# EDGAR Filing Document

**Accession Number:** 0002042316
**File Stem:** 0001004726-26-003121
**Filing Date:** 2026-4
**Character Count:** 108095
**Document Hash:** 18f0e84c9a4dc5cae6f0f4d7d68ab69a
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001004726-26-003121.hdr.sgml**: 20260428

**ACCESSION NUMBER**: 0001004726-26-003121

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20260228

**FILED AS OF DATE**: 20260428

**DATE AS OF CHANGE**: 20260428

**PERIOD START**: 20260831

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Victory Portfolios IV
- **CENTRAL INDEX KEY:** 0002042316

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

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-24019
- **FILM NUMBER:** 26907026

**BUSINESS ADDRESS:**
- **STREET 1:** 15935 LA CANTERA PARKWAY
- **CITY:** SAN ANTONIO
- **STATE:** TX
- **ZIP:** 78256
- **BUSINESS PHONE:** (210) 697-3624

**MAIL ADDRESS:**
- **STREET 1:** 15935 LA CANTERA PARKWAY
- **CITY:** SAN ANTONIO
- **STATE:** TX
- **ZIP:** 78256

## Series and Classes Contracts Data

### Victory Pioneer Active Credit Fund (Series ID: S000089774)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000256552 | Class Y      | RCRYX           |
| C000256553 | Class A      | RCRAX           |
| C000256554 | Class C      | RCRCX           |

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** Victory Portfolios IV

- **b. Investment Company Act file number:** 811-24019

- **c. CIK number of Registrant:** 0002042316

- **d. LEI of Registrant:** 25490054DPU07WNNLY79

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

  - **Street Address 1:** 15935 La Cantera Pkwy Building Two

  - **City:** San Antonio

  - **State:** TX

  - **Foreign country:** US

  - **Zip / Postal Code:** 78256

  - **Telephone number:** 800-539-3863

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

- **a. Name of Series:** Victory Pioneer Active Credit Fund

- **b. EDGAR series identifier (if any):** S000089774

- **c. LEI of Series:** HNEH6BRMRL0UD63MV889

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

- **a. Date of fiscal year-end:** 2026-08-31

- **b. Date as of which information is reported:** 2026-02-28

**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:** $51316041.15

**Total Liabilities:** $3118117.44

**Net Assets:** $48197923.71

**Cash Not Reported:** $3075595.85

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** -50.32522338 | **1-Year:** -747.45525186 | **5-Year:** -3274.28747284 | **10-Year:** -7239.78057860 | **30-Year:** -2695.06974408

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

- **3-Month:** -23.64325253 | **1-Year:** -747.68292844 | **5-Year:** -2378.78258505 | **10-Year:** -1910.99026889 | **30-Year:** -147.01069247

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000256553 | 0.66%                | 1.04%                | 0.32%                |
| Class ID C000256554 | 0.60%                | 0.98%                | 0.26%                |
| Class ID C000256552 | 0.68%                | 1.06%                | 0.34%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $28891.71                | $-69721.84                                 |
| Month 2  | $2137.05                 | $178925.49                                 |
| Month 3  | $183155.86               | $69503.90                                  |

**Designated Index Information**

- **Index Name:** Securities Portfolio

- **Index Identifier:** N/A

### Schedule of Portfolio Investments

| Name                                               | Title                                              | Identifiers                                   | Payoff Profile   | Asset Category   | Issuer Category   | Country   |    Balance | Units   | Value (USD)   | % of Net Assets   | Maturity Date   | Coupon Type   | Annualized Rate (%)   | Restricted?   | Fair Value Level   | Lending Status   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| WELLS FARGO BANK, NATIONAL ASSOCIATION             | WELLS FARGO BANK NA                                | CUSIP: 95003X872<br>LEI: KB1H1DSPRFMYMCUFXT09 | Long             | DBT              | CORP              | US        |       2300 | PA      | $107732.00    | 0.22%             | 2026-03-09      | Fixed         | 11.86%                | No            | 2                  | On Loan: No      |
| SUMITOMO LIFE INSURANCE COMPANY                    | SUMITOMO LIFE INSURANCE CO                         | CUSIP: 86564CAF7<br>LEI: 549300I5OQCDADQSPI57 | Long             | DBT              | CORP              | JP        |     564000 | PA      | $571747.10    | 1.19%             | 2055-09-10      | Fixed         | 5.88%                 | Yes           | 2                  | On Loan: No      |
| JP MORGAN                                          | JP MORGAN                                          | CUSIP: DF0528839<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |       1300 | PA      | $279747.00    | 0.58%             | 2027-02-24      | None          | 0.00%                 | No            | 2                  | On Loan: No      |
| South Bow Canadian Infrastructure Holdings Ltd.    | SOUTH BOW CANADIAN                                 | CUSIP: 836720AJ1<br>LEI: 2549004FYUSYLPBT1G26 | Long             | DBT              | CORP              | CA        |      55000 | PA      | $58379.09     | 0.12%             | 2055-03-01      | Fixed         | 7.50%                 | No            | 2                  | On Loan: No      |
| ALBERTSONS COMPANIES, INC.                         | ALBERTSONS COS INC                                 | CUSIP: 01309QAC2<br>LEI: 549300YKWOC0AOR16R51 | Long             | DBT              | CORP              | US        |      60000 | PA      | $60403.80     | 0.13%             | 2031-03-31      | Fixed         | 5.50%                 | Yes           | 2                  | On Loan: No      |
| EURO                                               | EURO                                               | CUSIP: N/A<br>LEI: N/A                        | N/A              |  |  | XX        |    -516563 | NS      | $-610370.67   | -1.27%            |  |  |  | No            | N/A                | On Loan: No      |
| LHOME MORTGAGE TRUST                               | LHOME MORTGAGE TRUST 2024 RTL1                     | CUSIP: 50205DAA7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     170000 | PA      | $170060.61    | 0.35%             | 2029-01-25      | Fixed         | 7.02%                 | Yes           | 2                  | On Loan: No      |
| SOCIETE GENERALE SA                                | SOCIETE GENERALE SA                                | CUSIP: 83368RCK6<br>LEI: O2RNE8IBXP4R0TD8PU41 | Long             | DBT              | CORP              | FR        |     250000 | PA      | $253363.27    | 0.53%             | 2036-10-03      | Fixed         | 5.44%                 | Yes           | 2                  | On Loan: No      |
| LEVEL 3 FINANCING, INC.                            | LEVEL 3 FINANCING INC                              | CUSIP: 527298CM3<br>LEI: 254900AE5FEFIJOXWL19 | Long             | DBT              | CORP              | US        |      34000 | PA      | $35212.95     | 0.07%             | 2033-06-30      | Fixed         | 6.88%                 | Yes           | 2                  | On Loan: No      |
| ASCENT CAREER FUNDING TRUST                        | ASCENT CAREER FUNDING TRUST 2024 1                 | CUSIP: 04363LAA4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      41435 | PA      | $41709.37     | 0.09%             | 2032-10-25      | Fixed         | 6.77%                 | Yes           | 2                  | On Loan: No      |
| Darling Global Finance B.V.                        | DARLING GLOBAL FINANCE BV                          | CUSIP: N/A<br>LEI: 724500R2BQXOR6YG2Y67       | Long             | DBT              | CORP              | NL        |     105000 | PA      | $126894.78    | 0.26%             | 2032-07-15      | Fixed         | 4.50%                 | Yes           | 2                  | On Loan: No      |
| Four Lakes Re Ltd.                                 | FOUR LAKES RE LTD                                  | CUSIP: 35087TAG3<br>LEI: 549300MG4RRU6DT7MN54 | Long             | DBT              | CORP              | BM        |     250000 | PA      | $256875.00    | 0.53%             | 2032-01-07      | Variable      | 9.36%                 | Yes           | 2                  | On Loan: No      |
| WELLS FARGO BANK NA                                | WELLS FARGO BANK NA                                | CUSIP: 95005A730<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |        700 | PA      | $276780.00    | 0.57%             | 2027-02-26      | Floating      | 10.14%                | No            | 2                  | On Loan: No      |
| AVOLON HOLDINGS FUNDING LIMITED                    | AVOLON HOLDINGS FUNDING LTD                        | CUSIP: 05401ABD2<br>LEI: 635400ZRKEX9L1BKCH30 | Long             | DBT              | CORP              | KY        |      75000 | PA      | $75261.85     | 0.16%             | 2031-01-30      | Fixed         | 4.70%                 | Yes           | 2                  | On Loan: No      |
| CDX CDX NAHYS45V1 5Y                               | CDX CDX NAHYS45V1 5Y                               | CUSIP: N/A<br>LEI: N/A                        | N/A              | DCR              |  | US        |   13701600 | OU      | $-927161.23   | -1.92%            |  |  |  | No            | 2                  | On Loan: No      |
| FREDDIE MAC SEASONED CREDIT RISK TRANSFER TRUST    | FREDDIE MAC SEASONED CREDIT RISK TRANSFER TRUST SE | CUSIP: 35563PJQ3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     218958 | PA      | $216733.96    | 0.45%             | 2058-07-25      | Variable      | 4.75%                 | Yes           | 2                  | On Loan: No      |
| PEPSICO INC                                        | PEPSICO INC                                        | CUSIP: 713448GR3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     520000 | PA      | $623188.95    | 1.29%             | 2047-02-11      | Fixed         | 4.15%                 | No            | 2                  | On Loan: No      |
| MERRILL LYNCH BV                                   | MERRILL LYNCH BV                                   | CUSIP: YQ7639764<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |        500 | PA      | $95920.00     | 0.20%             | 2026-04-09      | Floating      | 13.63%                | No            | 2                  | On Loan: No      |
| MORGAN STANLEY RESIDENTIAL MORTGAGE LOAN TRUST     | MORGAN STANLEY RESIDENTIAL MORTGAGE LOAN TRUST 202 | CUSIP: 61775VAF3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     240000 | PA      | $240264.41    | 0.50%             | 2068-09-25      | Variable      | 7.36%                 | Yes           | 2                  | On Loan: No      |
| Bridge Street Re Ltd.                              | BRIDGE STREET RE LTD                               | CUSIP: 10807LAA5<br>LEI: 2549008NKPLMU6X7ID58 | Long             | DBT              | CORP              | BM        |     250000 | PA      | $252225.00    | 0.52%             | 2032-01-07      | Variable      | 7.79%                 | Yes           | 2                  | On Loan: No      |
| ING Groep N.V.                                     | ING GROEP NV                                       | CUSIP: 456837BT9<br>LEI: 549300NYKK9MWM7GGW15 | Long             | DBT              | CORP              | NL        |     200000 | PA      | $207899.60    | 0.43%             | 2199-12-31      | Fixed         | 7.00%                 | No            | 2                  | On Loan: No      |
| WINDSTREAM SERVICES LLC                            | WINDSTREAM SERVICES LLC                            | CUSIP: 97381JAK9<br>LEI: N/A                  | Long             | LON              | CORP              | US        |     166000 | PA      | $166415.00    | 0.35%             | 2032-09-25      | Floating      | 7.67%                 | No            | 2                  | On Loan: No      |
| FREDDIE MAC SEASONED CREDIT RISK TRANSFER TRUST    | FREDDIE MAC SEASONED CREDIT RISK TRANSFER TRUST SE | CUSIP: 35563PKR9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     262334 | PA      | $258294.38    | 0.54%             | 2058-08-25      | Variable      | 4.75%                 | Yes           | 2                  | On Loan: No      |
| CAPITAL ONE FINANCIAL CORPORATION                  | CAPITAL ONE FINANCIAL CO                           | CUSIP: 14040H758<br>LEI: ZUE8T73ROZOF6FLBAR73 | Long             | EP               | CORP              | US        |       1048 | NS      | $18015.12     | 0.04%             |  |  |  | No            | 1                  | On Loan: No      |
| FREDDIE MAC STACR REMIC TRUST                      | FREDDIE MAC STACR REMIC TRUST 2025 HQA1            | CUSIP: 35564NGY3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     107625 | PA      | $107742.31    | 0.22%             | 2045-02-25      | Floating      | 4.62%                 | Yes           | 2                  | On Loan: No      |
| AVIANCA MIDCO 2 PLC                                | AVIANCA MIDCO 2 PLC                                | CUSIP: 05369YAA7<br>LEI: N/A                  | Long             | DBT              | CORP              | GB        |     200000 | PA      | $202000.00    | 0.42%             | 2030-02-14      | Fixed         | 9.62%                 | Yes           | 2                  | On Loan: No      |
| VIRIBUS RE 2019 12 31 26                           | VIRIBUS RE 2019 12 31 26                           | CUSIP: S00121123<br>LEI: N/A                  | Long             | DBT              | CORP              | BM        |     106153 | PA      | $0.00         | 0.00%             | 2026-12-31      | None          | 0.00%                 | Yes           | 3                  | On Loan: No      |
| VENTURE GLOBAL PLAQUEMINES LNG, LLC                | VENTURE GLOBAL PLAQUEMINES LNG LLC                 | CUSIP: 922966AE6<br>LEI: 549300TKP4I6OJ02BF90 | Long             | DBT              | CORP              | US        |     100000 | PA      | $103880.80    | 0.22%             | 2030-12-15      | Fixed         | 6.12%                 | Yes           | 2                  | On Loan: No      |
| FREDDIE MAC STACR REMIC TRUST                      | FREDDIE MAC STACR REMIC TRUST 2021 HQA1            | CUSIP: 35564KCP2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     175000 | PA      | $207118.98    | 0.43%             | 2033-08-25      | Floating      | 8.67%                 | Yes           | 2                  | On Loan: No      |
| THE BANK OF NOVA SCOTIA                            | BANK OF NOVA SCOTIA THE                            | CUSIP: 06418GAZ0<br>LEI: L3I9ZG2KFGXZ61BMYR72 | Long             | DBT              | CORP              | CA        |     155000 | PA      | $156786.68    | 0.33%             | 2034-02-02      | Fixed         | 4.81%                 | No            | 2                  | On Loan: No      |
| CITIZENS FINANCIAL GROUP, INC.                     | CITIZENS FINANCIAL GROUP INC                       | CUSIP: 174610BK0<br>LEI: 2138004JDDA4ZQUPFW65 | Long             | DBT              | CORP              | US        |      15000 | PA      | $15206.35     | 0.03%             | 2036-01-29      | Fixed         | 5.30%                 | No            | 2                  | On Loan: No      |
| VEROS AUTO RECEIVABLES TRUST                       | VEROS AUTO RECEIVABLES TRUST 2024 1                | CUSIP: 92512WAB3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     200000 | PA      | $202089.00    | 0.42%             | 2028-06-15      | Fixed         | 6.60%                 | Yes           | 2                  | On Loan: No      |
| BHG SECURITIZATION TRUST                           | BHG SECURITIZATION TRUST 2023 B                    | CUSIP: 08862GAB0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      69058 | PA      | $72761.57     | 0.15%             | 2036-12-17      | Fixed         | 7.45%                 | Yes           | 2                  | On Loan: No      |
| RCKT MORTGAGE TRUST                                | RCKTL 2025 2                                       | CUSIP: 74939HAD5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     130000 | PA      | $130772.88    | 0.27%             | 2034-11-25      | Fixed         | 5.25%                 | Yes           | 2                  | On Loan: No      |
| CDX CDX NAHYS45V2 5Y                               | CDX CDX NAHYS45V2 5Y                               | CUSIP: N/A<br>LEI: N/A                        | N/A              | DCR              |  | US        |    5445000 | OU      | $-368452.81   | -0.76%            |  |  |  | No            | 2                  | On Loan: No      |
| Merna Re II Ltd.                                   | MERNA REINSURANCE II LTD                           | CUSIP: 59013MAJ1<br>LEI: 549300478X5RX87PYX60 | Long             | DBT              | CORP              | BM        |     250000 | PA      | $257250.00    | 0.53%             | 2030-07-07      | Variable      | 14.33%                | Yes           | 2                  | On Loan: No      |
| CELANESE US HOLDINGS LLC                           | CELANESE US HOLDINGS LLC                           | CUSIP: 15089QBD5<br>LEI: CD30XVRLT4QO00B1C706 | Long             | DBT              | CORP              | US        |     250000 | PA      | $256828.75    | 0.53%             | 2034-02-15      | Fixed         | 7.38%                 | No            | 2                  | On Loan: No      |
| SYSCO CORPORATION                                  | SYSCO CORP                                         | CUSIP: 871829BW6<br>LEI: 5RGWIFLMGH3YS7KWI652 | Long             | DBT              | CORP              | US        |     170000 | PA      | $170624.74    | 0.35%             | 2031-07-25      | Fixed         | 4.40%                 | No            | 2                  | On Loan: No      |
| WILDFIRE INTERMEDIATE HOLDINGS, LLC                | WILDFIRE INTERMEDIATE HOLDINGS LLC                 | CUSIP: 96812HAA6<br>LEI: 5493003RHEMQJZEXIR02 | Long             | DBT              | CORP              | US        |     132000 | PA      | $135479.92    | 0.28%             | 2029-10-15      | Fixed         | 7.50%                 | Yes           | 2                  | On Loan: No      |
| AVOLON HOLDINGS FUNDING LIMITED                    | AVOLON HOLDINGS FUNDING LTD                        | CUSIP: 05401AAX9<br>LEI: 635400ZRKEX9L1BKCH30 | Long             | DBT              | CORP              | KY        |     152000 | PA      | $155656.14    | 0.32%             | 2030-01-15      | Fixed         | 5.15%                 | Yes           | 2                  | On Loan: No      |
| WELLS FARGO BANK NA                                | WELLS FARGO BANK NA                                | CUSIP: 95004P233<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |       1100 | PA      | $255673.00    | 0.53%             | 2026-12-14      | Floating      | 14.81%                | No            | 2                  | On Loan: No      |
| MF1 LTD                                            | MF1 2021 FL7 LTD                                   | CUSIP: 55284AAA6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      38127 | PA      | $38118.16     | 0.08%             | 2036-10-16      | Floating      | 4.86%                 | Yes           | 2                  | On Loan: No      |
| VELOCITY COMMERCIAL CAPITAL LOAN TRUST             | VELOCITY COMMERCIAL CAPITAL LOAN TRUST 2025 1      | CUSIP: 922955AA7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     118185 | PA      | $120945.41    | 0.25%             | 2055-02-25      | Variable      | 6.03%                 | Yes           | 2                  | On Loan: No      |
| TORONTO DOMINION BANK THE                          | TORONTO DOMINION BANK THE                          | CUSIP: YQ0819090<br>LEI: N/A                  | Long             | DBT              | CORP              | CA        |       1700 | PA      | $168810.00    | 0.35%             | 2026-03-16      | Floating      | 10.68%                | No            | 2                  | On Loan: No      |
| MORGAN STANLEY                                     | MORGAN STANLEY                                     | CUSIP: 61762V861<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | EP               | CORP              | US        |       4484 | NS      | $80891.36     | 0.17%             |  |  |  | No            | 1                  | On Loan: No      |
| FORD MOTOR CREDIT COMPANY LLC                      | FORD MOTOR CREDIT CO LLC                           | CUSIP: 345397B69<br>LEI: UDSQCVRUX5BONN0VY111 | Long             | DBT              | CORP              | US        |     429000 | PA      | $399773.78    | 0.83%             | 2031-06-17      | Fixed         | 3.62%                 | No            | 2                  | On Loan: No      |
| BNP PARIBAS ISSUANCE BV                            | BNP PARIBAS ISSUANCE BV                            | CUSIP: YN3095349<br>LEI: N/A                  | Long             | DBT              | CORP              | NL        |       1500 | PA      | $161820.00    | 0.34%             | 2026-06-22      | Floating      | 17.02%                | Yes           | 2                  | On Loan: No      |
| VERUS SECURITIZATION TRUST                         | VERUS SECURITIZATION TRUST 2024 3                  | CUSIP: 92540MAD7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     160000 | PA      | $162316.56    | 0.34%             | 2069-04-25      | Variable      | 6.89%                 | Yes           | 2                  | On Loan: No      |
| SUMMIT MIDSTREAM HOLDINGS, LLC                     | SUMMIT MIDSTREAM HOLDINGS LLC                      | CUSIP: 86614JAA3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     220000 | PA      | $230256.40    | 0.48%             | 2029-10-31      | Fixed         | 8.62%                 | Yes           | 2                  | On Loan: No      |
| NOVELIS CORPORATION                                | NOVELIS CORP                                       | CUSIP: 670001AN6<br>LEI: 549300G5F3W3B52WYL23 | Long             | DBT              | CORP              | US        |     190000 | PA      | $192067.96    | 0.40%             | 2033-08-15      | Fixed         | 6.38%                 | Yes           | 2                  | On Loan: No      |
| BNP PARIBAS SA                                     | BNP PARIBAS SA                                     | CUSIP: 09659W3A0<br>LEI: R0MUWSFPU8MPRO8K5P83 | Long             | DBT              | CORP              | FR        |     215000 | PA      | $227716.68    | 0.47%             | 2033-01-13      | Fixed         | 5.79%                 | Yes           | 2                  | On Loan: No      |
| UNITI SERVICES LLC                                 | UNITI GROUP LP UNITI GROUP FINANCE 2019 INC CS     | CUSIP: 91327CAA6<br>LEI: 549300KT9GVEBYCD2N29 | Long             | DBT              | CORP              | US        |      90000 | PA      | $91278.64     | 0.19%             | 2032-06-15      | Fixed         | 8.62%                 | Yes           | 2                  | On Loan: No      |
| BHG SECURITIZATION TRUST                           | BHG SECURITIZATION TRUST 2022 C                    | CUSIP: 08860DAE3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     100000 | PA      | $108105.54    | 0.22%             | 2035-10-17      | Fixed         | 9.73%                 | Yes           | 2                  | On Loan: No      |
| AREIT LTD.                                         | AREIT 2025 CRE10 LTD                               | CUSIP: 00193DAA6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     330000 | PA      | $330519.42    | 0.69%             | 2029-12-17      | Floating      | 5.04%                 | Yes           | 2                  | On Loan: No      |
| RESORTS WORLD LAS VEGAS LLC                        | RESORTS WORLD LAS VEGAS LLC RWLV CAPITAL INC       | CUSIP: 76120HAD9<br>LEI: 254900LHVH9D3APT8R82 | Long             | DBT              | CORP              | US        |     200000 | PA      | $203840.40    | 0.42%             | 2030-07-27      | Fixed         | 8.45%                 | Yes           | 2                  | On Loan: No      |
| ANGEL OAK MORTGAGE TRUST                           | ANGEL OAK MORTGAGE TRUST 2025 HB2                  | CUSIP: 034648AA3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     103531 | PA      | $104254.70    | 0.22%             | 2055-12-25      | Floating      | 5.47%                 | Yes           | 2                  | On Loan: No      |
| Estados Unidos Mexicanos                           | MEXICO GOVERNMENT INTERNATIONAL BOND               | CUSIP: N/A<br>LEI: 254900EGTWEU67VP6075       | Long             | DBT              | NUSS              | MX        |     217000 | PA      | $261379.67    | 0.54%             | 2037-05-04      | Fixed         | 5.12%                 | No            | 2                  | On Loan: No      |
| JEFFERIES FINANCIAL GROUP INC.                     | JEFFERIES FINANCIAL GROUP INC                      | CUSIP: 47233WEJ4<br>LEI: 549300HOF34RGOJ5YL07 | Long             | DBT              | CORP              | US        |     275000 | PA      | $287593.41    | 0.60%             | 2034-04-14      | Fixed         | 6.20%                 | No            | 2                  | On Loan: No      |
| BELLEMEADE RE LTD.                                 | BELLEMEADE RE 2025 1 LTD                           | CUSIP: 07876NAB1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     150000 | PA      | $151319.48    | 0.31%             | 2035-10-25      | Floating      | 6.17%                 | Yes           | 2                  | On Loan: No      |
| CONNECTICUT AVENUE SECURITIES TRUST                | CONNECTICUT AVENUE SECURITIES TRUST 2024 R03       | CUSIP: 207941AA3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     225186 | PA      | $225186.10    | 0.47%             | 2044-03-25      | Floating      | 4.82%                 | Yes           | 2                  | On Loan: No      |
| ALLY FINANCIAL INC.                                | ALLY FINANCIAL INC                                 | CUSIP: 02005NBV1<br>LEI: 549300JBN1OSM8YNAI90 | Long             | DBT              | CORP              | US        |     160000 | PA      | $165156.37    | 0.34%             | 2035-07-26      | Fixed         | 6.18%                 | No            | 2                  | On Loan: No      |
| FREDDIE MAC STACR REMIC TRUST                      | FREDDIE MAC STACR REMIC TRUST 2025 HQA1            | CUSIP: 35564NHA4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      50000 | PA      | $50182.68     | 0.10%             | 2045-02-25      | Floating      | 5.32%                 | Yes           | 2                  | On Loan: No      |
| FREDDIE MAC STACR REMIC TRUST                      | FREDDIE MAC STACR TRUST 2019 FTR1                  | CUSIP: 35564PAC2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     170000 | PA      | $202773.20    | 0.42%             | 2048-01-25      | Floating      | 12.13%                | Yes           | 2                  | On Loan: No      |
| UBS Group AG                                       | UBS GROUP AG                                       | CUSIP: 902613BS6<br>LEI: 549300SZJ9VS8SGXAN81 | Long             | DBT              | CORP              | CH        |     227000 | PA      | $230576.68    | 0.48%             | 2199-12-31      | Fixed         | 7.00%                 | Yes           | 2                  | On Loan: No      |
| WELLS FARGO COMMERCIAL MORTGAGE TRUST              | WELLS FARGO COMMERCIAL MORTGAGE TRUST 2026 1250B   | CUSIP: 949939AE2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     100000 | PA      | $100305.49    | 0.21%             | 2041-03-10      | Variable      | 5.59%                 | Yes           | 2                  | On Loan: No      |
| United States of America                           | 2 YEAR US TREASURY NOTE FUTURE JUN26               | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              |  | US        |         36 | NC      | $13975.40     | 0.03%             |  |  |  | No            | 1                  | On Loan: No      |
| HILCORP ENERGY I, L.P.                             | HILCORP ENERGY I LP HILCORP FINANCE CO             | CUSIP: 431318BG8<br>LEI: 549300ITPIHLG0LHEC09 | Long             | DBT              | CORP              | US        |      45000 | PA      | $44569.44     | 0.09%             | 2035-02-15      | Fixed         | 7.25%                 | Yes           | 2                  | On Loan: No      |
| CONNECTICUT AVENUE SECURITIES TRUST                | CONNECTICUT AVENUE SECURITIES TRUST 2022 R02       | CUSIP: 20754BAJ0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     200000 | PA      | $209626.00    | 0.43%             | 2042-01-25      | Floating      | 11.32%                | Yes           | 2                  | On Loan: No      |
| Republique de Cote d'Ivoire                        | IVORY COAST GOVERNMENT INTERNATIONAL BOND          | CUSIP: BM7280605<br>LEI: 254900ICW11T82O6H590 | Long             | DBT              | NUSS              | CI        |     228000 | PA      | $263533.34    | 0.55%             | 2032-01-30      | Fixed         | 4.88%                 | Yes           | 2                  | On Loan: No      |
| JP MORGAN STRUCTURED PRODUCTS BV                   | JP MORGAN STRUCTURED PRODUCTS BV                   | CUSIP: YP3214432<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |        300 | PA      | $183724.63    | 0.38%             | 2026-04-20      | None          | 0.00%                 | No            | 2                  | On Loan: No      |
| CONNECTICUT AVENUE SECURITIES TRUST                | CONNECTICUT AVENUE SECURITIES TRUST 2024 R01       | CUSIP: 20753UAJ9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     180000 | PA      | $190119.98    | 0.39%             | 2044-01-25      | Floating      | 7.67%                 | Yes           | 2                  | On Loan: No      |
| Meiji Yasuda Life Insurance Company                | MEIJI YASUDA LIFE INSURANCE CO                     | CUSIP: 585270AE1<br>LEI: 549300SLU4LP6YMRLK07 | Long             | DBT              | CORP              | JP        |     543000 | PA      | $562553.97    | 1.17%             | 2055-06-11      | Fixed         | 6.10%                 | Yes           | 2                  | On Loan: No      |
| DEUTSCHE BANK AG NEW YORK BRANCH                   | DEUTSCHE BANK AG NEW YORK NY                       | CUSIP: 251526DD8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     150000 | PA      | $150860.00    | 0.31%             | 2031-12-10      | Fixed         | 4.47%                 | No            | 2                  | On Loan: No      |
| CELANESE US HOLDINGS LLC                           | CELANESE US HOLDINGS LLC                           | CUSIP: 15089QAY0<br>LEI: CD30XVRLT4QO00B1C706 | Long             | DBT              | CORP              | US        |     165000 | PA      | $177267.09    | 0.37%             | 2033-11-15      | Variable      | 7.20%                 | No            | 2                  | On Loan: No      |
| MFA TRUST                                          | MFRA 2024 NQM3 TRUST                               | CUSIP: 55287GAE2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     180000 | PA      | $183708.49    | 0.38%             | 2069-12-25      | Fixed         | 7.61%                 | Yes           | 2                  | On Loan: No      |
| FREDDIE MAC STACR REMIC TRUST                      | FREDDIE MAC STACR REMIC TRUST 2021 DNA5            | CUSIP: 35564KJB6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     140000 | PA      | $169768.07    | 0.35%             | 2034-01-25      | Floating      | 5.32%                 | Yes           | 2                  | On Loan: No      |
| ALPHABET INC.                                      | ALPHABET INC                                       | CUSIP: 02079KBN6<br>LEI: 5493006MHB84DD0ZWV18 | Long             | DBT              | CORP              | US        |     225000 | PA      | $229117.30    | 0.48%             | 2046-02-15      | Fixed         | 5.50%                 | No            | 2                  | On Loan: No      |
| META PLATFORMS, INC.                               | META PLATFORMS INC                                 | CUSIP: 30303MAE2<br>LEI: BQ4BKCS1HXDV9HN80Z93 | Long             | DBT              | CORP              | US        |     115000 | PA      | $112564.90    | 0.23%             | 2055-11-15      | Fixed         | 5.62%                 | No            | 2                  | On Loan: No      |
| ONEMAIN FINANCE CORP                               | ONEMAIN FINANCE CORP                               | CUSIP: 682691AM2<br>LEI: 5493008I795YYBFWFU90 | Long             | DBT              | CORP              | US        |     200000 | PA      | $198178.00    | 0.41%             | 2033-03-15      | Fixed         | 6.50%                 | No            | 2                  | On Loan: No      |
| LMRE TRUST                                         | LMRE 2025 SFR1 TRUST                               | CUSIP: 50208WAD6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     230000 | PA      | $227516.16    | 0.47%             | 2042-12-09      | Fixed         | 5.35%                 | Yes           | 2                  | On Loan: No      |
| ARCLIN US HOLDING                                  | ARCLIN US HOLDING                                  | CUSIP: 03881HAA8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     880000 | PA      | $880000.00    | 1.83%             | 2031-03-02      | Fixed         | 9.00%                 | No            | 3                  | On Loan: No      |
| COLUMBIA PIPELINES HOLDING COMPANY LLC             | COLUMBIA PIPELINES HOLDING CO LLC                  | CUSIP: 19828AAF4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     235000 | PA      | $239737.26    | 0.50%             | 2032-11-17      | Fixed         | 5.00%                 | Yes           | 2                  | On Loan: No      |
| GOLDMAN SACHS INTERNATIONAL                        | GOLDMAN SACHS INTERNATIONAL                        | CUSIP: 38149C410<br>LEI: N/A                  | Long             | DBT              | CORP              | GB        |       1700 | PA      | $191275.50    | 0.40%             | 2026-03-20      | Floating      | 10.60%                | No            | 2                  | On Loan: No      |
| Allianz SE                                         | ALLIANZ SE                                         | CUSIP: 018820AE0<br>LEI: 529900K9B0N5BT694847 | Long             | DBT              | CORP              | DE        |     400000 | PA      | $414647.60    | 0.86%             | 2199-12-31      | Fixed         | 6.55%                 | Yes           | 2                  | On Loan: No      |
| CITADEL SECURITIES GLOBAL HOLDINGS LLC             | CITADEL SECURITIES GLOBAL HOLDINGS LLC             | CUSIP: 17289RAB2<br>LEI: 549300NV5RXBUS3X7L47 | Long             | DBT              | CORP              | US        |     260000 | PA      | $274904.21    | 0.57%             | 2035-06-18      | Fixed         | 6.20%                 | Yes           | 2                  | On Loan: No      |
| VEROS AUTO RECEIVABLES TRUST                       | VEROS AUTO RECEIVABLES TRUST 2024 1                | CUSIP: 92512WAC1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     210000 | PA      | $216159.87    | 0.45%             | 2028-12-15      | Fixed         | 7.57%                 | Yes           | 2                  | On Loan: No      |
| Blue Ridge Re Ltd.                                 | BLUE RIDGE RE LTD                                  | CUSIP: 096003AC2<br>LEI: N/A                  | Long             | DBT              | CORP              | BM        |     250000 | PA      | $251625.00    | 0.52%             | 2029-01-08      | Variable      | 5.67%                 | Yes           | 2                  | On Loan: No      |
| Merrill Lynch B.V.                                 | MERRILL LYNCH BV                                   | CUSIP: N/A<br>LEI: 549300RQ1D1WIE085245       | Long             | DBT              | CORP              | NL        |       1800 | PA      | $126558.00    | 0.26%             | 2026-04-13      | Fixed         | 16.49%                | No            | 2                  | On Loan: No      |
| Freddie Mac                                        | FREDDIE MAC MULTIFAMILY STRUCTURED CREDIT RISK     | CUSIP: 35563FAC5<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |      50000 | PA      | $55505.60     | 0.12%             | 2051-01-25      | Floating      | 11.42%                | Yes           | 2                  | On Loan: No      |
| BSPRT ISSUER, LTD.                                 | BSPRT 2022 FL8 ISSUER LTD                          | CUSIP: 055983AG5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     110000 | PA      | $109894.95    | 0.23%             | 2037-02-15      | Floating      | 5.96%                 | Yes           | 2                  | On Loan: No      |
| GREAT BRITISH POUND                                | GREAT BRITISH POUND                                | CUSIP: N/A<br>LEI: N/A                        | N/A              |  |  | GB        |       1731 | NS      | $2332.45      | 0.00%             |  |  |  | No            | N/A                | On Loan: No      |
| BNP PARIBAS SA                                     | BNP PARIBAS SA                                     | CUSIP: 05602XQQ4<br>LEI: R0MUWSFPU8MPRO8K5P83 | Long             | DBT              | CORP              | FR        |     200000 | PA      | $211290.20    | 0.44%             | 2199-12-31      | Fixed         | 7.45%                 | Yes           | 2                  | On Loan: No      |
| BX COMMERCIAL MORTGAGE TRUST                       | BX COMMERCIAL MORTGAGE TRUST 2024 SLCT             | CUSIP: 12433JAQ3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     390000 | PA      | $391539.21    | 0.81%             | 2042-01-15      | Floating      | 7.05%                 | Yes           | 2                  | On Loan: No      |
| FREDDIE MAC STACR REMIC TRUST                      | FEDERAL HOME LOAN MORTGAGE CORP                    | CUSIP: 35565EAE2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     240000 | PA      | $262062.07    | 0.54%             | 2047-09-25      | Floating      | 8.58%                 | Yes           | 2                  | On Loan: No      |
| PRESTIGE AUTO RECEIVABLES TRUST                    | PRESTIGE AUTO RECEIVABLES TRUST 2021 1             | CUSIP: 74113XAG1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     200000 | PA      | $197124.86    | 0.41%             | 2029-03-15      | Fixed         | 3.47%                 | Yes           | 2                  | On Loan: No      |
| United States of America                           | US 10YR ULTRA FUT JUN26                            | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              |  | US        |        -78 | NC      | $-70895.74    | -0.15%            |  |  |  | No            | 1                  | On Loan: No      |
| United States of America                           | ULTRA LONG TERM US TREASURY BOND FUTURE JUN26      | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              |  | US        |        -18 | NC      | $-21702.80    | -0.05%            |  |  |  | No            | 1                  | On Loan: No      |
| CITIGROUP INC.                                     | CITIGROUP INC                                      | CUSIP: 172967PU9<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |     202000 | PA      | $211988.45    | 0.44%             | 2036-01-24      | Fixed         | 6.02%                 | No            | 2                  | On Loan: No      |
| Sumitomo Mitsui Financial Group, Inc.              | SUMITOMO MITSUI FINANCIAL GROUP INC                | CUSIP: 86562MEK2<br>LEI: 35380028MYWPB6AUO129 | Long             | DBT              | CORP              | JP        |     290000 | PA      | $291164.48    | 0.60%             | 2041-03-03      | Fixed         | 5.33%                 | No            | 2                  | On Loan: No      |
| United States of America                           | UNITED STATES TREASURY BILL                        | CUSIP: 912797SY4<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |     750000 | PA      | $749395.55    | 1.55%             | 2026-03-10      | None          | 0.00%                 | No            | 2                  | On Loan: No      |
| Gobierno de la Republica Dominicana                | DOMINICAN REPUBLIC INTERNATIONAL BOND              | CUSIP: 25714PFF0<br>LEI: 254900EHU7Q8FGVPI369 | Long             | DBT              | NUSS              | DO        |     190000 | PA      | $189772.00    | 0.39%             | 2035-10-28      | Fixed         | 5.88%                 | Yes           | 2                  | On Loan: No      |
| IMPERIAL FUND MORTGAGE TRUST                       | IMPERIAL FUND MORTGAGE TRUST 2022 NQM5             | CUSIP: 45276QAE4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     110000 | PA      | $109720.20    | 0.23%             | 2067-08-25      | Fixed         | 6.25%                 | Yes           | 2                  | On Loan: No      |
| AMERICAN ELECTRIC POWER COMPANY, INC.              | AMERICAN ELECTRIC POWER CO INC                     | CUSIP: 02557TAF6<br>LEI: 1B4S6S7G0TW5EE83BO58 | Long             | DBT              | CORP              | US        |     155000 | PA      | $155544.83    | 0.32%             | 2056-03-15      | Fixed         | 6.05%                 | No            | 2                  | On Loan: No      |
| BANK OF AMERICA CORPORATION                        | BANK OF AMERICA CORP                               | CUSIP: 06055H202<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | EP               | CORP              | US        |       3991 | NS      | $85088.12     | 0.18%             |  |  |  | No            | 1                  | On Loan: No      |
| LONDON BRIDGE 2 PCC LIMITED                        | FUCHSIA 2023 1 LONDON BRIDGE 2 PCC LTD             | CUSIP: 541917AA8<br>LEI: 549300TUFAUPZXE4UR14 | Long             | DBT              | CORP              | GB        |     250000 | PA      | $257425.00    | 0.53%             | 2033-04-06      | Variable      | 8.90%                 | Yes           | 2                  | On Loan: No      |
| ACREC LTD                                          | ACREC 2025 FL 3 LLC                                | CUSIP: 00112HAA5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     200000 | PA      | $199999.40    | 0.41%             | 2042-08-18      | Floating      | 4.97%                 | Yes           | 2                  | On Loan: No      |
| VERUS SECURITIZATION TRUST                         | VERUS SECURITIZATION TRUST 2023 8                  | CUSIP: 92540DAE5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     330000 | PA      | $335047.48    | 0.70%             | 2068-12-25      | Variable      | 8.08%                 | Yes           | 2                  | On Loan: No      |
| PETCO HEALTH AND WELLNESS COMPANY, INC.            | PETCO HEALTH WELLNESS CO INC                       | CUSIP: 71601VAA3<br>LEI: 2549007TYGV6RVSE9M61 | Long             | DBT              | CORP              | US        |      30000 | PA      | $29299.03     | 0.06%             | 2031-02-01      | Fixed         | 8.25%                 | Yes           | 2                  | On Loan: No      |
| MACQUARIE BANK LIMITED                             | MACQUARIE BANK LTD                                 | CUSIP: 556079AG6<br>LEI: 4ZHCHI4KYZG2WVRT8631 | Long             | DBT              | CORP              | AU        |     200000 | PA      | $205726.63    | 0.43%             | 2036-08-13      | Fixed         | 5.64%                 | Yes           | 2                  | On Loan: No      |
| OMNICOM GROUP INC.                                 | OMNICOM GROUP INC                                  | CUSIP: 681919BW5<br>LEI: HKUPACFHSSASQK8HLS17 | Long             | DBT              | CORP              | US        |     260000 | PA      | $260034.39    | 0.54%             | 2033-06-02      | Fixed         | 5.00%                 | No            | 2                  | On Loan: No      |
| MIZUHO MARKETS CAYMAN LP                           | MIZUHO MARKETS CAYMAN LP                           | CUSIP: 60701B127<br>LEI: N/A                  | Long             | DBT              | CORP              | JP        |       4800 | PA      | $187833.60    | 0.39%             | 2026-10-22      | Floating      | 12.54%                | No            | 2                  | On Loan: No      |
| THE DAI-ICHI LIFE INSURANCE COMPANY, LIMITED.      | DAI ICHI LIFE INSURANCE CO LTD THE                 | CUSIP: 23381LAA2<br>LEI: 3538001235ACEIORUV72 | Long             | DBT              | CORP              | JP        |     510000 | PA      | $531580.65    | 1.10%             | 2199-12-31      | Fixed         | 6.20%                 | Yes           | 2                  | On Loan: No      |
| ROYAL BANK OF CANADA                               | ROYAL BANK OF CANADA                               | CUSIP: C79875172<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |       1100 | PA      | $290295.50    | 0.60%             | 2027-02-26      | Floating      | 14.81%                | No            | 2                  | On Loan: No      |
| Estados Unidos Mexicanos                           | UNITED MEXICAN STATES                              | CUSIP: 91087BBR0<br>LEI: 254900EGTWEU67VP6075 | Long             | DBT              | NUSS              | MX        |     200000 | PA      | $202470.00    | 0.42%             | 2038-02-09      | Fixed         | 6.12%                 | No            | 2                  | On Loan: No      |
| Republica Federativa do Brasil                     | BRAZILIAN GOVERNMENT INTERNATIONAL BOND            | CUSIP: 105756CQ1<br>LEI: 254900ZFY40OYEADAP90 | Long             | DBT              | NUSS              | BR        |     570000 | PA      | $574389.00    | 1.19%             | 2036-05-22      | Fixed         | 6.25%                 | No            | 2                  | On Loan: No      |
| Highwoods Realty Limited Partnership               | HIGHWOODS REALTY LP                                | CUSIP: 431282AV4<br>LEI: JUJNVZX73BIYHLR58F51 | Long             | DBT              | CORP              | US        |      35000 | PA      | $35210.02     | 0.07%             | 2033-01-15      | Fixed         | 5.35%                 | No            | 2                  | On Loan: No      |
| Wynn Macau, Limited                                | WYNN MACAU LTD                                     | CUSIP: 98313RAL0<br>LEI: 254900NMDQ8ENTHU1I31 | Long             | DBT              | CORP              | KY        |     200000 | PA      | $202717.97    | 0.42%             | 2034-02-15      | Fixed         | 6.75%                 | Yes           | 2                  | On Loan: No      |
| European Bank for Reconstruction and Development   | EUROPEAN BANK FOR RECONSTRUCTION DEVELOPMENT       | CUSIP: N/A<br>LEI: 549300HTGDOVDU6OGK19       | Long             | DBT              |  | GB        |    3565000 | PA      | $364395.38    | 0.76%             | 2032-02-02      | None          | 0.00%                 | No            | 2                  | On Loan: No      |
| 1261229 B.C. LTD.                                  | 1261229 BC LTD                                     | CUSIP: C6903HAB0<br>LEI: N/A                  | Long             | LON              | CORP              | CA        |     233825 | PA      | $228466.43    | 0.47%             | 2030-10-08      | Floating      | 9.92%                 | No            | 2                  | On Loan: No      |
| VENTURE GLOBAL PLAQUEMINES LNG, LLC                | VENTURE GLOBAL PLAQUEMINES LNG LLC                 | CUSIP: 922966AD8<br>LEI: 549300TKP4I6OJ02BF90 | Long             | DBT              | CORP              | US        |     140000 | PA      | $149129.54    | 0.31%             | 2036-01-15      | Fixed         | 6.75%                 | Yes           | 2                  | On Loan: No      |
| Republica de Colombia                              | COLOMBIA GOVERNMENT INTERNATIONAL BOND             | CUSIP: 195325EU5<br>LEI: 549300MHDRBVRF6B9117 | Long             | DBT              | NUSS              | CO        |     200000 | PA      | $199530.00    | 0.41%             | 2031-01-21      | Fixed         | 6.12%                 | No            | 2                  | On Loan: No      |
| ALBERTSONS COMPANIES, INC.                         | ALBERTSONS COS INC                                 | CUSIP: 01309QAD0<br>LEI: 549300YKWOC0AOR16R51 | Long             | DBT              | CORP              | US        |     155000 | PA      | $154229.31    | 0.32%             | 2034-03-31      | Fixed         | 5.75%                 | Yes           | 2                  | On Loan: No      |
| RGA GLOBAL FUNDING                                 | RGA GLOBAL FUNDING                                 | CUSIP: 76209PAJ2<br>LEI: 549300Y22K5FOEBMSK42 | Long             | DBT              | CORP              | US        |     105000 | PA      | $106863.87    | 0.22%             | 2032-08-25      | Fixed         | 5.00%                 | Yes           | 2                  | On Loan: No      |
| Lightning Re Ltd.                                  | LIGHTNING RE SERIES                                | CUSIP: 532242AA2<br>LEI: N/A                  | Long             | DBT              | CORP              | BM        |     250000 | PA      | $251700.00    | 0.52%             | 2030-03-31      | Variable      | 14.90%                | Yes           | 2                  | On Loan: No      |
| GENERAL MOTORS FINANCIAL COMPANY, INC.             | GENERAL MOTORS FINANCIAL CO                        | CUSIP: 37045XFC5<br>LEI: 5493008B6JBRUJ90QL97 | Long             | DBT              | CORP              | US        |     440000 | PA      | $462477.95    | 0.96%             | 2035-01-07      | Fixed         | 5.90%                 | No            | 2                  | On Loan: No      |
| VORNADO REALTY L.P.                                | VORNADO REALTY LP                                  | CUSIP: 929043AN7<br>LEI: 549300BMOJ05INE4YK86 | Long             | DBT              | CORP              | US        |      35000 | PA      | $35511.45     | 0.07%             | 2033-02-01      | Fixed         | 5.75%                 | No            | 2                  | On Loan: No      |
| KOREAN WON                                         | KOREAN WON                                         | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | KR        | -215000000 | OU      | $3009.19      | 0.01%             |  |  |  | No            | 2                  | On Loan: No      |
| FOUNDRY JV HOLDCO LLC                              | FOUNDRY JV HOLDCO LLC                              | CUSIP: 350930AK9<br>LEI: 21380048QROAMGM6EP30 | Long             | DBT              | CORP              | US        |     200000 | PA      | $216303.98    | 0.45%             | 2039-01-25      | Fixed         | 6.30%                 | Yes           | 2                  | On Loan: No      |
| MIZUHO MARKETS CAYMAN LP                           | MIZUHO MARKETS CAYMAN LP                           | CUSIP: 318053626<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |        600 | PA      | $235906.20    | 0.49%             | 2027-03-11      | None          | 0.00%                 | No            | 2                  | On Loan: No      |
| Baldwin Re Ltd.                                    | BALDWIN RE LTD                                     | CUSIP: 05826BAC0<br>LEI: N/A                  | Long             | DBT              | CORP              | BM        |     250000 | PA      | $255625.00    | 0.53%             | 2032-07-09      | Variable      | 7.81%                 | Yes           | 2                  | On Loan: No      |
| RHP HOTEL PROPERTIES, LP                           | RHP HOTEL PROPERTIES LP RHP FINANCE CORP           | CUSIP: 74984CAA6<br>LEI: 549300SJMSMA2471GA96 | Long             | DBT              | CORP              | US        |      50000 | PA      | $50364.80     | 0.10%             | 2034-03-15      | Fixed         | 5.75%                 | Yes           | 2                  | On Loan: No      |
| NIPPON LIFE INSURANCE COMPANY                      | NIPPON LIFE INSURANCE CO                           | CUSIP: 654579AP6<br>LEI: 549300Y0HHMFW3EVWY08 | Long             | DBT              | CORP              | JP        |     228000 | PA      | $245037.98    | 0.51%             | 2055-04-30      | Fixed         | 6.50%                 | Yes           | 2                  | On Loan: No      |
| MERCHANTS FLEET FUNDING LLC                        | MERCHANTS FLEET FUNDING LLC                        | CUSIP: 588926AP0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     150000 | PA      | $152018.18    | 0.32%             | 2039-01-20      | Fixed         | 5.76%                 | Yes           | 2                  | On Loan: No      |
| CREDIT AGRICOLE SA                                 | CREDIT AGRICOLE SA                                 | CUSIP: 22535WAU1<br>LEI: 969500TJ5KRTCJQWXH05 | Long             | DBT              | CORP              | FR        |     370000 | PA      | $373788.14    | 0.78%             | 2037-01-12      | Fixed         | 5.26%                 | Yes           | 2                  | On Loan: No      |
| UNITED AIRLINES HOLDINGS, INC.                     | UNITED AIRLINES HOLDINGS INC                       | CUSIP: 910047AL3<br>LEI: 98450079DA0B78DD6764 | Long             | DBT              | CORP              | US        |      30000 | PA      | $30586.79     | 0.06%             | 2031-03-01      | Fixed         | 5.38%                 | No            | 2                  | On Loan: No      |
| FIRST QUANTUM MINERALS LTD.                        | FIRST QUANTUM MINERALS LTD                         | CUSIP: 335934AY1<br>LEI: 549300I7UVBGWRYMYZ18 | Long             | DBT              | CORP              | CA        |     200000 | PA      | $200625.56    | 0.42%             | 2036-02-15      | Fixed         | 6.38%                 | Yes           | 2                  | On Loan: No      |
| U.S. ACUTE CARE SOLUTIONS, LLC                     | US ACUTE CARE SOLUTIONS LLC                        | CUSIP: 90367UAD3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     154000 | PA      | $154048.05    | 0.32%             | 2029-05-15      | Fixed         | 9.75%                 | Yes           | 2                  | On Loan: No      |
| ACHM TRUST                                         | ACHM TRUST 2025 HE3                                | CUSIP: 00449VAA8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     116997 | PA      | $118617.73    | 0.25%             | 2055-11-25      | Variable      | 5.20%                 | Yes           | 2                  | On Loan: No      |
| BWAY MORTGAGE TRUST                                | BWAY 2013 1515 MORTGAGE TRUST                      | CUSIP: 05604FAJ4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     110000 | PA      | $104434.78    | 0.22%             | 2033-03-10      | Fixed         | 3.47%                 | Yes           | 2                  | On Loan: No      |
| Pemerintah Republik Indonesia                      | INDONESIA GOVERNMENT INTERNATIONAL BOND            | CUSIP: N/A<br>LEI: 529900FWX0GRR7WG5W79       | Long             | DBT              | NUSS              | ID        |     550000 | PA      | $653335.59    | 1.36%             | 2038-03-04      | Fixed         | 4.46%                 | No            | 2                  | On Loan: No      |
| CONNECTICUT AVENUE SECURITIES TRUST                | CONNECTICUT AVENUE SECURITIES TRUST 2020 R01       | CUSIP: 20754CAF6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     150000 | PA      | $152678.81    | 0.32%             | 2040-01-25      | Floating      | 7.03%                 | Yes           | 2                  | On Loan: No      |
| HOME RE LIMITED                                    | HOME RE 2026 1 LTD                                 | CUSIP: 436956AD8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     150000 | PA      | $151929.06    | 0.32%             | 2036-01-25      | Floating      | 6.90%                 | Yes           | 2                  | On Loan: No      |
| THERMO FISHER SCIENTIFIC INCORPORATED              | THERMO FISHER SCIENTIFIC INC                       | CUSIP: 883556DH2<br>LEI: HCHV7422L5HDJZCRFL38 | Long             | DBT              | CORP              | US        |      85000 | PA      | $85965.57     | 0.18%             | 2033-06-15      | Fixed         | 4.55%                 | No            | 2                  | On Loan: No      |
| COLT MORTGAGE LOAN TRUST                           | COLT 2024 5 MORTGAGE LOAN TRUST                    | CUSIP: 19685AAE9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     140000 | PA      | $142677.54    | 0.30%             | 2069-08-25      | Fixed         | 7.30%                 | Yes           | 2                  | On Loan: No      |
| Bonanza Re Ltd                                     | BONANZA RE LTD                                     | CUSIP: 09785EAQ4<br>LEI: 5493003F0CXUQ2C83105 | Long             | DBT              | CORP              | BM        |     250000 | PA      | $253375.00    | 0.53%             | 2027-12-19      | Variable      | 9.46%                 | Yes           | 2                  | On Loan: No      |
| JP MORGAN STRUCTURED PRODUCTS BV                   | JP MORGAN STRUCTURED PRODUCTS BV                   | CUSIP: YR7208790<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |       1500 | PA      | $180292.04    | 0.37%             | 2026-03-02      | None          | 0.00%                 | No            | 2                  | On Loan: No      |
| HSBC HOLDINGS PLC                                  | HSBC HOLDINGS PLC                                  | CUSIP: 404280EV7<br>LEI: MLU0ZO3ML4LN2LL2TL39 | Long             | DBT              | CORP              | GB        |     285000 | PA      | $297672.24    | 0.62%             | 2199-12-31      | Fixed         | 6.95%                 | No            | 2                  | On Loan: No      |
| HYUNDAI CAPITAL AMERICA                            | HYUNDAI CAPITAL AMERICA                            | CUSIP: 44891AEA1<br>LEI: 549300RIPPWJB5Z0FK07 | Long             | DBT              | CORP              | US        |      70000 | PA      | $70672.59     | 0.15%             | 2030-09-18      | Fixed         | 4.50%                 | Yes           | 2                  | On Loan: No      |
| HILCORP ENERGY I, L.P.                             | HILCORP ENERGY I LP HILCORP FINANCE CO             | CUSIP: 431318AZ7<br>LEI: 549300ITPIHLG0LHEC09 | Long             | DBT              | CORP              | US        |     179000 | PA      | $174185.10    | 0.36%             | 2032-04-15      | Fixed         | 6.25%                 | Yes           | 2                  | On Loan: No      |
| HSBC BANK PLC                                      | HSBC BANK PLC                                      | CUSIP: YN9344188<br>LEI: N/A                  | Long             | DBT              | CORP              | GB        |      13200 | PA      | $178777.90    | 0.37%             | 2026-07-13      | None          | 0.00%                 | No            | 2                  | On Loan: No      |
| TALEN ENERGY SUPPLY, LLC                           | TALEN ENERGY SUPPLY LLC                            | CUSIP: 87422VAM0<br>LEI: K5K33XN0PQAU1XF7NN66 | Long             | DBT              | CORP              | US        |      90000 | PA      | $91583.52     | 0.19%             | 2034-02-01      | Fixed         | 6.25%                 | Yes           | 2                  | On Loan: No      |
| Grupo Aeromexico, S.A.B. de C.V.                   | GRUPO AEROMEXICO SAB DE CV                         | CUSIP: 40054JAD1<br>LEI: N/A                  | Long             | DBT              | CORP              | MX        |     345000 | PA      | $354056.25    | 0.73%             | 2031-11-15      | Fixed         | 8.62%                 | Yes           | 2                  | On Loan: No      |
| Saudi Arabian Oil Company                          | SAUDI ARABIAN OIL CO                               | CUSIP: 80414L3F0<br>LEI: 5586006WD91QHB7J4X50 | Long             | DBT              |  | SA        |     230000 | PA      | $242388.32    | 0.50%             | 2055-06-02      | Fixed         | 6.38%                 | Yes           | 2                  | On Loan: No      |
| FIGRE TRUST                                        | FIGRE TRUST 2025 HE6                               | CUSIP: 31684NAA5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     115498 | PA      | $116238.95    | 0.24%             | 2055-09-25      | Variable      | 5.04%                 | Yes           | 2                  | On Loan: No      |
| U.S. BANCORP                                       | US BANCORP                                         | CUSIP: 902973734<br>LEI: N1GZ7BBF3NP8GI976H15 | Long             | EP               | CORP              | US        |       1130 | NS      | $17616.70     | 0.04%             |  |  |  | No            | 1                  | On Loan: No      |
| TRICON RESIDENTIAL TRUST                           | TRICON RESIDENTIAL 2025 SFR1 TRUST                 | CUSIP: 895974AD5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     100000 | PA      | $100187.43    | 0.21%             | 2042-03-17      | Floating      | 5.67%                 | Yes           | 2                  | On Loan: No      |
| CONNECTICUT AVENUE SECURITIES TRUST                | CONNECTICUT AVENUE SECURITIES TRUST 2025 R06       | CUSIP: 20754YAB7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      81069 | PA      | $81255.93     | 0.17%             | 2045-09-25      | Floating      | 4.62%                 | Yes           | 2                  | On Loan: No      |
| AMERICAN CREDIT ACCEPTANCE RECEIVABLES TRUST       | AMERICAN CREDIT ACCEPTANCE RECEIVABLES TRUST 2025  | CUSIP: 024948AG6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     100000 | PA      | $101694.82    | 0.21%             | 2031-09-12      | Fixed         | 5.25%                 | Yes           | 2                  | On Loan: No      |
| Total Play Telecomunicaciones S.A.P.I. de C.V.     | TOTAL PLAY TELECOMUNICACIONES SA DE CV             | CUSIP: 89157PAD0<br>LEI: 4469000001BSAPAMOQ06 | Long             | DBT              | CORP              | MX        |     435000 | PA      | $413685.00    | 0.86%             | 2032-12-31      | Fixed         | 11.12%                | Yes           | 2                  | On Loan: No      |
| WELLS FARGO & COMPANY                              | WELLS FARGO COMPANY                                | CUSIP: 95002Y400<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | EP               | CORP              | US        |       2308 | NS      | $41336.28     | 0.09%             |  |  |  | No            | 1                  | On Loan: No      |
| CDX CDX NAHYS45V1 5Y                               | CDX CDX NAHYS45V1 5Y                               | CUSIP: N/A<br>LEI: N/A                        | N/A              | DCR              |  | US        |   -4603500 | OU      | $311510.10    | 0.65%             |  |  |  | No            | 2                  | On Loan: No      |
| LOANCORE ISSUER LTD                                | LOANCORE 2025 2025 CRE8 ISSUER LLC                 | CUSIP: 53947FAA9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     100000 | PA      | $100012.80    | 0.21%             | 2042-08-17      | Floating      | 5.04%                 | Yes           | 2                  | On Loan: No      |
| ORACLE CORPORATION                                 | ORACLE CORP                                        | CUSIP: 68389XDR3<br>LEI: 1Z4GXXU7ZHVWFCD8TV52 | Long             | DBT              | CORP              | US        |     151000 | PA      | $132879.04    | 0.28%             | 2055-09-26      | Fixed         | 5.95%                 | No            | 2                  | On Loan: No      |
| FREEDOM MORTGAGE HOLDINGS LLC                      | FREEDOM MORTGAGE HOLDINGS LLC                      | CUSIP: 35641AAC2<br>LEI: 254900ROJ91RGM43S156 | Long             | DBT              | CORP              | US        |      25000 | PA      | $25187.50     | 0.05%             | 2032-04-01      | Fixed         | 8.38%                 | Yes           | 2                  | On Loan: No      |
| ARBOR REALTY COMMERCIAL REAL ESTATE NOTES LTD      | ARBOR REALTY COLLATERALIZED LOAN OBLIGATION LTD    | CUSIP: 03881UAJ0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     160000 | PA      | $160999.54    | 0.33%             | 2041-01-18      | Floating      | 6.86%                 | Yes           | 2                  | On Loan: No      |
| AVIANCA MIDCO 2 PLC                                | AVIANCA MIDCO 2 PLC                                | CUSIP: 05369YAD1<br>LEI: N/A                  | Long             | DBT              | CORP              | GB        |     200000 | PA      | $202000.00    | 0.42%             | 2031-01-28      | Fixed         | 9.50%                 | Yes           | 2                  | On Loan: No      |
| CONNECTICUT AVENUE SECURITIES TRUST                | CONNECTICUT AVENUE SECURITIES TRUST 2025 R06       | CUSIP: 20754YAA9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      82458 | PA      | $82472.49     | 0.17%             | 2045-09-25      | Floating      | 4.57%                 | Yes           | 2                  | On Loan: No      |
| ENERGY TRANSFER LP                                 | ENERGY TRANSFER LP                                 | CUSIP: 29273VBK5<br>LEI: MTLVN9N7JE8MIBIJ1H73 | Long             | DBT              | CORP              | US        |      55000 | PA      | $55918.30     | 0.12%             | 2036-01-15      | Fixed         | 5.35%                 | No            | 2                  | On Loan: No      |
| METLIFE, INC.                                      | METLIFE INC                                        | CUSIP: 59156RCR7<br>LEI: C4BXATY60WC6XEOZDX54 | Long             | DBT              | CORP              | US        |     110000 | PA      | $109223.92    | 0.23%             | 2056-03-15      | Fixed         | 5.85%                 | No            | 2                  | On Loan: No      |
| Spire Inc.                                         | SPIRE INC                                          | CUSIP: 84857LAE1<br>LEI: 549300NXSY15DRY2R511 | Long             | DBT              | CORP              | US        |      65000 | PA      | $66393.86     | 0.14%             | 2056-06-01      | Fixed         | 6.45%                 | No            | 2                  | On Loan: No      |
| LOANCORE ISSUER LTD                                | LOANCORE 2025 CRE9 ISSUER LLC                      | CUSIP: 538912AA4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     130000 | PA      | $130162.70    | 0.27%             | 2042-08-18      | Floating      | 5.11%                 | Yes           | 2                  | On Loan: No      |
| GRUPO NUTRESA S.A.                                 | GRUPO NUTRESA SA                                   | CUSIP: 40055CAB9<br>LEI: 254900KKAX7B7RJUE255 | Long             | DBT              | CORP              | CO        |     400000 | PA      | $459400.00    | 0.95%             | 2035-05-12      | Fixed         | 9.00%                 | Yes           | 2                  | On Loan: No      |
| AREIT LTD.                                         | AREIT 2025 CRE11                                   | CUSIP: 04002DAA9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     150000 | PA      | $150281.55    | 0.31%             | 2043-06-18      | Floating      | 5.23%                 | Yes           | 2                  | On Loan: No      |
| Republica de Chile                                 | CHILE GOVERNMENT INTERNATIONAL BOND                | CUSIP: N/A<br>LEI: 549300FLZTJM5YJF8D34       | Long             | DBT              | NUSS              | CL        |     255000 | PA      | $304344.02    | 0.63%             | 2036-04-14      | Fixed         | 3.88%                 | No            | 2                  | On Loan: No      |
| Galileo Re Ltd.                                    | GALILEO RE LTD                                     | CUSIP: 36354TAQ5<br>LEI: 549300MXI75DHMS7JH38 | Long             | DBT              | CORP              | BM        |     250000 | PA      | $248650.00    | 0.52%             | 2034-10-09      | Variable      | 5.48%                 | Yes           | 2                  | On Loan: No      |
| BRAVO RESIDENTIAL FUNDING TRUST                    | BRAVO RESIDENTIAL FUNDING TRUST 2024 NQM5          | CUSIP: 105925AF8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     180000 | PA      | $184315.16    | 0.38%             | 2064-06-25      | Variable      | 8.07%                 | Yes           | 2                  | On Loan: No      |
| ARBOR REALTY COMMERCIAL REAL ESTATE NOTES LTD      | ARBOR REALTY COMMERCIAL REAL ESTATE NOTES 2021 FL4 | CUSIP: 03880RAA7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      97416 | PA      | $97417.58     | 0.20%             | 2036-11-15      | Floating      | 5.12%                 | Yes           | 2                  | On Loan: No      |
| FOUNDRY JV HOLDCO LLC                              | FOUNDRY JV HOLDCO LLC                              | CUSIP: 350930AH6<br>LEI: 21380048QROAMGM6EP30 | Long             | DBT              | CORP              | US        |     200000 | PA      | $213526.23    | 0.44%             | 2036-01-25      | Fixed         | 6.10%                 | Yes           | 2                  | On Loan: No      |
| Element Fleet Management Corp.                     | ELEMENT FLEET MANAGEMENT CORP                      | CUSIP: 286181AR3<br>LEI: 5493000PGBS1C22ELQ16 | Long             | DBT              | CORP              | CA        |      80000 | PA      | $80789.50     | 0.17%             | 2030-11-24      | Fixed         | 4.64%                 | Yes           | 2                  | On Loan: No      |
| AKER BP ASA                                        | AKER BP ASA                                        | CUSIP: 00973RAQ6<br>LEI: 549300NFTY73920OYK69 | Long             | DBT              | CORP              | NO        |     415000 | PA      | $413718.44    | 0.86%             | 2035-10-30      | Fixed         | 5.25%                 | Yes           | 2                  | On Loan: No      |
| HILCORP ENERGY I, L.P.                             | HILCORP ENERGY I LP HILCORP FINANCE CO             | CUSIP: 431318AY0<br>LEI: 549300ITPIHLG0LHEC09 | Long             | DBT              | CORP              | US        |      90000 | PA      | $88644.72     | 0.18%             | 2030-04-15      | Fixed         | 6.00%                 | Yes           | 2                  | On Loan: No      |
| PRM5 TRUST                                         | PRM TRUST 2025 PRM6                                | CUSIP: 74277DAJ1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     100000 | PA      | $100757.12    | 0.21%             | 2033-07-05      | Variable      | 6.58%                 | Yes           | 2                  | On Loan: No      |
| Kingdom of Saudi Arabia                            | SAUDI GOVERNMENT INTERNATIONAL BOND                | CUSIP: 80413TBR9<br>LEI: 635400FMICXSM3SI3H65 | Long             | DBT              | NUSS              | SA        |     400000 | PA      | $401783.92    | 0.83%             | 2036-01-12      | Fixed         | 4.88%                 | Yes           | 2                  | On Loan: No      |
| VELOCITY COMMERCIAL CAPITAL LOAN TRUST             | VELOCITY COMMERCIAL CAPITAL LOAN TRUST 2024 6      | CUSIP: 92261BAA4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     105540 | PA      | $107420.63    | 0.22%             | 2054-12-25      | Variable      | 5.81%                 | Yes           | 2                  | On Loan: No      |
| INTERNATIONAL PETROLEUM CORP                       | INTERNATIONAL PETROLEUM CORP                       | CUSIP: YK4418884<br>LEI: N/A                  | Long             | DBT              | CORP              | CA        |     350000 | PA      | $354375.00    | 0.74%             | 2030-10-10      | Fixed         | 7.50%                 | No            | 2                  | On Loan: No      |
| FHF TRUST                                          | FHF ISSUER TRUST 2024 3                            | CUSIP: 30339EAE8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     110000 | PA      | $105041.85    | 0.22%             | 2031-12-15      | Fixed         | 6.01%                 | Yes           | 2                  | On Loan: No      |
| ORACLE CORPORATION                                 | ORACLE CORP                                        | CUSIP: 68389XEB7<br>LEI: 1Z4GXXU7ZHVWFCD8TV52 | Long             | DBT              | CORP              | US        |     115000 | PA      | $111522.42    | 0.23%             | 2056-02-04      | Fixed         | 6.70%                 | No            | 2                  | On Loan: No      |
| APA CORPORATION                                    | APA CORP                                           | CUSIP: 03743QAT5<br>LEI: 549300VCIWLRHYVSHC79 | Long             | DBT              | CORP              | US        |     451000 | PA      | $460679.56    | 0.96%             | 2055-02-15      | Fixed         | 6.75%                 | No            | 2                  | On Loan: No      |
| FREDDIE MAC STACR REMIC TRUST                      | FEDERAL HOME LOAN MORTGAGE CORP                    | CUSIP: 35564UBR7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     252304 | PA      | $252685.20    | 0.52%             | 2045-10-25      | Floating      | 4.77%                 | Yes           | 2                  | On Loan: No      |
| United States of America                           | 30 YEAR US TREASURY BOND FUTURE JUN26              | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              |  | US        |         -9 | NC      | $-9797.19     | -0.02%            |  |  |  | No            | 1                  | On Loan: No      |
| BALL CORPORATION                                   | BALL CORP                                          | CUSIP: N/A<br>LEI: 0BGI85ALH27ZJP15DY16       | Long             | DBT              | CORP              | US        |     130000 | PA      | $158088.01    | 0.33%             | 2032-07-01      | Fixed         | 4.25%                 | No            | 2                  | On Loan: No      |
| ENERFLEX INC                                       | ENERFLEX INC                                       | CUSIP: 29281WAA6<br>LEI: 549300SQCOV1LC1GBK07 | Long             | DBT              | CORP              | US        |      70000 | PA      | $72546.53     | 0.15%             | 2031-01-15      | Fixed         | 6.88%                 | Yes           | 2                  | On Loan: No      |
| PFP LTD                                            | PFP 2026 13 LTD                                    | CUSIP: 716966AC0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     120000 | PA      | $120165.84    | 0.25%             | 2043-08-18      | Floating      | 5.32%                 | Yes           | 2                  | On Loan: No      |
| JANE STREET GROUP, LLC                             | JANE STREET GROUP JSG FINANCE INC                  | CUSIP: 47077WAE8<br>LEI: 5493002N1IVX6KHGYO08 | Long             | DBT              | CORP              | US        |     154000 | PA      | $158032.36    | 0.33%             | 2033-05-01      | Fixed         | 6.75%                 | Yes           | 2                  | On Loan: No      |
| LHOME MORTGAGE TRUST                               | LHOME MORTGAGE TRUST 2024 RTL3                     | CUSIP: 50205GAA0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     210000 | PA      | $211362.48    | 0.44%             | 2029-05-25      | Fixed         | 6.90%                 | Yes           | 2                  | On Loan: No      |
| Transocean International Limited                   | TRANSOCEAN INC                                     | CUSIP: 893830AT6<br>LEI: DOL4HJ22ADYSIWES4H94 | Long             | DBT              | CORP              | BM        |      75000 | PA      | $72668.55     | 0.15%             | 2038-03-15      | Fixed         | 6.80%                 | No            | 2                  | On Loan: No      |
| Borr IHC Limited                                   | BORR IHC LTD BORR FINANCE LLC                      | CUSIP: 100018AB6<br>LEI: 254900WQF2MM46DNLY83 | Long             | DBT              | CORP              | BM        |     180583 | PA      | $188039.17    | 0.39%             | 2030-11-15      | Fixed         | 10.38%                | Yes           | 2                  | On Loan: No      |
| CONNECTICUT AVENUE SECURITIES TRUST                | CONNECTICUT AVENUE SECURITIES SERIES 2025 R01      | CUSIP: 20755JAB9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      76221 | PA      | $76268.14     | 0.16%             | 2045-01-25      | Floating      | 4.77%                 | Yes           | 2                  | On Loan: No      |
| PRPM LLC                                           | PRPM 2025 NQM1 TRUST                               | CUSIP: 74391EAF8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     120000 | PA      | $122800.04    | 0.25%             | 2069-11-25      | Variable      | 7.78%                 | Yes           | 2                  | On Loan: No      |
| JEFFERIES FINANCIAL GROUP INC.                     | JEFFERIES FINANCIAL GROUP INC                      | CUSIP: 47233WLL1<br>LEI: 549300HOF34RGOJ5YL07 | Long             | DBT              | CORP              | US        |      60000 | PA      | $59009.70     | 0.12%             | 2036-02-15      | Fixed         | 5.50%                 | No            | 2                  | On Loan: No      |
| FREDDIE MAC STACR REMIC TRUST                      | FEDERAL HOME LOAN MORTGAGE CORP                    | CUSIP: 35564UBQ9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     124250 | PA      | $124357.07    | 0.26%             | 2045-10-25      | Floating      | 4.57%                 | Yes           | 2                  | On Loan: No      |
| CSC HOLDINGS, LLC                                  | CSC HOLDINGS LLC                                   | CUSIP: 126307BN6<br>LEI: 3HG2WD2W22M120IUNG49 | Long             | DBT              | CORP              | US        |     200000 | PA      | $142512.64    | 0.30%             | 2029-01-31      | Fixed         | 11.75%                | Yes           | 2                  | On Loan: No      |
| DANAOS CORPORATION                                 | DANAOS CORP                                        | CUSIP: 23585WAC8<br>LEI: 734IM3DNDNT36T7YTD24 | Long             | DBT              | CORP              | MH        |     150000 | PA      | $154698.08    | 0.32%             | 2032-10-15      | Fixed         | 6.88%                 | Yes           | 2                  | On Loan: No      |
| Herbie Re Ltd.                                     | HERBIE RE LTD                                      | CUSIP: 42703VAJ2<br>LEI: N/A                  | Long             | DBT              | CORP              | BM        |     250000 | PA      | $253525.00    | 0.53%             | 2033-01-07      | Variable      | 11.12%                | Yes           | 2                  | On Loan: No      |
| BRAVO RESIDENTIAL FUNDING TRUST                    | BRAVO RESIDENTIAL FUNDING TRUST 2025 HE1           | CUSIP: 10568VAA2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     192608 | PA      | $193026.59    | 0.40%             | 2072-09-25      | Floating      | 5.02%                 | Yes           | 2                  | On Loan: No      |
| BRIGHTSTAR LOTTERY PLC                             | BRIGHTSTAR LOTTERY PLC BRIGHTSTAR GLOBAL           | CUSIP: 108922AA3<br>LEI: 549300UQ6KHRCZDRGZ76 | Long             | DBT              | CORP              | GB        |     140000 | PA      | $139108.76    | 0.29%             | 2033-01-15      | Fixed         | 5.75%                 | Yes           | 2                  | On Loan: No      |
| Foundation Re IV Ltd.                              | FOUNDATION RE IV LTD                               | CUSIP: 349939AB4<br>LEI: N/A                  | Long             | DBT              | CORP              | BM        |     250000 | PA      | $251725.00    | 0.52%             | 2034-01-05      | Floating      | 7.17%                 | Yes           | 2                  | On Loan: No      |
| AMERICAN ELECTRIC POWER COMPANY, INC.              | AMERICAN ELECTRIC POWER CO INC                     | CUSIP: 02557TAE9<br>LEI: 1B4S6S7G0TW5EE83BO58 | Long             | DBT              | CORP              | US        |     135000 | PA      | $135656.51    | 0.28%             | 2056-03-15      | Fixed         | 5.80%                 | No            | 2                  | On Loan: No      |
| GLOBAL AIRCRAFT LEASING CO., LTD                   | GLOBAL AIRCRAFT LEASING CO LTD                     | CUSIP: 37960JAC2<br>LEI: N/A                  | Long             | DBT              | CORP              | KY        |     158000 | PA      | $162858.82    | 0.34%             | 2027-09-01      | Fixed         | 8.75%                 | Yes           | 2                  | On Loan: No      |
| META PLATFORMS, INC.                               | META PLATFORMS INC                                 | CUSIP: 30303M8Y1<br>LEI: BQ4BKCS1HXDV9HN80Z93 | Long             | DBT              | CORP              | US        |     190000 | PA      | $185096.50    | 0.38%             | 2065-11-15      | Fixed         | 5.75%                 | No            | 2                  | On Loan: No      |
| WEC ENERGY GROUP INC.                              | WEC ENERGY GROUP INC                               | CUSIP: 92939UAU0<br>LEI: 549300IGLYTZUK3PVP70 | Long             | DBT              | CORP              | US        |      35000 | PA      | $35220.82     | 0.07%             | 2056-05-15      | Fixed         | 5.62%                 | No            | 2                  | On Loan: No      |
| MKS, INCORPORATED.                                 | MKS INC                                            | CUSIP: YI4245548<br>LEI: 549300KEQATBHAGVF505 | Long             | DBT              | CORP              | US        |     270000 | PA      | $319054.93    | 0.66%             | 2034-02-15      | Fixed         | 4.25%                 | Yes           | 2                  | On Loan: No      |
| ORACLE CORPORATION                                 | ORACLE CORP                                        | CUSIP: 68389X204<br>LEI: 1Z4GXXU7ZHVWFCD8TV52 | Long             | EP               | CORP              | US        |       1600 | NS      | $73584.00     | 0.15%             |  |  |  | No            | 1                  | On Loan: No      |
| RIVER ROCK ENTERTAINMENT AUTHORITY                 | RIVER ROCK ENTERTAINMENT AUTHORITY                 | CUSIP: 76837PAC7<br>LEI: N/A                  | Long             | LON              | CORP              | US        |     400000 | PA      | $392000.00    | 0.81%             | 2031-11-24      | Floating      | 12.67%                | No            | 2                  | On Loan: No      |
| PRKCM TRUST                                        | PRKCM 2023 AFC4 TRUST                              | CUSIP: 69380GAD1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     180000 | PA      | $182185.02    | 0.38%             | 2058-11-25      | Variable      | 7.94%                 | Yes           | 2                  | On Loan: No      |
| Abra Global Finance                                | ABRA GLOBAL FINANCE                                | CUSIP: 000852AC7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     281515 | PA      | $293620.15    | 0.61%             | 2029-10-22      | Fixed         | 14.00%                | Yes           | 2                  | On Loan: No      |
| Corporacion Nacional del Cobre de Chile            | CORP NACIONAL DEL COBRE DE CHILE                   | CUSIP: 21987BBH0<br>LEI: 549300UVMBCBCIPSUI70 | Long             | DBT              |  | CL        |     445000 | PA      | $467626.03    | 0.97%             | 2053-09-08      | Fixed         | 6.30%                 | Yes           | 2                  | On Loan: No      |
| TALEN ENERGY SUPPLY, LLC                           | TALEN ENERGY SUPPLY LLC                            | CUSIP: 87422VAN8<br>LEI: K5K33XN0PQAU1XF7NN66 | Long             | DBT              | CORP              | US        |      90000 | PA      | $92535.12     | 0.19%             | 2036-02-01      | Fixed         | 6.50%                 | Yes           | 2                  | On Loan: No      |
| OLD NATIONAL BANCORP                               | OLD NATIONAL BANCORP IN                            | CUSIP: 68003DAA3<br>LEI: 549300MMK90CL5KMVX16 | Long             | DBT              | CORP              | US        |      25000 | PA      | $25343.71     | 0.05%             | 2036-02-15      | Fixed         | 5.77%                 | No            | 2                  | On Loan: No      |
| Transocean International Limited                   | TRANSOCEAN INC                                     | CUSIP: 893830BX6<br>LEI: DOL4HJ22ADYSIWES4H94 | Long             | DBT              | CORP              | BM        |       5750 | PA      | $6015.94      | 0.01%             | 2030-02-15      | Fixed         | 8.75%                 | Yes           | 2                  | On Loan: No      |
| THE TORONTO-DOMINION BANK                          | TORONTO DOMINION BANK THE                          | CUSIP: C8888MC97<br>LEI: PT3QB789TSUIDF371261 | Long             | DBT              | CORP              | CA        |       4700 | PA      | $76069.50     | 0.16%             | 2026-11-27      | Fixed         | 39.23%                | No            | 2                  | On Loan: No      |
| UNITED AIRLINES HOLDINGS, INC.                     | UNITED AIRLINES HOLDINGS INC                       | CUSIP: 910047AM1<br>LEI: 98450079DA0B78DD6764 | Long             | DBT              | CORP              | US        |     315000 | PA      | $317272.16    | 0.66%             | 2029-03-01      | Fixed         | 4.88%                 | No            | 2                  | On Loan: No      |
| SMRT COMMERCIAL MORTGAGE TRUST                     | SMRT 2022 MINI                                     | CUSIP: 78457JAN2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     100000 | PA      | $99875.00     | 0.21%             | 2039-01-15      | Floating      | 6.36%                 | Yes           | 2                  | On Loan: No      |
| FREEDOM MORTGAGE HOLDINGS LLC                      | FREEDOM MORTGAGE HOLDINGS LLC                      | CUSIP: 35641AAB4<br>LEI: 254900ROJ91RGM43S156 | Long             | DBT              | CORP              | US        |     120000 | PA      | $124214.64    | 0.26%             | 2031-05-15      | Fixed         | 9.12%                 | Yes           | 2                  | On Loan: No      |
| VISTA POINT SECURITIZATION TRUST                   | VISTA POINT SECURITIZATION TRUST 2024 CES3         | CUSIP: 92841WAB5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     100000 | PA      | $101927.17    | 0.21%             | 2055-01-25      | Variable      | 6.00%                 | Yes           | 2                  | On Loan: No      |
| CITIGROUP INC.                                     | CITIGROUP INC                                      | CUSIP: 172967QJ3<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |     355000 | PA      | $366992.30    | 0.76%             | 2199-12-31      | Fixed         | 6.62%                 | No            | 2                  | On Loan: No      |
| BDS LTD                                            | BDS 2025 FL14 LLC                                  | CUSIP: 072921AA7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     100000 | PA      | $100003.10    | 0.21%             | 2042-10-21      | Floating      | 4.95%                 | Yes           | 2                  | On Loan: No      |
| GOAT HOLDCO, LLC                                   | GOAT HOLDCO LLC                                    | CUSIP: 38021MAA4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |      75000 | PA      | $77504.48     | 0.16%             | 2032-02-01      | Fixed         | 6.75%                 | Yes           | 2                  | On Loan: No      |
| Banque africaine de developpement                  | AFRICAN DEVELOPMENT BANK                           | CUSIP: 008281BK2<br>LEI: 549300LNCLMO3ITVCU07 | Long             | DBT              |  | CI        |     452000 | PA      | $454332.60    | 0.94%             | 2199-12-31      | Fixed         | 5.88%                 | No            | 2                  | On Loan: No      |
| MIZUHO MARKETS CAYMAN LP                           | MIZUHO MARKETS CAYMAN LP                           | CUSIP: 60701B580<br>LEI: N/A                  | Long             | DBT              | CORP              | JP        |       1600 | PA      | $253809.60    | 0.53%             | 2026-12-14      | Floating      | 15.64%                | No            | 2                  | On Loan: No      |
| VRTX TRUST                                         | VRTX TRUST 2025 HQ                                 | CUSIP: 91835XAC1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     100000 | PA      | $102072.11    | 0.21%             | 2030-09-05      | Variable      | 5.49%                 | Yes           | 2                  | On Loan: No      |
| UNITI SERVICES LLC                                 | UNITI GROUP LP UNITI GROUP FINANCE 2019 INC        | CUSIP: 91327TAC5<br>LEI: 549300KT9GVEBYCD2N29 | Long             | DBT              | CORP              | US        |     105000 | PA      | $106491.75    | 0.22%             | 2032-06-15      | Fixed         | 8.62%                 | Yes           | 2                  | On Loan: No      |
| RESEARCH-DRIVEN PAGAYA MOTOR ASSET TRUST           | RESEARCH DRIVEN PAGAYA MOTOR ASSET TRUST 2025 3    | CUSIP: 76090QAB9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     160000 | PA      | $161459.79    | 0.33%             | 2034-02-27      | Fixed         | 5.15%                 | Yes           | 2                  | On Loan: No      |
| FORD MOTOR CREDIT COMPANY LLC                      | FORD MOTOR CREDIT CO LLC                           | CUSIP: 345397H89<br>LEI: UDSQCVRUX5BONN0VY111 | Long             | DBT              | CORP              | US        |     400000 | PA      | $401370.70    | 0.83%             | 2035-10-31      | Fixed         | 5.87%                 | No            | 2                  | On Loan: No      |
| CNO FINANCIAL GROUP, INC.                          | CNO FINANCIAL GROUP INC                            | CUSIP: 12621EAM5<br>LEI: 11XPYHB76MPM4Y4P2897 | Long             | DBT              | CORP              | US        |     233000 | PA      | $242920.30    | 0.50%             | 2034-06-15      | Fixed         | 6.45%                 | No            | 2                  | On Loan: No      |
| MF1 LTD                                            | MF1 2021 FL7 LTD                                   | CUSIP: 55284AAC2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     101000 | PA      | $100891.32    | 0.21%             | 2036-10-16      | Floating      | 5.23%                 | Yes           | 2                  | On Loan: No      |
| CONNECTICUT AVENUE SECURITIES TRUST                | CONNECTICUT AVENUE SECURITIES TRUST 2022 R05       | CUSIP: 20754DAJ6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     200000 | PA      | $212572.04    | 0.44%             | 2042-04-25      | Floating      | 10.67%                | Yes           | 2                  | On Loan: No      |
| ORACLE CORPORATION                                 | ORACLE CORP                                        | CUSIP: 68389XEC5<br>LEI: 1Z4GXXU7ZHVWFCD8TV52 | Long             | DBT              | CORP              | US        |      65000 | PA      | $62270.87     | 0.13%             | 2066-02-04      | Fixed         | 6.85%                 | No            | 2                  | On Loan: No      |
| Kilimanjaro II Re Limited                          | KILIMANJARO II RE LTD                              | CUSIP: 49407QAR9<br>LEI: N/A                  | Long             | DBT              | CORP              | BM        |     250000 | PA      | $258925.00    | 0.54%             | 2033-07-08      | Variable      | 7.74%                 | Yes           | 2                  | On Loan: No      |
| CONNECTICUT AVENUE SECURITIES TRUST                | CONNECTICUT AVENUE SECURITIES TRUST 2022 R09       | CUSIP: 20753DAF5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     230000 | PA      | $248817.82    | 0.52%             | 2042-09-25      | Floating      | 10.42%                | Yes           | 2                  | On Loan: No      |
| KEYCORP                                            | KEYCORP                                            | CUSIP: 493267868<br>LEI: RKPI3RZGV1V1FJTH5T61 | Long             | EP               | CORP              | US        |       1865 | NS      | $41235.15     | 0.09%             |  |  |  | No            | 1                  | On Loan: No      |
| FREDDIE MAC STACR REMIC TRUST                      | FREDDIE MAC STACR REMIC TRUST 2021 HQA2            | CUSIP: 35564KGS2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     175000 | PA      | $211610.72    | 0.44%             | 2033-12-25      | Floating      | 9.12%                 | Yes           | 2                  | On Loan: No      |
| TPG REAL ESTATE FINANCE ISSUER LTD                 | TRTX 2022 FL5 ISSUER LTD                           | CUSIP: 87277JAA9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      50959 | PA      | $50959.22     | 0.11%             | 2039-02-15      | Floating      | 5.31%                 | Yes           | 2                  | On Loan: No      |
| CITIGROUP INC.                                     | CITIGROUP INC                                      | CUSIP: 17327CBC6<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |     105000 | PA      | $107658.60    | 0.22%             | 2199-12-31      | Fixed         | 6.88%                 | No            | 2                  | On Loan: No      |
| CITIGROUP GLOBAL MARKETS HOLDINGS INC UNITED STATE | CITIGROUP GLOBAL MARKETS HOLDINGS INC UNITED STATE | CUSIP: YH4053753<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |       3100 | PA      | $240234.50    | 0.50%             | 2027-02-24      | Floating      | 16.34%                | Yes           | 2                  | On Loan: No      |
| United States of America                           | 5 YEAR US TREASURY NOTE FUTURE JUN26               | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              |  | US        |        -47 | NC      | $-23613.74    | -0.05%            |  |  |  | No            | 1                  | On Loan: No      |
| FREDDIE MAC STACR REMIC TRUST                      | FEDERAL HOME LOAN MORTGAGE CORP                    | CUSIP: 35564K2G3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     200000 | PA      | $205684.94    | 0.43%             | 2043-06-25      | Floating      | 7.02%                 | Yes           | 2                  | On Loan: No      |
| MF1 LTD                                            | MF1 2024 FL15                                      | CUSIP: 58003MAA4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     168386 | PA      | $168732.20    | 0.35%             | 2041-08-18      | Floating      | 5.35%                 | Yes           | 2                  | On Loan: No      |
| A&D MORTGAGE TRUST                                 | A D MORTGAGE TRUST 2024 NQM3                       | CUSIP: 00039HAD9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     129562 | PA      | $131716.56    | 0.27%             | 2069-07-25      | Fixed         | 6.88%                 | Yes           | 2                  | On Loan: No      |
| ION PLATFORM FINANCE US, INC.                      | ION PLATFORM FINANCE US INC ION PLATFORM FINANCE   | CUSIP: 46206AAF9<br>LEI: 213800FKHT3BRRKMCC89 | Long             | DBT              | CORP              | US        |     305000 | PA      | $283382.12    | 0.59%             | 2029-08-01      | Fixed         | 9.00%                 | Yes           | 2                  | On Loan: No      |
| STATE STREET CORPORATION                           | STATE STREET CORP                                  | CUSIP: 857477855<br>LEI: 549300ZFEEJ2IP5VME73 | Long             | EP               | CORP              | US        |        672 | NS      | $15449.28     | 0.03%             |  |  |  | No            | 1                  | On Loan: No      |
| JPMORGAN CHASE & CO.                               | JPMORGAN CHASE CO                                  | CUSIP: 48128B523<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | EP               | CORP              | US        |       5554 | NS      | $103193.32    | 0.21%             |  |  |  | No            | 1                  | On Loan: No      |
| VIRIBUS RE 2018 12 31 26                           | VIRIBUS RE 2018 12 31 26                           | CUSIP: S00121075<br>LEI: N/A                  | Long             | DBT              | CORP              | BM        |     250000 | PA      | $0.00         | 0.00%             | 2026-12-31      | None          | 0.00%                 | Yes           | 3                  | On Loan: No      |
| VENTURE GLOBAL PLAQUEMINES LNG, LLC                | VENTURE GLOBAL PLAQUEMINES LNG LLC                 | CUSIP: 922966AC0<br>LEI: 549300TKP4I6OJ02BF90 | Long             | DBT              | CORP              | US        |      75000 | PA      | $78931.43     | 0.16%             | 2034-01-15      | Fixed         | 6.50%                 | Yes           | 2                  | On Loan: No      |
| United States of America                           | 10 YEAR US TREASURY NOTE FUTURE JUN26              | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              |  | US        |         -9 | NC      | $-6601.25     | -0.01%            |  |  |  | No            | 1                  | On Loan: No      |
| FS RIALTO ISSUER, LTD.                             | FS RIALTO ISSUER LTD                               | CUSIP: 30340KAA9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     120000 | PA      | $120256.49    | 0.25%             | 2030-02-01      | Floating      | 5.05%                 | Yes           | 2                  | On Loan: No      |
| ENERGY TRANSFER LP                                 | ENERGY TRANSFER LP                                 | CUSIP: 29273VAM2<br>LEI: MTLVN9N7JE8MIBIJ1H73 | Long             | DBT              | CORP              | US        |     172000 | PA      | $178423.51    | 0.37%             | 2199-12-31      | Fixed         | 7.12%                 | No            | 2                  | On Loan: No      |
| BNP PARIBAS SA                                     | BNP PARIBAS SA                                     | CUSIP: 05602XQR2<br>LEI: R0MUWSFPU8MPRO8K5P83 | Long             | DBT              | CORP              | FR        |     200000 | PA      | $201055.60    | 0.42%             | 2199-12-31      | Fixed         | 6.88%                 | Yes           | 2                  | On Loan: No      |
| ASG FINANCE DESIGNATED ACTIVITY COMPANY            | ASG FINANCE DESIGNATED ACTIVITY CO                 | CUSIP: 00217AAB2<br>LEI: 5493005UOB0OMEJ4WK10 | Long             | DBT              | CORP              | IE        |     200000 | PA      | $187995.84    | 0.39%             | 2029-05-15      | Fixed         | 9.75%                 | Yes           | 2                  | On Loan: No      |
| Element Fleet Management Corp.                     | ELEMENT FLEET MANAGEMENT CORP                      | CUSIP: 286181AP7<br>LEI: 5493000PGBS1C22ELQ16 | Long             | DBT              | CORP              | CA        |     210000 | PA      | $215264.55    | 0.45%             | 2030-03-25      | Fixed         | 5.04%                 | Yes           | 2                  | On Loan: No      |
| Kilimanjaro II Re Limited                          | KILIMANJARO II RE LTD                              | CUSIP: 49407QAQ1<br>LEI: N/A                  | Long             | DBT              | CORP              | BM        |     250000 | PA      | $257825.00    | 0.53%             | 2033-07-08      | Variable      | 5.24%                 | Yes           | 2                  | On Loan: No      |
| HYUNDAI CAPITAL AMERICA                            | HYUNDAI CAPITAL AMERICA                            | CUSIP: 44891ADM6<br>LEI: 549300RIPPWJB5Z0FK07 | Long             | DBT              | CORP              | US        |     290000 | PA      | $301647.98    | 0.63%             | 2030-01-08      | Fixed         | 5.30%                 | Yes           | 2                  | On Loan: No      |
| CDX CDX NAHYS45V2 5Y                               | CDX CDX NAHYS45V2 5Y                               | CUSIP: N/A<br>LEI: N/A                        | N/A              | DCR              |  | US        |   -2970000 | OU      | $200974.26    | 0.42%             |  |  |  | No            | 2                  | On Loan: No      |

### Signature

**Date Signed:** 2026-03-30

**Name of Applicant:** Victory Portfolios IV

**Signature:** Carol Trevino

**Name of Signer:** Carol Trevino

**Title:** Treasurer