# EDGAR Filing Document

**Accession Number:** 0001141819
**File Stem:** 0001145549-23-004601
**Filing Date:** 2023-1
**Character Count:** 79990
**Document Hash:** ac77fda065f6864d9245e1ade1b83633
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001145549-23-004601.hdr.sgml**: 20230130

**ACCESSION NUMBER**: 0001145549-23-004601

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20221130

**FILED AS OF DATE**: 20230130

**DATE AS OF CHANGE**: 20230130

**PERIOD START**: 20230831

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** TRUST FOR PROFESSIONAL MANAGERS
- **CENTRAL INDEX KEY:** 0001141819
- **IRS NUMBER:** 000000000
- **STATE OF INCORPORATION:** DE

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-10401
- **FILM NUMBER:** 23567211

**BUSINESS ADDRESS:**
- **STREET 1:** U.S. BANCORP FUND SERVICES LLC
- **STREET 2:** 615 EAST MICHIGAN ST 2ND FLOOR
- **CITY:** MILWAUKEE
- **STATE:** WI
- **ZIP:** 53202
- **BUSINESS PHONE:** 4147655067

**MAIL ADDRESS:**
- **STREET 1:** U.S. BANCORP FUND SERVICES LLC
- **STREET 2:** 615 EAST MICHIGAN ST 2ND FLOOR
- **CITY:** MILWAUKEE
- **STATE:** WI
- **ZIP:** 53202

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** ZODIAC TRUST
- **DATE OF NAME CHANGE:** 20010601

## Series and Classes Contracts Data

### Performance Trust Credit Fund (Series ID: S000070558)

| Class ID   | Class Name                                          | Ticker Symbol   |
|:---|:---|:---|
| C000224122 | Performance Trust Credit Fund - Institutional Class | PTCRX           |

## Nport-Ex

---

| | | |
|:---|:---|:---|
| **Performance Trust Credit Fund** |  |  |
| **Schedule of Investments** |  |  |
| **November 30, 2022 (Unaudited)** |  |  |
|  | **Principal** |  |
|  | **Amount** | **Value** |
| **ASSET BACKED SECURITIES - 7.34%** |  |  |
| American Credit Acceptance Receivables Trust |  |  |
| &nbsp;&nbsp;&nbsp; 2022-3, 4.860%, 10/13/2028 (a) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000000 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;961648 |
| Exeter Automobile Receivables Trust |  |  |
| &nbsp;&nbsp;&nbsp; 2022-2A, 3.850%, 07/17/2028 | 1000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;948286 |
| &nbsp;&nbsp;&nbsp; 2022-4A, 4.920%, 12/15/2028 | 1000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;941553 |
| GLS Auto Receivables Issuer Trust |  |  |
| &nbsp;&nbsp;&nbsp; 2022-3A, 4.920%, 01/15/2027 (a) | 1000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;975323 |
| Santander Drive Auto Receivables Trust |  |  |
| &nbsp;&nbsp;&nbsp; 2022-5, 4.740%, 10/16/2028 | 1000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;952386 |
| &nbsp;&nbsp;&nbsp; 2022-7, 6.690%, 03/17/2031 | 1000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1007807 |
| TOTAL ASSET BACKED SECURITIES (Cost $5,955,445) |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5787003 |
| **COLLATERALIZED LOAN OBLIGATIONS - 15.88%** |  |  |
| Apidos CLO XI |  |  |
| &nbsp;&nbsp;&nbsp; 2012-11A, 7.829% (3 Month LIBOR USD + 3.750%), 04/17/2034 (a)(b)(c) | 500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;481106 |
| Apidos CLO XII |  |  |
| &nbsp;&nbsp;&nbsp; 2013-12A, 9.479% (3 Month LIBOR USD + 5.400%), 04/15/2031 (a)(b)(c) | 1000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;815445 |
| Apidos CLO XXXII |  |  |
| &nbsp;&nbsp;&nbsp; 2019-32A, 10.993% (3 Month LIBOR USD + 6.750%), 01/20/2033 (a)(b)(c) | 1000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;896646 |
| Ares XXXIX CLO Ltd. |  |  |
| &nbsp;&nbsp;&nbsp; 2016-39A, 7.544% (3 Month LIBOR USD + 3.350%), 04/18/2031 (a)(b)(c) | 1000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;891092 |
| Ares XXXVII CLO Ltd. |  |  |
| &nbsp;&nbsp;&nbsp; 2015-4A, 6.729% (3 Month LIBOR USD + 2.650%), 10/15/2030 (a)(b)(c) | 1000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;902972 |
| Burnham Park Clo Ltd. |  |  |
| &nbsp;&nbsp;&nbsp; 2016-1A, 7.093% (3 Month LIBOR USD + 2.850%), 10/20/2029 (a)(b)(c) | 1000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;917694 |
| Buttermilk Park CLO Ltd. |  |  |
| &nbsp;&nbsp;&nbsp; 2018-1A, 7.179% (3 Month LIBOR USD + 3.100%), 10/15/2031 (a)(b)(c) | 1000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;919318 |
| Cayuga Park CLO Ltd. |  |  |
| &nbsp;&nbsp;&nbsp; 2020-1A, 10.079% (3 Month LIBOR USD + 6.000%), 07/17/2034 (a)(b)(c) | 1250000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1088037 |
| Goldentree Loan Management US CLO 2 Ltd. |  |  |
| &nbsp;&nbsp;&nbsp; 2017-2A, 8.943% (3 Month LIBOR USD + 4.700%), 11/28/2030 (a)(b)(c) | 1000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;856600 |
| GoldentTree Loan Management US CLO 1 Ltd. |  |  |
| &nbsp;&nbsp;&nbsp; 2021-9A, 7.143% (3 Month LIBOR USD + 2.900%), 01/20/2033 (a)(b)(c) | 500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;437675 |
| LCM Loan Income Fund I Income Note Issuer Ltd. |  |  |
| &nbsp;&nbsp;&nbsp; 27A, 9.679% (3 Month LIBOR USD + 5.600%), 07/16/2031 (a)(b)(c) | 500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;358948 |
| LCM XVIII LP |  |  |
| &nbsp;&nbsp;&nbsp; 18A, 10.193% (3 Month LIBOR USD + 5.950%), 04/20/2031 (a)(b)(c) | 650000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;474178 |
| LCM XXII Ltd. |  |  |
| &nbsp;&nbsp;&nbsp; 22A, 7.043% (3 Month LIBOR USD + 2.800%), 10/20/2028 (a)(b)(c) | 895000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;764666 |
| Magnetite XV Ltd. |  |  |
| &nbsp;&nbsp;&nbsp; 2015-15A, 9.558% (3 Month LIBOR USD + 5.200%), 07/25/2031 (a)(b)(c) | 1000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;877620 |
| Neuberger Berman Loan Advisers CLO 33 Ltd. |  |  |
| &nbsp;&nbsp;&nbsp; 2019-33A, 6.979% (3 Month LIBOR USD + 2.900%), 10/16/2033 (a)(b)(c) | 1000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;922883 |
| Neuberger Berman Loan Advisers CLO 35 Ltd. |  |  |
| &nbsp;&nbsp;&nbsp; 2019-35A, 11.227% (3 Month LIBOR USD + 7.000%), 01/19/2033 (a)(b)(c) | 1000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;905242 |
| TOTAL COLLATERALIZED LOAN OBLIGATIONS (Cost $13,081,906) |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12510122 |
| **CORPORATE BONDS - 31.46%** |  |  |
| **Diversified Financial Services - 0.25%** |  |  |
| Compeer Financial FLCA |  |  |
| &nbsp;&nbsp;&nbsp; 3.375% to 06/01/2031 then SOFR + 1.965%, 06/01/2036 (a)(b) | 250000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;193109 |
| **Banks - 9.22%** |  |  |
| Banner Corp. |  |  |
| &nbsp;&nbsp;&nbsp; 5.000% to 6/30/2025 then TSFR3M + 4.890%, 06/30/2030 (b) | 1000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;947670 |
| Barclays PLC |  |  |
| &nbsp;&nbsp;&nbsp; 6.125% (5 Year CMT Rate + 5.867%), 09/15/2166 (b)(c)(d) | 250000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;225288 |
| First Foundation, Inc. |  |  |
| &nbsp;&nbsp;&nbsp; 3.500% to 02/01/2027 then SOFR + 2.040%, 02/01/2032 (b) | 500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;432143 |
| First-Citizens Bank & Trust Co. |  |  |
| &nbsp;&nbsp;&nbsp; 6.125%, 03/09/2028 | 1000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1025424 |
| HomeStreet, Inc. |  |  |
| &nbsp;&nbsp;&nbsp; 3.500% to 01/30/2027 then SOFR + 2.150%, 01/30/2032 (b) | 500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;432019 |
| National Australia Bank Ltd. |  |  |
| &nbsp;&nbsp;&nbsp; 3.347% (5 Year CMT Rate + 1.700%), 01/12/2037 (a)(b)(c) | 1000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;755473 |
| Renasant Corp. |  |  |
| &nbsp;&nbsp;&nbsp; 3.000% to 12/01/2026 then SOFR + 1.910%, 12/01/2031 (b) | 750000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;632495 |
| Synovus Financial Corp. |  |  |
| &nbsp;&nbsp;&nbsp; 5.900% (5 Year Swap Rate USD + 3.379%), 02/07/2029 (b) | 1000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;977800 |
| Texas Capital Bancshares, Inc. |  |  |
| &nbsp;&nbsp;&nbsp; 4.000% (5 Year CMT Rate + 3.150%), 05/06/2031 (b) | 1000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;872389 |
| Western Alliance Bank |  |  |
| &nbsp;&nbsp;&nbsp; 5.250% to 06/01/2025 then SOFR + 5.120%, 06/01/2030 (b) | 1000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;966806 |
| **Building Products - 1.54%** |  |  |
| Masonite International Corp. |  |  |
| &nbsp;&nbsp;&nbsp; 3.500%, 02/15/2030 (a)(c) | 250000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;194478 |
| TopBuild Corp. |  |  |
| &nbsp;&nbsp;&nbsp; 3.625%, 03/15/2029 (a) | 1250000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1016326 |
| **Capital Markets - 1.02%** |  |  |
| Ares Capital Corp. |  |  |
| &nbsp;&nbsp;&nbsp; 3.200%, 11/15/2031 | 1080000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;802575 |
| **Chemicals - 0.52%** |  |  |
| Axalta Coating Systems, LLC |  |  |
| &nbsp;&nbsp;&nbsp; 3.375%, 02/15/2029 (a) | 500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;408545 |
| **Consumer Finance - 1.06%** |  |  |
| OneMain Finance Corp. |  |  |
| &nbsp;&nbsp;&nbsp; 5.375%, 11/15/2029 | 1000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;836550 |
| **Electronic Equipment, Instruments & Components - 1.07%** |  |  |
| CDW Finance Corp. |  |  |
| &nbsp;&nbsp;&nbsp; 3.276%, 12/01/2028 | 1000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;842320 |
| **Equity Real Estate Investment Trusts (REITs) - 0.48%** |  |  |
| American Finance Trust, Inc. |  |  |
| &nbsp;&nbsp;&nbsp; 4.500%, 09/30/2028 (a) | 500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;381688 |
| **Healthcare Providers & Services - 0.52%** |  |  |
| Centene Corp. |  |  |
| &nbsp;&nbsp;&nbsp; 3.000%, 10/15/2030 | 500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;409195 |
| **Hotels, Restaurants & Leisure - 1.06%** |  |  |
| Papa John's International, Inc. |  |  |
| &nbsp;&nbsp;&nbsp; 3.875%, 09/15/2029 (a) | 1000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;837236 |
| **Household Durables - 3.44%** |  |  |
| KB Home |  |  |
| &nbsp;&nbsp;&nbsp; 4.800%, 11/15/2029 | 1000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;857218 |
| M/I Homes, Inc. |  |  |
| &nbsp;&nbsp;&nbsp; 3.950%, 02/15/2030 | 1300000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;998534 |
| Meritage Homes Corp. |  |  |
| &nbsp;&nbsp;&nbsp; 3.875%, 04/15/2029 (a) | 1000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;849270 |
| **Information Technology - 1.46%** |  |  |
| Dell International LLC / EMC Corp. |  |  |
| &nbsp;&nbsp;&nbsp; 8.100%, 07/15/2036 | 1000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1149102 |
| **Machinery - 1.06%** |  |  |
| Allison Transmission, Inc. |  |  |
| &nbsp;&nbsp;&nbsp; 3.750%, 01/30/2031 (a) | 1000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;834923 |
| **Media - 1.60%** |  |  |
| CCO Holdings Capital Corp. |  |  |
| &nbsp;&nbsp;&nbsp; 4.750%, 02/01/2032 (a) | 1500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1256243 |
| **Road & Rail - 1.38%** |  |  |
| ERAC USA Finance, LLC |  |  |
| &nbsp;&nbsp;&nbsp; 7.000%, 10/15/2037 (a) | 1000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1085615 |
| **Software - 1.64%** |  |  |
| Open Text Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp; 4.125%, 12/01/2031 (a) | 625000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;484356 |
| Oracle Corp. |  |  |
| &nbsp;&nbsp;&nbsp; 3.850%, 07/15/2036 | 1000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;812778 |
| **Specialty Retail - 3.06%** |  |  |
| Asbury Automotive Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp; 5.000%, 02/15/2032 (a) | 600000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;506227 |
| AutoNation, Inc. |  |  |
| &nbsp;&nbsp;&nbsp; 3.850%, 03/01/2032 | 250000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;205224 |
| Group 1 Automotive, Inc. |  |  |
| &nbsp;&nbsp;&nbsp; 4.000%, 08/15/2028 (a) | 1000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;849461 |
| Lithia Motors, Inc. |  |  |
| &nbsp;&nbsp;&nbsp; 4.375%, 01/15/2031 (a) | 1000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;847000 |
| **Wireless Telecommunication Services - 1.08%** |  |  |
| T-Mobile USA, Inc. |  |  |
| &nbsp;&nbsp;&nbsp; 2.625%, 02/15/2029 | 1000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;852884 |
| TOTAL CORPORATE BONDS (Cost $26,795,443) |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 24778364 |
| **NON-AGENCY RESIDENTIAL MORTGAGE BACKED SECURITIES - 6.58%** |  |  |
| Alternative Loan Trust |  |  |
| &nbsp;&nbsp;&nbsp; 2004-24CB, 6.000%, 11/25/2034 | 1430515 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1389591 |
| &nbsp;&nbsp;&nbsp; 2006-J5, 6.500%, 09/25/2036 | 244788 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;139021 |
| &nbsp;&nbsp;&nbsp; 2006-31CB, 6.000%, 11/25/2036 | 212880 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;128748 |
| CHL Mortgage Pass-Through Trust |  |  |
| &nbsp;&nbsp;&nbsp; 2006-17, 6.000% (1 Month LIBOR USD + 0.550%), 12/25/2036 (b) | 351998 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;158985 |
| &nbsp;&nbsp;&nbsp; 2007-HY5, 4.029%, 09/25/2037 (e) | 230964 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;204822 |
| Citicorp Mortgage Securities Trust |  |  |
| &nbsp;&nbsp;&nbsp; 2006-3, 6.000%, 06/25/2036 | 240418 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;207790 |
| Credit Suisse First Boston Mortgage Securities Corp. |  |  |
| &nbsp;&nbsp;&nbsp; 2005-11, 5.500%, 12/25/2035 | 355648 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;174304 |
| First Horizon Alternative Mortgage Securities Trust |  |  |
| &nbsp;&nbsp;&nbsp; 2005-FA11, 5.750%, 02/25/2036 | 245299 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;122053 |
| Freddie Mac STACR REMIC Trust |  |  |
| &nbsp;&nbsp;&nbsp; 2021-DNA5, 6.571% (SOFR30A + 3.050%), 01/25/2034 (a)(b) | 1000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;891309 |
| Volt, LLC |  |  |
| &nbsp;&nbsp;&nbsp; 2021-NPL4, 4.949%, 03/27/2051 (a)(f) | 350000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;299283 |
| WaMu Mortgage Pass-Through Certificates Series Trust |  |  |
| &nbsp;&nbsp;&nbsp; 2006-AR12, 3.805%, 10/25/2036 (e) | 1655892 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1472462 |
| TOTAL NON-AGENCY RESIDENTIAL MORTGAGE BACKED SECURITIES (Cost $5,798,372) |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5188368 |
| **NON-AGENCY COMMERCIAL MORTGAGE BACKED SECURITIES - 16.76%** |  |  |
| BANK |  |  |
| &nbsp;&nbsp;&nbsp; 2020-BNK29, 2.500%, 11/15/2053 (a) | 850000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;535374 |
| &nbsp;&nbsp;&nbsp; 2022-BNK40, 2.500%, 03/15/2064 (a) | 500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;297023 |
| &nbsp;&nbsp;&nbsp; 2021-BNK35, 2.902%, 06/15/2064 (e) | 1000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;711500 |
| BBCMS Mortgage Trust |  |  |
| &nbsp;&nbsp;&nbsp; 2021-C11, 1.083%, 09/15/2054 (e)(g) | 4500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;296181 |
| &nbsp;&nbsp;&nbsp; 2021-C12, 2.500%, 11/15/2054 (a) | 750000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;443935 |
| &nbsp;&nbsp;&nbsp; 2022-C17, 1.326%, 09/15/2055 (e)(g) | 14994891 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1230882 |
| Benchmark Mortgage Trust |  |  |
| &nbsp;&nbsp;&nbsp; 2021-B23, 1.379%, 02/15/2054 (e)(g) | 14903521 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1023185 |
| &nbsp;&nbsp;&nbsp; 2021-B26, 1.481%, 06/15/2054 (a)(e)(g) | 2300000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;199646 |
| &nbsp;&nbsp;&nbsp; 2021-B27, 1.383%, 07/15/2054 (e)(g) | 3234054 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;230686 |
| &nbsp;&nbsp;&nbsp; 2021-B29, 1.417%, 09/15/2054 (a)(e)(g) | 3000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;246670 |
| &nbsp;&nbsp;&nbsp; 2021-B30, 1.410%, 11/15/2054 (a)(e)(g) | 4600000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;380730 |
| BMO Mortgage Trust |  |  |
| &nbsp;&nbsp;&nbsp; 2022-C1, 1.892%, 02/15/2055 (a)(e)(g) | 5000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;581934 |
| Citigroup Commercial Mortgage Trust |  |  |
| &nbsp;&nbsp;&nbsp; 2016-C1, 5.107%, 05/10/2049 (e) | 1000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;893909 |
| Freddie Mac Multifamily Structured Credit Risk |  |  |
| &nbsp;&nbsp;&nbsp; 2021-MN3, 7.521% (SOFR30A + 4.000%), 11/25/2051 (a)(b) | 1000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;888136 |
| GS Mortgage Securities Corp. II |  |  |
| &nbsp;&nbsp;&nbsp; 2012-BWTR, 3.255%, 11/05/2034 (a)(h) | 478000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;406096 |
| GS Mortgage Securities Trust |  |  |
| &nbsp;&nbsp;&nbsp; 2019-GC42, 2.800%, 09/01/2052 (a) | 450000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;302435 |
| Morgan Stanley Bank of America Merrill Lynch Trust |  |  |
| &nbsp;&nbsp;&nbsp; 2017-C34, 2.700%, 11/15/2052 (a) | 1000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;663037 |
| Morgan Stanley Capital I Trust |  |  |
| &nbsp;&nbsp;&nbsp; 2017-H1, 4.281%, 06/15/2050 (e) | 1000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;861831 |
| &nbsp;&nbsp;&nbsp; 2019-H7, 3.000%, 07/15/2052 (a) | 1000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;701059 |
| Wells Fargo Commercial Mortgage Trust |  |  |
| &nbsp;&nbsp;&nbsp; 2015-C28, 4.219%, 05/15/2048 (e) | 1000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;857845 |
| &nbsp;&nbsp;&nbsp; 2016-C37, 3.337%, 12/15/2049 (a)(e) | 1000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;759823 |
| &nbsp;&nbsp;&nbsp; 2019-C52, 1.256%, 08/15/2052 (e)(g) | 7000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;409109 |
| &nbsp;&nbsp;&nbsp; 2021-C59, 1.582%, 04/15/2054 (a)(e)(g) | 3250000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;286395 |
| TOTAL NON-AGENCY COMMERCIAL MORTGAGE BACKED SECURITIES (Cost $15,194,657) |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 13207421 |
| **AGENCY COMMERCIAL MORTGAGE BACKED SECURITIES - 5.26%** |  |  |
| Freddie Mac Multifamily Structured Pass Through Certificates |  |  |
| &nbsp;&nbsp;&nbsp; K072, 0.494%, 12/25/2027 (e)(g) | 72318176 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1130246 |
| &nbsp;&nbsp;&nbsp; K098, 1.517%, 08/25/2029 (e)(g) | 6000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;460828 |
| &nbsp;&nbsp;&nbsp; K118, 1.052%, 09/25/2030 (e)(g) | 17923952 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1020203 |
| &nbsp;&nbsp;&nbsp; K130, 1.144%, 06/25/2031 (e)(g) | 14984444 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1010937 |
| &nbsp;&nbsp;&nbsp; K141, 0.407%, 02/25/2032 (e)(g) | 22198291 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;525176 |
| TOTAL AGENCY COMMERCIAL MORTGAGE BACKED SECURITIES (Cost $4,437,459) |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4147390 |
| **MUNICIPAL BONDS - 8.65%** |  |  |
| **California - 2.48%** |  |  |
| City of Santa Ana, CA |  |  |
| &nbsp;&nbsp;&nbsp; 1.869%, 08/01/2029 | 500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;406359 |
| East Side Union High School District |  |  |
| &nbsp;&nbsp;&nbsp; 5.320%, 04/01/2036 | 240000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;234272 |
| Golden State Tobacco Securitization Corp. |  |  |
| &nbsp;&nbsp;&nbsp; 3.000%, 06/01/2046 | 685000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;632803 |
| Newport Mesa Unified School District |  |  |
| &nbsp;&nbsp;&nbsp; 6.300%, 08/01/2042 | 200000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;243715 |
| Peralta Community College District |  |  |
| &nbsp;&nbsp;&nbsp; 0.000%, 08/05/2031 (i) | 500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;434042 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1951191 |
| **Florida - 0.56%** |  |  |
| Florida Development Finance Corp. |  |  |
| &nbsp;&nbsp;&nbsp; 7.375%, 01/01/2049 (a) | 500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;442994 |
| **Illinois - 0.66%** |  |  |
| Metropolitan Pier & Exposition Authority |  |  |
| &nbsp;&nbsp;&nbsp; 0.000%, 12/15/2036 (i) | 1000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;520128 |
| **New York - 0.79%** |  |  |
| New York Liberty Development Corp. |  |  |
| &nbsp;&nbsp;&nbsp; 2.250%, 02/15/2041 | 900000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;623898 |
| **Pennsylvania - 0.99%** |  |  |
| Pennsylvania Turnpike Commission |  |  |
| &nbsp;&nbsp;&nbsp; 3.000%, 12/01/2042 | 1000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;783521 |
| **Puerto Rico - 0.82%** |  |  |
| GDB Debt Recovery Authority of Puerto Rico |  |  |
| &nbsp;&nbsp;&nbsp; 7.500%, 08/20/2040 | 767063 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;642415 |
| **Tennessee - 0.79%** |  |  |
| New Memphis Arena Public Building Authority |  |  |
| &nbsp;&nbsp;&nbsp; 0.000%, 04/01/2043 (i) | 1625000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;619152 |
| **Texas - 1.25%** |  |  |
| Clifton Higher Education Finance Corp. |  |  |
| &nbsp;&nbsp;&nbsp; 6.125%, 08/15/2048 | 165000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;167624 |
| Port of Beaumont Industrial Development Authority |  |  |
| &nbsp;&nbsp;&nbsp; 4.100%, 01/01/2028 (a) | 1000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;817619 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;985243 |
| **Wisconsin - 0.31%** |  |  |
| Public Finance Authority |  |  |
| &nbsp;&nbsp;&nbsp; 7.500%, 06/01/2029 (a) | 250000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;246672 |
| TOTAL MUNICIPAL BONDS (Cost $7,108,001) |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6815214 |
| **US GOVERNMENT NOTES/BONDS - 2.65%** |  |  |
| United States Treasury Notes/Bonds |  |  |
| &nbsp;&nbsp;&nbsp; 3.375%, 08/15/2042 | 1200000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1092187 |
| &nbsp;&nbsp;&nbsp; 4.000%, 11/15/2042 | 1000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;999063 |
| TOTAL US GOVERNMENT NOTES/BONDS (Cost $2,025,991) |  | 2091250 |
| **SHORT-TERM INVESTMENTS - 3.21%** |  |  |
| First American Government Obligations Fund - Class X, 3.660% (j) | 2527697 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2527697 |
| TOTAL SHORT-TERM INVESTMENTS (Cost $2,527,697) |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2527697 |
| **Total Investments (Cost $82,924,971) - 97.79%** |  | **&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 77052829** |
| **Other Assets in Excess of Liabilities - 2.21%** |  | **&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1740575** |
| **TOTAL NET ASSETS - 100.00%** |  | $**&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;78793404** |

---

Percentages are stated as a percent of net assets.<br>

---

| | |
|:---|:---|
| (a) | Securities issued pursuant to Rule 144A under the Securities Act of 1933. |
| (b) | Variable rate security; the rate shown represents the rate at November 30, 2022. |
| (c) | Foreign issued security. |
| (d) | Perpetual maturity. The date referenced is the next call date. |
| (e) | Variable rate security; the rate shown represents the rate at November 30, 2022. The coupon is based on an underlying pool of loans. |
| (f) | Step-up bond; the rate shown represents the rate at November 30, 2022. |
| (g) | Represents an interest-only security that entitles holders to receive only interest payments on underlying mortgages. |
| (h) | Represents an illiquid security. The total market value of these securities were $406,096, representing 0.52% of net assets as of November 30, 2022. |
| (i) | Represents a principal-only security that entitles holders to receive only principal payments on underlying mortgages. |
| (j) | Seven day yield at November 30, 2022. |
| &nbsp;&nbsp;&nbsp;&nbsp; Abbreviations: |  |
| CMT | Constant Maturity Treasury Rate |
| LIBOR | London Interbank Offered Rate |
| PLC | Public Limited Company. |
| SOFR | Secured Overnight Financing Rate |
| TSFR3M | 3 Month Term Secured Overnight Financing Rate |

---

---

| |
|:---|
| The Schedule of Investments incorporates the Global Industry Classification Standard (GICS<sup>®</sup>). GICS was developed |
| by and/or is the exclusive property of MSCI, Inc. and Standard & Poor's Financial Services LLC ("S&P"). GICS is a |
| service mark of MSCI and S&P and has been licensed for use by U.S. Bancorp Fund Services, LLC. |

---

------

---

| |
|:---|
| **Summary of Fair Value Exposure at November 30, 2022** |
| Various inputs are used in determining the value of the Fund's investments. These inputs are |
| summarized in the three broad levels listed below: |
| Level 1 - Quoted prices in active markets for identical securities. |
| Level 2 - Other significant observable inputs (including quoted prices for similar |
| &nbsp;&nbsp;&nbsp;&nbsp;securities, interest rates, prepayment speeds, credit risk, etc.) |
| Level 3 - Significant unobservable inputs (including the Fund's own assumptions in |
| &nbsp;&nbsp;&nbsp;&nbsp;determining the fair value of investments.) |
| The inputs or methodology used for valuing securities are not an indication of the risk associated |
| with investing in those securities. |
| The following is a summary of the inputs used, as of November 30, 2022, in valuing the Fund's investments |
| carried at fair value: |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| ***Performance Trust Credit Fund*** | | | | |
|  | Level 1 | Level 2 | Level 3 | Total |
| **Fixed Income:** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Asset Backed Securities | $- | $5787003 | $- | $5787003 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Collateralized Loan Obligations | - | 12510122 | - | 12510122 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Corporate Bonds | - | 24778364 | - | 24778364 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Non-Agency Residential Mortgage Backed Securities | - | 5188368 | - | 5188368 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Non-Agency Commercial Mortgage Backed Securities | - | 13207421 | - | 13207421 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Agency Commercial Mortgage Backed Securities | - | 4147390 | - | 4147390 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Municipal Bonds | - | 6815214 | - | 6815214 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; US Government Notes/Bonds | - | 2091250 | - | 2091250 |
| **Total Fixed Income** | - | 74525132 | - | 74525132 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Short-Term Investments** | 2527697 | - | - | 2527697 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Investments In Securities** | $2527697 | $74525132 | $- | $77052829 |

---

For the period ended November 30, 2022, the Fund did not have significant unobservable inputs (Level 3 securities) used in determining fair value. <br> Therefore, a reconciliation of assets in which significant unobservable inputs (Level 3) were used in determining fair value is not applicable.

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** Trust for Professional Managers

- **b. Investment Company Act file number:** 811-10401

- **c. CIK number of Registrant:** 0001141819

- **d. LEI of Registrant:** 549300O1N816L3GGRD45

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

  - **Street Address 1:** 615 East Michigan Street

  - **City:** Milwaukee

  - **State:** WI

  - **Foreign country:** US

  - **Zip / Postal Code:** 53202

  - **Telephone number:** 513-629-8104

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

- **a. Name of Series:** Performance Trust Credit Fund

- **b. EDGAR series identifier (if any):** S000070558

- **c. LEI of Series:** 5493001Q668CLFUNJ327

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

- **a. Date of fiscal year-end:** 2023-08-31

- **b. Date as of which information is reported:** 2022-11-30

**Item A.4. Final filing**

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

### Fund Information

**Total Assets:** $77929291.57

**Total Liabilities:** $54071.14

**Net Assets:** $77875220.43

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** 2803.690000000000 | **1-Year:** 1642.180000000000 | **5-Year:** 6318.660000000000 | **10-Year:** 9808.370000000000 | **30-Year:** 1356.620000000000

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

- **3-Month:** 4759.120000000000 | **1-Year:** 3616.660000000000 | **5-Year:** 4832.440000000000 | **10-Year:** 1593.720000000000 | **30-Year:** 236.460000000000

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000224122 | -4.07%               | 0.01%                | 2.96%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-899600.64              | $-2682865.41                               |
| Month 2  | $-231547.22              | $-48893.01                                 |
| Month 3  | $-54199.65               | $1916352.65                                |

**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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| ALLISON TRANSMISSION INC       | Allison Transmission Inc                                              | CUSIP: 019736AG2<br>LEI: MWKQ3I0U1GXP2YDSZW75 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $834923.00    | 1.07%             | 2031-01-30      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| Countrywide Alternative Loan T | Alternative Loan Trust 2006-31CB                                      | CUSIP: 02148HAK7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    212880 | PA      | $128747.99    | 0.17%             | 2036-11-25      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| American Credit Acceptance Rec | American Credit Acceptance Receivables Trust 2022-3                   | CUSIP: 02528GAE3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1000000 | PA      | $961648.20    | 1.23%             | 2028-10-13      | Fixed         | 4.86%                 | No            |                  2 | On Loan: No      |
| NECESS RETAIL/AFIN OP LP       | Necessity Retail REIT Inc/The / American Finance Operating Partner LP | CUSIP: 02608AAA7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    500000 | PA      | $381687.50    | 0.49%             | 2028-09-30      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Apidos CLO                     | Apidos CLO XI                                                         | CUSIP: 03763YBS4<br>LEI: 549300XIP4V1NMCICV93 | Long             | ABS-CBDO         | CORP              | KY        |    500000 | PA      | $481106.00    | 0.62%             | 2034-04-17      | Floating      | 7.83%                 | No            |                  2 | On Loan: No      |
| Apidos CLO                     | Apidos CLO XII                                                        | CUSIP: 03764FAD8<br>LEI: 549300M5NMLBQJXUO195 | Long             | ABS-CBDO         | CORP              | KY        |   1000000 | PA      | $815445.00    | 1.05%             | 2031-04-15      | Floating      | 9.48%                 | No            |                  2 | On Loan: No      |
| BENCHMARK Mortgage Trust       | Benchmark 2021-B23 Mortgage Trust                                     | CUSIP: 08162RAF4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |  14903521 | PA      | $1023184.81   | 1.31%             | 2054-02-15      | Variable      | 1.38%                 | No            |                  2 | On Loan: No      |
| BENCHMARK Mortgage Trust       | Benchmark 2021-B26 Mortgage Trust                                     | CUSIP: 08163EAX3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   2300000 | PA      | $199646.44    | 0.26%             | 2054-06-15      | Variable      | 1.48%                 | No            |                  2 | On Loan: No      |
| BENCHMARK Mortgage Trust       | Benchmark 2021-B27 Mortgage Trust                                     | CUSIP: 08163HAG3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   3234054 | PA      | $230686.38    | 0.30%             | 2054-07-15      | Variable      | 1.38%                 | No            |                  2 | On Loan: No      |
| BENCHMARK Mortgage Trust       | Benchmark 2021-B29 Mortgage Trust                                     | CUSIP: 08163JAM6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   3000000 | PA      | $246669.60    | 0.32%             | 2054-09-15      | Variable      | 1.42%                 | No            |                  2 | On Loan: No      |
| BENCHMARK Mortgage Trust       | Benchmark 2021-B30 Mortgage Trust                                     | CUSIP: 08163KAC5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   4600000 | PA      | $380730.04    | 0.49%             | 2054-11-15      | Variable      | 1.41%                 | No            |                  2 | On Loan: No      |
| Apidos CLO                     | Apidos CLO XXXII                                                      | CUSIP: 03768QAQ1<br>LEI: 549300CXPXW83QGWOL98 | Long             | ABS-CBDO         | CORP              | KY        |   1000000 | PA      | $896646.00    | 1.15%             | 2033-01-20      | Floating      | 10.99%                | No            |                  2 | On Loan: No      |
| ARES CAPITAL CORP              | Ares Capital Corp                                                     | CUSIP: 04010LBC6<br>LEI: WEQ82666OJYSI5GUAB47 | Long             | DBT              | CORP              | US        |   1080000 | PA      | $802575.45    | 1.03%             | 2031-11-15      | Fixed         | 3.20%                 | No            |                  2 | On Loan: No      |
| ARES CLO Ltd                   | Ares XXXVII CLO Ltd                                                   | CUSIP: 04015NAL8<br>LEI: 635400YF4AHA6NB2CU53 | Long             | ABS-CBDO         | CORP              | KY        |   1000000 | PA      | $902972.00    | 1.16%             | 2030-10-15      | Floating      | 6.73%                 | No            |                  2 | On Loan: No      |
| ARES CLO Ltd                   | Ares XXXIX CLO Ltd                                                    | CUSIP: 04015WBJ2<br>LEI: 5493005YAOTYJUJV3S58 | Long             | ABS-CBDO         | CORP              | KY        |   1000000 | PA      | $891092.00    | 1.14%             | 2031-04-18      | Floating      | 7.54%                 | No            |                  2 | On Loan: No      |
| ASBURY AUTOMOTIVE GROUP        | Asbury Automotive Group Inc                                           | CUSIP: 043436AX2<br>LEI: 549300JH4DTA7U42GL91 | Long             | DBT              | CORP              | US        |    600000 | PA      | $506227.13    | 0.65%             | 2032-02-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| AUTONATION INC                 | AutoNation Inc                                                        | CUSIP: 05329RAA1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    250000 | PA      | $205224.45    | 0.26%             | 2032-03-01      | Fixed         | 3.85%                 | No            |                  2 | On Loan: No      |
| AXALTA COATING SYSTEMS         | Axalta Coating Systems LLC                                            | CUSIP: 05453GAC9<br>LEI: 549300G80QONCHILSF69 | Long             | DBT              | CORP              | US        |    500000 | PA      | $408545.00    | 0.52%             | 2029-02-15      | Fixed         | 3.38%                 | No            |                  2 | On Loan: No      |
| Barclays Commercial Mortgage S | BBCMS Mortgage Trust 2021-C11                                         | CUSIP: 05493MAH7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   4500000 | PA      | $296180.55    | 0.38%             | 2054-09-15      | Variable      | 1.08%                 | No            |                  2 | On Loan: No      |
| Barclays Commercial Mortgage S | BBCMS Mortgage Trust 2022-C17                                         | CUSIP: 054976AG0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |  14994891 | PA      | $1230881.12   | 1.58%             | 2055-09-15      | Variable      | 1.33%                 | No            |                  2 | On Loan: No      |
| Barclays Commercial Mortgage S | BBCMS Mortgage Trust 2021-C12                                         | CUSIP: 05552XAG3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    750000 | PA      | $443934.90    | 0.57%             | 2054-11-15      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| BMO 2022-C1 Mortgage Trust     | BMO 2022-C1 Mortgage Trust                                            | CUSIP: 05609MAY1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   5000000 | PA      | $581934.00    | 0.75%             | 2055-02-15      | Variable      | 1.89%                 | No            |                  2 | On Loan: No      |
| BANK 2021-BN35                 | BANK 2021-BNK35                                                       | CUSIP: 06540CBX4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1000000 | PA      | $711500.30    | 0.91%             | 2064-06-15      | Variable      | 2.90%                 | No            |                  2 | On Loan: No      |
| Bank                           | BANK 2022-BNK40                                                       | CUSIP: 06541LAJ5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    500000 | PA      | $297023.10    | 0.38%             | 2064-03-15      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| Bank                           | BANK 2020-BNK29                                                       | CUSIP: 06541TAJ8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    850000 | PA      | $535374.20    | 0.69%             | 2053-11-15      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| BANNER CORP                    | Banner Corp                                                           | CUSIP: 06652VAA7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1000000 | PA      | $947669.73    | 1.22%             | 2030-06-30      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| BARCLAYS PLC                   | Barclays PLC                                                          | CUSIP: 06738EBN4<br>LEI: 213800LBQA1Y9L22JB70 | Long             | DBT              | CORP              | GB        |    250000 | PA      | $225287.50    | 0.29%             | 2025-12-15      | Variable      | 6.12%                 | No            |                  2 | On Loan: No      |
| Burnham Park CLO Ltd.          | Burnham Park Clo Ltd                                                  | CUSIP: 12232KAN0<br>LEI: 549300BOEG5O4MSO7220 | Long             | ABS-CBDO         | CORP              | KY        |   1000000 | PA      | $917694.00    | 1.18%             | 2029-10-20      | Floating      | 7.09%                 | No            |                  2 | On Loan: No      |
| Buttermilk Park CLO Ltd        | Buttermilk Park CLO Ltd                                               | CUSIP: 124166AL3<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   1000000 | PA      | $919318.00    | 1.18%             | 2031-10-15      | Floating      | 7.18%                 | No            |                  2 | On Loan: No      |
| CCO HLDGS LLC/CAP CORP         | CCO Holdings LLC / CCO Holdings Capital Corp                          | CUSIP: 1248EPCQ4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1500000 | PA      | $1256242.50   | 1.61%             | 2032-02-01      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| CDW LLC/CDW FINANCE            | CDW LLC / CDW Finance Corp                                            | CUSIP: 12513GBH1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1000000 | PA      | $842320.00    | 1.08%             | 2028-12-01      | Fixed         | 3.28%                 | No            |                  2 | On Loan: No      |
| Countrywide Home Loans         | CHL Mortgage Pass-Through Trust 2007-HY5                              | CUSIP: 12544BAE3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    230964 | PA      | $204822.29    | 0.26%             | 2037-09-25      | Variable      | 4.03%                 | No            |                  2 | On Loan: No      |
| FIRST-CITIZENS BANK/TRST       | First-Citizens Bank & Trust Co                                        | CUSIP: 125581GX0<br>LEI: L9VVX1KT5TFTKS0MLF66 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $1025424.72   | 1.32%             | 2028-03-09      | Fixed         | 6.12%                 | No            |                  2 | On Loan: No      |
| Countrywide Alternative Loan T | Alternative Loan Trust 2004-24CB                                      | CUSIP: 12667FVN2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1430515 | PA      | $1389591.42   | 1.78%             | 2034-11-25      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Countrywide Alternative Loan T | Alternative Loan Trust 2006-J5                                        | CUSIP: 12668EAE7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    244788 | PA      | $139020.78    | 0.18%             | 2036-09-25      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Cayuga Park CLO, Ltd.          | Cayuga Park CLO Ltd                                                   | CUSIP: 149790AJ6<br>LEI: 549300SVH2QJEV4A2G21 | Long             | ABS-CBDO         | CORP              | KY        |   1250000 | PA      | $1088037.50   | 1.40%             | 2034-07-17      | Floating      | 10.08%                | No            |                  2 | On Loan: No      |
| CENTENE CORP                   | Centene Corp                                                          | CUSIP: 15135BAW1<br>LEI: 549300Z7JJ4TQSQGT333 | Long             | DBT              | CORP              | US        |    500000 | PA      | $409195.00    | 0.53%             | 2030-10-15      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Countrywide Home Loans         | CHL Mortgage Pass-Through Trust 2006-17                               | CUSIP: 17025AAH5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    351998 | PA      | $158985.19    | 0.20%             | 2036-12-25      | Floating      | 6.00%                 | No            |                  2 | On Loan: No      |
| Citigroup Commercial Mortgage  | Citigroup Commercial Mortgage Trust 2016-C1                           | CUSIP: 17290YAV0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1000000 | PA      | $893908.70    | 1.15%             | 2049-05-10      | Variable      | 5.11%                 | No            |                  2 | On Loan: No      |
| Citicorp Mortgage Securities,  | Citicorp Mortgage Securities Trust Series 2006-3                      | CUSIP: 17310BAD6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    240418 | PA      | $207789.54    | 0.27%             | 2036-06-25      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| CLIFTON TX HGR EDU FIN CORP ED | Clifton Higher Education Finance Corp                                 | CUSIP: 187145JT5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    165000 | PA      | $167623.57    | 0.22%             | 2048-08-15      | Fixed         | 6.12%                 | No            |                  2 | On Loan: No      |
| COMPEER FIN FLCA / PCA         | Compeer Financial FLCA/Compeer Financial PCA                          | CUSIP: 20454PAC7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    250000 | PA      | $193108.94    | 0.25%             | 2036-06-01      | Variable      | 3.38%                 | No            |                  2 | On Loan: No      |
| Credit Suisse First Boston Mor | Credit Suisse First Boston Mortgage Securities Corp                   | CUSIP: 2254W0NJ0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    355648 | PA      | $174303.73    | 0.22%             | 2035-12-25      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| DELL INT LLC / EMC CORP        | Dell International LLC / EMC Corp                                     | CUSIP: 24703TAJ5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1000000 | PA      | $1149102.03   | 1.48%             | 2036-07-15      | Fixed         | 8.10%                 | No            |                  2 | On Loan: No      |
| ERAC USA FINANCE LLC           | ERAC USA Finance LLC                                                  | CUSIP: 26882PBE1<br>LEI: LTKX5ODQW6Z7BQ2K1V47 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $1085615.00   | 1.39%             | 2037-10-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| EAST SIDE CA UNION HIGH SCH DI | East Side Union High School District                                  | CUSIP: 2752816H1<br>LEI: 549300FHNKBG2V8ZLG85 | Long             | DBT              | MUN               | US        |    240000 | PA      | $234271.61    | 0.30%             | 2036-04-01      | Fixed         | 5.32%                 | No            |                  2 | On Loan: No      |
| Exeter Automobile Receivables  | Exeter Automobile Receivables Trust 2022-4                            | CUSIP: 30166BAE2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1000000 | PA      | $941553.40    | 1.21%             | 2028-12-15      | Fixed         | 4.92%                 | No            |                  2 | On Loan: No      |
| Wells Fargo Commercial Mortgag | Wells Fargo Commercial Mortgage Trust 2021-C59                        | CUSIP: 95003CBA7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   3250000 | PA      | $286394.88    | 0.37%             | 2054-04-15      | Variable      | 1.58%                 | No            |                  2 | On Loan: No      |
| WESTERN ALLIANCE BANK          | Western Alliance Bank                                                 | CUSIP: 95763PEF4<br>LEI: SI7YQSVPFZBSQ878IC17 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $966805.61    | 1.24%             | 2030-06-01      | Variable      | 5.25%                 | No            |                  2 | On Loan: No      |
| Exeter Automobile Receivables  | Exeter Automobile Receivables Trust 2022-2                            | CUSIP: 30166QAE9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1000000 | PA      | $948285.50    | 1.22%             | 2028-07-17      | Fixed         | 3.85%                 | No            |                  2 | On Loan: No      |
| FHLMC Multifamily Structured P | Freddie Mac Multifamily Structured Pass Through Certificates          | CUSIP: 3137F62P1<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |  17923952 | PA      | $1020202.67   | 1.31%             | 2030-09-25      | Variable      | 1.05%                 | No            |                  2 | On Loan: No      |
| FHLMC Multifamily Structured P | Freddie Mac Multifamily Structured Pass Through Certificates          | CUSIP: 3137FEBS8<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |  72318176 | PA      | $1130246.31   | 1.45%             | 2027-12-25      | Variable      | 0.49%                 | No            |                  2 | On Loan: No      |
| FHLMC Multifamily Structured P | Freddie Mac Multifamily Structured Pass Through Certificates          | CUSIP: 3137FPHP3<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   6000000 | PA      | $460827.60    | 0.59%             | 2029-08-25      | Variable      | 1.52%                 | No            |                  2 | On Loan: No      |
| FHLMC Multifamily Structured P | Freddie Mac Multifamily Structured Pass Through Certificates          | CUSIP: 3137H1YX8<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |  14984444 | PA      | $1010937.49   | 1.30%             | 2031-06-25      | Variable      | 1.14%                 | No            |                  2 | On Loan: No      |
| FHLMC Multifamily Structured P | Freddie Mac Multifamily Structured Pass Through Certificates          | CUSIP: 3137H6ZT5<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |  22198291 | PA      | $525176.04    | 0.67%             | 2032-02-25      | Variable      | 0.41%                 | No            |                  2 | On Loan: No      |
| First American Government Obli | First American Government Obligations Fund                            | CUSIP: 31846V336<br>LEI: 549300R5MYM6VZF1RM44 | Long             | STIV             | RF                | US        |   2527697 | NS      | $2527697.35   | 3.25%             |  |  |  | No            |                  1 | On Loan: No      |
| FIRST FOUNDATION INC           | First Foundation Inc                                                  | CUSIP: 32026VAA2<br>LEI: 254900TQZQ6LBCK77E82 | Long             | DBT              | CORP              | US        |    500000 | PA      | $432143.24    | 0.55%             | 2032-02-01      | Variable      | 3.50%                 | No            |                  2 | On Loan: No      |
| First Horizon Alternative Mort | First Horizon Alternative Mortgage Securities Trust 2005-FA11         | CUSIP: 32051GL52<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    247871 | PA      | $123332.53    | 0.16%             | 2036-02-25      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| FLORIDA DEV FIN CORP SURFACE T | Florida Development Finance Corp                                      | CUSIP: 34061YAH3<br>LEI: 549300HC854CNBLMWC48 | Long             | DBT              | MUN               | US        |    500000 | PA      | $442994.40    | 0.57%             | 2049-01-01      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| Multifamily Structured Credit  | Freddie Mac Multifamily Structured Credit Risk                        | CUSIP: 35563GAB5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1000000 | PA      | $888136.10    | 1.14%             | 2051-11-25      | Floating      | 7.52%                 | No            |                  2 | On Loan: No      |
| Freddie Mac - STACR            | Freddie Mac STACR REMIC Trust 2021-DNA5                               | CUSIP: 35564KJA8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1000000 | PA      | $891308.90    | 1.14%             | 2034-01-25      | Floating      | 6.57%                 | No            |                  2 | On Loan: No      |
| GS Mortgage Securities Trust   | GS Mortgage Securities Corp II                                        | CUSIP: 36192RAG7<br>LEI: 5493005BBCF84ICNQ550 | Long             | ABS-MBS          | CORP              | US        |    478000 | PA      | $406095.89    | 0.52%             | 2034-11-05      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| GS Mortgage Securities Trust   | GS Mortgage Securities Trust 2019-GC42                                | CUSIP: 36257UAA5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    450000 | PA      | $302435.28    | 0.39%             | 2052-09-01      | Fixed         | 2.80%                 | No            |                  2 | On Loan: No      |
| GDB DEBT RECOVERY AUTH OF CMWL | GDB Debt Recovery Authority of Puerto Rico                            | CUSIP: 36829QAA3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    767063 | PA      | $642415.17    | 0.82%             | 2040-08-20      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| GLS Auto Receivables Trust     | GLS Auto Receivables Issuer Trust 2022-3                              | CUSIP: 38014QAC0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1000000 | PA      | $975323.30    | 1.25%             | 2027-01-15      | Fixed         | 4.92%                 | No            |                  2 | On Loan: No      |
| GOLDEN ST TOBACCO SECURITIZATI | Golden State Tobacco Securitization Corp                              | CUSIP: 38122NB76<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    685000 | PA      | $632802.59    | 0.81%             | 2046-06-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| GoldenTree Loan Management US  | Goldentree Loan Management US Clo 2 Ltd                               | CUSIP: 38136PAA9<br>LEI: 549300UYD6YMBA6XSE43 | Long             | ABS-CBDO         | CORP              | KY        |   1000000 | PA      | $856600.00    | 1.10%             | 2030-11-28      | Floating      | 8.94%                 | No            |                  2 | On Loan: No      |
| GoldenTree Loan Management US  | GoldentTree Loan Management US CLO 1 Ltd                              | CUSIP: 38138JAJ2<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    500000 | PA      | $437675.00    | 0.56%             | 2033-01-20      | Floating      | 7.14%                 | No            |                  2 | On Loan: No      |
| GROUP 1 AUTOMOTIVE INC         | Group 1 Automotive Inc                                                | CUSIP: 398905AN9<br>LEI: 549300US8QAZJLWYAF63 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $849460.85    | 1.09%             | 2028-08-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| HOMESTREET INC                 | HomeStreet Inc                                                        | CUSIP: 43785VAE2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    500000 | PA      | $432018.59    | 0.55%             | 2032-01-30      | Variable      | 3.50%                 | No            |                  2 | On Loan: No      |
| KB HOME                        | KB Home                                                               | CUSIP: 48666KAY5<br>LEI: 549300LGUCWQURMWLG09 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $857218.26    | 1.10%             | 2029-11-15      | Fixed         | 4.80%                 | No            |                  2 | On Loan: No      |
| LCM Ltd Partnership            | LCM XVIII LP                                                          | CUSIP: 50188HAC5<br>LEI: 549300PYL1KC7BYM8G75 | Long             | ABS-CBDO         | CORP              | KY        |    650000 | PA      | $474177.60    | 0.61%             | 2031-04-20      | Floating      | 10.19%                | No            |                  2 | On Loan: No      |
| LCM Ltd Partnership            | LCM XXII Ltd                                                          | CUSIP: 50189GAJ1<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    895000 | PA      | $764665.63    | 0.98%             | 2028-10-20      | Floating      | 7.04%                 | No            |                  2 | On Loan: No      |
| LCM Ltd Partnership            | LCM Loan Income Fund I Income Note Issuer Ltd                         | CUSIP: 50200LAA4<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    500000 | PA      | $358948.00    | 0.46%             | 2031-07-16      | Floating      | 9.68%                 | No            |                  2 | On Loan: No      |
| LITHIA MOTORS INC              | Lithia Motors Inc                                                     | CUSIP: 536797AF0<br>LEI: SE8N1EZEHPZQBCBVKD53 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $847000.00    | 1.09%             | 2031-01-15      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| M/I HOMES INC                  | M/I Homes Inc                                                         | CUSIP: 55305BAV3<br>LEI: 5299005M71FH9CCSFB69 | Long             | DBT              | CORP              | US        |   1300000 | PA      | $998535.10    | 1.28%             | 2030-02-15      | Fixed         | 3.95%                 | No            |                  2 | On Loan: No      |
| Magnetite CLO Ltd              | Magnetite XV Ltd                                                      | CUSIP: 55953NAE0<br>LEI: 549300B3V0K3DX0M2K31 | Long             | ABS-CBDO         | CORP              | KY        |   1000000 | PA      | $877620.00    | 1.13%             | 2031-07-25      | Floating      | 9.56%                 | No            |                  2 | On Loan: No      |
| MASONITE INTERNATIONAL C       | Masonite International Corp                                           | CUSIP: 575385AE9<br>LEI: 549300H0H07ZFT4JYM32 | Long             | DBT              | CORP              | CA        |    250000 | PA      | $194478.13    | 0.25%             | 2030-02-15      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| MERITAGE HOMES CORP            | Meritage Homes Corp                                                   | CUSIP: 59001ABD3<br>LEI: 52990044W9UMFJO2FB97 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $849270.00    | 1.09%             | 2029-04-15      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| MET PIER & EXPOSITION AUTH IL  | Metropolitan Pier & Exposition Authority                              | CUSIP: 592247K90<br>LEI: 254900I3VDCQ58UGBR15 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $520128.20    | 0.67%             | 2036-12-15      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| Morgan Stanley Capital I Trust | Morgan Stanley Capital I Trust 2017-H1                                | CUSIP: 61691JBA1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1000000 | PA      | $861830.70    | 1.11%             | 2050-06-15      | Variable      | 4.28%                 | No            |                  2 | On Loan: No      |
| Morgan Stanley BAML Trust      | Morgan Stanley Bank of America Merrill Lynch Trust 2017-C34           | CUSIP: 61767EAU8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1000000 | PA      | $663036.60    | 0.85%             | 2052-11-15      | Fixed         | 2.70%                 | No            |                  2 | On Loan: No      |
| Morgan Stanley Capital I Trust | Morgan Stanley Capital I Trust 2019-H7                                | CUSIP: 61771MAC4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1000000 | PA      | $701059.00    | 0.90%             | 2052-07-15      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| NATIONAL AUSTRALIA BANK        | National Australia Bank Ltd                                           | CUSIP: 632525BB6<br>LEI: F8SB4JFBSYQFRQEH3Z21 | Long             | DBT              | CORP              | AU        |   1000000 | PA      | $755473.39    | 0.97%             | 2037-01-12      | Variable      | 3.35%                 | No            |                  2 | On Loan: No      |
| Neuberger Berman CLO Ltd       | Neuberger Berman Loan Advisers CLO 33 Ltd                             | CUSIP: 64132TAQ6<br>LEI: 549300RVE5T2OYI2H743 | Long             | ABS-CBDO         | CORP              | KY        |   1000000 | PA      | $922883.00    | 1.19%             | 2033-10-16      | Floating      | 6.98%                 | No            |                  2 | On Loan: No      |
| Neuberger Berman CLO Ltd       | Neuberger Berman Loan Advisers CLO 35 Ltd                             | CUSIP: 64133DAA5<br>LEI: 549300MYVO80EQUJK294 | Long             | ABS-CBDO         | CORP              | KY        |   1000000 | PA      | $905242.00    | 1.16%             | 2033-01-19      | Floating      | 11.23%                | No            |                  2 | On Loan: No      |
| NEW MEMPHIS ARENA PUBLIC BLDG  | New Memphis Arena Public Building Authority                           | CUSIP: 64704CAM0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1625000 | PA      | $619152.14    | 0.80%             | 2043-04-01      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK ST LIBERTY DEV CORP L | New York Liberty Development Corp                                     | CUSIP: 649519EK7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    900000 | PA      | $623897.91    | 0.80%             | 2041-02-15      | Fixed         | 2.25%                 | No            |                  2 | On Loan: No      |
| NEWPORT MESA CA UNIF SCH DIST  | Newport Mesa Unified School District                                  | CUSIP: 652113WS6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    200000 | PA      | $243715.16    | 0.31%             | 2042-08-01      | Fixed         | 6.30%                 | No            |                  2 | On Loan: No      |
| OPEN TEXT HOLDINGS INC         | Open Text Holdings Inc                                                | CUSIP: 683720AC0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    625000 | PA      | $484356.25    | 0.62%             | 2031-12-01      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| ORACLE CORP                    | Oracle Corp                                                           | CUSIP: 68389XBH7<br>LEI: 1Z4GXXU7ZHVWFCD8TV52 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $812777.97    | 1.04%             | 2036-07-15      | Fixed         | 3.85%                 | No            |                  2 | On Loan: No      |
| PAPA JOHN'S INTERNATIONA       | Papa John's International Inc                                         | CUSIP: 698813AA0<br>LEI: HZYLD3DK5XOX0WBVNB56 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $837235.55    | 1.08%             | 2029-09-15      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| PENNSYLVANIA ST TURNPIKE COMMI | Pennsylvania Turnpike Commission                                      | CUSIP: 709225AY2<br>LEI: 549300J8LLBYEYEXZJ24 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $783521.00    | 1.01%             | 2042-12-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| PERALTA CA CMNTY CLG DIST LTD  | Peralta Community College District                                    | CUSIP: 713580AJ7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $434041.60    | 0.56%             | 2031-08-05      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| PORT BEAUMONT TX INDL DEV AUTH | Port of Beaumont Industrial Development Authority                     | CUSIP: 73358SAA1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $817619.40    | 1.05%             | 2028-01-01      | Fixed         | 4.10%                 | No            |                  2 | On Loan: No      |
| PUBLIC FIN AUTH WI REVENUE     | Public Finance Authority                                              | CUSIP: 74442PXM2<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |    250000 | PA      | $246672.03    | 0.32%             | 2029-06-01      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| RENASANT CORP                  | Renasant Corp                                                         | CUSIP: 75970EAE7<br>LEI: 549300OVE6OZHW2UUH81 | Long             | DBT              | CORP              | US        |    750000 | PA      | $632494.76    | 0.81%             | 2031-12-01      | Variable      | 3.00%                 | No            |                  2 | On Loan: No      |
| SANTA ANA CA PENSN OBLIGS      | City of Santa Ana CA                                                  | CUSIP: 801139AH9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $406359.25    | 0.52%             | 2029-08-01      | Fixed         | 1.87%                 | No            |                  2 | On Loan: No      |
| Santander Drive Auto Receivabl | Santander Drive Auto Receivables Trust 2022-7                         | CUSIP: 80287FAE2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1000000 | PA      | $1007806.90   | 1.29%             | 2031-03-17      | Fixed         | 6.69%                 | No            |                  2 | On Loan: No      |
| Santander Drive Auto Receivabl | Santander Drive Auto Receivables Trust 2022-5                         | CUSIP: 80287HAE8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1000000 | PA      | $952385.60    | 1.22%             | 2028-10-16      | Fixed         | 4.74%                 | No            |                  2 | On Loan: No      |
| ONEMAIN FINANCE CORP           | OneMain Finance Corp                                                  | CUSIP: 85172FAR0<br>LEI: 5493008I795YYBFWFU90 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $836550.00    | 1.07%             | 2029-11-15      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| SYNOVUS FINANCIAL CORP         | Synovus Financial Corp                                                | CUSIP: 87161CAM7<br>LEI: 549300EIUS8UN5JTLE54 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $977800.84    | 1.26%             | 2029-02-07      | Variable      | 5.90%                 | No            |                  2 | On Loan: No      |
| T-MOBILE USA INC               | T-Mobile USA Inc                                                      | CUSIP: 87264ABS3<br>LEI: 549300V2JRLO5DIFGE82 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $852883.76    | 1.10%             | 2029-02-15      | Fixed         | 2.62%                 | No            |                  2 | On Loan: No      |
| TEXAS CAPITAL BANCSHARES       | Texas Capital Bancshares Inc                                          | CUSIP: 88224QAA5<br>LEI: 549300466Q2SXRX0YM48 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $872388.65    | 1.12%             | 2031-05-06      | Variable      | 4.00%                 | No            |                  2 | On Loan: No      |
| TOPBUILD CORP                  | TopBuild Corp                                                         | CUSIP: 89055FAB9<br>LEI: 5493007YSKHOL4RWII46 | Long             | DBT              | CORP              | US        |   1250000 | PA      | $1016325.69   | 1.31%             | 2029-03-15      | Fixed         | 3.62%                 | No            |                  2 | On Loan: No      |
| US TREASURY N/B                | United States Treasury Note/Bond                                      | CUSIP: 912810TK4<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   1200000 | PA      | $1092187.50   | 1.40%             | 2042-08-15      | Fixed         | 3.38%                 | No            |                  2 | On Loan: No      |
| US TREASURY N/B                | United States Treasury Note/Bond                                      | CUSIP: 912810TM0<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   1000000 | PA      | $999062.50    | 1.28%             | 2042-11-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Vericrest Opportunity Loan Tra | VOLT XCV LLC                                                          | CUSIP: 92873BAB2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    350000 | PA      | $299282.76    | 0.38%             | 2051-03-27      | Variable      | 4.95%                 | No            |                  2 | On Loan: No      |
| WAMU Mortgage Pass-Through Cer | WaMu Mortgage Pass-Through Certificates Series 2006-AR12 Trust        | CUSIP: 93363NAA3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1655892 | PA      | $1472462.27   | 1.89%             | 2036-10-25      | Variable      | 3.81%                 | No            |                  2 | On Loan: No      |
| Wells Fargo Commercial Mortgag | Wells Fargo Commercial Mortgage Trust 2015-C28                        | CUSIP: 94989JBH8<br>LEI: 549300S7ENI2U7O0XH56 | Long             | ABS-MBS          | CORP              | US        |   1000000 | PA      | $857845.90    | 1.10%             | 2048-05-15      | Variable      | 4.22%                 | No            |                  2 | On Loan: No      |
| Wells Fargo Commercial Mortgag | Wells Fargo Commercial Mortgage Trust 2016-C37                        | CUSIP: 95000PAX2<br>LEI: 549300TRQQDPEF728F16 | Long             | ABS-MBS          | CORP              | US        |   1000000 | PA      | $759822.80    | 0.98%             | 2049-12-15      | Variable      | 3.34%                 | No            |                  2 | On Loan: No      |
| Wells Fargo Commercial Mortgag | Wells Fargo Commercial Mortgage Trust 2019-C52                        | CUSIP: 95002MAZ2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   7000000 | PA      | $409109.40    | 0.53%             | 2052-08-15      | Variable      | 1.26%                 | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2023-01-30

**Name of Applicant:** Trust for Professional Managers

**Signature:** /s/ John Buckel

**Name of Signer:** John Buckel

**Title:** President