# EDGAR Filing Document

**Accession Number:** 0000885709
**File Stem:** 0000940400-25-013932
**Filing Date:** 2025-12
**Character Count:** 158157
**Document Hash:** c53b69ca750c05c08541eb9c0cc99f72
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000940400-25-013932.hdr.sgml**: 20251219

**ACCESSION NUMBER**: 0000940400-25-013932

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20251031

**FILED AS OF DATE**: 20251219

**DATE AS OF CHANGE**: 20251219

**PERIOD START**: 20251031

**FILER**: 

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

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

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-06625
- **FILM NUMBER:** 251587213

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

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

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

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

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

## Series and Classes Contracts Data

### Payden Absolute Return Bond Fund (Series ID: S000047032)

| Class ID   | Class Name                                        | Ticker Symbol   |
|:---|:---|:---|
| C000146994 | Payden Absolute Return Bond Fund (Investor Class) | PYARX           |
| C000146996 | Payden Absolute Return Bond Fund (SI Class)       | PYAIX           |
| C000248247 | Payden Absolute Return Bond Fund (Adviser Class)  | PYABX           |

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

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

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

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

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

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

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

  - **City:** Los Angeles

  - **State:** CA

  - **Foreign country:** US

  - **Zip / Postal Code:** 90071

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

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

- **a. Name of Series:** Payden Absolute Return Bond Fund

- **b. EDGAR series identifier (if any):** S000047032

- **c. LEI of Series:** 549300Y00UG1BOK6J419

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

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

- **b. Date as of which information is reported:** 2025-10-31

**Item A.4. Final filing**

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

### Fund Information

**Total Assets:** $681684726.06

**Total Liabilities:** $40562229.47

**Net Assets:** $641122496.59

**Delayed Delivery Securities:** $5871456.01

**Cash Not Reported:** $3560000.00

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** 0.00000000 | **1-Year:** 153.00000000 | **5-Year:** 16022.00000000 | **10-Year:** 38624.00000000 | **30-Year:** 56341.00000000

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

- **3-Month:** 11.00000000 | **1-Year:** 8.00000000 | **5-Year:** 22593.00000000 | **10-Year:** 23193.00000000 | **30-Year:** 18935.00000000

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000146994 | 1.01%                | 0.48%                | 0.24%                |
| Class ID C000146996 | 1.03%                | 0.40%                | 0.26%                |
| Class ID C000248247 | 0.99%                | 0.46%                | 0.12%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $1725025.57              | $3606633.60                                |
| Month 2  | $1327299.27              | $1066107.64                                |
| Month 3  | $-1134607.90             | $-749485.87                                |

**Designated Index Information**

- **Index Name:** N/A

- **Index Identifier:** N/A

### Schedule of Portfolio Investments

| Name                                                         | Title                                                                 | Identifiers                                   | Payoff Profile   | Asset Category   | Issuer Category   | Country   |   Balance | Units   | Value (USD)   | % of Net Assets   | Maturity Date   | Coupon Type   | Annualized Rate (%)   | Restricted?   |   Fair Value Level | Lending Status   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| MORGAN STANLEY & CO. LLC                                     | CAD/USD FORWARD                                                       | CUSIP: 000000000<br>LEI: 9R7GPTSO7KV3UQJZQ078 | N/A              | DFE              | CORP              | US        |         1 | NC      | $35231.47     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| HSBC SECURITIES (USA) INC.                                   | USD/HUF FORWARD                                                       | CUSIP: 000000000<br>LEI: CYYGQCGNHMHPSMRL3R97 | N/A              | DFE              | CORP              | US        |         1 | NC      | $44035.86     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| DNB BANK ASA                                                 | DNB Bank ASA                                                          | CUSIP: 000000000<br>LEI: 549300GKFG0RYRRQ1414 | Long             | DBT              | CORP              | NO        |   1425000 | PA      | $1869000.31   | 0.29%             | 2027-08-17      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| AMERICAN HONDA FINANCE                                       | American Honda Finance Corp                                           | CUSIP: 02665WGL9<br>LEI: B6Q2VFHD1797Q7NZ3E43 | Long             | DBT              | CORP              | US        |   3175000 | PA      | $3183659.27   | 0.50%             | 2030-09-04      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Onslow Bay Financial LLC                                     | OBX 2024-NQM8 Trust                                                   | CUSIP: 67119CAA8<br>LEI: 254900Y1YRD8JNADSC78 | Long             | ABS-MBS          | CORP              | US        |   1367799 | PA      | $1385561.68   | 0.22%             | 2064-05-25      | Variable      | 6.23%                 | No            |                  2 | On Loan: No      |
| Cologix Data Centers Issuer LL                               | Cologix Canadian Issuer LP                                            | CUSIP: 19521DAJ0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | CA        |   3200000 | PA      | $2237615.77   | 0.35%             | 2052-01-25      | Fixed         | 5.68%                 | No            |                  2 | On Loan: No      |
| CLEAN HARBORS INC                                            | Clean Harbors Inc                                                     | CUSIP: 184496AR8<br>LEI: 5493000SJVZVZJKHJF48 | Long             | DBT              | CORP              | US        |   1160000 | PA      | $1186384.06   | 0.19%             | 2033-10-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| DBC 2025-DBC Mortgage Trust                                  | DBC 2025-DBC Mortgage Trust                                           | CUSIP: 23306HAA3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1425000 | PA      | $1428843.51   | 0.22%             | 2038-06-15      | Floating      | 5.40%                 | No            |                  2 | On Loan: No      |
| Fortress CBO Investments Ltd                                 | FORT CRE 2022-FL3 Issuer LLC                                          | CUSIP: 34706CAC3<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |   2120075 | PA      | $2114781.75   | 0.33%             | 2039-02-23      | Floating      | 6.43%                 | No            |                  2 | On Loan: No      |
| Onslow Bay Financial LLC                                     | OBX 2024-NQM14 Trust                                                  | CUSIP: 67119XAC8<br>LEI: 254900C7ZCEHM7Y5MX79 | Long             | ABS-MBS          | CORP              | US        |   1250740 | PA      | $1248454.27   | 0.19%             | 2064-09-25      | Variable      | 4.94%                 | No            |                  2 | On Loan: No      |
| SANTANDER CONSUMER AUTO RECEIVABLES TRUST 2021-B             | SANTANDER CONSUMER AUTO RECEIVABLES TRUST 2021-B                      | CUSIP: 802824AD4<br>LEI: N/A                  | Long             | EC               | CORP              | US        |       100 | NS      | $2820945.80   | 0.44%             |  |  |  | No            |                  2 | On Loan: No      |
| UNICREDIT SPA                                                | UniCredit SpA                                                         | CUSIP: 000000000<br>LEI: 549300TRUWO2CD2G5692 | Long             | DBT              | CORP              | IT        |   1775000 | PA      | $2126425.39   | 0.33%             | 2029-02-16      | Fixed         | 4.45%                 | No            |                  2 | On Loan: No      |
| CHICAGO MERCANTILE EXCHANGE INC.                             | S&P500 EMINI                                                          | CUSIP: 000000000<br>LEI: SNZ2OJLFK8MNNCLQOF39 | N/A              | DE               | CORP              | US        |       104 | NC      | $343200.00    | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| BX Trust                                                     | BX Trust 2025-VLT7                                                    | CUSIP: 123913AG0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1500000 | PA      | $1512898.65   | 0.24%             | 2044-07-15      | Floating      | 7.28%                 | No            |                  2 | On Loan: No      |
| Santander Drive Auto Receivabl                               | Santander Drive Auto Receivables Trust 2024-S1                        | CUSIP: 80286UAA8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1045749 | PA      | $1046214.87   | 0.16%             | 2029-03-16      | Fixed         | 6.53%                 | No            |                  2 | On Loan: No      |
| ARES CLO Ltd                                                 | ARES XLIV CLO Ltd                                                     | CUSIP: 04016NBH5<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   8100000 | PA      | $8109347.40   | 1.26%             | 2034-04-15      | Floating      | 5.03%                 | No            |                  2 | On Loan: No      |
| MORGAN STANLEY                                               | Morgan Stanley                                                        | CUSIP: 61748UAM4<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |   2625000 | PA      | $2616690.20   | 0.41%             | 2031-10-22      | Fixed         | 4.36%                 | No            |                  2 | On Loan: No      |
| C&W SENIOR FINANCE LTD                                       | C&W Senior Finance Ltd                                                | CUSIP: 12665MAA0<br>LEI: 213800CG16G1YMJRCG10 | Long             | DBT              | CORP              | KY        |   1425000 | PA      | $1454121.30   | 0.23%             | 2033-01-15      | Fixed         | 9.00%                 | No            |                  2 | On Loan: No      |
| BX Trust                                                     | BX Commercial Mortgage Trust 2024-AIRC                                | CUSIP: 12433CAA3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1568127 | PA      | $1572312.00   | 0.25%             | 2039-08-15      | Floating      | 5.72%                 | No            |                  2 | On Loan: No      |
| CPPIB OVM MEMBER US LLC                                      | CPPIB OVM MEMBER US LLC                                               | CUSIP: 12673CAB0<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    693002 | PA      | $695292.62    | 0.11%             | 2031-08-20      | Floating      | 6.50%                 | No            |                  2 | On Loan: No      |
| Talen Energy Supply LLC                                      | TALEN ENERGY SUPPLY LLC                                               | CUSIP: 87422LBA7<br>LEI: K5K33XN0PQAU1XF7NN66 | Long             | LON              | CORP              | US        |   1075000 | PA      | $1075671.88   | 0.17%             | 2032-10-11      | Floating      | 0.00%                 | No            |                  2 | On Loan: No      |
| ROMANIA                                                      | Romanian Government International Bond                                | CUSIP: 77586RAY6<br>LEI: 315700IASY927EDWBK92 | Long             | DBT              | NUSS              | RO        |    850000 | PA      | $870782.51    | 0.14%             | 2030-09-16      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| UBER TECHNOLOGIES INC                                        | Uber Technologies Inc                                                 | CUSIP: 90353TAT7<br>LEI: 549300B2FTG34FILDR98 | Long             | DBT              | CORP              | US        |   1650000 | PA      | $1635121.29   | 0.26%             | 2031-01-15      | Fixed         | 4.15%                 | No            |                  2 | On Loan: No      |
| BNP PARIBAS SECURITIES CORP.                                 | USD/ZAR FORWARD                                                       | CUSIP: 000000000<br>LEI: RCNB6OTYUAMMP879YW96 | N/A              | DFE              | CORP              | US        |         1 | NC      | $-13666.50    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Cross Mortgage Trust                                         | Cross 2025-H1 Mortgage Trust                                          | CUSIP: 22758NAA5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   2164500 | PA      | $2184745.40   | 0.34%             | 2070-02-25      | Variable      | 5.74%                 | No            |                  2 | On Loan: No      |
| CIGNA GROUP/THE                                              | Cigna Group/The                                                       | CUSIP: 125523CX6<br>LEI: 549300VIWYMSIGT1U456 | Long             | DBT              | CORP              | US        |   1025000 | PA      | $1029218.68   | 0.16%             | 2030-09-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| QXO Building Products Inc (f/k/a Beacon Roofing Supply Inc.) | QXO INC                                                               | CUSIP: 07368RAJ0<br>LEI: 549300HDXQWWCBOYXP31 | Long             | LON              | CORP              | US        |   1300000 | PA      | $1303809.00   | 0.20%             | 2032-04-30      | Floating      | 6.96%                 | No            |                  2 | On Loan: No      |
| Capital Automotive Reit                                      | CARS-DB4 LP                                                           | CUSIP: 12510HAJ9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    970000 | PA      | $887806.86    | 0.14%             | 2050-02-15      | Fixed         | 4.95%                 | No            |                  2 | On Loan: No      |
| US TREASURY N/B                                              | United States Treasury Note/Bond                                      | CUSIP: 91282CNP2<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   6000000 | PA      | $6026015.64   | 0.94%             | 2027-07-31      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| Onslow Bay Financial LLC                                     | OBX 2025-NQM10 Trust                                                  | CUSIP: 67121LAA4<br>LEI: 254900NDJVO62R77II89 | Long             | ABS-MBS          | CORP              | US        |   4527728 | PA      | $4569653.93   | 0.71%             | 2065-05-25      | Variable      | 5.45%                 | No            |                  2 | On Loan: No      |
| Payden Emerging Markets Local Bond Fund                      | Payden Emerging Markets Local Bond Fund                               | CUSIP: 70432T867<br>LEI: 549300ZRY78UEWJB7K76 | Long             | EC               | RF                | US        |   2042302 | NS      | $19892017.96  | 3.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Fannie Mae - CAS                                             | Connecticut Avenue Securities Trust 2020-SBT1                         | CUSIP: 20753VBE7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1900000 | PA      | $1967989.22   | 0.31%             | 2040-02-25      | Floating      | 8.12%                 | No            |                  2 | On Loan: No      |
| AECOM                                                        | AECOM                                                                 | CUSIP: 00766TAE0<br>LEI: 0EEB8GF0W0NPCIHZX097 | Long             | DBT              | CORP              | US        |   1700000 | PA      | $1745917.00   | 0.27%             | 2033-08-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Juniper Valley Park CLO, Ltd                                 | Juniper Valley Park CLO Ltd                                           | CUSIP: 48206KAY2<br>LEI: 213800ACSV8GAJ4CCO70 | Long             | ABS-CBDO         | CORP              | JE        |   2275000 | PA      | $2275000.00   | 0.35%             | 2036-07-20      | Floating      | 4.96%                 | No            |                  2 | On Loan: No      |
| MORGAN STANLEY & CO. LLC                                     | GBP/USD FORWARD                                                       | CUSIP: 000000000<br>LEI: 9R7GPTSO7KV3UQJZQ078 | N/A              | DFE              | CORP              | US        |         1 | NC      | $306900.55    | 0.05%             |  |  |  | No            |                  2 | On Loan: No      |
| Hanesbrands Inc                                              | HANESBRANDS INC                                                       | CUSIP: 410346AY6<br>LEI: GX5LWVWZLL5S4W1L2F20 | Long             | LON              | CORP              | US        |   1393598 | PA      | $1400566.49   | 0.22%             | 2032-03-07      | Floating      | 6.71%                 | No            |                  2 | On Loan: No      |
| MIC Glen LLC                                                 | MIC GLEN LLC                                                          | CUSIP: 55304PAH4<br>LEI: 549300XD843A2SP50882 | Long             | LON              | CORP              | US        |   1448051 | PA      | $1459729.45   | 0.23%             | 2028-07-21      | Floating      | 0.00%                 | No            |                  2 | On Loan: No      |
| KKR Financial CLO Ltd                                        | KKR Clo 25 Ltd                                                        | CUSIP: 48252UAU1<br>LEI: 549300MJB0YZ0QTQNZ45 | Long             | ABS-CBDO         | CORP              | KY        |   3100000 | PA      | $3088003.00   | 0.48%             | 2034-07-15      | Floating      | 4.85%                 | No            |                  2 | On Loan: No      |
| VIKING BAKED GOODS ACQUI                                     | Viking Baked Goods Acquisition Corp                                   | CUSIP: 92676AAA5<br>LEI: 254900DBFD2H1FJK0893 | Long             | DBT              | CORP              | US        |   1200000 | PA      | $1207038.00   | 0.19%             | 2031-11-01      | Fixed         | 8.62%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF ZAMBIA                                           | Zambia Government International Bond                                  | CUSIP: 000000000<br>LEI: 213800DMLAZ6LGMMD849 | Long             | DBT              | NUSS              | ZM        |   2350974 | PA      | $2264560.44   | 0.35%             | 2033-06-30      | Variable      | 5.75%                 | No            |                  2 | On Loan: No      |
| Verus Securitization Trust                                   | Verus Securitization Trust 2024-R1                                    | CUSIP: 924926AA6<br>LEI: 213800A8V9BALJ9WKP38 | Long             | ABS-MBS          | CORP              | US        |   3196986 | PA      | $3205901.17   | 0.50%             | 2069-09-25      | Variable      | 5.22%                 | No            |                  2 | On Loan: No      |
| CIFC Funding Ltd                                             | Cifc Funding 2023-III Ltd                                             | CUSIP: 12598YAA6<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   2000000 | PA      | $2001496.00   | 0.31%             | 2037-01-20      | Floating      | 5.48%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF GUATEMALA                                        | Guatemala Government Bond                                             | CUSIP: 401494BA6<br>LEI: 529900QKDFFU9UWW5315 | Long             | DBT              | NUSS              | GT        |   1575000 | PA      | $1663467.75   | 0.26%             | 2036-08-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| Fannie Mae - CAS                                             | Connecticut Avenue Securities Trust 2025-R03                          | CUSIP: 20754VAB3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   2036881 | PA      | $2044863.05   | 0.32%             | 2045-03-25      | Floating      | 5.78%                 | No            |                  2 | On Loan: No      |
| United Natural Foods Inc                                     | UNITED NATURAL FOODS INC                                              | CUSIP: 91116KAD7<br>LEI: 549300GKGW6WPZ282D40 | Long             | LON              | CORP              | US        |   1055895 | PA      | $1063814.01   | 0.17%             | 2031-04-25      | Floating      | 8.71%                 | No            |                  2 | On Loan: No      |
| HSBC SECURITIES (USA) INC.                                   | EUR/USD FORWARD                                                       | CUSIP: 000000000<br>LEI: CYYGQCGNHMHPSMRL3R97 | N/A              | DFE              | CORP              | US        |         1 | NC      | $81921.13     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| BFLD Trust                                                   | BFLD Commercial Mortgage Trust 2025-660F                              | CUSIP: 05556QAA7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   2050000 | PA      | $2058388.60   | 0.32%             | 2042-11-15      | Floating      | 5.52%                 | No            |                  2 | On Loan: No      |
| ROMANIA                                                      | Romanian Government International Bond                                | CUSIP: 000000000<br>LEI: 315700IASY927EDWBK92 | Long             | DBT              | NUSS              | RO        |   1050000 | PA      | $1264200.40   | 0.20%             | 2032-07-11      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| BX Trust                                                     | BX Trust 2024-VLT4                                                    | CUSIP: 05612TAC9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1625000 | PA      | $1627078.70   | 0.25%             | 2041-06-15      | Floating      | 5.97%                 | No            |                  2 | On Loan: No      |
| DBC 2025-DBC Mortgage Trust                                  | DBC 2025-DBC Mortgage Trust                                           | CUSIP: 23306HAC9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1925000 | PA      | $1930697.62   | 0.30%             | 2038-06-15      | Floating      | 5.65%                 | No            |                  2 | On Loan: No      |
| Fannie Mae - CAS                                             | Connecticut Avenue Securities Trust 2023-R04                          | CUSIP: 20754QAA6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1213156 | PA      | $1239902.05   | 0.19%             | 2043-05-25      | Floating      | 6.48%                 | No            |                  2 | On Loan: No      |
| Verus Securitization Trust                                   | Verus Securitization Trust 2025-6                                     | CUSIP: 92540YAA7<br>LEI: 213800KZO2G8SSFFDH61 | Long             | ABS-MBS          | CORP              | US        |   1512949 | PA      | $1523872.44   | 0.24%             | 2070-07-25      | Variable      | 5.42%                 | No            |                  2 | On Loan: No      |
| Neuberger Berman CLO Ltd                                     | Neuberger Berman Loan Advisers CLO 41 Ltd                             | CUSIP: 64134BAJ9<br>LEI: 549300RYH1PYRU661D66 | Long             | ABS-CBDO         | CORP              | KY        |   5275000 | PA      | $5282052.68   | 0.82%             | 2034-04-15      | Floating      | 4.95%                 | No            |                  2 | On Loan: No      |
| EMRLD Borrower LP                                            | EMRLD BORROWER LP                                                     | CUSIP: 26872NAD1<br>LEI: 5493000GJYE7GAQCUC61 | Long             | LON              | CORP              | US        |   4075844 | PA      | $4066734.80   | 0.63%             | 2031-08-04      | Floating      | 6.12%                 | No            |                  2 | On Loan: No      |
| BX Trust                                                     | BX Commercial Mortgage Trust 2021-VOLT                                | CUSIP: 05609VAL9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   2722407 | PA      | $2720929.31   | 0.42%             | 2036-09-15      | Floating      | 5.80%                 | No            |                  2 | On Loan: No      |
| SBA TOWER TRUST                                              | SBA Tower Trust                                                       | CUSIP: 78403DAT7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   4000000 | PA      | $3887716.80   | 0.61%             | 2026-11-15      | Fixed         | 1.63%                 | No            |                  2 | On Loan: No      |
| HSBC SECURITIES (USA) INC.                                   | USD/EUR FORWARD                                                       | CUSIP: 000000000<br>LEI: CYYGQCGNHMHPSMRL3R97 | N/A              | DFE              | CORP              | US        |         1 | NC      | $-84138.05    | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| REPUBLIC OF ALBANIA                                          | Albania Government International Bond                                 | CUSIP: 000000000<br>LEI: 254900EDM43U3SGRND29 | Long             | DBT              | NUSS              | AL        |    775000 | PA      | $920490.57    | 0.14%             | 2035-02-14      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| SONA FIOS CLO                                                | Sona Fios CLO I DAC                                                   | CUSIP: 000000000<br>LEI: 635400DKZUMF3VS6WZ22 | Long             | ABS-CBDO         | CORP              | IE        |   2200000 | PA      | $2536813.90   | 0.40%             | 2036-07-15      | Floating      | 4.71%                 | No            |                  2 | On Loan: No      |
| NOTA DO TESOURO NACIONAL                                     | Brazil Notas do Tesouro Nacional Serie F                              | CUSIP: 000000000<br>LEI: 254900ZFY40OYEADAP90 | Long             | DBT              | NUSS              | BR        |  44000000 | PA      | $7203716.28   | 1.12%             | 2031-01-01      | Fixed         | 10.00%                | No            |                  2 | On Loan: No      |
| BKV UPSTREAM MIDSTREAM L                                     | BKV Upstream Midstream LLC                                            | CUSIP: 05619CAA3<br>LEI: 254900LG75NBYHBBAU18 | Long             | DBT              | CORP              | US        |   1450000 | PA      | $1453322.81   | 0.23%             | 2030-10-15      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| FISERV FUNDING UNLTD CO                                      | Fiserv Funding ULC                                                    | CUSIP: 337735AA2<br>LEI: 254900RNWK5SE9A0I712 | Long             | DBT              | CORP              | IE        |   1950000 | PA      | $2246212.09   | 0.35%             | 2028-06-15      | Fixed         | 2.88%                 | No            |                  2 | On Loan: No      |
| Onslow Bay Financial LLC                                     | OBX 2025-NQM2 Trust                                                   | CUSIP: 67120VAA3<br>LEI: 2549006BC0G3YEF5SL09 | Long             | ABS-MBS          | CORP              | US        |   6793859 | PA      | $6851503.86   | 1.07%             | 2064-11-25      | Variable      | 5.60%                 | No            |                  2 | On Loan: No      |
| ONSLOW BAY FINANCIAL LLC                                     | OBX 2025-NQM20 TRUST                                                  | CUSIP: 67126GAC6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1625000 | PA      | $1625325.00   | 0.25%             | 2065-10-25      | Variable      | 5.02%                 | No            |                  2 | On Loan: No      |
| Octagon 57 Ltd                                               | Octagon 57 Ltd                                                        | CUSIP: 67592XAN0<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   3600000 | PA      | $3598200.00   | 0.56%             | 2034-10-15      | Floating      | 4.96%                 | No            |                  2 | On Loan: No      |
| META PLATFORMS INC                                           | META PLATFORMS INC                                                    | CUSIP: 30303MAB8<br>LEI: BQ4BKCS1HXDV9HN80Z93 | Long             | DBT              | CORP              | US        |   1050000 | PA      | $1049143.22   | 0.16%             | 2030-11-15      | Fixed         | 4.20%                 | No            |                  2 | On Loan: No      |
| CPT MORTGAGE TRUST                                           | CENTURY PLAZA TOWERS 2019-CPT                                         | CUSIP: 12654YAJ8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1550000 | PA      | $1370000.21   | 0.21%             | 2039-11-13      | Variable      | 3.00%                 | No            |                  2 | On Loan: No      |
| HSBC SECURITIES (USA) INC.                                   | AUD/USD FORWARD                                                       | CUSIP: 000000000<br>LEI: CYYGQCGNHMHPSMRL3R97 | N/A              | DFE              | CORP              | US        |         1 | NC      | $71438.89     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| BX Trust                                                     | BX Commercial Mortgage Trust 2025-BCAT                                | CUSIP: 12433HAA2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1197856 | PA      | $1200313.57   | 0.19%             | 2042-08-15      | Floating      | 5.41%                 | No            |                  2 | On Loan: No      |
| Ladder Capital Commercial Mort                               | LCCM 2017-LC26                                                        | CUSIP: 50190DAL0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   3778018 | PA      | $61101.50     | 0.01%             | 2050-07-12      | Variable      | 1.50%                 | No            |                  2 | On Loan: No      |
| Freddie Mac - STACR                                          | Freddie Mac STACR REMIC Trust 2021-DNA7                               | CUSIP: 35564KNE5<br>LEI: 5493000ISOMSKCX2AW62 | Long             | ABS-MBS          | CORP              | US        |   1825000 | PA      | $1936366.43   | 0.30%             | 2041-11-25      | Floating      | 11.98%                | No            |                  2 | On Loan: No      |
| Freddie Mac - STACR                                          | Freddie Mac STACR REMIC Trust 2024-HQA2                               | CUSIP: 35564NDY6<br>LEI: 5299002OYNAPMJKK2A73 | Long             | ABS-MBS          | CORP              | US        |   2210000 | PA      | $2222991.69   | 0.35%             | 2044-08-25      | Floating      | 5.43%                 | No            |                  2 | On Loan: No      |
| UNITED AUTO CREDIT SECURITIZATION TRUST 2022-2               | UNITED AUTO CREDIT SECURITIZATION TRUST 2022-2                        | CUSIP: 90944KAG0<br>LEI: N/A                  | Long             | EC               | CORP              | US        |        85 | NS      | $0.00         | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Qnity Electronics, Inc.                                      | QNITY ELECTRONICS INC                                                 | CUSIP: 74737SAB9<br>LEI: 254900RSUG4J9TFFZX53 | Long             | LON              | CORP              | US        |   1500000 | PA      | $1502820.00   | 0.23%             | 2032-08-12      | Floating      | 0.00%                 | No            |                  2 | On Loan: No      |
| Fr Br Holdings, L.L.C.                                       | FR BR HOLDINGS LLC                                                    | CUSIP: 30260XAD1<br>LEI: 549300FJFG2CK1VX3Y85 | Long             | LON              | CORP              | US        |   1875000 | PA      | $1870312.50   | 0.29%             | 2030-10-09      | Floating      | 8.19%                 | No            |                  2 | On Loan: No      |
| Fannie Mae - CAS                                             | Connecticut Avenue Securities Trust 2021-R02                          | CUSIP: 20754KAF8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   3400000 | PA      | $3475903.64   | 0.54%             | 2041-11-25      | Floating      | 7.48%                 | No            |                  2 | On Loan: No      |
| Freddie Mac - STACR                                          | Freddie Mac STACR REMIC Trust 2022-DNA3                               | CUSIP: 35564KVE6<br>LEI: 5493000IS4M3TZMRB410 | Long             | ABS-MBS          | CORP              | US        |   2775000 | PA      | $2906295.80   | 0.45%             | 2042-04-25      | Floating      | 8.53%                 | No            |                  2 | On Loan: No      |
| TESCO CORP TREASURY SERV                                     | Tesco Corporate Treasury Services PLC                                 | CUSIP: 000000000<br>LEI: 21380018AJDKNF3A6712 | Long             | DBT              | CORP              | GB        |   1650000 | PA      | $1916155.45   | 0.30%             | 2032-05-06      | Fixed         | 3.38%                 | No            |                  2 | On Loan: No      |
| HSBC SECURITIES (USA) INC.                                   | JPY/USD FORWARD                                                       | CUSIP: 000000000<br>LEI: CYYGQCGNHMHPSMRL3R97 | N/A              | DFE              | CORP              | US        |         1 | NC      | $-692495.74   | -0.11%            |  |  |  | No            |                  2 | On Loan: No      |
| BOPARAN FINANCE PLC                                          | Boparan Finance PLC                                                   | CUSIP: 000000000<br>LEI: 213800GQSQIOBR3DHN70 | Long             | DBT              | CORP              | GB        |    900000 | PA      | $1257747.53   | 0.20%             | 2029-11-07      | Fixed         | 9.38%                 | No            |                  2 | On Loan: No      |
| Wells Fargo Commercial Mortgag                               | Wells Fargo Commercial Mortgage Trust 2024-MGP                        | CUSIP: 95003TAW3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1200000 | PA      | $1199836.44   | 0.19%             | 2041-08-15      | Floating      | 6.97%                 | No            |                  2 | On Loan: No      |
| BOMBARDIER INC                                               | Bombardier Inc                                                        | CUSIP: 097751CC3<br>LEI: W7L3VLU8EHQY34Z36697 | Long             | DBT              | CORP              | CA        |   1595000 | PA      | $1676569.90   | 0.26%             | 2032-06-01      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| TPG Real Estate Finance                                      | TRTX 2025-FL7 issuer Ltd                                              | CUSIP: 87277LAG1<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   1125000 | PA      | $1128937.50   | 0.18%             | 2043-06-18      | Floating      | 6.23%                 | No            |                  2 | On Loan: No      |
| ARES CLO Ltd                                                 | ARES LII CLO Ltd                                                      | CUSIP: 04009AAW0<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   2125421 | PA      | $2125386.54   | 0.33%             | 2031-04-22      | Floating      | 4.74%                 | No            |                  2 | On Loan: No      |
| Quikrete Holdings Inc                                        | QUIKRETE HOLDING 01/30/32                                             | CUSIP: 74839XAL3<br>LEI: 5493007KIN86DIZWZT22 | Long             | LON              | CORP              | US        |   2613621 | PA      | $2619749.55   | 0.41%             | 2032-02-10      | Floating      | 6.21%                 | No            |                  2 | On Loan: No      |
| BEACH ACQUISITION BIDCO                                      | Beach Acquisition Bidco LLC                                           | CUSIP: 07337JAE7<br>LEI: 254900F2FNX3GBTB6202 | Long             | DBT              | CORP              | US        |    725000 | PA      | $860944.55    | 0.13%             | 2032-07-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| BX Trust                                                     | BX 2025-BIO3 Mortgage Trust                                           | CUSIP: 123911AA7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   3950000 | PA      | $4089581.15   | 0.64%             | 2042-02-10      | Fixed         | 6.14%                 | No            |                  2 | On Loan: No      |
| Fannie Mae - CAS                                             | Connecticut Avenue Securities Trust 2024-R02                          | CUSIP: 20754GAA8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    481019 | PA      | $481473.58    | 0.08%             | 2044-02-25      | Floating      | 5.28%                 | No            |                  2 | On Loan: No      |
| GRUPPO SAN DONATO SPA                                        | Gruppo San Donato SPA                                                 | CUSIP: 000000000<br>LEI: 8156003649DB0704FC22 | Long             | DBT              | CORP              | IT        |   1125000 | PA      | $1334701.16   | 0.21%             | 2031-10-31      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| BOARD OF TRADE OF THE CITY OF CHICAGO, INC.                  | US 5YR NOTE (CBT)                                                     | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DIR              | CORP              | US        |       733 | NC      | $-134042.11   | -0.02%            |  |  |  | No            |                  1 | On Loan: No      |
| Freddie Mac - STACR                                          | Freddie Mac STACR REMIC Trust 2024-DNA2                               | CUSIP: 35564NCX9<br>LEI: 529900GRKKKHILZX4347 | Long             | ABS-MBS          | CORP              | US        |   2017662 | PA      | $2024427.90   | 0.32%             | 2044-05-25      | Floating      | 5.38%                 | No            |                  2 | On Loan: No      |
| HP ENTERPRISE CO                                             | Hewlett Packard Enterprise Co                                         | CUSIP: 42824CBV0<br>LEI: 549300BX44RGX6ANDV88 | Long             | DBT              | CORP              | US        |   1250000 | PA      | $1237294.76   | 0.19%             | 2034-10-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Avenue of Americas                                           | 1301 Trust 2025-AOA                                                   | CUSIP: 682461AJ7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1150000 | PA      | $1169501.24   | 0.18%             | 2042-08-11      | Variable      | 6.22%                 | No            |                  2 | On Loan: No      |
| DBC 2025-DBC Mortgage Trust                                  | DBC 2025-DBC Mortgage Trust                                           | CUSIP: 23306HAE5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1650000 | PA      | $1656655.94   | 0.26%             | 2038-06-15      | Floating      | 6.10%                 | No            |                  2 | On Loan: No      |
| Morgan Stanley Residential Mor                               | Morgan Stanley Residential Mortgage Loan Trust 2025-NQM8              | CUSIP: 61779QAA1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   3775000 | PA      | $3770092.50   | 0.59%             | 2070-09-25      | Variable      | 4.96%                 | No            |                  2 | On Loan: No      |
| Terex Corporation                                            | TEREX CORP                                                            | CUSIP: 88078FBQ0<br>LEI: YAWJZJYEQ7M1SYMOS462 | Long             | LON              | CORP              | US        |    930543 | PA      | $934758.17    | 0.15%             | 2031-10-08      | Floating      | 5.71%                 | No            |                  2 | On Loan: No      |
| McGraw-Hill Education Inc                                    | MCGRAW-HILL EDUCATION                                                 | CUSIP: 58063DAG8<br>LEI: 254900U6YJ9QZ4IQOR26 | Long             | LON              | CORP              | US        |   2060481 | PA      | $2060481.38   | 0.32%             | 2031-08-06      | Floating      | 6.81%                 | No            |                  2 | On Loan: No      |
| JPMORGAN CHASE & CO                                          | JPMorgan Chase & Co                                                   | CUSIP: 46647PFD3<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | DBT              | CORP              | US        |   1905000 | PA      | $1898773.66   | 0.30%             | 2031-10-22      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| Avenue of Americas                                           | 1301 Trust 2025-AOA                                                   | CUSIP: 682461AA6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1425000 | PA      | $1447675.03   | 0.23%             | 2042-08-11      | Variable      | 5.06%                 | No            |                  2 | On Loan: No      |
| COLT Funding LLC                                             | COLT 2025-8 Mortgage Loan Trust                                       | CUSIP: 19689DAC3<br>LEI: 2138009IZ4NQZAKAEN75 | Long             | ABS-MBS          | CORP              | US        |   2054054 | PA      | $2069702.31   | 0.32%             | 2070-08-25      | Variable      | 5.89%                 | No            |                  2 | On Loan: No      |
| HSBC SECURITIES (USA) INC.                                   | USD/MXN FORWARD                                                       | CUSIP: 000000000<br>LEI: CYYGQCGNHMHPSMRL3R97 | N/A              | DFE              | CORP              | US        |         1 | NC      | $-13798.82    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| ROYAL BANK OF CANADA                                         | Royal Bank of Canada                                                  | CUSIP: 78017DAC2<br>LEI: ES7IP3U3RHIGC71XBU11 | Long             | DBT              | CORP              | CA        |    350000 | PA      | $360519.22    | 0.06%             | 2031-02-04      | Fixed         | 5.15%                 | No            |                  2 | On Loan: No      |
| Wells Fargo Commercial Mortgag                               | Wells Fargo Commercial Mortgage Trust 2018-C46                        | CUSIP: 95001QAV3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   4799505 | PA      | $79507.16     | 0.01%             | 2051-08-15      | Variable      | 0.90%                 | No            |                  2 | On Loan: No      |
| SYNOPSYS INC                                                 | Synopsys Inc                                                          | CUSIP: 871607AE7<br>LEI: QG7T915N9S0NY5UKNE63 | Long             | DBT              | CORP              | US        |    850000 | PA      | $863802.33    | 0.13%             | 2035-04-01      | Fixed         | 5.15%                 | No            |                  2 | On Loan: No      |
| BDS Ltd                                                      | BDS 2025-FL15 LLC                                                     | CUSIP: 05556EAA4<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |   2600000 | PA      | $2602280.72   | 0.41%             | 2043-03-19      | Floating      | 5.43%                 | No            |                  2 | On Loan: No      |
| Omnia Partners, LLC                                          | OMNIA PARTNERS LLC                                                    | CUSIP: 68218HAE7<br>LEI: 254900ZD1P5CVG9GOS22 | Long             | LON              | CORP              | US        |   1243719 | PA      | $1246150.07   | 0.19%             | 2030-07-25      | Floating      | 6.36%                 | No            |                  2 | On Loan: No      |
| LETRA TESOURO NACIONAL                                       | Brazil Letras do Tesouro Nacional                                     | CUSIP: 000000000<br>LEI: 254900ZFY40OYEADAP90 | Long             | DBT              | NUSS              | BR        | 186000000 | PA      | $32688657.03  | 5.10%             | 2026-04-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Madison Iaq LLC                                              | MADISON IAQ LLC                                                       | CUSIP: 55759VAB4<br>LEI: 549300IXDNBXNHUPBU73 | Long             | LON              | CORP              | US        |   2288083 | PA      | $2295175.96   | 0.36%             | 2028-06-21      | Floating      | 7.32%                 | No            |                  2 | On Loan: No      |
| DOBANK SPA                                                   | doValue SpA                                                           | CUSIP: 000000000<br>LEI: 8156007AF7DB5FE05555 | Long             | DBT              | CORP              | IT        |   1150000 | PA      | $1325547.50   | 0.21%             | 2031-11-15      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| Freddie Mac - STACR                                          | Freddie Mac STACR REMIC Trust 2024-HQA1                               | CUSIP: 35564NBX0<br>LEI: 529900PGKDI4ZEXFQ523 | Long             | ABS-MBS          | CORP              | US        |    975512 | PA      | $976678.02    | 0.15%             | 2044-03-25      | Floating      | 5.43%                 | No            |                  2 | On Loan: No      |
| TORONTO-DOMINION BANK                                        | Toronto-Dominion Bank/The                                             | CUSIP: 89115KAE0<br>LEI: PT3QB789TSUIDF371261 | Long             | DBT              | CORP              | CA        |   1080000 | PA      | $1079464.08   | 0.17%             | 2028-10-13      | Fixed         | 4.11%                 | No            |                  2 | On Loan: No      |
| EUREX CLEARING AKTIENGESELLSCHAFT                            | EURO-BOBL                                                             | CUSIP: 000000000<br>LEI: 529900LN3S50JPU47S06 | N/A              | DIR              | CORP              | DE        |      -118 | NC      | $-72356.04    | -0.01%            |  |  |  | No            |                  1 | On Loan: No      |
| BOARD OF TRADE OF THE CITY OF CHICAGO, INC.                  | US LONG BOND(CBT)                                                     | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DIR              | CORP              | US        |      -153 | NC      | $-239738.91   | -0.04%            |  |  |  | No            |                  1 | On Loan: No      |
| ALLY FINANCIAL INC                                           | Ally Financial Inc                                                    | CUSIP: 02005NCA6<br>LEI: 549300JBN1OSM8YNAI90 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $1004637.21   | 0.16%             | 2033-07-31      | Fixed         | 5.55%                 | No            |                  2 | On Loan: No      |
| OPEN TEXT CORP                                               | Open Text Corp                                                        | CUSIP: 683715AF3<br>LEI: 549300HP7ONDQODZJV16 | Long             | DBT              | CORP              | CA        |   2425000 | PA      | $2527463.53   | 0.39%             | 2027-12-01      | Fixed         | 6.90%                 | No            |                  2 | On Loan: No      |
| Onslow Bay Financial LLC                                     | OBX 2024-NQM12 Trust                                                  | CUSIP: 67448PAA1<br>LEI: 254900MY906NOBBPOA44 | Long             | ABS-MBS          | CORP              | US        |   1658532 | PA      | $1665939.29   | 0.26%             | 2064-07-25      | Variable      | 5.47%                 | No            |                  2 | On Loan: No      |
| WMG ACQUISITION CORP                                         | WMG Acquisition Corp                                                  | CUSIP: 92933BAT1<br>LEI: 549300NAS11NXI33CP80 | Long             | DBT              | CORP              | US        |   1075000 | PA      | $1029261.76   | 0.16%             | 2029-12-01      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| JPMORGAN CHASE & CO                                          | JPMorgan Chase & Co                                                   | CUSIP: 46647PER3<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | DBT              | CORP              | US        |    975000 | PA      | $986273.61    | 0.15%             | 2035-10-22      | Fixed         | 4.95%                 | No            |                  2 | On Loan: No      |
| EDGE FINCO PLC                                               | Edge Finco PLC                                                        | CUSIP: 000000000<br>LEI: 648835NI8LJE5190NT73 | Long             | DBT              | CORP              | GB        |   1050000 | PA      | $1462668.72   | 0.23%             | 2031-08-15      | Fixed         | 8.12%                 | No            |                  2 | On Loan: No      |
| HIH Trust                                                    | HIH Trust 2024-61P                                                    | CUSIP: 40444VAA9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   2837531 | PA      | $2850832.10   | 0.44%             | 2041-10-15      | Floating      | 5.87%                 | No            |                  2 | On Loan: No      |
| Fannie Mae - CAS                                             | Connecticut Avenue Securities Trust 2025-R02                          | CUSIP: 20754TAC6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   2264237 | PA      | $2268315.11   | 0.35%             | 2045-02-25      | Floating      | 5.33%                 | No            |                  2 | On Loan: No      |
| LoanCore Issuer, Ltd.                                        | LoanCore 2025 2025-CRE8 Issuer LLC                                    | CUSIP: 53947FAA9<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |   2990000 | PA      | $2989718.64   | 0.47%             | 2042-08-17      | Floating      | 5.42%                 | No            |                  2 | On Loan: No      |
| AMRIZE FINANCE US LLC                                        | Amrize Finance US LLC                                                 | CUSIP: 43475RAC0<br>LEI: 529900FB2F1WKLFNGY62 | Long             | DBT              | CORP              | US        |    675000 | PA      | $691231.46    | 0.11%             | 2030-04-07      | Fixed         | 4.95%                 | No            |                  2 | On Loan: No      |
| HSBC SECURITIES (USA) INC.                                   | GBP/USD FORWARD                                                       | CUSIP: 000000000<br>LEI: CYYGQCGNHMHPSMRL3R97 | N/A              | DFE              | CORP              | US        |         1 | NC      | $-439466.41   | -0.07%            |  |  |  | No            |                  2 | On Loan: No      |
| Evergreen AcqCo 1 LP                                         | EVERGREEN ACQCO 1 LP                                                  | CUSIP: 30015FAJ5<br>LEI: 549300F6POVHG3ME8T95 | Long             | LON              | CORP              | US        |   1827628 | PA      | $1831511.98   | 0.29%             | 2032-09-13      | Floating      | 7.03%                 | No            |                  2 | On Loan: No      |
| STAR PARENT INC                                              | Star Parent Inc                                                       | CUSIP: 855170AA4<br>LEI: 254900GRGCJYRMDRWT73 | Long             | DBT              | CORP              | US        |   1275000 | PA      | $1363007.50   | 0.21%             | 2030-10-01      | Fixed         | 9.00%                 | No            |                  2 | On Loan: No      |
| Cross Mortgage Trust                                         | Cross 2025-H6 Mortgage Trust                                          | CUSIP: 22758TAC8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   2829843 | PA      | $2835392.18   | 0.44%             | 2070-07-25      | Variable      | 5.18%                 | No            |                  2 | On Loan: No      |
| INVITATION HOMES OP                                          | Invitation Homes Operating Partnership LP                             | CUSIP: 46188BAH5<br>LEI: 549300147YMUQB3GW319 | Long             | DBT              | CORP              | US        |   1675000 | PA      | $1683256.19   | 0.26%             | 2033-01-15      | Fixed         | 4.95%                 | No            |                  2 | On Loan: No      |
| SWCH Commercial Mortgage Trust                               | SWCH Commercial Mortgage Trust 2025-DATA                              | CUSIP: 78489CAA7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   2250000 | PA      | $2239387.43   | 0.35%             | 2042-02-15      | Floating      | 5.48%                 | No            |                  2 | On Loan: No      |
| CRH AMERICA FINANCE INC                                      | CRH America Finance Inc                                               | CUSIP: 12636YAE2<br>LEI: 549300WEVUODRJ4CWK56 | Long             | DBT              | CORP              | US        |    775000 | PA      | $804134.65    | 0.13%             | 2034-05-21      | Fixed         | 5.40%                 | No            |                  2 | On Loan: No      |
| Lightning Power, LLC                                         | LIGHTNING POWER LLC                                                   | CUSIP: 53229LAB3<br>LEI: 254900BWCHJ03XRL8K59 | Long             | LON              | CORP              | US        |    816750 | PA      | $821344.22    | 0.13%             | 2031-08-18      | Floating      | 6.25%                 | No            |                  2 | On Loan: No      |
| ALPHABET INC                                                 | Alphabet Inc                                                          | CUSIP: 02079KAP2<br>LEI: 5493006MHB84DD0ZWV18 | Long             | DBT              | CORP              | US        |   1950000 | PA      | $2248804.66   | 0.35%             | 2029-05-06      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| BRAVO Residential Funding Trus                               | BRAVO Residential Funding Trust 2025-NQM6                             | CUSIP: 10570MAC4<br>LEI: 254900U9H6FFPW4O4S55 | Long             | ABS-MBS          | CORP              | US        |   2338376 | PA      | $2350107.91   | 0.37%             | 2065-06-25      | Variable      | 5.33%                 | No            |                  2 | On Loan: No      |
| ADT SEC CORP                                                 | ADT Security Corp/The                                                 | CUSIP: 00109LAB9<br>LEI: 5493009JEEDYLVRA0J13 | Long             | DBT              | CORP              | US        |   1300000 | PA      | $1322031.02   | 0.21%             | 2033-10-15      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| BOARD OF TRADE OF THE CITY OF CHICAGO, INC.                  | US 10YR NOTE (CBT)                                                    | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DIR              | CORP              | US        |       443 | NC      | $-289464.07   | -0.05%            |  |  |  | No            |                  1 | On Loan: No      |
| JPMorgan Chase Bank, NA - CACL                               | JPMorgan Chase Bank NA - CACLN                                        | CUSIP: 46591HBW9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    651274 | PA      | $661753.85    | 0.10%             | 2028-09-25      | Fixed         | 28.35%                | No            |                  2 | On Loan: No      |
| BSPRT Issuer, Ltd.                                           | BSPRT 2025-FL12 Issuer LLC                                            | CUSIP: 05619BAA5<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |   2250000 | PA      | $2248351.88   | 0.35%             | 2043-01-17      | Floating      | 5.49%                 | No            |                  2 | On Loan: No      |
| Fannie Mae - CAS                                             | Connecticut Avenue Securities Trust 2022-R02                          | CUSIP: 20754BAF8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   5963000 | PA      | $6190269.01   | 0.97%             | 2042-01-25      | Floating      | 8.68%                 | No            |                  2 | On Loan: No      |
| Fannie Mae - CAS                                             | Connecticut Avenue Securities Trust 2021-R01                          | CUSIP: 20754RAJ5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1830000 | PA      | $1903328.10   | 0.30%             | 2041-10-25      | Floating      | 10.18%                | No            |                  2 | On Loan: No      |
| PERMANENT TSB GROUP                                          | Permanent TSB Group Holdings PLC                                      | CUSIP: 000000000<br>LEI: 635400DTNHVYGZODKQ93 | Long             | DBT              | CORP              | IE        |   1275000 | PA      | $1610557.12   | 0.25%             | 2029-06-30      | Fixed         | 6.62%                 | No            |                  2 | On Loan: No      |
| Onslow Bay Financial LLC                                     | OBX 2025-NQM19 Trust                                                  | CUSIP: 67449LAA9<br>LEI: 2549003HKVOL66FLG606 | Long             | ABS-MBS          | CORP              | US        |   4150000 | PA      | $4137550.00   | 0.65%             | 2065-10-25      | Variable      | 4.87%                 | No            |                  2 | On Loan: No      |
| Fannie Mae - CAS                                             | Connecticut Avenue Securities Trust 2025-R02                          | CUSIP: 20754TAD4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   2500000 | PA      | $2506618.75   | 0.39%             | 2045-02-25      | Floating      | 5.78%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF NIGERIA                                          | Nigeria Government International Bond                                 | CUSIP: 000000000<br>LEI: 549300GSBZD84TNEQ285 | Long             | DBT              | NUSS              | NG        |   1000000 | PA      | $1127712.93   | 0.18%             | 2034-12-09      | Fixed         | 10.38%                | No            |                  2 | On Loan: No      |
| BUBBLES BIDCO SPA                                            | Bubbles Bidco SPA                                                     | CUSIP: 000000000<br>LEI: 815600073942740CEB24 | Long             | DBT              | CORP              | IT        |    550000 | PA      | $655326.60    | 0.10%             | 2031-09-30      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| MAGNOLIA OIL GAS/MAG FIN                                     | Magnolia Oil & Gas Operating LLC / Magnolia Oil & Gas Finance Corp    | CUSIP: 559665AB0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1535000 | PA      | $1557771.73   | 0.24%             | 2032-12-01      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| EUREX CLEARING AKTIENGESELLSCHAFT                            | EURO-BUND                                                             | CUSIP: 000000000<br>LEI: 529900LN3S50JPU47S06 | N/A              | DIR              | CORP              | DE        |      -101 | NC      | $-189991.28   | -0.03%            |  |  |  | No            |                  1 | On Loan: No      |
| ARAB REPUBLIC OF EGYPT                                       | Egypt Government International Bond                                   | CUSIP: 000000000<br>LEI: 529900GFIVH4086NMH82 | Long             | DBT              | NUSS              | EG        |    700000 | PA      | $786234.03    | 0.12%             | 2030-04-16      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| Onslow Bay Financial LLC                                     | OBX 2025-NQM6 Trust                                                   | CUSIP: 67448UAC6<br>LEI: 254900W46UQEWQMYYZ02 | Long             | ABS-MBS          | CORP              | US        |   2115410 | PA      | $2136100.12   | 0.33%             | 2065-03-25      | Variable      | 5.96%                 | No            |                  2 | On Loan: No      |
| Apidos CLO Ltd                                               | Apidos CLO XII                                                        | CUSIP: 03764DAP6<br>LEI: 549300M5NMLBQJXUO195 | Long             | ABS-CBDO         | CORP              | KY        |   1450000 | PA      | $1449985.50   | 0.23%             | 2031-04-15      | Floating      | 5.35%                 | No            |                  2 | On Loan: No      |
| HCA INC                                                      | HCA Inc                                                               | CUSIP: 404119DF3<br>LEI: L3CJ6J7LJ2DX62FTXD46 | Long             | DBT              | CORP              | US        |   1500000 | PA      | $1482807.20   | 0.23%             | 2035-11-15      | Fixed         | 4.90%                 | No            |                  2 | On Loan: No      |
| COLT Funding LLC                                             | Colt 2024-7 Mortgage Loan Trust                                       | CUSIP: 19688YAA2<br>LEI: 213800EA95GXXC9AJO50 | Long             | ABS-MBS          | CORP              | US        |   2331170 | PA      | $2346839.49   | 0.37%             | 2069-12-26      | Variable      | 5.54%                 | No            |                  2 | On Loan: No      |
| Woodward Capital Management                                  | RCKT Mortgage Trust 2025-CES5                                         | CUSIP: 74942CAA7<br>LEI: 2549008EA2IHW9G2TZ48 | Long             | ABS-MBS          | CORP              | US        |    931042 | PA      | $942490.54    | 0.15%             | 2055-05-25      | Variable      | 5.69%                 | No            |                  2 | On Loan: No      |
| EQUITABLE AMERICA GLOBAL                                     | Equitable America Global Funding                                      | CUSIP: 29446Q2A0<br>LEI: 98450066CCBIACF06694 | Long             | DBT              | CORP              | US        |    450000 | PA      | $454928.28    | 0.07%             | 2028-06-09      | Fixed         | 4.65%                 | No            |                  2 | On Loan: No      |
| JP Morgan Mortgage Trust                                     | JP Morgan Mortgage Trust 2017-5                                       | CUSIP: 46590YAA2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     20684 | PA      | $20887.71     | 0.00%             | 2048-10-26      | Variable      | 4.96%                 | No            |                  2 | On Loan: No      |
| FORD MOTOR CREDIT CO LLC                                     | Ford Motor Credit Co LLC                                              | CUSIP: 345397H89<br>LEI: UDSQCVRUX5BONN0VY111 | Long             | DBT              | CORP              | US        |   1625000 | PA      | $1606078.76   | 0.25%             | 2035-10-31      | Fixed         | 5.87%                 | No            |                  2 | On Loan: No      |
| KKR Financial CLO Ltd                                        | KKR CLO 26 Ltd                                                        | CUSIP: 48253HAW5<br>LEI: 549300S5YSR4S7FFS332 | Long             | ABS-CBDO         | CORP              | KY        |   3050000 | PA      | $3049917.65   | 0.48%             | 2034-10-15      | Floating      | 5.00%                 | No            |                  2 | On Loan: No      |
| HSBC SECURITIES (USA) INC.                                   | USD/NOK FORWARD                                                       | CUSIP: 000000000<br>LEI: CYYGQCGNHMHPSMRL3R97 | N/A              | DFE              | CORP              | US        |         1 | NC      | $163942.64    | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| BRAVO Residential Funding Trus                               | Bravo Residential Funding Trust 2025-NQM10                            | CUSIP: 10570BAE4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   2025000 | PA      | $2021557.50   | 0.32%             | 2065-09-25      | Variable      | 5.33%                 | No            |                  2 | On Loan: No      |
| DUKE ENERGY CAROLINAS                                        | Duke Energy Carolinas LLC                                             | CUSIP: 26442CBP8<br>LEI: MWIUSDMN17TCR56VW396 | Long             | DBT              | CORP              | US        |    325000 | PA      | $334212.25    | 0.05%             | 2030-03-15      | Fixed         | 4.85%                 | No            |                  2 | On Loan: No      |
| SANTANDER CONSUMER AUTO RECEIVABLES TRUST 2021-C             | SANTANDER CONSUMER AUTO RECEIVABLES TRUST 2021-C                      | CUSIP: 80281HAD6<br>LEI: N/A                  | Long             | EC               | CORP              | US        |       100 | NS      | $1119665.24   | 0.17%             |  |  |  | No            |                  2 | On Loan: No      |
| SYNOPSYS INC                                                 | Synopsys Inc                                                          | CUSIP: 871607AC1<br>LEI: QG7T915N9S0NY5UKNE63 | Long             | DBT              | CORP              | US        |    435000 | PA      | $442844.56    | 0.07%             | 2030-04-01      | Fixed         | 4.85%                 | No            |                  2 | On Loan: No      |
| Freddie Mac - STACR                                          | Freddie Mac STACR REMIC Trust 2021-HQA4                               | CUSIP: 35564KPN3<br>LEI: 5493000ISE4NWBTOSK36 | Long             | ABS-MBS          | CORP              | US        |   1500000 | PA      | $1538034.90   | 0.24%             | 2041-12-25      | Floating      | 7.93%                 | No            |                  2 | On Loan: No      |
| Westlake Automobile Receivable                               | Westlake Automobile Receivables Trust 2023-4                          | CUSIP: 96041AAN6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   2025000 | PA      | $2095077.76   | 0.33%             | 2029-07-16      | Fixed         | 7.19%                 | No            |                  2 | On Loan: No      |
| Freddie Mac - STACR                                          | Freddie Mac STACR REMIC Trust 2023-DNA2                               | CUSIP: 35564KT58<br>LEI: 5493000IRI80KQJUNK40 | Long             | ABS-MBS          | CORP              | US        |   1740689 | PA      | $1765967.69   | 0.28%             | 2043-04-25      | Floating      | 6.29%                 | No            |                  2 | On Loan: No      |
| SANTANDER HOLDINGS USA                                       | Santander Holdings USA Inc                                            | CUSIP: 80282KBM7<br>LEI: 549300SMVCQN2P0O6I58 | Long             | DBT              | CORP              | US        |    925000 | PA      | $942497.05    | 0.15%             | 2030-09-06      | Fixed         | 5.35%                 | No            |                  2 | On Loan: No      |
| Fannie Mae - CAS                                             | Connecticut Avenue Securities Trust 2023-R07                          | CUSIP: 20753BAA0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1824462 | PA      | $1836810.42   | 0.29%             | 2043-09-25      | Floating      | 6.13%                 | No            |                  2 | On Loan: No      |
| QNITY ELECTRONICS INC                                        | Qnity Electronics Inc                                                 | CUSIP: 74743LAA8<br>LEI: 254900RSUG4J9TFFZX53 | Long             | DBT              | CORP              | US        |    750000 | PA      | $764162.25    | 0.12%             | 2032-08-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| BNP PARIBAS SECURITIES CORP.                                 | USD/ZAR FORWARD                                                       | CUSIP: 000000000<br>LEI: RCNB6OTYUAMMP879YW96 | N/A              | DFE              | CORP              | US        |         1 | NC      | $-158379.98   | -0.02%            |  |  |  | No            |                  2 | On Loan: No      |
| Freddie Mac - STACR                                          | Freddie Mac STACR REMIC Trust 2022-HQA3                               | CUSIP: 35564KE70<br>LEI: 5493000IRJ8RDHSNEL96 | Long             | ABS-MBS          | CORP              | US        |   1300000 | PA      | $1393374.19   | 0.22%             | 2042-08-25      | Floating      | 9.53%                 | No            |                  2 | On Loan: No      |
| DGWD Trust                                                   | DGWD Trust 2025-INFL                                                  | CUSIP: 23347FAA8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1650000 | PA      | $1659755.46   | 0.26%             | 2035-08-15      | Floating      | 5.63%                 | No            |                  2 | On Loan: No      |
| HUNGARY                                                      | Hungary Government International Bond                                 | CUSIP: 000000000<br>LEI: 5299003F3UFKGCCMAP43 | Long             | DBT              | NUSS              | HU        |   2225000 | PA      | $2660765.14   | 0.42%             | 2034-06-16      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Woodward Capital Management                                  | RCKT Mortgage Trust 2025-CES2                                         | CUSIP: 74942BAA9<br>LEI: 2549001985H26N17CK52 | Long             | ABS-MBS          | CORP              | US        |   1722914 | PA      | $1738302.88   | 0.27%             | 2055-02-25      | Variable      | 5.50%                 | No            |                  2 | On Loan: No      |
| BARCLAYS PLC                                                 | Barclays PLC                                                          | CUSIP: 06738EDD4<br>LEI: 213800LBQA1Y9L22JB70 | Long             | DBT              | CORP              | GB        |    975000 | PA      | $976808.31    | 0.15%             | 2029-11-11      | Fixed         | 4.48%                 | No            |                  2 | On Loan: No      |
| Lackawanna Energy Center LLC                                 | LACKAWANNA ENERGY CENTER                                              | CUSIP: 000000000<br>LEI: 549300IW2LJBNY42EC59 | Long             | LON              | CORP              | US        |   2241814 | PA      | $2249380.57   | 0.35%             | 2032-08-05      | Floating      | 7.11%                 | No            |                  2 | On Loan: No      |
| PETROLEOS MEXICANOS                                          | Petroleos Mexicanos                                                   | CUSIP: 71654QCL4<br>LEI: 549300CAZKPF4HKMPX17 | Long             | DBT              | CORP              | MX        |   1675000 | PA      | $1343790.02   | 0.21%             | 2048-02-12      | Fixed         | 6.35%                 | No            |                  2 | On Loan: No      |
| SYNOPSYS INC                                                 | Synopsys Inc                                                          | CUSIP: 871607AD9<br>LEI: QG7T915N9S0NY5UKNE63 | Long             | DBT              | CORP              | US        |    695000 | PA      | $709811.44    | 0.11%             | 2032-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CITIGROUP INC                                                | Citigroup Inc                                                         | CUSIP: 17327CAQ6<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |    750000 | PA      | $685485.62    | 0.11%             | 2033-01-25      | Fixed         | 3.06%                 | No            |                  2 | On Loan: No      |
| ALTICE FRAN LUX 3/HOLD 1                                     | Altice France Lux 3 / Altice Holdings 1                               | CUSIP: 020956AA6<br>LEI: N/A                  | Long             | DBT              | CORP              | LU        |    185000 | PA      | $174143.35    | 0.03%             | 2033-01-15      | Fixed         | 10.00%                | No            |                  2 | On Loan: No      |
| HSBC SECURITIES (USA) INC.                                   | CHF/USD FORWARD                                                       | CUSIP: 000000000<br>LEI: CYYGQCGNHMHPSMRL3R97 | N/A              | DFE              | CORP              | US        |         1 | NC      | $100431.84    | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| Fannie Mae - CAS                                             | Connecticut Avenue Securities Trust 2021-R02                          | CUSIP: 20754KAJ0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    650000 | PA      | $678757.17    | 0.11%             | 2041-11-25      | Floating      | 10.38%                | No            |                  2 | On Loan: No      |
| IVORY COAST                                                  | Ivory Coast Government International Bond                             | CUSIP: 000000000<br>LEI: 254900ICW11T82O6H590 | Long             | DBT              | NUSS              | CI        |    200000 | PA      | $212936.28    | 0.03%             | 2037-01-30      | Fixed         | 8.25%                 | No            |                  2 | On Loan: No      |
| CITGO PETROLEUM CORP                                         | CITGO Petroleum Corp                                                  | CUSIP: 17302XAM8<br>LEI: YX52P86PXMLYDOTUQ225 | Long             | DBT              | CORP              | US        |   1425000 | PA      | $1427612.03   | 0.22%             | 2026-06-15      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| BX Trust                                                     | BX Trust 2025-VLT6                                                    | CUSIP: 12433KAE7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1700000 | PA      | $1698356.10   | 0.26%             | 2042-03-15      | Floating      | 6.22%                 | No            |                  2 | On Loan: No      |
| Cross Mortgage Trust                                         | Cross 2024-H8 Mortgage Trust                                          | CUSIP: 22757GAC7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   3552714 | PA      | $3575596.44   | 0.56%             | 2069-12-25      | Variable      | 5.55%                 | No            |                  2 | On Loan: No      |
| Wells Fargo Commercial Mortgag                               | Wells Fargo Commercial Mortgage Trust 2025-HI                         | CUSIP: 949933AA3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1550000 | PA      | $1554695.57   | 0.24%             | 2042-10-15      | Floating      | 5.73%                 | No            |                  2 | On Loan: No      |
| FIESTA PURCHASER INC                                         | Fiesta Purchaser Inc                                                  | CUSIP: 31659AAB2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1350000 | PA      | $1456067.54   | 0.23%             | 2032-09-15      | Fixed         | 9.62%                 | No            |                  2 | On Loan: No      |
| Raising Canes Restaurants LLC                                | RAISING CANE'S RESTAURAN                                              | CUSIP: 75101XAQ0<br>LEI: 254900V6ADXFWHYOED66 | Long             | LON              | CORP              | US        |   2600000 | PA      | $2599454.00   | 0.41%             | 2032-10-25      | Floating      | 0.00%                 | No            |                  2 | On Loan: No      |
| VRTX Trust                                                   | VRTX Trust 2025-HQ                                                    | CUSIP: 91835XAE7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1825000 | PA      | $1856219.91   | 0.29%             | 2042-08-05      | Variable      | 5.92%                 | No            |                  2 | On Loan: No      |
| Freddie Mac - STACR                                          | Freddie Mac Stacr Remic Trust 2025-Dna3                               | CUSIP: 35564UAS6<br>LEI: 5299009HC4IGFM6RXF30 | Long             | ABS-MBS          | CORP              | US        |   1925000 | PA      | $1926739.82   | 0.30%             | 2045-09-25      | Floating      | 5.68%                 | No            |                  2 | On Loan: No      |
| BOARD OF TRADE OF THE CITY OF CHICAGO, INC.                  | US 10YR ULTRA                                                         | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DIR              | CORP              | US        |        37 | NC      | $-6079.48     | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| Sound Point Euro CLO Funding                                 | Sound Point Euro CLO I Funding DAC                                    | CUSIP: 000000000<br>LEI: 635400QLJRHTPJDQPY76 | Long             | ABS-CBDO         | CORP              | IE        |   2100000 | PA      | $2415118.73   | 0.38%             | 2034-05-25      | Floating      | 2.88%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF GUATEMALA                                        | Guatemala Government Bond                                             | CUSIP: 000000000<br>LEI: 529900QKDFFU9UWW5315 | Long             | DBT              | NUSS              | GT        |    925000 | PA      | $998075.00    | 0.16%             | 2037-02-06      | Fixed         | 6.55%                 | No            |                  2 | On Loan: No      |
| Madison Iaq LLC                                              | MADISON IAQ LLC                                                       | CUSIP: 55759VAD0<br>LEI: 549300IXDNBXNHUPBU73 | Long             | LON              | CORP              | US        |    299250 | PA      | $300746.25    | 0.05%             | 2032-05-06      | Floating      | 0.00%                 | No            |                  2 | On Loan: No      |
| TDF INFRASTRUCTURE SAS                                       | TDF Infrastructure SASU                                               | CUSIP: 000000000<br>LEI: 969500BWNQ1B0PI06I59 | Long             | DBT              | CORP              | FR        |   1100000 | PA      | $1295984.00   | 0.20%             | 2031-10-23      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| DEUTSCHE BANK AG                                             | Deutsche Bank AG                                                      | CUSIP: 000000000<br>LEI: 7LTWFZYICNSX8D621K86 | Long             | DBT              | CORP              | DE        |   1500000 | PA      | $1794059.64   | 0.28%             | 2030-04-04      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| Onslow Bay Financial LLC                                     | OBX 2024-NQM13 Trust                                                  | CUSIP: 67119PAC5<br>LEI: 254900W2SY2Z6X7UAX78 | Long             | ABS-MBS          | CORP              | US        |    998573 | PA      | $998299.78    | 0.16%             | 2064-06-25      | Variable      | 5.42%                 | No            |                  2 | On Loan: No      |
| Fannie Mae - CAS                                             | Connecticut Avenue Securities Trust 2022-R04                          | CUSIP: 20753YAL6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1775000 | PA      | $1956280.04   | 0.31%             | 2042-03-25      | Floating      | 13.68%                | No            |                  2 | On Loan: No      |
| REPUBLIC OF SRI LANKA                                        | Sri Lanka Government International Bond                               | CUSIP: 000000000<br>LEI: 254900IG6Y30I2QE2R92 | Long             | DBT              | NUSS              | LK        |   1200000 | PA      | $1111494.52   | 0.17%             | 2038-02-15      | Variable      | 3.60%                 | No            |                  2 | On Loan: No      |
| BRAVO Residential Funding Trus                               | BRAVO Residential Funding Trust 2025-NQM7                             | CUSIP: 10570TAP0<br>LEI: 254900I1LYOO3G3UAT10 | Long             | ABS-MBS          | CORP              | US        |   3044456 | PA      | $3068720.34   | 0.48%             | 2065-07-25      | Variable      | 5.46%                 | No            |                  2 | On Loan: No      |
| Morgan Stanley Residential Mor                               | Morgan Stanley Residential Mortgage Loan Trust 2025-NQM8              | CUSIP: 61779QAE3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   3075000 | PA      | $3077373.90   | 0.48%             | 2070-09-25      | Variable      | 5.42%                 | No            |                  2 | On Loan: No      |
| INTERCONTINENTAL EXCHANGE, INC.                              | CDS CDX.NA.HY.45.V1                                                   | CUSIP: 000000000<br>LEI: 5493000F4ZO33MV32P92 | N/A              | DCR              | CORP              | US        |         1 | NC      | $344154.61    | 0.05%             |  |  |  | No            |                  2 | On Loan: No      |
| REPUBLIC OF UZBEKISTAN                                       | Republic of Uzbekistan International Bond                             | CUSIP: 000000000<br>LEI: 213800L6VDKUM3TCM927 | Long             | DBT              | NUSS              | UZ        |    400000 | PA      | $404022.42    | 0.06%             | 2029-02-20      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| Driven Brands Funding, LLC                                   | Driven Brands Funding LLC                                             | CUSIP: 26209XAD3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1873184 | PA      | $1768163.69   | 0.28%             | 2051-10-20      | Fixed         | 2.79%                 | No            |                  2 | On Loan: No      |
| VTR Commercial Mortgage Trust                                | VTR Commercial Mortgage Trust 2025-STEM                               | CUSIP: 92890YAE5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    950000 | PA      | $955265.38    | 0.15%             | 2039-10-13      | Variable      | 6.06%                 | No            |                  2 | On Loan: No      |
| IVORY COAST                                                  | Ivory Coast Government International Bond                             | CUSIP: 000000000<br>LEI: 254900ICW11T82O6H590 | Long             | DBT              | NUSS              | CI        |    600000 | PA      | $634307.45    | 0.10%             | 2036-04-01      | Fixed         | 8.07%                 | No            |                  2 | On Loan: No      |
| MEX BONOS DESARR FIX RT                                      | Mexican Bonos                                                         | CUSIP: 000000000<br>LEI: 254900EGTWEU67VP6075 | Long             | DBT              | NUSS              | MX        | 201930000 | PA      | $10253203.59  | 1.60%             | 2034-11-23      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| PRIME HEALTHCARE SERVICE                                     | Prime Healthcare Services Inc                                         | CUSIP: 74165HAC2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1000000 | PA      | $1052895.00   | 0.16%             | 2029-09-01      | Fixed         | 9.38%                 | No            |                  2 | On Loan: No      |
| Oak Street Investment Grade Ne                               | Oak Street Investment Grade Net Lease Fund Series 2020-1              | CUSIP: 67181DAE1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   2575083 | PA      | $2215303.24   | 0.35%             | 2050-11-20      | Fixed         | 3.39%                 | No            |                  2 | On Loan: No      |
| Tharaldson Hotel Portfolio Tru                               | THPT 2023-THL Mortgage Trust                                          | CUSIP: 87252LAA3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   2474254 | PA      | $2507679.04   | 0.39%             | 2034-12-10      | Variable      | 6.99%                 | No            |                  2 | On Loan: No      |
| DURST Commercial Mortgage Trus                               | Durst Commercial Mortgage Trust 2025-151                              | CUSIP: 266895AE1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1475000 | PA      | $1505865.70   | 0.23%             | 2042-08-10      | Variable      | 5.82%                 | No            |                  2 | On Loan: No      |
| Onslow Bay Financial LLC                                     | OBX 2024-NQM18 Trust                                                  | CUSIP: 673913AA7<br>LEI: 254900NK9PNLY9I00149 | Long             | ABS-MBS          | CORP              | US        |   3322083 | PA      | $3337355.07   | 0.52%             | 2064-10-25      | Variable      | 5.41%                 | No            |                  2 | On Loan: No      |
| CHICAGO MERCANTILE EXCHANGE INC.                             | S&P500 EMINI                                                          | CUSIP: 000000000<br>LEI: SNZ2OJLFK8MNNCLQOF39 | N/A              | DE               | CORP              | US        |      -104 | NC      | $-191100.00   | -0.03%            |  |  |  | No            |                  1 | On Loan: No      |
| Octagon Investment Partners 44                               | Octagon Investment Partners 44 Ltd                                    | CUSIP: 67577LAS4<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   2200000 | PA      | $2201577.40   | 0.34%             | 2034-10-15      | Floating      | 5.05%                 | No            |                  2 | On Loan: No      |
| ALPHA GENERATION LLC                                         | Alpha Generation LLC                                                  | CUSIP: 02073LAC5<br>LEI: 254900K5V62L4YGVKF49 | Long             | DBT              | CORP              | US        |    200000 | PA      | $202462.23    | 0.03%             | 2034-01-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| BRAVO Residential Funding Trus                               | BRAVO Residential Funding Trust 2025-NQM2                             | CUSIP: 10569NAC5<br>LEI: 254900TZWRKTBX2YNW23 | Long             | ABS-MBS          | CORP              | US        |   1581511 | PA      | $1595436.01   | 0.25%             | 2064-11-25      | Variable      | 5.68%                 | No            |                  2 | On Loan: No      |
| Fannie Mae - CAS                                             | Connecticut Avenue Securities Trust 2025-R04                          | CUSIP: 20755TAC5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   2450000 | PA      | $2459783.34   | 0.38%             | 2045-05-25      | Floating      | 5.68%                 | No            |                  2 | On Loan: No      |
| Freddie Mac - STACR                                          | Freddie Mac STACR REMIC Trust 2023-HQA3                               | CUSIP: 35564K3F4<br>LEI: 529900ZTXRUUVE8G8W08 | Long             | ABS-MBS          | CORP              | US        |   4492094 | PA      | $4537523.05   | 0.71%             | 2043-11-25      | Floating      | 6.03%                 | No            |                  2 | On Loan: No      |
| KEHE DIST/FIN / NEXTWAVE                                     | KeHE Distributors LLC / KeHE Finance Corp / NextWave Distribution Inc | CUSIP: 487526AC9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1400000 | PA      | $1467562.42   | 0.23%             | 2029-02-15      | Fixed         | 9.00%                 | No            |                  2 | On Loan: No      |
| Onslow Bay Financial LLC                                     | OBX 2025-NQM7 Trust                                                   | CUSIP: 67121DAA2<br>LEI: 2549008GB179CC65SK60 | Long             | ABS-MBS          | CORP              | US        |   1805962 | PA      | $1823757.26   | 0.28%             | 2055-05-25      | Variable      | 5.56%                 | No            |                  2 | On Loan: No      |
| SBA TOWER TRUST                                              | SBA Tower Trust                                                       | CUSIP: 78403DAZ3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2200000 | PA      | $2253362.32   | 0.35%             | 2028-01-15      | Fixed         | 6.60%                 | No            |                  2 | On Loan: No      |
| Life Financial Services Trust                                | Life 2022-BMR Mortgage Trust                                          | CUSIP: 53218DAA6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1800000 | PA      | $1743654.42   | 0.27%             | 2039-05-15      | Floating      | 5.33%                 | No            |                  2 | On Loan: No      |
| Buckhorn Park CLO, Ltd.                                      | Buckhorn Park CLO Ltd                                                 | CUSIP: 118382BA7<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   2200000 | PA      | $2200902.00   | 0.34%             | 2034-07-18      | Floating      | 4.95%                 | No            |                  2 | On Loan: No      |
| HSBC SECURITIES (USA) INC.                                   | USD/JPY FORWARD                                                       | CUSIP: 000000000<br>LEI: CYYGQCGNHMHPSMRL3R97 | N/A              | DFE              | CORP              | US        |         1 | NC      | $178839.59    | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| CHICAGO MERCANTILE EXCHANGE INC.                             | S&P500 EMINI                                                          | CUSIP: 000000000<br>LEI: SNZ2OJLFK8MNNCLQOF39 | N/A              | DE               | CORP              | US        |       -28 | NC      | $-39550.00    | -0.01%            |  |  |  | No            |                  1 | On Loan: No      |
| BROADCOM INC                                                 | Broadcom Inc                                                          | CUSIP: 11135FCW9<br>LEI: 549300WV6GIDOZJTV909 | Long             | DBT              | CORP              | US        |    900000 | PA      | $898539.82    | 0.14%             | 2030-10-15      | Fixed         | 4.20%                 | No            |                  2 | On Loan: No      |
| COMM Mortgage Trust                                          | COMM 2025-SBX Mortgage Trust                                          | CUSIP: 20047UAC0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   2400000 | PA      | $2413840.32   | 0.38%             | 2041-08-10      | Variable      | 5.55%                 | No            |                  2 | On Loan: No      |
| TRANSDIGM INC                                                | TRANSDIGM INC                                                         | CUSIP: 89364MCA0<br>LEI: 88Q84GB3X55CF5OC7582 | Long             | LON              | CORP              | US        |   1091709 | PA      | $1094421.44   | 0.17%             | 2031-02-28      | Floating      | 6.66%                 | No            |                  2 | On Loan: No      |
| OPAL BIDCO SAS                                               | Opal Bidco SAS                                                        | CUSIP: 000000000<br>LEI: 969500R96XT7XY2UJ564 | Long             | DBT              | CORP              | FR        |   1400000 | PA      | $1676147.49   | 0.26%             | 2032-03-31      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| BX Trust                                                     | BX Trust 2025-VLT6                                                    | CUSIP: 12433KAC1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   2200000 | PA      | $2204027.10   | 0.34%             | 2042-03-15      | Floating      | 5.92%                 | No            |                  2 | On Loan: No      |
| HPS Loan Management Ltd                                      | HPS Loan Management 2021-16 Ltd                                       | CUSIP: 40440XAL5<br>LEI: 529900WV2JMUABMCHN18 | Long             | ABS-CBDO         | CORP              | KY        |   2475000 | PA      | $2476247.40   | 0.39%             | 2035-01-23      | Floating      | 4.97%                 | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS GROUP INC                                      | Goldman Sachs Group Inc/The                                           | CUSIP: 38141GZM9<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | DBT              | CORP              | US        |    250000 | PA      | $229446.09    | 0.04%             | 2033-02-24      | Fixed         | 3.10%                 | No            |                  2 | On Loan: No      |
| NRTH PARK Mortgage Trust                                     | NRTH Commercial Mortgage Trust 2025-PARK                              | CUSIP: 669985AA1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   3125000 | PA      | $3130639.38   | 0.49%             | 2040-10-15      | Floating      | 5.54%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF GUATEMALA                                        | Guatemala Government Bond                                             | CUSIP: 000000000<br>LEI: 529900QKDFFU9UWW5315 | Long             | DBT              | NUSS              | GT        |   1090000 | PA      | $1084550.00   | 0.17%             | 2027-06-05      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| Voya CLO Ltd                                                 | Voya CLO 2020-1 Ltd                                                   | CUSIP: 92918EAU1<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   8000000 | PA      | $8006704.00   | 1.25%             | 2034-07-16      | Floating      | 4.97%                 | No            |                  2 | On Loan: No      |
| BOARD OF TRADE OF THE CITY OF CHICAGO, INC.                  | US 2YR NOTE (CBT)                                                     | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DIR              | CORP              | US        |      -702 | NC      | $204880.39    | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| FRESSNAPF HOLDING SE                                         | Fressnapf Holding SE                                                  | CUSIP: 000000000<br>LEI: 529900NLSO3VLFW8JQ35 | Long             | DBT              | CORP              | DE        |   1400000 | PA      | $1641089.01   | 0.26%             | 2031-10-31      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Freddie Mac - STACR                                          | Freddie Mac STACR REMIC Trust 2023-HQA3                               | CUSIP: 35564K3G2<br>LEI: 529900ZTXRUUVE8G8W08 | Long             | ABS-MBS          | CORP              | US        |    641586 | PA      | $645302.59    | 0.10%             | 2043-11-25      | Floating      | 6.03%                 | No            |                  2 | On Loan: No      |
| BOOTS GROUP FINCO LP                                         | Boots Group Finco LP                                                  | CUSIP: 000000000<br>LEI: 254900YVLYOVF1PF1N93 | Long             | DBT              | CORP              | US        |    950000 | PA      | $1137524.80   | 0.18%             | 2032-08-31      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| NOVELIS CORP                                                 | Novelis Corp                                                          | CUSIP: 670001AN6<br>LEI: 549300G5F3W3B52WYL23 | Long             | DBT              | CORP              | US        |    725000 | PA      | $735168.13    | 0.11%             | 2033-08-15      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| Iron Mountain Information Management LLC                     | IRON MOUNTAIN INC                                                     | CUSIP: 46284NAV1<br>LEI: SQL3F6CKNNBM3SQGHX24 | Long             | LON              | CORP              | US        |    937385 | PA      | $939240.80    | 0.15%             | 2031-01-31      | Floating      | 0.00%                 | No            |                  2 | On Loan: No      |
| BLUE OWL CAPITAL CORP                                        | Blue Owl Capital Corp                                                 | CUSIP: 69121KAE4<br>LEI: 2549000BD79OOCPF2L94 | Long             | DBT              | CORP              | US        |    125000 | PA      | $123885.86    | 0.02%             | 2026-07-15      | Fixed         | 3.40%                 | No            |                  2 | On Loan: No      |
| Onslow Bay Financial LLC                                     | OBX 2025-NQM3 Trust                                                   | CUSIP: 67448YAC8<br>LEI: 254900MBGY6CR10DAX67 | Long             | ABS-MBS          | CORP              | US        |   2121141 | PA      | $2141494.08   | 0.33%             | 2064-12-01      | Variable      | 5.65%                 | No            |                  2 | On Loan: No      |
| WELLS FARGO & COMPANY                                        | Wells Fargo & Co                                                      | CUSIP: 95000U3D3<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | DBT              | CORP              | US        |   1850000 | PA      | $1921974.07   | 0.30%             | 2034-04-24      | Fixed         | 5.39%                 | No            |                  2 | On Loan: No      |
| Fannie Mae - CAS                                             | Connecticut Avenue Securities Trust 2023-R06                          | CUSIP: 20754EAA3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    507802 | PA      | $509818.94    | 0.08%             | 2043-07-25      | Floating      | 5.88%                 | No            |                  2 | On Loan: No      |
| FLUTTER TREASURY DAC                                         | Flutter Treasury DAC                                                  | CUSIP: 000000000<br>LEI: 635400JE8VLL9UFVIC38 | Long             | DBT              | CORP              | IE        |   1050000 | PA      | $1394247.74   | 0.22%             | 2031-06-04      | Fixed         | 6.12%                 | No            |                  2 | On Loan: No      |
| MORGAN STANLEY & CO. LLC                                     | EUR/USD FORWARD                                                       | CUSIP: 000000000<br>LEI: 9R7GPTSO7KV3UQJZQ078 | N/A              | DFE              | CORP              | US        |         1 | NC      | $1554551.87   | 0.24%             |  |  |  | No            |                  2 | On Loan: No      |
| VB-S1 Issuer LLC                                             | VB-S1 Issuer LLC - VBTEL                                              | CUSIP: 91823ABE0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1000000 | PA      | $1017488.20   | 0.16%             | 2054-05-15      | Fixed         | 6.64%                 | No            |                  2 | On Loan: No      |
| DTE ENERGY CO                                                | DTE Energy Co                                                         | CUSIP: 233331BP1<br>LEI: 549300IX8SD6XXD71I78 | Long             | DBT              | CORP              | US        |   1250000 | PA      | $1247187.94   | 0.19%             | 2035-10-01      | Fixed         | 5.05%                 | No            |                  2 | On Loan: No      |
| CORPORACION INMOBILIARIA                                     | Corp Inmobiliaria Vesta SAB de CV                                     | CUSIP: 21989DAB8<br>LEI: 4469000001BIRIFZJ959 | Long             | DBT              | CORP              | MX        |   2100000 | PA      | $2132025.00   | 0.33%             | 2033-01-30      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| American Airlines Inc                                        | AADVANTAGELOYALTYIPLTD                                                | CUSIP: 02376CBT1<br>LEI: N/A                  | Long             | LON              | CORP              | KY        |    418947 | PA      | $421042.11    | 0.07%             | 2032-05-28      | Floating      | 7.13%                 | No            |                  2 | On Loan: No      |
| Golub Capital Partners Static                                | Golub Capital Partners Static 2024-1 Ltd                              | CUSIP: 381929AN8<br>LEI: 25490083RWI1EQQYLH43 | Long             | ABS-CBDO         | CORP              | KY        |   2016000 | PA      | $2014992.00   | 0.31%             | 2035-07-20      | Floating      | 5.45%                 | No            |                  2 | On Loan: No      |
| Payden Cash Reserves Money Market Fund                       | Payden Cash Reserves Money Market Fund                                | CUSIP: 704329598<br>LEI: 549300SI0EB26HO5RT16 | Long             | STIV             | RF                | US        |  12178148 | NS      | $12178148.06  | 1.90%             |  |  |  | No            |                  1 | On Loan: No      |
| BRAVO Residential Funding Trus                               | Bravo Residential Funding Trust Series 2025-NQM1                      | CUSIP: 10569MAC7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   2553395 | PA      | $2573377.92   | 0.40%             | 2064-12-25      | Variable      | 5.60%                 | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS GROUP INC                                      | Goldman Sachs Group Inc/The                                           | CUSIP: 38141GD27<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | DBT              | CORP              | US        |   3250000 | PA      | $3240902.05   | 0.51%             | 2029-10-21      | Fixed         | 4.15%                 | No            |                  2 | On Loan: No      |
| SURGERY CENTER HOLDINGS                                      | Surgery Center Holdings Inc                                           | CUSIP: 86881WAF9<br>LEI: 54930054EVI5HWPPW113 | Long             | DBT              | CORP              | US        |    910000 | PA      | $937447.42    | 0.15%             | 2032-04-15      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| Galaxy CLO Ltd                                               | Galaxy XXII CLO Ltd                                                   | CUSIP: 36320TBD4<br>LEI: 54930022KENWLYJ8SJ86 | Long             | ABS-CBDO         | CORP              | KY        |   3500000 | PA      | $3504868.50   | 0.55%             | 2034-04-16      | Floating      | 5.13%                 | No            |                  2 | On Loan: No      |
| MORGAN STANLEY & CO. LLC                                     | USD/GBP FORWARD                                                       | CUSIP: 000000000<br>LEI: 9R7GPTSO7KV3UQJZQ078 | N/A              | DFE              | CORP              | US        |         1 | NC      | $-10055.67    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| BXMT Ltd                                                     | BXMT 2025-FL5 Ltd                                                     | CUSIP: 05613YAA1<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |   3200000 | PA      | $3187673.92   | 0.50%             | 2042-10-18      | Floating      | 5.67%                 | No            |                  2 | On Loan: No      |
| PETROLEOS MEXICANOS                                          | Petroleos Mexicanos                                                   | CUSIP: 000000000<br>LEI: 549300CAZKPF4HKMPX17 | Long             | DBT              | CORP              | MX        |   1400000 | PA      | $1614353.63   | 0.25%             | 2025-11-24      | Fixed         | 3.62%                 | No            |                  2 | On Loan: No      |
| Fannie Mae - CAS                                             | Connecticut Avenue Securities Trust 2025-R06                          | CUSIP: 20754YAB7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   3858713 | PA      | $3858569.39   | 0.60%             | 2045-09-25      | Floating      | 5.13%                 | No            |                  2 | On Loan: No      |
| Leia Finco US LLC                                            | LEIA FINCO US LLC                                                     | CUSIP: 52526CAB5<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    671625 | PA      | $673935.39    | 0.11%             | 2031-10-09      | Floating      | 7.19%                 | No            |                  2 | On Loan: No      |
| DURST Commercial Mortgage Trus                               | Durst Commercial Mortgage Trust 2025-151                              | CUSIP: 266895AG6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1725000 | PA      | $1778931.09   | 0.28%             | 2042-08-10      | Variable      | 6.79%                 | No            |                  2 | On Loan: No      |
| Hotwire Funding LLC                                          | Hotwire Funding LLC                                                   | CUSIP: 44148JAM1<br>LEI: 254900ZCO90MCT7Y9348 | Long             | ABS-O            | CORP              | US        |    750000 | PA      | $781279.95    | 0.12%             | 2054-06-20      | Fixed         | 9.19%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF UZBEKISTAN                                       | Republic of Uzbekistan International Bond                             | CUSIP: 000000000<br>LEI: 213800L6VDKUM3TCM927 | Long             | DBT              | NUSS              | UZ        |    900000 | PA      | $841866.75    | 0.13%             | 2030-11-25      | Fixed         | 3.70%                 | No            |                  2 | On Loan: No      |
| SANTANDER DRIVE AUTO RECEIVABLES TRUST 2023-S1               | SANTANDER DRIVE AUTO RECEIVABLES TRUST 2023-S1                        | CUSIP: 80286QAC3<br>LEI: N/A                  | Long             | EC               | CORP              | US        |       126 | NS      | $3158164.54   | 0.49%             |  |  |  | No            |                  2 | On Loan: No      |
| M&T BANK CORPORATION                                         | M&T Bank Corp                                                         | CUSIP: 55261FAZ7<br>LEI: 549300WYXDDBYRASEG81 | Long             | DBT              | CORP              | US        |   2400000 | PA      | $2417991.98   | 0.38%             | 2035-07-30      | Fixed         | 5.40%                 | No            |                  2 | On Loan: No      |
| BRAVO Residential Funding Trus                               | Bravo Residential Funding Trust 2025-Nqm3                             | CUSIP: 105927AC1<br>LEI: 254900KREJHICFBDC014 | Long             | ABS-MBS          | CORP              | US        |   1111278 | PA      | $1120001.35   | 0.17%             | 2065-03-25      | Variable      | 5.57%                 | No            |                  2 | On Loan: No      |
| HSBC SECURITIES (USA) INC.                                   | GBP/USD FORWARD                                                       | CUSIP: 000000000<br>LEI: CYYGQCGNHMHPSMRL3R97 | N/A              | DFE              | CORP              | US        |         1 | NC      | $253552.40    | 0.04%             |  |  |  | No            |                  2 | On Loan: No      |
| Freddie Mac - STACR                                          | Freddie Mac STACR REMIC Trust 2022-DNA4                               | CUSIP: 35564KXA2<br>LEI: 5493000IS4CDPWRMWB65 | Long             | ABS-MBS          | CORP              | US        |   2850000 | PA      | $3028362.69   | 0.47%             | 2042-05-25      | Floating      | 9.43%                 | No            |                  2 | On Loan: No      |
| Verus Securitization Trust                                   | Verus Securitization Trust 2025-2                                     | CUSIP: 92540VAA3<br>LEI: 213800TTP1CNX4WER720 | Long             | ABS-MBS          | CORP              | US        |   1618416 | PA      | $1626286.37   | 0.25%             | 2070-03-25      | Variable      | 5.31%                 | No            |                  2 | On Loan: No      |
| Onslow Bay Financial LLC                                     | OBX 2025-NQM3 Trust                                                   | CUSIP: 67448YAE4<br>LEI: 254900MBGY6CR10DAX67 | Long             | ABS-MBS          | CORP              | US        |   1855999 | PA      | $1870675.13   | 0.29%             | 2064-12-01      | Variable      | 5.95%                 | No            |                  2 | On Loan: No      |
| RENTOKIL INITIAL PLC                                         | Rentokil Initial PLC                                                  | CUSIP: 000000000<br>LEI: 549300VN4WV7Z6T14K68 | Long             | DBT              | CORP              | GB        |   1700000 | PA      | $1854223.76   | 0.29%             | 2028-10-14      | Fixed         | 0.50%                 | No            |                  2 | On Loan: No      |
| Canyon Capital CLO Ltd                                       | Canyon Capital CLO 2021-1 Ltd                                         | CUSIP: 13877EAL6<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   7000000 | PA      | $6999818.00   | 1.09%             | 2034-04-15      | Floating      | 4.95%                 | No            |                  2 | On Loan: No      |
| GENERAL MOTORS FINL CO                                       | General Motors Financial Co Inc                                       | CUSIP: 37045XEZ5<br>LEI: 5493008B6JBRUJ90QL97 | Long             | DBT              | CORP              | US        |   2325000 | PA      | $2359439.71   | 0.37%             | 2029-10-06      | Fixed         | 4.90%                 | No            |                  2 | On Loan: No      |
| VIPER ENERGY PARTNERS LL                                     | Viper Energy Partners LLC                                             | CUSIP: 92764MAB0<br>LEI: 54930010ZZ02MRGRI973 | Long             | DBT              | CORP              | US        |    875000 | PA      | $892858.75    | 0.14%             | 2035-08-01      | Fixed         | 5.70%                 | No            |                  2 | On Loan: No      |
| Arbor Realty Collateralized Lo                               | Arbor Realty Commercial Real Estate Notes 2021-FL4 Ltd                | CUSIP: 03880RAC3<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   1650000 | PA      | $1654285.38   | 0.26%             | 2036-11-15      | Floating      | 5.85%                 | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS GROUP INC                                      | Goldman Sachs Group Inc/The                                           | CUSIP: 38141GD35<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | DBT              | CORP              | US        |   3250000 | PA      | $3236712.34   | 0.50%             | 2031-10-21      | Fixed         | 4.37%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF SOUTH AFRICA                                     | Republic of South Africa Government Bond                              | CUSIP: 000000000<br>LEI: 378900AAFB4F17004C49 | Long             | DBT              | NUSS              | ZA        |  94060000 | PA      | $5437664.40   | 0.85%             | 2035-02-28      | Fixed         | 8.88%                 | No            |                  2 | On Loan: No      |
| INTERCONTINENTAL EXCHANGE, INC.                              | ENERGY SELECT SECTOR SPDR FUND                                        | CUSIP: 000000000<br>LEI: 5493000F4ZO33MV32P92 | N/A              | DE               | CORP              | US        |      1817 | NC      | $21804.00     | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| FRONTIER COMMUNICATIONS                                      | Frontier Communications Holdings LLC                                  | CUSIP: 35906ABF4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1000000 | PA      | $999404.30    | 0.16%             | 2028-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| BX Trust                                                     | BX Commercial Mortgage Trust 2021-VOLT                                | CUSIP: 05609VAS4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   2906484 | PA      | $2865582.87   | 0.45%             | 2036-09-15      | Floating      | 7.00%                 | No            |                  2 | On Loan: No      |
| Freddie Mac - STACR                                          | Freddie Mac STACR REMIC Trust 2023-HQA1                               | CUSIP: 35564KY37<br>LEI: 5493000IRHY5YZIPQD14 | Long             | ABS-MBS          | CORP              | US        |   1400000 | PA      | $1541787.52   | 0.24%             | 2043-05-25      | Floating      | 9.68%                 | No            |                  2 | On Loan: No      |
| Diamond Infrastructure Funding                               | Diamond Infrastructure Funding LLC                                    | CUSIP: 25265LAC4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1150000 | PA      | $1113248.76   | 0.17%             | 2049-04-15      | Fixed         | 2.35%                 | No            |                  2 | On Loan: No      |
| STANDARD BUILDING SOLUTI                                     | Standard Building Solutions Inc                                       | CUSIP: 853191AA2<br>LEI: 54930064UHXCIUWVI755 | Long             | DBT              | CORP              | US        |   1550000 | PA      | $1594968.23   | 0.25%             | 2032-08-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Dryden Leveraged Loan CDO                                    | Dryden 39 Euro CLO 2015 DAC                                           | CUSIP: 000000000<br>LEI: 635400A5F6GDIM6HUG89 | Long             | ABS-CBDO         | CORP              | IE        |    650000 | PA      | $746590.48    | 0.12%             | 2035-04-15      | Floating      | 2.98%                 | No            |                  2 | On Loan: No      |
| WELLS FARGO & COMPANY                                        | Wells Fargo & Co                                                      | CUSIP: 95000U3W1<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | DBT              | CORP              | US        |   1600000 | PA      | $1650412.90   | 0.26%             | 2031-04-23      | Fixed         | 5.15%                 | No            |                  2 | On Loan: No      |
| SUMITOM MITSUI TRST                                          | Sumitomo Mitsui Trust Group Inc                                       | CUSIP: 86566AAA0<br>LEI: 353800P843RLCDBLNT17 | Long             | DBT              | CORP              | JP        |    825000 | PA      | $838928.01    | 0.13%             | 2036-09-11      | Fixed         | 5.42%                 | No            |                  2 | On Loan: No      |
| Alpha Generation LLC                                         | ALPHA GENERATION LLC                                                  | CUSIP: 02072UAC6<br>LEI: 254900K5V62L4YGVKF49 | Long             | LON              | CORP              | US        |   1289861 | PA      | $1292936.88   | 0.20%             | 2031-09-30      | Floating      | 5.96%                 | No            |                  2 | On Loan: No      |
| Fannie Mae - CAS                                             | Connecticut Avenue Securities Trust 2025-R02                          | CUSIP: 20754TAB8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   2128600 | PA      | $2133745.11   | 0.33%             | 2045-02-25      | Floating      | 5.18%                 | No            |                  2 | On Loan: No      |
| BARCLAYS PLC                                                 | COP/USD FORWARD                                                       | CUSIP: 000000000<br>LEI: 213800LBQA1Y9L22JB70 | N/A              | DFE              | CORP              | US        |         1 | NC      | $-353589.88   | -0.06%            |  |  |  | No            |                  2 | On Loan: No      |
| Onslow Bay Financial LLC                                     | OBX 2025-NQM5 Trust                                                   | CUSIP: 67121EAA0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   4156271 | PA      | $4174150.24   | 0.65%             | 2065-03-25      | Variable      | 5.52%                 | No            |                  2 | On Loan: No      |
| Freddie Mac - STACR                                          | Freddie Mac STACR REMIC Trust 2021-DNA6                               | CUSIP: 35564KKY4<br>LEI: 5493000ISONLNOUKGB71 | Long             | ABS-MBS          | CORP              | US        |    669469 | PA      | $672398.80    | 0.10%             | 2041-10-25      | Floating      | 5.68%                 | No            |                  2 | On Loan: No      |
| NRTH PARK Mortgage Trust                                     | NRTH Commercial Mortgage Trust 2025-PARK                              | CUSIP: 669985AC7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1800000 | PA      | $1804262.76   | 0.28%             | 2040-10-15      | Floating      | 5.79%                 | No            |                  2 | On Loan: No      |
| COLT Funding LLC                                             | COLT 2025-8 Mortgage Loan Trust                                       | CUSIP: 19689DAA7<br>LEI: 2138009IZ4NQZAKAEN75 | Long             | ABS-MBS          | CORP              | US        |   1344916 | PA      | $1357951.85   | 0.21%             | 2070-08-25      | Variable      | 5.48%                 | No            |                  2 | On Loan: No      |
| Diamond Issuer LLC                                           | Diamond Issuer LLC                                                    | CUSIP: 25267TAS0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   2000000 | PA      | $1874286.80   | 0.29%             | 2051-11-20      | Fixed         | 3.79%                 | No            |                  2 | On Loan: No      |
| BOARD OF TRADE OF THE CITY OF CHICAGO, INC.                  | US ULTRA BOND CBT                                                     | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DIR              | CORP              | US        |      -190 | NC      | $-605469.97   | -0.09%            |  |  |  | No            |                  1 | On Loan: No      |
| CHICAGO MERCANTILE EXCHANGE INC.                             | S&P500 EMINI                                                          | CUSIP: 000000000<br>LEI: SNZ2OJLFK8MNNCLQOF39 | N/A              | DE               | CORP              | US        |        28 | NC      | $114100.00    | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| CHICAGO MERCANTILE EXCHANGE INC.                             | 3 MONTH SOFR                                                          | CUSIP: 000000000<br>LEI: SNZ2OJLFK8MNNCLQOF39 | N/A              | DIR              | CORP              | US        |       635 | NC      | $49461.74     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| HSBC SECURITIES (USA) INC.                                   | BRL/USD FORWARD                                                       | CUSIP: 000000000<br>LEI: CYYGQCGNHMHPSMRL3R97 | N/A              | DFE              | CORP              | US        |         1 | NC      | $-22705.60    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| HSBC SECURITIES (USA) INC.                                   | NOK/USD FORWARD                                                       | CUSIP: 000000000<br>LEI: CYYGQCGNHMHPSMRL3R97 | N/A              | DFE              | CORP              | US        |         1 | NC      | $-29326.58    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| ICE FUTURES EUROPE                                           | LONG GILT                                                             | CUSIP: 000000000<br>LEI: 549300UF4R84F48NCH34 | N/A              | DIR              | CORP              | GB        |       -14 | NC      | $-56130.30    | -0.01%            |  |  |  | No            |                  1 | On Loan: No      |
| REPUBLIC OF GHANA                                            | Ghana Government International Bond                                   | CUSIP: 000000000<br>LEI: 213800PP4399SNNXZ126 | Long             | DBT              | NUSS              | GH        |   4125000 | PA      | $4026996.15   | 0.63%             | 2029-07-03      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| PENSKE TRUCK LEASING/PTL                                     | Penske Truck Leasing Co Lp / PTL Finance Corp                         | CUSIP: 709599CA0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    375000 | PA      | $386436.08    | 0.06%             | 2029-07-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| DOMINICAN REPUBLIC                                           | Dominican Republic International Bond                                 | CUSIP: 25714PFF0<br>LEI: 254900EHU7Q8FGVPI369 | Long             | DBT              | NUSS              | DO        |   1625000 | PA      | $1623700.00   | 0.25%             | 2035-10-28      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| B&M EUROPEAN VALUE RET                                       | B&M European Value Retail SA                                          | CUSIP: 000000000<br>LEI: 213800UK7ZRLY2K1X530 | Long             | DBT              | CORP              | LU        |    425000 | PA      | $549379.21    | 0.09%             | 2031-11-27      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| SAGAX AB                                                     | Sagax AB                                                              | CUSIP: 000000000<br>LEI: 549300LJX28T6OM8DT95 | Long             | DBT              | CORP              | SE        |   1800000 | PA      | $2168929.72   | 0.34%             | 2030-05-29      | Fixed         | 4.38%                 | No            |                  2 | On Loan: —       |
| Santander Drive Auto Receivabl                               | Santander Drive Auto Receivables Trust 2023-S1                        | CUSIP: 80286QAA7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    453380 | PA      | $453893.70    | 0.07%             | 2028-04-18      | Fixed         | 8.14%                 | No            |                  2 | On Loan: No      |
| Freddie Mac - STACR                                          | Freddie Mac STACR REMIC Trust 2023-DNA1                               | CUSIP: 35564KP37<br>LEI: 5493000IRILHAKSCHN59 | Long             | ABS-MBS          | CORP              | US        |   2553993 | PA      | $2592023.62   | 0.40%             | 2043-03-25      | Floating      | 6.29%                 | No            |                  2 | On Loan: No      |
| AMERICAN HOMES 4 RENT                                        | American Homes 4 Rent LP                                              | CUSIP: 02666TAK3<br>LEI: 549300N4PXZ37U8QKI55 | Long             | DBT              | CORP              | US        |    725000 | PA      | $738951.58    | 0.12%             | 2030-06-15      | Fixed         | 4.95%                 | No            |                  2 | On Loan: No      |
| MORGAN STANLEY & CO. LLC                                     | EUR/USD FORWARD                                                       | CUSIP: 000000000<br>LEI: 9R7GPTSO7KV3UQJZQ078 | N/A              | DFE              | CORP              | US        |         1 | NC      | $-230849.73   | -0.04%            |  |  |  | No            |                  2 | On Loan: No      |
| Cantor Commercial Real Estate                                | Cantor Commercial Real Estate Lending 2019-CF1                        | CUSIP: 12529MAG3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |  14857203 | PA      | $401611.00    | 0.06%             | 2052-05-15      | Variable      | 1.11%                 | No            |                  2 | On Loan: No      |
| MARRIOTT INTERNATIONAL                                       | Marriott International Inc/MD                                         | CUSIP: 571903BW2<br>LEI: 225YDZ14ZO8E1TXUSU86 | Long             | DBT              | CORP              | US        |    950000 | PA      | $947881.74    | 0.15%             | 2031-10-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Santander Bank Auto Credit-Lin                               | Santander Bank Auto Credit-Linked Notes Series 2022-C                 | CUSIP: 80290CBK9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1905588 | PA      | $1949992.44   | 0.30%             | 2032-12-15      | Fixed         | 14.59%                | No            |                  2 | On Loan: No      |
| Freddie Mac - STACR                                          | Freddie Mac STACR REMIC Trust 2024-HQA1                               | CUSIP: 35564NCA9<br>LEI: 529900PGKDI4ZEXFQ523 | Long             | ABS-MBS          | CORP              | US        |   3000000 | PA      | $3035355.60   | 0.47%             | 2044-03-25      | Floating      | 6.18%                 | No            |                  2 | On Loan: No      |
| HYUNDAI CAPITAL AMERICA                                      | Hyundai Capital America                                               | CUSIP: 44891AEA1<br>LEI: 549300RIPPWJB5Z0FK07 | Long             | DBT              | CORP              | US        |   1225000 | PA      | $1222844.40   | 0.19%             | 2030-09-18      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| BX Trust                                                     | BX Commercial Mortgage Trust 2025-BCAT                                | CUSIP: 12433HAG9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1365556 | PA      | $1375980.82   | 0.21%             | 2042-08-15      | Floating      | 6.68%                 | No            |                  2 | On Loan: No      |
| Verus Securitization Trust                                   | Verus Securitization Trust 2025-8                                     | CUSIP: 924930AC4<br>LEI: 213800K8E68XJS6Z1D09 | Long             | ABS-MBS          | CORP              | US        |   1973465 | PA      | $1971375.00   | 0.31%             | 2070-09-25      | Variable      | 4.87%                 | No            |                  2 | On Loan: No      |
| BANK OF AMERICA CORP                                         | Bank of America Corp                                                  | CUSIP: 06051GML0<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |    375000 | PA      | $387285.67    | 0.06%             | 2031-01-24      | Fixed         | 5.16%                 | No            |                  2 | On Loan: No      |
| Verus Securitization Trust                                   | Verus Securitization Trust 2024-9                                     | CUSIP: 92540RAC8<br>LEI: 213800LFRCPWSTP6LX39 | Long             | ABS-MBS          | CORP              | US        |   3038110 | PA      | $3056504.72   | 0.48%             | 2069-11-25      | Variable      | 5.44%                 | No            |                  2 | On Loan: No      |
| UNITED MEXICAN STATES                                        | Mexico Government International Bond                                  | CUSIP: 91087BBK5<br>LEI: 254900EGTWEU67VP6075 | Long             | DBT              | NUSS              | MX        |   1700000 | PA      | $1704590.00   | 0.27%             | 2033-03-22      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| HSBC SECURITIES (USA) INC.                                   | AUD/USD FORWARD                                                       | CUSIP: 000000000<br>LEI: CYYGQCGNHMHPSMRL3R97 | N/A              | DFE              | CORP              | US        |         1 | NC      | $3795.56      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Fannie Mae - CAS                                             | Connecticut Avenue Securities Trust 2022-R03                          | CUSIP: 20753XAJ3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    300000 | PA      | $332318.64    | 0.05%             | 2042-03-25      | Floating      | 14.03%                | No            |                  2 | On Loan: No      |
| UZBEKISTAN INTL BOND                                         | Republic of Uzbekistan International Bond                             | CUSIP: 000000000<br>LEI: 213800L6VDKUM3TCM927 | Long             | DBT              | NUSS              | UZ        |   1800000 | PA      | $1957133.57   | 0.31%             | 2032-05-25      | Fixed         | 6.95%                 | No            |                  2 | On Loan: No      |
| Carlyle Global Market Strategi                               | Carlyle Global Market Strategies CLO 2016-1 Ltd                       | CUSIP: 14312HBE5<br>LEI: 549300N3CJKPCWZ7KX23 | Long             | ABS-CBDO         | CORP              | KY        |   2300000 | PA      | $2301853.80   | 0.36%             | 2034-04-20      | Floating      | 4.97%                 | No            |                  2 | On Loan: No      |
| Freddie Mac - STACR                                          | Freddie Mac STACR REMIC Trust 2021-HQA3                               | CUSIP: 35564KKK4<br>LEI: 5493000ISHRHX47NOH65 | Long             | ABS-MBS          | CORP              | US        |   3900000 | PA      | $3966529.32   | 0.62%             | 2041-09-25      | Floating      | 7.53%                 | No            |                  2 | On Loan: No      |
| Freddie Mac - STACR                                          | Freddie Mac STACR REMIC Trust 2022-DNA5                               | CUSIP: 35564KYW3<br>LEI: 5493000IS349P4O9HR58 | Long             | ABS-MBS          | CORP              | US        |   1340000 | PA      | $1458989.86   | 0.23%             | 2042-06-25      | Floating      | 10.93%                | No            |                  2 | On Loan: No      |
| VB-S1 Issuer LLC                                             | VB-S1 Issuer LLC - VBTEL                                              | CUSIP: 91823ABA8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   2300000 | PA      | $2240104.32   | 0.35%             | 2052-02-15      | Fixed         | 5.27%                 | No            |                  2 | On Loan: No      |
| TPG Real Estate Finance                                      | TRTX 2025-FL7 issuer Ltd                                              | CUSIP: 87277LAE6<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   1775000 | PA      | $1781212.50   | 0.28%             | 2043-06-18      | Floating      | 5.98%                 | No            |                  2 | On Loan: No      |
| Santander Drive Auto Receivabl                               | Santander Drive Auto Receivables Trust 2023-S1                        | CUSIP: 80286QAB5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1306965 | PA      | $1306283.27   | 0.20%             | 2028-04-18      | Fixed         | 10.40%                | No            |                  2 | On Loan: No      |
| SANTANDER DRIVE AUTO RECEIVABLES TRUST 2024-S2               | SANTANDER DRIVE AUTO RECEIVABLES TRUST 2024-S2                        | CUSIP: 80287MAD9<br>LEI: N/A                  | Long             | EC               | CORP              | US        |        61 | NS      | $1153138.15   | 0.18%             |  |  |  | No            |                  2 | On Loan: No      |
| Flagship Credit Auto Trust 2021-4 Class R                    | Flagship Credit Auto Trust 2021-4 Class R                             | CUSIP: 33845A107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |       110 | NS      | $4766.58      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| EUREX CLEARING AKTIENGESELLSCHAFT                            | EURO-SCHATZ                                                           | CUSIP: 000000000<br>LEI: 529900LN3S50JPU47S06 | N/A              | DIR              | CORP              | DE        |       -72 | NC      | $-2133.95     | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| Aimco                                                        | AIMCO CLO Series 2018-B                                               | CUSIP: 00900PAQ8<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   1400000 | PA      | $1403047.80   | 0.22%             | 2037-04-16      | Floating      | 5.39%                 | No            |                  2 | On Loan: No      |
| MIDAS OPCO HOLDINGS LLC                                      | Stagwell Global LLC                                                   | CUSIP: 59565JAA9<br>LEI: 984500904E015Z0C1F82 | Long             | DBT              | CORP              | US        |   1900000 | PA      | $1812147.97   | 0.28%             | 2029-08-15      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| IVORY COAST                                                  | Ivory Coast Government International Bond                             | CUSIP: 000000000<br>LEI: 254900ICW11T82O6H590 | Long             | DBT              | NUSS              | CI        |    917000 | PA      | $931303.71    | 0.15%             | 2028-03-03      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| MEXICO CITY ARPT TRUST                                       | Mexico City Airport Trust                                             | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | CORP              | MX        |   1600000 | PA      | $1595192.00   | 0.25%             | 2026-10-31      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| Fannie Mae - CAS                                             | Connecticut Avenue Securities Trust 2021-R01                          | CUSIP: 20754RAB2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1363209 | PA      | $1367342.90   | 0.21%             | 2041-10-25      | Floating      | 5.73%                 | No            |                  2 | On Loan: No      |
| Onslow Bay Financial LLC                                     | OBX 2024-NQM15 Trust                                                  | CUSIP: 67449DAA7<br>LEI: 254900YXEB756F6RCA13 | Long             | ABS-MBS          | CORP              | US        |   1918799 | PA      | $1927893.01   | 0.30%             | 2064-10-25      | Variable      | 5.32%                 | No            |                  2 | On Loan: No      |
| BFLD Trust                                                   | BFLD Commercial Mortgage Trust 2025-660F                              | CUSIP: 05556QAE9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1425000 | PA      | $1431318.45   | 0.22%             | 2042-11-15      | Floating      | 6.17%                 | No            |                  2 | On Loan: No      |
| EOG RESOURCES INC                                            | EOG Resources Inc                                                     | CUSIP: 26875PAZ4<br>LEI: XWTZDRYZPBUHIQBKDB46 | Long             | DBT              | CORP              | US        |    500000 | PA      | $514947.24    | 0.08%             | 2036-01-15      | Fixed         | 5.35%                 | No            |                  2 | On Loan: No      |
| ALMAVIVA THE ITALIAN INN                                     | Almaviva-The Italian Innovation Co SpA                                | CUSIP: 000000000<br>LEI: 815600A862DA4DD9E211 | Long             | DBT              | CORP              | IT        |   1100000 | PA      | $1287046.39   | 0.20%             | 2030-10-30      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| KREF 2022-Fl3 Ltd                                            | KREF 2022-FL3 Ltd                                                     | CUSIP: 48275EAA4<br>LEI: 549300DG0FGL1EU1CT79 | Long             | ABS-CBDO         | CORP              | KY        |   1506726 | PA      | $1509001.44   | 0.24%             | 2039-02-17      | Floating      | 5.45%                 | No            |                  2 | On Loan: No      |
| BNP PARIBAS SECURITIES CORP.                                 | GBP/USD FORWARD                                                       | CUSIP: 000000000<br>LEI: RCNB6OTYUAMMP879YW96 | N/A              | DFE              | CORP              | US        |         1 | NC      | $132447.17    | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| DOMINICAN REPUBLIC                                           | Dominican Republic International Bond                                 | CUSIP: 000000000<br>LEI: 254900EHU7Q8FGVPI369 | Long             | DBT              | NUSS              | DO        |   1310000 | PA      | $1330698.00   | 0.21%             | 2027-01-25      | Fixed         | 5.95%                 | No            |                  2 | On Loan: No      |
| AMERICAN EXPRESS CO                                          | American Express Co                                                   | CUSIP: 025816DH9<br>LEI: R4PP93JZOLY261QX3811 | Long             | DBT              | CORP              | US        |    330000 | PA      | $340064.54    | 0.05%             | 2029-07-27      | Fixed         | 5.28%                 | No            |                  2 | On Loan: No      |
| Oak Hill European Credit Partn                               | OAK Hill European Credit Partners V Designated Activity Co            | CUSIP: 000000000<br>LEI: 635400RBBBEHFZ8TOH13 | Long             | ABS-CBDO         | CORP              | IE        |   2500000 | PA      | $2879800.93   | 0.45%             | 2035-01-21      | Floating      | 2.99%                 | No            |                  2 | On Loan: No      |
| VMWARE LLC                                                   | VMware LLC                                                            | CUSIP: 928563AK1<br>LEI: 549300BUDHS3LRWBE814 | Long             | DBT              | CORP              | US        |    495000 | PA      | $464982.58    | 0.07%             | 2028-08-15      | Fixed         | 1.80%                 | No            |                  2 | On Loan: No      |
| Arbor Realty Commercial Real E                               | Arbor Realty Commercial Real Estate Notes 2025-FL1 LLC                | CUSIP: 03881KAA1<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |   2000000 | PA      | $2002006.40   | 0.31%             | 2043-01-20      | Floating      | 5.39%                 | No            |                  2 | On Loan: No      |
| Freddie Mac - STACR                                          | Freddie Mac STACR REMIC Trust 2021-HQA3                               | CUSIP: 35564KKL2<br>LEI: 5493000ISHRHX47NOH65 | Long             | ABS-MBS          | CORP              | US        |   2050000 | PA      | $2126347.74   | 0.33%             | 2041-09-25      | Floating      | 10.43%                | No            |                  2 | On Loan: No      |
| Frost CMBS                                                   | Frost CMBS 2021-1 DAC                                                 | CUSIP: 000000000<br>LEI: 635400USRLUMX8CQN243 | Long             | ABS-MBS          | CORP              | IE        |   1242885 | PA      | $1625440.20   | 0.25%             | 2033-11-20      | Floating      | 6.89%                 | No            |                  2 | On Loan: No      |
| NOVO BANCO SA                                                | Novo Banco SA                                                         | CUSIP: 000000000<br>LEI: 5493009W2E2YDCXY6S81 | Long             | DBT              | CORP              | PT        |    900000 | PA      | $1053651.85   | 0.16%             | 2031-01-22      | Fixed         | 3.38%                 | No            |                  2 | On Loan: No      |
| BRAVO Residential Funding Trus                               | BRAVO Residential Funding Trust 2024-NQM7                             | CUSIP: 105698AE4<br>LEI: 254900T3YTF92WA96N66 | Long             | ABS-MBS          | CORP              | US        |   1703873 | PA      | $1716836.31   | 0.27%             | 2064-10-27      | Variable      | 6.06%                 | No            |                  2 | On Loan: No      |
| PETROLEOS MEXICANOS                                          | Petroleos Mexicanos                                                   | CUSIP: 000000000<br>LEI: 549300CAZKPF4HKMPX17 | Long             | DBT              | CORP              | MX        |    127000 | PA      | $144944.14    | 0.02%             | 2027-04-21      | Fixed         | 2.75%                 | No            |                  2 | On Loan: No      |
| BNP PARIBAS SECURITIES CORP.                                 | USD/BRL FORWARD                                                       | CUSIP: 000000000<br>LEI: RCNB6OTYUAMMP879YW96 | N/A              | DFE              | CORP              | US        |         1 | NC      | $43195.14     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| HCA INC                                                      | HCA Inc                                                               | CUSIP: 404119BW8<br>LEI: L3CJ6J7LJ2DX62FTXD46 | Long             | DBT              | CORP              | US        |    425000 | PA      | $442746.22    | 0.07%             | 2029-02-01      | Fixed         | 5.88%                 | No            |                  2 | On Loan: —       |
| STANDARD BUILDING SOLUTI                                     | Standard Building Solutions Inc                                       | CUSIP: 853191AC8<br>LEI: 54930064UHXCIUWVI755 | Long             | DBT              | CORP              | US        |   1375000 | PA      | $1403377.25   | 0.22%             | 2033-08-01      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| Henley CLO                                                   | Henley CLO III DAC                                                    | CUSIP: 000000000<br>LEI: 635400GBWJ33C3GSJK66 | Long             | ABS-CBDO         | CORP              | IE        |   2500000 | PA      | $2881613.47   | 0.45%             | 2035-12-25      | Floating      | 3.04%                 | No            |                  2 | On Loan: No      |
| IVORY COAST                                                  | Ivory Coast Government International Bond                             | CUSIP: 221625AV8<br>LEI: 254900ICW11T82O6H590 | Long             | DBT              | NUSS              | CI        |    300000 | PA      | $317153.72    | 0.05%             | 2036-04-01      | Fixed         | 8.07%                 | No            |                  2 | On Loan: No      |
| Transdigm                                                    | TRANSDIGM GROUP INC                                                   | CUSIP: 89364MCE2<br>LEI: 88Q84GB3X55CF5OC7582 | Long             | LON              | CORP              | US        |   1050000 | PA      | $1051543.50   | 0.16%             | 2032-08-13      | Floating      | 6.50%                 | No            |                  2 | On Loan: No      |
| Capital Automotive Reit                                      | CARS-DB4 LP                                                           | CUSIP: 12510HAH3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1000000 | PA      | $974925.60    | 0.15%             | 2050-02-15      | Fixed         | 4.52%                 | No            |                  2 | On Loan: No      |
| COSTA RICA GOVERNMENT                                        | Costa Rica Government International Bond                              | CUSIP: 000000000<br>LEI: 549300S1EK2VN6XVJP58 | Long             | DBT              | NUSS              | CR        |   1350000 | PA      | $1482975.00   | 0.23%             | 2045-03-12      | Fixed         | 7.16%                 | No            |                  2 | On Loan: No      |
| LoanCore Issuer, Ltd.                                        | LoanCore 2025-CRE9 Issuer LLC                                         | CUSIP: 538912AE6<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |   1175000 | PA      | $1179512.00   | 0.18%             | 2042-08-18      | Floating      | 6.01%                 | No            |                  2 | On Loan: No      |
| Madison Park Funding Ltd                                     | Madison Park Funding LVII Ltd                                         | CUSIP: 55822GAQ7<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   2700000 | PA      | $2702289.60   | 0.42%             | 2034-07-27      | Floating      | 5.14%                 | No            |                  2 | On Loan: No      |
| Allegro CLO Ltd                                              | Allegro CLO XII Ltd                                                   | CUSIP: 01750TAN6<br>LEI: 254900E0ZQX4DLP7HF87 | Long             | ABS-CBDO         | CORP              | KY        |   3250000 | PA      | $3258970.00   | 0.51%             | 2037-07-21      | Floating      | 5.31%                 | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2025-12-19

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

**Signature:** Sandi Brents

**Name of Signer:** Sandi Brents

**Title:** Compliance Officer