — 1.2%** | **Consumer Staples — 1.2%** |
| *Beverages — 0.1%* | *Beverages — 0.1%* | *Beverages — 0.1%* | *Beverages — 0.1%* | *Beverages — 0.1%* |
| &nbsp;&nbsp;&nbsp; Anheuser-Busch Cos. LLC/Anheuser-Busch InBev Worldwide Inc., Senior Notes | &nbsp;&nbsp; 4.900% | &nbsp;&nbsp; 2/1/46 | &nbsp;&nbsp; 1945000<br>| &nbsp;&nbsp;&nbsp; *1753888*<br>|
| *Consumer Staples Distribution & Retail — 0.1%* | *Consumer Staples Distribution & Retail — 0.1%* | *Consumer Staples Distribution & Retail — 0.1%* | *Consumer Staples Distribution & Retail — 0.1%* | *Consumer Staples Distribution & Retail — 0.1%* |
| &nbsp;&nbsp;&nbsp; Kroger Co., Senior Notes | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 9/15/34 | &nbsp;&nbsp; 1090000<br>| &nbsp;&nbsp;&nbsp; *1076592*<br>|
| *Food Products — 0.3%* | *Food Products — 0.3%* | *Food Products — 0.3%* | *Food Products — 0.3%* | *Food Products — 0.3%* |
| &nbsp;&nbsp;&nbsp; JBS NV/JBS USA Foods Group Holdings Inc./JBS USA Food Co. Holdings, Senior <br> Notes | &nbsp;&nbsp; 5.625% | &nbsp;&nbsp; 3/10/37 | &nbsp;&nbsp; 1060000<br>| &nbsp;&nbsp;&nbsp; 1063980<br> <sup>(a)(b)</sup><br>|
| &nbsp;&nbsp;&nbsp; Mars Inc., Senior Notes | &nbsp;&nbsp; 3.200% | &nbsp;&nbsp; 4/1/30 | &nbsp;&nbsp; 178000<br>| &nbsp;&nbsp;&nbsp; 169886<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Mars Inc., Senior Notes | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 3/1/32 | &nbsp;&nbsp; 390000<br>| &nbsp;&nbsp;&nbsp; 394733<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Mars Inc., Senior Notes | &nbsp;&nbsp; 5.200% | &nbsp;&nbsp; 3/1/35 | &nbsp;&nbsp; 910000<br>| &nbsp;&nbsp;&nbsp; 918994<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Mars Inc., Senior Notes | &nbsp;&nbsp; 5.700% | &nbsp;&nbsp; 5/1/55 | &nbsp;&nbsp; 2860000<br>| &nbsp;&nbsp;&nbsp; 2790652<br> <sup>(a)</sup><br>|
| *Total Food Products* | *Total Food Products* | *Total Food Products* | *Total Food Products* | &nbsp;&nbsp; *5338245* |
| *Personal Care Products — 0.0%††* | *Personal Care Products — 0.0%††* | *Personal Care Products — 0.0%††* | *Personal Care Products — 0.0%††* | *Personal Care Products — 0.0%††* |
| &nbsp;&nbsp;&nbsp; Kenvue Inc., Senior Notes | &nbsp;&nbsp; 4.900% | &nbsp;&nbsp; 3/22/33 | &nbsp;&nbsp; 390000<br>| &nbsp;&nbsp;&nbsp; *393250*<br>|

---

See Notes to Schedule of Investments.

------

Western Asset Core Bond Fund 2026 Quarterly Report

------

Schedule of Investments (unaudited) (cont'd)

March 31, 2026

 **Western Asset Core Bond Fund**

(Percentages shown based on Fund net assets)

---

| | | | | |
|:---|:---|:---|:---|:---|
| Security | Rate | &nbsp;&nbsp; Maturity<br> Date<br>| &nbsp;&nbsp; Face<br> Amount<br>| Value |
| *Tobacco — 0.7%* | *Tobacco — 0.7%* | *Tobacco — 0.7%* | *Tobacco — 0.7%* | *Tobacco — 0.7%* |
| &nbsp;&nbsp;&nbsp; Altria Group Inc., Senior Notes | &nbsp;&nbsp; 4.800% | &nbsp;&nbsp; 2/14/29 | &nbsp;&nbsp; $1309000<br>| &nbsp;&nbsp;&nbsp; $1319931<br>|
| &nbsp;&nbsp;&nbsp; Altria Group Inc., Senior Notes | &nbsp;&nbsp; 6.875% | &nbsp;&nbsp; 11/1/33 | &nbsp;&nbsp; 2860000<br>| &nbsp;&nbsp;&nbsp; 3168607<br>|
| &nbsp;&nbsp;&nbsp; Altria Group Inc., Senior Notes | &nbsp;&nbsp; 5.800% | &nbsp;&nbsp; 2/14/39 | &nbsp;&nbsp; 505000<br>| &nbsp;&nbsp;&nbsp; 507243<br>|
| &nbsp;&nbsp;&nbsp; Altria Group Inc., Senior Notes | &nbsp;&nbsp; 5.950% | &nbsp;&nbsp; 2/14/49 | &nbsp;&nbsp; 44000<br>| &nbsp;&nbsp;&nbsp; 42690<br>|
| &nbsp;&nbsp;&nbsp; BAT Capital Corp., Senior Notes | &nbsp;&nbsp; 3.557% | &nbsp;&nbsp; 8/15/27 | &nbsp;&nbsp; 325000<br>| &nbsp;&nbsp;&nbsp; 321539<br>|
| &nbsp;&nbsp;&nbsp; BAT Capital Corp., Senior Notes | &nbsp;&nbsp; 2.259% | &nbsp;&nbsp; 3/25/28 | &nbsp;&nbsp; 1730000<br>| &nbsp;&nbsp;&nbsp; 1661137<br>|
| &nbsp;&nbsp;&nbsp; BAT Capital Corp., Senior Notes | &nbsp;&nbsp; 4.540% | &nbsp;&nbsp; 8/15/47 | &nbsp;&nbsp; 837000<br>| &nbsp;&nbsp;&nbsp; 680171<br>|
| &nbsp;&nbsp;&nbsp; BAT Capital Corp., Senior Notes | &nbsp;&nbsp; 7.081% | &nbsp;&nbsp; 8/2/53 | &nbsp;&nbsp; 280000<br>| &nbsp;&nbsp;&nbsp; 309697<br>|
| &nbsp;&nbsp;&nbsp; BAT Capital Corp., Senior Notes | &nbsp;&nbsp; 6.250% | &nbsp;&nbsp; 8/15/55 | &nbsp;&nbsp; 610000<br>| &nbsp;&nbsp;&nbsp; 617606<br>|
| &nbsp;&nbsp;&nbsp; Philip Morris International Inc., Senior Notes | &nbsp;&nbsp; 4.875% | &nbsp;&nbsp; 2/13/29 | &nbsp;&nbsp; 970000<br>| &nbsp;&nbsp;&nbsp; 984623<br>|
| &nbsp;&nbsp;&nbsp; Philip Morris International Inc., Senior Notes | &nbsp;&nbsp; 5.125% | &nbsp;&nbsp; 2/13/31 | &nbsp;&nbsp; 910000<br>| &nbsp;&nbsp;&nbsp; 931466<br>|
| &nbsp;&nbsp;&nbsp; Philip Morris International Inc., Senior Notes | &nbsp;&nbsp; 5.250% | &nbsp;&nbsp; 2/13/34 | &nbsp;&nbsp; 1340000<br>| &nbsp;&nbsp;&nbsp; 1365111<br>|
| &nbsp;&nbsp;&nbsp; Philip Morris International Inc., Senior Notes | &nbsp;&nbsp; 4.500% | &nbsp;&nbsp; 3/20/42 | &nbsp;&nbsp; 296000<br>| &nbsp;&nbsp;&nbsp; 258972<br>|
| &nbsp;&nbsp;&nbsp; Reynolds American Inc., Senior Notes | &nbsp;&nbsp; 6.150% | &nbsp;&nbsp; 9/15/43 | &nbsp;&nbsp; 300000<br>| &nbsp;&nbsp;&nbsp; 302412<br>|
| &nbsp;&nbsp;&nbsp; Reynolds American Inc., Senior Notes | &nbsp;&nbsp; 5.850% | &nbsp;&nbsp; 8/15/45 | &nbsp;&nbsp; 910000<br>| &nbsp;&nbsp;&nbsp; 881867<br>|
| *Total Tobacco* | *Total Tobacco* | *Total Tobacco* | *Total Tobacco* | &nbsp;&nbsp; *13353072* |
| **Total Consumer Staples** | **Total Consumer Staples** | **Total Consumer Staples** | **Total Consumer Staples** | &nbsp;&nbsp; **21915047** |
| **Energy — 4.7%** | **Energy — 4.7%** | **Energy — 4.7%** | **Energy — 4.7%** | **Energy — 4.7%** |
| *Oil, Gas & Consumable Fuels — 4.7%* | *Oil, Gas & Consumable Fuels — 4.7%* | *Oil, Gas & Consumable Fuels — 4.7%* | *Oil, Gas & Consumable Fuels — 4.7%* | *Oil, Gas & Consumable Fuels — 4.7%* |
| &nbsp;&nbsp;&nbsp; BP Capital Markets America Inc., Senior Notes | &nbsp;&nbsp; 3.633% | &nbsp;&nbsp; 4/6/30 | &nbsp;&nbsp; 1060000<br>| &nbsp;&nbsp;&nbsp; 1031324<br>|
| &nbsp;&nbsp;&nbsp; BP Capital Markets America Inc., Senior Notes | &nbsp;&nbsp; 3.000% | &nbsp;&nbsp; 2/24/50 | &nbsp;&nbsp; 490000<br>| &nbsp;&nbsp;&nbsp; 315242<br>|
| &nbsp;&nbsp;&nbsp; Cameron LNG LLC, Senior Secured Notes | &nbsp;&nbsp; 2.902% | &nbsp;&nbsp; 7/15/31 | &nbsp;&nbsp; 1340000<br>| &nbsp;&nbsp;&nbsp; 1227696<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Cameron LNG LLC, Senior Secured Notes | &nbsp;&nbsp; 3.302% | &nbsp;&nbsp; 1/15/35 | &nbsp;&nbsp; 1760000<br>| &nbsp;&nbsp;&nbsp; 1531506<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Cheniere Energy Partners LP, Senior Notes | &nbsp;&nbsp; 5.550% | &nbsp;&nbsp; 10/30/35 | &nbsp;&nbsp; 1050000<br>| &nbsp;&nbsp;&nbsp; 1069713<br>|
| &nbsp;&nbsp;&nbsp; Columbia Pipelines Operating Co. LLC, Senior Notes | &nbsp;&nbsp; 6.036% | &nbsp;&nbsp; 11/15/33 | &nbsp;&nbsp; 1040000<br>| &nbsp;&nbsp;&nbsp; 1096271<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Continental Resources Inc., Senior Notes | &nbsp;&nbsp; 4.375% | &nbsp;&nbsp; 1/15/28 | &nbsp;&nbsp; 1105000<br>| &nbsp;&nbsp;&nbsp; 1097893<br>|
| &nbsp;&nbsp;&nbsp; Coterra Energy Inc., Senior Notes | &nbsp;&nbsp; 3.900% | &nbsp;&nbsp; 5/15/27 | &nbsp;&nbsp; 1209000<br>| &nbsp;&nbsp;&nbsp; 1200690<br>|
| &nbsp;&nbsp;&nbsp; Coterra Energy Inc., Senior Notes | &nbsp;&nbsp; 4.375% | &nbsp;&nbsp; 3/15/29 | &nbsp;&nbsp; 2150000<br>| &nbsp;&nbsp;&nbsp; 2142483<br>|
| &nbsp;&nbsp;&nbsp; Devon Energy Corp., Senior Notes | &nbsp;&nbsp; 5.250% | &nbsp;&nbsp; 10/15/27 | &nbsp;&nbsp; 196000<br>| &nbsp;&nbsp;&nbsp; 196078<br>|
| &nbsp;&nbsp;&nbsp; Devon Energy Corp., Senior Notes | &nbsp;&nbsp; 5.600% | &nbsp;&nbsp; 7/15/41 | &nbsp;&nbsp; 810000<br>| &nbsp;&nbsp;&nbsp; 784396<br>|
| &nbsp;&nbsp;&nbsp; Devon Energy Corp., Senior Notes | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 6/15/45 | &nbsp;&nbsp; 248000<br>| &nbsp;&nbsp;&nbsp; 217966<br>|
| &nbsp;&nbsp;&nbsp; Ecopetrol SA, Senior Notes | &nbsp;&nbsp; 5.875% | &nbsp;&nbsp; 5/28/45 | &nbsp;&nbsp; 5355000<br>| &nbsp;&nbsp;&nbsp; 3946905<br>|
| &nbsp;&nbsp;&nbsp; El Paso Natural Gas Co. LLC, Senior Notes | &nbsp;&nbsp; 8.375% | &nbsp;&nbsp; 6/15/32 | &nbsp;&nbsp; 1036000<br>| &nbsp;&nbsp;&nbsp; 1215388<br>|
| &nbsp;&nbsp;&nbsp; Energy Transfer LP, Senior Notes | &nbsp;&nbsp; 5.500% | &nbsp;&nbsp; 6/1/27 | &nbsp;&nbsp; 2090000<br>| &nbsp;&nbsp;&nbsp; 2109805<br>|
| &nbsp;&nbsp;&nbsp; Energy Transfer LP, Senior Notes | &nbsp;&nbsp; 3.750% | &nbsp;&nbsp; 5/15/30 | &nbsp;&nbsp; 1428000<br>| &nbsp;&nbsp;&nbsp; 1380860<br>|
| &nbsp;&nbsp;&nbsp; Energy Transfer LP, Senior Notes | &nbsp;&nbsp; 5.550% | &nbsp;&nbsp; 5/15/34 | &nbsp;&nbsp; 1780000<br>| &nbsp;&nbsp;&nbsp; 1813136<br>|
| &nbsp;&nbsp;&nbsp; Energy Transfer LP, Senior Notes | &nbsp;&nbsp; 5.400% | &nbsp;&nbsp; 10/1/47 | &nbsp;&nbsp; 671000<br>| &nbsp;&nbsp;&nbsp; 596873<br>|
| &nbsp;&nbsp;&nbsp; Energy Transfer LP, Senior Notes | &nbsp;&nbsp; 6.250% | &nbsp;&nbsp; 4/15/49 | &nbsp;&nbsp; 412000<br>| &nbsp;&nbsp;&nbsp; 404371<br>|
| &nbsp;&nbsp;&nbsp; Enterprise Products Operating LLC, Senior Notes | &nbsp;&nbsp; 4.150% | &nbsp;&nbsp; 10/16/28 | &nbsp;&nbsp; 1706000<br>| &nbsp;&nbsp;&nbsp; 1702934<br>|
| &nbsp;&nbsp;&nbsp; Enterprise Products Operating LLC, Senior Notes | &nbsp;&nbsp; 4.850% | &nbsp;&nbsp; 1/31/34 | &nbsp;&nbsp; 680000<br>| &nbsp;&nbsp;&nbsp; 678957<br>|
| &nbsp;&nbsp;&nbsp; Enterprise Products Operating LLC, Senior Notes | &nbsp;&nbsp; 6.650% | &nbsp;&nbsp; 10/15/34 | &nbsp;&nbsp; 2000000<br>| &nbsp;&nbsp;&nbsp; 2218895<br>|
| &nbsp;&nbsp;&nbsp; Enterprise Products Operating LLC, Senior Notes | &nbsp;&nbsp; 7.550% | &nbsp;&nbsp; 4/15/38 | &nbsp;&nbsp; 360000<br>| &nbsp;&nbsp;&nbsp; 427896<br>|
| &nbsp;&nbsp;&nbsp; Enterprise Products Operating LLC, Senior Notes | &nbsp;&nbsp; 4.800% | &nbsp;&nbsp; 2/1/49 | &nbsp;&nbsp; 1320000<br>| &nbsp;&nbsp;&nbsp; 1150889<br>|
| &nbsp;&nbsp;&nbsp; EOG Resources Inc., Senior Notes | &nbsp;&nbsp; 3.900% | &nbsp;&nbsp; 4/1/35 | &nbsp;&nbsp; 410000<br>| &nbsp;&nbsp;&nbsp; 377410<br>|
| &nbsp;&nbsp;&nbsp; EQT Corp., Senior Notes | &nbsp;&nbsp; 7.000% | &nbsp;&nbsp; 2/1/30 | &nbsp;&nbsp; 2160000<br>| &nbsp;&nbsp;&nbsp; 2311675<br>|
| &nbsp;&nbsp;&nbsp; Exxon Mobil Corp., Senior Notes | &nbsp;&nbsp; 3.452% | &nbsp;&nbsp; 4/15/51 | &nbsp;&nbsp; 590000<br>| &nbsp;&nbsp;&nbsp; 420629<br>|

---

See Notes to Schedule of Investments.

------

Western Asset Core Bond Fund 2026 Quarterly Report

------

 **Western Asset Core Bond Fund**

(Percentages shown based on Fund net assets)

---

| | | | | |
|:---|:---|:---|:---|:---|
| Security | Rate | &nbsp;&nbsp; Maturity<br> Date<br>| &nbsp;&nbsp; Face<br> Amount<br>| Value |
| *Oil, Gas & Consumable Fuels — continued* | *Oil, Gas & Consumable Fuels — continued* | *Oil, Gas & Consumable Fuels — continued* | *Oil, Gas & Consumable Fuels — continued* | *Oil, Gas & Consumable Fuels — continued* |
| &nbsp;&nbsp;&nbsp; Florida Gas Transmission Co. LLC, Senior Notes | &nbsp;&nbsp; 5.750% | &nbsp;&nbsp; 7/15/35 | &nbsp;&nbsp; $1690000<br>| &nbsp;&nbsp;&nbsp; $1734764<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Gulfstream Natural Gas System LLC, Senior Notes | &nbsp;&nbsp; 5.600% | &nbsp;&nbsp; 7/23/35 | &nbsp;&nbsp; 2460000<br>| &nbsp;&nbsp;&nbsp; 2494667<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; KazMunayGas National Co. JSC, Senior Notes | &nbsp;&nbsp; 5.750% | &nbsp;&nbsp; 4/19/47 | &nbsp;&nbsp; 11173000<br>| &nbsp;&nbsp;&nbsp; 10414367<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Kinder Morgan Energy Partners LP, Senior Notes | &nbsp;&nbsp; 7.300% | &nbsp;&nbsp; 8/15/33 | &nbsp;&nbsp; 110000<br>| &nbsp;&nbsp;&nbsp; 124241<br>|
| &nbsp;&nbsp;&nbsp; Kinder Morgan Energy Partners LP, Senior Notes | &nbsp;&nbsp; 6.550% | &nbsp;&nbsp; 9/15/40 | &nbsp;&nbsp; 620000<br>| &nbsp;&nbsp;&nbsp; 664514<br>|
| &nbsp;&nbsp;&nbsp; Kinder Morgan Inc., Senior Notes | &nbsp;&nbsp; 4.300% | &nbsp;&nbsp; 3/1/28 | &nbsp;&nbsp; 2690000<br>| &nbsp;&nbsp;&nbsp; 2687642<br>|
| &nbsp;&nbsp;&nbsp; MPLX LP, Senior Notes | &nbsp;&nbsp; 4.800% | &nbsp;&nbsp; 2/15/29 | &nbsp;&nbsp; 574000<br>| &nbsp;&nbsp;&nbsp; 578889<br>|
| &nbsp;&nbsp;&nbsp; MPLX LP, Senior Notes | &nbsp;&nbsp; 4.500% | &nbsp;&nbsp; 4/15/38 | &nbsp;&nbsp; 388000<br>| &nbsp;&nbsp;&nbsp; 348840<br>|
| &nbsp;&nbsp;&nbsp; MPLX LP, Senior Notes | &nbsp;&nbsp; 5.200% | &nbsp;&nbsp; 3/1/47 | &nbsp;&nbsp; 740000<br>| &nbsp;&nbsp;&nbsp; 654969<br>|
| &nbsp;&nbsp;&nbsp; Occidental Petroleum Corp., Senior Notes | &nbsp;&nbsp; 3.200% | &nbsp;&nbsp; 8/15/26 | &nbsp;&nbsp; 1830000<br>| &nbsp;&nbsp;&nbsp; 1821520<br>|
| &nbsp;&nbsp;&nbsp; Occidental Petroleum Corp., Senior Notes | &nbsp;&nbsp; 3.000% | &nbsp;&nbsp; 2/15/27 | &nbsp;&nbsp; 1417000<br>| &nbsp;&nbsp;&nbsp; 1400479<br>|
| &nbsp;&nbsp;&nbsp; Occidental Petroleum Corp., Senior Notes | &nbsp;&nbsp; 3.500% | &nbsp;&nbsp; 8/15/29 | &nbsp;&nbsp; 2109000<br>| &nbsp;&nbsp;&nbsp; 2022700<br>|
| &nbsp;&nbsp;&nbsp; Occidental Petroleum Corp., Senior Notes | &nbsp;&nbsp; 7.875% | &nbsp;&nbsp; 9/15/31 | &nbsp;&nbsp; 1960000<br>| &nbsp;&nbsp;&nbsp; 2230831<br>|
| &nbsp;&nbsp;&nbsp; Occidental Petroleum Corp., Senior Notes | &nbsp;&nbsp; 6.200% | &nbsp;&nbsp; 3/15/40 | &nbsp;&nbsp; 576000<br>| &nbsp;&nbsp;&nbsp; 588706<br>|
| &nbsp;&nbsp;&nbsp; ONEOK Inc., Senior Notes | &nbsp;&nbsp; 5.550% | &nbsp;&nbsp; 11/1/26 | &nbsp;&nbsp; 900000<br>| &nbsp;&nbsp;&nbsp; 905358<br>|
| &nbsp;&nbsp;&nbsp; ONEOK Inc., Senior Notes | &nbsp;&nbsp; 5.800% | &nbsp;&nbsp; 11/1/30 | &nbsp;&nbsp; 1220000<br>| &nbsp;&nbsp;&nbsp; 1270157<br>|
| &nbsp;&nbsp;&nbsp; ONEOK Inc., Senior Notes | &nbsp;&nbsp; 6.050% | &nbsp;&nbsp; 9/1/33 | &nbsp;&nbsp; 90000<br>| &nbsp;&nbsp;&nbsp; 94403<br>|
| &nbsp;&nbsp;&nbsp; Pertamina Persero PT, Senior Notes | &nbsp;&nbsp; 6.000% | &nbsp;&nbsp; 5/3/42 | &nbsp;&nbsp; 2714000<br>| &nbsp;&nbsp;&nbsp; 2619138<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Petroleos del Peru SA, Senior Notes | &nbsp;&nbsp; 4.750% | &nbsp;&nbsp; 6/19/32 | &nbsp;&nbsp; 5477000<br>| &nbsp;&nbsp;&nbsp; 4346903<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Southern Natural Gas Co. LLC, Senior Notes | &nbsp;&nbsp; 8.000% | &nbsp;&nbsp; 3/1/32 | &nbsp;&nbsp; 1265000<br>| &nbsp;&nbsp;&nbsp; 1446153<br>|
| &nbsp;&nbsp;&nbsp; Targa Resources Corp., Senior Notes | &nbsp;&nbsp; 4.950% | &nbsp;&nbsp; 4/15/52 | &nbsp;&nbsp; 1210000<br>| &nbsp;&nbsp;&nbsp; 1014173<br>|
| &nbsp;&nbsp;&nbsp; Tennessee Gas Pipeline Co. LLC, Senior Notes | &nbsp;&nbsp; 2.900% | &nbsp;&nbsp; 3/1/30 | &nbsp;&nbsp; 1100000<br>| &nbsp;&nbsp;&nbsp; 1031016<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Transcontinental Gas Pipe Line Co. LLC, Senior Notes | &nbsp;&nbsp; 3.250% | &nbsp;&nbsp; 5/15/30 | &nbsp;&nbsp; 570000<br>| &nbsp;&nbsp;&nbsp; 542035<br>|
| &nbsp;&nbsp;&nbsp; Viper Energy Partners LLC, Senior Notes | &nbsp;&nbsp; 5.700% | &nbsp;&nbsp; 8/1/35 | &nbsp;&nbsp; 930000<br>| &nbsp;&nbsp;&nbsp; 937817<br>|
| &nbsp;&nbsp;&nbsp; Western Midstream Operating LP, Senior Notes | &nbsp;&nbsp; 4.050% | &nbsp;&nbsp; 2/1/30 | &nbsp;&nbsp; 2380000<br>| &nbsp;&nbsp;&nbsp; 2311922<br>|
| &nbsp;&nbsp;&nbsp; Williams Cos. Inc., Senior Notes | &nbsp;&nbsp; 3.750% | &nbsp;&nbsp; 6/15/27 | &nbsp;&nbsp; 90000<br>| &nbsp;&nbsp;&nbsp; 89342<br>|
| &nbsp;&nbsp;&nbsp; Williams Cos. Inc., Senior Notes | &nbsp;&nbsp; 3.500% | &nbsp;&nbsp; 11/15/30 | &nbsp;&nbsp; 1140000<br>| &nbsp;&nbsp;&nbsp; 1083833<br>|
| &nbsp;&nbsp;&nbsp; Williams Cos. Inc., Senior Notes | &nbsp;&nbsp; 7.500% | &nbsp;&nbsp; 1/15/31 | &nbsp;&nbsp; 1745000<br>| &nbsp;&nbsp;&nbsp; 1951262<br>|
| &nbsp;&nbsp;&nbsp; Williams Cos. Inc., Senior Notes | &nbsp;&nbsp; 8.750% | &nbsp;&nbsp; 3/15/32 | &nbsp;&nbsp; 1015000<br>| &nbsp;&nbsp;&nbsp; 1205942<br>|
| &nbsp;&nbsp;&nbsp; Williams Cos. Inc., Senior Notes | &nbsp;&nbsp; 5.150% | &nbsp;&nbsp; 3/15/34 | &nbsp;&nbsp; 1250000<br>| &nbsp;&nbsp;&nbsp; 1252090<br>|
| **Total Energy** | **Total Energy** | **Total Energy** | **Total Energy** | &nbsp;&nbsp; **82536554** |
| **Financials — 10.4%** | **Financials — 10.4%** | **Financials — 10.4%** | **Financials — 10.4%** | **Financials — 10.4%** |
| *Banks — 7.1%* | *Banks — 7.1%* | *Banks — 7.1%* | *Banks — 7.1%* | *Banks — 7.1%* |
| &nbsp;&nbsp;&nbsp; Banco Santander SA, Senior Notes | &nbsp;&nbsp; 4.551% | &nbsp;&nbsp; 11/6/30 | &nbsp;&nbsp; 2600000<br>| &nbsp;&nbsp;&nbsp; 2563874<br>|
| &nbsp;&nbsp;&nbsp; Bank of America Corp., Senior Notes | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 1/21/44 | &nbsp;&nbsp; 2305000<br>| &nbsp;&nbsp;&nbsp; 2146169<br>|
| &nbsp;&nbsp;&nbsp; Bank of America Corp., Senior Notes (2.572% to 10/20/31 then SOFR + 1.210%) | &nbsp;&nbsp; 2.572% | &nbsp;&nbsp; 10/20/32 | &nbsp;&nbsp; 5320000<br>| &nbsp;&nbsp;&nbsp; 4735078<br> <sup>(c)</sup><br>|
| &nbsp;&nbsp;&nbsp; Bank of America Corp., Senior Notes (2.592% to 4/29/30 then SOFR + 2.150%) | &nbsp;&nbsp; 2.592% | &nbsp;&nbsp; 4/29/31 | &nbsp;&nbsp; 4840000<br>| &nbsp;&nbsp;&nbsp; 4472620<br> <sup>(c)</sup><br>|
| &nbsp;&nbsp;&nbsp; Bank of America Corp., Senior Notes (2.972% to 2/4/32 then SOFR + 1.330%) | &nbsp;&nbsp; 2.972% | &nbsp;&nbsp; 2/4/33 | &nbsp;&nbsp; 650000<br>| &nbsp;&nbsp;&nbsp; 588562<br> <sup>(c)</sup><br>|
| &nbsp;&nbsp;&nbsp; Bank of America Corp., Senior Notes (3.419% to 12/20/27 then 3 mo. Term SOFR + <br> 1.302%) | &nbsp;&nbsp; 3.419% | &nbsp;&nbsp; 12/20/28 | &nbsp;&nbsp; 5666000<br>| &nbsp;&nbsp;&nbsp; 5568104<br> <sup>(c)</sup><br>|
| &nbsp;&nbsp;&nbsp; Bank of America Corp., Senior Notes (3.974% to 2/7/29 then 3 mo. Term SOFR + <br> 1.472%) | &nbsp;&nbsp; 3.974% | &nbsp;&nbsp; 2/7/30 | &nbsp;&nbsp; 3904000<br>| &nbsp;&nbsp;&nbsp; 3851162<br> <sup>(c)</sup><br>|
| &nbsp;&nbsp;&nbsp; Bank of America Corp., Senior Notes (4.083% to 3/20/50 then 3 mo. Term SOFR + <br> 3.412%) | &nbsp;&nbsp; 4.083% | &nbsp;&nbsp; 3/20/51 | &nbsp;&nbsp; 1790000<br>| &nbsp;&nbsp;&nbsp; 1385537<br> <sup>(c)</sup><br>|
| &nbsp;&nbsp;&nbsp; Bank of America Corp., Senior Notes (4.330% to 3/15/49 then 3 mo. Term SOFR + <br> 1.782%) | &nbsp;&nbsp; 4.330% | &nbsp;&nbsp; 3/15/50 | &nbsp;&nbsp; 1560000<br>| &nbsp;&nbsp;&nbsp; 1265671<br> <sup>(c)</sup><br>|

---

See Notes to Schedule of Investments.

------

Western Asset Core Bond Fund 2026 Quarterly Report

------

Schedule of Investments (unaudited) (cont'd)

March 31, 2026

 **Western Asset Core Bond Fund**

(Percentages shown based on Fund net assets)

---

| | | | | |
|:---|:---|:---|:---|:---|
| Security | Rate | &nbsp;&nbsp; Maturity<br> Date<br>| &nbsp;&nbsp; Face<br> Amount<br>| Value |
| *Banks — continued* | *Banks — continued* | *Banks — continued* | *Banks — continued* | *Banks — continued* |
| &nbsp;&nbsp;&nbsp; Bank of America Corp., Senior Notes (4.571% to 4/27/32 then SOFR + 1.830%) | &nbsp;&nbsp; 4.571% | &nbsp;&nbsp; 4/27/33 | &nbsp;&nbsp; $1450000<br>| &nbsp;&nbsp;&nbsp; $1425274<br> <sup>(c)</sup><br>|
| &nbsp;&nbsp;&nbsp; Bank of America Corp., Subordinated Notes | &nbsp;&nbsp; 4.250% | &nbsp;&nbsp; 10/22/26 | &nbsp;&nbsp; 4240000<br>| &nbsp;&nbsp;&nbsp; 4238431<br>|
| &nbsp;&nbsp;&nbsp; Bank of Montreal, Subordinated Notes (3.803% to 12/15/27 then USD 5 year ICE <br> Swap Rate + 1.432%) | &nbsp;&nbsp; 3.803% | &nbsp;&nbsp; 12/15/32 | &nbsp;&nbsp; 6000<br>| &nbsp;&nbsp;&nbsp; 5906<br> <sup>(c)</sup><br>|
| &nbsp;&nbsp;&nbsp; Barclays PLC, Subordinated Notes (5.088% to 6/20/29 then 3 mo. USD LIBOR + <br> 3.054%) | &nbsp;&nbsp; 5.088% | &nbsp;&nbsp; 6/20/30 | &nbsp;&nbsp; 918000<br>| &nbsp;&nbsp;&nbsp; 921308<br> <sup>(c)</sup><br>|
| &nbsp;&nbsp;&nbsp; BNP Paribas SA, Senior Notes (3.052% to 1/13/30 then SOFR + 1.507%) | &nbsp;&nbsp; 3.052% | &nbsp;&nbsp; 1/13/31 | &nbsp;&nbsp; 1720000<br>| &nbsp;&nbsp;&nbsp; 1614995<br> <sup>(a)(c)</sup><br>|
| &nbsp;&nbsp;&nbsp; BNP Paribas SA, Senior Notes (5.125% to 1/13/28 then 1 year Treasury Constant <br> Maturity Rate + 1.450%) | &nbsp;&nbsp; 5.125% | &nbsp;&nbsp; 1/13/29 | &nbsp;&nbsp; 3950000<br>| &nbsp;&nbsp;&nbsp; 3991763<br> <sup>(a)(c)</sup><br>|
| &nbsp;&nbsp;&nbsp; BNP Paribas SA, Senior Notes (5.198% to 1/10/29 then 3 mo. Term SOFR + <br> 2.829%) | &nbsp;&nbsp; 5.198% | &nbsp;&nbsp; 1/10/30 | &nbsp;&nbsp; 3824000<br>| &nbsp;&nbsp;&nbsp; 3879632<br> <sup>(a)(c)</sup><br>|
| &nbsp;&nbsp;&nbsp; BNP Paribas SA, Senior Notes (5.894% to 12/5/33 then SOFR + 1.866%) | &nbsp;&nbsp; 5.894% | &nbsp;&nbsp; 12/5/34 | &nbsp;&nbsp; 3630000<br>| &nbsp;&nbsp;&nbsp; 3799117<br> <sup>(a)(c)</sup><br>|
| &nbsp;&nbsp;&nbsp; CaixaBank SA, Senior Notes (4.885% to 7/3/30 then SOFR + 1.360%) | &nbsp;&nbsp; 4.885% | &nbsp;&nbsp; 7/3/31 | &nbsp;&nbsp; 2290000<br>| &nbsp;&nbsp;&nbsp; 2293528<br> <sup>(a)(c)</sup><br>|
| &nbsp;&nbsp;&nbsp; Citigroup Inc., Senior Notes | &nbsp;&nbsp; 8.125% | &nbsp;&nbsp; 7/15/39 | &nbsp;&nbsp; 1023000<br>| &nbsp;&nbsp;&nbsp; 1274931<br>|
| &nbsp;&nbsp;&nbsp; Citigroup Inc., Senior Notes | &nbsp;&nbsp; 4.650% | &nbsp;&nbsp; 7/30/45 | &nbsp;&nbsp; 1717000<br>| &nbsp;&nbsp;&nbsp; 1505706<br>|
| &nbsp;&nbsp;&nbsp; Citigroup Inc., Senior Notes | &nbsp;&nbsp; 4.650% | &nbsp;&nbsp; 7/23/48 | &nbsp;&nbsp; 995000<br>| &nbsp;&nbsp;&nbsp; 842689<br>|
| &nbsp;&nbsp;&nbsp; Citigroup Inc., Senior Notes (2.561% to 5/1/31 then SOFR + 1.167%) | &nbsp;&nbsp; 2.561% | &nbsp;&nbsp; 5/1/32 | &nbsp;&nbsp; 3710000<br>| &nbsp;&nbsp;&nbsp; 3320088<br> <sup>(c)</sup><br>|
| &nbsp;&nbsp;&nbsp; Citigroup Inc., Senior Notes (3.520% to 10/27/27 then 3 mo. Term SOFR + 1.413%) | &nbsp;&nbsp; 3.520% | &nbsp;&nbsp; 10/27/28 | &nbsp;&nbsp; 2294000<br>| &nbsp;&nbsp;&nbsp; 2260461<br> <sup>(c)</sup><br>|
| &nbsp;&nbsp;&nbsp; Citigroup Inc., Senior Notes (3.980% to 3/20/29 then 3 mo. Term SOFR + 1.600%) | &nbsp;&nbsp; 3.980% | &nbsp;&nbsp; 3/20/30 | &nbsp;&nbsp; 2488000<br>| &nbsp;&nbsp;&nbsp; 2448449<br> <sup>(c)</sup><br>|
| &nbsp;&nbsp;&nbsp; Citigroup Inc., Senior Notes (4.412% to 3/31/30 then SOFR + 3.914%) | &nbsp;&nbsp; 4.412% | &nbsp;&nbsp; 3/31/31 | &nbsp;&nbsp; 2340000<br>| &nbsp;&nbsp;&nbsp; 2313805<br> <sup>(c)</sup><br>|
| &nbsp;&nbsp;&nbsp; Citigroup Inc., Senior Notes (4.910% to 5/24/32 then SOFR + 2.086%) | &nbsp;&nbsp; 4.910% | &nbsp;&nbsp; 5/24/33 | &nbsp;&nbsp; 1280000<br>| &nbsp;&nbsp;&nbsp; 1274804<br> <sup>(c)</sup><br>|
| &nbsp;&nbsp;&nbsp; Citigroup Inc., Subordinated Notes | &nbsp;&nbsp; 4.450% | &nbsp;&nbsp; 9/29/27 | &nbsp;&nbsp; 2862000<br>| &nbsp;&nbsp;&nbsp; 2862750<br>|
| &nbsp;&nbsp;&nbsp; Citigroup Inc., Subordinated Notes | &nbsp;&nbsp; 6.625% | &nbsp;&nbsp; 6/15/32 | &nbsp;&nbsp; 412000<br>| &nbsp;&nbsp;&nbsp; 447950<br>|
| &nbsp;&nbsp;&nbsp; Cooperatieve Rabobank UA, Senior Notes (3.649% to 4/6/27 then 1 year Treasury <br> Constant Maturity Rate + 1.220%) | &nbsp;&nbsp; 3.649% | &nbsp;&nbsp; 4/6/28 | &nbsp;&nbsp; 1050000<br>| &nbsp;&nbsp;&nbsp; 1040637<br> <sup>(a)(c)</sup><br>|
| &nbsp;&nbsp;&nbsp; Cooperatieve Rabobank UA, Senior Notes (3.758% to 4/6/32 then 1 year Treasury <br> Constant Maturity Rate + 1.420%) | &nbsp;&nbsp; 3.758% | &nbsp;&nbsp; 4/6/33 | &nbsp;&nbsp; 2210000<br>| &nbsp;&nbsp;&nbsp; 2070723<br> <sup>(a)(c)</sup><br>|
| &nbsp;&nbsp;&nbsp; Credit Agricole SA, Senior Notes (4.818% to 9/25/32 then SOFR + 1.360%) | &nbsp;&nbsp; 4.818% | &nbsp;&nbsp; 9/25/33 | &nbsp;&nbsp; 1580000<br>| &nbsp;&nbsp;&nbsp; 1548469<br> <sup>(a)(c)</sup><br>|
| &nbsp;&nbsp;&nbsp; Danske Bank A/S, Senior Notes (4.298% to 4/1/27 then 1 year Treasury Constant <br> Maturity Rate + 1.750%) | &nbsp;&nbsp; 4.298% | &nbsp;&nbsp; 4/1/28 | &nbsp;&nbsp; 490000<br>| &nbsp;&nbsp;&nbsp; 489355<br> <sup>(a)(c)</sup><br>|
| &nbsp;&nbsp;&nbsp; HSBC Holdings PLC, Senior Notes (2.848% to 6/4/30 then SOFR + 2.387%) | &nbsp;&nbsp; 2.848% | &nbsp;&nbsp; 6/4/31 | &nbsp;&nbsp; 2410000<br>| &nbsp;&nbsp;&nbsp; 2227827<br> <sup>(c)</sup><br>|
| &nbsp;&nbsp;&nbsp; HSBC Holdings PLC, Senior Notes (4.041% to 3/13/27 then 3 mo. Term SOFR + <br> 1.808%) | &nbsp;&nbsp; 4.041% | &nbsp;&nbsp; 3/13/28 | &nbsp;&nbsp; 741000<br>| &nbsp;&nbsp;&nbsp; 737686<br> <sup>(c)</sup><br>|
| &nbsp;&nbsp;&nbsp; HSBC Holdings PLC, Senior Notes (5.279% to 3/10/36 then SOFR + 1.550%) | &nbsp;&nbsp; 5.279% | &nbsp;&nbsp; 3/10/37 | &nbsp;&nbsp; 1870000<br>| &nbsp;&nbsp;&nbsp; 1837112<br> <sup>(c)</sup><br>|
| &nbsp;&nbsp;&nbsp; JPMorgan Chase & Co., Senior Notes (2.522% to 4/22/30 then SOFR + 2.040%) | &nbsp;&nbsp; 2.522% | &nbsp;&nbsp; 4/22/31 | &nbsp;&nbsp; 3510000<br>| &nbsp;&nbsp;&nbsp; 3244464<br> <sup>(c)</sup><br>|
| &nbsp;&nbsp;&nbsp; JPMorgan Chase & Co., Senior Notes (2.545% to 11/8/31 then SOFR + 1.180%) | &nbsp;&nbsp; 2.545% | &nbsp;&nbsp; 11/8/32 | &nbsp;&nbsp; 2460000<br>| &nbsp;&nbsp;&nbsp; 2187654<br> <sup>(c)</sup><br>|
| &nbsp;&nbsp;&nbsp; JPMorgan Chase & Co., Senior Notes (2.580% to 4/22/31 then 3 mo. Term SOFR + <br> 1.250%) | &nbsp;&nbsp; 2.580% | &nbsp;&nbsp; 4/22/32 | &nbsp;&nbsp; 1520000<br>| &nbsp;&nbsp;&nbsp; 1374106<br> <sup>(c)</sup><br>|
| &nbsp;&nbsp;&nbsp; JPMorgan Chase & Co., Senior Notes (3.109% to 4/22/50 then SOFR + 2.440%) | &nbsp;&nbsp; 3.109% | &nbsp;&nbsp; 4/22/51 | &nbsp;&nbsp; 220000<br>| &nbsp;&nbsp;&nbsp; 143729<br> <sup>(c)</sup><br>|
| &nbsp;&nbsp;&nbsp; JPMorgan Chase & Co., Senior Notes (4.452% to 12/5/28 then 3 mo. Term SOFR + <br> 1.592%) | &nbsp;&nbsp; 4.452% | &nbsp;&nbsp; 12/5/29 | &nbsp;&nbsp; 5541000<br>| &nbsp;&nbsp;&nbsp; 5548637<br> <sup>(c)</sup><br>|
| &nbsp;&nbsp;&nbsp; JPMorgan Chase & Co., Senior Notes (4.493% to 3/24/30 then 3 mo. Term SOFR + <br> 3.790%) | &nbsp;&nbsp; 4.493% | &nbsp;&nbsp; 3/24/31 | &nbsp;&nbsp; 1910000<br>| &nbsp;&nbsp;&nbsp; 1900282<br> <sup>(c)</sup><br>|
| &nbsp;&nbsp;&nbsp; JPMorgan Chase & Co., Subordinated Notes | &nbsp;&nbsp; 4.250% | &nbsp;&nbsp; 10/1/27 | &nbsp;&nbsp; 1047000<br>| &nbsp;&nbsp;&nbsp; 1047830<br>|
| &nbsp;&nbsp;&nbsp; JPMorgan Chase & Co., Subordinated Notes (5.576% to 7/23/35 then SOFR + <br> 1.635%) | &nbsp;&nbsp; 5.576% | &nbsp;&nbsp; 7/23/36 | &nbsp;&nbsp; 2110000<br>| &nbsp;&nbsp;&nbsp; 2137581<br> <sup>(c)</sup><br>|

---

See Notes to Schedule of Investments.

------

Western Asset Core Bond Fund 2026 Quarterly Report

------

 **Western Asset Core Bond Fund**

(Percentages shown based on Fund net assets)

---

| | | | | |
|:---|:---|:---|:---|:---|
| Security | Rate | &nbsp;&nbsp; Maturity<br> Date<br>| &nbsp;&nbsp; Face<br> Amount<br>| Value |
| *Banks — continued* | *Banks — continued* | *Banks — continued* | *Banks — continued* | *Banks — continued* |
| &nbsp;&nbsp;&nbsp; PNC Financial Services Group Inc., Senior Notes (5.582% to 6/12/28 then SOFR + <br> 1.841%) | &nbsp;&nbsp; 5.582% | &nbsp;&nbsp; 6/12/29 | &nbsp;&nbsp; $2090000<br>| &nbsp;&nbsp;&nbsp; $2142004<br> <sup>(c)</sup><br>|
| &nbsp;&nbsp;&nbsp; Royal Bank of Canada, Senior Notes | &nbsp;&nbsp; 3.875% | &nbsp;&nbsp; 5/4/32 | &nbsp;&nbsp; 1730000<br>| &nbsp;&nbsp;&nbsp; 1661623<br>|
| &nbsp;&nbsp;&nbsp; Royal Bank of Canada, Senior Notes | &nbsp;&nbsp; 5.150% | &nbsp;&nbsp; 2/1/34 | &nbsp;&nbsp; 670000<br>| &nbsp;&nbsp;&nbsp; 685282<br>|
| &nbsp;&nbsp;&nbsp; Santander UK Group Holdings PLC, Senior Notes (5.136% to 9/22/35 then SOFR + <br> 1.578%) | &nbsp;&nbsp; 5.136% | &nbsp;&nbsp; 9/22/36 | &nbsp;&nbsp; 1040000<br>| &nbsp;&nbsp;&nbsp; 1004665<br> <sup>(c)</sup><br>|
| &nbsp;&nbsp;&nbsp; Toronto-Dominion Bank, Senior Notes | &nbsp;&nbsp; 4.456% | &nbsp;&nbsp; 6/8/32 | &nbsp;&nbsp; 470000<br>| &nbsp;&nbsp;&nbsp; 462326<br>|
| &nbsp;&nbsp;&nbsp; Truist Bank, Subordinated Notes (4.632% to 9/17/29 then 5 year Treasury Constant <br> Maturity Rate + 1.150%) | &nbsp;&nbsp; 4.632% | &nbsp;&nbsp; 9/17/29 | &nbsp;&nbsp; 1500000<br>| &nbsp;&nbsp;&nbsp; 1488027<br> <sup>(c)</sup><br>|
| &nbsp;&nbsp;&nbsp; Truist Financial Corp., Senior Notes (6.047% to 6/8/26 then SOFR + 2.050%) | &nbsp;&nbsp; 6.047% | &nbsp;&nbsp; 6/8/27 | &nbsp;&nbsp; 10000<br>| &nbsp;&nbsp;&nbsp; 10026<br> <sup>(c)</sup><br>|
| &nbsp;&nbsp;&nbsp; US Bancorp, Senior Notes (5.775% to 6/12/28 then SOFR + 2.020%) | &nbsp;&nbsp; 5.775% | &nbsp;&nbsp; 6/12/29 | &nbsp;&nbsp; 1740000<br>| &nbsp;&nbsp;&nbsp; 1790012<br> <sup>(c)</sup><br>|
| &nbsp;&nbsp;&nbsp; US Bancorp, Senior Notes (5.836% to 6/10/33 then SOFR + 2.260%) | &nbsp;&nbsp; 5.836% | &nbsp;&nbsp; 6/12/34 | &nbsp;&nbsp; 1150000<br>| &nbsp;&nbsp;&nbsp; 1200768<br> <sup>(c)</sup><br>|
| &nbsp;&nbsp;&nbsp; Wells Fargo & Co., Senior Notes | &nbsp;&nbsp; 3.000% | &nbsp;&nbsp; 10/23/26 | &nbsp;&nbsp; 2144000<br>| &nbsp;&nbsp;&nbsp; 2129539<br>|
| &nbsp;&nbsp;&nbsp; Wells Fargo & Co., Senior Notes (2.879% to 10/30/29 then 3 mo. Term SOFR + <br> 1.432%) | &nbsp;&nbsp; 2.879% | &nbsp;&nbsp; 10/30/30 | &nbsp;&nbsp; 4160000<br>| &nbsp;&nbsp;&nbsp; 3925529<br> <sup>(c)</sup><br>|
| &nbsp;&nbsp;&nbsp; Wells Fargo & Co., Senior Notes (3.350% to 3/2/32 then SOFR + 1.500%) | &nbsp;&nbsp; 3.350% | &nbsp;&nbsp; 3/2/33 | &nbsp;&nbsp; 2370000<br>| &nbsp;&nbsp;&nbsp; 2176759<br> <sup>(c)</sup><br>|
| &nbsp;&nbsp;&nbsp; Wells Fargo & Co., Senior Notes (4.478% to 4/4/30 then 3 mo. Term SOFR + <br> 4.032%) | &nbsp;&nbsp; 4.478% | &nbsp;&nbsp; 4/4/31 | &nbsp;&nbsp; 1980000<br>| &nbsp;&nbsp;&nbsp; 1963478<br> <sup>(c)</sup><br>|
| &nbsp;&nbsp;&nbsp; Wells Fargo & Co., Senior Notes (5.013% to 4/4/50 then 3 mo. Term SOFR + <br> 4.502%) | &nbsp;&nbsp; 5.013% | &nbsp;&nbsp; 4/4/51 | &nbsp;&nbsp; 7750000<br>| &nbsp;&nbsp;&nbsp; 6833809<br> <sup>(c)</sup><br>|
| &nbsp;&nbsp;&nbsp; Wells Fargo & Co., Subordinated Notes | &nbsp;&nbsp; 4.300% | &nbsp;&nbsp; 7/22/27 | &nbsp;&nbsp; 3906000<br>| &nbsp;&nbsp;&nbsp; 3901927<br>|
| *Total Banks* | *Total Banks* | *Total Banks* | *Total Banks* | &nbsp;&nbsp; *126210230* |
| *Capital Markets — 2.5%* | *Capital Markets — 2.5%* | *Capital Markets — 2.5%* | *Capital Markets — 2.5%* | *Capital Markets — 2.5%* |
| &nbsp;&nbsp;&nbsp; Charles Schwab Corp., Senior Notes (6.136% to 8/24/33 then SOFR + 2.010%) | &nbsp;&nbsp; 6.136% | &nbsp;&nbsp; 8/24/34 | &nbsp;&nbsp; 670000<br>| &nbsp;&nbsp;&nbsp; 713475<br> <sup>(c)</sup><br>|
| &nbsp;&nbsp;&nbsp; CI Financial Corp., Senior Notes | &nbsp;&nbsp; 7.500% | &nbsp;&nbsp; 5/30/29 | &nbsp;&nbsp; 2700000<br>| &nbsp;&nbsp;&nbsp; 2834810<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Goldman Sachs Group Inc., Senior Notes | &nbsp;&nbsp; 3.500% | &nbsp;&nbsp; 11/16/26 | &nbsp;&nbsp; 3495000<br>| &nbsp;&nbsp;&nbsp; 3478679<br>|
| &nbsp;&nbsp;&nbsp; Goldman Sachs Group Inc., Senior Notes | &nbsp;&nbsp; 6.250% | &nbsp;&nbsp; 2/1/41 | &nbsp;&nbsp; 2341000<br>| &nbsp;&nbsp;&nbsp; 2466353<br>|
| &nbsp;&nbsp;&nbsp; Goldman Sachs Group Inc., Senior Notes | &nbsp;&nbsp; 4.750% | &nbsp;&nbsp; 10/21/45 | &nbsp;&nbsp; 1236000<br>| &nbsp;&nbsp;&nbsp; 1071565<br>|
| &nbsp;&nbsp;&nbsp; Goldman Sachs Group Inc., Senior Notes (2.650% to 10/21/31 then SOFR + <br> 1.264%) | &nbsp;&nbsp; 2.650% | &nbsp;&nbsp; 10/21/32 | &nbsp;&nbsp; 4000000<br>| &nbsp;&nbsp;&nbsp; 3552350<br> <sup>(c)</sup><br>|
| &nbsp;&nbsp;&nbsp; Goldman Sachs Group Inc., Senior Notes (2.908% to 7/21/41 then SOFR + 1.472%) | &nbsp;&nbsp; 2.908% | &nbsp;&nbsp; 7/21/42 | &nbsp;&nbsp; 10000<br>| &nbsp;&nbsp;&nbsp; 7050<br> <sup>(c)</sup><br>|
| &nbsp;&nbsp;&nbsp; Goldman Sachs Group Inc., Senior Notes (3.615% to 3/15/27 then SOFR + 1.846%) | &nbsp;&nbsp; 3.615% | &nbsp;&nbsp; 3/15/28 | &nbsp;&nbsp; 1660000<br>| &nbsp;&nbsp;&nbsp; 1647011<br> <sup>(c)</sup><br>|
| &nbsp;&nbsp;&nbsp; Goldman Sachs Group Inc., Senior Notes (3.814% to 4/23/28 then 3 mo. Term <br> SOFR + 1.420%) | &nbsp;&nbsp; 3.814% | &nbsp;&nbsp; 4/23/29 | &nbsp;&nbsp; 3306000<br>| &nbsp;&nbsp;&nbsp; 3261705<br> <sup>(c)</sup><br>|
| &nbsp;&nbsp;&nbsp; Goldman Sachs Group Inc., Senior Notes (4.223% to 5/1/28 then 3 mo. Term SOFR <br> + 1.563%) | &nbsp;&nbsp; 4.223% | &nbsp;&nbsp; 5/1/29 | &nbsp;&nbsp; 1525000<br>| &nbsp;&nbsp;&nbsp; 1516595<br> <sup>(c)</sup><br>|
| &nbsp;&nbsp;&nbsp; Morgan Stanley, Senior Notes (2.699% to 1/22/30 then SOFR + 1.143%) | &nbsp;&nbsp; 2.699% | &nbsp;&nbsp; 1/22/31 | &nbsp;&nbsp; 4410000<br>| &nbsp;&nbsp;&nbsp; 4095894<br> <sup>(c)</sup><br>|
| &nbsp;&nbsp;&nbsp; Morgan Stanley, Senior Notes (3.622% to 4/1/30 then SOFR + 3.120%) | &nbsp;&nbsp; 3.622% | &nbsp;&nbsp; 4/1/31 | &nbsp;&nbsp; 2910000<br>| &nbsp;&nbsp;&nbsp; 2791224<br> <sup>(c)</sup><br>|
| &nbsp;&nbsp;&nbsp; Morgan Stanley, Senior Notes (3.772% to 1/24/28 then 3 mo. Term SOFR + <br> 1.402%) | &nbsp;&nbsp; 3.772% | &nbsp;&nbsp; 1/24/29 | &nbsp;&nbsp; 1929000<br>| &nbsp;&nbsp;&nbsp; 1903677<br> <sup>(c)</sup><br>|
| &nbsp;&nbsp;&nbsp; Morgan Stanley, Senior Notes (4.431% to 1/23/29 then 3 mo. Term SOFR + <br> 1.890%) | &nbsp;&nbsp; 4.431% | &nbsp;&nbsp; 1/23/30 | &nbsp;&nbsp; 584000<br>| &nbsp;&nbsp;&nbsp; 581511<br> <sup>(c)</sup><br>|
| &nbsp;&nbsp;&nbsp; Morgan Stanley, Senior Notes (4.493% to 1/16/31 then SOFR + 0.950%) | &nbsp;&nbsp; 4.493% | &nbsp;&nbsp; 1/16/32 | &nbsp;&nbsp; 1490000<br>| &nbsp;&nbsp;&nbsp; 1465378<br> <sup>(c)</sup><br>|
| &nbsp;&nbsp;&nbsp; Morgan Stanley, Senior Notes (4.892% to 10/22/35 then SOFR + 1.314%) | &nbsp;&nbsp; 4.892% | &nbsp;&nbsp; 10/22/36 | &nbsp;&nbsp; 1530000<br>| &nbsp;&nbsp;&nbsp; 1479653<br> <sup>(c)</sup><br>|
| &nbsp;&nbsp;&nbsp; Morgan Stanley Private Bank NA, Senior Notes (4.734% to 7/18/30 then SOFR + <br> 1.080%) | &nbsp;&nbsp; 4.734% | &nbsp;&nbsp; 7/18/31 | &nbsp;&nbsp; 1380000<br>| &nbsp;&nbsp;&nbsp; 1375990<br> <sup>(c)</sup><br>|
| &nbsp;&nbsp;&nbsp; UBS AG, Senior Notes | &nbsp;&nbsp; 4.500% | &nbsp;&nbsp; 6/26/48 | &nbsp;&nbsp; 659000<br>| &nbsp;&nbsp;&nbsp; 550473<br>|

---

See Notes to Schedule of Investments.

------

Western Asset Core Bond Fund 2026 Quarterly Report

------

Schedule of Investments (unaudited) (cont'd)

March 31, 2026

 **Western Asset Core Bond Fund**

(Percentages shown based on Fund net assets)

---

| | | | | |
|:---|:---|:---|:---|:---|
| Security | Rate | &nbsp;&nbsp; Maturity<br> Date<br>| &nbsp;&nbsp; Face<br> Amount<br>| Value |
| *Capital Markets — continued* | *Capital Markets — continued* | *Capital Markets — continued* | *Capital Markets — continued* | *Capital Markets — continued* |
| &nbsp;&nbsp;&nbsp; UBS Group AG, Senior Notes (2.746% to 2/11/32 then 1 year Treasury Constant <br> Maturity Rate + 1.100%) | &nbsp;&nbsp; 2.746% | &nbsp;&nbsp; 2/11/33 | &nbsp;&nbsp; $2170000<br>| &nbsp;&nbsp;&nbsp; $1919877<br> <sup>(a)(c)</sup><br>|
| &nbsp;&nbsp;&nbsp; UBS Group AG, Senior Notes (3.091% to 5/14/31 then SOFR + 1.730%) | &nbsp;&nbsp; 3.091% | &nbsp;&nbsp; 5/14/32 | &nbsp;&nbsp; 1210000<br>| &nbsp;&nbsp;&nbsp; 1110056<br> <sup>(a)(c)</sup><br>|
| &nbsp;&nbsp;&nbsp; UBS Group AG, Senior Notes (4.194% to 4/1/30 then SOFR + 3.730%) | &nbsp;&nbsp; 4.194% | &nbsp;&nbsp; 4/1/31 | &nbsp;&nbsp; 3166000<br>| &nbsp;&nbsp;&nbsp; 3098467<br> <sup>(a)(c)</sup><br>|
| &nbsp;&nbsp;&nbsp; UBS Group AG, Senior Notes (4.751% to 5/12/27 then 1 year Treasury Constant <br> Maturity Rate + 1.750%) | &nbsp;&nbsp; 4.751% | &nbsp;&nbsp; 5/12/28 | &nbsp;&nbsp; 2490000<br>| &nbsp;&nbsp;&nbsp; 2497339<br> <sup>(a)(c)</sup><br>|
| *Total Capital Markets* | *Total Capital Markets* | *Total Capital Markets* | *Total Capital Markets* | &nbsp;&nbsp; *43419132* |
| *Consumer Finance — 0.2%* | *Consumer Finance — 0.2%* | *Consumer Finance — 0.2%* | *Consumer Finance — 0.2%* | *Consumer Finance — 0.2%* |
| &nbsp;&nbsp;&nbsp; American Express Co., Senior Notes | &nbsp;&nbsp; 4.050% | &nbsp;&nbsp; 5/3/29 | &nbsp;&nbsp; 100000<br>| &nbsp;&nbsp;&nbsp; 99634<br>|
| &nbsp;&nbsp;&nbsp; Midcap Financial Issuer Trust, Senior Notes | &nbsp;&nbsp; 5.370% | &nbsp;&nbsp; 4/15/29 | &nbsp;&nbsp; 2850000<br>| &nbsp;&nbsp;&nbsp; 2815526<br> <sup>(a)</sup><br>|
| *Total Consumer Finance* | *Total Consumer Finance* | *Total Consumer Finance* | *Total Consumer Finance* | &nbsp;&nbsp; *2915160* |
| *Financial Services — 0.4%* | *Financial Services — 0.4%* | *Financial Services — 0.4%* | *Financial Services — 0.4%* | *Financial Services — 0.4%* |
| &nbsp;&nbsp;&nbsp; AerCap Ireland Capital DAC/AerCap Global Aviation Trust, Senior Notes | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 11/15/35 | &nbsp;&nbsp; 370000<br>| &nbsp;&nbsp;&nbsp; 357650<br>|
| &nbsp;&nbsp;&nbsp; AerCap Ireland Capital DAC/AerCap Global Aviation Trust, Senior Notes | &nbsp;&nbsp; 2.450% | &nbsp;&nbsp; 10/29/26 | &nbsp;&nbsp; 2960000<br>| &nbsp;&nbsp;&nbsp; 2927868<br>|
| &nbsp;&nbsp;&nbsp; AerCap Ireland Capital DAC/AerCap Global Aviation Trust, Senior Notes | &nbsp;&nbsp; 3.000% | &nbsp;&nbsp; 10/29/28 | &nbsp;&nbsp; 2310000<br>| &nbsp;&nbsp;&nbsp; 2224154<br>|
| &nbsp;&nbsp;&nbsp; Berkshire Hathaway Energy Co., Senior Notes | &nbsp;&nbsp; 5.950% | &nbsp;&nbsp; 5/15/37 | &nbsp;&nbsp; 9000<br>| &nbsp;&nbsp;&nbsp; 9468<br>|
| &nbsp;&nbsp;&nbsp; ILFC E-Capital Trust II, Ltd. GTD | &nbsp;&nbsp; 6.630% | &nbsp;&nbsp; 12/21/65 | &nbsp;&nbsp; 1623000<br>| &nbsp;&nbsp;&nbsp; 1417912<br> <sup>(a)(c)</sup><br>|
| *Total Financial Services* | *Total Financial Services* | *Total Financial Services* | *Total Financial Services* | &nbsp;&nbsp; *6937052* |
| *Insurance — 0.2%* | *Insurance — 0.2%* | *Insurance — 0.2%* | *Insurance — 0.2%* | *Insurance — 0.2%* |
| &nbsp;&nbsp;&nbsp; Aon North America Inc., Senior Notes | &nbsp;&nbsp; 5.450% | &nbsp;&nbsp; 3/1/34 | &nbsp;&nbsp; 880000<br>| &nbsp;&nbsp;&nbsp; 899053<br>|
| &nbsp;&nbsp;&nbsp; MetLife Inc., Junior Subordinated Notes | &nbsp;&nbsp; 6.400% | &nbsp;&nbsp; 12/15/36 | &nbsp;&nbsp; 1745000<br>| &nbsp;&nbsp;&nbsp; 1782339<br>|
| &nbsp;&nbsp;&nbsp; Teachers Insurance & Annuity Association of America, Subordinated Notes | &nbsp;&nbsp; 6.850% | &nbsp;&nbsp; 12/16/39 | &nbsp;&nbsp; 93000<br>| &nbsp;&nbsp;&nbsp; 104358<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Teachers Insurance & Annuity Association of America, Subordinated Notes | &nbsp;&nbsp; 4.900% | &nbsp;&nbsp; 9/15/44 | &nbsp;&nbsp; 1480000<br>| &nbsp;&nbsp;&nbsp; 1317411<br> <sup>(a)</sup><br>|
| *Total Insurance* | *Total Insurance* | *Total Insurance* | *Total Insurance* | &nbsp;&nbsp; *4103161* |
| **Total Financials** | **Total Financials** | **Total Financials** | **Total Financials** | &nbsp;&nbsp; **183584735** |
| **Health Care — 2.5%** | **Health Care — 2.5%** | **Health Care — 2.5%** | **Health Care — 2.5%** | **Health Care — 2.5%** |
| *Biotechnology — 0.6%* | *Biotechnology — 0.6%* | *Biotechnology — 0.6%* | *Biotechnology — 0.6%* | *Biotechnology — 0.6%* |
| &nbsp;&nbsp;&nbsp; AbbVie Inc., Senior Notes | &nbsp;&nbsp; 4.800% | &nbsp;&nbsp; 3/15/29 | &nbsp;&nbsp; 710000<br>| &nbsp;&nbsp;&nbsp; 721504<br>|
| &nbsp;&nbsp;&nbsp; AbbVie Inc., Senior Notes | &nbsp;&nbsp; 3.200% | &nbsp;&nbsp; 11/21/29 | &nbsp;&nbsp; 4370000<br>| &nbsp;&nbsp;&nbsp; 4213680<br>|
| &nbsp;&nbsp;&nbsp; AbbVie Inc., Senior Notes | &nbsp;&nbsp; 5.050% | &nbsp;&nbsp; 3/15/34 | &nbsp;&nbsp; 1900000<br>| &nbsp;&nbsp;&nbsp; 1929025<br>|
| &nbsp;&nbsp;&nbsp; AbbVie Inc., Senior Notes | &nbsp;&nbsp; 4.550% | &nbsp;&nbsp; 3/15/35 | &nbsp;&nbsp; 233000<br>| &nbsp;&nbsp;&nbsp; 226322<br>|
| &nbsp;&nbsp;&nbsp; AbbVie Inc., Senior Notes | &nbsp;&nbsp; 4.875% | &nbsp;&nbsp; 11/14/48 | &nbsp;&nbsp; 620000<br>| &nbsp;&nbsp;&nbsp; 556321<br>|
| &nbsp;&nbsp;&nbsp; AbbVie Inc., Senior Notes | &nbsp;&nbsp; 4.250% | &nbsp;&nbsp; 11/21/49 | &nbsp;&nbsp; 909000<br>| &nbsp;&nbsp;&nbsp; 738372<br>|
| &nbsp;&nbsp;&nbsp; Gilead Sciences Inc., Senior Notes | &nbsp;&nbsp; 4.750% | &nbsp;&nbsp; 3/1/46 | &nbsp;&nbsp; 1537000<br>| &nbsp;&nbsp;&nbsp; 1362964<br>|
| *Total Biotechnology* | *Total Biotechnology* | *Total Biotechnology* | *Total Biotechnology* | &nbsp;&nbsp; *9748188* |
| *Health Care Equipment & Supplies — 0.4%* | *Health Care Equipment & Supplies — 0.4%* | *Health Care Equipment & Supplies — 0.4%* | *Health Care Equipment & Supplies — 0.4%* | *Health Care Equipment & Supplies — 0.4%* |
| &nbsp;&nbsp;&nbsp; Abbott Laboratories, Senior Notes | &nbsp;&nbsp; 4.000% | &nbsp;&nbsp; 3/15/31 | &nbsp;&nbsp; 510000<br>| &nbsp;&nbsp;&nbsp; 502032<br>|
| &nbsp;&nbsp;&nbsp; Abbott Laboratories, Senior Notes | &nbsp;&nbsp; 4.300% | &nbsp;&nbsp; 3/15/33 | &nbsp;&nbsp; 1180000<br>| &nbsp;&nbsp;&nbsp; 1155157<br>|
| &nbsp;&nbsp;&nbsp; Abbott Laboratories, Senior Notes | &nbsp;&nbsp; 4.750% | &nbsp;&nbsp; 3/15/38 | &nbsp;&nbsp; 550000<br>| &nbsp;&nbsp;&nbsp; 533578<br>|
| &nbsp;&nbsp;&nbsp; Abbott Laboratories, Senior Notes | &nbsp;&nbsp; 5.500% | &nbsp;&nbsp; 3/15/56 | &nbsp;&nbsp; 420000<br>| &nbsp;&nbsp;&nbsp; 412119<br>|
| &nbsp;&nbsp;&nbsp; Solventum Corp., Senior Notes | &nbsp;&nbsp; 5.400% | &nbsp;&nbsp; 3/1/29 | &nbsp;&nbsp; 830000<br>| &nbsp;&nbsp;&nbsp; 849187<br>|
| &nbsp;&nbsp;&nbsp; Solventum Corp., Senior Notes | &nbsp;&nbsp; 5.450% | &nbsp;&nbsp; 3/13/31 | &nbsp;&nbsp; 1970000<br>| &nbsp;&nbsp;&nbsp; 2021684<br>|
| &nbsp;&nbsp;&nbsp; Solventum Corp., Senior Notes | &nbsp;&nbsp; 5.600% | &nbsp;&nbsp; 3/23/34 | &nbsp;&nbsp; 600000<br>| &nbsp;&nbsp;&nbsp; 613578<br>|
| &nbsp;&nbsp;&nbsp; Solventum Corp., Senior Notes | &nbsp;&nbsp; 5.900% | &nbsp;&nbsp; 4/30/54 | &nbsp;&nbsp; 1442000<br>| &nbsp;&nbsp;&nbsp; 1409941<br>|
| *Total Health Care Equipment & Supplies* | *Total Health Care Equipment & Supplies* | *Total Health Care Equipment & Supplies* | *Total Health Care Equipment & Supplies* | &nbsp;&nbsp; *7497276* |

---

See Notes to Schedule of Investments.

------

Western Asset Core Bond Fund 2026 Quarterly Report

------

 **Western Asset Core Bond Fund**

(Percentages shown based on Fund net assets)

---

| | | | | |
|:---|:---|:---|:---|:---|
| Security | Rate | &nbsp;&nbsp; Maturity<br> Date<br>| &nbsp;&nbsp; Face<br> Amount<br>| Value |
| *Health Care Providers & Services — 1.1%* | *Health Care Providers & Services — 1.1%* | *Health Care Providers & Services — 1.1%* | *Health Care Providers & Services — 1.1%* | *Health Care Providers & Services — 1.1%* |
| &nbsp;&nbsp;&nbsp; Cigna Group, Senior Notes | &nbsp;&nbsp; 4.375% | &nbsp;&nbsp; 10/15/28 | &nbsp;&nbsp; $2382000<br>| &nbsp;&nbsp;&nbsp; $2380496<br>|
| &nbsp;&nbsp;&nbsp; Cigna Group, Senior Notes | &nbsp;&nbsp; 4.800% | &nbsp;&nbsp; 8/15/38 | &nbsp;&nbsp; 520000<br>| &nbsp;&nbsp;&nbsp; 489169<br>|
| &nbsp;&nbsp;&nbsp; CommonSpirit Health, Secured Notes | &nbsp;&nbsp; 4.350% | &nbsp;&nbsp; 11/1/42 | &nbsp;&nbsp; 358000<br>| &nbsp;&nbsp;&nbsp; 304818<br>|
| &nbsp;&nbsp;&nbsp; CVS Health Corp., Senior Notes | &nbsp;&nbsp; 4.300% | &nbsp;&nbsp; 3/25/28 | &nbsp;&nbsp; 702000<br>| &nbsp;&nbsp;&nbsp; 699659<br>|
| &nbsp;&nbsp;&nbsp; CVS Health Corp., Senior Notes | &nbsp;&nbsp; 3.750% | &nbsp;&nbsp; 4/1/30 | &nbsp;&nbsp; 3930000<br>| &nbsp;&nbsp;&nbsp; 3798569<br>|
| &nbsp;&nbsp;&nbsp; CVS Health Corp., Senior Notes | &nbsp;&nbsp; 2.125% | &nbsp;&nbsp; 9/15/31 | &nbsp;&nbsp; 1660000<br>| &nbsp;&nbsp;&nbsp; 1439928<br>|
| &nbsp;&nbsp;&nbsp; CVS Health Corp., Senior Notes | &nbsp;&nbsp; 4.780% | &nbsp;&nbsp; 3/25/38 | &nbsp;&nbsp; 230000<br>| &nbsp;&nbsp;&nbsp; 212078<br>|
| &nbsp;&nbsp;&nbsp; CVS Health Corp., Senior Notes | &nbsp;&nbsp; 5.125% | &nbsp;&nbsp; 7/20/45 | &nbsp;&nbsp; 1104000<br>| &nbsp;&nbsp;&nbsp; 969980<br>|
| &nbsp;&nbsp;&nbsp; CVS Pass-Through Trust, Secured Trust | &nbsp;&nbsp; 6.036% | &nbsp;&nbsp; 12/10/28 | &nbsp;&nbsp; 701551<br>| &nbsp;&nbsp;&nbsp; 708270<br>|
| &nbsp;&nbsp;&nbsp; Elevance Health Inc., Senior Notes | &nbsp;&nbsp; 4.100% | &nbsp;&nbsp; 5/15/32 | &nbsp;&nbsp; 1380000<br>| &nbsp;&nbsp;&nbsp; 1325559<br>|
| &nbsp;&nbsp;&nbsp; Elevance Health Inc., Senior Notes | &nbsp;&nbsp; 4.550% | &nbsp;&nbsp; 5/15/52 | &nbsp;&nbsp; 910000<br>| &nbsp;&nbsp;&nbsp; 733672<br>|
| &nbsp;&nbsp;&nbsp; Humana Inc., Senior Notes | &nbsp;&nbsp; 3.950% | &nbsp;&nbsp; 3/15/27 | &nbsp;&nbsp; 6000<br>| &nbsp;&nbsp;&nbsp; 5975<br>|
| &nbsp;&nbsp;&nbsp; Humana Inc., Senior Notes | &nbsp;&nbsp; 2.150% | &nbsp;&nbsp; 2/3/32 | &nbsp;&nbsp; 1240000<br>| &nbsp;&nbsp;&nbsp; 1062035<br>|
| &nbsp;&nbsp;&nbsp; UnitedHealth Group Inc., Senior Notes | &nbsp;&nbsp; 2.000% | &nbsp;&nbsp; 5/15/30 | &nbsp;&nbsp; 1070000<br>| &nbsp;&nbsp;&nbsp; 968987<br>|
| &nbsp;&nbsp;&nbsp; UnitedHealth Group Inc., Senior Notes | &nbsp;&nbsp; 4.200% | &nbsp;&nbsp; 5/15/32 | &nbsp;&nbsp; 950000<br>| &nbsp;&nbsp;&nbsp; 926376<br>|
| &nbsp;&nbsp;&nbsp; UnitedHealth Group Inc., Senior Notes | &nbsp;&nbsp; 5.800% | &nbsp;&nbsp; 3/15/36 | &nbsp;&nbsp; 582000<br>| &nbsp;&nbsp;&nbsp; 608738<br>|
| &nbsp;&nbsp;&nbsp; UnitedHealth Group Inc., Senior Notes | &nbsp;&nbsp; 2.750% | &nbsp;&nbsp; 5/15/40 | &nbsp;&nbsp; 1020000<br>| &nbsp;&nbsp;&nbsp; 742420<br>|
| &nbsp;&nbsp;&nbsp; UnitedHealth Group Inc., Senior Notes | &nbsp;&nbsp; 2.900% | &nbsp;&nbsp; 5/15/50 | &nbsp;&nbsp; 1540000<br>| &nbsp;&nbsp;&nbsp; 959535<br>|
| &nbsp;&nbsp;&nbsp; UnitedHealth Group Inc., Senior Notes | &nbsp;&nbsp; 3.875% | &nbsp;&nbsp; 8/15/59 | &nbsp;&nbsp; 889000<br>| &nbsp;&nbsp;&nbsp; 620849<br>|
| &nbsp;&nbsp;&nbsp; UnitedHealth Group Inc., Senior Notes | &nbsp;&nbsp; 3.125% | &nbsp;&nbsp; 5/15/60 | &nbsp;&nbsp; 10000<br>| &nbsp;&nbsp;&nbsp; 5956<br>|
| *Total Health Care Providers & Services* | *Total Health Care Providers & Services* | *Total Health Care Providers & Services* | *Total Health Care Providers & Services* | &nbsp;&nbsp; *18963069* |
| *Pharmaceuticals — 0.4%* | *Pharmaceuticals — 0.4%* | *Pharmaceuticals — 0.4%* | *Pharmaceuticals — 0.4%* | *Pharmaceuticals — 0.4%* |
| &nbsp;&nbsp;&nbsp; Bristol-Myers Squibb Co., Senior Notes | &nbsp;&nbsp; 5.100% | &nbsp;&nbsp; 2/22/31 | &nbsp;&nbsp; 810000<br>| &nbsp;&nbsp;&nbsp; 832836<br>|
| &nbsp;&nbsp;&nbsp; Bristol-Myers Squibb Co., Senior Notes | &nbsp;&nbsp; 5.200% | &nbsp;&nbsp; 2/22/34 | &nbsp;&nbsp; 1120000<br>| &nbsp;&nbsp;&nbsp; 1148623<br>|
| &nbsp;&nbsp;&nbsp; Bristol-Myers Squibb Co., Senior Notes | &nbsp;&nbsp; 5.550% | &nbsp;&nbsp; 2/22/54 | &nbsp;&nbsp; 400000<br>| &nbsp;&nbsp;&nbsp; 385429<br>|
| &nbsp;&nbsp;&nbsp; Eli Lilly & Co., Senior Notes | &nbsp;&nbsp; 4.700% | &nbsp;&nbsp; 2/9/34 | &nbsp;&nbsp; 1700000<br>| &nbsp;&nbsp;&nbsp; 1697824<br>|
| &nbsp;&nbsp;&nbsp; Eli Lilly & Co., Senior Notes | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 2/9/54 | &nbsp;&nbsp; 1050000<br>| &nbsp;&nbsp;&nbsp; 957234<br>|
| &nbsp;&nbsp;&nbsp; Eli Lilly & Co., Senior Notes | &nbsp;&nbsp; 5.100% | &nbsp;&nbsp; 2/9/64 | &nbsp;&nbsp; 2320000<br>| &nbsp;&nbsp;&nbsp; 2088751<br>|
| *Total Pharmaceuticals* | *Total Pharmaceuticals* | *Total Pharmaceuticals* | *Total Pharmaceuticals* | &nbsp;&nbsp; *7110697* |
| **Total Health Care** | **Total Health Care** | **Total Health Care** | **Total Health Care** | &nbsp;&nbsp; **43319230** |
| **Industrials — 2.3%** | **Industrials — 2.3%** | **Industrials — 2.3%** | **Industrials — 2.3%** | **Industrials — 2.3%** |
| *Aerospace & Defense — 1.5%* | *Aerospace & Defense — 1.5%* | *Aerospace & Defense — 1.5%* | *Aerospace & Defense — 1.5%* | *Aerospace & Defense — 1.5%* |
| &nbsp;&nbsp;&nbsp; Boeing Co., Senior Notes | &nbsp;&nbsp; 3.100% | &nbsp;&nbsp; 5/1/26 | &nbsp;&nbsp; 869000<br>| &nbsp;&nbsp;&nbsp; 867879<br>|
| &nbsp;&nbsp;&nbsp; Boeing Co., Senior Notes | &nbsp;&nbsp; 2.700% | &nbsp;&nbsp; 2/1/27 | &nbsp;&nbsp; 1958000<br>| &nbsp;&nbsp;&nbsp; 1931035<br>|
| &nbsp;&nbsp;&nbsp; Boeing Co., Senior Notes | &nbsp;&nbsp; 3.200% | &nbsp;&nbsp; 3/1/29 | &nbsp;&nbsp; 1780000<br>| &nbsp;&nbsp;&nbsp; 1717199<br>|
| &nbsp;&nbsp;&nbsp; Boeing Co., Senior Notes | &nbsp;&nbsp; 5.150% | &nbsp;&nbsp; 5/1/30 | &nbsp;&nbsp; 793000<br>| &nbsp;&nbsp;&nbsp; 806560<br>|
| &nbsp;&nbsp;&nbsp; Boeing Co., Senior Notes | &nbsp;&nbsp; 3.250% | &nbsp;&nbsp; 2/1/35 | &nbsp;&nbsp; 1827000<br>| &nbsp;&nbsp;&nbsp; 1566960<br>|
| &nbsp;&nbsp;&nbsp; Boeing Co., Senior Notes | &nbsp;&nbsp; 3.750% | &nbsp;&nbsp; 2/1/50 | &nbsp;&nbsp; 700000<br>| &nbsp;&nbsp;&nbsp; 496899<br>|
| &nbsp;&nbsp;&nbsp; General Dynamics Corp., Senior Notes | &nbsp;&nbsp; 4.250% | &nbsp;&nbsp; 4/1/40 | &nbsp;&nbsp; 480000<br>| &nbsp;&nbsp;&nbsp; 431311<br>|
| &nbsp;&nbsp;&nbsp; Honeywell Aerospace Inc., Senior Notes | &nbsp;&nbsp; 4.300% | &nbsp;&nbsp; 3/16/31 | &nbsp;&nbsp; 210000<br>| &nbsp;&nbsp;&nbsp; 207799<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Honeywell Aerospace Inc., Senior Notes | &nbsp;&nbsp; 5.622% | &nbsp;&nbsp; 3/16/46 | &nbsp;&nbsp; 380000<br>| &nbsp;&nbsp;&nbsp; 374700<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Honeywell Aerospace Inc., Senior Notes | &nbsp;&nbsp; 5.732% | &nbsp;&nbsp; 3/16/56 | &nbsp;&nbsp; 1130000<br>| &nbsp;&nbsp;&nbsp; 1117740<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Howmet Aerospace Inc., Senior Notes | &nbsp;&nbsp; 4.550% | &nbsp;&nbsp; 11/15/32 | &nbsp;&nbsp; 1160000<br>| &nbsp;&nbsp;&nbsp; 1145439<br>|
| &nbsp;&nbsp;&nbsp; Huntington Ingalls Industries Inc., Senior Notes | &nbsp;&nbsp; 5.749% | &nbsp;&nbsp; 1/15/35 | &nbsp;&nbsp; 570000<br>| &nbsp;&nbsp;&nbsp; 590827<br>|
| &nbsp;&nbsp;&nbsp; L3Harris Technologies Inc., Senior Notes | &nbsp;&nbsp; 4.854% | &nbsp;&nbsp; 4/27/35 | &nbsp;&nbsp; 1080000<br>| &nbsp;&nbsp;&nbsp; 1060023<br>|
| &nbsp;&nbsp;&nbsp; Lockheed Martin Corp., Senior Notes | &nbsp;&nbsp; 3.900% | &nbsp;&nbsp; 6/15/32 | &nbsp;&nbsp; 900000<br>| &nbsp;&nbsp;&nbsp; 874971<br>|

---

See Notes to Schedule of Investments.

------

Western Asset Core Bond Fund 2026 Quarterly Report

------

Schedule of Investments (unaudited) (cont'd)

March 31, 2026

 **Western Asset Core Bond Fund**

(Percentages shown based on Fund net assets)

---

| | | | | |
|:---|:---|:---|:---|:---|
| Security | Rate | &nbsp;&nbsp; Maturity<br> Date<br>| &nbsp;&nbsp; Face<br> Amount<br>| Value |
| *Aerospace & Defense — continued* | *Aerospace & Defense — continued* | *Aerospace & Defense — continued* | *Aerospace & Defense — continued* | *Aerospace & Defense — continued* |
| &nbsp;&nbsp;&nbsp; Lockheed Martin Corp., Senior Notes | &nbsp;&nbsp; 4.150% | &nbsp;&nbsp; 6/15/53 | &nbsp;&nbsp; $2200000<br>| &nbsp;&nbsp;&nbsp; $1738207<br>|
| &nbsp;&nbsp;&nbsp; Lockheed Martin Corp., Senior Notes | &nbsp;&nbsp; 5.200% | &nbsp;&nbsp; 2/15/64 | &nbsp;&nbsp; 1022000<br>| &nbsp;&nbsp;&nbsp; 928683<br>|
| &nbsp;&nbsp;&nbsp; Northrop Grumman Corp., Senior Notes | &nbsp;&nbsp; 3.250% | &nbsp;&nbsp; 1/15/28 | &nbsp;&nbsp; 4000<br>| &nbsp;&nbsp;&nbsp; 3930<br>|
| &nbsp;&nbsp;&nbsp; Northrop Grumman Corp., Senior Notes | &nbsp;&nbsp; 5.250% | &nbsp;&nbsp; 5/1/50 | &nbsp;&nbsp; 2840000<br>| &nbsp;&nbsp;&nbsp; 2635947<br>|
| &nbsp;&nbsp;&nbsp; RTX Corp., Senior Notes | &nbsp;&nbsp; 4.125% | &nbsp;&nbsp; 11/16/28 | &nbsp;&nbsp; 750000<br>| &nbsp;&nbsp;&nbsp; 747024<br>|
| &nbsp;&nbsp;&nbsp; RTX Corp., Senior Notes | &nbsp;&nbsp; 2.250% | &nbsp;&nbsp; 7/1/30 | &nbsp;&nbsp; 2960000<br>| &nbsp;&nbsp;&nbsp; 2707713<br>|
| &nbsp;&nbsp;&nbsp; RTX Corp., Senior Notes | &nbsp;&nbsp; 6.000% | &nbsp;&nbsp; 3/15/31 | &nbsp;&nbsp; 1890000<br>| &nbsp;&nbsp;&nbsp; 2009635<br>|
| &nbsp;&nbsp;&nbsp; RTX Corp., Senior Notes | &nbsp;&nbsp; 4.500% | &nbsp;&nbsp; 6/1/42 | &nbsp;&nbsp; 293000<br>| &nbsp;&nbsp;&nbsp; 260175<br>|
| &nbsp;&nbsp;&nbsp; RTX Corp., Senior Notes | &nbsp;&nbsp; 3.125% | &nbsp;&nbsp; 7/1/50 | &nbsp;&nbsp; 2560000<br>| &nbsp;&nbsp;&nbsp; 1684846<br>|
| *Total Aerospace & Defense* | *Total Aerospace & Defense* | *Total Aerospace & Defense* | *Total Aerospace & Defense* | &nbsp;&nbsp; *25905502* |
| *Commercial Services & Supplies — 0.1%* | *Commercial Services & Supplies — 0.1%* | *Commercial Services & Supplies — 0.1%* | *Commercial Services & Supplies — 0.1%* | *Commercial Services & Supplies — 0.1%* |
| &nbsp;&nbsp;&nbsp; Waste Connections Inc., Senior Notes | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 3/1/34 | &nbsp;&nbsp; 1540000<br>| &nbsp;&nbsp;&nbsp; *1550745*<br>|
| *Electrical Equipment — 0.1%* | *Electrical Equipment — 0.1%* | *Electrical Equipment — 0.1%* | *Electrical Equipment — 0.1%* | *Electrical Equipment — 0.1%* |
| &nbsp;&nbsp;&nbsp; Eaton Corp., Senior Notes | &nbsp;&nbsp; 4.800% | &nbsp;&nbsp; 3/6/36 | &nbsp;&nbsp; 250000<br>| &nbsp;&nbsp;&nbsp; 246919<br>|
| &nbsp;&nbsp;&nbsp; GE Vernova Inc., Senior Notes | &nbsp;&nbsp; 4.250% | &nbsp;&nbsp; 2/4/31 | &nbsp;&nbsp; 620000<br>| &nbsp;&nbsp;&nbsp; 613226<br>|
| &nbsp;&nbsp;&nbsp; GE Vernova Inc., Senior Notes | &nbsp;&nbsp; 4.875% | &nbsp;&nbsp; 2/4/36 | &nbsp;&nbsp; 690000<br>| &nbsp;&nbsp;&nbsp; 684132<br>|
| &nbsp;&nbsp;&nbsp; GE Vernova Inc., Senior Notes | &nbsp;&nbsp; 5.500% | &nbsp;&nbsp; 2/4/56 | &nbsp;&nbsp; 360000<br>| &nbsp;&nbsp;&nbsp; 346566<br>|
| *Total Electrical Equipment* | *Total Electrical Equipment* | *Total Electrical Equipment* | *Total Electrical Equipment* | &nbsp;&nbsp; *1890843* |
| *Ground Transportation — 0.3%* | *Ground Transportation — 0.3%* | *Ground Transportation — 0.3%* | *Ground Transportation — 0.3%* | *Ground Transportation — 0.3%* |
| &nbsp;&nbsp;&nbsp; Fedex Freight Holding Co. Inc., Senior Notes | &nbsp;&nbsp; 4.300% | &nbsp;&nbsp; 3/15/29 | &nbsp;&nbsp; 840000<br>| &nbsp;&nbsp;&nbsp; 830127<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Fedex Freight Holding Co. Inc., Senior Notes | &nbsp;&nbsp; 4.650% | &nbsp;&nbsp; 3/15/31 | &nbsp;&nbsp; 790000<br>| &nbsp;&nbsp;&nbsp; 776815<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Fedex Freight Holding Co. Inc., Senior Notes | &nbsp;&nbsp; 4.950% | &nbsp;&nbsp; 3/15/33 | &nbsp;&nbsp; 580000<br>| &nbsp;&nbsp;&nbsp; 565886<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Fedex Freight Holding Co. Inc., Senior Notes | &nbsp;&nbsp; 5.250% | &nbsp;&nbsp; 3/15/36 | &nbsp;&nbsp; 30000<br>| &nbsp;&nbsp;&nbsp; 29036<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Union Pacific Corp., Senior Notes | &nbsp;&nbsp; 2.400% | &nbsp;&nbsp; 2/5/30 | &nbsp;&nbsp; 810000<br>| &nbsp;&nbsp;&nbsp; 754067<br>|
| &nbsp;&nbsp;&nbsp; Union Pacific Corp., Senior Notes | &nbsp;&nbsp; 3.839% | &nbsp;&nbsp; 3/20/60 | &nbsp;&nbsp; 1360000<br>| &nbsp;&nbsp;&nbsp; 963330<br>|
| &nbsp;&nbsp;&nbsp; Union Pacific Corp., Senior Notes | &nbsp;&nbsp; 3.750% | &nbsp;&nbsp; 2/5/70 | &nbsp;&nbsp; 2030000<br>| &nbsp;&nbsp;&nbsp; 1355666<br>|
| *Total Ground Transportation* | *Total Ground Transportation* | *Total Ground Transportation* | *Total Ground Transportation* | &nbsp;&nbsp; *5274927* |
| *Industrial Conglomerates — 0.0%††* | *Industrial Conglomerates — 0.0%††* | *Industrial Conglomerates — 0.0%††* | *Industrial Conglomerates — 0.0%††* | *Industrial Conglomerates — 0.0%††* |
| &nbsp;&nbsp;&nbsp; Siemens Funding BV, Senior Notes | &nbsp;&nbsp; 4.900% | &nbsp;&nbsp; 5/28/32 | &nbsp;&nbsp; 680000<br>| &nbsp;&nbsp;&nbsp;&nbsp; *693598*<br> <sup>(a)</sup><br>|
| *Passenger Airlines — 0.2%* | *Passenger Airlines — 0.2%* | *Passenger Airlines — 0.2%* | *Passenger Airlines — 0.2%* | *Passenger Airlines — 0.2%* |
| &nbsp;&nbsp;&nbsp; Delta Air Lines Inc./SkyMiles IP Ltd., Senior Secured Notes | &nbsp;&nbsp; 4.750% | &nbsp;&nbsp; 10/20/28 | &nbsp;&nbsp; 357500<br>| &nbsp;&nbsp;&nbsp; 357112<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; United Airlines Inc., Senior Secured Notes | &nbsp;&nbsp; 4.625% | &nbsp;&nbsp; 4/15/29 | &nbsp;&nbsp; 3910000<br>| &nbsp;&nbsp;&nbsp; 3838755<br> <sup>(a)</sup><br>|
| *Total Passenger Airlines* | *Total Passenger Airlines* | *Total Passenger Airlines* | *Total Passenger Airlines* | &nbsp;&nbsp; *4195867* |
| *Trading Companies & Distributors — 0.1%* | *Trading Companies & Distributors — 0.1%* | *Trading Companies & Distributors — 0.1%* | *Trading Companies & Distributors — 0.1%* | *Trading Companies & Distributors — 0.1%* |
| &nbsp;&nbsp;&nbsp; Air Lease Corp., Senior Notes | &nbsp;&nbsp; 5.300% | &nbsp;&nbsp; 2/1/28 | &nbsp;&nbsp; 775000<br>| &nbsp;&nbsp;&nbsp; *784034*<br>|
| **Total Industrials** | **Total Industrials** | **Total Industrials** | **Total Industrials** | &nbsp;&nbsp; **40295516** |
| **Information Technology — 2.8%** | **Information Technology — 2.8%** | **Information Technology — 2.8%** | **Information Technology — 2.8%** | **Information Technology — 2.8%** |
| *IT Services — 0.0%††* | *IT Services — 0.0%††* | *IT Services — 0.0%††* | *IT Services — 0.0%††* | *IT Services — 0.0%††* |
| &nbsp;&nbsp;&nbsp; Mastercard Inc., Senior Notes | &nbsp;&nbsp; 3.850% | &nbsp;&nbsp; 3/26/50 | &nbsp;&nbsp; 580000<br>| &nbsp;&nbsp;&nbsp; *441514*<br>|
| *Semiconductors & Semiconductor Equipment — 2.1%* | *Semiconductors & Semiconductor Equipment — 2.1%* | *Semiconductors & Semiconductor Equipment — 2.1%* | *Semiconductors & Semiconductor Equipment — 2.1%* | *Semiconductors & Semiconductor Equipment — 2.1%* |
| &nbsp;&nbsp;&nbsp; Broadcom Inc., Senior Notes | &nbsp;&nbsp; 4.150% | &nbsp;&nbsp; 11/15/30 | &nbsp;&nbsp; 612000<br>| &nbsp;&nbsp;&nbsp; 602663<br>|
| &nbsp;&nbsp;&nbsp; Broadcom Inc., Senior Notes | &nbsp;&nbsp; 4.600% | &nbsp;&nbsp; 1/15/33 | &nbsp;&nbsp; 1760000<br>| &nbsp;&nbsp;&nbsp; 1733876<br>|
| &nbsp;&nbsp;&nbsp; Broadcom Inc., Senior Notes | &nbsp;&nbsp; 3.137% | &nbsp;&nbsp; 11/15/35 | &nbsp;&nbsp; 3930000<br>| &nbsp;&nbsp;&nbsp; 3340578<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Broadcom Inc., Senior Notes | &nbsp;&nbsp; 4.800% | &nbsp;&nbsp; 2/15/36 | &nbsp;&nbsp; 850000<br>| &nbsp;&nbsp;&nbsp; 829017<br>|
| &nbsp;&nbsp;&nbsp; Broadcom Inc., Senior Notes | &nbsp;&nbsp; 3.187% | &nbsp;&nbsp; 11/15/36 | &nbsp;&nbsp; 7000<br>| &nbsp;&nbsp;&nbsp; 5853<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Broadcom Inc., Senior Notes | &nbsp;&nbsp; 4.926% | &nbsp;&nbsp; 5/15/37 | &nbsp;&nbsp; 25000<br>| &nbsp;&nbsp;&nbsp; 24265<br> <sup>(a)</sup><br>|

---

See Notes to Schedule of Investments.

------

Western Asset Core Bond Fund 2026 Quarterly Report

------

 **Western Asset Core Bond Fund**

(Percentages shown based on Fund net assets)

---

| | | | | |
|:---|:---|:---|:---|:---|
| Security | Rate | &nbsp;&nbsp; Maturity<br> Date<br>| &nbsp;&nbsp; Face<br> Amount<br>| Value |
| *Semiconductors & Semiconductor Equipment — continued* | *Semiconductors & Semiconductor Equipment — continued* | *Semiconductors & Semiconductor Equipment — continued* | *Semiconductors & Semiconductor Equipment — continued* | *Semiconductors & Semiconductor Equipment — continued* |
| &nbsp;&nbsp;&nbsp; Foundry JV Holdco LLC, Senior Secured Notes | &nbsp;&nbsp; 5.900% | &nbsp;&nbsp; 1/25/30 | &nbsp;&nbsp; $3180000<br>| &nbsp;&nbsp;&nbsp; $3292619<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Foundry JV Holdco LLC, Senior Secured Notes | &nbsp;&nbsp; 5.875% | &nbsp;&nbsp; 1/25/34 | &nbsp;&nbsp; 1000000<br>| &nbsp;&nbsp;&nbsp; 1013418<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Intel Corp., Senior Notes | &nbsp;&nbsp; 4.750% | &nbsp;&nbsp; 3/25/50 | &nbsp;&nbsp; 1305000<br>| &nbsp;&nbsp;&nbsp; 1056585<br>|
| &nbsp;&nbsp;&nbsp; Micron Technology Inc., Senior Notes | &nbsp;&nbsp; 5.300% | &nbsp;&nbsp; 1/15/31 | &nbsp;&nbsp; 2210000<br>| &nbsp;&nbsp;&nbsp; 2313998<br>|
| &nbsp;&nbsp;&nbsp; Micron Technology Inc., Senior Notes | &nbsp;&nbsp; 5.875% | &nbsp;&nbsp; 2/9/33 | &nbsp;&nbsp; 150000<br>| &nbsp;&nbsp;&nbsp; 160487<br>|
| &nbsp;&nbsp;&nbsp; Micron Technology Inc., Senior Notes | &nbsp;&nbsp; 6.050% | &nbsp;&nbsp; 11/1/35 | &nbsp;&nbsp; 400000<br>| &nbsp;&nbsp;&nbsp; 431792<br>|
| &nbsp;&nbsp;&nbsp; QUALCOMM Inc., Senior Notes | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 5/20/35 | &nbsp;&nbsp; 1250000<br>| &nbsp;&nbsp;&nbsp; 1248616<br>|
| &nbsp;&nbsp;&nbsp; TSMC Arizona Corp., Senior Notes | &nbsp;&nbsp; 1.750% | &nbsp;&nbsp; 10/25/26 | &nbsp;&nbsp; 7100000<br>| &nbsp;&nbsp;&nbsp; 7005847<br>|
| &nbsp;&nbsp;&nbsp; TSMC Arizona Corp., Senior Notes | &nbsp;&nbsp; 2.500% | &nbsp;&nbsp; 10/25/31 | &nbsp;&nbsp; 15180000<br>| &nbsp;&nbsp;&nbsp; 13783993<br>|
| *Total Semiconductors & Semiconductor Equipment* | *Total Semiconductors & Semiconductor Equipment* | *Total Semiconductors & Semiconductor Equipment* | *Total Semiconductors & Semiconductor Equipment* | &nbsp;&nbsp; *36843607* |
| *Software — 0.7%* | *Software — 0.7%* | *Software — 0.7%* | *Software — 0.7%* | *Software — 0.7%* |
| &nbsp;&nbsp;&nbsp; Oracle Corp., Senior Notes | &nbsp;&nbsp; 2.950% | &nbsp;&nbsp; 4/1/30 | &nbsp;&nbsp; 480000<br>| &nbsp;&nbsp;&nbsp; 438292<br>|
| &nbsp;&nbsp;&nbsp; Oracle Corp., Senior Notes | &nbsp;&nbsp; 4.650% | &nbsp;&nbsp; 5/6/30 | &nbsp;&nbsp; 1560000<br>| &nbsp;&nbsp;&nbsp; 1525223<br>|
| &nbsp;&nbsp;&nbsp; Oracle Corp., Senior Notes | &nbsp;&nbsp; 4.950% | &nbsp;&nbsp; 2/4/31 | &nbsp;&nbsp; 20000<br>| &nbsp;&nbsp;&nbsp; 19576<br>|
| &nbsp;&nbsp;&nbsp; Oracle Corp., Senior Notes | &nbsp;&nbsp; 2.875% | &nbsp;&nbsp; 3/25/31 | &nbsp;&nbsp; 3230000<br>| &nbsp;&nbsp;&nbsp; 2869532<br>|
| &nbsp;&nbsp;&nbsp; Oracle Corp., Senior Notes | &nbsp;&nbsp; 4.800% | &nbsp;&nbsp; 9/26/32 | &nbsp;&nbsp; 80000<br>| &nbsp;&nbsp;&nbsp; 76212<br>|
| &nbsp;&nbsp;&nbsp; Oracle Corp., Senior Notes | &nbsp;&nbsp; 5.350% | &nbsp;&nbsp; 5/4/33 | &nbsp;&nbsp; 270000<br>| &nbsp;&nbsp;&nbsp; 262936<br>|
| &nbsp;&nbsp;&nbsp; Oracle Corp., Senior Notes | &nbsp;&nbsp; 5.200% | &nbsp;&nbsp; 9/26/35 | &nbsp;&nbsp; 320000<br>| &nbsp;&nbsp;&nbsp; 300320<br>|
| &nbsp;&nbsp;&nbsp; Oracle Corp., Senior Notes | &nbsp;&nbsp; 5.700% | &nbsp;&nbsp; 2/4/36 | &nbsp;&nbsp; 330000<br>| &nbsp;&nbsp;&nbsp; 317434<br>|
| &nbsp;&nbsp;&nbsp; Oracle Corp., Senior Notes | &nbsp;&nbsp; 5.875% | &nbsp;&nbsp; 9/26/45 | &nbsp;&nbsp; 810000<br>| &nbsp;&nbsp;&nbsp; 699339<br>|
| &nbsp;&nbsp;&nbsp; Oracle Corp., Senior Notes | &nbsp;&nbsp; 3.600% | &nbsp;&nbsp; 4/1/50 | &nbsp;&nbsp; 420000<br>| &nbsp;&nbsp;&nbsp; 253756<br>|
| &nbsp;&nbsp;&nbsp; Oracle Corp., Senior Notes | &nbsp;&nbsp; 5.375% | &nbsp;&nbsp; 9/27/54 | &nbsp;&nbsp; 1420000<br>| &nbsp;&nbsp;&nbsp; 1101876<br>|
| &nbsp;&nbsp;&nbsp; Oracle Corp., Senior Notes | &nbsp;&nbsp; 5.950% | &nbsp;&nbsp; 9/26/55 | &nbsp;&nbsp; 720000<br>| &nbsp;&nbsp;&nbsp; 606162<br>|
| &nbsp;&nbsp;&nbsp; Oracle Corp., Senior Notes | &nbsp;&nbsp; 6.850% | &nbsp;&nbsp; 2/4/66 | &nbsp;&nbsp; 560000<br>| &nbsp;&nbsp;&nbsp; 515327<br>|
| &nbsp;&nbsp;&nbsp; Synopsys Inc., Senior Notes | &nbsp;&nbsp; 4.850% | &nbsp;&nbsp; 4/1/30 | &nbsp;&nbsp; 850000<br>| &nbsp;&nbsp;&nbsp; 856477<br>|
| &nbsp;&nbsp;&nbsp; Synopsys Inc., Senior Notes | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 4/1/32 | &nbsp;&nbsp; 660000<br>| &nbsp;&nbsp;&nbsp; 665949<br>|
| &nbsp;&nbsp;&nbsp; Synopsys Inc., Senior Notes | &nbsp;&nbsp; 5.150% | &nbsp;&nbsp; 4/1/35 | &nbsp;&nbsp; 560000<br>| &nbsp;&nbsp;&nbsp; 561271<br>|
| &nbsp;&nbsp;&nbsp; Synopsys Inc., Senior Notes | &nbsp;&nbsp; 5.700% | &nbsp;&nbsp; 4/1/55 | &nbsp;&nbsp; 1120000<br>| &nbsp;&nbsp;&nbsp; 1071551<br>|
| *Total Software* | *Total Software* | *Total Software* | *Total Software* | &nbsp;&nbsp; *12141233* |
| **Total Information Technology** | **Total Information Technology** | **Total Information Technology** | **Total Information Technology** | &nbsp;&nbsp; **49426354** |
| **Materials — 1.3%** | **Materials — 1.3%** | **Materials — 1.3%** | **Materials — 1.3%** | **Materials — 1.3%** |
| *Chemicals — 0.3%* | *Chemicals — 0.3%* | *Chemicals — 0.3%* | *Chemicals — 0.3%* | *Chemicals — 0.3%* |
| &nbsp;&nbsp;&nbsp; OCP SA, Senior Notes | &nbsp;&nbsp; 6.750% | &nbsp;&nbsp; 5/2/34 | &nbsp;&nbsp; 4110000<br>| &nbsp;&nbsp;&nbsp;&nbsp; *4279813*<br> <sup>(a)</sup><br>|
| *Construction Materials — 0.1%* | *Construction Materials — 0.1%* | *Construction Materials — 0.1%* | *Construction Materials — 0.1%* | *Construction Materials — 0.1%* |
| &nbsp;&nbsp;&nbsp; Amrize Finance US LLC, Senior Notes | &nbsp;&nbsp; 4.950% | &nbsp;&nbsp; 4/7/30 | &nbsp;&nbsp; 290000<br>| &nbsp;&nbsp;&nbsp; 293302<br>|
| &nbsp;&nbsp;&nbsp; Amrize Finance US LLC, Senior Notes | &nbsp;&nbsp; 5.400% | &nbsp;&nbsp; 4/7/35 | &nbsp;&nbsp; 650000<br>| &nbsp;&nbsp;&nbsp; 661246<br>|
| *Total Construction Materials* | *Total Construction Materials* | *Total Construction Materials* | *Total Construction Materials* | &nbsp;&nbsp; *954548* |
| *Metals & Mining — 0.7%* | *Metals & Mining — 0.7%* | *Metals & Mining — 0.7%* | *Metals & Mining — 0.7%* | *Metals & Mining — 0.7%* |
| &nbsp;&nbsp;&nbsp; Anglo American Capital PLC, Senior Notes | &nbsp;&nbsp; 5.250% | &nbsp;&nbsp; 3/19/36 | &nbsp;&nbsp; 990000<br>| &nbsp;&nbsp;&nbsp; 968436<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Barrick PD Australia Finance Pty Ltd., Senior Notes | &nbsp;&nbsp; 5.950% | &nbsp;&nbsp; 10/15/39 | &nbsp;&nbsp; 1628000<br>| &nbsp;&nbsp;&nbsp; 1671025<br>|
| &nbsp;&nbsp;&nbsp; Corp. Nacional del Cobre de Chile, Senior Notes | &nbsp;&nbsp; 5.529% | &nbsp;&nbsp; 1/30/37 | &nbsp;&nbsp; 3570000<br>| &nbsp;&nbsp;&nbsp; 3508667<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Freeport-McMoRan Inc., Senior Notes | &nbsp;&nbsp; 5.400% | &nbsp;&nbsp; 11/14/34 | &nbsp;&nbsp; 1404000<br>| &nbsp;&nbsp;&nbsp; 1425385<br>|
| &nbsp;&nbsp;&nbsp; Freeport-McMoRan Inc., Senior Notes | &nbsp;&nbsp; 5.450% | &nbsp;&nbsp; 3/15/43 | &nbsp;&nbsp; 650000<br>| &nbsp;&nbsp;&nbsp; 615480<br>|
| &nbsp;&nbsp;&nbsp; Glencore Funding LLC, Senior Notes | &nbsp;&nbsp; 4.000% | &nbsp;&nbsp; 3/27/27 | &nbsp;&nbsp; 7000<br>| &nbsp;&nbsp;&nbsp; 6971<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Glencore Funding LLC, Senior Notes | &nbsp;&nbsp; 5.673% | &nbsp;&nbsp; 4/1/35 | &nbsp;&nbsp; 1980000<br>| &nbsp;&nbsp;&nbsp; 2023562<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Glencore Funding LLC, Senior Notes | &nbsp;&nbsp; 6.141% | &nbsp;&nbsp; 4/1/55 | &nbsp;&nbsp; 1030000<br>| &nbsp;&nbsp;&nbsp; 1036931<br> <sup>(a)</sup><br>|

---

See Notes to Schedule of Investments.

------

Western Asset Core Bond Fund 2026 Quarterly Report

------

Schedule of Investments (unaudited) (cont'd)

March 31, 2026

 **Western Asset Core Bond Fund**

(Percentages shown based on Fund net assets)

---

| | | | | |
|:---|:---|:---|:---|:---|
| Security | Rate | &nbsp;&nbsp; Maturity<br> Date<br>| &nbsp;&nbsp; Face<br> Amount<br>| Value |
| *Metals & Mining — continued* | *Metals & Mining — continued* | *Metals & Mining — continued* | *Metals & Mining — continued* | *Metals & Mining — continued* |
| &nbsp;&nbsp;&nbsp; Southern Copper Corp., Senior Notes | &nbsp;&nbsp; 7.500% | &nbsp;&nbsp; 7/27/35 | &nbsp;&nbsp; $1530000<br>| &nbsp;&nbsp;&nbsp; $1750571<br>|
| *Total Metals & Mining* | *Total Metals & Mining* | *Total Metals & Mining* | *Total Metals & Mining* | &nbsp;&nbsp; *13007028* |
| *Paper & Forest Products — 0.2%* | *Paper & Forest Products — 0.2%* | *Paper & Forest Products — 0.2%* | *Paper & Forest Products — 0.2%* | *Paper & Forest Products — 0.2%* |
| &nbsp;&nbsp;&nbsp; Suzano Austria GmbH, Senior Notes | &nbsp;&nbsp; 3.125% | &nbsp;&nbsp; 1/15/32 | &nbsp;&nbsp; 3170000<br>| &nbsp;&nbsp;&nbsp; 2791728<br>|
| &nbsp;&nbsp;&nbsp; Suzano Netherlands BV, Senior Notes | &nbsp;&nbsp; 5.500% | &nbsp;&nbsp; 1/15/36 | &nbsp;&nbsp; 950000<br>| &nbsp;&nbsp;&nbsp; 919719<br>|
| *Total Paper & Forest Products* | *Total Paper & Forest Products* | *Total Paper & Forest Products* | *Total Paper & Forest Products* | &nbsp;&nbsp; *3711447* |
| **Total Materials** | **Total Materials** | **Total Materials** | **Total Materials** | &nbsp;&nbsp; **21952836** |
| **Real Estate — 0.0%††** | **Real Estate — 0.0%††** | **Real Estate — 0.0%††** | **Real Estate — 0.0%††** | **Real Estate — 0.0%††** |
| *Retail REITs — 0.0%††* | *Retail REITs — 0.0%††* | *Retail REITs — 0.0%††* | *Retail REITs — 0.0%††* | *Retail REITs — 0.0%††* |
| &nbsp;&nbsp;&nbsp; WEA Finance LLC/Westfield UK & Europe Finance PLC, Senior Notes | &nbsp;&nbsp; 4.750% | &nbsp;&nbsp; 9/17/44 | &nbsp;&nbsp; 403000<br>| &nbsp;&nbsp;&nbsp;&nbsp; **337442**<br> <sup>(a)</sup><br>|
| **Utilities — 1.9%** | **Utilities — 1.9%** | **Utilities — 1.9%** | **Utilities — 1.9%** | **Utilities — 1.9%** |
| *Electric Utilities — 1.8%* | *Electric Utilities — 1.8%* | *Electric Utilities — 1.8%* | *Electric Utilities — 1.8%* | *Electric Utilities — 1.8%* |
| &nbsp;&nbsp;&nbsp; American Transmission Systems Inc., Senior Notes | &nbsp;&nbsp; 2.650% | &nbsp;&nbsp; 1/15/32 | &nbsp;&nbsp; 2180000<br>| &nbsp;&nbsp;&nbsp; 1954319<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Cleveland Electric Illuminating Co., Senior Notes | &nbsp;&nbsp; 3.500% | &nbsp;&nbsp; 4/1/28 | &nbsp;&nbsp; 405000<br>| &nbsp;&nbsp;&nbsp; 396841<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Comision Federal de Electricidad, Senior Notes | &nbsp;&nbsp; 3.875% | &nbsp;&nbsp; 7/26/33 | &nbsp;&nbsp; 7325000<br>| &nbsp;&nbsp;&nbsp; 6277961<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Constellation Energy Generation LLC, Senior Notes | &nbsp;&nbsp; 3.900% | &nbsp;&nbsp; 1/8/28 | &nbsp;&nbsp; 650000<br>| &nbsp;&nbsp;&nbsp; 645081<br>|
| &nbsp;&nbsp;&nbsp; Constellation Energy Generation LLC, Senior Notes | &nbsp;&nbsp; 4.400% | &nbsp;&nbsp; 1/15/31 | &nbsp;&nbsp; 260000<br>| &nbsp;&nbsp;&nbsp; 256718<br>|
| &nbsp;&nbsp;&nbsp; Exelon Corp., Senior Notes | &nbsp;&nbsp; 5.625% | &nbsp;&nbsp; 6/15/35 | &nbsp;&nbsp; 660000<br>| &nbsp;&nbsp;&nbsp; 676052<br>|
| &nbsp;&nbsp;&nbsp; FirstEnergy Corp., Senior Notes | &nbsp;&nbsp; 3.900% | &nbsp;&nbsp; 7/15/27 | &nbsp;&nbsp; 5232000<br>| &nbsp;&nbsp;&nbsp; 5190684<br>|
| &nbsp;&nbsp;&nbsp; Georgia Power Co., Senior Notes | &nbsp;&nbsp; 5.200% | &nbsp;&nbsp; 3/15/35 | &nbsp;&nbsp; 1170000<br>| &nbsp;&nbsp;&nbsp; 1188923<br>|
| &nbsp;&nbsp;&nbsp; Mid-Atlantic Interstate Transmission LLC, Senior Notes | &nbsp;&nbsp; 4.100% | &nbsp;&nbsp; 5/15/28 | &nbsp;&nbsp; 1594000<br>| &nbsp;&nbsp;&nbsp; 1585995<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; NRG Energy Inc., Senior Secured Notes | &nbsp;&nbsp; 5.407% | &nbsp;&nbsp; 10/15/35 | &nbsp;&nbsp; 800000<br>| &nbsp;&nbsp;&nbsp; 785232<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Oglethorpe Power Corp., First Mortgage Bonds | &nbsp;&nbsp; 5.900% | &nbsp;&nbsp; 2/1/55 | &nbsp;&nbsp; 1160000<br>| &nbsp;&nbsp;&nbsp; 1131355<br>|
| &nbsp;&nbsp;&nbsp; Oncor Electric Delivery Co. LLC, Senior Secured Notes | &nbsp;&nbsp; 5.350% | &nbsp;&nbsp; 4/1/35 | &nbsp;&nbsp; 630000<br>| &nbsp;&nbsp;&nbsp; 644085<br>|
| &nbsp;&nbsp;&nbsp; Oncor Electric Delivery Co. LLC, Senior Secured Notes | &nbsp;&nbsp; 5.800% | &nbsp;&nbsp; 4/1/55 | &nbsp;&nbsp; 790000<br>| &nbsp;&nbsp;&nbsp; 782422<br>|
| &nbsp;&nbsp;&nbsp; Pacific Gas and Electric Co., First Mortgage Bonds | &nbsp;&nbsp; 2.100% | &nbsp;&nbsp; 8/1/27 | &nbsp;&nbsp; 2130000<br>| &nbsp;&nbsp;&nbsp; 2065150<br>|
| &nbsp;&nbsp;&nbsp; Pacific Gas and Electric Co., First Mortgage Bonds | &nbsp;&nbsp; 2.500% | &nbsp;&nbsp; 2/1/31 | &nbsp;&nbsp; 1930000<br>| &nbsp;&nbsp;&nbsp; 1730208<br>|
| &nbsp;&nbsp;&nbsp; Pacific Gas and Electric Co., First Mortgage Bonds | &nbsp;&nbsp; 3.300% | &nbsp;&nbsp; 8/1/40 | &nbsp;&nbsp; 830000<br>| &nbsp;&nbsp;&nbsp; 621246<br>|
| &nbsp;&nbsp;&nbsp; Pacific Gas and Electric Co., First Mortgage Bonds | &nbsp;&nbsp; 3.500% | &nbsp;&nbsp; 8/1/50 | &nbsp;&nbsp; 1690000<br>| &nbsp;&nbsp;&nbsp; 1118337<br>|
| &nbsp;&nbsp;&nbsp; RWE Finance US LLC, Senior Notes | &nbsp;&nbsp; 5.125% | &nbsp;&nbsp; 9/18/35 | &nbsp;&nbsp; 2180000<br>| &nbsp;&nbsp;&nbsp; 2120463<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Southern California Edison Co., First Mortgage Bonds | &nbsp;&nbsp; 4.125% | &nbsp;&nbsp; 3/1/48 | &nbsp;&nbsp; 1270000<br>| &nbsp;&nbsp;&nbsp; 951500<br>|
| &nbsp;&nbsp;&nbsp; Vistra Operations Co. LLC, Senior Secured Notes | &nbsp;&nbsp; 5.350% | &nbsp;&nbsp; 1/31/36 | &nbsp;&nbsp; 1570000<br>| &nbsp;&nbsp;&nbsp; 1536816<br> <sup>(a)</sup><br>|
| *Total Electric Utilities* | *Total Electric Utilities* | *Total Electric Utilities* | *Total Electric Utilities* | &nbsp;&nbsp; *31659388* |
| *Gas Utilities — 0.1%* | *Gas Utilities — 0.1%* | *Gas Utilities — 0.1%* | *Gas Utilities — 0.1%* | *Gas Utilities — 0.1%* |
| &nbsp;&nbsp;&nbsp; Snam SpA, Senior Notes | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 5/28/30 | &nbsp;&nbsp; 650000<br>| &nbsp;&nbsp;&nbsp; 656941<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Snam SpA, Senior Notes | &nbsp;&nbsp; 5.750% | &nbsp;&nbsp; 5/28/35 | &nbsp;&nbsp; 1000000<br>| &nbsp;&nbsp;&nbsp; 1020243<br> <sup>(a)</sup><br>|
| *Total Gas Utilities* | *Total Gas Utilities* | *Total Gas Utilities* | *Total Gas Utilities* | &nbsp;&nbsp; *1677184* |
| *Multi-Utilities — 0.0%††* | *Multi-Utilities — 0.0%††* | *Multi-Utilities — 0.0%††* | *Multi-Utilities — 0.0%††* | *Multi-Utilities — 0.0%††* |
| &nbsp;&nbsp;&nbsp; Consolidated Edison Co. of New York Inc., Senior Notes | &nbsp;&nbsp; 3.350% | &nbsp;&nbsp; 4/1/30 | &nbsp;&nbsp; 10000<br>| &nbsp;&nbsp;&nbsp; 9596<br>|
| &nbsp;&nbsp;&nbsp; Consolidated Edison Co. of New York Inc., Senior Notes | &nbsp;&nbsp; 3.950% | &nbsp;&nbsp; 4/1/50 | &nbsp;&nbsp; 1210000<br>| &nbsp;&nbsp;&nbsp; 929198<br>|
| *Total Multi-Utilities* | *Total Multi-Utilities* | *Total Multi-Utilities* | *Total Multi-Utilities* | &nbsp;&nbsp; *938794* |
| **Total Utilities** | **Total Utilities** | **Total Utilities** | **Total Utilities** | &nbsp;&nbsp; **34275366** |
| **Total Corporate Bonds & Notes (Cost — $624,433,895)** | **Total Corporate Bonds & Notes (Cost — $624,433,895)** | **Total Corporate Bonds & Notes (Cost — $624,433,895)** | **Total Corporate Bonds & Notes (Cost — $624,433,895)** | &nbsp;&nbsp; **599638497** |
| **Mortgage-Backed Securities — 24.9%** | **Mortgage-Backed Securities — 24.9%** | **Mortgage-Backed Securities — 24.9%** | **Mortgage-Backed Securities — 24.9%** | **Mortgage-Backed Securities — 24.9%** |
| *FHLMC — 5.8%* | *FHLMC — 5.8%* | *FHLMC — 5.8%* | *FHLMC — 5.8%* | *FHLMC — 5.8%* |
| &nbsp;&nbsp;&nbsp; Federal Home Loan Mortgage Corp. (FHLMC) | &nbsp;&nbsp; 4.600% | &nbsp;&nbsp; 3/1/35 | &nbsp;&nbsp; 1400000<br>| &nbsp;&nbsp;&nbsp; 1394790<br>|

---

See Notes to Schedule of Investments.

------

Western Asset Core Bond Fund 2026 Quarterly Report

------

 **Western Asset Core Bond Fund**

(Percentages shown based on Fund net assets)

---

| | | | | |
|:---|:---|:---|:---|:---|
| Security | Rate | &nbsp;&nbsp; Maturity<br> Date<br>| &nbsp;&nbsp; Face<br> Amount<br>| Value |
| *FHLMC — continued* | *FHLMC — continued* | *FHLMC — continued* | *FHLMC — continued* | *FHLMC — continued* |
| &nbsp;&nbsp;&nbsp; Federal Home Loan Mortgage Corp. (FHLMC) | &nbsp;&nbsp; 2.000% | &nbsp;&nbsp; 10/1/40- <br>4/1/51<br>| &nbsp;&nbsp; $29160688 | &nbsp;&nbsp;&nbsp; $25029444<br>|
| &nbsp;&nbsp;&nbsp; Federal Home Loan Mortgage Corp. (FHLMC) | &nbsp;&nbsp; 1.500% | &nbsp;&nbsp; 11/1/40 | &nbsp;&nbsp; 6570850<br>| &nbsp;&nbsp;&nbsp; 5605433<br>|
| &nbsp;&nbsp;&nbsp; Federal Home Loan Mortgage Corp. (FHLMC) | &nbsp;&nbsp; 3.500% | &nbsp;&nbsp; 6/1/46- <br>12/1/50<br>| &nbsp;&nbsp; 6624070 | &nbsp;&nbsp;&nbsp; 6179182<br>|
| &nbsp;&nbsp;&nbsp; Federal Home Loan Mortgage Corp. (FHLMC) | &nbsp;&nbsp; 3.000% | &nbsp;&nbsp; 1/1/50 | &nbsp;&nbsp; 332256<br>| &nbsp;&nbsp;&nbsp; 298866<br>|
| &nbsp;&nbsp;&nbsp; Federal Home Loan Mortgage Corp. (FHLMC) | &nbsp;&nbsp; 2.500% | &nbsp;&nbsp; 7/1/50- <br>1/1/52<br>| &nbsp;&nbsp; 25914459 | &nbsp;&nbsp;&nbsp; 22347508<br>|
| &nbsp;&nbsp;&nbsp; Federal Home Loan Mortgage Corp. (FHLMC) | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 9/1/52- <br>4/1/53<br>| &nbsp;&nbsp; 2508356 | &nbsp;&nbsp;&nbsp; 2503486<br>|
| &nbsp;&nbsp;&nbsp; Federal Home Loan Mortgage Corp. (FHLMC) | &nbsp;&nbsp; 5.500% | &nbsp;&nbsp; 1/1/53- <br>4/1/54<br>| &nbsp;&nbsp; 12746615 | &nbsp;&nbsp;&nbsp; 12972980<br>|
| &nbsp;&nbsp;&nbsp; Federal Home Loan Mortgage Corp. (FHLMC) | &nbsp;&nbsp; 6.500% | &nbsp;&nbsp; 5/1/53- <br>8/1/55<br>| &nbsp;&nbsp; 7083650 | &nbsp;&nbsp;&nbsp; 7383484<br>|
| &nbsp;&nbsp;&nbsp; Federal Home Loan Mortgage Corp. (FHLMC) | &nbsp;&nbsp; 6.000% | &nbsp;&nbsp; 9/1/53- <br>1/1/55<br>| &nbsp;&nbsp; 5472403 | &nbsp;&nbsp;&nbsp; 5669170<br>|
| &nbsp;&nbsp;&nbsp; Federal Home Loan Mortgage Corp. (FHLMC) (1 year FTSE USD IBOR Consumer <br> Cash Fallbacks + 1.627%) | &nbsp;&nbsp; 3.007% | &nbsp;&nbsp; 11/1/48 | &nbsp;&nbsp; 8327737<br>| &nbsp;&nbsp;&nbsp; 8344672<br> <sup>(c)</sup><br>|
| &nbsp;&nbsp;&nbsp; Federal Home Loan Mortgage Corp. (FHLMC) Gold | &nbsp;&nbsp; 6.500% | &nbsp;&nbsp; 6/1/32 | &nbsp;&nbsp; 421<br>| &nbsp;&nbsp;&nbsp; 436<br>|
| &nbsp;&nbsp;&nbsp; Federal Home Loan Mortgage Corp. (FHLMC) Gold | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 8/1/33 | &nbsp;&nbsp; 41612 | &nbsp;&nbsp;&nbsp; 41739<br>|
| &nbsp;&nbsp;&nbsp; Federal Home Loan Mortgage Corp. (FHLMC) Gold | &nbsp;&nbsp; 5.500% | &nbsp;&nbsp; 4/1/35 | &nbsp;&nbsp; 71816<br>| &nbsp;&nbsp;&nbsp; 73537<br>|
| &nbsp;&nbsp;&nbsp; Federal Home Loan Mortgage Corp. (FHLMC) Gold | &nbsp;&nbsp; 4.000% | &nbsp;&nbsp; 11/1/41 | &nbsp;&nbsp; 513440<br>| &nbsp;&nbsp;&nbsp; 496787<br>|
| &nbsp;&nbsp;&nbsp; Federal Home Loan Mortgage Corp. (FHLMC) Gold | &nbsp;&nbsp; 3.000% | &nbsp;&nbsp; 9/1/48 | &nbsp;&nbsp; 4294439<br>| &nbsp;&nbsp;&nbsp; 3893380<br>|
| *Total FHLMC* | *Total FHLMC* | *Total FHLMC* | *Total FHLMC* | &nbsp;&nbsp; *102234894* |
| *FNMA — 12.2%* | *FNMA — 12.2%* | *FNMA — 12.2%* | *FNMA — 12.2%* | *FNMA — 12.2%* |
| &nbsp;&nbsp;&nbsp; Federal National Mortgage Association (FNMA) | &nbsp;&nbsp; 6.000% | &nbsp;&nbsp; 12/1/31- <br>9/1/55<br>| &nbsp;&nbsp; 17829412 | &nbsp;&nbsp;&nbsp; 18307135<br>|
| &nbsp;&nbsp;&nbsp; Federal National Mortgage Association (FNMA) | &nbsp;&nbsp; 6.500% | &nbsp;&nbsp; 2/1/32- <br>7/1/55<br>| &nbsp;&nbsp; 3179322 | &nbsp;&nbsp;&nbsp; 3309480<br>|
| &nbsp;&nbsp;&nbsp; Federal National Mortgage Association (FNMA) | &nbsp;&nbsp; 4.350% | &nbsp;&nbsp; 10/1/34 | &nbsp;&nbsp; 800000<br>| &nbsp;&nbsp;&nbsp; 791635<br>|
| &nbsp;&nbsp;&nbsp; Federal National Mortgage Association (FNMA) | &nbsp;&nbsp; 3.000% | &nbsp;&nbsp; 7/1/35- <br>1/1/52<br>| &nbsp;&nbsp; 46480955 | &nbsp;&nbsp;&nbsp; 42569830<br>|
| &nbsp;&nbsp;&nbsp; Federal National Mortgage Association (FNMA) | &nbsp;&nbsp; 4.360% | &nbsp;&nbsp; 12/1/35 | &nbsp;&nbsp; 900000<br>| &nbsp;&nbsp;&nbsp; 882485<br>|
| &nbsp;&nbsp;&nbsp; Federal National Mortgage Association (FNMA) | &nbsp;&nbsp; 2.500% | &nbsp;&nbsp; 9/1/36- <br>3/1/52<br>| &nbsp;&nbsp; 27154643 | &nbsp;&nbsp;&nbsp; 23953318<br>|
| &nbsp;&nbsp;&nbsp; Federal National Mortgage Association (FNMA) | &nbsp;&nbsp; 5.500% | &nbsp;&nbsp; 5/1/37- <br>9/1/56<br>| &nbsp;&nbsp; 11817566 | &nbsp;&nbsp;&nbsp; 12013399<br>|
| &nbsp;&nbsp;&nbsp; Federal National Mortgage Association (FNMA) | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 1/1/39- <br>7/1/53<br>| &nbsp;&nbsp; 17034175 | &nbsp;&nbsp;&nbsp; 17098896<br>|
| &nbsp;&nbsp;&nbsp; Federal National Mortgage Association (FNMA) | &nbsp;&nbsp; 2.000% | &nbsp;&nbsp; 8/1/40- <br>2/1/52<br>| &nbsp;&nbsp; 28474142 | &nbsp;&nbsp;&nbsp; 24258450<br>|
| &nbsp;&nbsp;&nbsp; Federal National Mortgage Association (FNMA) | &nbsp;&nbsp; 1.500% | &nbsp;&nbsp; 4/1/41 | &nbsp;&nbsp; 2978691<br>| &nbsp;&nbsp;&nbsp; 2536096<br>|
| &nbsp;&nbsp;&nbsp; Federal National Mortgage Association (FNMA) | &nbsp;&nbsp; 3.500% | &nbsp;&nbsp; 4/1/43- <br>12/1/51<br>| &nbsp;&nbsp; 13393953 | &nbsp;&nbsp;&nbsp; 12558755<br>|
| &nbsp;&nbsp;&nbsp; Federal National Mortgage Association (FNMA) | &nbsp;&nbsp; 4.000% | &nbsp;&nbsp; 9/1/43- <br>2/1/56<br>| &nbsp;&nbsp; 25572404 | &nbsp;&nbsp;&nbsp; 24387877<br>|
| &nbsp;&nbsp;&nbsp; Federal National Mortgage Association (FNMA) | &nbsp;&nbsp; 4.500% | &nbsp;&nbsp; 4/1/44- <br>8/1/58<br>| &nbsp;&nbsp; 14518902 | &nbsp;&nbsp;&nbsp; 14278610<br>|

---

See Notes to Schedule of Investments.

------

Western Asset Core Bond Fund 2026 Quarterly Report

------

Schedule of Investments (unaudited) (cont'd)

March 31, 2026

 **Western Asset Core Bond Fund**

(Percentages shown based on Fund net assets)

---

| | | | | |
|:---|:---|:---|:---|:---|
| Security | Rate | &nbsp;&nbsp; Maturity<br> Date<br>| &nbsp;&nbsp; Face<br> Amount<br>| Value |
| *FNMA — continued* | *FNMA — continued* | *FNMA — continued* | *FNMA — continued* | *FNMA — continued* |
| &nbsp;&nbsp;&nbsp; Federal National Mortgage Association (FNMA) | &nbsp;&nbsp; 4.500% | &nbsp;&nbsp; 4/1/56 | &nbsp;&nbsp; $500000<br>| &nbsp;&nbsp;&nbsp; $482620<br> <sup>(d)</sup><br>|
| &nbsp;&nbsp;&nbsp; Federal National Mortgage Association (FNMA) | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 4/1/56 | &nbsp;&nbsp; 12800000<br>| &nbsp;&nbsp;&nbsp; 12625421<br> <sup>(d)</sup><br>|
| &nbsp;&nbsp;&nbsp; Federal National Mortgage Association (FNMA) | &nbsp;&nbsp; 5.500% | &nbsp;&nbsp; 4/1/56 | &nbsp;&nbsp; 4800000<br>| &nbsp;&nbsp;&nbsp; 4822858<br> <sup>(d)</sup><br>|
| &nbsp;&nbsp;&nbsp; Federal National Mortgage Association (FNMA) | &nbsp;&nbsp; 6.500% | &nbsp;&nbsp; 4/1/56 | &nbsp;&nbsp; 200000<br>| &nbsp;&nbsp;&nbsp; 206932<br> <sup>(d)</sup><br>|
| &nbsp;&nbsp;&nbsp; Federal National Mortgage Association (FNMA) (12 mo. Moving Treasury Average <br> + 1.827%) | &nbsp;&nbsp; 5.752% | &nbsp;&nbsp; 11/1/35 | &nbsp;&nbsp; 75368<br>| &nbsp;&nbsp;&nbsp; 76787<br> <sup>(c)</sup><br>|
| *Total FNMA* | *Total FNMA* | *Total FNMA* | *Total FNMA* | &nbsp;&nbsp; *215160584* |
| *GNMA — 6.9%* | *GNMA — 6.9%* | *GNMA — 6.9%* | *GNMA — 6.9%* | *GNMA — 6.9%* |
| &nbsp;&nbsp;&nbsp; Government National Mortgage Association (GNMA) | &nbsp;&nbsp; 6.500% | &nbsp;&nbsp; 3/15/28- <br>8/15/34<br>| &nbsp;&nbsp; 613320 | &nbsp;&nbsp;&nbsp; 633471<br>|
| &nbsp;&nbsp;&nbsp; Government National Mortgage Association (GNMA) | &nbsp;&nbsp; 6.000% | &nbsp;&nbsp; 12/15/28- <br>6/15/35<br>| &nbsp;&nbsp; 497202 | &nbsp;&nbsp;&nbsp; 509541<br>|
| &nbsp;&nbsp;&nbsp; Government National Mortgage Association (GNMA) | &nbsp;&nbsp; 5.500% | &nbsp;&nbsp; 2/15/35- <br>6/15/36<br>| &nbsp;&nbsp; 46310 | &nbsp;&nbsp;&nbsp; 47757<br>|
| &nbsp;&nbsp;&nbsp; Government National Mortgage Association (GNMA) | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 1/15/40 | &nbsp;&nbsp; 11579 | &nbsp;&nbsp;&nbsp; 11827<br>|
| &nbsp;&nbsp;&nbsp; Government National Mortgage Association (GNMA) | &nbsp;&nbsp; 3.000% | &nbsp;&nbsp; 9/15/42- <br>10/15/42<br>| &nbsp;&nbsp; 3725037 | &nbsp;&nbsp;&nbsp; 3408388<br>|
| &nbsp;&nbsp;&nbsp; Government National Mortgage Association (GNMA) | &nbsp;&nbsp; 4.000% | &nbsp;&nbsp; 3/15/50 | &nbsp;&nbsp; 225732<br>| &nbsp;&nbsp;&nbsp; 213364<br>|
| &nbsp;&nbsp;&nbsp; Government National Mortgage Association (GNMA) | &nbsp;&nbsp; 3.500% | &nbsp;&nbsp; 5/15/50 | &nbsp;&nbsp; 1659068<br>| &nbsp;&nbsp;&nbsp; 1528476<br>|
| &nbsp;&nbsp;&nbsp; Government National Mortgage Association (GNMA) II | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 7/20/40- <br>5/20/53<br>| &nbsp;&nbsp; 6126744 | &nbsp;&nbsp;&nbsp; 6120808<br>|
| &nbsp;&nbsp;&nbsp; Government National Mortgage Association (GNMA) II | &nbsp;&nbsp; 3.500% | &nbsp;&nbsp; 9/20/46- <br>10/20/49<br>| &nbsp;&nbsp; 9546290 | &nbsp;&nbsp;&nbsp; 8866745<br>|
| &nbsp;&nbsp;&nbsp; Government National Mortgage Association (GNMA) II | &nbsp;&nbsp; 4.000% | &nbsp;&nbsp; 2/20/48- <br>4/20/50<br>| &nbsp;&nbsp; 7888594 | &nbsp;&nbsp;&nbsp; 7418899<br>|
| &nbsp;&nbsp;&nbsp; Government National Mortgage Association (GNMA) II | &nbsp;&nbsp; 3.000% | &nbsp;&nbsp; 1/20/50- <br>6/20/51<br>| &nbsp;&nbsp; 13356389 | &nbsp;&nbsp;&nbsp; 11808278<br>|
| &nbsp;&nbsp;&nbsp; Government National Mortgage Association (GNMA) II | &nbsp;&nbsp; 2.500% | &nbsp;&nbsp; 12/20/50- <br>12/20/51<br>| &nbsp;&nbsp; 9769448 | &nbsp;&nbsp;&nbsp; 8380326<br>|
| &nbsp;&nbsp;&nbsp; Government National Mortgage Association (GNMA) II | &nbsp;&nbsp; 2.000% | &nbsp;&nbsp; 3/20/51 | &nbsp;&nbsp; 9999302<br>| &nbsp;&nbsp;&nbsp; 8137759<br>|
| &nbsp;&nbsp;&nbsp; Government National Mortgage Association (GNMA) II | &nbsp;&nbsp; 4.500% | &nbsp;&nbsp; 8/20/52- <br>9/20/52<br>| &nbsp;&nbsp; 11733783 | &nbsp;&nbsp;&nbsp; 11429170<br>|
| &nbsp;&nbsp;&nbsp; Government National Mortgage Association (GNMA) II | &nbsp;&nbsp; 5.500% | &nbsp;&nbsp; 7/20/53- <br>8/20/53<br>| &nbsp;&nbsp; 9671468 | &nbsp;&nbsp;&nbsp; 9838515<br>|
| &nbsp;&nbsp;&nbsp; Government National Mortgage Association (GNMA) II | &nbsp;&nbsp; 6.000% | &nbsp;&nbsp; 1/20/54 | &nbsp;&nbsp; 9038713<br>| &nbsp;&nbsp;&nbsp; 9387568<br>|
| &nbsp;&nbsp;&nbsp; Government National Mortgage Association (GNMA) II | &nbsp;&nbsp; 2.000% | &nbsp;&nbsp; 4/1/56 | &nbsp;&nbsp; 6400000<br>| &nbsp;&nbsp;&nbsp; 5288500<br> <sup>(d)</sup><br>|
| &nbsp;&nbsp;&nbsp; Government National Mortgage Association (GNMA) II | &nbsp;&nbsp; 2.500% | &nbsp;&nbsp; 4/1/56 | &nbsp;&nbsp; 9200000<br>| &nbsp;&nbsp;&nbsp; 7916312<br> <sup>(d)</sup><br>|
| &nbsp;&nbsp;&nbsp; Government National Mortgage Association (GNMA) II | &nbsp;&nbsp; 3.000% | &nbsp;&nbsp; 4/1/56 | &nbsp;&nbsp; 3200000<br>| &nbsp;&nbsp;&nbsp; 2857299<br> <sup>(d)</sup><br>|
| &nbsp;&nbsp;&nbsp; Government National Mortgage Association (GNMA) II | &nbsp;&nbsp; 4.000% | &nbsp;&nbsp; 4/1/56 | &nbsp;&nbsp; 600000<br>| &nbsp;&nbsp;&nbsp; 562133<br> <sup>(d)</sup><br>|
| &nbsp;&nbsp;&nbsp; Government National Mortgage Association (GNMA) II | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 4/1/56 | &nbsp;&nbsp; 6800000<br>| &nbsp;&nbsp;&nbsp; 6735650<br> <sup>(d)</sup><br>|
| &nbsp;&nbsp;&nbsp; Government National Mortgage Association (GNMA) II | &nbsp;&nbsp; 5.500% | &nbsp;&nbsp; 4/1/56 | &nbsp;&nbsp; 11000000<br>| &nbsp;&nbsp;&nbsp; 11071775<br> <sup>(d)</sup><br>|
| *Total GNMA* | *Total GNMA* | *Total GNMA* | *Total GNMA* | &nbsp;&nbsp; *122172561* |
| **Total Mortgage-Backed Securities (Cost — $462,159,627)** | **Total Mortgage-Backed Securities (Cost — $462,159,627)** | **Total Mortgage-Backed Securities (Cost — $462,159,627)** | **Total Mortgage-Backed Securities (Cost — $462,159,627)** | &nbsp;&nbsp; **439568039** |
| **Collateralized Mortgage Obligations**<sup>(e)</sup> **— 16.8%** | **Collateralized Mortgage Obligations**<sup>(e)</sup> **— 16.8%** | **Collateralized Mortgage Obligations**<sup>(e)</sup> **— 16.8%** | **Collateralized Mortgage Obligations**<sup>(e)</sup> **— 16.8%** | **Collateralized Mortgage Obligations**<sup>(e)</sup> **— 16.8%** |
| &nbsp;&nbsp;&nbsp; Arbor Realty Commercial Real Estate Notes Ltd., 2022-FL1 A (30 Day Average <br> SOFR + 1.450%) | &nbsp;&nbsp; 5.122% | &nbsp;&nbsp; 1/15/37 | &nbsp;&nbsp; 2852201<br>| &nbsp;&nbsp;&nbsp; 2857849<br> <sup>(a)(c)</sup><br>|
| &nbsp;&nbsp;&nbsp; AREIT LLC, 2022-CRE7 A (1 mo. Term SOFR + 2.242%) | &nbsp;&nbsp; 5.920% | &nbsp;&nbsp; 6/17/39 | &nbsp;&nbsp; 4437334<br>| &nbsp;&nbsp;&nbsp; 4439354<br> <sup>(a)(c)</sup><br>|

---

See Notes to Schedule of Investments.

------

Western Asset Core Bond Fund 2026 Quarterly Report

------

 **Western Asset Core Bond Fund**

(Percentages shown based on Fund net assets)

---

| | | | | |
|:---|:---|:---|:---|:---|
| Security | Rate | &nbsp;&nbsp; Maturity<br> Date<br>| &nbsp;&nbsp; Face<br> Amount<br>| Value |
| **Collateralized Mortgage Obligations**<sup>(e)</sup> **— continued** | **Collateralized Mortgage Obligations**<sup>(e)</sup> **— continued** | **Collateralized Mortgage Obligations**<sup>(e)</sup> **— continued** | **Collateralized Mortgage Obligations**<sup>(e)</sup> **— continued** | **Collateralized Mortgage Obligations**<sup>(e)</sup> **— continued** |
| &nbsp;&nbsp;&nbsp; BANK, 2022-BNK44 A5 | &nbsp;&nbsp; 5.743% | &nbsp;&nbsp; 11/15/55 | &nbsp;&nbsp; $4280000<br>| &nbsp;&nbsp;&nbsp; $4459450<br> <sup>(c)</sup><br>|
| &nbsp;&nbsp;&nbsp; Benchmark Mortgage Trust, 2021-B25 XA, IO | &nbsp;&nbsp; 1.063% | &nbsp;&nbsp; 4/15/54 | &nbsp;&nbsp; 21166440<br>| &nbsp;&nbsp;&nbsp; 855761<br> <sup>(c)</sup><br>|
| &nbsp;&nbsp;&nbsp; BX Commercial Mortgage Trust, 2025-COPT A (1 mo. Term SOFR + 1.750%) | &nbsp;&nbsp; 5.423% | &nbsp;&nbsp; 8/15/42 | &nbsp;&nbsp; 4610000<br>| &nbsp;&nbsp;&nbsp; 4619206<br> <sup>(a)(c)</sup><br>|
| &nbsp;&nbsp;&nbsp; BX Commercial Mortgage Trust, 2026-CSMO A (1 mo. Term SOFR + 1.400%) | &nbsp;&nbsp; 5.073% | &nbsp;&nbsp; 2/15/43 | &nbsp;&nbsp; 2760000<br>| &nbsp;&nbsp;&nbsp; 2764137<br> <sup>(a)(c)</sup><br>|
| &nbsp;&nbsp;&nbsp; BXMT Ltd., 2026-FL6 A (1 mo. Term SOFR + 1.450%) | &nbsp;&nbsp; 5.127% | &nbsp;&nbsp; 8/19/43 | &nbsp;&nbsp; 3330000<br>| &nbsp;&nbsp;&nbsp; 3324077<br> <sup>(a)(c)</sup><br>|
| &nbsp;&nbsp;&nbsp; CIM Trust, 2024-R1 A1 | &nbsp;&nbsp; 4.750% | &nbsp;&nbsp; 6/25/64 | &nbsp;&nbsp; 4558711<br>| &nbsp;&nbsp;&nbsp; 4486379<br> <sup>(a)(c)</sup><br>|
| &nbsp;&nbsp;&nbsp; Citigroup Commercial Mortgage Trust, 2017-P7 B | &nbsp;&nbsp; 4.137% | &nbsp;&nbsp; 4/14/50 | &nbsp;&nbsp; 2624000<br>| &nbsp;&nbsp;&nbsp; 2478325<br> <sup>(c)</sup><br>|
| &nbsp;&nbsp;&nbsp; Citigroup Commercial Mortgage Trust, 2019-C7 A4 | &nbsp;&nbsp; 3.102% | &nbsp;&nbsp; 12/15/72 | &nbsp;&nbsp; 5000000<br>| &nbsp;&nbsp;&nbsp; 4735772<br>|
| &nbsp;&nbsp;&nbsp; Commercial Mortgage Trust, 2020-CX A | &nbsp;&nbsp; 2.173% | &nbsp;&nbsp; 11/10/46 | &nbsp;&nbsp; 4430000<br>| &nbsp;&nbsp;&nbsp; 3778468<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; CRSO Trust, 2023-BRND A | &nbsp;&nbsp; 7.121% | &nbsp;&nbsp; 7/10/40 | &nbsp;&nbsp; 2130000<br>| &nbsp;&nbsp;&nbsp; 2196445<br>|
| &nbsp;&nbsp;&nbsp; CSAIL Commercial Mortgage Trust, 2019-C15 A4 | &nbsp;&nbsp; 4.053% | &nbsp;&nbsp; 3/15/52 | &nbsp;&nbsp; 5333000<br>| &nbsp;&nbsp;&nbsp; 5261859<br>|
| &nbsp;&nbsp;&nbsp; CSMC Trust, 2017-RPL1 M1 | &nbsp;&nbsp; 2.983% | &nbsp;&nbsp; 7/25/57 | &nbsp;&nbsp; 11111850<br>| &nbsp;&nbsp;&nbsp; 9540060<br> <sup>(a)(c)</sup><br>|
| &nbsp;&nbsp;&nbsp; CSMC Trust, 2020-FACT A (1 mo. Term SOFR + 1.964%) | &nbsp;&nbsp; 5.637% | &nbsp;&nbsp; 10/15/37 | &nbsp;&nbsp; 6040000<br>| &nbsp;&nbsp;&nbsp; 5973073<br> <sup>(a)(c)</sup><br>|
| &nbsp;&nbsp;&nbsp; CSMC Trust, 2021-RPL4 A1 | &nbsp;&nbsp; 4.151% | &nbsp;&nbsp; 12/27/60 | &nbsp;&nbsp; 10363296<br>| &nbsp;&nbsp;&nbsp; 10334638<br> <sup>(a)(c)</sup><br>|
| &nbsp;&nbsp;&nbsp; CSMC Trust, 2022-CNTR A (1 mo. Term SOFR + 3.944%) | &nbsp;&nbsp; 7.617% | &nbsp;&nbsp; 1/9/28 | &nbsp;&nbsp; 8764888<br>| &nbsp;&nbsp;&nbsp; 942225<br> <sup>(a)(c)</sup><br>|
| &nbsp;&nbsp;&nbsp; CSMC Trust, 2022-NQM1 A1 | &nbsp;&nbsp; 3.265% | &nbsp;&nbsp; 11/25/66 | &nbsp;&nbsp; 5937178<br>| &nbsp;&nbsp;&nbsp; 5384820<br> <sup>(a)(c)</sup><br>|
| &nbsp;&nbsp;&nbsp; DC Commercial Mortgage Trust, 2023-DC A | &nbsp;&nbsp; 6.314% | &nbsp;&nbsp; 9/12/40 | &nbsp;&nbsp; 5590000<br>| &nbsp;&nbsp;&nbsp; 5702772<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Deutsche Mortgage Securities Inc. Mortgage Loan Trust, 2004-4 7AR2 (1 mo. Term <br> SOFR + 0.564%) | &nbsp;&nbsp; 4.243% | &nbsp;&nbsp; 6/25/34 | &nbsp;&nbsp; 13441<br>| &nbsp;&nbsp;&nbsp; 12857<br> <sup>(c)</sup><br>|
| &nbsp;&nbsp;&nbsp; Ellington Financial Mortgage Trust, 2022-1 A1 | &nbsp;&nbsp; 2.206% | &nbsp;&nbsp; 1/25/67 | &nbsp;&nbsp; 8764457<br>| &nbsp;&nbsp;&nbsp; 7847423<br> <sup>(a)(c)</sup><br>|
| &nbsp;&nbsp;&nbsp; Extended Stay America Trust, 2025-ESH A (1 mo. Term SOFR + 1.300%) | &nbsp;&nbsp; 4.973% | &nbsp;&nbsp; 10/15/42 | &nbsp;&nbsp; 1780000<br>| &nbsp;&nbsp;&nbsp; 1782338<br> <sup>(a)(c)</sup><br>|
| &nbsp;&nbsp;&nbsp; Federal Home Loan Mortgage Corp. (FHLMC) Multiclass Certificates, 2020-RR02 <br> BX, IO | &nbsp;&nbsp; 1.666% | &nbsp;&nbsp; 8/27/28 | &nbsp;&nbsp; 10000000<br>| &nbsp;&nbsp;&nbsp; 326605<br> <sup>(c)</sup><br>|
| &nbsp;&nbsp;&nbsp; Federal Home Loan Mortgage Corp. (FHLMC) Multiclass Certificates, 2020-RR07 <br> AX, IO | &nbsp;&nbsp; 2.468% | &nbsp;&nbsp; 9/27/28 | &nbsp;&nbsp; 9000000<br>| &nbsp;&nbsp;&nbsp; 436406<br> <sup>(c)</sup><br>|
| &nbsp;&nbsp;&nbsp; Federal Home Loan Mortgage Corp. (FHLMC) Multifamily ML Certificates, 2020-<br> ML07 XUS, IO | &nbsp;&nbsp; 1.971% | &nbsp;&nbsp; 10/25/36 | &nbsp;&nbsp; 16208275<br>| &nbsp;&nbsp;&nbsp; 1918087<br> <sup>(a)(c)</sup><br>|
| &nbsp;&nbsp;&nbsp; Federal Home Loan Mortgage Corp. (FHLMC) Multifamily Structured Pass-Through <br> Certificates, K062 X1, IO | &nbsp;&nbsp; 0.272% | &nbsp;&nbsp; 12/25/26 | &nbsp;&nbsp; 238031876<br>| &nbsp;&nbsp;&nbsp; 417913<br> <sup>(c)</sup><br>|
| &nbsp;&nbsp;&nbsp; Federal Home Loan Mortgage Corp. (FHLMC) Multifamily Structured Pass-Through <br> Certificates, K093 X1, IO | &nbsp;&nbsp; 0.938% | &nbsp;&nbsp; 5/25/29 | &nbsp;&nbsp; 18390182<br>| &nbsp;&nbsp;&nbsp; 448149<br> <sup>(c)</sup><br>|
| &nbsp;&nbsp;&nbsp; Federal Home Loan Mortgage Corp. (FHLMC) Multifamily Structured Pass-Through <br> Certificates, K121 X1, IO | &nbsp;&nbsp; 1.012% | &nbsp;&nbsp; 10/25/30 | &nbsp;&nbsp; 1442971<br>| &nbsp;&nbsp;&nbsp; 53319<br> <sup>(c)</sup><br>|
| &nbsp;&nbsp;&nbsp; Federal Home Loan Mortgage Corp. (FHLMC) Multifamily Structured Pass-Through <br> Certificates, K1511 X1, IO | &nbsp;&nbsp; 0.773% | &nbsp;&nbsp; 3/25/34 | &nbsp;&nbsp; 3466726<br>| &nbsp;&nbsp;&nbsp; 149691<br> <sup>(c)</sup><br>|
| &nbsp;&nbsp;&nbsp; Federal Home Loan Mortgage Corp. (FHLMC) Multifamily Structured Pass-Through <br> Certificates, KC05 X1, IO | &nbsp;&nbsp; 1.184% | &nbsp;&nbsp; 6/25/27 | &nbsp;&nbsp; 5410558<br>| &nbsp;&nbsp;&nbsp; 43599<br> <sup>(c)</sup><br>|
| &nbsp;&nbsp;&nbsp; Federal Home Loan Mortgage Corp. (FHLMC) REMIC, 2957 ZA, PAC | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 3/15/35 | &nbsp;&nbsp; 879839<br>| &nbsp;&nbsp;&nbsp; 897577<br>|
| &nbsp;&nbsp;&nbsp; Federal Home Loan Mortgage Corp. (FHLMC) REMIC, 3639 EY | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 2/15/30 | &nbsp;&nbsp; 164007<br>| &nbsp;&nbsp;&nbsp; 165697<br>|
| &nbsp;&nbsp;&nbsp; Federal Home Loan Mortgage Corp. (FHLMC) REMIC, 5129 KI, IO | &nbsp;&nbsp; 4.000% | &nbsp;&nbsp; 11/25/49 | &nbsp;&nbsp; 1416079<br>| &nbsp;&nbsp;&nbsp; 228873<br>|
| &nbsp;&nbsp;&nbsp; Federal Home Loan Mortgage Corp. (FHLMC) REMIC, 5148 BI, IO | &nbsp;&nbsp; 2.500% | &nbsp;&nbsp; 1/25/49 | &nbsp;&nbsp; 12589884<br>| &nbsp;&nbsp;&nbsp; 1856368<br>|
| &nbsp;&nbsp;&nbsp; Federal Home Loan Mortgage Corp. (FHLMC) REMIC, 5168 CI, IO | &nbsp;&nbsp; 4.000% | &nbsp;&nbsp; 11/25/51 | &nbsp;&nbsp; 10682064<br>| &nbsp;&nbsp;&nbsp; 2100737<br>|
| &nbsp;&nbsp;&nbsp; Federal Home Loan Mortgage Corp. (FHLMC) REMIC, 5206 IJ, IO | &nbsp;&nbsp; 4.000% | &nbsp;&nbsp; 4/15/48 | &nbsp;&nbsp; 1788908<br>| &nbsp;&nbsp;&nbsp; 366515<br>|
| &nbsp;&nbsp;&nbsp; Federal Home Loan Mortgage Corp. (FHLMC) REMIC, 5282 GI, IO | &nbsp;&nbsp; 4.000% | &nbsp;&nbsp; 2/25/50 | &nbsp;&nbsp; 3418379<br>| &nbsp;&nbsp;&nbsp; 731685<br>|
| &nbsp;&nbsp;&nbsp; Federal Home Loan Mortgage Corp. (FHLMC) REMIC, 5397 IC, IO | &nbsp;&nbsp; 3.500% | &nbsp;&nbsp; 4/25/52 | &nbsp;&nbsp; 16410274<br>| &nbsp;&nbsp;&nbsp; 2864886<br>|
| &nbsp;&nbsp;&nbsp; Federal Home Loan Mortgage Corp. (FHLMC) REMIC, 5449 FQ (30 Day Average <br> SOFR + 1.500%) | &nbsp;&nbsp; 5.162% | &nbsp;&nbsp; 9/25/54 | &nbsp;&nbsp; 1814213<br>| &nbsp;&nbsp;&nbsp; 1824768<br> <sup>(c)</sup><br>|

---

See Notes to Schedule of Investments.

------

Western Asset Core Bond Fund 2026 Quarterly Report

------

Schedule of Investments (unaudited) (cont'd)

March 31, 2026

 **Western Asset Core Bond Fund**

(Percentages shown based on Fund net assets)

---

| | | | | |
|:---|:---|:---|:---|:---|
| Security | Rate | &nbsp;&nbsp; Maturity<br> Date<br>| &nbsp;&nbsp; Face<br> Amount<br>| Value |
| **Collateralized Mortgage Obligations**<sup>(e)</sup> **— continued** | **Collateralized Mortgage Obligations**<sup>(e)</sup> **— continued** | **Collateralized Mortgage Obligations**<sup>(e)</sup> **— continued** | **Collateralized Mortgage Obligations**<sup>(e)</sup> **— continued** | **Collateralized Mortgage Obligations**<sup>(e)</sup> **— continued** |
| &nbsp;&nbsp;&nbsp; Federal Home Loan Mortgage Corp. (FHLMC) REMIC, 5482 FC (30 Day Average <br> SOFR + 1.300%) | &nbsp;&nbsp; 4.962% | &nbsp;&nbsp; 12/25/54 | &nbsp;&nbsp; $1762897<br>| &nbsp;&nbsp;&nbsp; $1774605<br> <sup>(c)</sup><br>|
| &nbsp;&nbsp;&nbsp; Federal Home Loan Mortgage Corp. (FHLMC) REMIC, Structured Agency Credit Risk <br> Trust, 2021-DNA5 B1 (30 Day Average SOFR + 3.050%) | &nbsp;&nbsp; 6.712% | &nbsp;&nbsp; 1/25/34 | &nbsp;&nbsp; 1315000<br>| &nbsp;&nbsp;&nbsp; 1401844<br> <sup>(a)(c)</sup><br>|
| &nbsp;&nbsp;&nbsp; Federal Home Loan Mortgage Corp. (FHLMC) REMIC, Structured Agency Credit Risk <br> Trust, 2022-DNA3 M1B (30 Day Average SOFR + 2.900%) | &nbsp;&nbsp; 6.562% | &nbsp;&nbsp; 4/25/42 | &nbsp;&nbsp; 8635625<br>| &nbsp;&nbsp;&nbsp; 8794464<br> <sup>(a)(c)</sup><br>|
| &nbsp;&nbsp;&nbsp; Federal Home Loan Mortgage Corp. (FHLMC) Seasoned Credit Risk Transfer Trust, <br> 2024-1 MT | &nbsp;&nbsp; 3.000% | &nbsp;&nbsp; 11/25/63 | &nbsp;&nbsp; 5602837<br>| &nbsp;&nbsp;&nbsp; 4746242<br>|
| &nbsp;&nbsp;&nbsp; Federal Home Loan Mortgage Corp. (FHLMC) STRIPS, 390 C14, IO | &nbsp;&nbsp; 4.000% | &nbsp;&nbsp; 11/15/52 | &nbsp;&nbsp; 4292770<br>| &nbsp;&nbsp;&nbsp; 1062146<br>|
| &nbsp;&nbsp;&nbsp; Federal Home Loan Mortgage Corp. (FHLMC) STRIPS, 390 C17, IO | &nbsp;&nbsp; 4.500% | &nbsp;&nbsp; 11/15/52 | &nbsp;&nbsp; 417588<br>| &nbsp;&nbsp;&nbsp; 108305<br>|
| &nbsp;&nbsp;&nbsp; Federal Home Loan Mortgage Corp. (FHLMC) STRIPS, 400 C1, IO | &nbsp;&nbsp; 1.500% | &nbsp;&nbsp; 2/25/52 | &nbsp;&nbsp; 2602909<br>| &nbsp;&nbsp;&nbsp; 267052<br>|
| &nbsp;&nbsp;&nbsp; Federal Home Loan Mortgage Corp. (FHLMC) Structured Agency Credit Risk, <br> 2026-DNA1 M2 (30 Day Average SOFR + 1.300%) | &nbsp;&nbsp; 4.962% | &nbsp;&nbsp; 2/25/46 | &nbsp;&nbsp; 3680000<br>| &nbsp;&nbsp;&nbsp; 3690355<br> <sup>(a)(c)</sup><br>|
| &nbsp;&nbsp;&nbsp; Federal National Mortgage Association (FNMA) — CAS, 2022-R04 1M2 (30 Day <br> Average SOFR + 3.100%) | &nbsp;&nbsp; 6.762% | &nbsp;&nbsp; 3/25/42 | &nbsp;&nbsp; 5755000<br>| &nbsp;&nbsp;&nbsp; 5837389<br> <sup>(a)(c)</sup><br>|
| &nbsp;&nbsp;&nbsp; Federal National Mortgage Association (FNMA) ACES, 2018-M15 1A2 | &nbsp;&nbsp; 3.700% | &nbsp;&nbsp; 1/25/36 | &nbsp;&nbsp; 3735000<br>| &nbsp;&nbsp;&nbsp; 3523032<br>|
| &nbsp;&nbsp;&nbsp; Federal National Mortgage Association (FNMA) ACES, 2020-M6 A | &nbsp;&nbsp; 2.500% | &nbsp;&nbsp; 10/25/37 | &nbsp;&nbsp; 1236284<br>| &nbsp;&nbsp;&nbsp; 1098818<br>|
| &nbsp;&nbsp;&nbsp; Federal National Mortgage Association (FNMA) ACES, 2020-M54 X, IO | &nbsp;&nbsp; 1.430% | &nbsp;&nbsp; 12/25/33 | &nbsp;&nbsp; 28056460<br>| &nbsp;&nbsp;&nbsp; 1725161<br> <sup>(c)</sup><br>|
| &nbsp;&nbsp;&nbsp; Federal National Mortgage Association (FNMA) REMIC, 2011-59 NZ | &nbsp;&nbsp; 5.500% | &nbsp;&nbsp; 7/25/41 | &nbsp;&nbsp; 296593<br>| &nbsp;&nbsp;&nbsp; 304427<br>|
| &nbsp;&nbsp;&nbsp; Federal National Mortgage Association (FNMA) REMIC, 2012-46 BA | &nbsp;&nbsp; 6.000% | &nbsp;&nbsp; 5/25/42 | &nbsp;&nbsp; 268649<br>| &nbsp;&nbsp;&nbsp; 280940<br>|
| &nbsp;&nbsp;&nbsp; Federal National Mortgage Association (FNMA) REMIC, 2012-118 VZ | &nbsp;&nbsp; 3.000% | &nbsp;&nbsp; 11/25/42 | &nbsp;&nbsp; 5843517<br>| &nbsp;&nbsp;&nbsp; 5358121<br>|
| &nbsp;&nbsp;&nbsp; Federal National Mortgage Association (FNMA) REMIC, 2013-29 QI, IO | &nbsp;&nbsp; 4.000% | &nbsp;&nbsp; 4/25/43 | &nbsp;&nbsp; 615848<br>| &nbsp;&nbsp;&nbsp; 101915<br>|
| &nbsp;&nbsp;&nbsp; Federal National Mortgage Association (FNMA) REMIC, 2015-65 CZ | &nbsp;&nbsp; 3.500% | &nbsp;&nbsp; 9/25/45 | &nbsp;&nbsp; 1592313<br>| &nbsp;&nbsp;&nbsp; 1409826<br>|
| &nbsp;&nbsp;&nbsp; Federal National Mortgage Association (FNMA) REMIC, 2020-45 AI, IO | &nbsp;&nbsp; 4.000% | &nbsp;&nbsp; 7/25/50 | &nbsp;&nbsp; 1236350<br>| &nbsp;&nbsp;&nbsp; 237204<br>|
| &nbsp;&nbsp;&nbsp; Federal National Mortgage Association (FNMA) REMIC, 2021-8 DI, IO, PAC | &nbsp;&nbsp; 3.500% | &nbsp;&nbsp; 3/25/51 | &nbsp;&nbsp; 1813090<br>| &nbsp;&nbsp;&nbsp; 402915<br>|
| &nbsp;&nbsp;&nbsp; Federal National Mortgage Association (FNMA) REMIC, 2024-18 IO, IO | &nbsp;&nbsp; 4.000% | &nbsp;&nbsp; 11/25/49 | &nbsp;&nbsp; 2418103<br>| &nbsp;&nbsp;&nbsp; 416881<br>|
| &nbsp;&nbsp;&nbsp; Federal National Mortgage Association (FNMA) REMIC, 2024-22 IC, IO | &nbsp;&nbsp; 2.500% | &nbsp;&nbsp; 10/25/51 | &nbsp;&nbsp; 10393089<br>| &nbsp;&nbsp;&nbsp; 1407358<br>|
| &nbsp;&nbsp;&nbsp; Federal National Mortgage Association (FNMA) REMIC, 2025-53 FA (30 Day <br> Average SOFR + 1.930%) | &nbsp;&nbsp; 5.592% | &nbsp;&nbsp; 7/25/55 | &nbsp;&nbsp; 82020<br>| &nbsp;&nbsp;&nbsp; 83365<br> <sup>(c)</sup><br>|
| &nbsp;&nbsp;&nbsp; Federal National Mortgage Association (FNMA) STRIPS, 427 C21, IO | &nbsp;&nbsp; 2.000% | &nbsp;&nbsp; 3/25/50 | &nbsp;&nbsp; 20480011<br>| &nbsp;&nbsp;&nbsp; 2555574<br>|
| &nbsp;&nbsp;&nbsp; Federal National Mortgage Association (FNMA) STRIPS, 429 C10, IO | &nbsp;&nbsp; 1.500% | &nbsp;&nbsp; 4/25/37 | &nbsp;&nbsp; 24390262<br>| &nbsp;&nbsp;&nbsp; 1301041<br>|
| &nbsp;&nbsp;&nbsp; FREMF Mortgage Trust, 2019-K103 X2A, IO | &nbsp;&nbsp; 0.100% | &nbsp;&nbsp; 12/25/51 | &nbsp;&nbsp; 337392920<br>| &nbsp;&nbsp;&nbsp; 980936<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; GCAT Trust, 2024-INV3 A17 | &nbsp;&nbsp; 6.500% | &nbsp;&nbsp; 9/25/54 | &nbsp;&nbsp; 3588893<br>| &nbsp;&nbsp;&nbsp; 3664363<br> <sup>(a)(c)</sup><br>|
| &nbsp;&nbsp;&nbsp; Government National Mortgage Association (GNMA), 2013-50 IO, IO | &nbsp;&nbsp; 0.067% | &nbsp;&nbsp; 10/16/48 | &nbsp;&nbsp; 18500139<br>| &nbsp;&nbsp;&nbsp; 34442<br> <sup>(c)</sup><br>|
| &nbsp;&nbsp;&nbsp; Government National Mortgage Association (GNMA), 2013-72 IO, IO | &nbsp;&nbsp; 0.559% | &nbsp;&nbsp; 11/16/47 | &nbsp;&nbsp; 6159651<br>| &nbsp;&nbsp;&nbsp; 120467<br> <sup>(c)</sup><br>|
| &nbsp;&nbsp;&nbsp; Government National Mortgage Association (GNMA), 2013-107 AD | &nbsp;&nbsp; 2.775% | &nbsp;&nbsp; 11/16/47 | &nbsp;&nbsp; 2382960<br>| &nbsp;&nbsp;&nbsp; 2175321<br> <sup>(c)</sup><br>|
| &nbsp;&nbsp;&nbsp; Government National Mortgage Association (GNMA), 2014-17 AM | &nbsp;&nbsp; 3.535% | &nbsp;&nbsp; 6/16/48 | &nbsp;&nbsp; 62796<br>| &nbsp;&nbsp;&nbsp; 60722<br> <sup>(c)</sup><br>|
| &nbsp;&nbsp;&nbsp; Government National Mortgage Association (GNMA), 2014-47 IA, IO | &nbsp;&nbsp; 0.167% | &nbsp;&nbsp; 2/16/48 | &nbsp;&nbsp; 502080<br>| &nbsp;&nbsp;&nbsp; 1980<br> <sup>(c)</sup><br>|
| &nbsp;&nbsp;&nbsp; Government National Mortgage Association (GNMA), 2014-50 IO, IO | &nbsp;&nbsp; 0.587% | &nbsp;&nbsp; 9/16/55 | &nbsp;&nbsp; 2683904<br>| &nbsp;&nbsp;&nbsp; 61255<br> <sup>(c)</sup><br>|
| &nbsp;&nbsp;&nbsp; Government National Mortgage Association (GNMA), 2014-186 IO, IO | &nbsp;&nbsp; 0.375% | &nbsp;&nbsp; 8/16/54 | &nbsp;&nbsp; 3081924<br>| &nbsp;&nbsp;&nbsp; 21444<br> <sup>(c)</sup><br>|
| &nbsp;&nbsp;&nbsp; Government National Mortgage Association (GNMA), 2015-98 IO, IO | &nbsp;&nbsp; 0.166% | &nbsp;&nbsp; 4/16/55 | &nbsp;&nbsp; 8518775<br>| &nbsp;&nbsp;&nbsp; 47403<br> <sup>(c)</sup><br>|
| &nbsp;&nbsp;&nbsp; Government National Mortgage Association (GNMA), 2016-84 IG, IO, PAC | &nbsp;&nbsp; 4.500% | &nbsp;&nbsp; 11/16/45 | &nbsp;&nbsp; 4960470<br>| &nbsp;&nbsp;&nbsp; 948334<br>|
| &nbsp;&nbsp;&nbsp; Government National Mortgage Association (GNMA), 2016-152 IO, IO | &nbsp;&nbsp; 0.767% | &nbsp;&nbsp; 8/15/58 | &nbsp;&nbsp; 10759591<br>| &nbsp;&nbsp;&nbsp; 483079<br> <sup>(c)</sup><br>|
| &nbsp;&nbsp;&nbsp; Government National Mortgage Association (GNMA), 2017-7 IO, IO | &nbsp;&nbsp; 0.541% | &nbsp;&nbsp; 12/16/58 | &nbsp;&nbsp; 23803197<br>| &nbsp;&nbsp;&nbsp; 639544<br> <sup>(c)</sup><br>|
| &nbsp;&nbsp;&nbsp; Government National Mortgage Association (GNMA), 2017-8 IO, IO | &nbsp;&nbsp; 0.442% | &nbsp;&nbsp; 8/16/58 | &nbsp;&nbsp; 4608663<br>| &nbsp;&nbsp;&nbsp; 80699<br> <sup>(c)</sup><br>|
| &nbsp;&nbsp;&nbsp; Government National Mortgage Association (GNMA), 2017-28 IO, IO | &nbsp;&nbsp; 0.646% | &nbsp;&nbsp; 2/16/57 | &nbsp;&nbsp; 5092364<br>| &nbsp;&nbsp;&nbsp; 174798<br> <sup>(c)</sup><br>|
| &nbsp;&nbsp;&nbsp; Government National Mortgage Association (GNMA), 2017-41 IO, IO | &nbsp;&nbsp; 0.494% | &nbsp;&nbsp; 7/16/58 | &nbsp;&nbsp; 1622283<br>| &nbsp;&nbsp;&nbsp; 36822<br> <sup>(c)</sup><br>|

---

See Notes to Schedule of Investments.

------

Western Asset Core Bond Fund 2026 Quarterly Report

------

 **Western Asset Core Bond Fund**

(Percentages shown based on Fund net assets)

---

| | | | | |
|:---|:---|:---|:---|:---|
| Security | Rate | &nbsp;&nbsp; Maturity<br> Date<br>| &nbsp;&nbsp; Face<br> Amount<br>| Value |
| **Collateralized Mortgage Obligations**<sup>(e)</sup> **— continued** | **Collateralized Mortgage Obligations**<sup>(e)</sup> **— continued** | **Collateralized Mortgage Obligations**<sup>(e)</sup> **— continued** | **Collateralized Mortgage Obligations**<sup>(e)</sup> **— continued** | **Collateralized Mortgage Obligations**<sup>(e)</sup> **— continued** |
| &nbsp;&nbsp;&nbsp; Government National Mortgage Association (GNMA), 2017-50 IO, IO | &nbsp;&nbsp; 0.587% | &nbsp;&nbsp; 1/16/57 | &nbsp;&nbsp; $11147670<br>| &nbsp;&nbsp;&nbsp; $354524<br> <sup>(c)</sup><br>|
| &nbsp;&nbsp;&nbsp; Government National Mortgage Association (GNMA), 2017-53 IO, IO | &nbsp;&nbsp; 0.515% | &nbsp;&nbsp; 11/16/56 | &nbsp;&nbsp; 26289423<br>| &nbsp;&nbsp;&nbsp; 696919<br> <sup>(c)</sup><br>|
| &nbsp;&nbsp;&nbsp; Government National Mortgage Association (GNMA), 2017-111 IO, IO | &nbsp;&nbsp; 0.527% | &nbsp;&nbsp; 2/16/59 | &nbsp;&nbsp; 3762883<br>| &nbsp;&nbsp;&nbsp; 109712<br> <sup>(c)</sup><br>|
| &nbsp;&nbsp;&nbsp; Government National Mortgage Association (GNMA), 2017-132 IA, IO | &nbsp;&nbsp; 4.500% | &nbsp;&nbsp; 9/20/47 | &nbsp;&nbsp; 909061<br>| &nbsp;&nbsp;&nbsp; 161200<br>|
| &nbsp;&nbsp;&nbsp; Government National Mortgage Association (GNMA), 2017-145 IO, IO | &nbsp;&nbsp; 0.484% | &nbsp;&nbsp; 4/16/57 | &nbsp;&nbsp; 3908732<br>| &nbsp;&nbsp;&nbsp; 90226<br> <sup>(c)</sup><br>|
| &nbsp;&nbsp;&nbsp; Government National Mortgage Association (GNMA), 2017-157 IO, IO | &nbsp;&nbsp; 0.520% | &nbsp;&nbsp; 12/16/59 | &nbsp;&nbsp; 12022875<br>| &nbsp;&nbsp;&nbsp; 380840<br> <sup>(c)</sup><br>|
| &nbsp;&nbsp;&nbsp; Government National Mortgage Association (GNMA), 2017-171 IO, IO | &nbsp;&nbsp; 0.621% | &nbsp;&nbsp; 9/16/59 | &nbsp;&nbsp; 8325759<br>| &nbsp;&nbsp;&nbsp; 286367<br> <sup>(c)</sup><br>|
| &nbsp;&nbsp;&nbsp; Government National Mortgage Association (GNMA), 2017-190 IO, IO | &nbsp;&nbsp; 0.616% | &nbsp;&nbsp; 3/16/60 | &nbsp;&nbsp; 1183286<br>| &nbsp;&nbsp;&nbsp; 43643<br> <sup>(c)</sup><br>|
| &nbsp;&nbsp;&nbsp; Government National Mortgage Association (GNMA), 2017-H11 IO, IO | &nbsp;&nbsp; 2.251% | &nbsp;&nbsp; 5/20/67 | &nbsp;&nbsp; 5672447<br>| &nbsp;&nbsp;&nbsp; 179102<br> <sup>(c)</sup><br>|
| &nbsp;&nbsp;&nbsp; Government National Mortgage Association (GNMA), 2017-H22 IC, IO | &nbsp;&nbsp; 2.521% | &nbsp;&nbsp; 11/20/67 | &nbsp;&nbsp; 137271<br>| &nbsp;&nbsp;&nbsp; 5175<br> <sup>(c)</sup><br>|
| &nbsp;&nbsp;&nbsp; Government National Mortgage Association (GNMA), 2018-37 QA | &nbsp;&nbsp; 2.750% | &nbsp;&nbsp; 3/20/48 | &nbsp;&nbsp; 910934<br>| &nbsp;&nbsp;&nbsp; 810798<br>|
| &nbsp;&nbsp;&nbsp; Government National Mortgage Association (GNMA), 2020-49 IO, IO | &nbsp;&nbsp; 1.050% | &nbsp;&nbsp; 7/16/62 | &nbsp;&nbsp; 5804343<br>| &nbsp;&nbsp;&nbsp; 434666<br> <sup>(c)</sup><br>|
| &nbsp;&nbsp;&nbsp; Government National Mortgage Association (GNMA), 2020-H13 FC (1 mo. Term <br> SOFR + 0.564%) | &nbsp;&nbsp; 4.233% | &nbsp;&nbsp; 7/20/70 | &nbsp;&nbsp; 1162957<br>| &nbsp;&nbsp;&nbsp; 1154721<br> <sup>(c)</sup><br>|
| &nbsp;&nbsp;&nbsp; Government National Mortgage Association (GNMA), 2021-2 AH | &nbsp;&nbsp; 1.500% | &nbsp;&nbsp; 6/16/63 | &nbsp;&nbsp; 785066<br>| &nbsp;&nbsp;&nbsp; 583742<br>|
| &nbsp;&nbsp;&nbsp; Government National Mortgage Association (GNMA), 2021-9 MI, IO | &nbsp;&nbsp; 2.500% | &nbsp;&nbsp; 1/20/51 | &nbsp;&nbsp; 25979168<br>| &nbsp;&nbsp;&nbsp; 3789659<br>|
| &nbsp;&nbsp;&nbsp; Government National Mortgage Association (GNMA), 2021-45 IO, IO | &nbsp;&nbsp; 0.814% | &nbsp;&nbsp; 4/16/63 | &nbsp;&nbsp; 6741861<br>| &nbsp;&nbsp;&nbsp; 402157<br> <sup>(c)</sup><br>|
| &nbsp;&nbsp;&nbsp; Government National Mortgage Association (GNMA), 2021-68 IO, IO | &nbsp;&nbsp; 0.878% | &nbsp;&nbsp; 10/16/62 | &nbsp;&nbsp; 13326909<br>| &nbsp;&nbsp;&nbsp; 823767<br> <sup>(c)</sup><br>|
| &nbsp;&nbsp;&nbsp; Government National Mortgage Association (GNMA), 2021-84 ED | &nbsp;&nbsp; 1.000% | &nbsp;&nbsp; 7/16/60 | &nbsp;&nbsp; 1053496<br>| &nbsp;&nbsp;&nbsp; 742472<br>|
| &nbsp;&nbsp;&nbsp; Government National Mortgage Association (GNMA), 2021-159 JI, IO, PAC | &nbsp;&nbsp; 2.500% | &nbsp;&nbsp; 6/20/51 | &nbsp;&nbsp; 5385542<br>| &nbsp;&nbsp;&nbsp; 488863<br>|
| &nbsp;&nbsp;&nbsp; Government National Mortgage Association (GNMA), 2021-188 PA, PAC | &nbsp;&nbsp; 2.000% | &nbsp;&nbsp; 10/20/51 | &nbsp;&nbsp; 4155773<br>| &nbsp;&nbsp;&nbsp; 3453427<br>|
| &nbsp;&nbsp;&nbsp; Government National Mortgage Association (GNMA), 2021-218 IO, IO | &nbsp;&nbsp; 0.969% | &nbsp;&nbsp; 10/16/61 | &nbsp;&nbsp; 2642326<br>| &nbsp;&nbsp;&nbsp; 189724<br> <sup>(c)</sup><br>|
| &nbsp;&nbsp;&nbsp; Government National Mortgage Association (GNMA), 2022-63 LM | &nbsp;&nbsp; 3.500% | &nbsp;&nbsp; 10/20/50 | &nbsp;&nbsp; 13286616<br>| &nbsp;&nbsp;&nbsp; 11170660<br>|
| &nbsp;&nbsp;&nbsp; Government National Mortgage Association (GNMA), 2023-80 IA, IO | &nbsp;&nbsp; 4.500% | &nbsp;&nbsp; 10/20/47 | &nbsp;&nbsp; 3278370<br>| &nbsp;&nbsp;&nbsp; 592714<br>|
| &nbsp;&nbsp;&nbsp; Government National Mortgage Association (GNMA), 2023-92 AH | &nbsp;&nbsp; 2.000% | &nbsp;&nbsp; 6/16/64 | &nbsp;&nbsp; 18517620<br>| &nbsp;&nbsp;&nbsp; 14184438<br>|
| &nbsp;&nbsp;&nbsp; Government National Mortgage Association (GNMA), 2024-151 KS, IO (-1.000 x 30 <br> Day Average SOFR + 6.050%) | &nbsp;&nbsp; 2.377% | &nbsp;&nbsp; 9/20/54 | &nbsp;&nbsp; 1645474<br>| &nbsp;&nbsp;&nbsp; 135458<br> <sup>(c)</sup><br>|
| &nbsp;&nbsp;&nbsp; Government National Mortgage Association (GNMA), 2025-55 SD, IO (-1.000 x 30 <br> Day Average SOFR + 5.950%) | &nbsp;&nbsp; 2.277% | &nbsp;&nbsp; 3/20/55 | &nbsp;&nbsp; 11890059<br>| &nbsp;&nbsp;&nbsp; 1029032<br> <sup>(c)</sup><br>|
| &nbsp;&nbsp;&nbsp; Government National Mortgage Association (GNMA), 2025-169 SA, IO (-1.000 x 30 <br> Day Average SOFR + 6.600%) | &nbsp;&nbsp; 2.927% | &nbsp;&nbsp; 10/20/55 | &nbsp;&nbsp; 16318938<br>| &nbsp;&nbsp;&nbsp; 1632715<br> <sup>(c)</sup><br>|
| &nbsp;&nbsp;&nbsp; Government National Mortgage Association (GNMA), 2025-175 LS, IO (-1.000 x 30 <br> Day Average SOFR + 5.950%) | &nbsp;&nbsp; 2.277% | &nbsp;&nbsp; 10/20/55 | &nbsp;&nbsp; 5643919<br>| &nbsp;&nbsp;&nbsp; 546536<br> <sup>(c)</sup><br>|
| &nbsp;&nbsp;&nbsp; Government National Mortgage Association (GNMA), 2025-214 S, IO (-1.000 x 30 <br> Day Average SOFR + 6.600%) | &nbsp;&nbsp; 2.927% | &nbsp;&nbsp; 12/20/55 | &nbsp;&nbsp; 4700533<br>| &nbsp;&nbsp;&nbsp; 478969<br> <sup>(c)</sup><br>|
| &nbsp;&nbsp;&nbsp; Government National Mortgage Association (GNMA), 2026-5 SM, IO (-1.000 x 30 <br> Day Average SOFR + 5.700%) | &nbsp;&nbsp; 2.027% | &nbsp;&nbsp; 12/20/55 | &nbsp;&nbsp; 5372667<br>| &nbsp;&nbsp;&nbsp; 394057<br> <sup>(c)</sup><br>|
| &nbsp;&nbsp;&nbsp; GS Mortgage Securities Trust, 2017-GS8 A4 | &nbsp;&nbsp; 3.469% | &nbsp;&nbsp; 11/10/50 | &nbsp;&nbsp; 4100000<br>| &nbsp;&nbsp;&nbsp; 4036284<br>|
| &nbsp;&nbsp;&nbsp; IndyMac INDX Mortgage Loan Trust, 2005-AR15 A2 | &nbsp;&nbsp; 3.844% | &nbsp;&nbsp; 9/25/35 | &nbsp;&nbsp; 9915<br>| &nbsp;&nbsp;&nbsp; 8056<br> <sup>(c)</sup><br>|
| &nbsp;&nbsp;&nbsp; JPMorgan Chase Commercial Mortgage Securities Trust, 2015-FL7 D (PRIME + <br> 0.693%) | &nbsp;&nbsp; 7.443% | &nbsp;&nbsp; 5/15/28 | &nbsp;&nbsp; 1631430<br>| &nbsp;&nbsp;&nbsp; 1431328<br> <sup>(a)(c)</sup><br>|
| &nbsp;&nbsp;&nbsp; KREF Ltd., 2022-FL3 A (1 mo. Term SOFR + 1.450%) | &nbsp;&nbsp; 5.127% | &nbsp;&nbsp; 2/17/39 | &nbsp;&nbsp; 1422314<br>| &nbsp;&nbsp;&nbsp; 1423065<br> <sup>(a)(c)</sup><br>|
| &nbsp;&nbsp;&nbsp; Legacy Mortgage Asset Trust, 2021-GS1 A1 | &nbsp;&nbsp; 5.892% | &nbsp;&nbsp; 10/25/66 | &nbsp;&nbsp; 11013679<br>| &nbsp;&nbsp;&nbsp; 11026479<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; MASTR Reperforming Loan Trust, 2005-2 1A1F (1 mo. Term SOFR + 0.464%) | &nbsp;&nbsp; 4.143% | &nbsp;&nbsp; 5/25/35 | &nbsp;&nbsp; 288162<br>| &nbsp;&nbsp;&nbsp; 133591<br> <sup>(a)(c)</sup><br>|
| &nbsp;&nbsp;&nbsp; Merrill Lynch Mortgage Investors Trust, 2005-A9 3A1 | &nbsp;&nbsp; 5.639% | &nbsp;&nbsp; 12/25/35 | &nbsp;&nbsp; 9480<br>| &nbsp;&nbsp;&nbsp; 3960<br> <sup>(c)</sup><br>|
| &nbsp;&nbsp;&nbsp; Morgan Stanley Capital I Trust, 2019-L2 XA, IO | &nbsp;&nbsp; 0.973% | &nbsp;&nbsp; 3/15/52 | &nbsp;&nbsp; 37853157<br>| &nbsp;&nbsp;&nbsp; 898638<br> <sup>(c)</sup><br>|
| &nbsp;&nbsp;&nbsp; Morgan Stanley Mortgage Loan Trust, 2005-3AR 2A2 | &nbsp;&nbsp; 3.468% | &nbsp;&nbsp; 7/25/35 | &nbsp;&nbsp; 198326<br>| &nbsp;&nbsp;&nbsp; 178925<br> <sup>(c)</sup><br>|

---

See Notes to Schedule of Investments.

------

Western Asset Core Bond Fund 2026 Quarterly Report

------

Schedule of Investments (unaudited) (cont'd)

March 31, 2026

 **Western Asset Core Bond Fund**

(Percentages shown based on Fund net assets)

---

| | | | | |
|:---|:---|:---|:---|:---|
| Security | Rate | &nbsp;&nbsp; Maturity<br> Date<br>| &nbsp;&nbsp; Face<br> Amount<br>| Value |
| **Collateralized Mortgage Obligations**<sup>(e)</sup> **— continued** | **Collateralized Mortgage Obligations**<sup>(e)</sup> **— continued** | **Collateralized Mortgage Obligations**<sup>(e)</sup> **— continued** | **Collateralized Mortgage Obligations**<sup>(e)</sup> **— continued** | **Collateralized Mortgage Obligations**<sup>(e)</sup> **— continued** |
| &nbsp;&nbsp;&nbsp; NAAC Reperforming Loan REMIC Certificates Trust, 2004-R3 A1 | &nbsp;&nbsp; 6.500% | &nbsp;&nbsp; 2/25/35 | &nbsp;&nbsp; $72191<br>| &nbsp;&nbsp;&nbsp; $62503<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; New Residential Mortgage Loan Trust, 2018-1A A1A | &nbsp;&nbsp; 4.000% | &nbsp;&nbsp; 12/25/57 | &nbsp;&nbsp; 4183165<br>| &nbsp;&nbsp;&nbsp; 4084207<br> <sup>(a)(c)</sup><br>|
| &nbsp;&nbsp;&nbsp; New Residential Mortgage Loan Trust, 2019-3A A1A | &nbsp;&nbsp; 3.750% | &nbsp;&nbsp; 11/25/58 | &nbsp;&nbsp; 4987614<br>| &nbsp;&nbsp;&nbsp; 4816878<br> <sup>(a)(c)</sup><br>|
| &nbsp;&nbsp;&nbsp; New Residential Mortgage Loan Trust, 2021-NQM3 A1 | &nbsp;&nbsp; 1.156% | &nbsp;&nbsp; 11/27/56 | &nbsp;&nbsp; 6592636<br>| &nbsp;&nbsp;&nbsp; 6063169<br> <sup>(a)(c)</sup><br>|
| &nbsp;&nbsp;&nbsp; New Residential Mortgage Loan Trust, 2022-NQM3 A1, Step bond (3.900% to <br> 5/25/26 then 4.990%) | &nbsp;&nbsp; 3.900% | &nbsp;&nbsp; 4/25/62 | &nbsp;&nbsp; 5979065<br>| &nbsp;&nbsp;&nbsp; 5700682<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; NJ Trust, 2023-GSP A | &nbsp;&nbsp; 6.481% | &nbsp;&nbsp; 1/6/29 | &nbsp;&nbsp; 3030000<br>| &nbsp;&nbsp;&nbsp; 3142691<br> <sup>(a)(c)</sup><br>|
| &nbsp;&nbsp;&nbsp; Nomura Asset Acceptance Corp. Alternative Loan Trust, 2005-AP2 A5 | &nbsp;&nbsp; 5.476% | &nbsp;&nbsp; 5/25/35 | &nbsp;&nbsp; 37862<br>| &nbsp;&nbsp;&nbsp; 17856<br>|
| &nbsp;&nbsp;&nbsp; OBX Trust, 2022-NQM1 A1 | &nbsp;&nbsp; 2.305% | &nbsp;&nbsp; 11/25/61 | &nbsp;&nbsp; 4666424<br>| &nbsp;&nbsp;&nbsp; 4233529<br> <sup>(a)(c)</sup><br>|
| &nbsp;&nbsp;&nbsp; PFP Ltd., 2024-11 A (1 mo. Term SOFR + 1.832%) | &nbsp;&nbsp; 5.501% | &nbsp;&nbsp; 9/17/39 | &nbsp;&nbsp; 1894736<br>| &nbsp;&nbsp;&nbsp; 1898419<br> <sup>(a)(c)</sup><br>|
| &nbsp;&nbsp;&nbsp; PLYM Commercial Mortgage Trust, 2026-IND A (1 mo. Term SOFR + 1.250%) | &nbsp;&nbsp; 4.923% | &nbsp;&nbsp; 3/15/43 | &nbsp;&nbsp; 4860000<br>| &nbsp;&nbsp;&nbsp; 4842884<br> <sup>(a)(c)</sup><br>|
| &nbsp;&nbsp;&nbsp; Prime Mortgage Trust, 2006-DR1 2A2 | &nbsp;&nbsp; 6.000% | &nbsp;&nbsp; 5/25/35 | &nbsp;&nbsp; 7512069<br>| &nbsp;&nbsp;&nbsp; 6378416<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; SHOW Trust, 2022 BIZ A (1 mo. Term SOFR + 2.984%) | &nbsp;&nbsp; 6.654% | &nbsp;&nbsp; 1/15/27 | &nbsp;&nbsp; 3750000<br>| &nbsp;&nbsp;&nbsp; 1511153<br> <sup>(a)(c)</sup><br>|
| &nbsp;&nbsp;&nbsp; SMRT, 2022-MINI A (1 mo. Term SOFR + 1.000%) | &nbsp;&nbsp; 4.673% | &nbsp;&nbsp; 1/15/39 | &nbsp;&nbsp; 4610000<br>| &nbsp;&nbsp;&nbsp; 4608079<br> <sup>(a)(c)</sup><br>|
| &nbsp;&nbsp;&nbsp; Soho Trust, 2021-SOHO A | &nbsp;&nbsp; 2.697% | &nbsp;&nbsp; 8/10/38 | &nbsp;&nbsp; 6000000<br>| &nbsp;&nbsp;&nbsp; 4976054<br> <sup>(a)(c)</sup><br>|
| &nbsp;&nbsp;&nbsp; STWD Ltd., 2022-FL3 A (30 Day Average SOFR + 1.350%) | &nbsp;&nbsp; 5.022% | &nbsp;&nbsp; 11/15/38 | &nbsp;&nbsp; 502222<br>| &nbsp;&nbsp;&nbsp; 501602<br> <sup>(a)(c)</sup><br>|
| &nbsp;&nbsp;&nbsp; UBS Commercial Mortgage Trust, 2018-C11 B | &nbsp;&nbsp; 4.713% | &nbsp;&nbsp; 6/15/51 | &nbsp;&nbsp; 1430000<br>| &nbsp;&nbsp;&nbsp; 1359242<br> <sup>(c)</sup><br>|
| &nbsp;&nbsp;&nbsp; VLS Commercial Mortgage Trust, 2020-LAB B | &nbsp;&nbsp; 2.453% | &nbsp;&nbsp; 10/10/42 | &nbsp;&nbsp; 2090000<br>| &nbsp;&nbsp;&nbsp; 1711520<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; WaMu Mortgage Pass-Through Certificates Trust, 2007-HY4 4A1 | &nbsp;&nbsp; 4.422% | &nbsp;&nbsp; 9/25/36 | &nbsp;&nbsp; 47582<br>| &nbsp;&nbsp;&nbsp; 45257<br> <sup>(c)</sup><br>|
| &nbsp;&nbsp;&nbsp; Wells Fargo Commercial Mortgage Trust, 2019-C49 B | &nbsp;&nbsp; 4.546% | &nbsp;&nbsp; 3/15/52 | &nbsp;&nbsp; 2160000<br>| &nbsp;&nbsp;&nbsp; 2104850<br>|
| &nbsp;&nbsp;&nbsp; Wells Fargo Commercial Mortgage Trust, 2022-JS2 A | &nbsp;&nbsp; 3.084% | &nbsp;&nbsp; 12/15/39 | &nbsp;&nbsp; 7480000<br>| &nbsp;&nbsp;&nbsp; 6715056<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Wells Fargo Commercial Mortgage Trust, 2024-C63 A5 | &nbsp;&nbsp; 5.309% | &nbsp;&nbsp; 8/15/57 | &nbsp;&nbsp; 2000000<br>| &nbsp;&nbsp;&nbsp; 2044282<br>|
| **Total Collateralized Mortgage Obligations (Cost — $322,695,781)** | **Total Collateralized Mortgage Obligations (Cost — $322,695,781)** | **Total Collateralized Mortgage Obligations (Cost — $322,695,781)** | **Total Collateralized Mortgage Obligations (Cost — $322,695,781)** | &nbsp;&nbsp; **297333690** |
| **U.S. Government & Agency Obligations — 14.0%** | **U.S. Government & Agency Obligations — 14.0%** | **U.S. Government & Agency Obligations — 14.0%** | **U.S. Government & Agency Obligations — 14.0%** | **U.S. Government & Agency Obligations — 14.0%** |
| *U.S. Government Obligations — 14.0%* | *U.S. Government Obligations — 14.0%* | *U.S. Government Obligations — 14.0%* | *U.S. Government Obligations — 14.0%* | *U.S. Government Obligations — 14.0%* |
| &nbsp;&nbsp;&nbsp; U.S. Treasury Bonds | &nbsp;&nbsp; 4.500% | &nbsp;&nbsp; 8/15/39 | &nbsp;&nbsp; 120000000 | &nbsp;&nbsp;&nbsp; 118912500<br>|
| &nbsp;&nbsp;&nbsp; U.S. Treasury Bonds | &nbsp;&nbsp; 4.875% | &nbsp;&nbsp; 8/15/45 | &nbsp;&nbsp; 3710000 | &nbsp;&nbsp;&nbsp; 3698696<br>|
| &nbsp;&nbsp;&nbsp; U.S. Treasury Bonds | &nbsp;&nbsp; 3.375% | &nbsp;&nbsp; 11/15/48 | &nbsp;&nbsp; 123000000 | &nbsp;&nbsp;&nbsp; 96425273<br> <sup>(f)(g)</sup><br>|
| &nbsp;&nbsp;&nbsp; U.S. Treasury Notes | &nbsp;&nbsp; 4.000% | &nbsp;&nbsp; 7/31/32 | &nbsp;&nbsp; 28000000 | &nbsp;&nbsp;&nbsp; 27862735<br>|
| &nbsp;&nbsp;&nbsp; U.S. Treasury Notes | &nbsp;&nbsp; 3.750% | &nbsp;&nbsp; 2/28/33 | &nbsp;&nbsp; 550000 | &nbsp;&nbsp;&nbsp; 537496<br>|
| **Total U.S. Government & Agency Obligations (Cost — $247,955,587)** | **Total U.S. Government & Agency Obligations (Cost — $247,955,587)** | **Total U.S. Government & Agency Obligations (Cost — $247,955,587)** | **Total U.S. Government & Agency Obligations (Cost — $247,955,587)** | &nbsp;&nbsp; **247436700** |
| **Asset-Backed Securities — 10.4%** | **Asset-Backed Securities — 10.4%** | **Asset-Backed Securities — 10.4%** | **Asset-Backed Securities — 10.4%** | **Asset-Backed Securities — 10.4%** |
| &nbsp;&nbsp;&nbsp; 522 Funding CLO Ltd., 2019-5A AR2 (3 mo. Term SOFR + 1.020%) | &nbsp;&nbsp; 4.680% | &nbsp;&nbsp; 4/15/35 | &nbsp;&nbsp; 2750000<br>| &nbsp;&nbsp;&nbsp; 2750732<br> <sup>(a)(c)</sup><br>|
| &nbsp;&nbsp;&nbsp; Abry Liquid Credit CLO Ltd., 2025-2A A1 (3 mo. Term SOFR + 1.310%) | &nbsp;&nbsp; 4.995% | &nbsp;&nbsp; 1/15/38 | &nbsp;&nbsp; 2930000<br>| &nbsp;&nbsp;&nbsp; 2922386<br> <sup>(a)(c)</sup><br>|
| &nbsp;&nbsp;&nbsp; AIMCO CLO Ltd., 2024-22A A (3 mo. Term SOFR + 1.500%) | &nbsp;&nbsp; 5.168% | &nbsp;&nbsp; 4/19/37 | &nbsp;&nbsp; 5145000<br>| &nbsp;&nbsp;&nbsp; 5158288<br> <sup>(a)(c)</sup><br>|
| &nbsp;&nbsp;&nbsp; AMMC CLO Ltd., 2025-32A A1 (3 mo. Term SOFR + 1.360%) | &nbsp;&nbsp; 5.028% | &nbsp;&nbsp; 10/17/38 | &nbsp;&nbsp; 5010000<br>| &nbsp;&nbsp;&nbsp; 5022399<br> <sup>(a)(c)</sup><br>|
| &nbsp;&nbsp;&nbsp; Antares CLO Ltd., 2018-1A A1R (3 mo. Term SOFR + 1.370%) | &nbsp;&nbsp; 5.038% | &nbsp;&nbsp; 4/20/38 | &nbsp;&nbsp; 3110000<br>| &nbsp;&nbsp;&nbsp; 3113761<br> <sup>(a)(c)</sup><br>|
| &nbsp;&nbsp;&nbsp; Apidos CLO Ltd., 2021-35A A (3 mo. Term SOFR + 1.312%) | &nbsp;&nbsp; 4.979% | &nbsp;&nbsp; 4/20/34 | &nbsp;&nbsp; 4300000<br>| &nbsp;&nbsp;&nbsp; 4304877<br> <sup>(a)(c)</sup><br>|
| &nbsp;&nbsp;&nbsp; Apidos Loan Fund Ltd., 2024-1A A1R (3 mo. Term SOFR + 1.250%) | &nbsp;&nbsp; 4.918% | &nbsp;&nbsp; 10/25/38 | &nbsp;&nbsp; 5750000<br>| &nbsp;&nbsp;&nbsp; 5748562<br> <sup>(a)(c)</sup><br>|
| &nbsp;&nbsp;&nbsp; Balboa Bay Loan Funding Ltd., 2025-2A A1 (3 mo. Term SOFR + 1.250%) | &nbsp;&nbsp; 4.981% | &nbsp;&nbsp; 1/20/39 | &nbsp;&nbsp; 2590000<br>| &nbsp;&nbsp;&nbsp; 2587695<br> <sup>(a)(c)</sup><br>|
| &nbsp;&nbsp;&nbsp; Bayfront Iabs Pte Ltd., 7A A (SOFR + 1.280%) | &nbsp;&nbsp; 4.960% | &nbsp;&nbsp; 4/11/48 | &nbsp;&nbsp; 3040000<br>| &nbsp;&nbsp;&nbsp; 3039708<br> <sup>(a)(c)</sup><br>|
| &nbsp;&nbsp;&nbsp; Bayswater Park CLO Ltd., 2023-1A AR (3 mo. Term SOFR + 1.210%) | &nbsp;&nbsp; 4.878% | &nbsp;&nbsp; 1/20/39 | &nbsp;&nbsp; 2980000<br>| &nbsp;&nbsp;&nbsp; 2980506<br> <sup>(a)(c)</sup><br>|
| &nbsp;&nbsp;&nbsp; Bayview Opportunity Master Fund LLC, 2024-EDU1 A (30 Day Average SOFR + <br> 1.450%) | &nbsp;&nbsp; 5.112% | &nbsp;&nbsp; 6/25/47 | &nbsp;&nbsp; 4420558<br>| &nbsp;&nbsp;&nbsp; 4451191<br> <sup>(a)(c)</sup><br>|
| &nbsp;&nbsp;&nbsp; BCRED MML CLO LLC, 2021-1A A (3 mo. Term SOFR + 1.742%) | &nbsp;&nbsp; 5.414% | &nbsp;&nbsp; 1/15/35 | &nbsp;&nbsp; 7360000<br>| &nbsp;&nbsp;&nbsp; 7363882<br> <sup>(a)(c)</sup><br>|
| &nbsp;&nbsp;&nbsp; BlueMountain CLO Ltd., 2020-30A AR2 (3 mo. Term SOFR + 1.150%) | &nbsp;&nbsp; 4.822% | &nbsp;&nbsp; 4/15/35 | &nbsp;&nbsp; 3270000<br>| &nbsp;&nbsp;&nbsp; 3270870<br> <sup>(a)(c)</sup><br>|

---

See Notes to Schedule of Investments.

------

Western Asset Core Bond Fund 2026 Quarterly Report

------

 **Western Asset Core Bond Fund**

(Percentages shown based on Fund net assets)

---

| | | | | |
|:---|:---|:---|:---|:---|
| Security | Rate | &nbsp;&nbsp; Maturity<br> Date<br>| &nbsp;&nbsp; Face<br> Amount<br>| Value |
| **Asset-Backed Securities — continued** | **Asset-Backed Securities — continued** | **Asset-Backed Securities — continued** | **Asset-Backed Securities — continued** | **Asset-Backed Securities — continued** |
| &nbsp;&nbsp;&nbsp; CarVal CLO Ltd., 2024-3A A1 (3 mo. Term SOFR + 1.390%) | &nbsp;&nbsp; 5.058% | &nbsp;&nbsp; 10/20/37 | &nbsp;&nbsp; $9890000<br>| &nbsp;&nbsp;&nbsp; $9897655<br> <sup>(a)(c)</sup><br>|
| &nbsp;&nbsp;&nbsp; Castlelake Aircraft Structured Trust, 2026-1A A | &nbsp;&nbsp; 5.073% | &nbsp;&nbsp; 3/15/51 | &nbsp;&nbsp; 3690000<br>| &nbsp;&nbsp;&nbsp; 3629469<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; College Ave Student Loans LLC, 2019-A A1 (1 mo. Term SOFR + 1.514%) | &nbsp;&nbsp; 5.193% | &nbsp;&nbsp; 12/28/48 | &nbsp;&nbsp; 3914453<br>| &nbsp;&nbsp;&nbsp; 3930279<br> <sup>(a)(c)</sup><br>|
| &nbsp;&nbsp;&nbsp; College Ave Student Loans LLC, 2021-C C | &nbsp;&nbsp; 3.060% | &nbsp;&nbsp; 7/26/55 | &nbsp;&nbsp; 2065074<br>| &nbsp;&nbsp;&nbsp; 1937027<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Credit-Based Asset Servicing and Securitization LLC, 1999-3 A | &nbsp;&nbsp; 2.899% | &nbsp;&nbsp; 2/3/29 | &nbsp;&nbsp; 80<br>| &nbsp;&nbsp;&nbsp; 76<br> <sup>(a)(c)</sup><br>|
| &nbsp;&nbsp;&nbsp; Dividend Solar Loans LLC, 2019-1 A | &nbsp;&nbsp; 3.670% | &nbsp;&nbsp; 8/22/39 | &nbsp;&nbsp; 3864912<br>| &nbsp;&nbsp;&nbsp; 3602131<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Elmwood CLO Ltd., 2019-1A A1R3 (3 mo. Term SOFR + 1.120%) | &nbsp;&nbsp; 4.780% | &nbsp;&nbsp; 4/20/37 | &nbsp;&nbsp; 3620000<br>| &nbsp;&nbsp;&nbsp; 3603707<br> <sup>(a)(c)</sup><br>|
| &nbsp;&nbsp;&nbsp; Empower CLO Ltd., 2023-2A AR (3 mo. Term SOFR + 1.320%) | &nbsp;&nbsp; 4.992% | &nbsp;&nbsp; 10/15/38 | &nbsp;&nbsp; 750000<br>| &nbsp;&nbsp;&nbsp; 751470<br> <sup>(a)(c)</sup><br>|
| &nbsp;&nbsp;&nbsp; Empower CLO Ltd., 2024-1A A1 (3 mo. Term SOFR + 1.600%) | &nbsp;&nbsp; 5.268% | &nbsp;&nbsp; 4/25/37 | &nbsp;&nbsp; 3000000<br>| &nbsp;&nbsp;&nbsp; 3008926<br> <sup>(a)(c)</sup><br>|
| &nbsp;&nbsp;&nbsp; Federal Home Loan Mortgage Corp. (FHLMC) Structured Pass-Through Certificates <br> FRESR, 2017-SR01 A3 | &nbsp;&nbsp; 3.089% | &nbsp;&nbsp; 11/25/27 | &nbsp;&nbsp; 212607<br>| &nbsp;&nbsp;&nbsp; 208638<br>|
| &nbsp;&nbsp;&nbsp; Fortress Credit BSL Ltd., 2025-1A A (3 mo. Term SOFR + 1.270%) | &nbsp;&nbsp; 4.938% | &nbsp;&nbsp; 4/20/38 | &nbsp;&nbsp; 3250000<br>| &nbsp;&nbsp;&nbsp; 3249202<br> <sup>(a)(c)</sup><br>|
| &nbsp;&nbsp;&nbsp; Galaxy CLO Ltd., 2025-36A A1 (3 mo. Term SOFR + 1.230%) | &nbsp;&nbsp; 5.008% | &nbsp;&nbsp; 10/15/38 | &nbsp;&nbsp; 3640000<br>| &nbsp;&nbsp;&nbsp; 3640597<br> <sup>(a)(c)</sup><br>|
| &nbsp;&nbsp;&nbsp; GoldenTree Loan Management US CLO Ltd., 2024-20A A (3 mo. Term SOFR + <br> 1.450%) | &nbsp;&nbsp; 5.118% | &nbsp;&nbsp; 7/20/37 | &nbsp;&nbsp; 2800000<br>| &nbsp;&nbsp;&nbsp; 2807407<br> <sup>(a)(c)</sup><br>|
| &nbsp;&nbsp;&nbsp; Goodgreen Trust, 2017-2A A | &nbsp;&nbsp; 3.260% | &nbsp;&nbsp; 10/15/53 | &nbsp;&nbsp; 483491<br>| &nbsp;&nbsp;&nbsp; 440355<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Harbor Park CLO Ltd., 2018-1A BR2 (3 mo. Term SOFR + 1.400%) | &nbsp;&nbsp; 5.068% | &nbsp;&nbsp; 1/20/31 | &nbsp;&nbsp; 2610000<br>| &nbsp;&nbsp;&nbsp; 2614741<br> <sup>(a)(c)</sup><br>|
| &nbsp;&nbsp;&nbsp; Jack in the Box Funding LLC, 2022-1A A2I | &nbsp;&nbsp; 3.445% | &nbsp;&nbsp; 2/26/52 | &nbsp;&nbsp; 6651600<br>| &nbsp;&nbsp;&nbsp; 6462003<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; JGWPT LLC, 2015-1A B | &nbsp;&nbsp; 4.250% | &nbsp;&nbsp; 9/17/74 | &nbsp;&nbsp; 841196<br>| &nbsp;&nbsp;&nbsp; 736771<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Kings Park CLO Ltd., 2021-1A A1R (3 mo. Term SOFR + 1.200%) | &nbsp;&nbsp; 4.870% | &nbsp;&nbsp; 1/21/39 | &nbsp;&nbsp; 2810000<br>| &nbsp;&nbsp;&nbsp; 2806516<br> <sup>(a)(c)</sup><br>|
| &nbsp;&nbsp;&nbsp; Loanpal Solar Loan Ltd., 2020-3GS A | &nbsp;&nbsp; 2.470% | &nbsp;&nbsp; 12/20/47 | &nbsp;&nbsp; 6153824<br>| &nbsp;&nbsp;&nbsp; 5120788<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; M&T Equipment Notes, 2024-1A A4 | &nbsp;&nbsp; 4.940% | &nbsp;&nbsp; 8/18/31 | &nbsp;&nbsp; 6360000<br>| &nbsp;&nbsp;&nbsp; 6448618<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Magnetite Ltd., 2020-27A ARR (3 mo. Term SOFR + 1.230%) | &nbsp;&nbsp; 4.898% | &nbsp;&nbsp; 10/20/38 | &nbsp;&nbsp; 3940000<br>| &nbsp;&nbsp;&nbsp; 3937061<br> <sup>(a)(c)</sup><br>|
| &nbsp;&nbsp;&nbsp; Magnetite Ltd., 2021-29A BR (3 mo. Term SOFR + 1.750%) | &nbsp;&nbsp; 5.422% | &nbsp;&nbsp; 7/15/37 | &nbsp;&nbsp; 2970000<br>| &nbsp;&nbsp;&nbsp; 2975698<br> <sup>(a)(c)</sup><br>|
| &nbsp;&nbsp;&nbsp; Man Capital CLO Ltd., 2021-2RA A1R (3 mo. Term SOFR + 1.320%) | &nbsp;&nbsp; 4.990% | &nbsp;&nbsp; 4/17/39 | &nbsp;&nbsp; 3710000<br>| &nbsp;&nbsp;&nbsp; 3701585<br> <sup>(a)(c)</sup><br>|
| &nbsp;&nbsp;&nbsp; Market Street CLO Ltd., 2025-2A A1 (3 mo. Term SOFR + 1.330%) | &nbsp;&nbsp; 5.214% | &nbsp;&nbsp; 3/20/38 | &nbsp;&nbsp; 4080000<br>| &nbsp;&nbsp;&nbsp; 4087492<br> <sup>(a)(c)</sup><br>|
| &nbsp;&nbsp;&nbsp; Mosaic Solar Loan Trust, 2024-1A A | &nbsp;&nbsp; 5.500% | &nbsp;&nbsp; 9/20/49 | &nbsp;&nbsp; 2371740<br>| &nbsp;&nbsp;&nbsp; 2252848<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Neuberger Berman Loan Advisers CLO Ltd., 2022-51A AR2 (3 mo. Term SOFR + <br> 1.000%) | &nbsp;&nbsp; 4.668% | &nbsp;&nbsp; 10/23/36 | &nbsp;&nbsp; 3035000<br>| &nbsp;&nbsp;&nbsp; 3035380<br> <sup>(a)(c)</sup><br>|
| &nbsp;&nbsp;&nbsp; Oaktree CLO Ltd., 2024-25A A (3 mo. Term SOFR + 1.550%) | &nbsp;&nbsp; 5.218% | &nbsp;&nbsp; 4/20/37 | &nbsp;&nbsp; 4710000<br>| &nbsp;&nbsp;&nbsp; 4722077<br> <sup>(a)(c)</sup><br>|
| &nbsp;&nbsp;&nbsp; Obra CLO Ltd., 2025-2A A1 (3 mo. Term SOFR + 1.540%) | &nbsp;&nbsp; 5.208% | &nbsp;&nbsp; 7/20/38 | &nbsp;&nbsp; 5370000<br>| &nbsp;&nbsp;&nbsp; 5385464<br> <sup>(a)(c)</sup><br>|
| &nbsp;&nbsp;&nbsp; OHA Loan Funding Ltd., 2013-2A AR2 (3 mo. Term SOFR + 1.220%) | &nbsp;&nbsp; 5.349% | &nbsp;&nbsp; 10/20/38 | &nbsp;&nbsp; 480000<br>| &nbsp;&nbsp;&nbsp; 479955<br> <sup>(a)(c)</sup><br>|
| &nbsp;&nbsp;&nbsp; Owl Rock CLO Ltd., 2020-3A AR (3 mo. Term SOFR + 1.850%) | &nbsp;&nbsp; 5.518% | &nbsp;&nbsp; 4/20/36 | &nbsp;&nbsp; 7110000<br>| &nbsp;&nbsp;&nbsp; 7120934<br> <sup>(a)(c)</sup><br>|
| &nbsp;&nbsp;&nbsp; Phantom Aviation, 2026-1A A | &nbsp;&nbsp; 5.240% | &nbsp;&nbsp; 1/15/51 | &nbsp;&nbsp; 1822917<br>| &nbsp;&nbsp;&nbsp; 1791749<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Point Au Roche Park CLO Ltd., 2021-1A AR (3 mo. Term SOFR + 1.170%) | &nbsp;&nbsp; 4.829% | &nbsp;&nbsp; 1/20/39 | &nbsp;&nbsp; 3520000<br>| &nbsp;&nbsp;&nbsp; 3508561<br> <sup>(a)(c)</sup><br>|
| &nbsp;&nbsp;&nbsp; SLM Private Education Loan Trust, 2010-C A5 (1 mo. Term SOFR + 4.864%) | &nbsp;&nbsp; 8.537% | &nbsp;&nbsp; 10/15/41 | &nbsp;&nbsp; 4727073<br>| &nbsp;&nbsp;&nbsp; 4962834<br> <sup>(a)(c)</sup><br>|
| &nbsp;&nbsp;&nbsp; SMB Private Education Loan Trust, 2020-PTA B | &nbsp;&nbsp; 2.500% | &nbsp;&nbsp; 9/15/54 | &nbsp;&nbsp; 10000000<br>| &nbsp;&nbsp;&nbsp; 8971244<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Sotheby's Artfi Master Trust, 2026-1A A1 | &nbsp;&nbsp; 4.800% | &nbsp;&nbsp; 6/20/33 | &nbsp;&nbsp; 2120000<br>| &nbsp;&nbsp;&nbsp; 2118956<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Textainer Marine Containers Ltd., 2024-1A A | &nbsp;&nbsp; 5.250% | &nbsp;&nbsp; 8/20/49 | &nbsp;&nbsp; 4295417<br>| &nbsp;&nbsp;&nbsp; 4281896<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Thrust Engine Leasing DAC, 2021-1A A | &nbsp;&nbsp; 4.163% | &nbsp;&nbsp; 7/15/40 | &nbsp;&nbsp; 1843226<br>| &nbsp;&nbsp;&nbsp; 1824266<br> <sup>(a)</sup><br>|
| **Total Asset-Backed Securities (Cost — $185,727,701)** | **Total Asset-Backed Securities (Cost — $185,727,701)** | **Total Asset-Backed Securities (Cost — $185,727,701)** | **Total Asset-Backed Securities (Cost — $185,727,701)** | &nbsp;&nbsp; **182769233** |
| **U.S. Treasury Inflation Protected Securities — 1.4%** | **U.S. Treasury Inflation Protected Securities — 1.4%** | **U.S. Treasury Inflation Protected Securities — 1.4%** | **U.S. Treasury Inflation Protected Securities — 1.4%** | **U.S. Treasury Inflation Protected Securities — 1.4%** |
| &nbsp;&nbsp;&nbsp; U.S. Treasury Notes, Inflation Indexed | &nbsp;&nbsp; 1.875% | &nbsp;&nbsp; 7/15/34 | &nbsp;&nbsp; 10365500<br>| &nbsp;&nbsp;&nbsp; 10420397<br>|
| &nbsp;&nbsp;&nbsp; U.S. Treasury Notes, Inflation Indexed | &nbsp;&nbsp; 2.125% | &nbsp;&nbsp; 1/15/35 | &nbsp;&nbsp; 13398190<br>| &nbsp;&nbsp;&nbsp; 13628781<br>|
| **Total U.S. Treasury Inflation Protected Securities (Cost — $23,883,326)** | **Total U.S. Treasury Inflation Protected Securities (Cost — $23,883,326)** | **Total U.S. Treasury Inflation Protected Securities (Cost — $23,883,326)** | **Total U.S. Treasury Inflation Protected Securities (Cost — $23,883,326)** | &nbsp;&nbsp; **24049178** |

---

See Notes to Schedule of Investments.

------

Western Asset Core Bond Fund 2026 Quarterly Report

------

Schedule of Investments (unaudited) (cont'd)

March 31, 2026

 **Western Asset Core Bond Fund**

(Percentages shown based on Fund net assets)

---

| | | | | |
|:---|:---|:---|:---|:---|
| Security | Rate | &nbsp;&nbsp; Maturity<br> Date<br>| &nbsp;&nbsp; Face<br> Amount<br>| Value |
| **Sovereign Bonds — 1.1%** | **Sovereign Bonds — 1.1%** | **Sovereign Bonds — 1.1%** | **Sovereign Bonds — 1.1%** | **Sovereign Bonds — 1.1%** |
| *Chile — 0.2%* | *Chile — 0.2%* | *Chile — 0.2%* | *Chile — 0.2%* | *Chile — 0.2%* |
| &nbsp;&nbsp;&nbsp; Chile Government International Bond, Senior Notes | &nbsp;&nbsp; 2.750% | &nbsp;&nbsp; 1/31/27 | &nbsp;&nbsp; $1700000<br>| &nbsp;&nbsp;&nbsp; $1677815<br>|
| &nbsp;&nbsp;&nbsp; Chile Government International Bond, Senior Notes | &nbsp;&nbsp; 2.550% | &nbsp;&nbsp; 7/27/33 | &nbsp;&nbsp; 1300000<br>| &nbsp;&nbsp;&nbsp; 1109420<br>|
| *Total Chile* | *Total Chile* | *Total Chile* | *Total Chile* | &nbsp;&nbsp; *2787235* |
| *Mexico — 0.2%* | *Mexico — 0.2%* | *Mexico — 0.2%* | *Mexico — 0.2%* | *Mexico — 0.2%* |
| &nbsp;&nbsp;&nbsp; Eagle Funding Luxco Sarl, Senior Notes | &nbsp;&nbsp; 5.500% | &nbsp;&nbsp; 8/17/30 | &nbsp;&nbsp; 2760000<br>| &nbsp;&nbsp;&nbsp;&nbsp; *2777940*<br> <sup>(a)</sup><br>|
| *Panama — 0.1%* | *Panama — 0.1%* | *Panama — 0.1%* | *Panama — 0.1%* | *Panama — 0.1%* |
| &nbsp;&nbsp;&nbsp; Panama Government International Bond, Senior Notes | &nbsp;&nbsp; 2.252% | &nbsp;&nbsp; 9/29/32 | &nbsp;&nbsp; 1900000<br>| &nbsp;&nbsp;&nbsp; *1565030*<br>|
| *Peru — 0.3%* | *Peru — 0.3%* | *Peru — 0.3%* | *Peru — 0.3%* | *Peru — 0.3%* |
| &nbsp;&nbsp;&nbsp; Peruvian Government International Bond, Senior Notes | &nbsp;&nbsp; 5.500% | &nbsp;&nbsp; 3/30/36 | &nbsp;&nbsp; 5030000<br>| &nbsp;&nbsp;&nbsp; 5019437<br>|
| &nbsp;&nbsp;&nbsp; Peruvian Government International Bond, Senior Notes | &nbsp;&nbsp; 3.300% | &nbsp;&nbsp; 3/11/41 | &nbsp;&nbsp; 1500000<br>| &nbsp;&nbsp;&nbsp; 1133850<br>|
| &nbsp;&nbsp;&nbsp; Peruvian Government International Bond, Senior Notes | &nbsp;&nbsp; 2.780% | &nbsp;&nbsp; 12/1/60 | &nbsp;&nbsp; 10000<br>| &nbsp;&nbsp;&nbsp; 5298<br>|
| *Total Peru* | *Total Peru* | *Total Peru* | *Total Peru* | &nbsp;&nbsp; *6158585* |
| *Poland — 0.2%* | *Poland — 0.2%* | *Poland — 0.2%* | *Poland — 0.2%* | *Poland — 0.2%* |
| &nbsp;&nbsp;&nbsp; Republic of Poland Government International Bond, Senior Notes | &nbsp;&nbsp; 5.125% | &nbsp;&nbsp; 9/18/34 | &nbsp;&nbsp; 3440000<br>| &nbsp;&nbsp;&nbsp; *3461722*<br>|
| *Uruguay — 0.1%* | *Uruguay — 0.1%* | *Uruguay — 0.1%* | *Uruguay — 0.1%* | *Uruguay — 0.1%* |
| &nbsp;&nbsp;&nbsp; Uruguay Government International Bond, Senior Notes | &nbsp;&nbsp; 7.625% | &nbsp;&nbsp; 3/21/36 | &nbsp;&nbsp; 1730000<br>| &nbsp;&nbsp;&nbsp; *2040795*<br>|
| **Total Sovereign Bonds (Cost — $18,909,172)** | **Total Sovereign Bonds (Cost — $18,909,172)** | **Total Sovereign Bonds (Cost — $18,909,172)** | **Total Sovereign Bonds (Cost — $18,909,172)** | &nbsp;&nbsp; **18791307** |
|  | Expiration <br>Date<br>| Contracts | &nbsp;&nbsp; Notional <br>Amount<br>|  |
| **Purchased Options — 0.0%††** | **Purchased Options — 0.0%††** | **Purchased Options — 0.0%††** | **Purchased Options — 0.0%††** | **Purchased Options — 0.0%††** |
| **Exchange-Traded Purchased Options — 0.0%††** | **Exchange-Traded Purchased Options — 0.0%††** | **Exchange-Traded Purchased Options — 0.0%††** | **Exchange-Traded Purchased Options — 0.0%††** | **Exchange-Traded Purchased Options — 0.0%††** |
| &nbsp;&nbsp;&nbsp; 3-Month SOFR Futures, Call @ $96.750 (Cost — $1,166,543) | 6/12/26 | &nbsp;&nbsp; 1330 | &nbsp;&nbsp; $3325000 | &nbsp;&nbsp;&nbsp; **91438**<br>|
| **Total Investments — 102.6% (Cost — $1,886,931,632)** | **Total Investments — 102.6% (Cost — $1,886,931,632)** | **Total Investments — 102.6% (Cost — $1,886,931,632)** | **Total Investments — 102.6% (Cost — $1,886,931,632)** | &nbsp;&nbsp; **1809678082** |
| &nbsp;&nbsp;&nbsp; Liabilities in Excess of Other Assets — (2.6)% | &nbsp;&nbsp;&nbsp; Liabilities in Excess of Other Assets — (2.6)% | &nbsp;&nbsp;&nbsp; Liabilities in Excess of Other Assets — (2.6)% | &nbsp;&nbsp;&nbsp; Liabilities in Excess of Other Assets — (2.6)% | &nbsp;&nbsp;&nbsp; (45420268)<br>|
| **Total Net Assets — 100.0%** | **Total Net Assets — 100.0%** | **Total Net Assets — 100.0%** | **Total Net Assets — 100.0%** | &nbsp;&nbsp; **$1764257814** |

---

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

---

| | |
|:---|:---|
| †† | Represents less than 0.1%. |
| <sup>(a)</sup> | Security is exempt from registration under Rule 144A of the Securities Act of 1933. This security may be resold in transactions that are exempt from <br> registration, normally to qualified institutional buyers. This security has been deemed liquid pursuant to guidelines approved by the Board of Directors.<br>|
| <sup>(b)</sup> | Securities traded on a when-issued or delayed delivery basis. |
| <sup>(c)</sup> | Variable rate security. Interest rate disclosed is as of the most recent information available. Certain variable rate securities are not based on a published <br> reference rate and spread but are determined by the issuer or agent and are based on current market conditions. These securities do not indicate a <br> reference rate and spread in their description above.<br>|
| <sup>(d)</sup> | This security is traded on a to-be-announced ("TBA") basis. At March 31, 2026, the Fund held TBA securities with a total cost of $52,569,201. |
| <sup>(e)</sup> | Collateralized mortgage obligations are secured by an underlying pool of mortgages or mortgage pass-through certificates that are structured to direct <br> payments on underlying collateral to different series or classes of the obligations. The interest rate may change positively or inversely in relation to one or <br> more interest rates, financial indices or other financial indicators and may be subject to an upper and/or lower limit.<br>|
| <sup>(f)</sup> | All or a portion of this security is held at the broker as collateral for open centrally cleared swap contracts. |
| <sup>(g)</sup> | All or a portion of this security is held at the broker as collateral for open futures contracts and exchange-traded options.  |

---

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

See Notes to Schedule of Investments.

------

Western Asset Core Bond Fund 2026 Quarterly Report

------

 **Western Asset Core Bond Fund**

---

| | | |
|:---|:---|:---|
| **Abbreviation(s) used in this schedule:** | **Abbreviation(s) used in this schedule:** | **Abbreviation(s) used in this schedule:** |
| ACES |  | Alternative Credit Enhancement Securities |
| CAS |  | Connecticut Avenue Securities |
| CLO |  | Collateralized Loan Obligation |
| DAC |  | Designated Activity Company |
| GTD |  | Guaranteed |
| IBOR |  | Interbank Offered Rate |
| ICE |  | Intercontinental Exchange |
| IO |  | Interest Only |
| JSC |  | Joint Stock Company |
| LIBOR |  | London Interbank Offered Rate |
| PAC |  | Planned Amortization Class |
| REMIC |  | Real Estate Mortgage Investment Conduit |
| SOFR |  | Secured Overnight Financing Rate |
| STRIPS |  | Separate Trading of Registered Interest and Principal Securities |
| USD |  | United States Dollar |

---

At March 31, 2026, the Fund had the following open written options contracts:

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Exchange-Traded Written Options** | **Exchange-Traded Written Options** | **Exchange-Traded Written Options** | **Exchange-Traded Written Options** | **Exchange-Traded Written Options** | **Exchange-Traded Written Options** |
| Security | &nbsp;&nbsp;&nbsp; Expiration <br>Date<br>| &nbsp;&nbsp;&nbsp; Strike <br>Price<br>| Contracts | &nbsp;&nbsp;&nbsp; Notional <br>Amount<br>| Value |
| U.S. Treasury 5-Year Notes Futures, Call | &nbsp;&nbsp;&nbsp;&nbsp; 4/24/26 | &nbsp;&nbsp;&nbsp;&nbsp; $109.000 | &nbsp;&nbsp;&nbsp;&nbsp; 327 | &nbsp;&nbsp;&nbsp;&nbsp; $327000 | &nbsp;&nbsp;&nbsp;&nbsp; $(58758) |
| U.S. Treasury 5-Year Notes Futures, Put | &nbsp;&nbsp;&nbsp;&nbsp; 4/24/26 | &nbsp;&nbsp;&nbsp;&nbsp;107.000 | &nbsp;&nbsp;&nbsp;&nbsp; 327 | &nbsp;&nbsp;&nbsp;&nbsp; 327000 | &nbsp;&nbsp;&nbsp;&nbsp; (45984) |
| **Total Exchange-Traded Written Options (Premiums received — $148,236)** | **Total Exchange-Traded Written Options (Premiums received — $148,236)** | **Total Exchange-Traded Written Options (Premiums received — $148,236)** | **Total Exchange-Traded Written Options (Premiums received — $148,236)** | **Total Exchange-Traded Written Options (Premiums received — $148,236)** | &nbsp;&nbsp;&nbsp; **$(104742)** |

---

At March 31, 2026, the Fund had the following open futures contracts:

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp; <br> Number of <br>Contracts<br>| &nbsp;&nbsp;&nbsp; <br> Expiration <br>Date<br>| &nbsp;&nbsp;&nbsp; <br> Notional <br>Amount<br>| &nbsp;&nbsp;&nbsp; <br> Market <br>Value<br>| &nbsp;&nbsp;&nbsp; <br> Unrealized <br>Depreciation<br>|
| **Contracts to Buy:** |  |  |  |  |  |
| 3-Month SOFR | &nbsp;&nbsp;&nbsp;&nbsp; 814 | &nbsp;&nbsp;&nbsp;&nbsp; 6/26 | &nbsp;&nbsp;&nbsp;&nbsp; $196399560 | &nbsp;&nbsp;&nbsp;&nbsp; $196021375 | &nbsp;&nbsp;&nbsp;&nbsp; $(378185) |
| U.S. Treasury 2-Year Notes | &nbsp;&nbsp;&nbsp;&nbsp; 2222 | &nbsp;&nbsp;&nbsp;&nbsp; 6/26 | &nbsp;&nbsp;&nbsp;&nbsp; 462632220 | &nbsp;&nbsp;&nbsp;&nbsp; 460943484 | &nbsp;&nbsp;&nbsp;&nbsp; (1688736) |
| U.S. Treasury 5-Year Notes | &nbsp;&nbsp;&nbsp;&nbsp; 2706 | &nbsp;&nbsp;&nbsp;&nbsp; 6/26 | &nbsp;&nbsp;&nbsp;&nbsp; 296308117 | &nbsp;&nbsp;&nbsp;&nbsp; 292734241 | &nbsp;&nbsp;&nbsp;&nbsp; (3573876) |
| U.S. Treasury 10-Year Notes | &nbsp;&nbsp;&nbsp;&nbsp; 318 | &nbsp;&nbsp;&nbsp;&nbsp; 6/26 | &nbsp;&nbsp;&nbsp;&nbsp; 35423848 | &nbsp;&nbsp;&nbsp;&nbsp; 35312908 | &nbsp;&nbsp;&nbsp;&nbsp; (110940) |
|  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp; (5751737) |
| **Contracts to Sell:** |  |  |  |  |  |
| U.S. Treasury Ultra 10-Year Notes | &nbsp;&nbsp;&nbsp;&nbsp; 10 | &nbsp;&nbsp;&nbsp;&nbsp; 6/26 | &nbsp;&nbsp;&nbsp;&nbsp; 1131701 | &nbsp;&nbsp;&nbsp;&nbsp; 1135156 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (3455) |
| **Net unrealized depreciation on open futures contracts** | **Net unrealized depreciation on open futures contracts** | **Net unrealized depreciation on open futures contracts** | **Net unrealized depreciation on open futures contracts** | **Net unrealized depreciation on open futures contracts** | &nbsp;&nbsp;&nbsp; **$(5755192)** |

---

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

---

| | | |
|:---|:---|:---|
| **Abbreviation(s) used in this table:** | **Abbreviation(s) used in this table:** | **Abbreviation(s) used in this table:** |
| SOFR |  | Secured Overnight Financing Rate |

---

At March 31, 2026, the Fund had the following open swap contracts:

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| <br> **CENTRALLY CLEARED INTEREST RATE SWAPS**  | <br> **CENTRALLY CLEARED INTEREST RATE SWAPS**  | <br> **CENTRALLY CLEARED INTEREST RATE SWAPS**  | <br> **CENTRALLY CLEARED INTEREST RATE SWAPS**  | <br> **CENTRALLY CLEARED INTEREST RATE SWAPS**  | <br> **CENTRALLY CLEARED INTEREST RATE SWAPS**  | <br> **CENTRALLY CLEARED INTEREST RATE SWAPS**  |
| &nbsp;&nbsp;&nbsp; Notional <br>Amount<br>| &nbsp;&nbsp;&nbsp; Termination <br>Date<br>| &nbsp;&nbsp;&nbsp;&nbsp; Payments <br>Made by <br>the Fund<sup>†</sup> <br>| &nbsp;&nbsp;&nbsp;&nbsp; Payments <br>Received by <br>the Fund<sup>†</sup> <br>| &nbsp;&nbsp;&nbsp; Market <br>Value<br>| &nbsp;&nbsp;&nbsp; Upfront <br>Premiums <br>Paid <br>&nbsp;&nbsp;&nbsp;&nbsp;(Received)<br>| &nbsp;&nbsp;&nbsp; Unrealized <br>Appreciation<br>|
| &nbsp;&nbsp;&nbsp;&nbsp; $310750000 | &nbsp;&nbsp;&nbsp;&nbsp; 12/15/27 | &nbsp;&nbsp;&nbsp;&nbsp; 3.320% <br>annually<br>| &nbsp;&nbsp;&nbsp;&nbsp; Daily SOFR <br>Compound <br>annually<br>| &nbsp;&nbsp;&nbsp;&nbsp; $1706144 | &nbsp;&nbsp;&nbsp;&nbsp; $(25016) | &nbsp;&nbsp;&nbsp;&nbsp; $1731160 |

---

See Notes to Schedule of Investments.

------

Western Asset Core Bond Fund 2026 Quarterly Report

------

Schedule of Investments (unaudited) (cont'd)

March 31, 2026

 **Western Asset Core Bond Fund**

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **CENTRALLY CLEARED INTEREST RATE SWAPS (cont'd)**  | **CENTRALLY CLEARED INTEREST RATE SWAPS (cont'd)**  | **CENTRALLY CLEARED INTEREST RATE SWAPS (cont'd)**  | **CENTRALLY CLEARED INTEREST RATE SWAPS (cont'd)**  | **CENTRALLY CLEARED INTEREST RATE SWAPS (cont'd)**  | **CENTRALLY CLEARED INTEREST RATE SWAPS (cont'd)**  | **CENTRALLY CLEARED INTEREST RATE SWAPS (cont'd)**  | **CENTRALLY CLEARED INTEREST RATE SWAPS (cont'd)**  |
|  | &nbsp;&nbsp;&nbsp; Notional<br> Amount<br>| &nbsp;&nbsp;&nbsp; Termination<br> Date<br>| &nbsp;&nbsp;&nbsp;&nbsp; Payments<br> Made by<br> the Fund<sup>†</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; Payments<br> Received by<br> the Fund<sup>†</sup><br>| &nbsp;&nbsp;&nbsp; Market<br> Value<br>| &nbsp;&nbsp;&nbsp; Upfront<br> Premiums<br> Paid<br> &nbsp;&nbsp;&nbsp;&nbsp;(Received)<br>| &nbsp;&nbsp;&nbsp; Unrealized<br> Appreciation<br>|
|  | &nbsp;&nbsp;&nbsp;&nbsp; $82190000 | &nbsp;&nbsp;&nbsp;&nbsp; 11/21/30 | 2.452%\* | CPURNSA\* | &nbsp;&nbsp;&nbsp;&nbsp; $221094 | &nbsp;&nbsp;&nbsp;&nbsp; $(38990) | &nbsp;&nbsp;&nbsp;&nbsp; $260084 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; 157177000 | &nbsp;&nbsp;&nbsp;&nbsp; 1/31/33 | &nbsp;&nbsp;&nbsp;&nbsp; 3.520% <br>annually<br>| &nbsp;&nbsp;&nbsp;&nbsp; Daily SOFR <br>Compound <br>annually<br>| &nbsp;&nbsp;&nbsp;&nbsp; 1655436 | &nbsp;&nbsp;&nbsp;&nbsp; 343382 | &nbsp;&nbsp;&nbsp;&nbsp; 1312054 |
| **Total** | &nbsp;&nbsp;&nbsp; **$550117000** |  |  |  | &nbsp;&nbsp;&nbsp; **$3582674** | &nbsp;&nbsp;&nbsp; **$279376** | &nbsp;&nbsp;&nbsp; **$3303298** |

---

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

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| <br> **OTC CREDIT DEFAULT SWAPS ON CREDIT INDICES — SELL PROTECTION**<sup>1</sup>  | <br> **OTC CREDIT DEFAULT SWAPS ON CREDIT INDICES — SELL PROTECTION**<sup>1</sup>  | <br> **OTC CREDIT DEFAULT SWAPS ON CREDIT INDICES — SELL PROTECTION**<sup>1</sup>  | <br> **OTC CREDIT DEFAULT SWAPS ON CREDIT INDICES — SELL PROTECTION**<sup>1</sup>  | <br> **OTC CREDIT DEFAULT SWAPS ON CREDIT INDICES — SELL PROTECTION**<sup>1</sup>  | <br> **OTC CREDIT DEFAULT SWAPS ON CREDIT INDICES — SELL PROTECTION**<sup>1</sup>  | <br> **OTC CREDIT DEFAULT SWAPS ON CREDIT INDICES — SELL PROTECTION**<sup>1</sup>  |
| Swap Counterparty <br>(Reference Entity)<br>| Notional <br>Amount<sup>2</sup> <br>| &nbsp;&nbsp;&nbsp; Termination <br>Date<br>| &nbsp;&nbsp;&nbsp;&nbsp; Periodic <br>Payments <br>Received by <br>the Fund<sup>†</sup> <br>| &nbsp;&nbsp;&nbsp; Market <br>Value<sup>3</sup> <br>| &nbsp;&nbsp;&nbsp; Upfront <br>Premiums <br>Paid <br>&nbsp;&nbsp;&nbsp;&nbsp;(Received)<br>| &nbsp;&nbsp;&nbsp; Unrealized <br>Appreciation<br>|
| Bank of America N.A. <br>(PrimeX.FRM.1), 4.420%, due 7/25/36<br>| $186628 | &nbsp;&nbsp;&nbsp;&nbsp; 7/25/36 | 4.420% monthly | &nbsp;&nbsp;&nbsp; **$18712** | &nbsp;&nbsp;&nbsp; **$6979** | &nbsp;&nbsp;&nbsp; **$11733**<sup>(a)(b)</sup> <br>|

---

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

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| <br> **CENTRALLY CLEARED CREDIT DEFAULT SWAPS ON CREDIT INDICES — SELL PROTECTION**<sup>1</sup>  | <br> **CENTRALLY CLEARED CREDIT DEFAULT SWAPS ON CREDIT INDICES — SELL PROTECTION**<sup>1</sup>  | <br> **CENTRALLY CLEARED CREDIT DEFAULT SWAPS ON CREDIT INDICES — SELL PROTECTION**<sup>1</sup>  | <br> **CENTRALLY CLEARED CREDIT DEFAULT SWAPS ON CREDIT INDICES — SELL PROTECTION**<sup>1</sup>  | <br> **CENTRALLY CLEARED CREDIT DEFAULT SWAPS ON CREDIT INDICES — SELL PROTECTION**<sup>1</sup>  | <br> **CENTRALLY CLEARED CREDIT DEFAULT SWAPS ON CREDIT INDICES — SELL PROTECTION**<sup>1</sup>  | <br> **CENTRALLY CLEARED CREDIT DEFAULT SWAPS ON CREDIT INDICES — SELL PROTECTION**<sup>1</sup>  |
| Reference Entity | Notional <br>Amount<sup>2</sup> <br>| &nbsp;&nbsp;&nbsp; Termination <br>Date<br>| &nbsp;&nbsp;&nbsp;&nbsp; Periodic <br>Payments <br>Received by <br>the Fund<sup>†</sup> <br>| &nbsp;&nbsp;&nbsp; Market <br>Value<sup>3</sup> <br>| &nbsp;&nbsp;&nbsp; Upfront <br>Premiums <br>Paid <br>&nbsp;&nbsp;&nbsp;&nbsp;(Received)<br>| &nbsp;&nbsp;&nbsp; Unrealized <br>Appreciation<br>|
| Markit CDX.NA.IG.46 Index | $196519000 | &nbsp;&nbsp;&nbsp;&nbsp; 6/20/31 | 1.000% quarterly | &nbsp;&nbsp;&nbsp; **$3392100** | &nbsp;&nbsp;&nbsp; **$3323758** | &nbsp;&nbsp;&nbsp; **$68342** |

---

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

---

| | |
|:---|:---|
| <sup>1</sup> | If the Fund is a seller of protection and a credit event occurs, as defined under the terms of that particular swap agreement, the Fund will either (i) pay to <br> the buyer of protection an amount equal to the notional amount of the swap and take delivery of the referenced obligation or underlying securities <br> comprising the referenced index or (ii) pay a net settlement amount in the form of cash or securities equal to the notional amount of the swap less the <br> recovery value of the referenced obligation or underlying securities comprising the referenced index.<br>|
| <sup>2</sup> | The maximum potential amount the Fund could be required to pay as a seller of credit protection or receive as a buyer of credit protection if a credit event <br> occurs as defined under the terms of that particular swap agreement.<br>|
| <sup>3</sup> | The quoted market prices and resulting values for credit default swap agreements on asset-backed securities and credit indices serve as an indicator of the <br> current status of the payment/performance risk and represent the likelihood of an expected loss (or profit) for the credit derivative had the notional amount <br> of the swap agreement been closed/sold as of the period end. Decreasing market values (sell protection) or increasing market values (buy protection), when <br> compared to the notional amount of the swap, represent a deterioration of the referenced entity's credit soundness and a greater likelihood or risk of <br> default or other credit event occurring as defined under the terms of the agreement.<br>|
| † | Percentage shown is an annual percentage rate. |
| \* | One time payment made at termination date. |
| <sup>(a)</sup> | Swap contract is valued using significant unobservable inputs (Note 1). |
| <sup>(b)</sup> | Swap contract is fair valued in accordance with procedures approved by the Board of Directors (Note 1). |

---

Reference rate(s) and their value(s) as of period end used in this table:

---

| | |
|:---|:---|
| Reference Index | Reference <br>Rate<br>|
| &nbsp;&nbsp;&nbsp; CPURNSA | 3.302% |
| &nbsp;&nbsp;&nbsp; Daily SOFR Compound | 3.680% |

---

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

---

| | | |
|:---|:---|:---|
| **Abbreviation(s) used in this table:** | **Abbreviation(s) used in this table:** | **Abbreviation(s) used in this table:** |
| CPURNSA |  | U.S. CPI Urban Consumers NSA Index |
| SOFR |  | Secured Overnight Financing Rate |

---

This Schedule of Investments is unaudited and is intended to provide information about the Fund's investments as of the date of the schedule. Other information regarding the Fund is available in the Fund's most recent annual or semi-annual shareholder report.

See Notes to Schedule of Investments.

------

Western Asset Core Bond Fund 2026 Quarterly Report

------

Notes to Schedule of Investments (unaudited)

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

**1. Organization and significant accounting policies** 

Western Asset Core Bond Fund (the "Fund") is a separate diversified investment series of Western Asset Funds, Inc. (the "Corporation"). The Corporation, a Maryland corporation, is registered under the Investment Company Act of 1940, as amended (the "1940 Act"), as an open-end management investment company.

The Fund follows the accounting and reporting guidance in Financial Accounting Standards Board ("FASB") Accounting Standards Codification Topic 946, *Financial Services – Investment Companies* ("ASC 946"). The following are significant accounting policies consistently followed by the Fund and are in conformity with U.S. generally accepted accounting principles ("GAAP"), including, but not limited to, ASC 946.

**(a) Investment valuation.** The valuations for fixed income securities (which may include, but are not limited to, corporate, government, municipal, mortgage-backed, collateralized mortgage obligations and asset-backed securities) and certain derivative instruments are typically the prices supplied by independent third party pricing services, which may use market prices or broker/dealer quotations or a variety of valuation techniques and methodologies. The independent third party pricing services typically use inputs that are observable such as issuer details, interest rates, yield curves, prepayment speeds, credit risks/spreads, default rates and quoted prices for similar securities. Investments in open-end funds are valued at the closing net asset value per share of each fund on the day of valuation. Futures contracts are valued daily at the settlement price established by the board of trade or exchange on which they are traded. Equity securities for which market quotations are available are valued at the last reported sales price or official closing price on the primary market or exchange on which they trade. When the Fund holds securities or other assets that are denominated in a foreign currency, the Fund will normally use the currency exchange rates as of 4:00 p.m. (Eastern Time). If independent third party pricing services are unable to supply prices for a portfolio investment, or if the prices supplied are deemed by the manager to be unreliable, the market price may be determined by the manager using quotations from one or more broker/dealers or at the transaction price if the security has recently been purchased and no value has yet been obtained from a pricing service or pricing broker. When reliable prices are not readily available, such as when the value of a security has been significantly affected by events after the close of the exchange or market on which the security is principally traded, but before the Fund calculates its net asset value, the Fund values these securities as determined in accordance with procedures approved by the Fund's Board of Directors (the "Board").

Pursuant to policies adopted by the Board, the Fund's manager has been designated as the valuation designee and is responsible for the oversight of the daily valuation process. The Fund's manager is assisted by the Global Fund Valuation Committee (the "Valuation Committee"). The Valuation Committee is responsible for making fair value determinations, evaluating the effectiveness of the Fund's pricing policies, and reporting to the Fund's manager and the Board. When determining the reliability of third party pricing information for investments owned by the Fund, the Valuation Committee, among other things, conducts due diligence reviews of pricing vendors, monitors the daily change in prices and reviews transactions among market participants.

The Valuation Committee will consider pricing methodologies it deems relevant and appropriate when making fair value determinations. Examples of possible methodologies include, but are not limited to, multiple of earnings; discount from market of a similar freely traded security; discounted cash-flow analysis; book value or a multiple thereof; risk premium/yield analysis; yield to maturity; and/or fundamental investment analysis. The Valuation Committee will also consider factors it deems relevant and appropriate in light of the facts and circumstances. Examples of possible factors include, but are not limited to, the type of security; the issuer's financial statements; the purchase price of the security; the discount from market value of unrestricted securities of the same class at the time of purchase; analysts' research and observations from financial institutions; information regarding any transactions or offers with respect to the security; the existence of merger proposals or tender offers affecting the security; the price and extent of public trading in similar securities of the issuer or comparable companies; and the existence of a shelf registration for restricted securities.

For each portfolio security that has been fair valued pursuant to the policies adopted by the Board, the fair value price is compared against the last available and next available market quotations. The Valuation Committee reviews the results of such back testing monthly and fair valuation occurrences are reported to the Board quarterly.

The Fund uses valuation techniques to measure fair value that are consistent with the market approach and/or income approach, depending on the type of security and the particular circumstance. The market approach uses prices and other relevant information generated by market transactions involving identical or comparable securities. The income approach uses valuation techniques to discount estimated future cash flows to present value.

------

Western Asset Core Bond Fund 2026 Quarterly Report

------

Notes to Schedule of Investments (unaudited) (cont'd)

GAAP establishes a disclosure hierarchy that categorizes the inputs to valuation techniques used to value assets and liabilities at measurement date. These inputs are summarized in the three broad levels listed below:

• Level 1 — unadjusted quoted prices in active markets for identical investments

• Level 2 — other significant observable inputs (including quoted prices for similar investments, interest rates, prepayment speeds, credit risk, etc.)

• Level 3 — significant unobservable inputs (including the Fund's own assumptions in determining the fair value of investments)

The inputs or methodologies used to value securities are not necessarily an indication of the risk associated with investing in those securities.

The following is a summary of the inputs used in valuing the Fund's assets and liabilities carried at fair value: <br>

---

| | | | | |
|:---|:---|:---|:---|:---|
| **ASSETS** | **ASSETS** | **ASSETS** | **ASSETS** | **ASSETS** |
| Description | &nbsp;&nbsp; Quoted Prices <br>(Level 1)<br>| &nbsp;&nbsp; Other Significant <br>Observable Inputs <br>(Level 2)<br>| &nbsp;&nbsp; Significant <br>Unobservable <br>Inputs <br>(Level 3)<br>| Total |
| Long-Term Investments†: |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Corporate Bonds & Notes | &nbsp;&nbsp; — | &nbsp;&nbsp; $599638497 | &nbsp;&nbsp; — | &nbsp;&nbsp; $599638497 |
| &nbsp;&nbsp;&nbsp; Mortgage-Backed Securities | &nbsp;&nbsp; — | &nbsp;&nbsp; 439568039 | &nbsp;&nbsp; — | &nbsp;&nbsp; 439568039 |
| &nbsp;&nbsp;&nbsp; Collateralized Mortgage Obligations | &nbsp;&nbsp; — | &nbsp;&nbsp; 297333690 | &nbsp;&nbsp; — | &nbsp;&nbsp; 297333690 |
| &nbsp;&nbsp;&nbsp; U.S. Government & Agency Obligations | &nbsp;&nbsp; — | &nbsp;&nbsp; 247436700 | &nbsp;&nbsp; — | &nbsp;&nbsp; 247436700 |
| &nbsp;&nbsp;&nbsp; Asset-Backed Securities | &nbsp;&nbsp; — | &nbsp;&nbsp; 182769233 | &nbsp;&nbsp; — | &nbsp;&nbsp; 182769233 |
| &nbsp;&nbsp;&nbsp; U.S. Treasury Inflation Protected Securities | &nbsp;&nbsp; — | &nbsp;&nbsp; 24049178 | &nbsp;&nbsp; — | &nbsp;&nbsp; 24049178 |
| &nbsp;&nbsp;&nbsp; Sovereign Bonds | &nbsp;&nbsp; — | &nbsp;&nbsp; 18791307 | &nbsp;&nbsp; — | &nbsp;&nbsp; 18791307 |
| &nbsp;&nbsp;&nbsp; Purchased Options | &nbsp;&nbsp; $91438 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 91438 |
| **Total Investments** | &nbsp;&nbsp; **$91438** | &nbsp;&nbsp; **$1809586644** | &nbsp;&nbsp; **—** | &nbsp;&nbsp; **$1809678082** |
| Other Financial Instruments: |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Centrally Cleared Interest Rate Swaps†† | &nbsp;&nbsp; — | &nbsp;&nbsp; $3303298 | &nbsp;&nbsp; — | &nbsp;&nbsp; $3303298 |
| &nbsp;&nbsp;&nbsp; OTC Credit Default Swaps on Credit Indices — Sell Protection | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; $18712 | &nbsp;&nbsp; 18712 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Centrally Cleared Credit Default Swaps on Credit Indices — Sell <br> Protection††<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; 68342 | &nbsp;&nbsp; — | &nbsp;&nbsp; 68342 |
| **Total Other Financial Instruments** | &nbsp;&nbsp; **—** | &nbsp;&nbsp; **$3371640** | &nbsp;&nbsp; **$18712** | &nbsp;&nbsp; **$3390352** |
| **Total** | &nbsp;&nbsp; **$91438** | &nbsp;&nbsp; **$1812958284** | &nbsp;&nbsp; **$18712** | &nbsp;&nbsp; **$1813068434** |
| **LIABILITIES**  | **LIABILITIES**  | **LIABILITIES**  | **LIABILITIES**  | **LIABILITIES**  |
| Description | &nbsp;&nbsp; Quoted Prices <br>(Level 1)<br>| &nbsp;&nbsp; Other Significant <br>Observable Inputs <br>(Level 2)<br>| &nbsp;&nbsp; Significant <br>Unobservable <br>Inputs <br>(Level 3)<br>| Total |
| Other Financial Instruments: |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Written Options | &nbsp;&nbsp; $104742 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; $104742 |
| &nbsp;&nbsp;&nbsp; Futures Contracts†† | &nbsp;&nbsp; 5755192 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 5755192 |
| **Total** | &nbsp;&nbsp; **$5859934** | &nbsp;&nbsp; **—** | &nbsp;&nbsp; **—** | &nbsp;&nbsp; **$5859934** |

---

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

† See Schedule of Investments for additional detailed categorizations. <br> †† Reflects the unrealized appreciation (depreciation) of the instruments.

**2. Transactions with affiliated company**

As defined by the 1940 Act, an affiliated company is one in which the Fund owns 5% or more of the outstanding voting securities, or a company which is under common ownership or control with the Fund. The following company was considered an affiliated company for all or some portion of the period ended March 31, 2026. The following transactions were effected

------

Western Asset Core Bond Fund 2026 Quarterly Report

------

in such company for the period ended March 31, 2026. <br>

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | Affiliate <br>Value at <br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>December 31, <br>2025 | Purchased | Purchased | Sold | Sold |
|  | Affiliate <br>Value at <br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>December 31, <br>2025 | Cost | Shares | Proceeds | Shares |
| Western Asset Premier <br> Institutional Government <br> Reserves, Premium <br> Shares<br>| $5570812 | $107059047 | 107059047 | $112629859 | 112629859 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>

---

| | | | | |
|:---|:---|:---|:---|:---|
| (cont'd) | Realized <br>Gain (Loss)<br>| Dividend <br>Income<br>| Net Increase <br>(Decrease) in <br>Unrealized <br>Appreciation <br>(Depreciation)<br>| Affiliate <br>Value at <br>March 31, <br>2026<br>|
| Western Asset Premier <br> Institutional Government <br> Reserves, Premium Shares<br>|  | $177085 |  |  |

---

------

Western Asset Core Bond Fund 2026 Quarterly Report

------

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** Western Asset Funds Inc

- **b. Investment Company Act file number:** 811-06110

- **c. CIK number of Registrant:** 0000863520

- **d. LEI of Registrant:** 5493004NC00X8WKL1P34

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

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

  - **City:** New York

  - **State:** NY

  - **Foreign country:** US

  - **Zip / Postal Code:** 10010

  - **Telephone number:** 1-877-721-1926

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

- **a. Name of Series:** Western Asset Core Bond Fund

- **b. EDGAR series identifier (if any):** S000000713

- **c. LEI of Series:** 549300Q2LEO7M5HGWP70

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

- **a. Date of fiscal year-end:** 2026-12-31

- **b. Date as of which information is reported:** 2026-03-31

**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:** $1870641859.81

**Total Liabilities:** $104748036.93

**Net Assets:** $1765893822.88

**Delayed Delivery Securities:** $7013469.72

**Stand-by Commitments:** $82617214.97

**Cash Not Reported:** $9551629.48

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** 1476.10000000 | **1-Year:** 98278.46000000 | **5-Year:** 519434.51000000 | **10-Year:** 206450.20000000 | **30-Year:** 17540.19000000

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

- **3-Month:** 8.21000000 | **1-Year:** 1150.04000000 | **5-Year:** 3968.05000000 | **10-Year:** 3514.39000000 | **30-Year:** 0.00000000

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000002080 | 0.29%                | 1.50%                | -1.98%               |
| Class ID C000113702 | 0.23%                | 1.44%                | -2.04%               |
| Class ID C000066988 | 0.23%                | 1.53%                | -1.95%               |
| Class ID C000117034 | 0.24%                | 1.36%                | -2.04%               |
| Class ID C000002079 | 0.23%                | 1.53%                | -1.96%               |
| Class ID C000113701 | 0.29%                | 1.41%                | -1.99%               |
| Class ID C000113703 | 0.27%                | 1.47%                | -2.01%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-7442460.67             | $8238022.83                                |
| Month 2  | $-2684361.64             | $23744051.23                               |
| Month 3  | $-1650030.21             | $-38295408.98                              |

**Designated Index Information**

- **Index Name:** Bloomberg US Aggregate

- **Index Identifier:** BM0838

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Government National Mortgage Association                                             | G2 787228                                                    | CUSIP: 3622AC4M9<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   9038713 | PA      | $9387567.91   | 0.53%             | 2054-01-20      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| AT&T Inc                                                                             | T 4.35 06/15/45                                              | CUSIP: 00206RBK7<br>LEI: 549300Z40J86GGSTL398 | Long             | DBT              | CORP              | US        |   1300000 | PA      | $1051180.13   | 0.06%             | 2045-06-15      | Fixed         | 4.35%                 | No            |                  2 | On Loan: No      |
| United States Treasury Notes                                                         | TII 2.125 01/15/35                                           | CUSIP: 91282CML2<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  13398190 | PA      | $13628781.16  | 0.77%             | 2035-01-15      | Fixed         | 2.12%                 | No            |                  2 | On Loan: No      |
| MERRILL LYNCH MORTGAGE INVESTORS TRUST 2006-RM2                                      | MLMI 2005-A9 3A1                                             | CUSIP: 59020UW27<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      9480 | PA      | $3959.80      | 0.00%             | 2035-12-25      | Variable      | 5.64%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                                                | FNR 2012-46 BA                                               | CUSIP: 3136A5J49<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-O            | USGSE             | US        |    268649 | PA      | $280939.63    | 0.02%             | 2042-05-25      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Oracle Corp.                                                                         | ORCL 6.85 02/04/66                                           | CUSIP: 68389XEC5<br>LEI: 1Z4GXXU7ZHVWFCD8TV52 | Long             | DBT              | CORP              | US        |    560000 | PA      | $515327.11    | 0.03%             | 2066-02-04      | Fixed         | 6.85%                 | No            |                  2 | On Loan: No      |
| WILLIAMS COMPANIES INC (THE)                                                         | WMB 3.75 06/15/27                                            | CUSIP: 96949LAD7<br>LEI: D71FAKCBLFS2O0RBPG08 | Long             | DBT              | CORP              | US        |     90000 | PA      | $89341.80     | 0.01%             | 2027-06-15      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| Kinder Morgan Energy Partners LP                                                     | KMI 7.3 08/15/33                                             | CUSIP: 494550AQ9<br>LEI: 549300PDHUGWPWGOT525 | Long             | DBT              | CORP              | US        |    110000 | PA      | $124241.00    | 0.01%             | 2033-08-15      | Fixed         | 7.30%                 | No            |                  2 | On Loan: No      |
| Synopsys Inc                                                                         | SNPS 4.85 04/01/30                                           | CUSIP: 871607AC1<br>LEI: QG7T915N9S0NY5UKNE63 | Long             | DBT              | CORP              | US        |    850000 | PA      | $856477.02    | 0.05%             | 2030-04-01      | Fixed         | 4.85%                 | No            |                  2 | On Loan: No      |
| Amazon.com, Inc.                                                                     | AMZN 4.65 11/20/35                                           | CUSIP: 023135CV6<br>LEI: ZXTILKJKG63JELOEG630 | Long             | DBT              | CORP              | US        |    860000 | PA      | $843594.90    | 0.05%             | 2035-11-20      | Fixed         | 4.65%                 | No            |                  2 | On Loan: No      |
| CITIBANK NA                                                                          | SRGIM 5.75 05/28/35 144A                                     | CUSIP: 83304JAB3<br>LEI: E57ODZWZ7FF32TWEFA76 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $1020242.50   | 0.06%             | 2035-05-28      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Balboa Bay Loan Funding Ltd                                                          | Balboa Bay Loan Funding 2025-2 Ltd                           | CUSIP: 057915AA8<br>LEI: 2549002Z9TKO9WGID477 | Long             | ABS-CBDO         | CORP              | KY        |   2590000 | PA      | $2587695.42   | 0.15%             | 2039-01-20      | Floating      | 4.98%                 | No            |                  2 | On Loan: No      |
| Bristol-Myers Squibb Company                                                         | BMY 5.1 02/22/31                                             | CUSIP: 110122EG9<br>LEI: HLYYNH7UQUORYSJQCN42 | Long             | DBT              | CORP              | US        |    810000 | PA      | $832836.30    | 0.05%             | 2031-02-22      | Fixed         | 5.10%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                                                | FNR 2020-45 AI                                               | CUSIP: 3136BA4U5<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-O            | USGSE             | US        |   1236350 | PA      | $237203.52    | 0.01%             | 2050-07-25      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| American Express Company                                                             | AXP 4.05 05/03/29                                            | CUSIP: 025816CW7<br>LEI: R4PP93JZOLY261QX3811 | Long             | DBT              | CORP              | US        |    100000 | PA      | $99633.34     | 0.01%             | 2029-05-03      | Fixed         | 4.05%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                                                | FN BM3799                                                    | CUSIP: 3140J8GH0<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    244064 | PA      | $221057.15    | 0.01%             | 2047-08-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                             | GNR 2025-169 SA                                              | CUSIP: 38385HKU0<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-O            | USGA              | US        |  16318938 | PA      | $1632714.64   | 0.09%             | 2055-10-20      | Floating      | 2.93%                 | No            |                  2 | On Loan: No      |
| Boeing Co.                                                                           | BA 3.25 02/01/35                                             | CUSIP: 097023CP8<br>LEI: RVHJWBXLJ1RFUBSY1F30 | Long             | DBT              | CORP              | US        |   1827000 | PA      | $1566959.84   | 0.09%             | 2035-02-01      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| Altria Group, Inc.                                                                   | MO 5.95 02/14/49                                             | CUSIP: 02209SBF9<br>LEI: XSGZFLO9YTNO9VCQV219 | Long             | DBT              | CORP              | US        |     44000 | PA      | $42690.57     | 0.00%             | 2049-02-14      | Fixed         | 5.95%                 | No            |                  2 | On Loan: No      |
| Cooperatieve Rabobank U.A.                                                           | RABOBK V3.758 04/06/33 144A                                  | CUSIP: 74977RDP6<br>LEI: DG3RU1DBUFHT4ZF9WN62 | Long             | DBT              | CORP              | NL        |   2210000 | PA      | $2070723.46   | 0.12%             | 2033-04-06      | Fixed         | 3.76%                 | No            |                  2 | On Loan: No      |
| Uruguay (Republic Of)                                                                | URUGUA 7.625 03/21/36                                        | CUSIP: 760942AS1<br>LEI: 549300RDR012H2V82H43 | Long             | DBT              | NUSS              | UY        |   1730000 | PA      | $2040794.50   | 0.12%             | 2036-03-21      | Fixed         | 7.62%                 | No            |                  2 | On Loan: No      |
| MOSAIC SOLAR LOAN TRUST 2024-1                                                       | MSAIC 2024-1A A                                              | CUSIP: 618937AA4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   2371740 | PA      | $2252847.61   | 0.13%             | 2049-09-20      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Bank of America Corp.                                                                | BAC V3.419 12/20/28                                          | CUSIP: 06051GHD4<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |   5666000 | PA      | $5568103.59   | 0.32%             | 2028-12-20      | Fixed         | 3.42%                 | No            |                  2 | On Loan: No      |
| MORGAN STANLEY CAPITAL I TRUST 2019-L2                                               | MSC 2019-L2 XA                                               | CUSIP: 61768HAX4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |  37853156 | PA      | $898637.72    | 0.05%             | 2052-03-15      | Variable      | 1.00%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                                                | FNR 2024-18 IO                                               | CUSIP: 3136BRLM7<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-O            | USGSE             | US        |   2418103 | PA      | $416881.17    | 0.02%             | 2049-11-25      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                                                | FN BD9144                                                    | CUSIP: 3140FHES2<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     33571 | PA      | $30318.65     | 0.00%             | 2046-11-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                                                | FN AW1555                                                    | CUSIP: 3138XQWR8<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     17663 | PA      | $17506.80     | 0.00%             | 2044-04-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                             | GNR 2021-159 JI                                              | CUSIP: 38382XP25<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-O            | USGA              | US        |   5385542 | PA      | $488863.40    | 0.03%             | 2051-06-20      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                                                | FN 882533                                                    | CUSIP: 31409YPS0<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |       183 | PA      | $187.62       | 0.00%             | 2036-05-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| DC COMMERCIAL MORTGAGE TRUST 2023-D                                                  | DC 2023-DC A                                                 | CUSIP: 24023AAA8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   5590000 | PA      | $5702771.54   | 0.32%             | 2040-09-12      | Fixed         | 6.31%                 | No            |                  2 | On Loan: No      |
| Union Pacific Corporation                                                            | UNP 3.839 03/20/60                                           | CUSIP: 907818FG8<br>LEI: 549300LMMRSZZCZ8CL11 | Long             | DBT              | CORP              | US        |   1360000 | PA      | $963329.87    | 0.05%             | 2060-03-20      | Fixed         | 3.84%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                             | G2 BD0384                                                    | CUSIP: 3617BFM90<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    945563 | PA      | $875949.02    | 0.05%             | 2047-10-20      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| T-Mobile USA, Inc.                                                                   | TMUS 4.375 04/15/40                                          | CUSIP: 87264AAX3<br>LEI: 549300V2JRLO5DIFGE82 | Long             | DBT              | CORP              | US        |   1090000 | PA      | $958712.36    | 0.05%             | 2040-04-15      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| Verizon Communications Inc.                                                          | VZ 5.5 03/16/47                                              | CUSIP: 92343VDV3<br>LEI: 2S72QS2UO2OESLG6Y829 | Long             | DBT              | CORP              | US        |    564000 | PA      | $532485.70    | 0.03%             | 2047-03-16      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Teachers Insurance and Annuity Association of America                                | TIAAGL 4.9 09/15/44 144A                                     | CUSIP: 878091BD8<br>LEI: O06XD7BJ4EPXNABVFN69 | Long             | DBT              | CORP              | US        |   1480000 | PA      | $1317410.53   | 0.07%             | 2044-09-15      | Fixed         | 4.90%                 | No            |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corp.                                                     | FHR 3639 EY                                                  | CUSIP: 31398WQK3<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-O            | USGSE             | US        |    164007 | PA      | $165696.98    | 0.01%             | 2030-02-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Bank of America Corp.                                                                | BAC V4.083 03/20/51 MTN                                      | CUSIP: 06051GJA8<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |   1790000 | PA      | $1385537.47   | 0.08%             | 2051-03-20      | Fixed         | 4.08%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                                                | FN BF0104                                                    | CUSIP: 3140FXDJ8<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   2976548 | PA      | $2820103.14   | 0.16%             | 2056-02-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                             | GN 783094                                                    | CUSIP: 36241LNK8<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    353874 | PA      | $367762.06    | 0.02%             | 2034-08-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Energy Transfer LP                                                                   | ET 5.5 06/01/27 *                                            | CUSIP: 29278NAN3<br>LEI: MTLVN9N7JE8MIBIJ1H73 | Long             | DBT              | CORP              | US        |   2090000 | PA      | $2109804.82   | 0.12%             | 2027-06-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                                                | FN BF0064                                                    | CUSIP: 3140FXCA8<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    115094 | PA      | $109258.73    | 0.01%             | 2055-09-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| T-Mobile USA, Inc.                                                                   | TMUS 5.15 04/15/34                                           | CUSIP: 87264ADF9<br>LEI: 549300V2JRLO5DIFGE82 | Long             | DBT              | CORP              | US        |   2170000 | PA      | $2187103.90   | 0.12%             | 2034-04-15      | Fixed         | 5.15%                 | No            |                  2 | On Loan: No      |
| CSMC TRUST 2017-RPL1                                                                 | CSMC 2017-RPL1 M1                                            | CUSIP: 22945AAC3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |  11111850 | PA      | $9540059.93   | 0.54%             | 2057-07-25      | Variable      | 2.98%                 | No            |                  2 | On Loan: No      |
| Pacific Gas and Electric Company                                                     | PCG 3.5 08/01/50                                             | CUSIP: 694308JJ7<br>LEI: 1HNPXZSMMB7HMBMVBS46 | Long             | DBT              | CORP              | US        |   1690000 | PA      | $1118337.37   | 0.06%             | 2050-08-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Ginnie Mae (Ze)                                                                      | GNR 2025-214 S                                               | CUSIP: 38385KQ86<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-O            | USGA              | US        |   4700533 | PA      | $478968.81    | 0.03%             | 2055-12-20      | Floating      | 2.93%                 | No            |                  2 | On Loan: No      |
| Northrop Grumman Corporation                                                         | NOC 5.25 05/01/50                                            | CUSIP: 666807BU5<br>LEI: RIMU48P07456QXSO0R61 | Long             | DBT              | CORP              | US        |   2840000 | PA      | $2635947.33   | 0.15%             | 2050-05-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                             | GN 591009                                                    | CUSIP: 36201RR60<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |      4406 | PA      | $4449.27      | 0.00%             | 2032-08-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corp.                                                     | FHS 390 C17                                                  | CUSIP: 31325YXU7<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    417588 | PA      | $108304.54    | 0.01%             | 2052-11-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| KREF 2022-FL3                                                                        | KREF 2022-FL3 A                                              | CUSIP: 48275EAA4<br>LEI: 549300DG0FGL1EU1CT79 | Long             | ABS-CBDO         | CORP              | KY        |   1422314 | PA      | $1423064.62   | 0.08%             | 2039-02-22      | Floating      | 5.13%                 | No            |                  2 | On Loan: No      |
| Altria Group, Inc.                                                                   | MO 6.875 11/01/33                                            | CUSIP: 02209SBR3<br>LEI: XSGZFLO9YTNO9VCQV219 | Long             | DBT              | CORP              | US        |   2860000 | PA      | $3168606.98   | 0.18%             | 2033-11-01      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| CHICAGO MERCANTILE EXCHANGE INC.                                                     | IRS USD                                                      | CUSIP: 000000000<br>LEI: SNZ2OJLFK8MNNCLQOF39 | N/A              | DIR              | CORP              | US        |         1 | NC      | $1655436.88   | 0.09%             |  |  |  | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                             | GN 632184                                                    | CUSIP: 36291MJ53<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |       497 | PA      | $506.94       | 0.00%             | 2034-09-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| FREDDIE MAC STRUCTURED PASS THROUGH CERTIFICATES                                     | FHMS K093 X1                                                 | CUSIP: 3137FMCT7<br>LEI: N/A                  | Long             | ABS-O            | USGSE             | US        |  18390182 | PA      | $448148.51    | 0.03%             | 2029-05-25      | Variable      | 0.94%                 | No            |                  2 | On Loan: No      |
| T-Mobile USA, Inc.                                                                   | TMUS 2.25 11/15/31                                           | CUSIP: 87264ABX2<br>LEI: 549300V2JRLO5DIFGE82 | Long             | DBT              | CORP              | US        |   4130000 | PA      | $3631285.20   | 0.21%             | 2031-11-15      | Fixed         | 2.25%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                             | GNR 2017-157 IO                                              | CUSIP: 38380JBV9<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-O            | USGA              | US        |  12022875 | PA      | $380840.19    | 0.02%             | 2059-12-16      | Variable      | 0.52%                 | No            |                  2 | On Loan: No      |
| Citigroup Inc.                                                                       | C 4.45 09/29/27                                              | CUSIP: 172967KA8<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |   2862000 | PA      | $2862750.45   | 0.16%             | 2027-09-29      | Fixed         | 4.45%                 | No            |                  2 | On Loan: No      |
| Florida Gas Transmission Co.                                                         | CITCOR 5.75 07/15/35 144A                                    | CUSIP: 340711BC3<br>LEI: 549300Q0UQF87NXNOC32 | Long             | DBT              | CORP              | US        |   1690000 | PA      | $1734764.16   | 0.10%             | 2035-07-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| M&T EQUIPMENT (2024-LEAF1) LLC                                                       | MTLRF 2024-1A A4                                             | CUSIP: 55376YAD7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   6360000 | PA      | $6448618.33   | 0.37%             | 2031-08-18      | Fixed         | 4.94%                 | No            |                  2 | On Loan: No      |
| SLM PRIVATE EDUCATION LOAN TRUST 2010-C                                              | SLMA 2010-C A5                                               | CUSIP: 78445QAE1<br>LEI: 549300JEA36NHBYED811 | Long             | ABS-O            | CORP              | US        |   4727073 | PA      | $4962834.32   | 0.28%             | 2041-10-15      | Floating      | 8.54%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                             | GN 523537                                                    | CUSIP: 36211US29<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |      2025 | PA      | $2065.01      | 0.00%             | 2032-02-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Amazon.com, Inc.                                                                     | AMZN 4.55 03/13/33                                           | CUSIP: 023135DE3<br>LEI: ZXTILKJKG63JELOEG630 | Long             | DBT              | CORP              | US        |    570000 | PA      | $564680.33    | 0.03%             | 2033-03-13      | Fixed         | 4.55%                 | No            |                  2 | On Loan: No      |
| Barrick (PD) Australia Finance Pty Ltd                                               | ABXCN 5.95 10/15/39                                          | CUSIP: 06849UAD7<br>LEI: 5493008DX0TK7OFLV260 | Long             | DBT              | CORP              | AU        |   1628000 | PA      | $1671025.34   | 0.09%             | 2039-10-15      | Fixed         | 5.95%                 | No            |                  2 | On Loan: No      |
| AbbVie Inc.                                                                          | ABBV 4.25 11/21/49                                           | CUSIP: 00287YCB3<br>LEI: FR5LCKFTG8054YNNRU85 | Long             | DBT              | CORP              | US        |    909000 | PA      | $738371.98    | 0.04%             | 2049-11-21      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| Wells Fargo Commercial Mortgage                                                      | WFCM 2022-JS2 A                                              | CUSIP: 95003GAA9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   7480000 | PA      | $6715056.30   | 0.38%             | 2039-12-15      | Fixed         | 3.08%                 | No            |                  2 | On Loan: No      |
| Reynolds American Inc.                                                               | BATSLN 6.15 09/15/43                                         | CUSIP: 761713AZ9<br>LEI: 02S2RPPVO9RP4NEU2740 | Long             | DBT              | CORP              | US        |    300000 | PA      | $302412.19    | 0.02%             | 2043-09-15      | Fixed         | 6.15%                 | No            |                  2 | On Loan: No      |
| Union Pacific Corporation                                                            | UNP 2.4 02/05/30                                             | CUSIP: 907818FH6<br>LEI: 549300LMMRSZZCZ8CL11 | Long             | DBT              | CORP              | US        |    810000 | PA      | $754067.60    | 0.04%             | 2030-02-05      | Fixed         | 2.40%                 | No            |                  2 | On Loan: No      |
| AbbVie Inc.                                                                          | ABBV 4.8 03/15/29                                            | CUSIP: 00287YDS5<br>LEI: FR5LCKFTG8054YNNRU85 | Long             | DBT              | CORP              | US        |    710000 | PA      | $721503.52    | 0.04%             | 2029-03-15      | Fixed         | 4.80%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                             | GNR 2017-7 IO                                                | CUSIP: 38379U4A1<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-O            | USGA              | US        |  23803197 | PA      | $639544.31    | 0.04%             | 2058-12-16      | Variable      | 0.54%                 | No            |                  2 | On Loan: No      |
| Fedex Freight Holding Co. Inc.                                                       | FDX 4.3 03/15/29 144A                                        | CUSIP: 314352AA3<br>LEI: 984500Y1DA5A58ICE336 | Long             | DBT              | CORP              | US        |    840000 | PA      | $830126.69    | 0.05%             | 2029-03-15      | Fixed         | 4.30%                 | No            |                  2 | On Loan: No      |
| Las Vegas Sands Corp                                                                 | LVS 6 08/15/29                                               | CUSIP: 517834AK3<br>LEI: 549300DUOO1KXOHPM605 | Long             | DBT              | CORP              | US        |   1950000 | PA      | $2004708.52   | 0.11%             | 2029-08-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| SOTHEBY'S ARTFI MASTER TRUST                                                         | ARTFI 2026-1A A1                                             | CUSIP: 83589DAA4<br>LEI: 549300P5BAAMQQ7VL735 | Long             | ABS-O            | CORP              | US        |   2120000 | PA      | $2118955.69   | 0.12%             | 2033-06-20      | Fixed         | 4.80%                 | No            |                  2 | On Loan: No      |
| Verizon Communications Inc.                                                          | VZ 2.65 11/20/40                                             | CUSIP: 92343VFT6<br>LEI: 2S72QS2UO2OESLG6Y829 | Long             | DBT              | CORP              | US        |     60000 | PA      | $42145.04     | 0.00%             | 2040-11-20      | Fixed         | 2.65%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                             | GNR 2025-55 SD                                               | CUSIP: 38385D3H7<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-O            | USGA              | US        |  11890059 | PA      | $1029032.25   | 0.06%             | 2055-03-20      | Floating      | 2.28%                 | No            |                  2 | On Loan: No      |
| Amazon.com, Inc.                                                                     | AMZN 4.25 03/13/31                                           | CUSIP: 023135DD5<br>LEI: ZXTILKJKG63JELOEG630 | Long             | DBT              | CORP              | US        |    600000 | PA      | $595713.29    | 0.03%             | 2031-03-13      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| Oracle Corp.                                                                         | ORCL 5.95 09/26/55                                           | CUSIP: 68389XDR3<br>LEI: 1Z4GXXU7ZHVWFCD8TV52 | Long             | DBT              | CORP              | US        |    720000 | PA      | $606162.53    | 0.03%             | 2055-09-26      | Fixed         | 5.95%                 | No            |                  2 | On Loan: No      |
| Oracle Corp.                                                                         | ORCL 4.8 09/26/32                                            | CUSIP: 68389XDK8<br>LEI: 1Z4GXXU7ZHVWFCD8TV52 | Long             | DBT              | CORP              | US        |     80000 | PA      | $76211.59     | 0.00%             | 2032-09-26      | Fixed         | 4.80%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                                                | FN AI2462                                                    | CUSIP: 3138AFWY2<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |      7994 | PA      | $8083.94      | 0.00%             | 2041-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Teachers Insurance and Annuity Association of America                                | TIAAGL 6.85 12/16/39 144A                                    | CUSIP: 878091BC0<br>LEI: O06XD7BJ4EPXNABVFN69 | Long             | DBT              | CORP              | US        |     93000 | PA      | $104357.99    | 0.01%             | 2039-12-16      | Fixed         | 6.85%                 | No            |                  2 | On Loan: No      |
| FEDERAL HOME LOAN BANKS                                                              | FR SD7521                                                    | CUSIP: 3132DVLA1<br>LEI: 2549001DPIFGXC1TOL40 | Long             | ABS-MBS          | USGSE             | US        |  10180170 | PA      | $8758898.88   | 0.50%             | 2050-07-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                             | GN 580426                                                    | CUSIP: 36201DYX4<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |      1198 | PA      | $1234.48      | 0.00%             | 2034-07-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                                                | FN CA6783                                                    | CUSIP: 3140QERD6<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    265094 | PA      | $233943.13    | 0.01%             | 2040-08-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| JPMorgan Chase & Co.                                                                 | JPM V3.109 04/22/51                                          | CUSIP: 46647PBN5<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | DBT              | CORP              | US        |    220000 | PA      | $143729.31    | 0.01%             | 2051-04-22      | Fixed         | 3.11%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                                                | FN AU6051                                                    | CUSIP: 3138X5WM5<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    834170 | PA      | $807629.05    | 0.05%             | 2043-09-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                             | GN 582351                                                    | CUSIP: 36201F5L7<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |      2532 | PA      | $2566.67      | 0.00%             | 2032-10-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Peru (Republic Of)                                                                   | PERU 3.3 03/11/41                                            | CUSIP: 715638DS8<br>LEI: 254900STKLK2DBJJZ530 | Long             | DBT              | NUSS              | PE        |   1500000 | PA      | $1133850.00   | 0.06%             | 2041-03-11      | Fixed         | 3.30%                 | No            |                  2 | On Loan: No      |
| The Charles Schwab Corporation                                                       | SCHW V6.136 08/24/34                                         | CUSIP: 808513CH6<br>LEI: 549300VSGCJ7E698NM85 | Long             | DBT              | CORP              | US        |    670000 | PA      | $713475.00    | 0.04%             | 2034-08-24      | Fixed         | 6.14%                 | No            |                  2 | On Loan: No      |
| Air Lease Corporation                                                                | AL 5.3 02/01/28                                              | CUSIP: 00914AAU6<br>LEI: 5493004NW4M4P8TMMK63 | Long             | DBT              | CORP              | US        |    775000 | PA      | $784033.88    | 0.04%             | 2028-02-01      | Fixed         | 5.30%                 | No            |                  2 | On Loan: No      |
| Citigroup Inc.                                                                       | C 4.65 07/30/45                                              | CUSIP: 172967JU6<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |   1717000 | PA      | $1505705.91   | 0.09%             | 2045-07-30      | Fixed         | 4.65%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                             | GN 598082                                                    | CUSIP: 36200DM75<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |      4424 | PA      | $4464.45      | 0.00%             | 2033-02-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corp.                                                     | FG Q04651                                                    | CUSIP: 3132GKZQ2<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    513440 | PA      | $496786.60    | 0.03%             | 2041-11-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                             | GN 634338                                                    | CUSIP: 36291PV78<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |      3773 | PA      | $3895.81      | 0.00%             | 2034-08-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Honeywell Aerospace Inc.                                                             | HONA 4.3 03/16/31 144A                                       | CUSIP: 43849RAE5<br>LEI: 213800ZUAQRBYL67JS90 | Long             | DBT              | CORP              | US        |    210000 | PA      | $207798.93    | 0.01%             | 2031-03-16      | Fixed         | 4.30%                 | No            |                  2 | On Loan: No      |
| AT&T Inc                                                                             | T 3.5 09/15/53                                               | CUSIP: 00206RKJ0<br>LEI: 549300Z40J86GGSTL398 | Long             | DBT              | CORP              | US        |   1481000 | PA      | $971870.45    | 0.06%             | 2053-09-15      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Citigroup Inc.                                                                       | C V4.91 05/24/33                                             | CUSIP: 172967NU1<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |   1280000 | PA      | $1274803.85   | 0.07%             | 2033-05-24      | Fixed         | 4.91%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                                                | FN 869081                                                    | CUSIP: 31409ERA1<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |      3742 | PA      | $3867.88      | 0.00%             | 2036-05-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| FEDERAL HOME LN MTG CORP MULTICLASS MTG PARTN CTFS GTD                               | FHR 5206 IJ                                                  | CUSIP: 3137H6QT5<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-O            | USGSE             | US        |   1788908 | PA      | $366515.24    | 0.02%             | 2048-04-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                                                | FN FM5743                                                    | CUSIP: 3140X9LZ6<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   1637404 | PA      | $1407760.22   | 0.08%             | 2051-02-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                             | GN 781834                                                    | CUSIP: 36241KBB3<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |     10159 | PA      | $10603.30     | 0.00%             | 2034-09-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Royal Bank of Canada                                                                 | RY 5.15 02/01/34 GMTN                                        | CUSIP: 78016HZW3<br>LEI: ES7IP3U3RHIGC71XBU11 | Long             | DBT              | CORP              | CA        |    670000 | PA      | $685282.22    | 0.04%             | 2034-02-01      | Fixed         | 5.15%                 | No            |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corp.                                                     | FR QA5770                                                    | CUSIP: 3133A0MT8<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    332256 | PA      | $298865.72    | 0.02%             | 2050-01-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                             | GN 619173                                                    | CUSIP: 36290V2E3<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |      1008 | PA      | $1048.13      | 0.00%             | 2034-12-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Verizon Communications Inc.                                                          | VZ 4 03/22/50                                                | CUSIP: 92343VFD1<br>LEI: 2S72QS2UO2OESLG6Y829 | Long             | DBT              | CORP              | US        |     50000 | PA      | $37788.52     | 0.00%             | 2050-03-22      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| B.A.T. Capital Corporation                                                           | BATSLN 7.081 08/02/53                                        | CUSIP: 054989AD0<br>LEI: 2138005GYEXN7XRHFA84 | Long             | DBT              | CORP              | US        |    280000 | PA      | $309697.59    | 0.02%             | 2053-08-02      | Fixed         | 7.08%                 | No            |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corp.                                                     | FR RA8694                                                    | CUSIP: 3133KQUT1<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   2153132 | PA      | $2147720.99   | 0.12%             | 2053-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| HSBC Holdings PLC                                                                    | HSBC V2.848 06/04/31                                         | CUSIP: 404280CH0<br>LEI: MLU0ZO3ML4LN2LL2TL39 | Long             | DBT              | CORP              | GB        |   2410000 | PA      | $2227826.68   | 0.13%             | 2031-06-04      | Fixed         | 2.85%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                                                | FN BU9889                                                    | CUSIP: 3140MB7B2<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    183384 | PA      | $163719.28    | 0.01%             | 2052-01-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Berkshire Hathaway Energy Company                                                    | BRKHEC 5.95 05/15/37                                         | CUSIP: 59562VAP2<br>LEI: 549300JD0S5IZJE9LY15 | Long             | DBT              | CORP              | US        |      9000 | PA      | $9467.69      | 0.00%             | 2037-05-15      | Fixed         | 5.95%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                                                | FN FS5647                                                    | CUSIP: 3140XMHZ2<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   4248261 | PA      | $4304604.66   | 0.24%             | 2053-07-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Alphabet Inc.                                                                        | GOOGL 5.25 05/15/55                                          | CUSIP: 02079KAM9<br>LEI: 5493006MHB84DD0ZWV18 | Long             | DBT              | CORP              | US        |    660000 | PA      | $623673.02    | 0.04%             | 2055-05-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| FEDERAL HOME LN MTG CORP MULTICLASS MTG PARTN CTFS GTD                               | FHR 5449 FQ                                                  | CUSIP: 3137HFHU2<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-O            | USGSE             | US        |   1814213 | PA      | $1824767.70   | 0.10%             | 2054-09-25      | Floating      | 5.16%                 | No            |                  2 | On Loan: No      |
| AT&T Inc                                                                             | T 2.3 06/01/27                                               | CUSIP: 00206RJX1<br>LEI: 549300Z40J86GGSTL398 | Long             | DBT              | CORP              | US        |   2930000 | PA      | $2864759.80   | 0.16%             | 2027-06-01      | Fixed         | 2.30%                 | No            |                  2 | On Loan: No      |
| Pacific Gas and Electric Company                                                     | PCG 2.5 02/01/31                                             | CUSIP: 694308JG3<br>LEI: 1HNPXZSMMB7HMBMVBS46 | Long             | DBT              | CORP              | US        |   1930000 | PA      | $1730207.71   | 0.10%             | 2031-02-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                             | GN 592490                                                    | CUSIP: 36201TF77<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |      5182 | PA      | $5276.24      | 0.00%             | 2033-02-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Apidos Loan Fund 2024-1 Ltd/Apidos Loan Fund 2024-1 LLC                              | APID 2024-1A A1R                                             | CUSIP: 037986AN6<br>LEI: 549300092LX0NPUDVC76 | Long             | ABS-CBDO         | CORP              | JE        |   5750000 | PA      | $5748562.50   | 0.33%             | 2038-10-25      | Floating      | 4.92%                 | No            |                  2 | On Loan: No      |
| AMERICAN TRANSMISSION SYSTEMS INC                                                    | FE 2.65 01/15/32 144A                                        | CUSIP: 030288AC8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2180000 | PA      | $1954318.64   | 0.11%             | 2032-01-15      | Fixed         | 2.65%                 | No            |                  2 | On Loan: No      |
| NEW RESIDENTIAL MORTGAGE LOAN TRUST 2018-1                                           | NRZT 2018-1A A1A                                             | CUSIP: 64830GAB2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   4183165 | PA      | $4084207.44   | 0.23%             | 2057-12-25      | Variable      | 4.00%                 | No            |                  2 | On Loan: No      |
| BNP Paribas SA                                                                       | BNP V5.198 01/10/30 144a                                     | CUSIP: 09659W2H6<br>LEI: R0MUWSFPU8MPRO8K5P83 | Long             | DBT              | CORP              | FR        |   3824000 | PA      | $3879631.59   | 0.22%             | 2030-01-10      | Fixed         | 5.20%                 | No            |                  2 | On Loan: No      |
| CVS Health Corp                                                                      | CVS 4.3 03/25/28                                             | CUSIP: 126650CX6<br>LEI: 549300EJG376EN5NQE29 | Long             | DBT              | CORP              | US        |    702000 | PA      | $699658.56    | 0.04%             | 2028-03-25      | Fixed         | 4.30%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                                                | FN MA2320                                                    | CUSIP: 31418BSJ6<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   3436738 | PA      | $3267750.63   | 0.19%             | 2035-07-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                                                | FN BD9139                                                    | CUSIP: 3140FHEM5<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    397426 | PA      | $359210.04    | 0.02%             | 2046-11-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| CREDIT AGRICOLE SA                                                                   | ACAFP V4.818 09/25/33 144A                                   | CUSIP: 22535WAS6<br>LEI: 969500TJ5KRTCJQWXH05 | Long             | DBT              | CORP              | FR        |   1580000 | PA      | $1548469.00   | 0.09%             | 2033-09-25      | Fixed         | 4.82%                 | No            |                  2 | On Loan: No      |
| Verizon Communications Inc.                                                          | VZ 3.85 11/01/42                                             | CUSIP: 92343VBG8<br>LEI: 2S72QS2UO2OESLG6Y829 | Long             | DBT              | CORP              | US        |    416000 | PA      | $331893.56    | 0.02%             | 2042-11-01      | Fixed         | 3.85%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                                                | FN BR7745                                                    | CUSIP: 3140L6TB0<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   2026467 | PA      | $1666336.57   | 0.09%             | 2051-04-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| Abbott Laboratories                                                                  | ABT 5.5 03/15/56                                             | CUSIP: 002824BW9<br>LEI: HQD377W2YR662HK5JX27 | Long             | DBT              | CORP              | US        |    420000 | PA      | $412119.25    | 0.02%             | 2056-03-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Enterprise Products Operating LLC                                                    | EPD 4.8 02/01/49                                             | CUSIP: 29379VBU6<br>LEI: 5493004LGN656HWLDA30 | Long             | DBT              | CORP              | US        |   1320000 | PA      | $1150888.56   | 0.07%             | 2049-02-01      | Fixed         | 4.80%                 | No            |                  2 | On Loan: No      |
| FREDDIE MAC STACR REMIC TRUST 2021-DNA5                                              | STACR 2021-DNA5 B1                                           | CUSIP: 35564KJA8<br>LEI: 5493000ISU5NYXNHD479 | Long             | ABS-O            | USGSE             | US        |   1315000 | PA      | $1401843.65   | 0.08%             | 2034-01-25      | Floating      | 6.71%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                             | GNR 2022-63 LM                                               | CUSIP: 38383REY9<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-O            | USGA              | US        |  13286616 | PA      | $11170659.95  | 0.63%             | 2050-10-20      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| United States Treasury Notes                                                         | TII 1.875 07/15/34                                           | CUSIP: 91282CLE9<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  10365500 | PA      | $10420397.14  | 0.59%             | 2034-07-15      | Fixed         | 1.88%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                             | GN 589507                                                    | CUSIP: 36201P3Q6<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |     12696 | PA      | $13058.24     | 0.00%             | 2032-10-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corp.                                                     | FR QY5002                                                    | CUSIP: 31426PRY3<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   2494032 | PA      | $2580176.72   | 0.15%             | 2055-06-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| McDonald's Corp.                                                                     | MCD 4.2 04/01/50 MTN                                         | CUSIP: 58013MFR0<br>LEI: UE2136O97NLB5BYP9H04 | Long             | DBT              | CORP              | US        |   2880000 | PA      | $2271782.59   | 0.13%             | 2050-04-01      | Fixed         | 4.20%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                                                | FN FS5155                                                    | CUSIP: 3140XLWR5<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   4022758 | PA      | $4039187.17   | 0.23%             | 2053-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Home Depot Inc.                                                                      | HD 2.7 04/15/30                                              | CUSIP: 437076CB6<br>LEI: QEKMOTMBBKA8I816DO57 | Long             | DBT              | CORP              | US        |   1370000 | PA      | $1289300.70   | 0.07%             | 2030-04-15      | Fixed         | 2.70%                 | No            |                  2 | On Loan: No      |
| College Avenue Student Loans 2019-A LLC                                              | CASL 2019-A A1                                               | CUSIP: 19421UAA2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   3914453 | PA      | $3930279.04   | 0.22%             | 2048-12-28      | Floating      | 5.19%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                                                | FN BR8478                                                    | CUSIP: 3140L7M41<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    943556 | PA      | $777520.50    | 0.04%             | 2051-04-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| JPMorgan Chase & Co.                                                                 | JPM V2.522 04/22/31                                          | CUSIP: 46647PBL9<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | DBT              | CORP              | US        |   3510000 | PA      | $3244463.59   | 0.18%             | 2031-04-22      | Fixed         | 2.52%                 | No            |                  2 | On Loan: No      |
| DIVIDEND SOLAR LOANS 2019-1 LLC                                                      | DIV 2019-1 A                                                 | CUSIP: 255388AA8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   3864912 | PA      | $3602131.21   | 0.20%             | 2039-08-22      | Fixed         | 3.67%                 | No            |                  2 | On Loan: No      |
| Bank of America Corp.                                                                | BAC V2.592 04/29/31                                          | CUSIP: 06051GJB6<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |   4840000 | PA      | $4472620.24   | 0.25%             | 2031-04-29      | Fixed         | 2.59%                 | No            |                  2 | On Loan: No      |
| Bank of America Corp.                                                                | BAC V3.974 02/07/30 MTN                                      | CUSIP: 06051GHQ5<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |   3904000 | PA      | $3851162.01   | 0.22%             | 2030-02-07      | Fixed         | 3.97%                 | No            |                  2 | On Loan: No      |
| Peru (Republic Of)                                                                   | PERU 2.78 12/01/60                                           | CUSIP: 715638DQ2<br>LEI: 254900STKLK2DBJJZ530 | Long             | DBT              | NUSS              | PE        |     10000 | PA      | $5298.50      | 0.00%             | 2060-12-01      | Fixed         | 2.78%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                                                | FN DE9374                                                    | CUSIP: 3140BNMY1<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   4314933 | PA      | $4401897.38   | 0.25%             | 2055-09-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                             | GNR 2021-188 PA                                              | CUSIP: 38383CRU6<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-O            | USGA              | US        |   4155773 | PA      | $3453427.30   | 0.20%             | 2051-10-20      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                             | GN 590439                                                    | CUSIP: 36201Q4Y6<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |     10067 | PA      | $10167.33     | 0.00%             | 2032-09-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                             | GNR 2020-H13 FC                                              | CUSIP: 38380QGU0<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-O            | USGA              | US        |   1162957 | PA      | $1154720.72   | 0.07%             | 2070-07-20      | Variable      | 4.23%                 | No            |                  2 | On Loan: No      |
| Citigroup Inc.                                                                       | C 8.125 07/15/39                                             | CUSIP: 172967EW7<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |   1023000 | PA      | $1274930.90   | 0.07%             | 2039-07-15      | Fixed         | 8.12%                 | No            |                  2 | On Loan: No      |
| Glencore Funding LLC                                                                 | GLENLN 6.141 04/01/55 144a                                   | CUSIP: 378272CB2<br>LEI: 213800STG1QDNBY87K49 | Long             | DBT              | CORP              | US        |   1030000 | PA      | $1036930.76   | 0.06%             | 2055-04-01      | Fixed         | 6.14%                 | No            |                  2 | On Loan: No      |
| Eli Lilly & Co.                                                                      | LLY 4.7 02/09/34                                             | CUSIP: 532457CL0<br>LEI: FRDRIPF3EKNDJ2CQJL29 | Long             | DBT              | CORP              | US        |   1700000 | PA      | $1697824.20   | 0.10%             | 2034-02-09      | Fixed         | 4.70%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                                                | FNR 2011-59 NZ                                               | CUSIP: 31397UUU1<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-O            | USGSE             | US        |    296593 | PA      | $304427.12    | 0.02%             | 2041-07-25      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                                                | FN BR8518                                                    | CUSIP: 3140L7PC0<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   1639680 | PA      | $1347001.60   | 0.08%             | 2051-04-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                                                | FN FM9185                                                    | CUSIP: 3140XDF35<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |  13785438 | PA      | $12092452.79  | 0.68%             | 2041-10-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                                                | FN BE3114                                                    | CUSIP: 3140FNN83<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    296209 | PA      | $268111.26    | 0.02%             | 2046-11-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| United States Treasury Bonds                                                         | T 4.875 08/15/45                                             | CUSIP: 912810UN6<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   3710000 | PA      | $3698696.08   | 0.21%             | 2045-08-15      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corp.                                                     | FR SD1630                                                    | CUSIP: 3132DNY31<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    355224 | PA      | $355765.12    | 0.02%             | 2052-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Synopsys Inc                                                                         | SNPS 5 04/01/32                                              | CUSIP: 871607AD9<br>LEI: QG7T915N9S0NY5UKNE63 | Long             | DBT              | CORP              | US        |    660000 | PA      | $665948.82    | 0.04%             | 2032-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                                                | FN BC1509                                                    | CUSIP: 3140EVVB0<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   1457641 | PA      | $1317246.02   | 0.07%             | 2046-08-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                                                | FN FS7902                                                    | CUSIP: 3140XPX87<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    237937 | PA      | $246154.93    | 0.01%             | 2053-12-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Meta Platforms Inc                                                                   | META 4.875 11/15/35                                          | CUSIP: 30303MAD4<br>LEI: BQ4BKCS1HXDV9HN80Z93 | Long             | DBT              | CORP              | US        |    860000 | PA      | $844037.93    | 0.05%             | 2035-11-15      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| UBS Group AG                                                                         | UBS V3.091 05/14/32 144A                                     | CUSIP: 225401AU2<br>LEI: 549300SZJ9VS8SGXAN81 | Long             | DBT              | CORP              | CH        |   1210000 | PA      | $1110056.12   | 0.06%             | 2032-05-14      | Fixed         | 3.09%                 | No            |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corp.                                                     | FR RA9079                                                    | CUSIP: 3133KRCQ5<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   1668011 | PA      | $1759625.85   | 0.10%             | 2053-05-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| CVS Health Corp                                                                      | CVS 2.125 09/15/31                                           | CUSIP: 126650DR8<br>LEI: 549300EJG376EN5NQE29 | Long             | DBT              | CORP              | US        |   1660000 | PA      | $1439927.84   | 0.08%             | 2031-09-15      | Fixed         | 2.12%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                             | GN 563678                                                    | CUSIP: 36213TFT5<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |      2624 | PA      | $2705.33      | 0.00%             | 2032-11-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Occidental Petroleum Corp.                                                           | OXY 3.5 08/15/29                                             | CUSIP: 674599CS2<br>LEI: IM7X0T3ECJW4C1T7ON55 | Long             | DBT              | CORP              | US        |   2109000 | PA      | $2022699.72   | 0.11%             | 2029-08-15      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| COMM 2020-CX MORTGAGE TRUST                                                          | COMM 2020-CX A                                               | CUSIP: 12656KAA5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   4430000 | PA      | $3778468.38   | 0.21%             | 2046-11-10      | Fixed         | 2.17%                 | No            |                  2 | On Loan: No      |
| Bank of America Corp.                                                                | BAC V4.571 04/27/33                                          | CUSIP: 06051GKQ1<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |   1450000 | PA      | $1425273.96   | 0.08%             | 2033-04-27      | Fixed         | 4.57%                 | No            |                  2 | On Loan: No      |
| The Toronto-Dominion Bank                                                            | TD 4.456 06/08/32                                            | CUSIP: 89115A2E1<br>LEI: PT3QB789TSUIDF371261 | Long             | DBT              | CORP              | CA        |    470000 | PA      | $462326.35    | 0.03%             | 2032-06-08      | Fixed         | 4.46%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                             | GNR 2021-2 AH                                                | CUSIP: 38380RNG1<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-O            | USGA              | US        |    785066 | PA      | $583741.84    | 0.03%             | 2063-06-16      | Fixed         | 1.50%                 | No            |                  2 | On Loan: No      |
| Solventum Corp.                                                                      | SOLV 5.45 03/13/31                                           | CUSIP: 83444MAQ4<br>LEI: 254900I70403OSGY4M28 | Long             | DBT              | CORP              | US        |   1970000 | PA      | $2021684.33   | 0.11%             | 2031-03-13      | Fixed         | 5.45%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                             | GN 626480                                                    | CUSIP: 36291E6R7<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |      2042 | PA      | $2071.36      | 0.00%             | 2034-02-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| BCRED MML CLO 2021-1 LTD                                                             | BXCMM 2021-1A A                                              | CUSIP: 05554LAG7<br>LEI: 254900YNH73ABE60Y849 | Long             | ABS-CBDO         | CORP              | US        |   7360000 | PA      | $7363881.66   | 0.42%             | 2035-01-16      | Floating      | 5.41%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                             | GN 599762                                                    | CUSIP: 36200FJF6<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |     10317 | PA      | $10435.59     | 0.00%             | 2032-11-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| PNC Financial Services Group Inc.                                                    | PNC V5.582 06/12/29                                          | CUSIP: 693475BR5<br>LEI: CFGNEKW0P8842LEUIA51 | Long             | DBT              | CORP              | US        |   2090000 | PA      | $2142004.28   | 0.12%             | 2029-06-12      | Fixed         | 5.58%                 | No            |                  2 | On Loan: No      |
| Consolidated Edison Company of New York, Inc.                                        | ED 3.95 04/01/50 20B                                         | CUSIP: 209111FY4<br>LEI: VZFZPMWDHTQCFKYOBP05 | Long             | DBT              | CORP              | US        |   1210000 | PA      | $929198.36    | 0.05%             | 2050-04-01      | Fixed         | 3.95%                 | No            |                  2 | On Loan: No      |
| GOVERNMENT NATIONAL MORTGAGE ASSOCIATION I MORTGAGE-BACKED SECURITIES                | GN 552390                                                    | CUSIP: 36213EUP9<br>LEI: N/A                  | Long             | ABS-MBS          | USGA              | US        |      1088 | PA      | $1135.82      | 0.00%             | 2032-02-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| UnitedHealth Group Inc.                                                              | UNH 2.75 05/15/40                                            | CUSIP: 91324PDY5<br>LEI: 549300GHBMY8T5GXDE41 | Long             | DBT              | CORP              | US        |   1020000 | PA      | $742420.35    | 0.04%             | 2040-05-15      | Fixed         | 2.75%                 | No            |                  2 | On Loan: No      |
| Tsmc Arizona Corp.                                                                   | TAISEM 2.5 10/25/31                                          | CUSIP: 872898AC5<br>LEI: 2549005GOBWLCSY63Q97 | Long             | DBT              | CORP              | US        |  15180000 | PA      | $13783993.31  | 0.78%             | 2031-10-25      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                             | G2-30YR-Multi                                                | CUSIP: 21H040640<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    600000 | PA      | $562133.22    | 0.03%             | 2056-04-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| NAAC REPERFORMING LOAN REMIC TRUST 2004-R3                                           | NAA 2004-R3 A1                                               | CUSIP: 62951MAY6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     72191 | PA      | $62502.78     | 0.00%             | 2035-02-25      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Wells Fargo & Co.                                                                    | WFC V3.35 03/02/33 MTN                                       | CUSIP: 95000U2U6<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | DBT              | CORP              | US        |   2370000 | PA      | $2176758.61   | 0.12%             | 2033-03-02      | Fixed         | 3.35%                 | No            |                  2 | On Loan: No      |
| Devon Energy Corporation                                                             | DVN 5 06/15/45                                               | CUSIP: 25179MAU7<br>LEI: 54930042348RKR3ZPN35 | Long             | DBT              | CORP              | US        |    248000 | PA      | $217965.81    | 0.01%             | 2045-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                             | GN 592607                                                    | CUSIP: 36201TKU0<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |      2164 | PA      | $2194.56      | 0.00%             | 2033-03-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| EMPOWER CLO 2024-1 LTD                                                               | EMPWR 2024-1A A1                                             | CUSIP: 29244RAA3<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   3000000 | PA      | $3008925.60   | 0.17%             | 2037-04-27      | Floating      | 5.27%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                             | G2 BC5293                                                    | CUSIP: 3617B83A4<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   3326501 | PA      | $3091890.32   | 0.18%             | 2047-08-20      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Abbott Laboratories                                                                  | ABT 4.3 03/15/33                                             | CUSIP: 002824BT6<br>LEI: HQD377W2YR662HK5JX27 | Long             | DBT              | CORP              | US        |   1180000 | PA      | $1155157.25   | 0.07%             | 2033-03-15      | Fixed         | 4.30%                 | No            |                  2 | On Loan: No      |
| Oracle Corp.                                                                         | ORCL 5.875 09/26/45                                          | CUSIP: 68389XDP7<br>LEI: 1Z4GXXU7ZHVWFCD8TV52 | Long             | DBT              | CORP              | US        |    810000 | PA      | $699339.45    | 0.04%             | 2045-09-26      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| AT&T Inc                                                                             | T 2.25 02/01/32                                              | CUSIP: 00206RKH4<br>LEI: 549300Z40J86GGSTL398 | Long             | DBT              | CORP              | US        |   2390000 | PA      | $2088744.28   | 0.12%             | 2032-02-01      | Fixed         | 2.25%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                                                | FN BE0351                                                    | CUSIP: 3140FKL99<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    179821 | PA      | $162767.53    | 0.01%             | 2046-11-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                                                | FN AL4807                                                    | CUSIP: 3138EMKV2<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    368216 | PA      | $372332.61    | 0.02%             | 2041-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Petroleos del Peru - Petroperu SA                                                    | PETRPE 4.75 06/19/32 144A                                    | CUSIP: 716564AA7<br>LEI: 549300ZMGDLC9JT2OR80 | Long             | DBT              | CORP              | PE        |   5477000 | PA      | $4346903.21   | 0.25%             | 2032-06-19      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                             | GN 632178                                                    | CUSIP: 36291MJX2<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |       145 | PA      | $149.71       | 0.00%             | 2034-09-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Citigroup Commercial Mortgage Trust 2017-P7                                          | CGCMT 2017-P7 B                                              | CUSIP: 17325HBS2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   2624000 | PA      | $2478324.97   | 0.14%             | 2050-04-15      | Variable      | 4.14%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                             | G2 BM9734                                                    | CUSIP: 3617K1Y72<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    510077 | PA      | $482837.91    | 0.03%             | 2049-10-20      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Royal Caribbean Cruises Ltd.                                                         | RCL 4.75 05/15/33                                            | CUSIP: 78017TAC7<br>LEI: K2NEH8QNVW44JIWK7Z55 | Long             | DBT              | CORP              | LR        |    770000 | PA      | $743702.77    | 0.04%             | 2033-05-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                             | GNR 2017-111 IO                                              | CUSIP: 38379RV34<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-O            | USGA              | US        |   3762883 | PA      | $109712.13    | 0.01%             | 2059-02-16      | Variable      | 0.53%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                                                | FN FS5313                                                    | CUSIP: 3140XL3X4<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   6266274 | PA      | $5846877.03   | 0.33%             | 2050-01-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corp.                                                     | FR RA9081                                                    | CUSIP: 3133KRCS1<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    390135 | PA      | $409952.56    | 0.02%             | 2053-05-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                                                | FN AS7844                                                    | CUSIP: 3138WHWE8<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   1706782 | PA      | $1539491.86   | 0.09%             | 2046-09-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Union Pacific Corporation                                                            | UNP 3.75 02/05/70                                            | CUSIP: 907818FL7<br>LEI: 549300LMMRSZZCZ8CL11 | Long             | DBT              | CORP              | US        |   2030000 | PA      | $1355665.95   | 0.08%             | 2070-02-05      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| The Cigna Group                                                                      | CI 4.375 10/15/28                                            | CUSIP: 125523AH3<br>LEI: 549300VIWYMSIGT1U456 | Long             | DBT              | CORP              | US        |   2382000 | PA      | $2380495.79   | 0.13%             | 2028-10-15      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| Occidental Petroleum Corp.                                                           | OXY 6.2 03/15/40                                             | CUSIP: 674599DJ1<br>LEI: IM7X0T3ECJW4C1T7ON55 | Long             | DBT              | CORP              | US        |    576000 | PA      | $588705.98    | 0.03%             | 2040-03-15      | Fixed         | 6.20%                 | No            |                  2 | On Loan: No      |
| GOVERNMENT NATIONAL MORTGAGE ASSOCIATION II MORTGAGE-BACKED SECURITIES               | GN 564819                                                    | CUSIP: 36213UPC8<br>LEI: N/A                  | Long             | ABS-MBS          | USGA              | US        |      6537 | PA      | $6733.76      | 0.00%             | 2031-09-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| B.A.T. Capital Corporation                                                           | BATSLN 3.557 08/15/27                                        | CUSIP: 05526DBB0<br>LEI: 2138005GYEXN7XRHFA84 | Long             | DBT              | CORP              | US        |    325000 | PA      | $321538.70    | 0.02%             | 2027-08-15      | Fixed         | 3.56%                 | No            |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corp.                                                     | FR SL3013                                                    | CUSIP: 31427QK35<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   1287301 | PA      | $1340220.43   | 0.08%             | 2055-08-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Elevance Health Inc.                                                                 | ELV 4.1 05/15/32                                             | CUSIP: 036752AT0<br>LEI: 8MYN82XMYQH89CTMTH67 | Long             | DBT              | CORP              | US        |   1380000 | PA      | $1325559.28   | 0.08%             | 2032-05-15      | Fixed         | 4.10%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                             | GN 562491                                                    | CUSIP: 36213R2Y2<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |      2101 | PA      | $2121.39      | 0.00%             | 2034-02-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corp.                                                     | FHMS K-1511 X1                                               | CUSIP: 3137FLYL2<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-O            | USGSE             | US        |   3466726 | PA      | $149691.49    | 0.01%             | 2034-03-25      | Variable      | 0.77%                 | No            |                  2 | On Loan: No      |
| SACO I INC                                                                           | PRIME 2006-DR1 2A2                                           | CUSIP: 74159UAD9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   7512069 | PA      | $6378416.45   | 0.36%             | 2035-05-25      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| JPMORGAN CHASE FINANCIAL COMPANY LLC                                                 | FR SD2756                                                    | CUSIP: 3132DQBZ8<br>LEI: 549300NJFDJOFYVV6789 | Long             | ABS-MBS          | USGSE             | US        |   3924074 | PA      | $3992299.22   | 0.23%             | 2053-05-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| B.A.T. Capital Corporation                                                           | BATSLN 2.259 03/25/28                                        | CUSIP: 05526DBR5<br>LEI: 2138005GYEXN7XRHFA84 | Long             | DBT              | CORP              | US        |   1730000 | PA      | $1661136.99   | 0.09%             | 2028-03-25      | Fixed         | 2.26%                 | No            |                  2 | On Loan: No      |
| Wells Fargo & Co.                                                                    | WFC 3 10/23/26                                               | CUSIP: 949746SH5<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | DBT              | CORP              | US        |   2144000 | PA      | $2129539.47   | 0.12%             | 2026-10-23      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corp.                                                     | FR QC2044                                                    | CUSIP: 3133ALHV3<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   1073155 | PA      | $932927.39    | 0.05%             | 2051-05-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| SOHO TRUST 2021-SOHO                                                                 | SOHO 2021-SOHO A                                             | CUSIP: 83410JAA6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   6000000 | PA      | $4976054.40   | 0.28%             | 2038-08-12      | Variable      | 2.70%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                                                | FN FS0410                                                    | CUSIP: 3140XFN49<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    245999 | PA      | $225219.07    | 0.01%             | 2047-02-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| FEDERAL NATIONAL MORTGAGE ASSOCIATION                                                | FNR 2021-8 DI                                                | CUSIP: 3136BFGH0<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-O            | USGSE             | US        |   1813090 | PA      | $402915.04    | 0.02%             | 2051-03-25      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| BOARD OF TRADE OF THE CITY OF CHICAGO, INC.                                          | 10-Year T-Note Futures, Jun-2026,ETH                         | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DIR              | CORP              | US        |       318 | NC      | $-110939.88   | -0.01%            |  |  |  | No            |                  1 | On Loan: No      |
| Federal National Mortgage Association                                                | FN AI1892                                                    | CUSIP: 3138AFC65<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     45679 | PA      | $46190.66     | 0.00%             | 2041-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NTT Finance Corp                                                                     | NTT 5.171 07/16/32 144A                                      | CUSIP: 62954WAU9<br>LEI: 3538007PR116187GD960 | Long             | DBT              | CORP              | JP        |   3230000 | PA      | $3254544.32   | 0.18%             | 2032-07-16      | Fixed         | 5.17%                 | No            |                  2 | On Loan: No      |
| SUNOCO LP                                                                            | ET 5.4 10/01/47                                              | CUSIP: 86765BAV1<br>LEI: 54930001NJU8E40NQ561 | Long             | DBT              | CORP              | US        |    671000 | PA      | $596873.24    | 0.03%             | 2047-10-01      | Fixed         | 5.40%                 | No            |                  2 | On Loan: No      |
| FEDERAL NATIONAL MORTGAGE ASSOCIATION                                                | FHMR 2020-RR02 BX                                            | CUSIP: 3137FQXW8<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-O            | USGSE             | US        |  10000000 | PA      | $326605.00    | 0.02%             | 2028-08-27      | Variable      | 1.67%                 | No            |                  2 | On Loan: No      |
| UBS Group AG                                                                         | UBS V4.194 04/01/31 144A                                     | CUSIP: 225401AP3<br>LEI: 549300SZJ9VS8SGXAN81 | Long             | DBT              | CORP              | CH        |   3166000 | PA      | $3098466.59   | 0.18%             | 2031-04-01      | Fixed         | 4.19%                 | No            |                  2 | On Loan: No      |
| Fedex Freight Holding Co. Inc.                                                       | FDX 4.65 03/15/31 144A                                       | CUSIP: 314352AC9<br>LEI: 984500Y1DA5A58ICE336 | Long             | DBT              | CORP              | US        |    790000 | PA      | $776814.73    | 0.04%             | 2031-03-15      | Fixed         | 4.65%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                             | GN 490494                                                    | CUSIP: 36210E3B3<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |      2164 | PA      | $2222.49      | 0.00%             | 2028-12-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                             | GN 781530                                                    | CUSIP: 36225BVX3<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |      2914 | PA      | $3007.84      | 0.00%             | 2032-12-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| GOVERNMENT NATIONAL MORTGAGE ASSOCIATION II MORTGAGE-BACKED SECURITIES               | GN 587661                                                    | CUSIP: 36201MZ21<br>LEI: N/A                  | Long             | ABS-MBS          | USGA              | US        |      4349 | PA      | $4477.26      | 0.00%             | 2032-05-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                             | GNR 2024-151 KS                                              | CUSIP: 38384WFF7<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-O            | USGA              | US        |   1645474 | PA      | $135458.05    | 0.01%             | 2054-09-20      | Floating      | 2.38%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                                                | FN AI4261                                                    | CUSIP: 3138AHWX0<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |      6070 | PA      | $6135.91      | 0.00%             | 2041-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| OAKTREE CLO 2024-25 LTD                                                              | OAKCL 2024-25A A                                             | CUSIP: 67402PAA5<br>LEI: 254900NTZ5OVNC5X7789 | Long             | ABS-CBDO         | CORP              | KY        |   4710000 | PA      | $4722077.38   | 0.27%             | 2037-04-20      | Floating      | 5.22%                 | No            |                  2 | On Loan: No      |
| Goldman Sachs Group, Inc.                                                            | GS V2.65 10/21/32                                            | CUSIP: 38141GYN8<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | DBT              | CORP              | US        |   4000000 | PA      | $3552350.32   | 0.20%             | 2032-10-21      | Fixed         | 2.65%                 | No            |                  2 | On Loan: No      |
| Charter Communications Operating, LLC/Charter Communications Operating Capital Corp. | CHTR 6.55 06/01/34                                           | CUSIP: 161175CR3<br>LEI: 549300TPZNMN50BJ3745 | Long             | DBT              | CORP              | US        |    800000 | PA      | $830998.67    | 0.05%             | 2034-06-01      | Fixed         | 6.55%                 | No            |                  2 | On Loan: No      |
| JPMorgan Chase & Co.                                                                 | JPM V2.58 04/22/32                                           | CUSIP: 46647PCC8<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | DBT              | CORP              | US        |   1520000 | PA      | $1374106.40   | 0.08%             | 2032-04-22      | Fixed         | 2.58%                 | No            |                  2 | On Loan: No      |
| Freddie Mac Stacr Remic Trust                                                        | STACR 2026-DNA1 M2                                           | CUSIP: 35564UCS4<br>LEI: N/A                  | Long             | ABS-O            | USGSE             | US        |   3680000 | PA      | $3690354.78   | 0.21%             | 2046-02-25      | Floating      | 4.96%                 | No            |                  2 | On Loan: No      |
| Charter Communications Operating, LLC/Charter Communications Operating Capital Corp. | CHTR 6.484 10/23/45                                          | CUSIP: 161175BA1<br>LEI: 549300TPZNMN50BJ3745 | Long             | DBT              | CORP              | US        |    614000 | PA      | $566627.95    | 0.03%             | 2045-10-23      | Fixed         | 6.48%                 | No            |                  2 | On Loan: No      |
| Citigroup Inc.                                                                       | C V3.98 03/20/30                                             | CUSIP: 172967ME8<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |   2488000 | PA      | $2448449.01   | 0.14%             | 2030-03-20      | Fixed         | 3.98%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                             | GNR 2014-17 AM                                               | CUSIP: 38378NWU3<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-O            | USGA              | US        |     62796 | PA      | $60722.16     | 0.00%             | 2048-06-16      | Variable      | 3.53%                 | No            |                  2 | On Loan: No      |
| Continental Resources, Inc.                                                          | CLR 4.375 01/15/28                                           | CUSIP: 212015AS0<br>LEI: XXRTID9RYWOZ0UPIVR53 | Long             | DBT              | CORP              | US        |   1105000 | PA      | $1097893.04   | 0.06%             | 2028-01-15      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| PLYM COMMERCIAL MORTGAGE TRUST 2026-IND                                              | PLYM 2026-IND A                                              | CUSIP: 69292BAA5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   4860000 | PA      | $4842884.05   | 0.27%             | 2043-03-16      | Floating      | 4.92%                 | No            |                  2 | On Loan: No      |
| Comcast Corporation                                                                  | CMCSA 4.25 10/15/30                                          | CUSIP: 20030NCU3<br>LEI: 51M0QTTNCGUN7KFCFZ59 | Long             | DBT              | CORP              | US        |   4017000 | PA      | $3975122.69   | 0.23%             | 2030-10-15      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| Oracle Corp.                                                                         | ORCL 5.2 09/26/35                                            | CUSIP: 68389XDM4<br>LEI: 1Z4GXXU7ZHVWFCD8TV52 | Long             | DBT              | CORP              | US        |    320000 | PA      | $300319.76    | 0.02%             | 2035-09-26      | Fixed         | 5.20%                 | No            |                  2 | On Loan: No      |
| Goldman Sachs Group, Inc.                                                            | GS 4.75 10/21/45                                             | CUSIP: 38141GVS0<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | DBT              | CORP              | US        |   1236000 | PA      | $1071565.24   | 0.06%             | 2045-10-21      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| Altria Group, Inc.                                                                   | MO 4.8 02/14/29                                              | CUSIP: 02209SBD4<br>LEI: XSGZFLO9YTNO9VCQV219 | Long             | DBT              | CORP              | US        |   1309000 | PA      | $1319930.80   | 0.07%             | 2029-02-14      | Fixed         | 4.80%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                             | GN AB2892                                                    | CUSIP: 36178NF95<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   2026721 | PA      | $1855428.30   | 0.11%             | 2042-09-15      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                                                | FN AL9397                                                    | CUSIP: 3138ERNP1<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   2129496 | PA      | $1920200.84   | 0.11%             | 2046-10-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                             | GN 644963                                                    | CUSIP: 36292CQQ0<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |     10372 | PA      | $10690.36     | 0.00%             | 2035-06-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Fremf 2019-K103 Mortgage Trust                                                       | FREMF 2019-K103 X2A                                          | CUSIP: 30315DAN8<br>LEI: N/A                  | Long             | ABS-O            | USGSE             | US        | 337392920 | PA      | $980936.17    | 0.06%             | 2051-12-25      | Fixed         | 0.10%                 | No            |                  2 | On Loan: No      |
| AIMCO CLO 22 LTD                                                                     | AIMCO 2024-22A A                                             | CUSIP: 00901UAA1<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | JE        |   5145000 | PA      | $5158287.99   | 0.29%             | 2037-04-20      | Floating      | 5.17%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                                                | FN FS5306                                                    | CUSIP: 3140XL3Q9<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   4724407 | PA      | $4867542.96   | 0.28%             | 2053-07-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| UnitedHealth Group Inc.                                                              | UNH 3.125 05/15/60                                           | CUSIP: 91324PEA6<br>LEI: 549300GHBMY8T5GXDE41 | Long             | DBT              | CORP              | US        |     10000 | PA      | $5955.75      | 0.00%             | 2060-05-15      | Fixed         | 3.12%                 | No            |                  2 | On Loan: No      |
| Alphabet Inc.                                                                        | GOOGL 3.7 02/15/29                                           | CUSIP: 02079KBJ5<br>LEI: 5493006MHB84DD0ZWV18 | Long             | DBT              | CORP              | US        |    890000 | PA      | $882536.59    | 0.05%             | 2029-02-15      | Fixed         | 3.70%                 | No            |                  2 | On Loan: No      |
| Enterprise Products Operating LLC                                                    | EPD 4.15 10/16/28                                            | CUSIP: 29379VBT9<br>LEI: 5493004LGN656HWLDA30 | Long             | DBT              | CORP              | US        |   1706000 | PA      | $1702934.39   | 0.10%             | 2028-10-16      | Fixed         | 4.15%                 | No            |                  2 | On Loan: No      |
| CLEVELAND ELECTRIC ILLUMINATING CO                                                   | FE 3.5 04/01/28 144A                                         | CUSIP: 186108CK0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    405000 | PA      | $396841.06    | 0.02%             | 2028-04-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Amrize Finance US LLC                                                                | AMRZ 5.4 04/07/35                                            | CUSIP: 43475RAT3<br>LEI: 529900FB2F1WKLFNGY62 | Long             | DBT              | CORP              | US        |    650000 | PA      | $661246.09    | 0.04%             | 2035-04-07      | Fixed         | 5.40%                 | No            |                  2 | On Loan: No      |
| GOVERNMENT NATIONAL MORTGAGE ASSOCIATION II MORTGAGE-BACKED SECURITIES               | GN 577732                                                    | CUSIP: 36201AY51<br>LEI: N/A                  | Long             | ABS-MBS          | USGA              | US        |      1422 | PA      | $1435.03      | 0.00%             | 2032-10-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| GOVERNMENT NATIONAL MORTGAGE ASSOCIATION II MORTGAGE-BACKED SECURITIES               | GN 781330                                                    | CUSIP: 36225BPP7<br>LEI: N/A                  | Long             | ABS-MBS          | USGA              | US        |       664 | PA      | $675.61       | 0.00%             | 2031-09-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                                                | FN AI2443                                                    | CUSIP: 3138AFWD8<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |      5260 | PA      | $5319.24      | 0.00%             | 2041-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| GOVERNMENT NATIONAL MORTGAGE ASSOCIATION II MORTGAGE-BACKED SECURITIES               | GN 595077                                                    | CUSIP: 36200ACN7<br>LEI: N/A                  | Long             | ABS-MBS          | USGA              | US        |      3495 | PA      | $3578.73      | 0.00%             | 2032-10-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                             | GN 783704                                                    | CUSIP: 3622A2DH2<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |     21408 | PA      | $22184.27     | 0.00%             | 2036-06-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                                                | FN FM1727                                                    | CUSIP: 3140X44M5<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   8595211 | PA      | $8640311.25   | 0.49%             | 2049-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Philip Morris International Inc.                                                     | PM 4.5 03/20/42                                              | CUSIP: 718172AP4<br>LEI: HL3H1H2BGXWVG3BSWR90 | Long             | DBT              | CORP              | US        |    296000 | PA      | $258971.73    | 0.01%             | 2042-03-20      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Fox Corporation                                                                      | FOXA 5.476 01/25/39                                          | CUSIP: 35137LAJ4<br>LEI: 549300DDU6FDRBIELS05 | Long             | DBT              | CORP              | US        |   1170000 | PA      | $1132369.07   | 0.06%             | 2039-01-25      | Fixed         | 5.48%                 | No            |                  2 | On Loan: No      |
| NEUBERGER BERMAN LOAN ADVISERS CLO                                                   | NEUB 2022-51A AR2                                            | CUSIP: 64135BAW9<br>LEI: 549300E2R8NH2QE50368 | Long             | ABS-CBDO         | CORP              | JE        |   3035000 | PA      | $3035380.29   | 0.17%             | 2036-10-23      | Floating      | 4.67%                 | No            |                  2 | On Loan: No      |
| UnitedHealth Group Inc.                                                              | UNH 2 05/15/30                                               | CUSIP: 91324PDX7<br>LEI: 549300GHBMY8T5GXDE41 | Long             | DBT              | CORP              | US        |   1070000 | PA      | $968987.28    | 0.05%             | 2030-05-15      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| RTX Corp.                                                                            | RTX 4.125 11/16/28                                           | CUSIP: 913017CY3<br>LEI: I07WOS4YJ0N7YRFE7309 | Long             | DBT              | CORP              | US        |    750000 | PA      | $747024.40    | 0.04%             | 2028-11-16      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| FEDERAL HOME LOAN MORTGAGE CORP                                                      | FHR 5168 CI                                                  | CUSIP: 3137H4BA7<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-O            | USGSE             | US        |  10682064 | PA      | $2100736.80   | 0.12%             | 2051-11-25      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| JPMorgan Chase & Co.                                                                 | JPM V2.545 11/08/32                                          | CUSIP: 46647PCR5<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | DBT              | CORP              | US        |   2460000 | PA      | $2187653.79   | 0.12%             | 2032-11-08      | Fixed         | 2.54%                 | No            |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corp.                                                     | FHMS K121 X1                                                 | CUSIP: 3137F83S0<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-O            | USGSE             | US        |   1442970 | PA      | $53319.35     | 0.00%             | 2030-10-25      | Variable      | 1.01%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                             | G2-30YR-Multi                                                | CUSIP: 21H030641<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   3200000 | PA      | $2857299.23   | 0.16%             | 2056-04-15      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                                                | FN 992262                                                    | CUSIP: 31415XJF9<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |      2098 | PA      | $2121.33      | 0.00%             | 2039-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Morgan Stanley                                                                       | MS V4.493 01/16/32                                           | CUSIP: 61748UAS1<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |   1490000 | PA      | $1465377.87   | 0.08%             | 2032-01-16      | Fixed         | 4.49%                 | No            |                  2 | On Loan: No      |
| United States Treasury Bonds                                                         | T 4.5 08/15/39                                               | CUSIP: 912810QC5<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        | 120000000 | PA      | $118912500.00 | 6.73%             | 2039-08-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                             | GNR 2017-171 IO                                              | CUSIP: 38380JGF9<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-O            | USGA              | US        |   8325759 | PA      | $286366.99    | 0.02%             | 2059-09-16      | Variable      | 0.62%                 | No            |                  2 | On Loan: No      |
| Morgan Stanley Private Bank National Association                                     | MS V4.734 07/18/31                                           | CUSIP: 61776NVG5<br>LEI: 549300GS0W0TEUQS8571 | Long             | DBT              | CORP              | US        |   1380000 | PA      | $1375990.19   | 0.08%             | 2031-07-18      | Fixed         | 4.73%                 | No            |                  2 | On Loan: No      |
| Micron Technology Inc.                                                               | MU 6.05 11/01/35                                             | CUSIP: 595112CH4<br>LEI: B3DXGBC8GAIYWI2Z0172 | Long             | DBT              | CORP              | US        |    400000 | PA      | $431792.08    | 0.02%             | 2035-11-01      | Fixed         | 6.05%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                             | GNR 2016-84 IG                                               | CUSIP: 38379XGR5<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-O            | USGA              | US        |   4960470 | PA      | $948334.30    | 0.05%             | 2045-11-16      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corp.                                                     | FR SC0160                                                    | CUSIP: 3132D9E91<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   8512148 | PA      | $7451151.08   | 0.42%             | 2041-07-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                             | GN 592251                                                    | CUSIP: 36201S5L9<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |      3547 | PA      | $3606.81      | 0.00%             | 2033-01-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                                                | FN CB5156                                                    | CUSIP: 3140QQWS0<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    935706 | PA      | $984847.28    | 0.06%             | 2052-11-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Lockheed Martin Corporation                                                          | LMT 5.2 02/15/64                                             | CUSIP: 539830CE7<br>LEI: DPRBOZP0K5RM2YE8UU08 | Long             | DBT              | CORP              | US        |   1022000 | PA      | $928683.35    | 0.05%             | 2064-02-15      | Fixed         | 5.20%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                             | GN 781650                                                    | CUSIP: 36225BZP6<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |       542 | PA      | $564.10       | 0.00%             | 2033-08-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                             | G2-30YR-Multi                                                | CUSIP: 21H050649<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   6800000 | PA      | $6735649.70   | 0.38%             | 2056-04-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| QUALCOMM Inc.                                                                        | QCOM 5 05/20/35                                              | CUSIP: 747525BW2<br>LEI: H1J8DDZKZP6H7RWC0H53 | Long             | DBT              | CORP              | US        |   1250000 | PA      | $1248616.08   | 0.07%             | 2035-05-20      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| 522 FDG CLO LTD 2019-5R                                                              | MORGN 2019-5A AR2                                            | CUSIP: 33829WAL3<br>LEI: 549300HKB0UTKU91DG08 | Long             | ABS-CBDO         | CORP              | KY        |   2750000 | PA      | $2750731.50   | 0.16%             | 2035-04-15      | Floating      | 4.68%                 | No            |                  2 | On Loan: No      |
| Alphabet Inc.                                                                        | GOOGL 5.65 02/15/56                                          | CUSIP: 02079KBP1<br>LEI: 5493006MHB84DD0ZWV18 | Long             | DBT              | CORP              | US        |    970000 | PA      | $967573.00    | 0.05%             | 2056-02-15      | Fixed         | 5.65%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                                                | FN FM7796                                                    | CUSIP: 3140XBUW8<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    983792 | PA      | $944776.99    | 0.05%             | 2048-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Devon Energy Corporation                                                             | DVN 5.25 10/15/27                                            | CUSIP: 25179MBD4<br>LEI: 54930042348RKR3ZPN35 | Long             | DBT              | CORP              | US        |    196000 | PA      | $196077.57    | 0.01%             | 2027-10-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                                                | FN BF0141                                                    | CUSIP: 3140FXEP3<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    869868 | PA      | $892693.11    | 0.05%             | 2056-09-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| BX COMMERCIAL MORTGAGE TRUST 2025-COPT                                               | BX 2025-COPT A                                               | CUSIP: 05618XAA8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   4610000 | PA      | $4619206.17   | 0.26%             | 2042-08-15      | Floating      | 5.42%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                             | GN 629113                                                    | CUSIP: 36291H3W2<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |      4905 | PA      | $5075.65      | 0.00%             | 2034-09-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Synopsys Inc                                                                         | SNPS 5.15 04/01/35                                           | CUSIP: 871607AE7<br>LEI: QG7T915N9S0NY5UKNE63 | Long             | DBT              | CORP              | US        |    560000 | PA      | $561270.92    | 0.03%             | 2035-04-01      | Fixed         | 5.15%                 | No            |                  2 | On Loan: No      |
| Meta Platforms Inc                                                                   | META 5.75 11/15/65                                           | CUSIP: 30303M8Y1<br>LEI: BQ4BKCS1HXDV9HN80Z93 | Long             | DBT              | CORP              | US        |   1880000 | PA      | $1747522.19   | 0.10%             | 2065-11-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Devon Energy Corporation                                                             | DVN 5.6 07/15/41                                             | CUSIP: 25179MAL7<br>LEI: 54930042348RKR3ZPN35 | Long             | DBT              | CORP              | US        |    810000 | PA      | $784396.44    | 0.04%             | 2041-07-15      | Fixed         | 5.60%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                                                | FN BQ0254                                                    | CUSIP: 3140KKH80<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   1630703 | PA      | $1343218.09   | 0.08%             | 2050-08-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| Oncor Electric Delivery Company LLC                                                  | ONCRTX 5.35 04/01/35                                         | CUSIP: 68233JDC5<br>LEI: 549300SP2X2BS1KERD24 | Long             | DBT              | CORP              | US        |    630000 | PA      | $644084.90    | 0.04%             | 2035-04-01      | Fixed         | 5.35%                 | No            |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corp.                                                     | FR SD2138                                                    | CUSIP: 3132DPLT3<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   1600049 | PA      | $1632604.58   | 0.09%             | 2053-01-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                             | G2-30YR-Multi                                                | CUSIP: 21H022648<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   9200000 | PA      | $7916312.50   | 0.45%             | 2056-04-15      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| SPECTRUM MANAGEMENT HOLDING COMPANY LLC                                              | CHTR 6.75 06/15/39                                           | CUSIP: 88732JAU2<br>LEI: B1WXCWLJVJXMWJX6O298 | Long             | DBT              | CORP              | US        |    985000 | PA      | $978192.91    | 0.06%             | 2039-06-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| Bank of America Corp.                                                                | BAC V4.33 03/15/50 MTN                                       | CUSIP: 06051GHS1<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |   1560000 | PA      | $1265671.43   | 0.07%             | 2050-03-15      | Fixed         | 4.33%                 | No            |                  2 | On Loan: No      |
| Verizon Communications Inc.                                                          | VZ 5.25 03/16/37                                             | CUSIP: 92343VDU5<br>LEI: 2S72QS2UO2OESLG6Y829 | Long             | DBT              | CORP              | US        |   1767000 | PA      | $1746648.88   | 0.10%             | 2037-03-16      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Occidental Petroleum Corp.                                                           | OXY 3.2 08/15/26                                             | CUSIP: 674599CR4<br>LEI: IM7X0T3ECJW4C1T7ON55 | Long             | DBT              | CORP              | US        |   1830000 | PA      | $1821519.60   | 0.10%             | 2026-08-15      | Fixed         | 3.20%                 | No            |                  2 | On Loan: No      |
| General Motors Company                                                               | GM 5.6 10/15/32                                              | CUSIP: 37045VAZ3<br>LEI: 54930070NSV60J38I987 | Long             | DBT              | CORP              | US        |    790000 | PA      | $809161.43    | 0.05%             | 2032-10-15      | Fixed         | 5.60%                 | No            |                  2 | On Loan: No      |
| JSC National Company KazMunayGas                                                     | KZOKZ 5.75 04/19/47 144A                                     | CUSIP: 48667QAP0<br>LEI: 2138001H1M69RFJCSH88 | Long             | DBT              | CORP              | KZ        |  11173000 | PA      | $10414366.71  | 0.59%             | 2047-04-19      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Solventum Corp.                                                                      | SOLV 5.9 04/30/54                                            | CUSIP: 83444MAS0<br>LEI: 254900I70403OSGY4M28 | Long             | DBT              | CORP              | US        |   1442000 | PA      | $1409940.37   | 0.08%             | 2054-04-30      | Fixed         | 5.90%                 | No            |                  2 | On Loan: No      |
| T-Mobile USA, Inc.                                                                   | TMUS 3.75 04/15/27                                           | CUSIP: 87264ABD6<br>LEI: 549300V2JRLO5DIFGE82 | Long             | DBT              | CORP              | US        |   1330000 | PA      | $1322018.60   | 0.07%             | 2027-04-15      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                                                | FN BF0109                                                    | CUSIP: 3140FXDP4<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   8109071 | PA      | $7697924.30   | 0.44%             | 2056-02-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| AbbVie Inc.                                                                          | ABBV 4.875 11/14/48                                          | CUSIP: 00287YBD0<br>LEI: FR5LCKFTG8054YNNRU85 | Long             | DBT              | CORP              | US        |    620000 | PA      | $556321.18    | 0.03%             | 2048-11-14      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| Jack in the Box Inc.                                                                 | JACK 2022-1A A2I                                             | CUSIP: 466365AD5<br>LEI: 5493002OJW26P0SUUP68 | Long             | ABS-O            | CORP              | US        |   6651600 | PA      | $6462002.79   | 0.37%             | 2052-02-25      | Fixed         | 3.44%                 | No            |                  2 | On Loan: No      |
| BAYVIEW COMMERCIAL ASSET TRUST                                                       | BVCLN 2024-EDU1 A                                            | CUSIP: 07336PAA2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   4420558 | PA      | $4451191.18   | 0.25%             | 2047-06-25      | Floating      | 5.15%                 | No            |                  2 | On Loan: No      |
| Poland (Republic of)                                                                 | POLAND 5.125 09/18/34 10Y                                    | CUSIP: 731011AY8<br>LEI: 259400R9L8QEP0TPXS31 | Long             | DBT              | NUSS              | PL        |   3440000 | PA      | $3461721.91   | 0.20%             | 2034-09-18      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| Foundry JV Holdco LLC.                                                               | FABSJV 5.875 01/25/34                                        | CUSIP: 350930AA1<br>LEI: 21380048QROAMGM6EP30 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $1013417.98   | 0.06%             | 2034-01-25      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                             | GN 781685                                                    | CUSIP: 36225B2S6<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |      2259 | PA      | $2333.97      | 0.00%             | 2033-11-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Charter Communications Operating, LLC/Charter Communications Operating Capital Corp. | CHTR 5.05 03/30/29                                           | CUSIP: 161175BR4<br>LEI: 549300TPZNMN50BJ3745 | Long             | DBT              | CORP              | US        |   3097000 | PA      | $3113288.05   | 0.18%             | 2029-03-30      | Fixed         | 5.05%                 | No            |                  2 | On Loan: No      |
| Altria Group, Inc.                                                                   | MO 5.8 02/14/39                                              | CUSIP: 02209SBE2<br>LEI: XSGZFLO9YTNO9VCQV219 | Long             | DBT              | CORP              | US        |    505000 | PA      | $507243.04    | 0.03%             | 2039-02-14      | Fixed         | 5.80%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                             | GN 586899                                                    | CUSIP: 36201L7L2<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |     35941 | PA      | $36440.84     | 0.00%             | 2032-08-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Apidos Clo Xxxv Ltd / Llc                                                            | APID 2021-35A A                                              | CUSIP: 03768UAA7<br>LEI: 549300KJKTO0Q1OATW69 | Long             | ABS-CBDO         | CORP              | KY        |   4300000 | PA      | $4304877.06   | 0.24%             | 2034-04-20      | Floating      | 4.98%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                             | GN 781798                                                    | CUSIP: 36225B7K8<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |     23865 | PA      | $24866.36     | 0.00%             | 2034-07-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Alphabet Inc.                                                                        | GOOGL 5.3 05/15/65                                           | CUSIP: 02079KAN7<br>LEI: 5493006MHB84DD0ZWV18 | Long             | DBT              | CORP              | US        |    720000 | PA      | $667011.84    | 0.04%             | 2065-05-15      | Fixed         | 5.30%                 | No            |                  2 | On Loan: No      |
| AMMC CLO 32 LTD                                                                      | AMMC 2025-32A A1                                             | CUSIP: 03166KAA7<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   5010000 | PA      | $5022399.25   | 0.28%             | 2038-10-18      | Floating      | 5.03%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                                                | FN 836456                                                    | CUSIP: 31407PH92<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |       852 | PA      | $876.47       | 0.00%             | 2035-10-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Goldman Sachs Group, Inc.                                                            | GS V4.223 05/01/29                                           | CUSIP: 38141GWZ3<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | DBT              | CORP              | US        |   1525000 | PA      | $1516595.57   | 0.09%             | 2029-05-01      | Fixed         | 4.22%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                                                | FN FM3123                                                    | CUSIP: 3140X6PH8<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   5294031 | PA      | $4940125.71   | 0.28%             | 2038-03-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| Constellation Energy Generation LLC                                                  | CEG 3.9 01/08/28                                             | CUSIP: 210385AP5<br>LEI: S2PEWKCZFFECR4533P43 | Long             | DBT              | CORP              | US        |    650000 | PA      | $645081.04    | 0.04%             | 2028-01-08      | Fixed         | 3.90%                 | No            |                  2 | On Loan: No      |
| Williams Companies Inc. (The)                                                        | WMB 3.5 11/15/30                                             | CUSIP: 969457BX7<br>LEI: D71FAKCBLFS2O0RBPG08 | Long             | DBT              | CORP              | US        |   1140000 | PA      | $1083832.99   | 0.06%             | 2030-11-15      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| CSMC 2022-NQM1 TRUST                                                                 | CSMC 2022-NQM1 A1                                            | CUSIP: 126416AA4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   5937178 | PA      | $5384819.61   | 0.30%             | 2066-11-25      | Variable      | 3.27%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                             | GNR 2021-45 IO                                               | CUSIP: 38380RM64<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-O            | USGA              | US        |   6741861 | PA      | $402157.37    | 0.02%             | 2063-04-16      | Variable      | 0.81%                 | No            |                  2 | On Loan: No      |
| Truist Financial Corp.                                                               | TFC V6.047 06/08/27 MTN                                      | CUSIP: 89788MAN2<br>LEI: 549300DRQQI75D2JP341 | Long             | DBT              | CORP              | US        |     10000 | PA      | $10025.61     | 0.00%             | 2027-06-08      | Fixed         | 6.05%                 | No            |                  2 | On Loan: No      |
| GOVERNMENT NATIONAL MORTGAGE ASSOCIATION II MORTGAGE-BACKED SECURITIES               | GN 550987                                                    | CUSIP: 36213DCY2<br>LEI: N/A                  | Long             | ABS-MBS          | USGA              | US        |      5730 | PA      | $5905.21      | 0.00%             | 2031-10-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Williams Companies Inc. (The)                                                        | WMB 8.75 03/15/32                                            | CUSIP: 969457BM1<br>LEI: D71FAKCBLFS2O0RBPG08 | Long             | DBT              | CORP              | US        |   1015000 | PA      | $1205942.41   | 0.07%             | 2032-03-15      | Fixed         | 8.75%                 | No            |                  2 | On Loan: No      |
| JBS NV                                                                               | JBS 5.625 03/10/37 144A                                      | CUSIP: 46590XBA3<br>LEI: 254900JSFON4WL81TW77 | Long             | DBT              | CORP              | NL        |   1060000 | PA      | $1063980.30   | 0.06%             | 2037-03-10      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| Suzano Austria GmbH                                                                  | SUZANO 3.125 01/15/32                                        | CUSIP: 86964WAK8<br>LEI: 254900287ZNSGVP1R341 | Long             | DBT              | CORP              | AT        |   3170000 | PA      | $2791728.66   | 0.16%             | 2032-01-15      | Fixed         | 3.12%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                                                | FN FS3672                                                    | CUSIP: 3140XKCJ7<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   3630613 | PA      | $3696833.01   | 0.21%             | 2053-02-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| GOVERNMENT NATIONAL MORTGAGE ASSOCIATION II MORTGAGE-BACKED SECURITIES               | GN 595070                                                    | CUSIP: 36200ACF4<br>LEI: N/A                  | Long             | ABS-MBS          | USGA              | US        |      6320 | PA      | $6542.08      | 0.00%             | 2032-10-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                             | GN 580769                                                    | CUSIP: 36201EFJ4<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |       832 | PA      | $849.45       | 0.00%             | 2034-09-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| RTX Corp.                                                                            | RTX 4.5 06/01/42                                             | CUSIP: 913017BT5<br>LEI: I07WOS4YJ0N7YRFE7309 | Long             | DBT              | CORP              | US        |    293000 | PA      | $260174.67    | 0.01%             | 2042-06-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Amazon.com, Inc.                                                                     | AMZN 4.35 03/20/33                                           | CUSIP: 023135CU8<br>LEI: ZXTILKJKG63JELOEG630 | Long             | DBT              | CORP              | US        |    680000 | PA      | $667898.36    | 0.04%             | 2033-03-20      | Fixed         | 4.35%                 | No            |                  2 | On Loan: No      |
| Eli Lilly & Co.                                                                      | LLY 5.1 02/09/64                                             | CUSIP: 532457CN6<br>LEI: FRDRIPF3EKNDJ2CQJL29 | Long             | DBT              | CORP              | US        |   2320000 | PA      | $2088751.36   | 0.12%             | 2064-02-09      | Fixed         | 5.10%                 | No            |                  2 | On Loan: No      |
| MARKET STREET CLO LTD II                                                             | MKTST 2025-2A A1                                             | CUSIP: 57064FAA7<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   4080000 | PA      | $4087491.70   | 0.23%             | 2038-03-20      | Variable      | 5.21%                 | No            |                  2 | On Loan: No      |
| BNP Paribas SA                                                                       | BNP V5.125 01/13/29 144A                                     | CUSIP: 09659W2V5<br>LEI: R0MUWSFPU8MPRO8K5P83 | Long             | DBT              | CORP              | FR        |   3950000 | PA      | $3991762.64   | 0.23%             | 2029-01-13      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                             | GN 781856                                                    | CUSIP: 36241KBZ0<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |     11496 | PA      | $11899.45     | 0.00%             | 2034-08-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| CSMC 2020-West                                                                       | CSMC 2021-RPL4 A1                                            | CUSIP: 12662GAC2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |  10363296 | PA      | $10334637.52  | 0.59%             | 2060-12-27      | Variable      | 4.15%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                             | G2 786726                                                    | CUSIP: 3622ACLF5<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   9999302 | PA      | $8137759.39   | 0.46%             | 2051-03-20      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| Humana Inc.                                                                          | HUM 2.15 02/03/32                                            | CUSIP: 444859BR2<br>LEI: 529900YLDW34GJAO4J06 | Long             | DBT              | CORP              | US        |   1240000 | PA      | $1062034.53   | 0.06%             | 2032-02-03      | Fixed         | 2.15%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                                                | FN BR6515                                                    | CUSIP: 3140L5GZ3<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   1184436 | PA      | $968273.96    | 0.05%             | 2051-04-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| GOVERNMENT NATIONAL MORTGAGE ASSOCIATION II MORTGAGE-BACKED SECURITIES               | GN 577734                                                    | CUSIP: 36201AY77<br>LEI: N/A                  | Long             | ABS-MBS          | USGA              | US        |       786 | PA      | $814.87       | 0.00%             | 2032-10-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Alphabet Inc.                                                                        | GOOGL 5.5 02/15/46                                           | CUSIP: 02079KBN6<br>LEI: 5493006MHB84DD0ZWV18 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $992559.98    | 0.06%             | 2046-02-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| WELLS FARGO COMMERCIAL MORTGAGE TRUST 2019-C49                                       | WFCM 2019-C49 B                                              | CUSIP: 95001WBF4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   2160000 | PA      | $2104849.80   | 0.12%             | 2052-03-15      | Fixed         | 4.55%                 | No            |                  2 | On Loan: No      |
| Broadcom Inc                                                                         | AVGO 4.8 02/15/36                                            | CUSIP: 11135FCY5<br>LEI: 549300WV6GIDOZJTV909 | Long             | DBT              | CORP              | US        |    850000 | PA      | $829016.57    | 0.05%             | 2036-02-15      | Fixed         | 4.80%                 | No            |                  2 | On Loan: No      |
| MPLX LP                                                                              | MPLX 4.5 04/15/38                                            | CUSIP: 55336VAM2<br>LEI: 5493000CZJ19CK4P3G36 | Long             | DBT              | CORP              | US        |    388000 | PA      | $348840.42    | 0.02%             | 2038-04-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                             | GNR 2025-175 LS                                              | CUSIP: 38385HFF9<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-O            | USGA              | US        |   5643919 | PA      | $546535.66    | 0.03%             | 2055-10-20      | Floating      | 2.28%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                             | GN 607631                                                    | CUSIP: 36202SA81<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |      3808 | PA      | $3841.40      | 0.00%             | 2033-01-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Phantom 2026-1 Aviation Ltd. / Phantom 2026-1 Aviation LLC                           | PHNTOM 2026-1A A                                             | CUSIP: 71711GAA3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | KY        |   1822917 | PA      | $1791749.49   | 0.10%             | 2051-01-15      | Fixed         | 5.24%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                                                | FN AL0476                                                    | CUSIP: 3138EGQ64<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     72558 | PA      | $73370.31     | 0.00%             | 2040-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Bank of America Corp.                                                                | BAC 4.25 10/22/26 MTN                                        | CUSIP: 06051GFL8<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |   4240000 | PA      | $4238430.99   | 0.24%             | 2026-10-22      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                             | G2 784905                                                    | CUSIP: 3622AAKS2<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   4019361 | PA      | $3558421.41   | 0.20%             | 2050-01-20      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Alphabet Inc.                                                                        | GOOGL 4.8 02/15/36                                           | CUSIP: 02079KBM8<br>LEI: 5493006MHB84DD0ZWV18 | Long             | DBT              | CORP              | US        |    580000 | PA      | $577740.38    | 0.03%             | 2036-02-15      | Fixed         | 4.80%                 | No            |                  2 | On Loan: No      |
| Bayfront Iabs VII Pte Ltd.                                                           | BAYFRT 7A A                                                  | CUSIP: 000000000<br>LEI: 213800DAFLLBYWNXMG91 | Long             | ABS-O            | CORP              | SG        |   3040000 | PA      | $3039708.16   | 0.17%             | 2048-04-11      | Floating      | 5.14%                 | No            |                  2 | On Loan: No      |
| FREDDIE MAC STRUCTURED PASS THROUGH CERTIFICATES                                     | FHMS K062 X1                                                 | CUSIP: 3137BUX86<br>LEI: N/A                  | Long             | ABS-O            | USGSE             | US        | 238031876 | PA      | $417912.57    | 0.02%             | 2026-12-25      | Variable      | 0.27%                 | No            |                  2 | On Loan: No      |
| Solventum Corp.                                                                      | SOLV 5.6 03/23/34                                            | CUSIP: 83444MAR2<br>LEI: 254900I70403OSGY4M28 | Long             | DBT              | CORP              | US        |    600000 | PA      | $613577.46    | 0.03%             | 2034-03-23      | Fixed         | 5.60%                 | No            |                  2 | On Loan: No      |
| GOVERNMENT NATIONAL MORTGAGE ASSOCIATION II MORTGAGE-BACKED SECURITIES               | GN 781576                                                    | CUSIP: 36225BXD5<br>LEI: N/A                  | Long             | ABS-MBS          | USGA              | US        |      9134 | PA      | $9385.89      | 0.00%             | 2033-03-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                             | GN 781516                                                    | CUSIP: 36225BVH8<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |      8432 | PA      | $8832.34      | 0.00%             | 2032-09-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| BP Capital Markets America, Inc.                                                     | BPLN 3 02/24/50                                              | CUSIP: 10373QBG4<br>LEI: 5493009NTB34VXE1T760 | Long             | DBT              | CORP              | US        |    490000 | PA      | $315241.52    | 0.02%             | 2050-02-24      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| UnitedHealth Group Inc.                                                              | UNH 4.2 05/15/32                                             | CUSIP: 91324PEJ7<br>LEI: 549300GHBMY8T5GXDE41 | Long             | DBT              | CORP              | US        |    950000 | PA      | $926376.47    | 0.05%             | 2032-05-15      | Fixed         | 4.20%                 | No            |                  2 | On Loan: No      |
| AbbVie Inc.                                                                          | ABBV 5.05 03/15/34                                           | CUSIP: 00287YDU0<br>LEI: FR5LCKFTG8054YNNRU85 | Long             | DBT              | CORP              | US        |   1900000 | PA      | $1929024.97   | 0.11%             | 2034-03-15      | Fixed         | 5.05%                 | No            |                  2 | On Loan: No      |
| Enterprise Products Operating LLC                                                    | EPD 4.85 01/31/34                                            | CUSIP: 29379VCF8<br>LEI: 5493004LGN656HWLDA30 | Long             | DBT              | CORP              | US        |    680000 | PA      | $678957.08    | 0.04%             | 2034-01-31      | Fixed         | 4.85%                 | No            |                  2 | On Loan: No      |
| Chile (Republic Of)                                                                  | CHILE 2.55 07/27/33                                          | CUSIP: 168863DT2<br>LEI: 549300FLZTJM5YJF8D34 | Long             | DBT              | NUSS              | CL        |   1300000 | PA      | $1109420.00   | 0.06%             | 2033-07-27      | Fixed         | 2.55%                 | No            |                  2 | On Loan: No      |
| Goldman Sachs Group, Inc.                                                            | GS V3.615 03/15/28                                           | CUSIP: 38141GZR8<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | DBT              | CORP              | US        |   1660000 | PA      | $1647010.88   | 0.09%             | 2028-03-15      | Fixed         | 3.62%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                             | GN 552829                                                    | CUSIP: 36213FEA7<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |      5742 | PA      | $5840.39      | 0.00%             | 2032-10-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                             | GN BS1754                                                    | CUSIP: 3617MB5P0<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    225732 | PA      | $213363.52    | 0.01%             | 2050-03-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Humana Inc.                                                                          | HUM 3.95 03/15/27                                            | CUSIP: 444859BF8<br>LEI: 529900YLDW34GJAO4J06 | Long             | DBT              | CORP              | US        |      6000 | PA      | $5975.02      | 0.00%             | 2027-03-15      | Fixed         | 3.95%                 | No            |                  2 | On Loan: No      |
| Sands China Ltd.                                                                     | SANLTD 5.4 08/08/28                                          | CUSIP: 80007RAE5<br>LEI: 549300EVO6UZDGY05787 | Long             | DBT              | CORP              | KY        |   5145000 | PA      | $5186767.11   | 0.29%             | 2028-08-08      | Fixed         | 5.40%                 | No            |                  2 | On Loan: No      |
| Oneok Inc.                                                                           | OKE 6.05 09/01/33                                            | CUSIP: 682680BL6<br>LEI: 2T3D6M0JSY48PSZI1Q41 | Long             | DBT              | CORP              | US        |     90000 | PA      | $94403.48     | 0.01%             | 2033-09-01      | Fixed         | 6.05%                 | No            |                  2 | On Loan: No      |
| Honeywell Aerospace Inc.                                                             | HONA 5.732 03/16/56 144A                                     | CUSIP: 43849RAJ4<br>LEI: 213800ZUAQRBYL67JS90 | Long             | DBT              | CORP              | US        |   1130000 | PA      | $1117740.28   | 0.06%             | 2056-03-16      | Fixed         | 5.73%                 | No            |                  2 | On Loan: No      |
| JPMorgan Chase & Co.                                                                 | JPM V4.452 12/05/29                                          | CUSIP: 46647PAX4<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | DBT              | CORP              | US        |   5541000 | PA      | $5548636.55   | 0.31%             | 2029-12-05      | Fixed         | 4.45%                 | No            |                  2 | On Loan: No      |
| NOMURA ASSET ACCEPTANCE CORP ALTERNATIVE LOAN TRUST SERIES 2005-AP2                  | NAA 2005-AP2 A5                                              | CUSIP: 65535VLL0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     37862 | PA      | $17856.23     | 0.00%             | 2035-05-25      | Variable      | 5.48%                 | No            |                  2 | On Loan: No      |
| Bank of America Corp.                                                                | BAC V2.572 10/20/32                                          | CUSIP: 06051GKD0<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |   5320000 | PA      | $4735078.29   | 0.27%             | 2032-10-20      | Fixed         | 2.57%                 | No            |                  2 | On Loan: No      |
| BANK 2022-BNK44                                                                      | BANK 2022-BNK44 A5                                           | CUSIP: 06540KAJ8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   4280000 | PA      | $4459450.13   | 0.25%             | 2055-11-18      | Variable      | 5.74%                 | No            |                  2 | On Loan: No      |
| Royal Caribbean Group                                                                | RCL 6 02/01/33 144A                                          | CUSIP: 780153BV3<br>LEI: K2NEH8QNVW44JIWK7Z55 | Long             | DBT              | CORP              | LR        |   1370000 | PA      | $1384024.87   | 0.08%             | 2033-02-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| CARVAL CLO XI-C LTD /LLC                                                             | CARVL 2024-3A A1                                             | CUSIP: 14688RAA8<br>LEI: 254900BDRF474L9PWM54 | Long             | ABS-CBDO         | CORP              | KY        |   9890000 | PA      | $9897654.86   | 0.56%             | 2037-10-20      | Floating      | 5.06%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                                                | FN FM8025                                                    | CUSIP: 3140XB4K3<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    863279 | PA      | $745502.78    | 0.04%             | 2051-07-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| Broadcom Inc                                                                         | AVGO 3.137 11/15/35 144A                                     | CUSIP: 11135FBP5<br>LEI: 549300WV6GIDOZJTV909 | Long             | DBT              | CORP              | US        |   3930000 | PA      | $3340578.21   | 0.19%             | 2035-11-15      | Fixed         | 3.14%                 | No            |                  2 | On Loan: No      |
| Siemens Funding BV                                                                   | SIEGR 4.9 05/28/32 144A                                      | CUSIP: 82622RAD8<br>LEI: 213800CCRGH2TO338X64 | Long             | DBT              | CORP              | NL        |    680000 | PA      | $693598.14    | 0.04%             | 2032-05-28      | Fixed         | 4.90%                 | No            |                  2 | On Loan: No      |
| GS MORTGAGE SECURITIES TRUST 2015-GS1                                                | GSMS 2017-GS8 A4                                             | CUSIP: 36254KAL6<br>LEI: 549300WZ62L3Y22NOZ64 | Long             | ABS-O            | CORP              | US        |   4100000 | PA      | $4036283.95   | 0.23%             | 2050-11-11      | Fixed         | 3.47%                 | No            |                  2 | On Loan: No      |
| BOARD OF TRADE OF THE CITY OF CHICAGO, INC.                                          | 5-Year T-Note Options                                        | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DIR              | CORP              | US        |      -327 | NC      | $-58757.82    | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| Federal National Mortgage Association                                                | FN AS9453                                                    | CUSIP: 3138WKQF5<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    453275 | PA      | $434642.25    | 0.02%             | 2047-04-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                             | GNR 2017-H22 IC                                              | CUSIP: 38375UY79<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-O            | USGA              | US        |    137271 | PA      | $5174.83      | 0.00%             | 2067-11-20      | Variable      | 2.52%                 | No            |                  2 | On Loan: No      |
| Broadcom Inc                                                                         | AVGO 4.15 11/15/30                                           | CUSIP: 11135FAQ4<br>LEI: 549300WV6GIDOZJTV909 | Long             | DBT              | CORP              | US        |    612000 | PA      | $602663.36    | 0.03%             | 2030-11-15      | Fixed         | 4.15%                 | No            |                  2 | On Loan: No      |
| OCP SA                                                                               | OCPMR 6.75 05/02/34 144A                                     | CUSIP: 67091TAF2<br>LEI: 213800D26TAPVTCVWG40 | Long             | DBT              | CORP              | MA        |   4110000 | PA      | $4279813.12   | 0.24%             | 2034-05-02      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| AerCap Ireland Capital Designated Activity Co. / AerCap Global Aviation Trust (AER)  | AER 5 11/15/35                                               | CUSIP: 00774MBS3<br>LEI: 549300TI38531ODB1G63 | Long             | DBT              | CORP              | IE        |    370000 | PA      | $357650.38    | 0.02%             | 2035-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Howmet Aerospace Inc                                                                 | HWM 4.55 11/15/32                                            | CUSIP: 443201AD0<br>LEI: 549300HO5WFZUT5N2T22 | Long             | DBT              | CORP              | US        |   1160000 | PA      | $1145439.48   | 0.06%             | 2032-11-15      | Fixed         | 4.55%                 | No            |                  2 | On Loan: No      |
| CVS Health Corp                                                                      | CVS 4.78 03/25/38                                            | CUSIP: 126650CY4<br>LEI: 549300EJG376EN5NQE29 | Long             | DBT              | CORP              | US        |    230000 | PA      | $212077.87    | 0.01%             | 2038-03-25      | Fixed         | 4.78%                 | No            |                  2 | On Loan: No      |
| Cameron LNG LLC                                                                      | CAMLNG 3.302 01/15/35 144A                                   | CUSIP: 133434AB6<br>LEI: 549300C39FLHGVD73K22 | Long             | DBT              | CORP              | US        |   1760000 | PA      | $1531505.71   | 0.09%             | 2035-01-15      | Fixed         | 3.30%                 | No            |                  2 | On Loan: No      |
| OBX 2022-NQM1 TRUST                                                                  | OBX 2022-NQM1 A1                                             | CUSIP: 67114VAA1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   4666424 | PA      | $4233529.20   | 0.24%             | 2061-11-25      | Variable      | 2.31%                 | No            |                  2 | On Loan: No      |
| BOARD OF TRADE OF THE CITY OF CHICAGO, INC.                                          | 2-Year T-Note Futures, Jun-2026,ETH                          | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DIR              | CORP              | US        |      2063 | NC      | $-1682250.12  | -0.10%            |  |  |  | No            |                  1 | On Loan: No      |
| Federal National Mortgage Association                                                | FN BC2817                                                    | CUSIP: 3140EXDX8<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   2902441 | PA      | $2620787.58   | 0.15%             | 2046-09-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corp.                                                     | FR SC0093                                                    | CUSIP: 3132D9C69<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   3388956 | PA      | $2981858.91   | 0.17%             | 2040-10-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| CI Financial Corp                                                                    | CIXCN 7.5 05/30/29 144A                                      | CUSIP: 125491AT7<br>LEI: 549300M9W7JJQSVCEM78 | Long             | DBT              | CORP              | CA        |   2700000 | PA      | $2834809.65   | 0.16%             | 2029-05-30      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| MPLX LP                                                                              | MPLX 4.8 02/15/29                                            | CUSIP: 55336VAS9<br>LEI: 5493000CZJ19CK4P3G36 | Long             | DBT              | CORP              | US        |    574000 | PA      | $578889.17    | 0.03%             | 2029-02-15      | Fixed         | 4.80%                 | No            |                  2 | On Loan: No      |
| Synopsys Inc                                                                         | SNPS 5.7 04/01/55                                            | CUSIP: 871607AG2<br>LEI: QG7T915N9S0NY5UKNE63 | Long             | DBT              | CORP              | US        |   1120000 | PA      | $1071550.79   | 0.06%             | 2055-04-01      | Fixed         | 5.70%                 | No            |                  2 | On Loan: No      |
| SPECTRUM MANAGEMENT HOLDING COMPANY LLC                                              | CHTR 5.875 11/15/40                                          | CUSIP: 88732JAY4<br>LEI: B1WXCWLJVJXMWJX6O298 | Long             | DBT              | CORP              | US        |   1008000 | PA      | $914330.13    | 0.05%             | 2040-11-15      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                             | GN 641302                                                    | CUSIP: 36291XNT2<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |      1921 | PA      | $1978.62      | 0.00%             | 2035-04-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                                                | FN AS6340                                                    | CUSIP: 3138WGBJ2<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    714576 | PA      | $671004.90    | 0.04%             | 2045-12-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                             | G2 786366                                                    | CUSIP: 3622AB6B3<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   2274055 | PA      | $2206964.55   | 0.12%             | 2052-08-20      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| UnitedHealth Group Inc.                                                              | UNH 2.9 05/15/50                                             | CUSIP: 91324PDZ2<br>LEI: 549300GHBMY8T5GXDE41 | Long             | DBT              | CORP              | US        |   1540000 | PA      | $959534.55    | 0.05%             | 2050-05-15      | Fixed         | 2.90%                 | No            |                  2 | On Loan: No      |
| GCAT 2024-INV3 TRUST                                                                 | GCAT 2024-INV3 A17                                           | CUSIP: 36830FAS5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   3588893 | PA      | $3664363.19   | 0.21%             | 2054-09-25      | Variable      | 6.50%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                             | GN 711067                                                    | CUSIP: 36297F6C1<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |      7211 | PA      | $7365.08      | 0.00%             | 2040-01-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SMRT COMMERCIAL MORTGAGE TRUST 2022-MINI                                             | SMRT 2022-MINI A                                             | CUSIP: 78457JAA0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   4610000 | PA      | $4608079.47   | 0.26%             | 2039-01-18      | Floating      | 4.67%                 | No            |                  2 | On Loan: No      |
| CHICAGO MERCANTILE EXCHANGE INC.                                                     | Three-Month SOFR Futures, Mar-2026,ETH                       | CUSIP: 000000000<br>LEI: SNZ2OJLFK8MNNCLQOF39 | N/A              | DIR              | CORP              | US        |       814 | NC      | $-378184.40   | -0.02%            |  |  |  | No            |                  1 | On Loan: No      |
| Alphabet Inc.                                                                        | GOOGL 4.4 02/15/33                                           | CUSIP: 02079KBL0<br>LEI: 5493006MHB84DD0ZWV18 | Long             | DBT              | CORP              | US        |    240000 | PA      | $237080.35    | 0.01%             | 2033-02-15      | Fixed         | 4.40%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                             | G2 786474                                                    | CUSIP: 3622ACCK4<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   2262306 | PA      | $2259996.56   | 0.13%             | 2053-01-20      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                             | G2 786709                                                    | CUSIP: 3622ACKW9<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   3831120 | PA      | $3827209.35   | 0.22%             | 2053-05-20      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                             | GN 607718                                                    | CUSIP: 36202SDX3<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |       502 | PA      | $513.84       | 0.00%             | 2033-03-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Fedex Freight Holding Co. Inc.                                                       | FDX 4.95 03/15/33 144A                                       | CUSIP: 314352AE5<br>LEI: 984500Y1DA5A58ICE336 | Long             | DBT              | CORP              | US        |    580000 | PA      | $565886.13    | 0.03%             | 2033-03-15      | Fixed         | 4.95%                 | No            |                  2 | On Loan: No      |
| Verizon Communications Inc.                                                          | VZ 3.15 03/22/30                                             | CUSIP: 92343VFE9<br>LEI: 2S72QS2UO2OESLG6Y829 | Long             | DBT              | CORP              | US        |   1160000 | PA      | $1105109.17   | 0.06%             | 2030-03-22      | Fixed         | 3.15%                 | No            |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corp.                                                     | FHMS KC05 X1                                                 | CUSIP: 3137FPJQ9<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-O            | USGSE             | US        |   5410558 | PA      | $43599.36     | 0.00%             | 2027-06-25      | Variable      | 1.18%                 | No            |                  2 | On Loan: No      |
| HARBOR PARK CLO LTD                                                                  | HARB 2018-1A BR2                                             | CUSIP: 41154XAY1<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |   2610000 | PA      | $2614740.80   | 0.15%             | 2031-01-20      | Variable      | 5.07%                 | No            |                  2 | On Loan: No      |
| AON NORTH AMERICA INC                                                                | AON 5.45 03/01/34                                            | CUSIP: 03740MAD2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    880000 | PA      | $899052.61    | 0.05%             | 2034-03-01      | Fixed         | 5.45%                 | No            |                  2 | On Loan: No      |
| Amazon.com, Inc.                                                                     | AMZN 5.95 03/13/66                                           | CUSIP: 023135DJ2<br>LEI: ZXTILKJKG63JELOEG630 | Long             | DBT              | CORP              | US        |    860000 | PA      | $863474.27    | 0.05%             | 2066-03-13      | Fixed         | 5.95%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                             | GN 605516                                                    | CUSIP: 36200NVH1<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |     13124 | PA      | $13252.47     | 0.00%             | 2034-10-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                                                | FN BE0433                                                    | CUSIP: 3140FKPT1<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    151106 | PA      | $136574.72    | 0.01%             | 2046-11-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                             | GN 637142                                                    | CUSIP: 36291SZF0<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |      9695 | PA      | $10034.79     | 0.00%             | 2035-04-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| WASTE CONNECTIONS INC                                                                | WCNCN 5 03/01/34                                             | CUSIP: 94106BAG6<br>LEI: 549300HDLRTPBQU69P29 | Long             | DBT              | CORP              | CA        |   1540000 | PA      | $1550745.00   | 0.09%             | 2034-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                                                | FN BD9654                                                    | CUSIP: 3140FHWQ6<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    350295 | PA      | $316608.51    | 0.02%             | 2046-11-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                             | GN 605730                                                    | CUSIP: 36200N4P3<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |     21881 | PA      | $22727.31     | 0.00%             | 2034-10-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                             | GNR 2017-190 IO                                              | CUSIP: 38380JKP2<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-O            | USGA              | US        |   1183285 | PA      | $43642.65     | 0.00%             | 2060-03-16      | Variable      | 0.62%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                             | GN 606773                                                    | CUSIP: 36201YCJ3<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |      5541 | PA      | $5600.02      | 0.00%             | 2033-04-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                             | GN 569704                                                    | CUSIP: 36200Q3M4<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |      2511 | PA      | $2588.60      | 0.00%             | 2032-02-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                             | G2 BM9743                                                    | CUSIP: 3617K1ZG1<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    391066 | PA      | $370181.85    | 0.02%             | 2049-11-20      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corp.                                                     | FG A11750                                                    | CUSIP: 31296K5K5<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     18978 | PA      | $19038.34     | 0.00%             | 2033-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                             | G2 784899                                                    | CUSIP: 3622AAKL7<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   3181657 | PA      | $2984439.62   | 0.17%             | 2048-02-20      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                                                | FN BE3284                                                    | CUSIP: 3140FNUJ1<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    167677 | PA      | $151516.58    | 0.01%             | 2046-11-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                             | GN 635314                                                    | CUSIP: 36291QYK4<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |      9307 | PA      | $9557.77      | 0.00%             | 2034-11-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corp.                                                     | FR SL3103                                                    | CUSIP: 31427QNV0<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    616095 | PA      | $640504.30    | 0.04%             | 2054-10-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                             | GN 783669                                                    | CUSIP: 3622A2CE0<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    480209 | PA      | $439821.50    | 0.02%             | 2042-09-15      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| FEDERAL HOME LN MTG CORP MULTICLASS MTG PARTN CTFS GTD                               | FRESR 2017-SR01 A3                                           | CUSIP: 3137FCJG0<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-O            | USGSE             | US        |    212607 | PA      | $208637.85    | 0.01%             | 2027-11-25      | Fixed         | 3.09%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                             | GN 598242                                                    | CUSIP: 36200DS79<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |      8053 | PA      | $8121.91      | 0.00%             | 2033-05-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Oracle Corp.                                                                         | ORCL 3.6 04/01/50                                            | CUSIP: 68389XBX2<br>LEI: 1Z4GXXU7ZHVWFCD8TV52 | Long             | DBT              | CORP              | US        |    420000 | PA      | $253756.46    | 0.01%             | 2050-04-01      | Fixed         | 3.60%                 | No            |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corp.                                                     | FHR 2957 ZA                                                  | CUSIP: 31395TLN2<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-O            | USGSE             | US        |    879839 | PA      | $897576.79    | 0.05%             | 2035-03-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FORTRESS CREDIT BSL XXIV LTD                                                         | FCBSL 2025-1A A                                              | CUSIP: 34990BAA4<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | JE        |   3250000 | PA      | $3249202.13   | 0.18%             | 2038-04-20      | Floating      | 4.94%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                                                | FNA 2020-M6 A                                                | CUSIP: 3136B8UA5<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-O            | USGSE             | US        |   1236284 | PA      | $1098818.49   | 0.06%             | 2037-10-25      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| Charter Communications Operating, LLC/Charter Communications Operating Capital Corp. | CHTR 5.375 04/01/38                                          | CUSIP: 161175BM5<br>LEI: 549300TPZNMN50BJ3745 | Long             | DBT              | CORP              | US        |   1337000 | PA      | $1199211.57   | 0.07%             | 2038-04-01      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                                                | FN FS0612                                                    | CUSIP: 3140XFVE8<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    702787 | PA      | $578329.88    | 0.03%             | 2052-02-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                             | G2 786823                                                    | CUSIP: 3622ACPG9<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   1901124 | PA      | $1933662.13   | 0.11%             | 2053-07-20      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| UK CLEARING HOUSE LIMITED                                                            | IRS USD                                                      | CUSIP: 000000000<br>LEI: 213800O8SCO4XJGBU385 | N/A              | DIR              | CORP              | GB        |         1 | NC      | $221093.55    | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                             | GNR 2020-49 IO                                               | CUSIP: 38380PDL5<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-O            | USGA              | US        |   5804343 | PA      | $434665.77    | 0.02%             | 2062-07-16      | Variable      | 1.05%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                                                | FN 916381                                                    | CUSIP: 31411WCS4<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |       178 | PA      | $181.40       | 0.00%             | 2037-05-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| CHICAGO MERCANTILE EXCHANGE INC.                                                     | Options on Three-Month SOFR Futures                          | CUSIP: 000000000<br>LEI: SNZ2OJLFK8MNNCLQOF39 | N/A              | DIR              | CORP              | US        |      1330 | NC      | $91437.50     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Federal National Mortgage Association                                                | FN 619063                                                    | CUSIP: 31388YWY4<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |       401 | PA      | $409.06       | 0.00%             | 2031-12-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                                                | FN BM1565                                                    | CUSIP: 3140J5W39<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   4627309 | PA      | $4190912.28   | 0.24%             | 2047-04-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| GOODGREEN 2017-2                                                                     | GOODG 2017-2A A                                              | CUSIP: 38218QAA8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | KY        |    483491 | PA      | $440354.64    | 0.02%             | 2053-10-15      | Fixed         | 3.26%                 | No            |                  2 | On Loan: No      |
| Prosus NV                                                                            | PRXNA 4.027 08/03/50 144A                                    | CUSIP: 74365PAD0<br>LEI: 635400Z5LQ5F9OLVT688 | Long             | DBT              | CORP              | NL        |   5510000 | PA      | $3694004.39   | 0.21%             | 2050-08-03      | Fixed         | 4.03%                 | No            |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corp.                                                     | FR RB5084                                                    | CUSIP: 3133KYUH0<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   6570850 | PA      | $5605433.35   | 0.32%             | 2040-11-01      | Fixed         | 1.50%                 | No            |                  2 | On Loan: No      |
| Bristol-Myers Squibb Company                                                         | BMY 5.2 02/22/34                                             | CUSIP: 110122EH7<br>LEI: HLYYNH7UQUORYSJQCN42 | Long             | DBT              | CORP              | US        |   1120000 | PA      | $1148622.57   | 0.07%             | 2034-02-22      | Fixed         | 5.20%                 | No            |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corp.                                                     | FR QC0885                                                    | CUSIP: 3133AJ6W8<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    879992 | PA      | $718560.23    | 0.04%             | 2051-04-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| Amazon.com, Inc.                                                                     | AMZN 5.8 03/13/56                                            | CUSIP: 023135DH6<br>LEI: ZXTILKJKG63JELOEG630 | Long             | DBT              | CORP              | US        |    510000 | PA      | $509950.26    | 0.03%             | 2056-03-13      | Fixed         | 5.80%                 | No            |                  2 | On Loan: No      |
| INTERCONTINENTAL EXCHANGE, INC.                                                      | CDS CDX.NA.IG.46.V1                                          | CUSIP: 000000000<br>LEI: 5493000F4ZO33MV32P92 | N/A              | DCR              | CORP              | US        |         1 | NC      | $3457606.09   | 0.20%             |  |  |  | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                             | GN 564897                                                    | CUSIP: 36213URS1<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |       435 | PA      | $445.58       | 0.00%             | 2034-01-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| T-Mobile USA, Inc.                                                                   | TMUS 3.3 02/15/51                                            | CUSIP: 87264ABN4<br>LEI: 549300V2JRLO5DIFGE82 | Long             | DBT              | CORP              | US        |     10000 | PA      | $6550.69      | 0.00%             | 2051-02-15      | Fixed         | 3.30%                 | No            |                  2 | On Loan: No      |
| NTT Finance Corp                                                                     | NTT 4.62 07/16/28 144A                                       | CUSIP: 62954WAQ8<br>LEI: 3538007PR116187GD960 | Long             | DBT              | CORP              | JP        |    600000 | PA      | $602378.96    | 0.03%             | 2028-07-16      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                             | GN 605498                                                    | CUSIP: 36200NUX7<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |       210 | PA      | $215.14       | 0.00%             | 2034-09-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| GOVERNMENT NATIONAL MORTGAGE ASSOCIATION II MORTGAGE-BACKED SECURITIES               | GN 570142                                                    | CUSIP: 36200RLX8<br>LEI: N/A                  | Long             | ABS-MBS          | USGA              | US        |     27678 | PA      | $28699.12     | 0.00%             | 2031-12-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Oneok Inc.                                                                           | OKE 5.55 11/01/26                                            | CUSIP: 682680BH5<br>LEI: 2T3D6M0JSY48PSZI1Q41 | Long             | DBT              | CORP              | US        |    900000 | PA      | $905358.44    | 0.05%             | 2026-11-01      | Fixed         | 5.55%                 | No            |                  2 | On Loan: No      |
| BOARD OF TRADE OF THE CITY OF CHICAGO, INC.                                          | 5-Year T-Note Futures, Jun-2026,ETH                          | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DIR              | CORP              | US        |      2706 | NC      | $-3573876.28  | -0.20%            |  |  |  | No            |                  1 | On Loan: No      |
| JPMorgan Chase & Co.                                                                 | JPM V4.493 03/24/31                                          | CUSIP: 46647PBJ4<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | DBT              | CORP              | US        |   1910000 | PA      | $1900281.75   | 0.11%             | 2031-03-24      | Fixed         | 4.49%                 | No            |                  2 | On Loan: No      |
| Boeing Co.                                                                           | BA 3.2 03/01/29                                              | CUSIP: 097023CD5<br>LEI: RVHJWBXLJ1RFUBSY1F30 | Long             | DBT              | CORP              | US        |   1780000 | PA      | $1717199.27   | 0.10%             | 2029-03-01      | Fixed         | 3.20%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                             | GN 611461                                                    | CUSIP: 36202WJE0<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |      2860 | PA      | $2950.90      | 0.00%             | 2033-04-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| MPLX LP                                                                              | MPLX 5.2 03/01/47                                            | CUSIP: 55336VAL4<br>LEI: 5493000CZJ19CK4P3G36 | Long             | DBT              | CORP              | US        |    740000 | PA      | $654969.02    | 0.04%             | 2047-03-01      | Fixed         | 5.20%                 | No            |                  2 | On Loan: No      |
| Oneok Inc.                                                                           | OKE 5.8 11/01/30                                             | CUSIP: 682680BK8<br>LEI: 2T3D6M0JSY48PSZI1Q41 | Long             | DBT              | CORP              | US        |   1220000 | PA      | $1270157.34   | 0.07%             | 2030-11-01      | Fixed         | 5.80%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                             | GNR 2017-41 IO                                               | CUSIP: 38379RPH0<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-O            | USGA              | US        |   1622283 | PA      | $36822.10     | 0.00%             | 2058-07-16      | Variable      | 0.49%                 | No            |                  2 | On Loan: No      |
| Washington Mutual Mortgage Pass-Through Certificates                                 | WAMU 2007-HY4 4A1                                            | CUSIP: 933636AJ1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     47582 | PA      | $45256.64     | 0.00%             | 2036-09-25      | Variable      | 4.42%                 | No            |                  2 | On Loan: No      |
| Philip Morris International Inc.                                                     | PM 5.25 02/13/34                                             | CUSIP: 718172DJ5<br>LEI: HL3H1H2BGXWVG3BSWR90 | Long             | DBT              | CORP              | US        |   1340000 | PA      | $1365110.72   | 0.08%             | 2034-02-13      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Targa Resources Corp.                                                                | TRGP 4.95 04/15/52                                           | CUSIP: 87612GAB7<br>LEI: 5493003QENHHS261UR94 | Long             | DBT              | CORP              | US        |   1210000 | PA      | $1014173.45   | 0.06%             | 2052-04-15      | Fixed         | 4.95%                 | No            |                  2 | On Loan: No      |
| Goldman Sachs Group, Inc.                                                            | GS 3.5 11/16/26                                              | CUSIP: 38145GAH3<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | DBT              | CORP              | US        |   3495000 | PA      | $3478678.98   | 0.20%             | 2026-11-16      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Tsmc Arizona Corp.                                                                   | TAISEM 1.75 10/25/26                                         | CUSIP: 872898AA9<br>LEI: 2549005GOBWLCSY63Q97 | Long             | DBT              | CORP              | US        |   7100000 | PA      | $7005847.40   | 0.40%             | 2026-10-25      | Fixed         | 1.75%                 | No            |                  2 | On Loan: No      |
| Mars Inc.                                                                            | MARS 3.2 04/01/30 144A                                       | CUSIP: 571676AB1<br>LEI: 54930073HKEO6GZBSS03 | Long             | DBT              | CORP              | US        |    178000 | PA      | $169885.57    | 0.01%             | 2030-04-01      | Fixed         | 3.20%                 | No            |                  2 | On Loan: No      |
| L3 Harris Technologies Inc                                                           | LHX 4.854 04/27/35                                           | CUSIP: 413875AS4<br>LEI: 549300UTE50ZMDBG8A20 | Long             | DBT              | CORP              | US        |   1080000 | PA      | $1060023.23   | 0.06%             | 2035-04-27      | Fixed         | 4.85%                 | No            |                  2 | On Loan: No      |
| PFP 2024-11 LTD                                                                      | PFP 2024-11 A                                                | CUSIP: 69291WAA0<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   1894736 | PA      | $1898419.35   | 0.11%             | 2039-09-19      | Floating      | 5.50%                 | No            |                  2 | On Loan: No      |
| ELMWOOD CLO I LTD                                                                    | ELMW1 2019-1A A1R3                                           | CUSIP: 290015BJ4<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   3620000 | PA      | $3603706.74   | 0.20%             | 2037-04-20      | Floating      | 4.78%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                             | GN 454426                                                    | CUSIP: 36208LYX9<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |        12 | PA      | $12.51        | 0.00%             | 2033-12-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Citigroup Inc.                                                                       | C V3.52 10/27/28                                             | CUSIP: 172967LS8<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |   2294000 | PA      | $2260460.78   | 0.13%             | 2028-10-27      | Fixed         | 3.52%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                             | GN 587390                                                    | CUSIP: 36201MRK0<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |       792 | PA      | $828.13       | 0.00%             | 2032-11-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corp.                                                     | FR SL0789                                                    | CUSIP: 31427M2X8<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   1339874 | PA      | $1374513.44   | 0.08%             | 2055-01-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                             | GN 552959                                                    | CUSIP: 36213FJC8<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |     14354 | PA      | $14801.67     | 0.00%             | 2032-12-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| BENCHMARK 2021-B25 MORTGAGE TRUST                                                    | BMARK 2021-B25 XA                                            | CUSIP: 08163DAG2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |  21166440 | PA      | $855761.27    | 0.05%             | 2054-04-17      | Variable      | 1.06%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                             | GNR 2023-92 AH                                               | CUSIP: 38381H8H7<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-O            | USGA              | US        |  18517620 | PA      | $14184437.79  | 0.80%             | 2064-06-16      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                                                | FN FA1134                                                    | CUSIP: 3140W1HL0<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    787717 | PA      | $817733.45    | 0.05%             | 2054-06-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                             | G2 785532                                                    | CUSIP: 3622ABA93<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   3973915 | PA      | $3512043.50   | 0.20%             | 2051-06-20      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Gilead Sciences Inc.                                                                 | GILD 4.75 03/01/46                                           | CUSIP: 375558BD4<br>LEI: 549300WTZWR07K8MNV44 | Long             | DBT              | CORP              | US        |   1537000 | PA      | $1362963.92   | 0.08%             | 2046-03-01      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| GOVERNMENT NATIONAL MORTGAGE ASSOCIATION I MORTGAGE-BACKED SECURITIES                | GN 510835                                                    | CUSIP: 36211EPU6<br>LEI: N/A                  | Long             | ABS-MBS          | USGA              | US        |     24902 | PA      | $25572.72     | 0.00%             | 2035-02-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corp.                                                     | FR SC0188                                                    | CUSIP: 3132D9F58<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   3378438 | PA      | $2953342.35   | 0.17%             | 2041-09-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| Alphabet Inc.                                                                        | GOOGL 4.1 02/15/31                                           | CUSIP: 02079KBK2<br>LEI: 5493006MHB84DD0ZWV18 | Long             | DBT              | CORP              | US        |    360000 | PA      | $357576.54    | 0.02%             | 2031-02-15      | Fixed         | 4.10%                 | No            |                  2 | On Loan: No      |
| Sands China Ltd.                                                                     | SANLTD 4.375 06/18/30                                        | CUSIP: 80007RAL9<br>LEI: 549300EVO6UZDGY05787 | Long             | DBT              | CORP              | KY        |   4520000 | PA      | $4364417.53   | 0.25%             | 2030-06-18      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| Freeport-McMoRan Inc.                                                                | FCX 5.4 11/14/34                                             | CUSIP: 35671DBJ3<br>LEI: 549300IRDTHJQ1PVET45 | Long             | DBT              | CORP              | US        |   1404000 | PA      | $1425384.44   | 0.08%             | 2034-11-14      | Fixed         | 5.40%                 | No            |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corp.                                                     | FR QB9485                                                    | CUSIP: 3133AGRE1<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   1297117 | PA      | $1070575.91   | 0.06%             | 2051-03-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                             | G2 786835                                                    | CUSIP: 3622ACPU8<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   7770344 | PA      | $7904853.35   | 0.45%             | 2053-08-20      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Morgan Stanley Capital I Inc                                                         | MSM 2005-3AR 2A2                                             | CUSIP: 61745M4P5<br>LEI: 3IFG42XD94UUZ7FL2766 | Long             | ABS-O            | CORP              | US        |    198326 | PA      | $178925.00    | 0.01%             | 2035-07-25      | Variable      | 3.47%                 | No            |                  2 | On Loan: No      |
| Connecticut Avenue Securities Trust 2022-R04                                         | CAS 2022-R04 1M2                                             | CUSIP: 20753YCK6<br>LEI: N/A                  | Long             | ABS-O            | USGSE             | US        |   5755000 | PA      | $5837388.58   | 0.33%             | 2042-03-25      | Floating      | 6.76%                 | No            |                  2 | On Loan: No      |
| Oglethorpe Power Corp.                                                               | OGLETH 5.9 02/01/55                                          | CUSIP: 677050AY2<br>LEI: 3EERXCUSWMS9GV5D9M98 | Long             | DBT              | CORP              | US        |   1160000 | PA      | $1131355.06   | 0.06%             | 2055-02-01      | Fixed         | 5.90%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                                                | FNMA-30YR                                                    | CUSIP: 01F052649<br>LEI: B1V7KEBTPIMZEU4LTD58 | Short            | ABS-MBS          | USGSE             | US        |  -1000000 | PA      | $-1004762.16  | -0.06%            | 2056-04-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Southern Copper Corporation                                                          | SCCO 7.5 07/27/35                                            | CUSIP: 84265VAA3<br>LEI: 2549007U6NAP46Q9TU15 | Long             | DBT              | CORP              | US        |   1530000 | PA      | $1750570.92   | 0.10%             | 2035-07-27      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                             | GNR 2021-84 ED                                               | CUSIP: 38381DFG0<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-O            | USGA              | US        |   1053496 | PA      | $742472.46    | 0.04%             | 2060-07-16      | Fixed         | 1.00%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                             | GN 580980                                                    | CUSIP: 36201EM56<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |      5225 | PA      | $5377.74      | 0.00%             | 2032-02-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Morgan Stanley                                                                       | MS V4.431 01/23/30 GMTN                                      | CUSIP: 6174468G7<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |    584000 | PA      | $581511.55    | 0.03%             | 2030-01-23      | Fixed         | 4.43%                 | No            |                  2 | On Loan: No      |
| GOVERNMENT NATIONAL MORTGAGE ASSOCIATION II MORTGAGE-BACKED SECURITIES               | GN 781029                                                    | CUSIP: 36225BEA2<br>LEI: N/A                  | Long             | ABS-MBS          | USGA              | US        |     10075 | PA      | $10322.64     | 0.00%             | 2029-05-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                             | GN 631221                                                    | CUSIP: 36291LG66<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |     23319 | PA      | $24178.45     | 0.00%             | 2035-05-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| United Air Lines, Inc.                                                               | UAL 4.625 04/15/29 144A                                      | CUSIP: 90932LAH0<br>LEI: K1OQBWM7XEOO08LDNP29 | Long             | DBT              | CORP              | US        |   3910000 | PA      | $3838755.50   | 0.22%             | 2029-04-15      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| GALAXY 36 CLO LTD                                                                    | GALXY 2025-36A A1                                            | CUSIP: 362937AA2<br>LEI: 3912001BAV136N4VWQ53 | Long             | ABS-CBDO         | CORP              | KY        |   3640000 | PA      | $3640596.60   | 0.21%             | 2038-10-15      | Floating      | 5.01%                 | No            |                  2 | On Loan: No      |
| Coterra Energy Inc                                                                   | CTRA 3.9 05/15/27                                            | CUSIP: 127097AG8<br>LEI: FCNMH6O7VWU7LHXMK351 | Long             | DBT              | CORP              | US        |   1209000 | PA      | $1200690.05   | 0.07%             | 2027-05-15      | Fixed         | 3.90%                 | No            |                  2 | On Loan: No      |
| Williams Companies Inc. (The)                                                        | WMB 5.15 03/15/34                                            | CUSIP: 88339WAC0<br>LEI: D71FAKCBLFS2O0RBPG08 | Long             | DBT              | CORP              | US        |   1250000 | PA      | $1252089.69   | 0.07%             | 2034-03-15      | Fixed         | 5.15%                 | No            |                  2 | On Loan: No      |
| Intel Corporation                                                                    | INTC 4.75 03/25/50                                           | CUSIP: 458140BM1<br>LEI: KNX4USFCNGPY45LOCE31 | Long             | DBT              | CORP              | US        |   1305000 | PA      | $1056584.98   | 0.06%             | 2050-03-25      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                                                | FN FS1726                                                    | CUSIP: 3140XG4L0<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    847548 | PA      | $744383.79    | 0.04%             | 2041-09-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| JPMorgan Chase & Co.                                                                 | JPM V5.576 07/23/36                                          | CUSIP: 46647PFC5<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | DBT              | CORP              | US        |   2110000 | PA      | $2137580.72   | 0.12%             | 2036-07-23      | Fixed         | 5.58%                 | No            |                  2 | On Loan: No      |
| GINNIE MAE (H) 23-85                                                                 | GNR 2026-5 SM                                                | CUSIP: 38385LCG1<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-O            | USGA              | US        |   5372667 | PA      | $394056.67    | 0.02%             | 2055-12-20      | Floating      | 2.03%                 | No            |                  2 | On Loan: No      |
| Mid-Atlantic Interstate Transmission Llc                                             | FE 4.1 05/15/28 144A                                         | CUSIP: 59524QAA3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1594000 | PA      | $1585995.39   | 0.09%             | 2028-05-15      | Fixed         | 4.10%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                             | GN 619251                                                    | CUSIP: 36290V5L4<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |       725 | PA      | $740.80       | 0.00%             | 2034-11-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| LOANPAL SOLAR LOAN 2020-3 LLC                                                        | LPSLT 2020-3GS A                                             | CUSIP: 53948NAA1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   6153824 | PA      | $5120787.82   | 0.29%             | 2047-12-20      | Fixed         | 2.47%                 | No            |                  2 | On Loan: No      |
| Peru (Republic Of)                                                                   | PERU 5.5 03/30/36                                            | CUSIP: 715638FC1<br>LEI: 254900STKLK2DBJJZ530 | Long             | DBT              | NUSS              | PE        |   5030000 | PA      | $5019437.00   | 0.28%             | 2036-03-30      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| MAGNETITE CBO II LTD                                                                 | MAGNE 2021-29A BR                                            | CUSIP: 55955KAN4<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   2970000 | PA      | $2975698.24   | 0.17%             | 2037-07-15      | Floating      | 5.42%                 | No            |                  2 | On Loan: No      |
| BANK OF AMERICA, NATIONAL ASSOCIATION                                                | CDS PRIMEX.FRM.1                                             | CUSIP: 000000000<br>LEI: B4TYDEB6GKMZO031MB27 | N/A              | DCR              | CORP              | US        |         1 | NC      | $19353.27     | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| Government National Mortgage Association                                             | GN 644966                                                    | CUSIP: 36292CQT4<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |     20509 | PA      | $21129.12     | 0.00%             | 2035-06-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Vistra Operations Co LLC                                                             | VST 5.35 01/31/36 144A                                       | CUSIP: 92840VAZ5<br>LEI: 549300ZH5GKBTJZ7NM23 | Long             | DBT              | CORP              | US        |   1570000 | PA      | $1536815.70   | 0.09%             | 2036-01-31      | Fixed         | 5.35%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                                                | FN AL6175                                                    | CUSIP: 3138EN2H1<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   1292118 | PA      | $1218589.92   | 0.07%             | 2044-01-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Barclays PLC                                                                         | BACR V5.088 06/20/30                                         | CUSIP: 06738EBK0<br>LEI: 213800LBQA1Y9L22JB70 | Long             | DBT              | CORP              | GB        |    918000 | PA      | $921308.10    | 0.05%             | 2030-06-20      | Fixed         | 5.09%                 | No            |                  2 | On Loan: No      |
| Amazon.com, Inc.                                                                     | AMZN 4.1 11/20/30                                            | CUSIP: 023135CT1<br>LEI: ZXTILKJKG63JELOEG630 | Long             | DBT              | CORP              | US        |   2910000 | PA      | $2877103.38   | 0.16%             | 2030-11-20      | Fixed         | 4.10%                 | No            |                  2 | On Loan: No      |
| Boeing Co.                                                                           | BA 5.15 05/01/30                                             | CUSIP: 097023CY9<br>LEI: RVHJWBXLJ1RFUBSY1F30 | Long             | DBT              | CORP              | US        |    793000 | PA      | $806559.97    | 0.05%             | 2030-05-01      | Fixed         | 5.15%                 | No            |                  2 | On Loan: No      |
| CVS Health Corp                                                                      | CVSPAS 6.036 12/10/28                                        | CUSIP: 126650BP4<br>LEI: 549300EJG376EN5NQE29 | Long             | DBT              | CORP              | US        |    701551 | PA      | $708270.03    | 0.04%             | 2028-12-10      | Fixed         | 6.04%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                             | G2 784674                                                    | CUSIP: 3622AACK8<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   3617580 | PA      | $3368777.69   | 0.19%             | 2048-04-20      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| AerCap Ireland Capital Designated Activity Co. / AerCap Global Aviation Trust (AER)  | AER 2.45 10/29/26                                            | CUSIP: 00774MAV7<br>LEI: 549300TI38531ODB1G63 | Long             | DBT              | CORP              | IE        |   2960000 | PA      | $2927867.60   | 0.17%             | 2026-10-29      | Fixed         | 2.45%                 | No            |                  2 | On Loan: No      |
| UBS COMMERCIAL MORTGAGE TRUST 2018-C11                                               | UBSCM 2018-C11 B                                             | CUSIP: 90276XAZ8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1430000 | PA      | $1359241.88   | 0.08%             | 2051-06-16      | Variable      | 4.71%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                                                | FN AS6562                                                    | CUSIP: 3138WGJG0<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    605141 | PA      | $564629.33    | 0.03%             | 2046-01-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Alphabet Inc.                                                                        | GOOGL 5.35 11/15/45                                          | CUSIP: 02079KAZ0<br>LEI: 5493006MHB84DD0ZWV18 | Long             | DBT              | CORP              | US        |    240000 | PA      | $234810.19    | 0.01%             | 2045-11-15      | Fixed         | 5.35%                 | No            |                  2 | On Loan: No      |
| Kinder Morgan, Inc.                                                                  | KMI 4.3 03/01/28                                             | CUSIP: 49456BAP6<br>LEI: 549300WR7IX8XE0TBO16 | Long             | DBT              | CORP              | US        |   2690000 | PA      | $2687641.49   | 0.15%             | 2028-03-01      | Fixed         | 4.30%                 | No            |                  2 | On Loan: No      |
| Elevance Health Inc.                                                                 | ELV 4.55 05/15/52                                            | CUSIP: 036752AU7<br>LEI: 8MYN82XMYQH89CTMTH67 | Long             | DBT              | CORP              | US        |    910000 | PA      | $733672.46    | 0.04%             | 2052-05-15      | Fixed         | 4.55%                 | No            |                  2 | On Loan: No      |
| Consolidated Edison Company of New York, Inc.                                        | ED 3.35 04/01/30 20A                                         | CUSIP: 209111FX6<br>LEI: VZFZPMWDHTQCFKYOBP05 | Long             | DBT              | CORP              | US        |     10000 | PA      | $9596.23      | 0.00%             | 2030-04-01      | Fixed         | 3.35%                 | No            |                  2 | On Loan: No      |
| Charter Communications Operating, LLC/Charter Communications Operating Capital Corp. | CHTR 5.75 04/01/48                                           | CUSIP: 161175BN3<br>LEI: 549300TPZNMN50BJ3745 | Long             | DBT              | CORP              | US        |    497000 | PA      | $414815.53    | 0.02%             | 2048-04-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Cameron LNG LLC                                                                      | CAMLNG 2.902 07/15/31 144A                                   | CUSIP: 133434AA8<br>LEI: 549300C39FLHGVD73K22 | Long             | DBT              | CORP              | US        |   1340000 | PA      | $1227696.01   | 0.07%             | 2031-07-15      | Fixed         | 2.90%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                             | G2 785791                                                    | CUSIP: 3622ABKC5<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   7707225 | PA      | $6620862.62   | 0.37%             | 2051-12-20      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| Broadcom Inc                                                                         | AVGO 4.926 05/15/37 144A                                     | CUSIP: 11135FBV2<br>LEI: 549300WV6GIDOZJTV909 | Long             | DBT              | CORP              | US        |     25000 | PA      | $24264.54     | 0.00%             | 2037-05-15      | Fixed         | 4.93%                 | No            |                  2 | On Loan: No      |
| Royal Caribbean Cruises Ltd.                                                         | RCL 5.25 02/27/38                                            | CUSIP: 78017TAD5<br>LEI: K2NEH8QNVW44JIWK7Z55 | Long             | DBT              | CORP              | LR        |    370000 | PA      | $352139.10    | 0.02%             | 2038-02-27      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                                                | FNMA-30YR                                                    | CUSIP: 01F060642<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   5800000 | PA      | $5913008.65   | 0.33%             | 2056-04-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                             | GN 597997                                                    | CUSIP: 36200DKJ1<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |      2738 | PA      | $2758.60      | 0.00%             | 2032-12-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| BOARD OF TRADE OF THE CITY OF CHICAGO, INC.                                          | Ultra 10-Year U.S. Treasury Note Futures, Jun-2026,ETH       | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DIR              | CORP              | US        |       -10 | NC      | $-3454.80     | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| Goldman Sachs Group, Inc.                                                            | GS V2.908 07/21/42                                           | CUSIP: 38141GYK4<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | DBT              | CORP              | US        |     10000 | PA      | $7049.74      | 0.00%             | 2042-07-21      | Fixed         | 2.91%                 | No            |                  2 | On Loan: No      |
| FEDERAL HOME LOAN MORTGAGE CORP                                                      | SCRT 2024-1 MT                                               | CUSIP: 35563PR43<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-O            | USGSE             | US        |   5602837 | PA      | $4746241.70   | 0.27%             | 2063-11-25      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| AT&T Inc                                                                             | T 3.55 09/15/55                                              | CUSIP: 00206RLJ9<br>LEI: 549300Z40J86GGSTL398 | Long             | DBT              | CORP              | US        |    871000 | PA      | $566896.36    | 0.03%             | 2055-09-15      | Fixed         | 3.55%                 | No            |                  2 | On Loan: No      |
| Citigroup Inc.                                                                       | C V4.412 03/31/31                                            | CUSIP: 172967MP3<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |   2340000 | PA      | $2313804.85   | 0.13%             | 2031-03-31      | Fixed         | 4.41%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                                                | FN CA9358                                                    | CUSIP: 3140QHMG7<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    567906 | PA      | $514938.51    | 0.03%             | 2041-03-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                             | GN 564649                                                    | CUSIP: 36213UH29<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |      2890 | PA      | $2943.09      | 0.00%             | 2031-06-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Deutsche Mortgage Securities Inc Mortgage Loan Trust                                 | DMSI 2004-4 7AR2                                             | CUSIP: 251563FE7<br>LEI: 529900RSBMUF46QF5O69 | Long             | ABS-O            | CORP              | US        |     13441 | PA      | $12857.04     | 0.00%             | 2034-06-25      | Floating      | 4.24%                 | No            |                  2 | On Loan: No      |
| Enterprise Products Operating LLC                                                    | EPD 7.55 04/15/38                                            | CUSIP: 29379VAM5<br>LEI: 5493004LGN656HWLDA30 | Long             | DBT              | CORP              | US        |    360000 | PA      | $427896.37    | 0.02%             | 2038-04-15      | Fixed         | 7.55%                 | No            |                  2 | On Loan: No      |
| GOVERNMENT NATIONAL MORTGAGE ASSOCIATION I MORTGAGE-BACKED SECURITIES                | GN 781712                                                    | CUSIP: 36225B3V8<br>LEI: N/A                  | Long             | ABS-MBS          | USGA              | US        |      1305 | PA      | $1354.26      | 0.00%             | 2034-01-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Meta Platforms Inc                                                                   | META 5.5 11/15/45                                            | CUSIP: 30303M8X3<br>LEI: BQ4BKCS1HXDV9HN80Z93 | Long             | DBT              | CORP              | US        |   1140000 | PA      | $1079530.42   | 0.06%             | 2045-11-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| ABRY LIQUID CREDIT CLO 2025-2 LTD                                                    | ALC 2025-2A A1                                               | CUSIP: 003943AA5<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   2930000 | PA      | $2922385.52   | 0.17%             | 2038-01-15      | Variable      | 4.99%                 | No            |                  2 | On Loan: No      |
| FEDERAL NATIONAL MORTGAGE ASSOCIATION                                                | FNA 2020-M54 X                                               | CUSIP: 3136BDDH8<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-O            | USGSE             | US        |  28056460 | PA      | $1725160.89   | 0.10%             | 2033-12-25      | Variable      | 1.43%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                                                | FN FM5904                                                    | CUSIP: 3140X9R23<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   2041256 | PA      | $1754975.52   | 0.10%             | 2051-02-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                                                | FN BR3256                                                    | CUSIP: 3140L1TN5<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   2079117 | PA      | $1723247.10   | 0.10%             | 2051-02-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| SPECTRUM MANAGEMENT HOLDING COMPANY LLC                                              | CHTR 6.55 05/01/37                                           | CUSIP: 88732JAJ7<br>LEI: B1WXCWLJVJXMWJX6O298 | Long             | DBT              | CORP              | US        |   1091000 | PA      | $1100792.88   | 0.06%             | 2037-05-01      | Fixed         | 6.55%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                             | G2 BS8420                                                    | CUSIP: 3617MKK99<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   2316522 | PA      | $2181793.84   | 0.12%             | 2050-04-20      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                                                | FN FM7727                                                    | CUSIP: 3140XBSR2<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   1190107 | PA      | $1034591.51   | 0.06%             | 2051-06-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| UBS Group AG                                                                         | UBS V4.751 05/12/28 144A                                     | CUSIP: 902613AP3<br>LEI: 549300SZJ9VS8SGXAN81 | Long             | DBT              | CORP              | CH        |   2490000 | PA      | $2497339.00   | 0.14%             | 2028-05-12      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                             | GN 781558                                                    | CUSIP: 36225BWT1<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |     10426 | PA      | $10731.10     | 0.00%             | 2032-09-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                             | GNR 2013-107 AD                                              | CUSIP: 38378KYP8<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-O            | USGA              | US        |   2382960 | PA      | $2175320.52   | 0.12%             | 2047-11-16      | Variable      | 2.77%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                                                | FNR 2013-29 QI                                               | CUSIP: 3136ADKM0<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-O            | USGSE             | US        |    615848 | PA      | $101915.11    | 0.01%             | 2043-04-25      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                                                | FN BF0301                                                    | CUSIP: 3140FXKP6<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    737852 | PA      | $713535.26    | 0.04%             | 2058-08-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| United States Treasury Notes                                                         | T 3.75 02/28/33                                              | CUSIP: 91282CQC8<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    550000 | PA      | $537496.09    | 0.03%             | 2033-02-28      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| Broadcom Inc                                                                         | AVGO 4.6 01/15/33                                            | CUSIP: 11135FDA6<br>LEI: 549300WV6GIDOZJTV909 | Long             | DBT              | CORP              | US        |   1760000 | PA      | $1733875.99   | 0.10%             | 2033-01-15      | Fixed         | 4.60%                 | No            |                  2 | On Loan: No      |
| Bayswater Park CLO Ltd. / Bayswater Park CLO LLC                                     | BAYPK 2023-1A AR                                             | CUSIP: 072929AQ5<br>LEI: 254900BXH0PMWI87VS84 | Long             | ABS-CBDO         | CORP              | JE        |   2980000 | PA      | $2980506.00   | 0.17%             | 2039-01-20      | Floating      | 4.88%                 | No            |                  2 | On Loan: No      |
| Bank of America Corp.                                                                | BAC 5 01/21/44 MTN                                           | CUSIP: 06051GFC8<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |   2305000 | PA      | $2146168.47   | 0.12%             | 2044-01-21      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                                                | FN BZ2295                                                    | CUSIP: 3140NWRR8<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    800000 | PA      | $791635.31    | 0.04%             | 2034-10-01      | Fixed         | 4.35%                 | No            |                  2 | On Loan: No      |
| FEDERAL HOME LOAN BANKS                                                              | FR SD7534                                                    | CUSIP: 3132DVLP8<br>LEI: 2549001DPIFGXC1TOL40 | Long             | ABS-MBS          | USGSE             | US        |   6386955 | PA      | $5505120.20   | 0.31%             | 2051-02-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| B.A.T. Capital Corporation                                                           | BATSLN 6.25 08/15/55                                         | CUSIP: 05526DCD5<br>LEI: 2138005GYEXN7XRHFA84 | Long             | DBT              | CORP              | US        |    610000 | PA      | $617605.94    | 0.03%             | 2055-08-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| Bank of Montreal                                                                     | BMO V3.803 12/15/32                                          | CUSIP: 06368BGS1<br>LEI: NQQ6HPCNCCU6TUTQYE16 | Long             | DBT              | CORP              | CA        |      6000 | PA      | $5906.42      | 0.00%             | 2032-12-15      | Fixed         | 3.80%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                             | GN 552833                                                    | CUSIP: 36213FEE9<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |      3952 | PA      | $4015.08      | 0.00%             | 2032-10-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Goldman Sachs Group, Inc.                                                            | GS V3.814 04/23/29                                           | CUSIP: 38141GWV2<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | DBT              | CORP              | US        |   3306000 | PA      | $3261704.82   | 0.18%             | 2029-04-23      | Fixed         | 3.81%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                                                | FN CB3880                                                    | CUSIP: 3140QPJ24<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    763678 | PA      | $763357.51    | 0.04%             | 2052-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Anheuser-Busch Companies LLC / Anheuser-Busch InBev Worldwide Inc                    | ABIBB 4.9 02/01/46 *                                         | CUSIP: 03522AAJ9<br>LEI: 5493002J2SVENP0PVK27 | Long             | DBT              | CORP              | US        |   1945000 | PA      | $1753887.53   | 0.10%             | 2046-02-01      | Fixed         | 4.90%                 | No            |                  2 | On Loan: No      |
| United States Treasury Notes                                                         | T 4 07/31/32                                                 | CUSIP: 91282CNR8<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  28000000 | PA      | $27862734.48  | 1.58%             | 2032-07-31      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                             | GN 586225                                                    | CUSIP: 36201LHA5<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |       372 | PA      | $381.46       | 0.00%             | 2034-08-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Meta Platforms Inc                                                                   | META 5.625 11/15/55 .                                        | CUSIP: 30303MAE2<br>LEI: BQ4BKCS1HXDV9HN80Z93 | Long             | DBT              | CORP              | US        |    960000 | PA      | $900537.52    | 0.05%             | 2055-11-15      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                                                | FN BU8750                                                    | CUSIP: 3140MAWL4<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   3131954 | PA      | $3129644.47   | 0.18%             | 2052-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MidCap Financial Issuer Trust                                                        | MIDCAP 5.37 04/15/29 144A                                    | CUSIP: 59590AAF6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2850000 | PA      | $2815526.28   | 0.16%             | 2029-04-15      | Fixed         | 5.37%                 | No            |                  2 | On Loan: No      |
| Wells Fargo & Co.                                                                    | WFC 4.3 07/22/27 GMTN                                        | CUSIP: 94974BGL8<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | DBT              | CORP              | US        |   3906000 | PA      | $3901926.51   | 0.22%             | 2027-07-22      | Fixed         | 4.30%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                             | GN 582388                                                    | CUSIP: 36201F6Z5<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |     10475 | PA      | $10699.50     | 0.00%             | 2032-10-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                             | GN 544106                                                    | CUSIP: 36212UNX5<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |      4693 | PA      | $4732.92      | 0.00%             | 2035-03-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| HSBC Holdings PLC                                                                    | HSBC V5.279 03/10/37                                         | CUSIP: 404280FM6<br>LEI: MLU0ZO3ML4LN2LL2TL39 | Long             | DBT              | CORP              | GB        |   1870000 | PA      | $1837112.37   | 0.10%             | 2037-03-10      | Fixed         | 5.28%                 | No            |                  2 | On Loan: No      |
| Fedex Freight Holding Co. Inc.                                                       | FDX 5.25 03/15/36 144A                                       | CUSIP: 314352AG0<br>LEI: 984500Y1DA5A58ICE336 | Long             | DBT              | CORP              | US        |     30000 | PA      | $29035.96     | 0.00%             | 2036-03-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                             | G2 BS1742                                                    | CUSIP: 3617MB5B1<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    548464 | PA      | $519189.06    | 0.03%             | 2050-02-20      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                                                | FN CA2798                                                    | CUSIP: 3140QADC1<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   2206575 | PA      | $2168580.06   | 0.12%             | 2048-12-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| KINGS PARK CLO LTD 2021                                                              | KINGP 2021-1A A1R                                            | CUSIP: 496094AQ6<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   2810000 | PA      | $2806515.88   | 0.16%             | 2039-01-21      | Floating      | 4.87%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                                                | FN BE4712                                                    | CUSIP: 3140FQGW1<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     89020 | PA      | $80394.05     | 0.00%             | 2046-12-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Royal Caribbean Group                                                                | RCL 5.625 09/30/31 144A                                      | CUSIP: 780153BW1<br>LEI: K2NEH8QNVW44JIWK7Z55 | Long             | DBT              | CORP              | LR        |   1590000 | PA      | $1606064.52   | 0.09%             | 2031-09-30      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                                                | FN AL9483                                                    | CUSIP: 3138ERRD4<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    815619 | PA      | $738247.72    | 0.04%             | 2046-12-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| FEDERAL NATIONAL MORTGAGE ASSOCIATION                                                | FN MA4310                                                    | CUSIP: 31418DYG1<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   2978691 | PA      | $2536095.57   | 0.14%             | 2041-04-01      | Fixed         | 1.50%                 | No            |                  2 | On Loan: No      |
| AerCap Ireland Capital Designated Activity Co. / AerCap Global Aviation Trust (AER)  | AER 3 10/29/28                                               | CUSIP: 00774MAW5<br>LEI: 549300TI38531ODB1G63 | Long             | DBT              | CORP              | IE        |   2310000 | PA      | $2224154.19   | 0.13%             | 2028-10-29      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                                                | FN CA2199                                                    | CUSIP: 3140Q9NR0<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   4688286 | PA      | $4611905.04   | 0.26%             | 2048-08-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| FEDERAL HOME LN MTG CORP MULTICLASS MTG PARTN CTFS GTD                               | FHR 5397 IC                                                  | CUSIP: 3137HCG71<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-O            | USGSE             | US        |  16410274 | PA      | $2864885.95   | 0.16%             | 2052-04-25      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                             | GN 603478                                                    | CUSIP: 36200KM38<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |     15762 | PA      | $16259.46     | 0.00%             | 2033-02-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corp.                                                     | FR QC4689                                                    | CUSIP: 3133APF61<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   2428657 | PA      | $2094349.55   | 0.12%             | 2051-08-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| EMPOWER CLO 2023-2 LTD                                                               | EMPWR 2023-2A AR                                             | CUSIP: 29247BAN7<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    750000 | PA      | $751469.93    | 0.04%             | 2038-10-15      | Floating      | 4.99%                 | No            |                  2 | On Loan: No      |
| Exxon Mobil Corp.                                                                    | XOM 3.452 04/15/51                                           | CUSIP: 30231GBM3<br>LEI: J3WHBG0MTS7O8ZVMDC91 | Long             | DBT              | CORP              | US        |    590000 | PA      | $420628.78    | 0.02%             | 2051-04-15      | Fixed         | 3.45%                 | No            |                  2 | On Loan: No      |
| United States Treasury Bonds                                                         | T 3.375 11/15/48                                             | CUSIP: 912810SE9<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        | 123000000 | PA      | $96425273.13  | 5.46%             | 2048-11-15      | Fixed         | 3.38%                 | No            |                  2 | On Loan: No      |
| Banco Santander SA                                                                   | SANTAN 4.551 11/06/30                                        | CUSIP: 05971KAR0<br>LEI: 5493006QMFDDMYWIAM13 | Long             | DBT              | CORP              | ES        |   2600000 | PA      | $2563874.12   | 0.15%             | 2030-11-06      | Fixed         | 4.55%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                                                | FN BD6368                                                    | CUSIP: 3140FECE2<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |      4799 | PA      | $4343.40      | 0.00%             | 2046-09-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| NEW RESIDENTIAL MORTGAGE LOAN TRUST 2021-NQM3                                        | NRZT 2021-NQM3 A1                                            | CUSIP: 64831TAA5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   6592636 | PA      | $6063169.28   | 0.34%             | 2056-11-25      | Variable      | 1.16%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                             | GN 588967                                                    | CUSIP: 36201PJL0<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |        69 | PA      | $71.11        | 0.00%             | 2032-11-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                             | GN 637289                                                    | CUSIP: 36291S7A2<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |       679 | PA      | $684.98       | 0.00%             | 2034-11-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| SPECTRUM MANAGEMENT HOLDING COMPANY LLC                                              | CHTR 7.3 07/01/38                                            | CUSIP: 88732JAN8<br>LEI: B1WXCWLJVJXMWJX6O298 | Long             | DBT              | CORP              | US        |    403000 | PA      | $421984.09    | 0.02%             | 2038-07-01      | Fixed         | 7.30%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                             | GN 604091                                                    | CUSIP: 36200MC43<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |      4986 | PA      | $5123.29      | 0.00%             | 2033-03-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| AT&T Inc                                                                             | T 2.55 12/01/33                                              | CUSIP: 00206RMM1<br>LEI: 549300Z40J86GGSTL398 | Long             | DBT              | CORP              | US        |   1740000 | PA      | $1473176.19   | 0.08%             | 2033-12-01      | Fixed         | 2.55%                 | No            |                  2 | On Loan: No      |
| Northrop Grumman Corporation                                                         | NOC 3.25 01/15/28                                            | CUSIP: 666807BN1<br>LEI: RIMU48P07456QXSO0R61 | Long             | DBT              | CORP              | US        |      4000 | PA      | $3930.00      | 0.00%             | 2028-01-15      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| Georgia Power Company                                                                | SO 5.2 03/15/35                                              | CUSIP: 373334LB5<br>LEI: D981X4Z4RWS7PDMJUZ03 | Long             | DBT              | CORP              | US        |   1170000 | PA      | $1188923.18   | 0.07%             | 2035-03-15      | Fixed         | 5.20%                 | No            |                  2 | On Loan: No      |
| Ecopetrol S.A.                                                                       | ECOPET 5.875 05/28/45                                        | CUSIP: 279158AJ8<br>LEI: 254900IDGKCJICKBPA66 | Long             | DBT              | CORP              | CO        |   5355000 | PA      | $3946905.48   | 0.22%             | 2045-05-28      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corp.                                                     | FG C67997                                                    | CUSIP: 31287T3E3<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |       421 | PA      | $435.67       | 0.00%             | 2032-06-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Danske Bank A/S                                                                      | DANBNK V4.298 04/01/28 144A                                  | CUSIP: 23636ABC4<br>LEI: MAES062Z21O4RZ2U7M96 | Long             | DBT              | CORP              | DK        |    490000 | PA      | $489354.70    | 0.03%             | 2028-04-01      | Fixed         | 4.30%                 | No            |                  2 | On Loan: No      |
| OBRA CLO LTD                                                                         | OBRAC 2025-2A A1                                             | CUSIP: 674436AA8<br>LEI: 254900MMN4MOZ34WUC71 | Long             | ABS-CBDO         | CORP              | KY        |   5370000 | PA      | $5385463.99   | 0.30%             | 2038-07-20      | Floating      | 5.21%                 | No            |                  2 | On Loan: No      |
| Morgan Stanley                                                                       | MS V4.892 10/22/36 I                                         | CUSIP: 61748UAN2<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |   1530000 | PA      | $1479653.02   | 0.08%             | 2036-10-22      | Fixed         | 4.89%                 | No            |                  2 | On Loan: No      |
| Ford Motor Company                                                                   | F 6.1 08/19/32                                               | CUSIP: 345370DB3<br>LEI: 20S05OYHG0MQM4VUIC57 | Long             | DBT              | CORP              | US        |   1020000 | PA      | $1028987.74   | 0.06%             | 2032-08-19      | Fixed         | 6.10%                 | No            |                  2 | On Loan: No      |
| Morgan Stanley                                                                       | MS V2.699 01/22/31 GMTN                                      | CUSIP: 6174468L6<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |   4410000 | PA      | $4095893.74   | 0.23%             | 2031-01-22      | Fixed         | 2.70%                 | No            |                  2 | On Loan: No      |
| Oracle Corp.                                                                         | ORCL 5.35 05/04/33                                           | CUSIP: 68389XDY8<br>LEI: 1Z4GXXU7ZHVWFCD8TV52 | Long             | DBT              | CORP              | US        |    270000 | PA      | $262935.62    | 0.01%             | 2033-05-04      | Fixed         | 5.35%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                             | GN 592625                                                    | CUSIP: 36201TLE5<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |      6369 | PA      | $6490.81      | 0.00%             | 2033-04-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corp.                                                     | FR QB9391                                                    | CUSIP: 3133AGNG0<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    861204 | PA      | $710726.31    | 0.04%             | 2051-03-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                                                | FNR 2015-65 CZ                                               | CUSIP: 3136AP3N0<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-O            | USGSE             | US        |   1592313 | PA      | $1409826.48   | 0.08%             | 2045-09-25      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                             | GN 619017                                                    | CUSIP: 36290VVJ0<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |       267 | PA      | $273.21       | 0.00%             | 2034-07-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                                                | FNMA-30YR                                                    | CUSIP: 01F060642<br>LEI: B1V7KEBTPIMZEU4LTD58 | Short            | ABS-MBS          | USGSE             | US        |  -5800000 | PA      | $-5913008.65  | -0.33%            | 2056-04-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Charter Communications Operating, LLC/Charter Communications Operating Capital Corp. | CHTR 4.4 04/01/33                                            | CUSIP: 161175CJ1<br>LEI: 549300TPZNMN50BJ3745 | Long             | DBT              | CORP              | US        |   2190000 | PA      | $2048621.29   | 0.12%             | 2033-04-01      | Fixed         | 4.40%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                             | GN 542876                                                    | CUSIP: 36212TCM4<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |      1045 | PA      | $1074.08      | 0.00%             | 2031-05-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                                                | FNR 2012-118 VZ                                              | CUSIP: 3136A92R8<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-O            | USGSE             | US        |   5843517 | PA      | $5358120.74   | 0.30%             | 2042-11-25      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corp.                                                     | FR SI2056                                                    | CUSIP: 3133USH95<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   5113540 | PA      | $4761523.79   | 0.27%             | 2050-12-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Energy Transfer LP                                                                   | ET 6.25 04/15/49                                             | CUSIP: 29279FAA7<br>LEI: MTLVN9N7JE8MIBIJ1H73 | Long             | DBT              | CORP              | US        |    412000 | PA      | $404370.53    | 0.02%             | 2049-04-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corp.                                                     | FR QG2317                                                    | CUSIP: 3133C2SE9<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    247347 | PA      | $257592.44    | 0.01%             | 2053-05-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Kinder Morgan Energy Partners LP                                                     | KMI 6.55 09/15/40                                            | CUSIP: 494550BF2<br>LEI: 549300PDHUGWPWGOT525 | Long             | DBT              | CORP              | US        |    620000 | PA      | $664514.44    | 0.04%             | 2040-09-15      | Fixed         | 6.55%                 | No            |                  2 | On Loan: No      |
| General Motors Financial Company Inc                                                 | GM 4.35 01/17/27                                             | CUSIP: 37045XBT2<br>LEI: 5493008B6JBRUJ90QL97 | Long             | DBT              | CORP              | US        |    539000 | PA      | $538343.98    | 0.03%             | 2027-01-17      | Fixed         | 4.35%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                             | GNR 2013-72 IO                                               | CUSIP: 38378KQR3<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-O            | USGA              | US        |   6159651 | PA      | $120466.75    | 0.01%             | 2047-11-16      | Variable      | 0.56%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                                                | FN FM7607                                                    | CUSIP: 3140XBNZ9<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   2221154 | PA      | $2145529.23   | 0.12%             | 2038-04-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                             | GNR 2017-145 IO                                              | CUSIP: 38379R5W9<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-O            | USGA              | US        |   3908732 | PA      | $90226.03     | 0.01%             | 2057-04-16      | Variable      | 0.48%                 | No            |                  2 | On Loan: No      |
| Kenvue Inc.                                                                          | KVUE 4.9 03/22/33                                            | CUSIP: 49177JAK8<br>LEI: 5493008HSF8L4M2LIJ82 | Long             | DBT              | CORP              | US        |    390000 | PA      | $393250.11    | 0.02%             | 2033-03-22      | Fixed         | 4.90%                 | No            |                  2 | On Loan: No      |
| Antares Clo 2018-1 Ltd/ Llc                                                          | ANTR 2018-1A A1R                                             | CUSIP: 03665MAJ0<br>LEI: 254900BLLG7F7B4DGG41 | Long             | ABS-CBDO         | CORP              | KY        |   3110000 | PA      | $3113760.61   | 0.18%             | 2038-04-20      | Floating      | 5.04%                 | No            |                  2 | On Loan: No      |
| SHOW TRUST 2022-BIZ                                                                  | SHOW 2022-BIZ A                                              | CUSIP: 82539LAA9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   3750000 | PA      | $1511152.50   | 0.09%             | 2027-01-15      | Floating      | 6.65%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                                                | FN BE1289                                                    | CUSIP: 3140FLNF1<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    844236 | PA      | $763048.02    | 0.04%             | 2046-12-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                                                | FN BM4226                                                    | CUSIP: 3140J8VU4<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |  17381480 | PA      | $15839737.84  | 0.90%             | 2047-01-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| ARBOR REALTY COMMERCIAL REAL ESTATE NOTES 2022-FL1                                   | ARCLO 2022-FL1 A                                             | CUSIP: 03880XAA4<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   2852201 | PA      | $2857849.06   | 0.16%             | 2037-01-15      | Floating      | 5.12%                 | No            |                  2 | On Loan: No      |
| Cheniere Energy Partners Lp                                                          | CQP 5.55 10/30/35                                            | CUSIP: 16411QAW1<br>LEI: 5493005UEC8AZ34LDV29 | Long             | DBT              | CORP              | US        |   1050000 | PA      | $1069713.11   | 0.06%             | 2035-10-30      | Fixed         | 5.55%                 | No            |                  2 | On Loan: No      |
| U.S. Bancorp.                                                                        | USB V5.775 06/12/29                                          | CUSIP: 91159HJM3<br>LEI: N1GZ7BBF3NP8GI976H15 | Long             | DBT              | CORP              | US        |   1740000 | PA      | $1790011.67   | 0.10%             | 2029-06-12      | Fixed         | 5.78%                 | No            |                  2 | On Loan: No      |
| Philip Morris International Inc.                                                     | PM 4.875 02/13/29                                            | CUSIP: 718172DG1<br>LEI: HL3H1H2BGXWVG3BSWR90 | Long             | DBT              | CORP              | US        |    970000 | PA      | $984623.60    | 0.06%             | 2029-02-13      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| Morgan Stanley                                                                       | MS V3.622 04/01/31 MTN                                       | CUSIP: 6174468P7<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |   2910000 | PA      | $2791224.01   | 0.16%             | 2031-04-01      | Fixed         | 3.62%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                                                | FN BR7744                                                    | CUSIP: 3140L6TA2<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    960659 | PA      | $792281.60    | 0.04%             | 2051-04-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                                                | FN AS9588                                                    | CUSIP: 3138WKUN3<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   1274984 | PA      | $1220490.21   | 0.07%             | 2047-05-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                             | GN 469865                                                    | CUSIP: 36209E6A5<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |       228 | PA      | $232.00       | 0.00%             | 2029-01-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                                                | FNMA-30YR                                                    | CUSIP: 01F062648<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    200000 | PA      | $206932.01    | 0.01%             | 2056-04-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Magnetite XXVII Ltd.                                                                 | MAGNE 2020-27A ARR                                           | CUSIP: 55955EAW8<br>LEI: 5493003N6WY184N72D84 | Long             | ABS-CBDO         | CORP              | KY        |   3940000 | PA      | $3937060.76   | 0.22%             | 2038-10-20      | Floating      | 4.90%                 | No            |                  2 | On Loan: No      |
| Freeport-McMoRan Inc.                                                                | FCX 5.45 03/15/43                                            | CUSIP: 35671DBC8<br>LEI: 549300IRDTHJQ1PVET45 | Long             | DBT              | CORP              | US        |    650000 | PA      | $615479.83    | 0.03%             | 2043-03-15      | Fixed         | 5.45%                 | No            |                  2 | On Loan: No      |
| Huntington Ingalls Industries, Inc.                                                  | HII 5.749 01/15/35                                           | CUSIP: 446413BB1<br>LEI: 5TZLZ6WJTBVJ0QWBG121 | Long             | DBT              | CORP              | US        |    570000 | PA      | $590826.71    | 0.03%             | 2035-01-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Oracle Corp.                                                                         | ORCL 5.375 09/27/54                                          | CUSIP: 68389XCU7<br>LEI: 1Z4GXXU7ZHVWFCD8TV52 | Long             | DBT              | CORP              | US        |   1420000 | PA      | $1101876.36   | 0.06%             | 2054-09-27      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| Enterprise Products Operating LLC                                                    | EPD 6.65 10/15/34 H                                          | CUSIP: 293791AP4<br>LEI: 5493004LGN656HWLDA30 | Long             | DBT              | CORP              | US        |   2000000 | PA      | $2218895.06   | 0.13%             | 2034-10-15      | Fixed         | 6.65%                 | No            |                  2 | On Loan: No      |
| Meta Platforms Inc                                                                   | META 4.75 08/15/34                                           | CUSIP: 30303M8U9<br>LEI: BQ4BKCS1HXDV9HN80Z93 | Long             | DBT              | CORP              | US        |    740000 | PA      | $732207.16    | 0.04%             | 2034-08-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                             | GN 781691                                                    | CUSIP: 36225B2Y3<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |      1389 | PA      | $1434.63      | 0.00%             | 2033-11-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                                                | FNS 429 C10                                                  | CUSIP: 31423YVS5<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |  24390262 | PA      | $1301040.73   | 0.07%             | 2037-04-25      | Fixed         | 1.50%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                             | GN 582036                                                    | CUSIP: 36201FSZ1<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |       140 | PA      | $142.77       | 0.00%             | 2032-02-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                                                | FN AL9546                                                    | CUSIP: 3138ERTC4<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   2599766 | PA      | $2455980.50   | 0.14%             | 2046-11-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                             | GN 389754                                                    | CUSIP: 36205F5P4<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |      9482 | PA      | $9691.86      | 0.00%             | 2032-10-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| NEW RESIDENTIAL MORTGAGE LOAN TRUST 2022-NQM3                                        | NRZT 2022-NQM3 A1                                            | CUSIP: 64831QAA1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   5979065 | PA      | $5700682.29   | 0.32%             | 2062-04-25      | Variable      | 3.90%                 | No            |                  2 | On Loan: No      |
| Western Midstream Operating LP                                                       | WES 4.05 02/01/30                                            | CUSIP: 958667AC1<br>LEI: L6D8A6MLSY454J2JXJ60 | Long             | DBT              | CORP              | US        |   2380000 | PA      | $2311922.24   | 0.13%             | 2030-02-01      | Fixed         | 4.05%                 | No            |                  2 | On Loan: No      |
| Abbott Laboratories                                                                  | ABT 4.75 03/15/38                                            | CUSIP: 002824BV1<br>LEI: HQD377W2YR662HK5JX27 | Long             | DBT              | CORP              | US        |    550000 | PA      | $533577.98    | 0.03%             | 2038-03-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| CITIGROUP COMMERCIAL MORTGAGE TRUST 2019-C7                                          | CGCMT 2019-C7 A4                                             | CUSIP: 17328CAD4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   5000000 | PA      | $4735772.00   | 0.27%             | 2072-12-16      | Fixed         | 3.10%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                                                | FN BQ6341                                                    | CUSIP: 3140KSBK2<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     34383 | PA      | $30613.46     | 0.00%             | 2050-11-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                             | GN 605562                                                    | CUSIP: 36200NWX5<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |      3945 | PA      | $4103.78      | 0.00%             | 2034-11-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                                                | FN BJ9257                                                    | CUSIP: 3140HBJB5<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   2167911 | PA      | $2141004.47   | 0.12%             | 2048-06-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Chile (Republic Of)                                                                  | CHILE 2.75 01/31/27                                          | CUSIP: 168863DX3<br>LEI: 549300FLZTJM5YJF8D34 | Long             | DBT              | NUSS              | CL        |   1700000 | PA      | $1677815.00   | 0.10%             | 2027-01-31      | Fixed         | 2.75%                 | No            |                  2 | On Loan: No      |
| Broadcom Inc                                                                         | AVGO 3.187 11/15/36 144A                                     | CUSIP: 11135FBQ3<br>LEI: 549300WV6GIDOZJTV909 | Long             | DBT              | CORP              | US        |      7000 | PA      | $5853.07      | 0.00%             | 2036-11-15      | Fixed         | 3.19%                 | No            |                  2 | On Loan: No      |
| U.S. Bancorp.                                                                        | USB V5.836 06/12/34                                          | CUSIP: 91159HJN1<br>LEI: N1GZ7BBF3NP8GI976H15 | Long             | DBT              | CORP              | US        |   1150000 | PA      | $1200768.15   | 0.07%             | 2034-06-12      | Fixed         | 5.84%                 | No            |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corp.                                                     | FG A12543                                                    | CUSIP: 31296LZG9<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |      4123 | PA      | $4128.44      | 0.00%             | 2033-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Amazon.com, Inc.                                                                     | AMZN 4.875 03/13/36                                          | CUSIP: 023135DF0<br>LEI: ZXTILKJKG63JELOEG630 | Long             | DBT              | CORP              | US        |    610000 | PA      | $604676.28    | 0.03%             | 2036-03-13      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                             | GN 585479                                                    | CUSIP: 36201KM45<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |      6790 | PA      | $6990.55      | 0.00%             | 2032-08-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Micron Technology Inc.                                                               | MU 5.3 01/15/31                                              | CUSIP: 595112CD3<br>LEI: B3DXGBC8GAIYWI2Z0172 | Long             | DBT              | CORP              | US        |   2210000 | PA      | $2313997.76   | 0.13%             | 2031-01-15      | Fixed         | 5.30%                 | No            |                  2 | On Loan: No      |
| FEDERAL FARM CREDIT BANKS FUNDING CORP                                               | FR SD0573                                                    | CUSIP: 3132DMT62<br>LEI: 254900C5LP6DN9OP9V83 | Long             | ABS-MBS          | USGSE             | US        |   2081211 | PA      | $1719187.41   | 0.10%             | 2051-04-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| UBS AG LONDON BRANCH                                                                 | UBS 4.5 06/26/48                                             | CUSIP: 902674A26<br>LEI: N/A                  | Long             | DBT              | CORP              | GB        |    659000 | PA      | $550473.01    | 0.03%             | 2048-06-26      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| TENNESSEE GAS PIPELINE COMPANY LLC                                                   | KMI 2.9 03/01/30 144A                                        | CUSIP: 880451AZ2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1100000 | PA      | $1031015.96   | 0.06%             | 2030-03-01      | Fixed         | 2.90%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                             | G2 BS1757                                                    | CUSIP: 3617MB5S4<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    393370 | PA      | $372372.03    | 0.02%             | 2050-03-20      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                             | GN 780776                                                    | CUSIP: 36225A2H2<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |      9071 | PA      | $9190.52      | 0.00%             | 2028-04-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                                                | FNMA-30YR                                                    | CUSIP: 01F042640<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    500000 | PA      | $482620.02    | 0.03%             | 2056-04-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                                                | FN AI2433                                                    | CUSIP: 3138AFV31<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |      7228 | PA      | $7308.56      | 0.00%             | 2041-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corp.                                                     | FHS 390 C14                                                  | CUSIP: 31325YXR4<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   4292770 | PA      | $1062146.26   | 0.06%             | 2052-11-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Meta Platforms Inc                                                                   | META 4.6 11/15/32                                            | CUSIP: 30303MAC6<br>LEI: BQ4BKCS1HXDV9HN80Z93 | Long             | DBT              | CORP              | US        |   3360000 | PA      | $3328172.27   | 0.19%             | 2032-11-15      | Fixed         | 4.60%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                             | GNR 2017-28 IO                                               | CUSIP: 38379U6W1<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-O            | USGA              | US        |   5092364 | PA      | $174798.45    | 0.01%             | 2057-02-16      | Variable      | 0.65%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                             | GN 575453                                                    | CUSIP: 36200XH69<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |      6954 | PA      | $7158.55      | 0.00%             | 2031-12-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Corporacion Nacional del Cobre de Chile                                              | CDEL 5.529 01/30/37 144A                                     | CUSIP: 21987BBQ0<br>LEI: 549300UVMBCBCIPSUI70 | Long             | DBT              | CORP              | CL        |   3570000 | PA      | $3508667.40   | 0.20%             | 2037-01-30      | Fixed         | 5.53%                 | No            |                  2 | On Loan: No      |
| EOG Resources Inc.                                                                   | EOG 3.9 04/01/35                                             | CUSIP: 26875PAN1<br>LEI: XWTZDRYZPBUHIQBKDB46 | Long             | DBT              | CORP              | US        |    410000 | PA      | $377410.38    | 0.02%             | 2035-04-01      | Fixed         | 3.90%                 | No            |                  2 | On Loan: No      |
| TEXTAINER MARINE CONTAINERS VII LIM                                                  | TMCL 2024-1A A                                               | CUSIP: 88316AAA9<br>LEI: 549300X48KLHDDGPK024 | Long             | ABS-O            | CORP              | BM        |   4295417 | PA      | $4281896.42   | 0.24%             | 2049-08-20      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corp.                                                     | FHS 400 C1                                                   | CUSIP: 3142G4Z20<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   2602909 | PA      | $267052.04    | 0.02%             | 2052-02-25      | Fixed         | 1.50%                 | No            |                  2 | On Loan: No      |
| FEDERAL HOME LOAN MORTGAGE CORP                                                      | FHR 5148 BI                                                  | CUSIP: 3137H2UH5<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-O            | USGSE             | US        |  12589884 | PA      | $1856368.35   | 0.11%             | 2049-01-25      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| CSMC 2020-FACT                                                                       | CSMC 2020-FACT A                                             | CUSIP: 126395AA0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   6040000 | PA      | $5973073.18   | 0.34%             | 2037-10-15      | Floating      | 5.64%                 | No            |                  2 | On Loan: No      |
| Csmc                                                                                 | CSMC 2022-CNTR A                                             | CUSIP: 12665CAA2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   8764888 | PA      | $942225.44    | 0.05%             | 2025-01-09      | Floating      | 7.62%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                             | GNR 2018-37 QA                                               | CUSIP: 38380VXF3<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-O            | USGA              | US        |    910934 | PA      | $810798.02    | 0.05%             | 2048-03-20      | Fixed         | 2.75%                 | No            |                  2 | On Loan: No      |
| Comision Federal de Electricidad                                                     | CFELEC 3.875 07/26/33 144A                                   | CUSIP: 200447AK6<br>LEI: 4469000001BFPONMPF32 | Long             | DBT              | CORP              | MX        |   7325000 | PA      | $6277960.84   | 0.36%             | 2033-07-26      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                             | GN 561485                                                    | CUSIP: 36213QXN4<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |     12318 | PA      | $12683.63     | 0.00%             | 2031-06-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Mastr Reperforming Loan Trust 2005-2                                                 | MARP 2005-2 1A1F                                             | CUSIP: 57643QAE5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    288162 | PA      | $133590.92    | 0.01%             | 2035-05-25      | Floating      | 4.14%                 | No            |                  2 | On Loan: No      |
| GINNIE MAE (H) 23-85                                                                 | GNR 2023-80 IA                                               | CUSIP: 38384BPF2<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-O            | USGA              | US        |   3278370 | PA      | $592714.48    | 0.03%             | 2047-10-20      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                                                | FN CB6540                                                    | CUSIP: 3140QSHS3<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   8711939 | PA      | $8957099.45   | 0.51%             | 2053-06-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Oracle Corp.                                                                         | ORCL 2.95 04/01/30                                           | CUSIP: 68389XBV6<br>LEI: 1Z4GXXU7ZHVWFCD8TV52 | Long             | DBT              | CORP              | US        |    480000 | PA      | $438291.93    | 0.02%             | 2030-04-01      | Fixed         | 2.95%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                             | G2 BC4732                                                    | CUSIP: 3617B8HH4<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   1090361 | PA      | $1010084.58   | 0.06%             | 2047-10-20      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Oncor Electric Delivery Company LLC                                                  | ONCRTX 5.8 04/01/55                                          | CUSIP: 68233JDD3<br>LEI: 549300SP2X2BS1KERD24 | Long             | DBT              | CORP              | US        |    790000 | PA      | $782422.48    | 0.04%             | 2055-04-01      | Fixed         | 5.80%                 | No            |                  2 | On Loan: No      |
| BXMT 2026-FL6 LTD                                                                    | BXMT 2026-FL6 A                                              | CUSIP: 05620AAA4<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   3330000 | PA      | $3324076.60   | 0.19%             | 2043-08-19      | Variable      | 5.13%                 | No            |                  2 | On Loan: No      |
| Viper Energy Partners LLC                                                            | VNOM 5.7 08/01/35                                            | CUSIP: 92764MAB0<br>LEI: 54930010ZZ02MRGRI973 | Long             | DBT              | CORP              | US        |    930000 | PA      | $937816.65    | 0.05%             | 2035-08-01      | Fixed         | 5.70%                 | No            |                  2 | On Loan: No      |
| MasterCard Incorporated                                                              | MA 3.85 03/26/50                                             | CUSIP: 57636QAQ7<br>LEI: AR5L2ODV9HN37376R084 | Long             | DBT              | CORP              | US        |    580000 | PA      | $441513.74    | 0.03%             | 2050-03-26      | Fixed         | 3.85%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                             | GN 615506                                                    | CUSIP: 36290RYB3<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |        15 | PA      | $15.07        | 0.00%             | 2034-07-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                             | GN 639504                                                    | CUSIP: 36291VNV1<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |       301 | PA      | $310.74       | 0.00%             | 2035-02-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| BNP Paribas SA                                                                       | BNP V3.052 01/13/31 144A                                     | CUSIP: 09659W2K9<br>LEI: R0MUWSFPU8MPRO8K5P83 | Long             | DBT              | CORP              | FR        |   1720000 | PA      | $1614994.71   | 0.09%             | 2031-01-13      | Fixed         | 3.05%                 | No            |                  2 | On Loan: No      |
| Gulfstream Natural Gas System LLC                                                    | GULFNG 5.6 07/23/35 144A                                     | CUSIP: 402740AG9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2460000 | PA      | $2494666.98   | 0.14%             | 2035-07-23      | Fixed         | 5.60%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                             | G2-30YR-Multi                                                | CUSIP: 21H020642<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   6400000 | PA      | $5288499.97   | 0.30%             | 2056-04-15      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                             | GN BS8439                                                    | CUSIP: 3617MKLU1<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   1659068 | PA      | $1528476.34   | 0.09%             | 2050-05-15      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Boeing Co.                                                                           | BA 2.7 02/01/27                                              | CUSIP: 097023CM5<br>LEI: RVHJWBXLJ1RFUBSY1F30 | Long             | DBT              | CORP              | US        |   1958000 | PA      | $1931034.60   | 0.11%             | 2027-02-01      | Fixed         | 2.70%                 | No            |                  2 | On Loan: No      |
| JG WENTWORTH XXXIV LLC SERIES 2015-1                                                 | HENDR 2015-1A B                                              | CUSIP: 46618LAB6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    841196 | PA      | $736770.74    | 0.04%             | 2074-09-17      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                                                | FN AT3070                                                    | CUSIP: 3138WQMU3<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   1146819 | PA      | $1082923.21   | 0.06%             | 2043-04-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Thrust Engine Leasing 2021 Dac / Thrust Engine Leasing 2021 Statutory Trust          | THRST 2021-1A A                                              | CUSIP: 88603UAA7<br>LEI: 254900X0E0PUM0VQBP74 | Long             | ABS-O            | CORP              | IE        |   1843226 | PA      | $1824266.35   | 0.10%             | 2040-07-15      | Fixed         | 4.16%                 | No            |                  2 | On Loan: No      |
| Citigroup Inc.                                                                       | C 4.65 07/23/48                                              | CUSIP: 172967MD0<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |    995000 | PA      | $842689.16    | 0.05%             | 2048-07-23      | Fixed         | 4.65%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                             | GN AB9108                                                    | CUSIP: 36178WDM8<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   1218107 | PA      | $1113139.24   | 0.06%             | 2042-10-15      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| RWE Finance US LLC                                                                   | RWE 5.125 09/18/35 144A                                      | CUSIP: 749983AC6<br>LEI: 529900J7MYLKI84UP772 | Long             | DBT              | CORP              | US        |   2180000 | PA      | $2120462.59   | 0.12%             | 2035-09-18      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                             | GN 570463                                                    | CUSIP: 36200RWY4<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |      3451 | PA      | $3512.26      | 0.00%             | 2031-11-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Glencore Funding LLC                                                                 | GLENLN 4 03/27/27 144A                                       | CUSIP: 378272AN8<br>LEI: 213800STG1QDNBY87K49 | Long             | DBT              | CORP              | US        |      7000 | PA      | $6970.88      | 0.00%             | 2027-03-27      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corp.                                                     | FR QB8773                                                    | CUSIP: 3133AFXA4<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   1617238 | PA      | $1334120.29   | 0.08%             | 2051-02-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| Discovery Global Holdings Inc.                                                       | WBD 3.755 03/15/27 *                                         | CUSIP: 55903VBL6<br>LEI: 549300DXR29GD4N0A520 | Long             | DBT              | CORP              | US        |    471000 | PA      | $465484.59    | 0.03%             | 2027-03-15      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                             | GN 621331                                                    | CUSIP: 36290YHG6<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |     31684 | PA      | $32369.57     | 0.00%             | 2034-09-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| JP MORGAN CHASE COMMERCIAL MORTGAGE SECURITIES TRUST 2015-FL7                        | JPMCC 2015-FL7 D                                             | CUSIP: 46644PAG4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1631430 | PA      | $1431327.83   | 0.08%             | 2028-05-15      | Variable      | 7.44%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                             | GN 552756                                                    | CUSIP: 36213FBZ5<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |      3717 | PA      | $3831.21      | 0.00%             | 2032-09-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                                                | FN 948287                                                    | CUSIP: 31413K6Y2<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |       578 | PA      | $591.09       | 0.00%             | 2037-07-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Energy Transfer LP                                                                   | ET 3.75 05/15/30                                             | CUSIP: 29278NAQ6<br>LEI: MTLVN9N7JE8MIBIJ1H73 | Long             | DBT              | CORP              | US        |   1428000 | PA      | $1380860.06   | 0.08%             | 2030-05-15      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                             | GNR 2016-152 IO                                              | CUSIP: 38379UY67<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-O            | USGA              | US        |  10759591 | PA      | $483078.75    | 0.03%             | 2058-08-16      | Variable      | 0.77%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                             | GNR 2017-132 IA                                              | CUSIP: 38380GZN7<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-O            | USGA              | US        |    909061 | PA      | $161200.45    | 0.01%             | 2047-09-20      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                                                | FN AI1863                                                    | CUSIP: 3138AFB90<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |      5471 | PA      | $5532.49      | 0.00%             | 2041-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                             | G2 AV7468                                                    | CUSIP: 36195JJM0<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |     50049 | PA      | $45963.35     | 0.00%             | 2046-09-20      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                                                | FN FM2745                                                    | CUSIP: 3140X6BP5<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    801686 | PA      | $782031.15    | 0.04%             | 2050-03-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| The Cigna Group                                                                      | CI 4.8 08/15/38                                              | CUSIP: 125523AJ9<br>LEI: 549300VIWYMSIGT1U456 | Long             | DBT              | CORP              | US        |    520000 | PA      | $489169.02    | 0.03%             | 2038-08-15      | Fixed         | 4.80%                 | No            |                  2 | On Loan: No      |
| Alphabet Inc.                                                                        | GOOGL 4.5 05/15/35                                           | CUSIP: 02079KAL1<br>LEI: 5493006MHB84DD0ZWV18 | Long             | DBT              | CORP              | US        |    490000 | PA      | $482130.29    | 0.03%             | 2035-05-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                             | GN 465984                                                    | CUSIP: 36209AUH1<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |       366 | PA      | $368.02       | 0.00%             | 2028-03-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                                                | FN BN3898                                                    | CUSIP: 3140JLKL7<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     37021 | PA      | $36372.27     | 0.00%             | 2048-12-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                             | GNR 2017-50 IO                                               | CUSIP: 38379RVF7<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-O            | USGA              | US        |  11147670 | PA      | $354523.77    | 0.02%             | 2057-01-16      | Variable      | 0.59%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                             | GN 638195                                                    | CUSIP: 36291T7G7<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |     31204 | PA      | $31501.15     | 0.00%             | 2034-12-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Bluemountain CLO XXX Ltd/Bluemountain CLO XXX LLC                                    | BLUEM 2020-30A AR2                                           | CUSIP: 09630QAU5<br>LEI: 5493002GUQ80FGGGNP40 | Long             | ABS-CBDO         | CORP              | KY        |   3270000 | PA      | $3270870.47   | 0.19%             | 2035-04-16      | Floating      | 4.82%                 | No            |                  2 | On Loan: No      |
| SPECTRUM MANAGEMENT HOLDING COMPANY LLC                                              | CHTR 5.5 09/01/41                                            | CUSIP: 88732JBB3<br>LEI: B1WXCWLJVJXMWJX6O298 | Long             | DBT              | CORP              | US        |     18000 | PA      | $15528.28     | 0.00%             | 2041-09-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Pacific Gas and Electric Company                                                     | PCG 3.3 08/01/40                                             | CUSIP: 694308JH1<br>LEI: 1HNPXZSMMB7HMBMVBS46 | Long             | DBT              | CORP              | US        |    830000 | PA      | $621246.52    | 0.04%             | 2040-08-01      | Fixed         | 3.30%                 | No            |                  2 | On Loan: No      |
| Amazon.com, Inc.                                                                     | AMZN 5.65 03/13/46                                           | CUSIP: 023135DG8<br>LEI: ZXTILKJKG63JELOEG630 | Long             | DBT              | CORP              | US        |    630000 | PA      | $628192.88    | 0.04%             | 2046-03-13      | Fixed         | 5.65%                 | No            |                  2 | On Loan: No      |
| Wells Fargo & Co.                                                                    | WFC V5.013 04/04/51 MTN                                      | CUSIP: 95000U2M4<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | DBT              | CORP              | US        |   7750000 | PA      | $6833809.42   | 0.39%             | 2051-04-04      | Fixed         | 5.01%                 | No            |                  2 | On Loan: No      |
| CRSO TRUST 2023-BRND                                                                 | CRSO TRUST 2023-BRND 7.1207% MTG BDS 10/07/28 USD1000 A 144A | CUSIP: 228925AA1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   2130000 | PA      | $2196445.35   | 0.12%             | 2040-07-12      | Variable      | 6.89%                 | No            |                  2 | On Loan: No      |
| Citigroup Inc.                                                                       | C V2.561 05/01/32                                            | CUSIP: 172967MY4<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |   3710000 | PA      | $3320088.39   | 0.19%             | 2032-05-01      | Fixed         | 2.56%                 | No            |                  2 | On Loan: No      |
| Philip Morris International Inc.                                                     | PM 5.125 02/13/31                                            | CUSIP: 718172DH9<br>LEI: HL3H1H2BGXWVG3BSWR90 | Long             | DBT              | CORP              | US        |    910000 | PA      | $931465.64    | 0.05%             | 2031-02-13      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                             | GN 781690                                                    | CUSIP: 36225B2X5<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |      5744 | PA      | $5939.66      | 0.00%             | 2033-12-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                                                | FN BR1001                                                    | CUSIP: 3140KYDF8<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    924434 | PA      | $796857.06    | 0.05%             | 2051-05-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| Micron Technology Inc.                                                               | MU 5.875 02/09/33                                            | CUSIP: 595112BZ5<br>LEI: B3DXGBC8GAIYWI2Z0172 | Long             | DBT              | CORP              | US        |    150000 | PA      | $160486.84    | 0.01%             | 2033-02-09      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corp.                                                     | FR WN4101                                                    | CUSIP: 3132XJRX0<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   1400000 | PA      | $1394790.33   | 0.08%             | 2035-03-01      | Fixed         | 4.60%                 | No            |                  2 | On Loan: No      |
| Las Vegas Sands Corp                                                                 | LVS 6 06/14/30                                               | CUSIP: 517834AN7<br>LEI: 549300DUOO1KXOHPM605 | Long             | DBT              | CORP              | US        |    530000 | PA      | $545392.69    | 0.03%             | 2030-06-14      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Comcast Corporation                                                                  | CMCSA 3.9 03/01/38                                           | CUSIP: 20030NCJ8<br>LEI: 51M0QTTNCGUN7KFCFZ59 | Long             | DBT              | CORP              | US        |   1780000 | PA      | $1529605.83   | 0.09%             | 2038-03-01      | Fixed         | 3.90%                 | No            |                  2 | On Loan: No      |
| GOVERNMENT NATIONAL MORTGAGE ASSOCIATION I MORTGAGE-BACKED SECURITIES                | GN 605463                                                    | CUSIP: 36200NTU5<br>LEI: N/A                  | Long             | ABS-MBS          | USGA              | US        |      1387 | PA      | $1442.42      | 0.00%             | 2034-06-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                             | G2 784825                                                    | CUSIP: 3622AAHA5<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    516236 | PA      | $474079.80    | 0.03%             | 2049-10-20      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| CHICAGO MERCANTILE EXCHANGE INC.                                                     | IRS USD                                                      | CUSIP: 000000000<br>LEI: SNZ2OJLFK8MNNCLQOF39 | N/A              | DIR              | CORP              | US        |         1 | NC      | $1791740.69   | 0.10%             |  |  |  | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                                                | FN BD8001                                                    | CUSIP: 3140FF3K5<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    360889 | PA      | $326182.98    | 0.02%             | 2046-09-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| FEDERAL HOME LOAN MORTGAGE CORP                                                      | FR SD5416                                                    | CUSIP: 3132DTAR1<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   2882753 | PA      | $2945200.37   | 0.17%             | 2054-04-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Boeing Co.                                                                           | BA 3.75 02/01/50                                             | CUSIP: 097023CQ6<br>LEI: RVHJWBXLJ1RFUBSY1F30 | Long             | DBT              | CORP              | US        |    700000 | PA      | $496898.96    | 0.03%             | 2050-02-01      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| Verizon Communications Inc.                                                          | VZ 3.4 03/22/41                                              | CUSIP: 92343VGK4<br>LEI: 2S72QS2UO2OESLG6Y829 | Long             | DBT              | CORP              | US        |   1400000 | PA      | $1075640.54   | 0.06%             | 2041-03-22      | Fixed         | 3.40%                 | No            |                  2 | On Loan: No      |
| VLS COMMERCIAL MORTGAGE TRUST 2020-LAB                                               | VLS 2020-LAB B                                               | CUSIP: 92858TAC0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   2090000 | PA      | $1711520.23   | 0.10%             | 2042-10-10      | Fixed         | 2.45%                 | No            |                  2 | On Loan: No      |
| Boeing Co.                                                                           | BA 3.1 05/01/26                                              | CUSIP: 097023CH6<br>LEI: RVHJWBXLJ1RFUBSY1F30 | Long             | DBT              | CORP              | US        |    869000 | PA      | $867878.65    | 0.05%             | 2026-05-01      | Fixed         | 3.10%                 | No            |                  2 | On Loan: No      |
| PT Pertamina (Persero)                                                               | PERTIJ 6 05/03/42 144A                                       | CUSIP: 69369EAD1<br>LEI: 254900NDAKGNZ2IBBL45 | Long             | DBT              | CORP              | ID        |   2714000 | PA      | $2619137.91   | 0.15%             | 2042-05-03      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Home Depot Inc.                                                                      | HD 3.3 04/15/40                                              | CUSIP: 437076CC4<br>LEI: QEKMOTMBBKA8I816DO57 | Long             | DBT              | CORP              | US        |    910000 | PA      | $727658.62    | 0.04%             | 2040-04-15      | Fixed         | 3.30%                 | No            |                  2 | On Loan: No      |
| ILFC E-Capital Trust II                                                              | ILFC E-Capital Trust II                                      | CUSIP: 44965UAA2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1623000 | PA      | $1417912.53   | 0.08%             | 2065-12-21      | Floating      | 6.63%                 | No            |                  2 | On Loan: No      |
| CVS Health Corp                                                                      | CVS 3.75 04/01/30                                            | CUSIP: 126650DJ6<br>LEI: 549300EJG376EN5NQE29 | Long             | DBT              | CORP              | US        |   3930000 | PA      | $3798568.73   | 0.22%             | 2030-04-01      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| UnitedHealth Group Inc.                                                              | UNH 5.8 03/15/36                                             | CUSIP: 91324PAR3<br>LEI: 549300GHBMY8T5GXDE41 | Long             | DBT              | CORP              | US        |    582000 | PA      | $608737.56    | 0.03%             | 2036-03-15      | Fixed         | 5.80%                 | No            |                  2 | On Loan: No      |
| FEDERAL HOME LN MTG CORP MULTICLASS MTG PARTN CTFS GTD                               | FHR 5482 FC                                                  | CUSIP: 3137HHLW9<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-O            | USGSE             | US        |   1762897 | PA      | $1774604.52   | 0.10%             | 2054-12-25      | Floating      | 4.96%                 | No            |                  2 | On Loan: No      |
| CIM TRUST 2024-R1                                                                    | CIM 2024-R1 A1                                               | CUSIP: 17179VAA8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   4558711 | PA      | $4486378.57   | 0.25%             | 2064-06-25      | Variable      | 4.75%                 | No            |                  2 | On Loan: No      |
| Amazon.com, Inc.                                                                     | AMZN 3.875 08/22/37                                          | CUSIP: 023135BF2<br>LEI: ZXTILKJKG63JELOEG630 | Long             | DBT              | CORP              | US        |   1185000 | PA      | $1067045.60   | 0.06%             | 2037-08-22      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| Verizon Communications Inc.                                                          | VZ 3.875 02/08/29                                            | CUSIP: 92343VES9<br>LEI: 2S72QS2UO2OESLG6Y829 | Long             | DBT              | CORP              | US        |    578000 | PA      | $572585.89    | 0.03%             | 2029-02-08      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                                                | FN 624329                                                    | CUSIP: 31389FSS2<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |      1206 | PA      | $1247.07      | 0.00%             | 2032-02-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                                                | FN 745257                                                    | CUSIP: 31403C5S6<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |      2981 | PA      | $3128.44      | 0.00%             | 2036-01-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corp.                                                     | FR SC0269                                                    | CUSIP: 3132D9JN5<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    638217 | PA      | $558383.99    | 0.03%             | 2042-01-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                             | GN 603674                                                    | CUSIP: 36200KT72<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |      3742 | PA      | $3815.69      | 0.00%             | 2033-05-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Fnma Pass-Thru I                                                                     | FN BZ5402                                                    | CUSIP: 3140Q1AC4<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    900000 | PA      | $882485.18    | 0.05%             | 2035-12-01      | Fixed         | 4.36%                 | No            |                  2 | On Loan: No      |
| General Dynamics Corporation                                                         | GD 4.25 04/01/40                                             | CUSIP: 369550BH0<br>LEI: 9C1X8XOOTYY2FNYTVH06 | Long             | DBT              | CORP              | US        |    480000 | PA      | $431310.68    | 0.02%             | 2040-04-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                                                | FN 813957                                                    | CUSIP: 31406MJA5<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |       645 | PA      | $665.08       | 0.00%             | 2035-05-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| UBS Group AG                                                                         | UBS V2.746 02/11/33 144A                                     | CUSIP: 902613AK4<br>LEI: 549300SZJ9VS8SGXAN81 | Long             | DBT              | CORP              | CH        |   2170000 | PA      | $1919877.45   | 0.11%             | 2033-02-11      | Fixed         | 2.75%                 | No            |                  2 | On Loan: No      |
| HSBC Holdings PLC                                                                    | HSBC V4.041 03/13/28                                         | CUSIP: 404280BK4<br>LEI: MLU0ZO3ML4LN2LL2TL39 | Long             | DBT              | CORP              | GB        |    741000 | PA      | $737685.74    | 0.04%             | 2028-03-13      | Fixed         | 4.04%                 | No            |                  2 | On Loan: No      |
| Oracle Corp.                                                                         | ORCL 5.7 02/04/36                                            | CUSIP: 68389XDZ5<br>LEI: 1Z4GXXU7ZHVWFCD8TV52 | Long             | DBT              | CORP              | US        |    330000 | PA      | $317434.16    | 0.02%             | 2036-02-04      | Fixed         | 5.70%                 | No            |                  2 | On Loan: No      |
| Reynolds American Inc.                                                               | BATSLN 5.85 08/15/45                                         | CUSIP: 761713BB1<br>LEI: 02S2RPPVO9RP4NEU2740 | Long             | DBT              | CORP              | US        |    910000 | PA      | $881867.02    | 0.05%             | 2045-08-15      | Fixed         | 5.85%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                                                | FN FS1237                                                    | CUSIP: 3140XGLT4<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    727397 | PA      | $679544.10    | 0.04%             | 2051-12-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                             | GN 510086                                                    | CUSIP: 36211DUK4<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |      3935 | PA      | $3988.45      | 0.00%             | 2029-07-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                                                | FN 824324                                                    | CUSIP: 31406YYV6<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |       125 | PA      | $130.16       | 0.00%             | 2035-06-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corp.                                                     | FR SC0310                                                    | CUSIP: 3132D9KX1<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    822794 | PA      | $718305.17    | 0.04%             | 2042-08-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| Eaton Corp.                                                                          | ETN 4.8 03/06/36                                             | CUSIP: 278058DZ2<br>LEI: 0NZWDMRCE180888QQE14 | Long             | DBT              | CORP              | US        |    250000 | PA      | $246919.53    | 0.01%             | 2036-03-06      | Fixed         | 4.80%                 | No            |                  2 | On Loan: No      |
| NRG Energy, Inc.                                                                     | NRG 5.407 10/15/35 144A                                      | CUSIP: 629377DB5<br>LEI: 5E2UPK5SW04M13XY7I38 | Long             | DBT              | CORP              | US        |    800000 | PA      | $785231.82    | 0.04%             | 2035-10-15      | Fixed         | 5.41%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                                                | FN AS4363                                                    | CUSIP: 3138WDZ53<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    442953 | PA      | $438611.23    | 0.02%             | 2045-02-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                             | GN 605524                                                    | CUSIP: 36200NVR9<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |       217 | PA      | $222.87       | 0.00%             | 2034-10-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                                                | FN BD6249                                                    | CUSIP: 3140FD5K8<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    548274 | PA      | $495668.25    | 0.03%             | 2046-11-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Caixabank S.A.                                                                       | CABKSM V4.885 07/03/31 144A                                  | CUSIP: 12803RAL8<br>LEI: 7CUNS533WID6K7DGFI87 | Long             | DBT              | CORP              | ES        |   2290000 | PA      | $2293528.43   | 0.13%             | 2031-07-03      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| JPMorgan Chase & Co.                                                                 | JPM 4.25 10/01/27                                            | CUSIP: 46625HNJ5<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | DBT              | CORP              | US        |   1047000 | PA      | $1047829.83   | 0.06%             | 2027-10-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                             | GN 600028                                                    | CUSIP: 36200FSR0<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |      3835 | PA      | $3949.09      | 0.00%             | 2033-04-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                                                | FN MA2672                                                    | CUSIP: 31418B6J0<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   2684589 | PA      | $2554022.81   | 0.14%             | 2036-07-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Oracle Corp.                                                                         | ORCL 4.95 02/04/31                                           | CUSIP: 68389XDX0<br>LEI: 1Z4GXXU7ZHVWFCD8TV52 | Long             | DBT              | CORP              | US        |     20000 | PA      | $19575.61     | 0.00%             | 2031-02-04      | Fixed         | 4.95%                 | No            |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corp.                                                     | FR QB9484                                                    | CUSIP: 3133AGRD3<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   1218548 | PA      | $1003173.39   | 0.06%             | 2051-03-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| GOVERNMENT NATIONAL MORTGAGE ASSOCIATION II MORTGAGE-BACKED SECURITIES               | GNR 2014-47 IA                                               | CUSIP: 38378NK51<br>LEI: N/A                  | Long             | ABS-O            | USGA              | US        |    502080 | PA      | $1979.90      | 0.00%             | 2048-02-16      | Variable      | 0.17%                 | No            |                  2 | On Loan: No      |
| Energy Transfer LP                                                                   | ET 5.55 05/15/34                                             | CUSIP: 29273VAY6<br>LEI: MTLVN9N7JE8MIBIJ1H73 | Long             | DBT              | CORP              | US        |   1780000 | PA      | $1813135.52   | 0.10%             | 2034-05-15      | Fixed         | 5.55%                 | No            |                  2 | On Loan: No      |
| FirstEnergy Corp.                                                                    | FE 3.9 07/15/27 B                                            | CUSIP: 337932AH0<br>LEI: 549300SVYJS666PQJH88 | Long             | DBT              | CORP              | US        |   5232000 | PA      | $5190683.68   | 0.29%             | 2027-07-15      | Fixed         | 3.90%                 | No            |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corp.                                                     | FR QG7311                                                    | CUSIP: 3133C8DQ5<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   1941138 | PA      | $1960549.68   | 0.11%             | 2053-07-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Charter Communications Operating, LLC/Charter Communications Operating Capital Corp. | CHTR 4.2 03/15/28                                            | CUSIP: 161175BK9<br>LEI: 549300TPZNMN50BJ3745 | Long             | DBT              | CORP              | US        |   1716000 | PA      | $1701639.77   | 0.10%             | 2028-03-15      | Fixed         | 4.20%                 | No            |                  2 | On Loan: No      |
| AT&T Inc                                                                             | T 5.35 09/01/40                                              | CUSIP: 04650NAB0<br>LEI: 549300Z40J86GGSTL398 | Long             | DBT              | CORP              | US        |    640000 | PA      | $616843.37    | 0.03%             | 2040-09-01      | Fixed         | 5.35%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                             | GN 596691                                                    | CUSIP: 36200B2Y2<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |     13034 | PA      | $13286.42     | 0.00%             | 2032-11-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| MetLife Inc.                                                                         | MET 6.4 12/15/36                                             | CUSIP: 59156RAP3<br>LEI: C4BXATY60WC6XEOZDX54 | Long             | DBT              | CORP              | US        |   1745000 | PA      | $1782339.51   | 0.10%             | 2036-12-15      | Fixed         | 6.40%                 | No            |                  2 | On Loan: No      |
| FEDERAL NATIONAL MORTGAGE ASSOCIATION                                                | FR RA6562                                                    | CUSIP: 3133KNJF1<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   5845522 | PA      | $5056212.16   | 0.29%             | 2052-01-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| Amrize Finance US LLC                                                                | AMRZ 4.95 04/07/30                                           | CUSIP: 43475RAR7<br>LEI: 529900FB2F1WKLFNGY62 | Long             | DBT              | CORP              | US        |    290000 | PA      | $293301.54    | 0.02%             | 2030-04-07      | Fixed         | 4.95%                 | No            |                  2 | On Loan: No      |
| Occidental Petroleum Corp.                                                           | OXY 3 02/15/27                                               | CUSIP: 674599CM5<br>LEI: IM7X0T3ECJW4C1T7ON55 | Long             | DBT              | CORP              | US        |   1417000 | PA      | $1400478.49   | 0.08%             | 2027-02-15      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| STWD 2022-FL3 LTD                                                                    | STWD 2022-FL3 A                                              | CUSIP: 78485KAA3<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    502222 | PA      | $501602.42    | 0.03%             | 2038-11-18      | Floating      | 5.02%                 | No            |                  2 | On Loan: No      |
| Areit 2022-Cre7 LLC                                                                  | AREIT 2022-CRE7 A                                            | CUSIP: 00217VAA8<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   4437334 | PA      | $4439354.24   | 0.25%             | 2039-06-17      | Floating      | 5.92%                 | No            |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corp.                                                     | FR SC0206                                                    | CUSIP: 3132D9GP3<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   2793599 | PA      | $2435395.67   | 0.14%             | 2041-11-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                                                | FN FM3542                                                    | CUSIP: 3140X65C1<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    524502 | PA      | $503150.39    | 0.03%             | 2049-05-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| GE Vernova Inc.                                                                      | GEV 4.875 02/04/36                                           | CUSIP: 36828AAB7<br>LEI: 254900DP080RU6OK2553 | Long             | DBT              | CORP              | US        |    690000 | PA      | $684131.64    | 0.04%             | 2036-02-04      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corp.                                                     | FHR 5129 KI                                                  | CUSIP: 3137H1PP5<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-O            | USGSE             | US        |   1416079 | PA      | $228872.92    | 0.01%             | 2049-11-25      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| WEA Finance LLC / Westfield UK & Europe Finance PLC                                  | URWFP 4.75 09/17/44 144A                                     | CUSIP: 92890HAD4<br>LEI: 3CYEJKBUJZO3UW777J80 | Long             | DBT              | CORP              | US        |    403000 | PA      | $337442.27    | 0.02%             | 2044-09-17      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                             | GNR 2021-218 IO                                              | CUSIP: 38381EKC1<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-O            | USGA              | US        |   2642326 | PA      | $189724.32    | 0.01%             | 2061-10-16      | Variable      | 0.97%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                                                | FN BE1645                                                    | CUSIP: 3140FLZK7<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     90019 | PA      | $81296.36     | 0.00%             | 2046-11-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| CSAIL 2019-C15 COMMERCIAL MORTGAGE TRUST                                             | CSAIL 2019-C15 A4                                            | CUSIP: 22945DAG8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   5333000 | PA      | $5261858.85   | 0.30%             | 2052-03-15      | Fixed         | 4.05%                 | No            |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corp.                                                     | FG A34591                                                    | CUSIP: 31297QC49<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     71816 | PA      | $73537.05     | 0.00%             | 2035-04-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Truist Bank (North Carolina)                                                         | TFC V4.632 09/17/29 BKNT                                     | CUSIP: 07330MAC1<br>LEI: JJKC32MCHWDI71265Z06 | Long             | DBT              | CORP              | US        |   1500000 | PA      | $1488026.91   | 0.08%             | 2029-09-17      | Floating      | 4.63%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                                                | FN BM3724                                                    | CUSIP: 3140J8D67<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     41862 | PA      | $39205.86     | 0.00%             | 2048-03-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                             | GNR 2017-53 IO                                               | CUSIP: 38379RRT2<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-O            | USGA              | US        |  26289423 | PA      | $696919.47    | 0.04%             | 2056-11-16      | Variable      | 0.51%                 | No            |                  2 | On Loan: No      |
| GOVERNMENT NATIONAL MORTGAGE ASSOCIATION                                             | GNR 2021-9 MI                                                | CUSIP: 38382MF61<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-O            | USGSE             | US        |  25979168 | PA      | $3789659.18   | 0.21%             | 2051-01-20      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| FEDERAL HOME LOAN BANKS                                                              | FR SD7265                                                    | CUSIP: 3132DVCA1<br>LEI: 2549001DPIFGXC1TOL40 | Long             | ABS-MBS          | USGSE             | US        |    380729 | PA      | $395410.91    | 0.02%             | 2054-10-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| BNP Paribas SA                                                                       | BNP V5.894 12/05/34 144A                                     | CUSIP: 05581KAG6<br>LEI: R0MUWSFPU8MPRO8K5P83 | Long             | DBT              | CORP              | FR        |   3630000 | PA      | $3799117.16   | 0.22%             | 2034-12-05      | Fixed         | 5.89%                 | No            |                  2 | On Loan: No      |
| McDonald's Corp.                                                                     | MCD 3.6 07/01/30 MTN                                         | CUSIP: 58013MFQ2<br>LEI: UE2136O97NLB5BYP9H04 | Long             | DBT              | CORP              | US        |     30000 | PA      | $29160.24     | 0.00%             | 2030-07-01      | Fixed         | 3.60%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                                                | FNS 427 C21                                                  | CUSIP: 31423XMX6<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |  20480011 | PA      | $2555573.77   | 0.14%             | 2050-03-25      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| GOVERNMENT NATIONAL MORTGAGE ASSOCIATION I MORTGAGE-BACKED SECURITIES                | GN 562385                                                    | CUSIP: 36213RXN2<br>LEI: N/A                  | Long             | ABS-MBS          | USGA              | US        |        82 | PA      | $83.86        | 0.00%             | 2034-08-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                             | GN 553192                                                    | CUSIP: 36213FRM7<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |     31333 | PA      | $31833.11     | 0.00%             | 2033-04-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Southern Natural Gas Co LLC                                                          | SONGAS 8 03/01/32                                            | CUSIP: 843452AZ6<br>LEI: 254900KDLS1X42SY7037 | Long             | DBT              | CORP              | US        |   1265000 | PA      | $1446152.93   | 0.08%             | 2032-03-01      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| Lowes Companies, Inc.                                                                | LOW 4.5 04/15/30                                             | CUSIP: 548661DU8<br>LEI: WAFCR4OKGSC504WU3E95 | Long             | DBT              | CORP              | US        |    530000 | PA      | $530710.56    | 0.03%             | 2030-04-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                                                | FN BF0035                                                    | CUSIP: 3140FXBD3<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     86824 | PA      | $81562.55     | 0.00%             | 2055-04-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Foundry JV Holdco LLC.                                                               | FABSJV 5.9 01/25/30                                          | CUSIP: 350930AB9<br>LEI: 21380048QROAMGM6EP30 | Long             | DBT              | CORP              | US        |   3180000 | PA      | $3292618.94   | 0.19%             | 2030-01-25      | Fixed         | 5.90%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                             | GN 532785                                                    | CUSIP: 36212F2S2<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |      4799 | PA      | $4901.70      | 0.00%             | 2034-02-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| GOVERNMENT NATIONAL MORTGAGE ASSOCIATION II MORTGAGE-BACKED SECURITIES               | GNR 2014-50 IO                                               | CUSIP: 38378NF99<br>LEI: N/A                  | Long             | ABS-O            | USGA              | US        |   2683904 | PA      | $61254.75     | 0.00%             | 2055-09-16      | Variable      | 0.59%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                             | G2 BS1728                                                    | CUSIP: 3617MB4M8<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    547438 | PA      | $508083.95    | 0.03%             | 2050-01-20      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Verizon Communications Inc.                                                          | VZ 4.78 02/15/35                                             | CUSIP: 92343VGY4<br>LEI: 2S72QS2UO2OESLG6Y829 | Long             | DBT              | CORP              | US        |   2711000 | PA      | $2624902.41   | 0.15%             | 2035-02-15      | Fixed         | 4.78%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                             | G2 BT0812                                                    | CUSIP: 3617MN3V3<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   5363113 | PA      | $4737813.80   | 0.27%             | 2050-03-20      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Lockheed Martin Corporation                                                          | LMT 4.15 06/15/53                                            | CUSIP: 539830BS7<br>LEI: DPRBOZP0K5RM2YE8UU08 | Long             | DBT              | CORP              | US        |   2200000 | PA      | $1738206.58   | 0.10%             | 2053-06-15      | Fixed         | 4.15%                 | No            |                  2 | On Loan: No      |
| Southern California Edison Company                                                   | EIX 4.125 03/01/48 C                                         | CUSIP: 842400GK3<br>LEI: 9R1Z5I36FERIBVKW4P77 | Long             | DBT              | CORP              | US        |   1270000 | PA      | $951500.51    | 0.05%             | 2048-03-01      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| Suzano Netherlands BV                                                                | SUZANO 5.5 01/15/36                                          | CUSIP: 86960YAA0<br>LEI: 9845009ZB9F5D6DB3602 | Long             | DBT              | CORP              | NL        |    950000 | PA      | $919718.75    | 0.05%             | 2036-01-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corp.                                                     | FR SD5094                                                    | CUSIP: 3132DSUT7<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   2398601 | PA      | $2442325.90   | 0.14%             | 2053-08-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                                                | FNMA-30YR                                                    | CUSIP: 01F050643<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |  12800000 | PA      | $12625421.06  | 0.71%             | 2056-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Bank of America Corp.                                                                | BAC V2.972 02/04/33 MTN                                      | CUSIP: 06051GKK4<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |    650000 | PA      | $588561.58    | 0.03%             | 2033-02-04      | Fixed         | 2.97%                 | No            |                  2 | On Loan: No      |
| Comcast Corporation                                                                  | CMCSA 3.75 04/01/40                                          | CUSIP: 20030NDH1<br>LEI: 51M0QTTNCGUN7KFCFZ59 | Long             | DBT              | CORP              | US        |   1780000 | PA      | $1444070.92   | 0.08%             | 2040-04-01      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| RTX Corp.                                                                            | RTX 6 03/15/31                                               | CUSIP: 75513ECV1<br>LEI: I07WOS4YJ0N7YRFE7309 | Long             | DBT              | CORP              | US        |   1890000 | PA      | $2009634.71   | 0.11%             | 2031-03-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| FRETE 2020-ML07 TRUST                                                                | OT FEDMFH 10/25/2036                                         | CUSIP: 35833FAC9<br>LEI: N/A                  | Long             | DBT              | USGSE             | US        |  16208275 | PA      | $1918087.27   | 0.11%             | 2036-10-25      | Variable      | 1.97%                 | No            |                  2 | On Loan: No      |
| NJ TRUST 2023-GSP                                                                    | NJ 2023-GSP A                                                | CUSIP: 65486XAA1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   3030000 | PA      | $3142691.15   | 0.18%             | 2029-01-06      | Variable      | 6.48%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                             | GNR 2017-H11 IO                                              | CUSIP: 38376R4Q6<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-O            | USGA              | US        |   5672447 | PA      | $179102.41    | 0.01%             | 2067-05-20      | Variable      | 2.25%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                             | GN 640932                                                    | CUSIP: 36291XA90<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |      1115 | PA      | $1144.27      | 0.00%             | 2035-05-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corp.                                                     | FR SD3642                                                    | CUSIP: 3132E0BK7<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   3974112 | PA      | $4132094.32   | 0.23%             | 2053-09-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corp.                                                     | FG A12544                                                    | CUSIP: 31296LZH7<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     18511 | PA      | $18572.55     | 0.00%             | 2033-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| EQT Corporation                                                                      | EQT 7 02/01/30                                               | CUSIP: 26884LAG4<br>LEI: 4NT01YGM4X7ZX86ISY52 | Long             | DBT              | CORP              | US        |   2160000 | PA      | $2311674.85   | 0.13%             | 2030-02-01      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                             | GN 599841                                                    | CUSIP: 36200FLW6<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |      4239 | PA      | $4278.87      | 0.00%             | 2033-02-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                             | GNR 2014-186 IO                                              | CUSIP: 38378XW72<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-O            | USGA              | US        |   3081924 | PA      | $21443.72     | 0.00%             | 2054-08-16      | Variable      | 0.38%                 | No            |                  2 | On Loan: No      |
| LEGACY MORTGAGE ASSET TRUST 2021-GS1                                                 | LMAT 2021-GS1 A1                                             | CUSIP: 52474JAA4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |  11013679 | PA      | $11026479.24  | 0.62%             | 2066-10-25      | Variable      | 5.89%                 | No            |                  2 | On Loan: No      |
| Verizon Communications Inc.                                                          | VZ 4.5 08/10/33                                              | CUSIP: 92343VEA8<br>LEI: 2S72QS2UO2OESLG6Y829 | Long             | DBT              | CORP              | US        |   1718000 | PA      | $1667107.57   | 0.09%             | 2033-08-10      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                             | GN 434306                                                    | CUSIP: 36207KNX4<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |      6104 | PA      | $6182.86      | 0.00%             | 2029-04-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| FREDDIE MAC STACR REMIC TRUST 2022-DNA3                                              | STACR 2022-DNA3 M1B                                          | CUSIP: 35564KUX5<br>LEI: 5493000IS4M3TZMRB410 | Long             | ABS-O            | USGSE             | US        |   8635625 | PA      | $8794463.50   | 0.50%             | 2042-04-25      | Floating      | 6.56%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                                                | FNR 2024-22 IC                                               | CUSIP: 3136BRH67<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-O            | USGSE             | US        |  10393089 | PA      | $1407358.35   | 0.08%             | 2051-10-25      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| Point Au Roche Park Clo Ltd.                                                         | PARPK 2021-1A AR                                             | CUSIP: 73052VAN5<br>LEI: 5493000RMLD359CPH591 | Long             | ABS-CBDO         | CORP              | KY        |   3520000 | PA      | $3508560.70   | 0.20%             | 2039-01-20      | Floating      | 4.83%                 | No            |                  2 | On Loan: No      |
| AT&T Inc                                                                             | T 5.375 08/15/35                                             | CUSIP: 00206RMY5<br>LEI: 549300Z40J86GGSTL398 | Long             | DBT              | CORP              | US        |     60000 | PA      | $60800.94     | 0.00%             | 2035-08-15      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| EL PASO NATURAL GAS CO                                                               | KMI 8.375 06/15/32 *                                         | CUSIP: 283695BK9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1036000 | PA      | $1215387.68   | 0.07%             | 2032-06-15      | Fixed         | 8.38%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                                                | FN FM7910                                                    | CUSIP: 3140XBYG9<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   4523762 | PA      | $3909686.41   | 0.22%             | 2051-07-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                                                | FN 843997                                                    | CUSIP: 31407XUW9<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     75368 | PA      | $76787.20     | 0.00%             | 2035-11-01      | Variable      | 5.75%                 | No            |                  2 | On Loan: No      |
| T-Mobile USA, Inc.                                                                   | TMUS 3.875 04/15/30                                          | CUSIP: 87264ABF1<br>LEI: 549300V2JRLO5DIFGE82 | Long             | DBT              | CORP              | US        |   4180000 | PA      | $4071914.48   | 0.23%             | 2030-04-15      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| AbbVie Inc.                                                                          | ABBV 3.2 11/21/29                                            | CUSIP: 00287YBX6<br>LEI: FR5LCKFTG8054YNNRU85 | Long             | DBT              | CORP              | US        |   4370000 | PA      | $4213680.51   | 0.24%             | 2029-11-21      | Fixed         | 3.20%                 | No            |                  2 | On Loan: No      |
| Indymac Indx Mortgage Loan Trust 2004-Ar14                                           | INDX 2005-AR15 A2                                            | CUSIP: 45660LVM8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      9915 | PA      | $8056.29      | 0.00%             | 2035-09-25      | Variable      | 3.84%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                                                | FN FS2023                                                    | CUSIP: 3140XHG92<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   7944047 | PA      | $7574675.73   | 0.43%             | 2052-05-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| COLLEGE AVE STUDENT LOANS 2021-C LL                                                  | CASL 2021-C C                                                | CUSIP: 19424WAD9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   2065074 | PA      | $1937026.51   | 0.11%             | 2055-07-26      | Fixed         | 3.06%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                                                | FN FM6418                                                    | CUSIP: 3140XADY5<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   1132733 | PA      | $937455.99    | 0.05%             | 2051-03-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                             | GN 626166                                                    | CUSIP: 36291ETX9<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |       847 | PA      | $855.29       | 0.00%             | 2034-08-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Abbott Laboratories                                                                  | ABT 4 03/15/31                                               | CUSIP: 002824BS8<br>LEI: HQD377W2YR662HK5JX27 | Long             | DBT              | CORP              | US        |    510000 | PA      | $502032.16    | 0.03%             | 2031-03-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Royal Bank of Canada                                                                 | RY 3.875 05/04/32                                            | CUSIP: 78016FZQ0<br>LEI: ES7IP3U3RHIGC71XBU11 | Long             | DBT              | CORP              | CA        |   1730000 | PA      | $1661623.36   | 0.09%             | 2032-05-04      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                                                | FN 797647                                                    | CUSIP: 31405SEU4<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     69204 | PA      | $71331.66     | 0.00%             | 2035-09-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                             | G2 786335                                                    | CUSIP: 3622AB4U3<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   9459728 | PA      | $9222204.82   | 0.52%             | 2052-09-20      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| NTT Finance Corp                                                                     | NTT 4.876 07/16/30 144A                                      | CUSIP: 62954WAS4<br>LEI: 3538007PR116187GD960 | Long             | DBT              | CORP              | JP        |   1840000 | PA      | $1852176.46   | 0.10%             | 2030-07-16      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                             | GNR 2015-98 IO                                               | CUSIP: 38379KZT8<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-O            | USGA              | US        |   8518775 | PA      | $47402.72     | 0.00%             | 2055-04-16      | Variable      | 0.17%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                             | GN 635903                                                    | CUSIP: 36291RNU2<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |      1546 | PA      | $1595.56      | 0.00%             | 2034-11-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                             | GN 616094                                                    | CUSIP: 36290SNK3<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |      1333 | PA      | $1359.56      | 0.00%             | 2033-11-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                             | GN 503047                                                    | CUSIP: 36210UZL0<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |       569 | PA      | $584.16       | 0.00%             | 2029-03-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                                                | FNA 2018-M15 1A2                                             | CUSIP: 3136B3YD6<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-O            | USGSE             | US        |   3735000 | PA      | $3523032.40   | 0.20%             | 2036-01-25      | Fixed         | 3.70%                 | No            |                  2 | On Loan: No      |
| New Residential Mortgage Loan Trust 2019-3                                           | NRZT 2019-3A A1A                                             | CUSIP: 64830EAC5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   4987614 | PA      | $4816877.72   | 0.27%             | 2058-11-25      | Variable      | 3.75%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                             | GN 603348                                                    | CUSIP: 36200KHZ3<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |       818 | PA      | $827.21       | 0.00%             | 2033-01-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| COMMONSPIRIT HEALTH                                                                  | CATMED 4.35 11/01/42                                         | CUSIP: 14916RAD6<br>LEI: 4SXHN5XW08IBO0UG2V58 | Long             | DBT              | CORP              | US        |    358000 | PA      | $304817.97    | 0.02%             | 2042-11-01      | Fixed         | 4.35%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                             | GNR 2013-50 IO                                               | CUSIP: 38378KJP5<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-O            | USGA              | US        |  18500139 | PA      | $34441.71     | 0.00%             | 2048-10-16      | Variable      | 0.07%                 | No            |                  2 | On Loan: No      |
| BP Capital Markets America, Inc.                                                     | BPLN 3.633 04/06/30                                          | CUSIP: 10373QBL3<br>LEI: 5493009NTB34VXE1T760 | Long             | DBT              | CORP              | US        |   1060000 | PA      | $1031323.72   | 0.06%             | 2030-04-06      | Fixed         | 3.63%                 | No            |                  2 | On Loan: No      |
| GOVERNMENT NATIONAL MORTGAGE ASSOCIATION II MORTGAGE-BACKED SECURITIES               | GN 564658                                                    | CUSIP: 36213UJB7<br>LEI: N/A                  | Long             | ABS-MBS          | USGA              | US        |      2547 | PA      | $2584.32      | 0.00%             | 2031-06-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                             | GNR 2021-68 IO                                               | CUSIP: 38380R4W7<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-O            | USGA              | US        |  13326909 | PA      | $823766.92    | 0.05%             | 2062-10-16      | Variable      | 0.88%                 | No            |                  2 | On Loan: No      |
| Goldman Sachs Group, Inc.                                                            | GS 6.25 02/01/41                                             | CUSIP: 38141GGM0<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | DBT              | CORP              | US        |   2341000 | PA      | $2466352.97   | 0.14%             | 2041-02-01      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| Solventum Corp.                                                                      | SOLV 5.4 03/01/29                                            | CUSIP: 83444MAP6<br>LEI: 254900I70403OSGY4M28 | Long             | DBT              | CORP              | US        |    830000 | PA      | $849186.79    | 0.05%             | 2029-03-01      | Fixed         | 5.40%                 | No            |                  2 | On Loan: No      |
| Ellington Financial Mortgage Trust 2019-1                                            | EFMT 2022-1 A1                                               | CUSIP: 31573CAA3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   8764456 | PA      | $7847422.65   | 0.44%             | 2067-01-25      | Variable      | 2.21%                 | No            |                  2 | On Loan: No      |
| The Kroger Co.                                                                       | KR 5 09/15/34                                                | CUSIP: 501044DV0<br>LEI: 6CPEOKI6OYJ13Q6O7870 | Long             | DBT              | CORP              | US        |   1090000 | PA      | $1076592.15   | 0.06%             | 2034-09-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                                                | FN BD8104                                                    | CUSIP: 3140FGAE9<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   2023927 | PA      | $1830139.89   | 0.10%             | 2046-10-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Panama (Republic of)                                                                 | PANAMA 2.252 09/29/32                                        | CUSIP: 698299BN3<br>LEI: 549300SHS4T08CL0LP14 | Long             | DBT              | NUSS              | PA        |   1900000 | PA      | $1565030.00   | 0.09%             | 2032-09-29      | Fixed         | 2.25%                 | No            |                  2 | On Loan: No      |
| Lockheed Martin Corporation                                                          | LMT 3.9 06/15/32                                             | CUSIP: 539830BR9<br>LEI: DPRBOZP0K5RM2YE8UU08 | Long             | DBT              | CORP              | US        |    900000 | PA      | $874971.21    | 0.05%             | 2032-06-15      | Fixed         | 3.90%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                                                | FN CB3044                                                    | CUSIP: 3140QNL26<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   7838987 | PA      | $6728239.41   | 0.38%             | 2052-03-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| Glencore Funding LLC                                                                 | GLENLN 5.673 04/01/35 144A                                   | CUSIP: 378272CA4<br>LEI: 213800STG1QDNBY87K49 | Long             | DBT              | CORP              | US        |   1980000 | PA      | $2023561.76   | 0.11%             | 2035-04-01      | Fixed         | 5.67%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                                                | FNMA-30YR                                                    | CUSIP: 01F052649<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   5800000 | PA      | $5827620.53   | 0.33%             | 2056-04-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                             | GN 781688                                                    | CUSIP: 36225B2V9<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |     15735 | PA      | $16276.80     | 0.00%             | 2033-12-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corp.                                                     | FH 841076                                                    | CUSIP: 31288QFR6<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   8327736 | PA      | $8344671.54   | 0.47%             | 2048-11-01      | Variable      | 3.01%                 | No            |                  2 | On Loan: No      |
| Coterra Energy Inc                                                                   | CTRA 4.375 03/15/29                                          | CUSIP: 127097AK9<br>LEI: FCNMH6O7VWU7LHXMK351 | Long             | DBT              | CORP              | US        |   2150000 | PA      | $2142482.89   | 0.12%             | 2029-03-15      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| Walt Disney Company                                                                  | DIS 6.65 11/15/37                                            | CUSIP: 254687EH5<br>LEI: 549300GZKULIZ0WOW665 | Long             | DBT              | CORP              | US        |   1660000 | PA      | $1868823.39   | 0.11%             | 2037-11-15      | Fixed         | 6.65%                 | No            |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corp.                                                     | FHMR 2020-RR07 AX                                            | CUSIP: 3137FRVC2<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-O            | USGSE             | US        |   9000000 | PA      | $436405.95    | 0.02%             | 2028-09-27      | Variable      | 2.47%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                                                | FN AS5314                                                    | CUSIP: 3138WE3Y3<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   2270097 | PA      | $2193663.95   | 0.12%             | 2045-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| T-Mobile USA, Inc.                                                                   | TMUS 3 02/15/41                                              | CUSIP: 87264ABL8<br>LEI: 549300V2JRLO5DIFGE82 | Long             | DBT              | CORP              | US        |    300000 | PA      | $219482.81    | 0.01%             | 2041-02-15      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Pacific Gas and Electric Company                                                     | PCG 2.1 08/01/27                                             | CUSIP: 694308JF5<br>LEI: 1HNPXZSMMB7HMBMVBS46 | Long             | DBT              | CORP              | US        |   2130000 | PA      | $2065150.13   | 0.12%             | 2027-08-01      | Fixed         | 2.10%                 | No            |                  2 | On Loan: No      |
| EXTENDED STAY AMERICA TRUST 2025-ESH                                                 | ESA 2025-ESH A                                               | CUSIP: 30227TAA8<br>LEI: 549300IESZBC3BJUJW64 | Long             | ABS-O            | CORP              | US        |   1780000 | PA      | $1782337.50   | 0.10%             | 2042-10-15      | Floating      | 4.97%                 | No            |                  2 | On Loan: No      |
| Mars Inc.                                                                            | MARS 5 03/01/32 144A                                         | CUSIP: 571676AZ8<br>LEI: 54930073HKEO6GZBSS03 | Long             | DBT              | CORP              | US        |    390000 | PA      | $394732.58    | 0.02%             | 2032-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                                                | FNR 2025-53 FA                                               | CUSIP: 3136BWRC2<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-O            | USGSE             | US        |     82020 | PA      | $83365.43     | 0.00%             | 2055-07-25      | Floating      | 5.59%                 | No            |                  2 | On Loan: No      |
| Williams Companies Inc. (The)                                                        | WMB 7.5 01/15/31 A                                           | CUSIP: 969457BB5<br>LEI: D71FAKCBLFS2O0RBPG08 | Long             | DBT              | CORP              | US        |   1745000 | PA      | $1951262.16   | 0.11%             | 2031-01-15      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| Oracle Corp.                                                                         | ORCL 4.65 05/06/30                                           | CUSIP: 68389XCN3<br>LEI: 1Z4GXXU7ZHVWFCD8TV52 | Long             | DBT              | CORP              | US        |   1560000 | PA      | $1525223.08   | 0.09%             | 2030-05-06      | Fixed         | 4.65%                 | No            |                  2 | On Loan: No      |
| Cooperatieve Rabobank U.A.                                                           | RABOBK V3.649 04/06/28 144A                                  | CUSIP: 74977RDN1<br>LEI: DG3RU1DBUFHT4ZF9WN62 | Long             | DBT              | CORP              | NL        |   1050000 | PA      | $1040637.14   | 0.06%             | 2028-04-06      | Fixed         | 3.65%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                                                | FN BD9655                                                    | CUSIP: 3140FHWR4<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    621272 | PA      | $561529.33    | 0.03%             | 2046-11-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corp.                                                     | FR QC1164                                                    | CUSIP: 3133AKJH4<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   1671225 | PA      | $1374665.17   | 0.08%             | 2051-04-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| Morgan Stanley                                                                       | MS V3.772 01/24/29 GMTN                                      | CUSIP: 61744YAP3<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |   1929000 | PA      | $1903676.69   | 0.11%             | 2029-01-24      | Fixed         | 3.77%                 | No            |                  2 | On Loan: No      |
| SMB PRIVATE EDUCATION LOAN TRUST 2020-PT-A                                           | SMB 2020-PTA B                                               | CUSIP: 78449VAD8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |  10000000 | PA      | $8971244.00   | 0.51%             | 2054-09-15      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                             | GN 711068                                                    | CUSIP: 36297F6D9<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |      4368 | PA      | $4461.70      | 0.00%             | 2040-01-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| T-Mobile USA, Inc.                                                                   | TMUS 5.875 11/15/55                                          | CUSIP: 87264ADU6<br>LEI: 549300V2JRLO5DIFGE82 | Long             | DBT              | CORP              | US        |    930000 | PA      | $907519.23    | 0.05%             | 2055-11-15      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| AbbVie Inc.                                                                          | ABBV 4.55 03/15/35                                           | CUSIP: 00287YCY3<br>LEI: FR5LCKFTG8054YNNRU85 | Long             | DBT              | CORP              | US        |    233000 | PA      | $226322.32    | 0.01%             | 2035-03-15      | Fixed         | 4.55%                 | No            |                  2 | On Loan: No      |
| GOVERNMENT NATIONAL MORTGAGE ASSOCIATION II MORTGAGE-BACKED SECURITIES               | GN 553320                                                    | CUSIP: 36213FVM2<br>LEI: N/A                  | Long             | ABS-MBS          | USGA              | US        |       259 | PA      | $264.82       | 0.00%             | 2033-06-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| GE Vernova Inc.                                                                      | GEV 5.5 02/04/56                                             | CUSIP: 36828AAC5<br>LEI: 254900DP080RU6OK2553 | Long             | DBT              | CORP              | US        |    360000 | PA      | $346566.04    | 0.02%             | 2056-02-04      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                             | GN 781525                                                    | CUSIP: 36225BVS4<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |      8589 | PA      | $8877.63      | 0.00%             | 2032-11-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                             | GN 590395                                                    | CUSIP: 36201Q3C5<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |     23846 | PA      | $24229.62     | 0.00%             | 2032-08-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Eagle Funding Luxco S.a.r.l.                                                         | MEXPCP 5.5 08/17/30 144A                                     | CUSIP: 26951TAA8<br>LEI: 894500VDP08MVIZ6OA60 | Long             | DBT              | CORP              | LU        |   2760000 | PA      | $2777940.00   | 0.16%             | 2030-08-17      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| B.A.T. Capital Corporation                                                           | BATSLN 4.54 08/15/47                                         | CUSIP: 05526DBF1<br>LEI: 2138005GYEXN7XRHFA84 | Long             | DBT              | CORP              | US        |    837000 | PA      | $680170.66    | 0.04%             | 2047-08-15      | Fixed         | 4.54%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                                                | FN MA2749                                                    | CUSIP: 31418CBT0<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   2273477 | PA      | $2120640.22   | 0.12%             | 2036-09-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| Wells Fargo & Co.                                                                    | WFC V4.478 04/04/31 MTN                                      | CUSIP: 95000U2L6<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | DBT              | CORP              | US        |   1980000 | PA      | $1963477.83   | 0.11%             | 2031-04-04      | Fixed         | 4.48%                 | No            |                  2 | On Loan: No      |
| CITIBANK NA                                                                          | SRGIM 5 05/28/30 144A                                        | CUSIP: 83304JAA5<br>LEI: E57ODZWZ7FF32TWEFA76 | Long             | DBT              | CORP              | US        |    650000 | PA      | $656941.23    | 0.04%             | 2030-05-28      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Oracle Corp.                                                                         | ORCL 2.875 03/25/31                                          | CUSIP: 68389XCE3<br>LEI: 1Z4GXXU7ZHVWFCD8TV52 | Long             | DBT              | CORP              | US        |   3230000 | PA      | $2869531.58   | 0.16%             | 2031-03-25      | Fixed         | 2.88%                 | No            |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corp.                                                     | FR SL0203                                                    | CUSIP: 31427MGM7<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    158417 | PA      | $162561.89    | 0.01%             | 2055-01-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                             | G2 BS8546                                                    | CUSIP: 3617MKP78<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   2062223 | PA      | $1759462.70   | 0.10%             | 2050-12-20      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| Las Vegas Sands Corp                                                                 | LVS 5.625 06/15/28                                           | CUSIP: 517834AM9<br>LEI: 549300DUOO1KXOHPM605 | Long             | DBT              | CORP              | US        |   2330000 | PA      | $2360804.11   | 0.13%             | 2028-06-15      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| TRANSCONTINENTAL GAS PIPELINE COMPANY LLC                                            | WMB 3.25 05/15/30                                            | CUSIP: 893574AP8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    570000 | PA      | $542035.40    | 0.03%             | 2030-05-15      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corp.                                                     | FR ZM1278                                                    | CUSIP: 3131XUM38<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   1510530 | PA      | $1417658.03   | 0.08%             | 2046-06-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Exelon Corp.                                                                         | EXC 5.625 06/15/35                                           | CUSIP: 30161NAC5<br>LEI: 3SOUA6IRML7435B56G12 | Long             | DBT              | CORP              | US        |    660000 | PA      | $676051.71    | 0.04%             | 2035-06-15      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| MAN CAPITAL 2021-2R                                                                  | MUCLO 2021-2RA A1R                                           | CUSIP: 56164SAA0<br>LEI: 549300MBY3B6FX1O8T44 | Long             | ABS-CBDO         | CORP              | KY        |   3710000 | PA      | $3701584.98   | 0.21%             | 2039-04-18      | Variable      | 4.99%                 | No            |                  2 | On Loan: No      |
| Santander UK Group Holdings PLC                                                      | SANUK V5.136 09/22/36                                        | CUSIP: 80281LAY1<br>LEI: 549300F5XIFGNNW4CF72 | Long             | DBT              | CORP              | GB        |   1040000 | PA      | $1004664.50   | 0.06%             | 2036-09-22      | Fixed         | 5.14%                 | No            |                  2 | On Loan: No      |
| GE Vernova Inc.                                                                      | GEV 4.25 02/04/31                                            | CUSIP: 36828AAA9<br>LEI: 254900DP080RU6OK2553 | Long             | DBT              | CORP              | US        |    620000 | PA      | $613225.89    | 0.03%             | 2031-02-04      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| Sands China Ltd.                                                                     | SANLTD 2.85 03/08/29                                         | CUSIP: 80007RAQ8<br>LEI: 549300EVO6UZDGY05787 | Long             | DBT              | CORP              | KY        |   4690000 | PA      | $4419325.56   | 0.25%             | 2029-03-08      | Fixed         | 2.85%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                             | GN 465983                                                    | CUSIP: 36209AUG3<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |       105 | PA      | $105.62       | 0.00%             | 2028-03-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| BOARD OF TRADE OF THE CITY OF CHICAGO, INC.                                          | 5-Year T-Note Options                                        | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DIR              | CORP              | US        |      -327 | NC      | $-45984.38    | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| DELTA AIR LINES INC                                                                  | DAL 4.75 10/20/28 144A                                       | CUSIP: 830867AB3<br>LEI: Q2CCMS6R0AS67HJMBN42 | Long             | DBT              | CORP              | US        |    357500 | PA      | $357111.77    | 0.02%             | 2028-10-20      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| AT&T Inc                                                                             | T 5.55 08/15/41                                              | CUSIP: 00206RBA9<br>LEI: 549300Z40J86GGSTL398 | Long             | DBT              | CORP              | US        |    980000 | PA      | $949298.31    | 0.05%             | 2041-08-15      | Fixed         | 5.55%                 | No            |                  2 | On Loan: No      |
| Bristol-Myers Squibb Company                                                         | BMY 5.55 02/22/54                                            | CUSIP: 110122EK0<br>LEI: HLYYNH7UQUORYSJQCN42 | Long             | DBT              | CORP              | US        |    400000 | PA      | $385429.23    | 0.02%             | 2054-02-22      | Fixed         | 5.55%                 | No            |                  2 | On Loan: No      |
| BX TRUST 2018-BILT                                                                   | BX 2026-CSMO A                                               | CUSIP: 12433LAA3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   2760000 | PA      | $2764136.96   | 0.16%             | 2031-02-15      | Floating      | 5.07%                 | No            |                  2 | On Loan: No      |
| Eli Lilly & Co.                                                                      | LLY 5 02/09/54                                               | CUSIP: 532457CM8<br>LEI: FRDRIPF3EKNDJ2CQJL29 | Long             | DBT              | CORP              | US        |   1050000 | PA      | $957233.72    | 0.05%             | 2054-02-09      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CVS Health Corp                                                                      | CVS 5.125 07/20/45                                           | CUSIP: 126650CN8<br>LEI: 549300EJG376EN5NQE29 | Long             | DBT              | CORP              | US        |   1104000 | PA      | $969980.17    | 0.05%             | 2045-07-20      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| Honeywell Aerospace Inc.                                                             | HONA 5.622 03/16/46 144A                                     | CUSIP: 43849RAH8<br>LEI: 213800ZUAQRBYL67JS90 | Long             | DBT              | CORP              | US        |    380000 | PA      | $374700.42    | 0.02%             | 2046-03-16      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                             | GNR 2017-8 IO                                                | CUSIP: 38379RLZ4<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-O            | USGA              | US        |   4608663 | PA      | $80699.07     | 0.00%             | 2058-08-16      | Variable      | 0.44%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                             | G2 783050                                                    | CUSIP: 36241LL79<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |     33318 | PA      | $33601.78     | 0.00%             | 2040-07-20      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| RTX Corp.                                                                            | RTX 2.25 07/01/30                                            | CUSIP: 75513EAD3<br>LEI: I07WOS4YJ0N7YRFE7309 | Long             | DBT              | CORP              | US        |   2960000 | PA      | $2707713.07   | 0.15%             | 2030-07-01      | Fixed         | 2.25%                 | No            |                  2 | On Loan: No      |
| OHA LOAN FUNDING 2013-2 LTD                                                          | OHALF 2013-2A AR2                                            | CUSIP: 67104LAK3<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    480000 | PA      | $479955.02    | 0.03%             | 2038-10-20      | Floating      | 5.35%                 | No            |                  2 | On Loan: No      |
| Wells Fargo & Co.                                                                    | WFC V2.879 10/30/30 MTN                                      | CUSIP: 95000U2G7<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | DBT              | CORP              | US        |   4160000 | PA      | $3925529.00   | 0.22%             | 2030-10-30      | Fixed         | 2.88%                 | No            |                  2 | On Loan: No      |
| FEDERAL HOME LN MTG CORP MULTICLASS MTG PARTN CTFS GTD                               | FHR 5282 GI                                                  | CUSIP: 3137H9KH1<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-O            | USGSE             | US        |   3418379 | PA      | $731684.60    | 0.04%             | 2050-02-25      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                                                | FN BE4774                                                    | CUSIP: 3140FQJU2<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    251335 | PA      | $227584.10    | 0.01%             | 2047-01-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Occidental Petroleum Corp.                                                           | OXY 7.875 09/15/31                                           | CUSIP: 674599DE2<br>LEI: IM7X0T3ECJW4C1T7ON55 | Long             | DBT              | CORP              | US        |   1960000 | PA      | $2230830.84   | 0.13%             | 2031-09-15      | Fixed         | 7.88%                 | No            |                  2 | On Loan: No      |
| Citigroup Inc.                                                                       | C 6.625 06/15/32                                             | CUSIP: 172967BL4<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |    412000 | PA      | $447950.11    | 0.03%             | 2032-06-15      | Fixed         | 6.62%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                                                | FN 995072                                                    | CUSIP: 31416BMV7<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    112413 | PA      | $115709.40    | 0.01%             | 2038-08-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| RTX Corp.                                                                            | RTX 3.125 07/01/50                                           | CUSIP: 75513EAC5<br>LEI: I07WOS4YJ0N7YRFE7309 | Long             | DBT              | CORP              | US        |   2560000 | PA      | $1684845.62   | 0.10%             | 2050-07-01      | Fixed         | 3.12%                 | No            |                  2 | On Loan: No      |
| WELLS FARGO COMMERCIAL MORTGAGE TRUST 2024-C63                                       | WFCM 2024-C63 A5                                             | CUSIP: 94990FAE1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   2000000 | PA      | $2044281.80   | 0.12%             | 2057-08-17      | Fixed         | 5.31%                 | No            |                  2 | On Loan: No      |
| Mars Inc.                                                                            | MARS 5.7 05/01/55 144A                                       | CUSIP: 571676BC8<br>LEI: 54930073HKEO6GZBSS03 | Long             | DBT              | CORP              | US        |   2860000 | PA      | $2790652.12   | 0.16%             | 2055-05-01      | Fixed         | 5.70%                 | No            |                  2 | On Loan: No      |
| CASTLELAKE AIRCRAFT STRUCTURED TRUST 2026-1                                          | CLAST 2026-1A A                                              | CUSIP: 148924AA1<br>LEI: 5493003ADMTNWVTVWM43 | Long             | ABS-O            | CORP              | US        |   3690000 | PA      | $3629469.24   | 0.21%             | 2051-03-15      | Fixed         | 5.07%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                             | G2-30YR-Multi                                                | CUSIP: 21H052645<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |  11000000 | PA      | $11071774.89  | 0.63%             | 2056-04-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| COLUMBIA PIPELINES OPERATING CO LLC                                                  | CPGX 6.036 11/15/33 144A                                     | CUSIP: 19828TAB2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1040000 | PA      | $1096271.30   | 0.06%             | 2033-11-15      | Fixed         | 6.04%                 | No            |                  2 | On Loan: No      |
| Constellation Energy Generation LLC                                                  | CEG 4.4 01/15/31                                             | CUSIP: 210385AQ3<br>LEI: S2PEWKCZFFECR4533P43 | Long             | DBT              | CORP              | US        |    260000 | PA      | $256717.55    | 0.01%             | 2031-01-15      | Fixed         | 4.40%                 | No            |                  2 | On Loan: No      |
| GOLDENTREE LN MGM 20 LTD/LLC                                                         | GLM 2024-20A A                                               | CUSIP: 38139MAC9<br>LEI: 984500CF2B1A04F63R63 | Long             | ABS-CBDO         | CORP              | JE        |   2800000 | PA      | $2807407.12   | 0.16%             | 2037-07-20      | Floating      | 5.12%                 | No            |                  2 | On Loan: No      |
| ANGLO AMERICAN PLC                                                                   | AALLN 5.25 03/19/36 144A                                     | CUSIP: 034863BJ8<br>LEI: 549300S9XF92D1X8ME43 | Long             | DBT              | CORP              | GB        |    990000 | PA      | $968436.19    | 0.05%             | 2036-03-19      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| C-Bass ABS LLC                                                                       | CBASS 1999-3 A                                               | CUSIP: 124860CB1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |       108 | PA      | $103.32       | 0.00%             | 2029-02-03      | Variable      | 2.94%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                             | GN 585433                                                    | CUSIP: 36201KLN4<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |      7987 | PA      | $8027.91      | 0.00%             | 2032-06-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| UnitedHealth Group Inc.                                                              | UNH 3.875 08/15/59                                           | CUSIP: 91324PDV1<br>LEI: 549300GHBMY8T5GXDE41 | Long             | DBT              | CORP              | US        |    889000 | PA      | $620849.33    | 0.04%             | 2059-08-15      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| Alphabet Inc.                                                                        | GOOGL 4.7 11/15/35                                           | CUSIP: 02079KAY3<br>LEI: 5493006MHB84DD0ZWV18 | Long             | DBT              | CORP              | US        |   1130000 | PA      | $1116859.73   | 0.06%             | 2035-11-15      | Fixed         | 4.70%                 | No            |                  2 | On Loan: No      |
| Mars Inc.                                                                            | MARS 5.2 03/01/35 144A                                       | CUSIP: 571676BA2<br>LEI: 54930073HKEO6GZBSS03 | Long             | DBT              | CORP              | US        |    910000 | PA      | $918994.51    | 0.05%             | 2035-03-01      | Fixed         | 5.20%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                             | GN 538312                                                    | CUSIP: 36212NAM9<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |      5082 | PA      | $5203.37      | 0.00%             | 2032-02-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                                                | FN BQ1528                                                    | CUSIP: 3140KLVW9<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   1275923 | PA      | $1054002.54   | 0.06%             | 2050-09-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                                                | FN FS8001                                                    | CUSIP: 3140XP3K3<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   2955655 | PA      | $3002786.79   | 0.17%             | 2054-06-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| OWL ROCK CLO III LLC                                                                 | OR 2020-3A AR                                                | CUSIP: 69120DAA9<br>LEI: 2549004CIDJSHLSPXF37 | Long             | ABS-CBDO         | CORP              | US        |   7110000 | PA      | $7120934.47   | 0.40%             | 2036-04-21      | Floating      | 5.52%                 | No            |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corp.                                                     | FG G61739                                                    | CUSIP: 31335B4Y9<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   4294439 | PA      | $3893379.63   | 0.22%             | 2048-09-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                                                | FN CA2482                                                    | CUSIP: 3140Q9XL2<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   3418955 | PA      | $3369064.61   | 0.19%             | 2048-10-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                             | GN 585121                                                    | CUSIP: 36201KAW6<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |      8304 | PA      | $8412.81      | 0.00%             | 2033-02-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Fnma Pass-Thru I                                                                     | FN FA2842                                                    | CUSIP: 3140W3EQ8<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   1214599 | PA      | $1257267.25   | 0.07%             | 2055-07-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                                                | FN 622321                                                    | CUSIP: 31389DLA3<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |      2157 | PA      | $2231.02      | 0.00%             | 2032-02-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2026-05-27

**Name of Applicant:** Western Asset Funds Inc

**Signature:** Christopher Berarducci

**Name of Signer:** Christopher Berarducci

**Title:** Principal Financial Officer