# EDGAR Filing Document

**Accession Number:** 0001307144
**File Stem:** 0001752724-23-075154
**Filing Date:** 2023-3
**Character Count:** 257597
**Document Hash:** 8cdaccdda55c8d2249eea66bc9ba1d72
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001752724-23-075154.hdr.sgml**: 20230331

**ACCESSION NUMBER**: 0001752724-23-075154

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20230131

**FILED AS OF DATE**: 20230331

**DATE AS OF CHANGE**: 20230331

**PERIOD START**: 20231031

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Cohen & Steers Alternative Income Fund, Inc.
- **CENTRAL INDEX KEY:** 0001307144
- **IRS NUMBER:** 201990800
- **STATE OF INCORPORATION:** MD
- **FISCAL YEAR END:** 0228

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-21668
- **FILM NUMBER:** 23784301

**BUSINESS ADDRESS:**
- **STREET 1:** 280 PARK AVENUE
- **STREET 2:** 10TH FLOOR
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10017
- **BUSINESS PHONE:** 212-832-3232

**MAIL ADDRESS:**
- **STREET 1:** 280 PARK AVENUE
- **STREET 2:** 10TH FLOOR
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10017

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Cohen & Steers Dividend Value Fund, Inc.
- **DATE OF NAME CHANGE:** 20050808

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Cohen & Steers Equity Income Fund, Inc.
- **DATE OF NAME CHANGE:** 20050630

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Cohen & Steers Dividend Strategy Fund, Inc.
- **DATE OF NAME CHANGE:** 20041103

## Series and Classes Contracts Data

### Cohen & Steers Alternative Income Fund, Inc. (Series ID: S000001230)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000003344 | Class A      | DVFAX           |
| C000003345 | Class C      | DVFCX           |
| C000003346 | Class I      | DVFIX           |
| C000146549 | Class R      | DVFRX           |
| C000146550 | Class Z      | DVFZX           |

## Nport-Ex

**COHEN & STEERS ALTERNATIVE INCOME FUND, INC.** 

SCHEDULE OF INVESTMENTS

January 31, 2023 (Unaudited)

---

| | | | |
|:---|:---|:---|:---|
|  | | **Shares** | **Value** |
|  CLOSED-END FUNDS | 1.1% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; MASTER LIMITED PARTNERSHIPS | 0.6% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Kayne Anderson Energy Infrastructure Fund |  | 48910 | $444103 |
| &nbsp;&nbsp;&nbsp;&nbsp; U.S. GENERAL EQUITY | 0.5% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Adams Diversified Equity Fund, Inc. |  | 23010 | 358035 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; TOTAL CLOSED-END FUNDS<br>(Identified cost—$858,998) |  |  | 802138 |
|  COMMON STOCK | 49.1% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; AIRPORTS—FOREIGN | 1.3% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Aena SME SA, 144A (Spain)(a),(b) |  | 2606 | 391549 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Airports of Thailand PCL (Thailand)(b) |  | 45400 | 102382 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Auckland International Airport Ltd. (New Zealand)(b) |  | 19704 | 108442 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Grupo Aeroportuario del Pacifico SAB de CV, Class B (Mexico) |  | 5774 | 99449 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Grupo Aeroportuario del Sureste SAB de CV, Class B (Mexico) |  | 8419 | 228121 |
|  |  |  | 929943 |
| &nbsp;&nbsp;&nbsp;&nbsp; COMMUNICATIONS | 5.2% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; SATELLITES—FOREIGN | 0.4% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; SES SA (Luxembourg) |  | 41742 | 323923 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; TOWERS | 3.6% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; American Tower Corp. |  | 5004 | 1117843 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Crown Castle, Inc. |  | 4916 | 728109 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; SBA Communications Corp. |  | 2677 | 796488 |
|  |  |  | 2642440 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; TOWERS—FOREIGN | 1.2% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Cellnex Telecom SA, 144A (Spain)(a) |  | 22310 | 874284 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; TOTAL COMMUNICATIONS |  |  | 3840647 |
| &nbsp;&nbsp;&nbsp;&nbsp; CONSUMER STAPLES—FOREIGN | 0.3% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Salmar ASA (Norway) |  | 5525 | 256911 |
| &nbsp;&nbsp;&nbsp;&nbsp; CONSUMER—NON-CYCLICAL—AGRICULTURE | 0.5% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Bunge Ltd. |  | 3892 | 385697 |
| &nbsp;&nbsp;&nbsp;&nbsp; ELECTRIC | 1.1% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; CenterPoint Energy, Inc. |  | 15166 | 456800 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Evergy, Inc. |  | 3170 | 198600 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Eversource Energy |  | 1857 | 152887 |
|  |  |  | 808287 |

---

------

---

| | | | |
|:---|:---|:---|:---|
|  | | **Shares** | **Value** |
| &nbsp;&nbsp;&nbsp;&nbsp; ELECTRIC—FOREIGN | 1.9% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Hydro One Ltd., 144A (Canada)(a) |  | 9320 | $254828 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; National Grid PLC (United Kingdom) |  | 86431 | 1098788 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Power Assets Holdings Ltd. (Hong Kong) |  | 14000 | 79215 |
|  |  |  | 1432831 |
| &nbsp;&nbsp;&nbsp;&nbsp; ENERGY | 1.2% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; GAS—DISTRIBUTION—FOREIGN | 0.5% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ENN Energy Holdings Ltd., (H shares) (China) |  | 25300 | 381188 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; OIL & GAS—FOREIGN | 0.7% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Suncor Energy, Inc. (Canada) |  | 13750 | 477227 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; TOTAL ENERGY |  |  | 858415 |
| &nbsp;&nbsp;&nbsp;&nbsp; INFRASTRUCTURE—FOREIGN | 0.5% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Atlas Arteria Ltd. (Australia)(c) |  | 71084 | 345712 |
| &nbsp;&nbsp;&nbsp;&nbsp; MARINE PORTS—FOREIGN | 0.4% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; International Container Terminal Services, Inc. (Philippines) |  | 17760 | 67516 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Santos Brasil Participacoes SA (Brazil) |  | 119836 | 207977 |
|  |  |  | 275493 |
| &nbsp;&nbsp;&nbsp;&nbsp; MATERIALS—METALS & MINING—FOREIGN | 2.2% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Agnico Eagle Mines Ltd. (Canada) |  | 9333 | 527061 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; BHP Group Ltd. (Australia) |  | 30621 | 1072413 |
|  |  |  | 1599474 |
| &nbsp;&nbsp;&nbsp;&nbsp; PIPELINES | 3.0% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Cheniere Energy, Inc. |  | 4186 | 639579 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; DT Midstream, Inc. |  | 5157 | 281882 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Equitrans Midstream Corp. |  | 10818 | 78430 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ONEOK, Inc. |  | 9767 | 668844 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Targa Resources Corp. |  | 6005 | 450495 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Williams Cos., Inc./The |  | 3307 | 106618 |
|  |  |  | 2225848 |
| &nbsp;&nbsp;&nbsp;&nbsp; PIPELINES—FOREIGN | 4.4% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Enbridge, Inc. (Canada) |  | 25630 | 1049433 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gibson Energy, Inc. (Canada) |  | 11927 | 213611 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pembina Pipeline Corp. (Canada) |  | 22294 | 791026 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; TC Energy Corp. (Canada) |  | 25746 | 1109329 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Tidewater Renewables Ltd. (Canada)(b) |  | 10437 | 88482 |
|  |  |  | 3251881 |

---

------

---

| | | | |
|:---|:---|:---|:---|
|  | | **Shares** | **Value** |
| &nbsp;&nbsp;&nbsp;&nbsp; RAILWAYS | 0.3% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; CSX Corp. |  | 7852 | $242784 |
| &nbsp;&nbsp;&nbsp;&nbsp; RAILWAYS—FOREIGN | 0.8% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Canadian Pacific Railway Ltd. (Canada) |  | 1585 | 125104 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Qube Holdings Ltd. (Australia) |  | 135263 | 294126 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; West Japan Railway Co. (Japan) |  | 3800 | 159138 |
|  |  |  | 578368 |
| &nbsp;&nbsp;&nbsp;&nbsp; REAL ESTATE | 17.4% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; DATA CENTERS | 1.6% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Digital Realty Trust, Inc. |  | 9284 | 1064132 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Equinix, Inc. |  | 169 | 124744 |
|  |  |  | 1188876 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; DATA CENTERS—FOREIGN | 0.1% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Digital Core REIT Management Pte. Ltd. (Singapore) |  | 84868 | 53640 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; DIVERSIFIED—FOREIGN | 2.3% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; British Land Co., PLC/The (United Kingdom) |  | 14592 | 79860 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Capitaland Investment Ltd. (Singapore) |  | 35800 | 108460 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Charter Hall Group (Australia) |  | 14950 | 147206 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; CK Asset Holdings Ltd. (Hong Kong) |  | 12500 | 79919 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Covivio (France) |  | 692 | 47502 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Hang Lung Properties Ltd. (Hong Kong) |  | 53000 | 99934 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ICADE (France) |  | 1623 | 77093 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Ingenia Communities Group (Australia) |  | 28246 | 93022 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Merlin Properties Socimi SA (Spain) |  | 9111 | 89039 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Mitsubishi Estate Co., Ltd. (Japan) |  | 7700 | 98969 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Mitsui Fudosan Co., Ltd. (Japan) |  | 11600 | 217426 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sumitomo Realty & Development Co., Ltd. (Japan) |  | 6957 | 169591 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sun Hung Kai Properties Ltd. (Hong Kong) |  | 14000 | 198543 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; United Urban Investment Corp. (Japan) |  | 100 | 113790 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Warehouses De Pauw CVA (Belgium) |  | 1975 | 62631 |
|  |  |  | 1682985 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ELECTRIC—FOREIGN | 0.1% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Daiwa House REIT Investment Corp. (Japan)(b) |  | 46 | 100084 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; HEALTH CARE | 1.3% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Healthcare Realty Trust, Inc., Class A |  | 6258 | 134735 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Healthpeak Properties, Inc. |  | 2446 | 67216 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Welltower, Inc. |  | 9747 | 731415 |
|  |  |  | 933366 |

---

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---

| | | | |
|:---|:---|:---|:---|
|  | | **Shares** | **Value** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; HEALTH CARE—FOREIGN | 0.2% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Assura PLC (United Kingdom) |  | 31616 | $21730 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; HealthCo REIT (Australia) |  | 38008 | 43730 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Parkway Life Real Estate Investment Trust (Singapore) |  | 35026 | 108408 |
|  |  |  | 173868 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; HOTEL | 0.3% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Xenia Hotels & Resorts, Inc. |  | 15692 | 233811 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; HOTEL—FOREIGN | 0.2% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; CapitaLand Ascott Trust (Singapore)(c) |  | 41000 | 34757 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Japan Hotel REIT Investment Corp. (Japan) |  | 106 | 67170 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pandox AB (Sweden)(b) |  | 3530 | 48601 |
|  |  |  | 150528 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; INDUSTRIALS | 1.9% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Americold Realty Trust, Inc. |  | 8201 | 257594 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Prologis, Inc. |  | 8669 | 1120728 |
|  |  |  | 1378322 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; INDUSTRIALS—FOREIGN | 0.9% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; CapitaLand Ascendas REIT (Singapore) |  | 33100 | 72841 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Catena AB (Sweden) |  | 1951 | 81622 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Frasers Logistics & Commercial Trust (Singapore) |  | 78100 | 75171 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Goodman Group (Australia) |  | 7727 | 110214 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Nippon Prologis REIT, Inc. (Japan)(b) |  | 49 | 111188 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Segro PLC (United Kingdom) |  | 6181 | 63625 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sirius Real Estate Ltd. (Germany) |  | 53113 | 55331 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Tritax Big Box REIT PLC (United Kingdom) |  | 31592 | 60870 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Urban Logistics REIT PLC (United Kingdom) |  | 31245 | 55277 |
|  |  |  | 686139 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; NET LEASE | 0.8% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; NETSTREIT Corp. |  | 6004 | 120860 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Realty Income Corp. |  | 4720 | 320158 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Spirit Realty Capital, Inc. |  | 3330 | 146120 |
|  |  |  | 587138 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; NET LEASE—FOREIGN | 0.2% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ARGAN SA (France) |  | 1223 | 103946 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; LXI REIT PLC (United Kingdom) |  | 23631 | 32893 |
|  |  |  | 136839 |

---

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| | | | |
|:---|:---|:---|:---|
|  | | **Shares** | **Value** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; OFFICE | 0.4% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Cousins Properties, Inc. |  | 3428 | $93996 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Highwoods Properties, Inc. |  | 6041 | 183465 |
|  |  |  | 277461 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; OFFICE—FOREIGN | 0.2% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Dexus (Australia) |  | 11511 | 66741 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Great Portland Estates PLC (United Kingdom) |  | 5563 | 39058 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Kenedix Office Investment Corp. (Japan) |  | 20 | 47511 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Wihlborgs Fastigheter AB (Sweden) |  | 3190 | 26264 |
|  |  |  | 179574 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; RESIDENTIAL | 3.5% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; APARTMENT | 1.4% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Apartment Income REIT Corp. |  | 6637 | 253932 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Camden Property Trust |  | 2111 | 260096 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Essex Property Trust, Inc. |  | 265 | 59908 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Mid-America Apartment Communities, Inc. |  | 1869 | 311600 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; UDR, Inc. |  | 3797 | 161714 |
|  |  |  | 1047250 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; APARTMENT—FOREIGN | 1.0% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Advance Residence Investment Corp. (Japan) |  | 39 | 95268 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Aedifica SA (Belgium) |  | 396 | 34750 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invincible Investment Corp. (Japan) |  | 274 | 116853 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Japan Metropolitan Fund Invest (Japan) |  | 171 | 132197 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; LEG Immobilien SE (Germany) |  | 2495 | 195044 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; UNITE Group PLC/The (United Kingdom) |  | 2030 | 25008 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Wharf Real Estate Investment Co., Ltd. (Hong Kong) |  | 27000 | 154566 |
|  |  |  | 753686 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; MANUFACTURED HOME | 0.4% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sun Communities, Inc. |  | 1904 | 298662 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; SINGLE FAMILY | 0.7% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invitation Homes, Inc. |  | 15778 | 512785 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; TOTAL RESIDENTIAL |  |  | 2612383 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; RETAIL—FOREIGN | 0.8% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Eurocommercial Properties NV (Netherlands) |  | 1597 | 39990 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Klepierre SA (France)(b) |  | 6342 | 160962 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Link REIT (Hong Kong) |  | 27283 | 218383 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Mercialys SA (France) |  | 8162 | 90646 |

---

------

---

| | | | |
|:---|:---|:---|:---|
|  | | **Shares** | **Value** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; RioCan Real Estate Investment Trust (Canada) |  | 4903 | $85049 |
|  |  |  | 595030 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; SELF STORAGE | 1.1% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; CubeSmart |  | 3834 | 175559 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Life Storage, Inc. |  | 2341 | 252921 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Public Storage |  | 1379 | 419685 |
|  |  |  | 848165 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; SELF STORAGE—FOREIGN | 0.3% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; National Storage REIT (Australia) |  | 30751 | 50608 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Safestore Holdings PLC (United Kingdom) |  | 11426 | 142273 |
|  |  |  | 192881 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; SHOPPING CENTERS | 1.2% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; COMMUNITY CENTER | 0.5% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Kite Realty Group Trust |  | 15230 | 330491 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; REGIONAL MALL | 0.7% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Simon Property Group, Inc. |  | 4265 | 547882 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; TOTAL SHOPPING CENTERS | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; TOTAL SHOPPING CENTERS | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; TOTAL SHOPPING CENTERS | 878373 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; TOTAL REAL ESTATE | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; TOTAL REAL ESTATE | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; TOTAL REAL ESTATE | 12889463 |
| &nbsp;&nbsp;&nbsp;&nbsp; TOLL ROADS—FOREIGN | 2.3% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Transurban Group (Australia)c |  | 26342 | 258261 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Vinci SA (France) |  | 11498 | 1299154 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Zhejiang Expressway Co., Ltd., (H Shares) (China) |  | 150000 | 129529 |
|  |  |  | 1686944 |
| &nbsp;&nbsp;&nbsp;&nbsp; UTILITIES | 6.3% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ELECTRIC | 3.4% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Consolidated Edison, Inc. |  | 3437 | 327581 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Exelon Corp. |  | 17753 | 748999 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; NextEra Energy, Inc. |  | 1048 | 78212 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; PG&E Corp.(b) |  | 7920 | 125928 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; PPL Corp. |  | 8899 | 263410 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sempra Energy |  | 5912 | 947871 |
|  |  |  | 2492001 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ELECTRIC—FOREIGN | 1.0% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; E.ON SE (Germany) |  | 18506 | 201769 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Enel SpA (Italy) |  | 64956 | 382469 |

---

------

---

| | | | |
|:---|:---|:---|:---|
|  | | **Shares** | **Value** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; RWE AG (Germany) |  | 4357 | $193969 |
|  |  |  | 778207 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; GAS—DISTRIBUTION | 1.2% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Atmos Energy Corp. |  | 2650 | 311481 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; NiSource, Inc. |  | 20039 | 556082 |
|  |  |  | 867563 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; MULTI-UTILITIES | 0.2% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; DTE Energy Co. |  | 1437 | 167224 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; WATER | 0.3% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Essential Utilities, Inc. |  | 4323 | 202014 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; WATER—FOREIGN | 0.2% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Guangdong Investment Ltd., (H shares) (China) |  | 178000 | 193382 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; TOTAL UTILITIES | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; TOTAL UTILITIES | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; TOTAL UTILITIES | 4700391 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; TOTAL COMMON STOCK<br>(Identified cost—$33,620,123) |  |  | 36309089 |
|  EXCHANGE-TRADED FUNDS—U.S. EQUITY | 0.7% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco Financial Preferred ETF |  | 34057 | 549339 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; TOTAL EXCHANGE-TRADED FUNDS<br>(Identified cost—$509,360) |  |  | 549339 |
|  MASTER LIMITED PARTNERSHIPS AND RELATED COMPANIES—ELECTRIC | 0.2% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Constellation Energy Corp. |  | 1397 | 119248 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; TOTAL MASTER LIMITED PARTNERSHIPS AND<br>RELATED COMPANIES<br>(Identified cost—$119,859) |  |  | 119248 |
|  PREFERRED SECURITIES—$25 PAR VALUE | 8.4% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; BANKS | 3.6% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Bank of America Corp., 5.375%, Series KK(d) |  | 3679 | 88811 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Bank of America Corp., 4.375%, Series NN(d) |  | 9572 | 191440 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Bank of America Corp., 4.125%, Series PP(d) |  | 15788 | 299656 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Bank of America Corp., 4.25%, Series QQ(d) |  | 8969 | 173550 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Bank of America Corp., 4.75%, Series SS(d) |  | 3320 | 72210 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Dime Community Bancshares, Inc., 5.50%(d) |  | 5287 | 114728 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; First Horizon Corp., 6.50%(d) |  | 2115 | 53933 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; First Republic Bank/CA, 4.00%, Series M(d) |  | 20435 | 373552 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; First Republic Bank/CA, 4.50%, Series N(d) |  | 9687 | 192287 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Fulton Financial Corp., 5.125%, Series A(d) |  | 4402 | 93102 |

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---

| | | | |
|:---|:---|:---|:---|
|  | | **Shares** | **Value** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; JPMorgan Chase & Co., 4.75%, Series GG(d) |  | 4275 | $94050 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; KeyCorp., 6.20% to 12/15/27, Series H(d),(e) |  | 1450 | 37164 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; PacWest Bancorp, 7.75% to 9/1/27, Series A(d),(e) |  | 1354 | 35042 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Signature Bank/New York NY, 5.00%, Series a(d) |  | 2483 | 47078 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Truist Financial Corp., 4.75%, Series R(d) |  | 4307 | 95615 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Wells Fargo & Co., 4.25%, Class DD(d) |  | 4772 | 93102 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Wells Fargo & Co., 4.70%, Series AA(d) |  | 4597 | 99203 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Wells Fargo & Co., 4.375%, Series CC(d) |  | 5880 | 118070 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Wells Fargo & Co., 5.625%, Series Y(d) |  | 3752 | 92674 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Wells Fargo & Co., 4.75%, Series Z(d) |  | 13318 | 282741 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Western Alliance Bancorp, 4.25% to 9/30/26, Series A(d),(e) |  | 2503 | 53739 |
|  |  |  | 2701747 |
| &nbsp;&nbsp;&nbsp;&nbsp; ELECTRIC | 0.3% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; CMS Energy Corp., 5.625%, due 3/15/78 |  | 3805 | 93984 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; SCE Trust V, 5.45% to 3/15/26, Series K (TruPS)(d),(e) |  | 6561 | 145851 |
|  |  |  | 239835 |
| &nbsp;&nbsp;&nbsp;&nbsp; ELECTRIC—FOREIGN | 0.3% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Brookfield Infrastructure Finance ULC, 5.00%, due 5/24/81 (Canada) |  | 1861 | 37481 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Brookfield Infrastructure Partners LP, 5.125%, Series 13<br>(Canada)(d) |  | 9106 | 183486 |
|  |  |  | 220967 |
| &nbsp;&nbsp;&nbsp;&nbsp; FINANCIAL | 0.5% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; DIVERSIFIED FINANCIAL SERVICES | 0.4% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Carlyle Finance LLC, 4.625%, due 5/15/61 |  | 2551 | 49183 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Oaktree Capital Group LLC, 6.55%, Series B(d) |  | 7222 | 173111 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Synchrony Financial, 5.625%, Series A(d) |  | 1874 | 37124 |
|  |  |  | 259418 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; INVESTMENT BANKER/BROKER | 0.1% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Morgan Stanley, 6.50%, Series P(d) |  | 4021 | 104707 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; TOTAL FINANCIAL |  |  | 364125 |
| &nbsp;&nbsp;&nbsp;&nbsp; INSURANCE | 2.0% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; LIFE/HEALTH INSURANCE | 1.1% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Athene Holding Ltd., 6.35% to 6/30/29, Series A(d),(e) |  | 1595 | 40625 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Athene Holding Ltd., 5.625%, Series B(d) |  | 3816 | 89600 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Athene Holding Ltd., 4.875%, Series D(d) |  | 9556 | 191215 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Athene Holding Ltd., 7.75% to 12/30/27, Series E(d),(e) |  | 4652 | 122766 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Brighthouse Financial, Inc., 5.375%, Series C(d) |  | 4497 | 91289 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; CNO Financial Group, Inc., 5.125%, due 11/25/60 |  | 2483 | 45141 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Equitable Holdings, Inc., 5.25%, Series A(d) |  | 1004 | 22710 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Equitable Holdings, Inc., 4.30%, Series C(d) |  | 1045 | 20566 |

---

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| | | | |
|:---|:---|:---|:---|
|  | | **Shares** | **Value** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Lincoln National Corp., 9.00%, Series D(d) |  | 6400 | $184000 |
|  |  |  | 807912 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; MULTI-LINE | 0.1% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Kemper Corp., 5.875% to 3/15/27, due 3/15/62(e) |  | 3025 | 69212 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; MULTI-LINE—FOREIGN | 0.1% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; AEGON Funding Co. LLC, 5.10%, due 12/15/49 (Netherlands) |  | 4044 | 91597 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; PROPERTY CASUALTY | 0.1% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Enstar Group Ltd., 7.00% to 9/1/28, Series D(d),(e) |  | 4273 | 102680 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; REINSURANCE | 0.4% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Arch Capital Group Ltd., 4.55%, Series G(d) |  | 5784 | 115622 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Reinsurance Group of America, Inc., 7.125% to 10/15/27, due 10/15/52(e) |  | 6555 | 174625 |
|  |  |  | 290247 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; REINSURANCE—FOREIGN | 0.2% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; RenaissanceRe Holdings Ltd., 5.75%, Series F (Bermuda)(d) |  | 2297 | 55496 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; RenaissanceRe Holdings Ltd., 4.20%, Series G (Bermuda)(d) |  | 5222 | 94936 |
|  |  |  | 150432 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; TOTAL INSURANCE | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; TOTAL INSURANCE | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; TOTAL INSURANCE | 1512080 |
| &nbsp;&nbsp;&nbsp;&nbsp; INTEGRATED TELECOMMUNICATIONS SERVICES | 0.7% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; AT&T, Inc., 5.35%, due 11/1/66 |  | 3809 | 91454 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Telephone and Data Systems, Inc., 6.625%, Series UU(d) |  | 3953 | 76491 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Telephone and Data Systems, Inc., 6.00%, Series VV(d) |  | 8525 | 147653 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; United States Cellular Corp., 5.50%, due 3/1/70 |  | 1928 | 35764 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; United States Cellular Corp., 5.50%, due 6/1/70 |  | 3621 | 67749 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; United States Cellular Corp., 6.25%, due 9/1/69 |  | 3295 | 65175 |
|  |  |  | 484286 |
| &nbsp;&nbsp;&nbsp;&nbsp; PIPELINES | 0.2% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Energy Transfer LP, 7.60% to 5/15/24, Series E(d),(e) |  | 6122 | 146928 |
| &nbsp;&nbsp;&nbsp;&nbsp; PIPELINES—FOREIGN | 0.2% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Enbridge, Inc., 5.949% to 6/1/23, Series 1 (Canada)(d),(e) |  | 2156 | 48445 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Enbridge, Inc., 5.858% to 9/1/27, Series L (Canada)(d),(e) |  | 1937 | 38876 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; TC Energy Corp., 3.351% to 11/30/25, Series 11 (Canada)(d),(e) |  | 3054 | 40328 |
|  |  |  | 127649 |
| &nbsp;&nbsp;&nbsp;&nbsp; REAL ESTATE—OFFICE | 0.1% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Brookfield Property Partners LP, 5.75%, Series A(d) |  | 4462 | 81387 |

---

------

---

| | | | |
|:---|:---|:---|:---|
|  | | **Shares** | **Value** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Brookfield Property Preferred LP, 6.25%, due 7/26/81 |  | 990 | $18840 |
|  |  |  | 100227 |
| &nbsp;&nbsp;&nbsp;&nbsp; UTILITIES—ELECTRIC—FOREIGN | 0.5% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Algonquin Power & Utilities Corp., 6.875% to 10/17/23, due 10/17/78 (Canada)(e) |  | 7210 | 179890 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Algonquin Power & Utilities Corp., 6.20% to 7/1/24, due 7/1/79, Series 19-A (Canada)(e) |  | 3707 | 86002 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Brookfield BRP Holdings Canada, Inc., 4.625%, due 4/30/26 (Canada) |  | 2618 | 46522 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Brookfield BRP Holdings Canada, Inc., 4.875% (Canada)(d) |  | 2422 | 44419 |
|  |  |  | 356833 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; TOTAL PREFERRED SECURITIES—$25 PAR VALUE<br>(Identified cost—$6,452,135) |  |  | 6254677 |
|  |  | **Principal<br>Amount** |  |
|  PREFERRED SECURITIES—CAPITAL SECURITIES | 38.8% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; BANKS | 7.5% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Ally Financial, Inc., 4.70% to 5/15/26, Series B(d),(e) |  | $17000 | 14036 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Ally Financial, Inc., 4.70% to 5/15/28, Series C(d),(e) |  | 207000 | 159390 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Bank of America Corp., 4.375% to 1/27/27, Series RR(d),(e) |  | 36000 | 32764 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Bank of America Corp., 5.875% to 3/15/28, Series FF(d),(e) |  | 198000 | 189832 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Bank of America Corp., 6.10% to 3/17/25, Series AA(d),(e) |  | 205000 | 205594 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Bank of America Corp., 6.125% to 4/27/27, Series TT(d),(e) |  | 145000 | 145507 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Bank of America Corp., 6.25% to 9/5/24, Series X(d),(e) |  | 409000 | 409769 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Bank of America Corp., 6.30% to 3/10/26, Series DD(d),(e) |  | 74000 | 75236 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Bank of America Corp., 6.50% to 10/23/24, Series Z(d),(e) |  | 140000 | 141045 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Bank of New York Mellon Corp./The, 3.75% to 12/20/26, Series I(d),(e) |  | 20000 | 17426 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Capital One Financial Corp., 3.95% to 9/1/26, Series M(d),(e) |  | 41000 | 35688 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Citigroup, Inc., 3.875% to 2/18/26(d),(e) |  | 307000 | 281028 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Citigroup, Inc., 4.00% to 12/10/25, Series W(d),(e) |  | 153000 | 141929 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Citigroup, Inc., 5.00% to 9/12/24, Series U(d),(e) |  | 79000 | 75642 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Citigroup, Inc., 5.95% to 5/15/25, Series P(d),(e) |  | 378000 | 368843 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Citigroup, Inc., 6.25% to 8/15/26, Series T(d),(e) |  | 207000 | 208871 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Citizens Financial Group, Inc., 5.65% to 10/6/25, Series F(d),(e) |  | 85000 | 84148 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; CoBank ACB, 6.45% to 10/1/27, Series K(d),(e) |  | 130000 | 131579 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Comerica, Inc., 5.625% to 7/1/25(d),(e) |  | 73000 | 71747 |

---

------

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | | **Principal<br>Amount** |  | **Value** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Dresdner Funding Trust I, 8.151%, due 6/30/31, 144A (TruPS)(a) |  | $100000 |  | $108500 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Farm Credit Bank of Texas, 5.70% to 9/15/25, Series 4, 144A(a),(d),(e) |  | 125000 |  | 117500 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; First Horizon Bank, 5.66% (3 Month US LIBOR + 0.85%, Floor 3.75%),<br>144A (FRN)(a),(d),(f) |  | 50 | <sup>†</sup> | 41750 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Goldman Sachs Capital I, 6.345%, due 2/15/34 (TruPS) |  | 69000 |  | 74442 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Goldman Sachs Group, Inc./The, 3.65% to 8/10/26, Series U(d),(e) |  | 206000 |  | 179653 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Goldman Sachs Group, Inc./The, 3.80% to 5/10/26, Series T(d),(e) |  | 105000 |  | 92056 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Goldman Sachs Group, Inc./The, 4.125% to 11/10/26, Series V(d),(e) |  | 42000 |  | 37411 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Huntington Bancshares, Inc./OH., 5.625% to 7/15/30, Series F(d),(e) |  | 90000 |  | 88848 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; JPMorgan Chase & Co., 5.00% to 8/1/24, Series FF(d),(e) |  | 40000 |  | 38925 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; JPMorgan Chase & Co., 6.10% to 10/1/24, Series X(d),(e) |  | 55000 |  | 54897 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; JPMorgan Chase & Co., 6.125% to 4/30/24, Series U(d),(e) |  | 70000 |  | 70700 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; JPMorgan Chase & Co., 6.75% to 2/1/24, Series S(d),(e) |  | 138000 |  | 139477 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; PNC Financial Services Group, Inc./The, 6.20% to 9/15/27, Series V(d),(e) |  | 182000 |  | 182510 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; SVB Financial Group, 4.00% to 5/15/26, Series C(d),(e) |  | 210000 |  | 168392 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; SVB Financial Group, 4.25% to 11/15/26, Series D(d),(e) |  | 210000 |  | 168189 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; SVB Financial Group, 4.70% to 11/15/31, Series E(d),(e) |  | 110000 |  | 84700 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Truist Financial Corp., 4.95% to 9/1/25, Series P(d),(e) |  | 71000 |  | 70468 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Truist Financial Corp., 5.10% to 3/1/30, Series Q(d),(e) |  | 117000 |  | 113958 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; US Bancorp, 5.30% to 4/15/27, Series J(d),(e) |  | 35000 |  | 32573 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; US Bancorp, 5.85% (3 Month US LIBOR + 1.20%, Floor 3.50%),<br>Series A (FRN)(d),(f) |  | 44 | <sup>†</sup> | 35310 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; USB Capital IX, 5.812% (3 Month US LIBOR + 1.02%, Floor 3.50%)<br>(FRN) (TruPS)(d),(f) |  | 15000 |  | 12433 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Wells Fargo & Co., 3.90% to 3/15/26, Series BB(d),(e) |  | 755000 |  | 696487 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Wells Fargo & Co., 5.875% to 6/15/25, Series U(d),(e) |  | 172000 |  | 171604 |
|  |  |  |  | 5570857 |
| &nbsp;&nbsp;&nbsp;&nbsp; BANKS—FOREIGN | 12.6% |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Abanca Corp. Bancaria SA, 6.00% to 1/20/26 (Spain)(d),(e),(g),(h) |  | 200000 |  | 200306 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Banco de Sabadell SA, 9.375% to 7/18/28, (Spain)(d),(e),(g),(h) |  | 200000 |  | 226644 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Banco Mercantil del Norte SA/Grand Cayman, 6.625% to 1/24/32,<br>144A (Mexico)(a),(d),(e),(h) |  | 200000 |  | 176861 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Banco Santander SA, 4.75% to 11/12/26 (Spain)(d),(e),(h) |  | 200000 |  | 174034 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Bank of Ireland Group PLC, 7.50% to 5/19/25 (Ireland)(d),(e),(g),(h) |  | 200000 |  | 217467 |

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------

---

| | | |
|:---|:---|:---|
|  | **Principal<br>Amount** | **Value** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Bank of Nova Scotia/The, 4.90% to 6/4/25 (Canada)(d),(e) | $140000 | $136312 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Bank of Nova Scotia/The, 8.625% to 10/27/27, due 10/27/82 (Canada)(e) | 200000 | 213094 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Barclays Bank PLC, 6.278% to 12/15/34 (United Kingdom)(d),(e) | 100000 | 99754 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Barclays PLC, 4.375% to 3/15/28 (United Kingdom)(d),(e),(h) | 200000 | 163066 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Barclays PLC, 6.125% to 12/15/25 (United Kingdom)(d),(e),(h) | 200000 | 191248 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Barclays PLC, 8.00% to 3/15/29 (United Kingdom)(d),(e),(h) | 200000 | 201330 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Barclays PLC, 8.00% to 6/15/24 (United Kingdom)(d),(e),(h) | 200000 | 199750 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; BNP Paribas SA, 4.625% to 1/12/27, 144A (France)(a),(d),(e),(h) | 200000 | 175500 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; BNP Paribas SA, 7.375% to 6/11/30 (France)(d),(e),(g),(h) | 200000 | 222969 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; BNP Paribas SA, 7.75% to 8/16/29, 144A (France)(a),(d),(e),(h) | 400000 | 415000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; BNP Paribas SA, 9.25% to 11/17/27, 144A (France)(a),(d),(e),(h) | 200000 | 217700 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; CaixaBank SA, 5.875% to 10/9/27 (Spain)(d),(e),(g),(h) | 200000 | 202819 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Credit Agricole SA, 4.75% to 3/23/29, 144A (France)(a),(d),(e),(h) | 200000 | 170580 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Credit Suisse Group AG, 5.25% to 2/11/27, 144A<br>(Switzerland)(a),(d),(e),(h) | 200000 | 150500 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Credit Suisse Group AG, 6.375% to 8/21/26, 144A<br>(Switzerland)(a),(d),(e),(h) | 400000 | 325000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Credit Suisse Group AG, 9.75% to 6/23/27, 144A<br>(Switzerland)(a),(d),(e),(h) | 200000 | 194500 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Danske Bank A/S, 7.00% to 6/26/25 (Denmark)(d),(e),(g),(h) | 200000 | 194756 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Deutsche Bank AG, 6.00% to 10/30/25, Series 2020 (Germany)(d),(e),(h) | 200000 | 182531 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Deutsche Bank AG, 10.00% to 12/1/27 (Germany)(d),(e),(g),(h) | 200000 | 233221 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; HSBC Capital Funding Dollar 1 LP, 10.176% to 6/30/30, 144A<br>(United Kingdom)(a),(d),(e) | 120000 | 151200 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; HSBC Holdings PLC, 4.70% to 3/9/31 (United Kingdom)(d),(e),(h) | 200000 | 170050 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ING Groep N.V., 4.25% to 5/16/31, Series NC10 (Netherlands)(d),(e),(h) | 200000 | 151238 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ING Groep N.V., 4.875% to 5/16/29 (Netherlands)(d),(e),(g),(h) | 400000 | 335464 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ING Groep N.V., 5.75% to 11/16/26 (Netherlands)(d),(e),(h) | 200000 | 189413 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Intesa Sanpaolo SpA, 7.70% to 9/17/25, 144A (Italy)(a),(d),(e),(h) | 400000 | 378599 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Lloyds Banking Group PLC, 7.50% to 9/27/25<br>(United Kingdom)(d),(e),(h) | 200000 | 198550 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Nationwide Building Society, 5.75% to 6/20/27<br>(United Kingdom)(d),(e),(g),(h) | 200000 | 228205 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Natwest Group PLC, 4.60% to 6/28/31 (United Kingdom)(d),(e),(h) | 200000 | 153750 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Natwest Group PLC, 6.00% to 12/29/25 (United Kingdom)(d),(e),(h) | 200000 | 191500 |

---

------

---

| | | | |
|:---|:---|:---|:---|
|  | | **Principal<br>Amount** | **Value** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Natwest Group PLC, 8.00% to 8/10/25 (United Kingdom)(d),(e),(h) |  | $200000 | $202491 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Skandinaviska Enskilda Banken AB, 6.875% to 6/30/27<br>(Sweden)(d),(e),(g),(h) |  | 200000 | 200335 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Societe Generale SA, 5.375% to 11/18/30, 144A<br>(France)(a),(d),(e),(h) |  | 200000 | 172486 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Societe Generale SA, 6.75% to 4/6/28, 144A (France)(a),(d),(e),(h) |  | 200000 | 186741 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Societe Generale SA, 7.875% to 1/18/29, Series EMTN (France)(d),(e),(g),(h) |  | 100000 | 112724 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Societe Generale SA, 8.00% to 9/29/25, 144A (France)(a),(d),(e),(h) |  | 200000 | 202625 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Societe Generale SA, 9.375% to 11/22/27, 144A (France)(a),(d),(e),(h) |  | 200000 | 215250 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Toronto-Dominion Bank/The, 8.125% to 10/31/27, due 10/31/82 (Canada)(e) |  | 200000 | 212750 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; UBS Group AG, 4.875% to 2/12/27, 144A (Switzerland)(a),(d),(e),(h) |  | 200000 | 180280 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; UBS Group AG, 5.125% to 7/29/26 (Switzerland)(d),(e),(g),(h) |  | 200000 | 190261 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; UBS Group AG, 6.875% to 8/7/25 (Switzerland)(d),(e),(g),(h) |  | 200000 | 199065 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; UniCredit SpA, 8.00% to 6/3/24 (Italy)(d),(e),(g),(h) |  | 200000 | 198125 |
|  |  |  | 9306044 |
| &nbsp;&nbsp;&nbsp;&nbsp; ELECTRIC | 1.7% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; American Electric Power Co., Inc., 3.875% to 11/15/26, due 2/15/62(e) |  | 215000 | 184511 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; CMS Energy Corp., 4.75% to 3/1/30, due 6/1/50(e) |  | 91000 | 82988 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Dominion Energy, Inc., 4.35% to 1/15/27, Series C(d),(e) |  | 247000 | 222300 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Duke Energy Corp., 4.875% to 9/16/24(d),(e) |  | 200000 | 193197 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Southern Co./The, 3.75% to 6/15/26, due 9/15/51, Series 21-A(e) |  | 173000 | 151003 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Southern Co./The, 4.00% to 10/15/25, due 1/15/51, Series B(e) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Southern Co./The, 4.00% to 10/15/25, due 1/15/51, Series B(e) | 290000 | 276611 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Southern Co./The, 5.113%, due 8/1/27 |  | 130000 | 132337 |
|  |  |  | 1242947 |
| &nbsp;&nbsp;&nbsp;&nbsp; ELECTRIC—FOREIGN | 1.3% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Electricite de France SA, 5.625% to 1/22/24, 144A (France)(a),(d),(e) |  | 100000 | 97400 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Electricite de France SA, 7.50% to 9/6/28, Series EMTN<br>(France)(d),(e),(g) |  | 200000 | 223283 |

---

------

---

| | | | |
|:---|:---|:---|:---|
|  | | **Principal<br>Amount** | **Value** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Emera, Inc., 6.75% to 6/15/26, due 6/15/76, Series 16-A (Canada)(e) |  | $628000 | $619135 |
|  |  |  | 939818 |
| &nbsp;&nbsp;&nbsp;&nbsp; FINANCIAL | 2.6% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; CREDIT CARD | 0.2% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; American Express Co., 3.55% to 9/15/26, Series D(d),(e) |  | 147000 | 130433 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; DIVERSIFIED FINANCIAL SERVICES | 0.3% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Aircastle Ltd., 5.25% to 6/15/26, Series A, 144A(a),(d),(e) |  | 60000 | 49500 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Ares Finance Co. III LLC, 4.125% to 6/30/26, due 6/30/51, 144A(a),(e) |  | 165000 | 127945 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ILFC E-Capital Trust II, 6.538% (30 Year CMT + 1.80%), due 12/21/65, 144A (FRN) (TruPS)(a),(f) |  | 110000 | 73600 |
|  |  |  | 251045 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; DIVERSIFIED FINANCIAL SERVICES—FOREIGN | 0.5% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Julius Baer Group Ltd., 6.875% to 6/9/27 (Switzerland)(d),(e),(g),(h) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Julius Baer Group Ltd., 6.875% to 6/9/27 (Switzerland)(d),(e),(g),(h) | 400000 | 400001 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; INVESTMENT BANKER/BROKER | 1.6% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Charles Schwab Corp./The, 4.00% to 12/1/30, Series H(d),(e) |  | 413000 | 355800 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Charles Schwab Corp./The, 4.00% to 6/1/26, Series I(d),(e) |  | 696000 | 642165 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Charles Schwab Corp./The, 5.375% to 6/1/25, Series G(d),(e) |  | 177000 | 176504 |
|  |  |  | 1174469 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; TOTAL FINANCIAL |  |  | 1955948 |
| &nbsp;&nbsp;&nbsp;&nbsp; INSURANCE | 6.5% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; FINANCE | 0.2% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Liberty Mutual Group, Inc., 4.125% to 9/15/26, due 12/15/51,<br>144A(a),(e) |  | 146000 | 125157 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; LIFE/HEALTH INSURANCE | 2.0% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Corebridge Financial, Inc., 6.875% to 9/15/27, due 12/15/52,<br>144A(a),(e) |  | 190000 | 189274 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Equitable Holdings, Inc., 4.95% to 9/15/25, Series B(d),(e) |  | 110000 | 106962 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Lincoln National Corp., 9.25% to 12/1/27, Series C(d),(e) |  | 53000 | 58698 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; MetLife Capital Trust IV, 7.875%, due 12/15/37, 144A (TruPS)(a) |  | 100000 | 110250 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; MetLife, Inc., 9.25%, due 4/8/38, 144A(a) |  | 300000 | 362659 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; MetLife, Inc., 10.75%, due 8/1/39 |  | 100000 | 137600 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Prudential Financial, Inc., 5.125% to 11/28/31, due 3/1/52(e) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Prudential Financial, Inc., 5.125% to 11/28/31, due 3/1/52(e) | 115000 | 107436 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Prudential Financial, Inc., 6.00% to 6/1/32, due 9/1/52(e) |  | 195000 | 194779 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; SBL Holdings, Inc., 6.50% to 11/13/26, 144A(a),(d),(e) |  | 150000 | 115320 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; SBL Holdings, Inc., 7.00% to 5/13/25, 144A(a),(d),(e) |  | 140000 | 116225 |
|  |  |  | 1499203 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; LIFE/HEALTH INSURANCE—FOREIGN | 0.8% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Aegon NV, 5.50% to 4/11/28, due 4/11/48 (Netherlands)(e) |  | 200000 | 191036 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Aegon NV, 5.625% to 4/15/29 (Netherlands)(d),(e),(g),(h) |  | 200000 | 207104 |

---

------

---

| | | | |
|:---|:---|:---|:---|
|  | | **Principal<br>Amount** | **Value** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Phoenix Group Holdings PLC, 5.625% to 1/29/25<br>(United Kingdom)(d),(e),(g),(h) |  | $200000 | $188502 |
|  |  |  | 586642 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; MULTI-LINE | 0.1% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Hartford Financial Services Group, Inc./The, 6.731% (3 Month US LIBOR + 2.125%), due 2/12/47, Series ICON, 144A (FRN)(a),(f) |  | 100000 | 85775 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; MULTI-LINE—FOREIGN | 0.7% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Allianz SE, 3.50% to 11/17/25, 144A (Germany)(a),(d),(e),(h) |  | 200000 | 174920 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; AXA SA, 6.379% to 12/14/36, 144A (France)(a),(d),(e) |  | 100000 | 105179 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; AXA SA, 8.60%, due 12/15/30 (France) |  | 60000 | 74082 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; CNP Assurances, 4.875% to 10/7/30 (France)(d),(e),(g),(h) |  | 200000 | 165516 |
|  |  |  | 519697 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; PROPERTY CASUALTY | 1.1% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Assurant, Inc., 7.00% to 3/27/28, due 3/27/48(e) |  | 500000 | 497138 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Enstar Finance LLC, 5.50% to 1/15/27, due 1/15/42(e) |  | 145000 | 119785 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Enstar Finance LLC, 5.75% to 9/1/25, due 9/1/40(e) |  | 130000 | 116657 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Markel Corp., 6.00% to 6/1/25(d),(e) |  | 55000 | 54931 |
|  |  |  | 788511 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; PROPERTY CASUALTY—FOREIGN | 1.0% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Lancashire Holdings Ltd., 5.625% to 3/18/31, due 9/18/41<br>(United Kingdom)(e),(g) |  | 200000 | 166674 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; QBE Insurance Group Ltd., 5.875% to 5/12/25, 144A<br>(Australia)(a),(d),(e) |  | 400000 | 395000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Zurich Finance Ireland Designated Activity Co., 3.00% to 1/19/31, due 4/19/51, Series EMTN (Switzerland)(e),(g) |  | 200000 | 159375 |
|  |  |  | 721049 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; REINSURANCE | 0.3% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; AXIS Specialty Finance LLC, 4.90% to 1/15/30, due 1/15/40(e) |  | 55000 | 46829 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Global Atlantic Fin Co., 4.70% to 7/15/26, due 10/15/51, 144A(a),(e) |  | 242000 | 208671 |
|  |  |  | 255500 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; REINSURANCE—FOREIGN | 0.3% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Swiss Re Finance Luxembourg SA, 5.00% to 4/2/29, due 4/2/49, 144A (Switzerland)(a),(e) |  | 200000 | 194116 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; TOTAL INSURANCE |  |  | 4775650 |

---

------

---

| | | | |
|:---|:---|:---|:---|
|  | | **Principal<br>Amount** | **Value** |
| &nbsp;&nbsp;&nbsp;&nbsp; INTEGRATED TELECOMMUNICATIONS SERVICES—FOREIGN | 0.5% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Telefonica Europe BV, 6.135% to 2/3/30 (Spain)(d),(e),(g) |  | $100000 | $107098 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Vodafone Group PLC, 4.125% to 3/4/31, due 6/4/81<br>(United Kingdom)(e) |  | 110000 | 89199 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Vodafone Group PLC, 6.25% to 7/3/24, due 10/3/78<br>(United Kingdom)(e),(g) |  | 200000 | 196542 |
|  |  |  | 392839 |
| &nbsp;&nbsp;&nbsp;&nbsp; OIL & GAS—FOREIGN | 0.9% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; BP Capital Markets PLC, 4.375% to 6/22/25 (United Kingdom)(d),(e) |  | 290000 | 280503 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; BP Capital Markets PLC, 4.875% to 3/22/30 (United Kingdom)(d),(e) |  | 405000 | 379434 |
|  |  |  | 659937 |
| &nbsp;&nbsp;&nbsp;&nbsp; PIPELINES | 0.4% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Energy Transfer LP, 6.50% to 11/15/26, Series H(d),(e) |  | 120000 | 112846 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Energy Transfer LP, 7.125% to 5/15/30, Series G(d),(e) |  | 200000 | 183200 |
|  |  |  | 296046 |
| &nbsp;&nbsp;&nbsp;&nbsp; PIPELINES—FOREIGN | 2.4% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Enbridge, Inc., 5.75% to 4/15/30, due 7/15/80, Series 20-A (Canada)(e) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Enbridge, Inc., 5.75% to 4/15/30, due 7/15/80, Series 20-A (Canada)(e) | 315000 | 298869 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Enbridge, Inc., 6.00% to 1/15/27, due 1/15/77, Series 16-A (Canada)(e) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Enbridge, Inc., 6.00% to 1/15/27, due 1/15/77, Series 16-A (Canada)(e) | 300000 | 285340 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Enbridge, Inc., 6.25% to 3/1/28, due 3/1/78 (Canada)(e) |  | 80000 | 76204 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Enbridge, Inc., 7.375% to 10/15/27, due 1/15/83 (Canada)(e) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Enbridge, Inc., 7.375% to 10/15/27, due 1/15/83 (Canada)(e) | 92000 | 92204 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Enbridge, Inc., 7.625% to 10/15/32, due 1/15/83 (Canada)(e) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Enbridge, Inc., 7.625% to 10/15/32, due 1/15/83 (Canada)(e) | 198000 | 204394 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Transcanada Trust, 5.50% to 9/15/29, due 9/15/79 (Canada)(e) |  | 283000 | 256454 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Transcanada Trust, 5.60% to 12/7/31, due 3/7/82 (Canada)(e) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Transcanada Trust, 5.60% to 12/7/31, due 3/7/82 (Canada)(e) | 122000 | 109342 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Transcanada Trust, 5.625% to 5/20/25, due 5/20/75 (Canada)(e) |  | 175000 | 168867 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Transcanada Trust, 5.875% to 8/15/26, due 8/15/76, Series 16-A (Canada)(e) |  | 270000 | 263196 |
|  |  |  | 1754870 |
| &nbsp;&nbsp;&nbsp;&nbsp; REAL ESTATE—RETAIL—FOREIGN | 0.7% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Scentre Group Trust 2, 4.75% to 6/24/26, due 9/24/80, 144A (Australia)(a),(e) |  | 400000 | 373749 |

---

------

---

| | | | |
|:---|:---|:---|:---|
|  | | **Principal**<br>**Amount** | **Value** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Scentre Group Trust 2, 5.125% to 6/24/30, due 9/24/80, 144A<br>(Australia)(a),(e) |  | $200000 | $176217 |
|  |  |  | 549966 |
| &nbsp;&nbsp;&nbsp;&nbsp; UTILITIES | 1.7% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ELECTRIC | 1.2% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Edison International, 5.00% to 12/15/26, Series B(d),(e) |  | 185000 | 164944 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Edison International, 5.375% to 3/15/26, Series A(d),(e) |  | 203000 | 190146 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; NextEra Energy Capital Holdings, Inc., 5.65% to 5/1/29, due 5/1/79(e) |  | 60000 | 57326 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sempra Energy, 4.125% to 1/1/27, due 4/1/52(e) |  | 160000 | 140295 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sempra Energy, 4.875% to 10/15/25(d),(e) |  | 315000 | 303188 |
|  |  |  | 855899 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ELECTRIC—FOREIGN | 0.5% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Algonquin Power & Utilities Corp., 4.75% to 1/18/27, due 1/18/82 (Canada)(e) |  | 335000 | 283487 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Enel SpA, 6.625% to 4/16/31, Series EMTN (Italy)(d),(e),(g) |  | 100000 | 110922 |
|  |  |  | 394409 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; TOTAL UTILITIES |  |  | 1250308 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; TOTAL PREFERRED SECURITIES—CAPITAL SECURITIES<br>(Identified cost—$29,531,042) |  |  | 28695230 |
|  CORPORATE BONDS—BANKS—FOREIGN | 0.3% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Intesa Sanpaolo SpA, 8.248% to 11/21/32, due 11/21/33, 144A<br>(Italy)(a),(e) |  | 200000 | 219018 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; TOTAL CORPORATE BONDS<br>(Identified cost—$200,000) |  |  | 219018 |
|  |  | **Shares** |  |
|  SHORT-TERM INVESTMENTS | 1.2% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; MONEY MARKET FUNDS |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; State Street Institutional Treasury Money Market Fund, Premier Class, 4.18%(i) |  | 899321 | 899321 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; TOTAL SHORT-TERM INVESTMENTS<br>(Identified cost—$899,321) |  |  | 899321 |

---

------

---

| | | |
|:---|:---|:---|
|  | | **Value** |
|  TOTAL INVESTMENTS IN SECURITIES<br>(Identified cost—$72,190,838) | 99.8% | $73848060 |
|  WRITTEN OPTION CONTRACTS<br>(Premiums received—$57,120) | (0.1) | (60970) |
|  OTHER ASSETS IN EXCESS OF LIABILITIES | 0.3 | 197258 |
|  NET ASSETS | 100.0% | $73984348 |

---

**Over-The-Counter Option Contracts** 

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Written Options** | | | | | | | | |
| **Description** | **Counterparty** | **Exercise**<br> **Price** | **Exercise**<br> **Price** | **Expiration**<br> **Date** | **Number of**<br> **Contracts** | **Notional**<br> **Amount(j)** | **Premiums**<br> **Received** | **Value** |
|  Call — Aena SME SA | Goldman Sachs International | EUR | 142.038 | 3/17/23 | (424) | $(63381) | $(1253) | $(985) |
|  Call — Agnico Eagle Mines Ltd. | Goldman Sachs International | CAD | 81.744 | 3/17/23 | (2055) | (116052) | (1974) | (1652) |
|  Call — American Tower Corp. | Goldman Sachs International |  | 239.411 | 3/17/23 | (1360) | (303810) | (4398) | (4018) |
|  Call — Bunge Ltd. | Goldman Sachs International |  | 105.595 | 3/17/23 | (875) | (86713) | (1189) | (1608) |
|  Call — Canadian Pacific Railway Ltd. | Goldman Sachs International | CAD | 108.50 | 3/17/23 | (341) | (26915) | (550) | (530) |
|  Call — CenterPoint Energy, Inc. | Goldman Sachs International |  | 30.634 | 3/17/23 | (3346) | (100782) | (2398) | (2281) |
|  Call — Consolidated Edison, Inc. | Goldman Sachs International |  | 95.037 | 3/17/23 | (775) | (73865) | (1717) | (2010) |

---

------

**Over-The-Counter Option Contracts (Continued)** 

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Description** | **Counterparty** | **Exercise**<br> **Price** | **Exercise**<br> **Price** | **Expiration**<br> **Date** | **Number of**<br> **Contracts** | **Notional**<br> **Amount(j)** | **Premiums**<br> **Received** | **Value** |
|  Call — Constellation<br> Energy | Goldman Sachs International |  | 91.607 | 3/17/23 | (313) | $(26718) | $(394) | $(597) |
|  Call — Crown Castle International Corp. | Goldman Sachs International |  | 157.066 | 3/17/23 | (1043) | (154479) | (2347) | (1485) |
|  Call — CSX Corp. | Goldman Sachs International |  | 33.489 | 3/17/23 | (1739) | (53770) | (1146) | (472) |
|  Call — Digital Realty Trust, Inc. | Goldman Sachs International |  | 117.894 | 3/17/23 | (2051) | (235086) | (2532) | (5756) |
|  Call — E.ON SE | Goldman Sachs International | EUR | 10.217 | 3/17/23 | (4203) | (45629) | (881) | (882) |
|  Call — Equinix, Inc. | Goldman Sachs International |  | 765.568 | 3/17/23 | (37) | (27311) | (383) | (639) |
|  Call — Essex Property Trust, Inc. | Goldman Sachs International |  | 231.994 | 3/17/23 | (60) | (13564) | (172) | (349) |
|  Call — Exelon Corp. | Goldman Sachs International |  | 43.242 | 3/17/23 | (3950) | (166651) | (3941) | (2272) |
|  Call — Healthpeak Properties, Inc. | Goldman Sachs International |  | 28.316 | 3/17/23 | (563) | (15471) | (198) | (287) |
|  Call — Hydro One Ltd. | Goldman Sachs International | CAD | 37.42 | 3/17/23 | (2046) | (55942) | (1236) | (525) |
|  Call — Invitation Homes, Inc. | Goldman Sachs International |  | 34.459 | 3/17/23 | (3514) | (114205) | (1123) | (1790) |
|  Call — Life Storage, Inc. | Goldman Sachs International |  | 113.03 | 3/17/23 | (391) | (42244) | (274) | (880) |
|  Call — National Grid PLC | Goldman Sachs International | GBP | 10.464 | 3/17/23 | (15517) | (196084) | (4751) | (3490) |
|  Call — Oneok, Inc. | Goldman Sachs International |  | 72.22 | 3/17/23 | (2145) | (146890) | (3009) | (2072) |
|  Call — P G + E Corp. | Goldman Sachs International |  | 16.766 | 3/17/23 | (1789) | (28445) | (548) | (553) |
|  Call — Pembina Pipeline Corp. | Goldman Sachs International | CAD | 49.085 | 3/17/23 | (4924) | &nbsp;&nbsp;&nbsp;&nbsp;(174711) | &nbsp;&nbsp;&nbsp;&nbsp;(3639) | &nbsp;&nbsp;&nbsp;&nbsp;(1023) |

---

------

**Over-The-Counter Option Contracts (Continued)** 

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Description** | **Counterparty** | **Exercise**<br> **Price** | **Exercise**<br> **Price** | **Expiration**<br> **Date** | **Number of**<br> **Contracts** | **Notional**<br> **Amount(j)** | **Premiums**<br> **Received** | **Value** |
|  Call — Prologis, Inc. | Goldman Sachs International |  | 132.83 | 3/17/23 | (1937) | $(250415) | $(2473) | $(5995) |
|  Call — Public Storage | Goldman Sachs International |  | 308.99 | 3/17/23 | (304) | (92519) | (1021) | (2338) |
|  Call — Realty Income Corp. | Goldman Sachs International |  | 68.823 | 3/17/23 | (1087) | (73731) | (833) | (1313) |
|  Call — Segro PLC | Goldman Sachs International | GBP | 8.67 | 3/17/23 | (1256) | (12855) | (312) | (382) |
|  Call — Sempra Energy | Goldman Sachs International |  | 162.493 | 3/17/23 | (1299) | (208269) | (4389) | (5753) |
|  Call — Simon Property Group, Inc. | Goldman Sachs International |  | 132.12 | 3/17/23 | (976) | (125377) | (1724) | (2617) |
|  Call — Vinci SA | Goldman Sachs International | EUR | 105.961 | 3/17/23 | (1953) | (220049) | (4381) | (3954) |
|  Call — Welltower, Inc. | Goldman Sachs International |  | 80.113 | 3/17/23 | (2172) | (162987) | (1472) | (1827) |
|  Call — Williams Cos., Inc./The | Goldman Sachs International |  | 32.611 | 3/17/23 | (753) | (24277) | (462) | (635) |
|  |  |  |  |  | (65198) | $(3439197) | $(57120) | $(60970) |

---

**Forward Foreign Currency Exchange Contracts** 

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Counterparty** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Contracts to<br> Deliver** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Contracts to<br> Deliver** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**In Exchange<br> For** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**In Exchange<br> For** | **Settlement<br>Date** | **Unrealized<br>Appreciation<br>(Depreciation)** |
|  Brown Brothers Harriman | CAD | 49322 | USD | 36410 | 2/2/23 | $(659) |
|  Brown Brothers Harriman | CAD | 4208 | USD | 3147 | 2/2/23 | (15) |
|  Brown Brothers Harriman | EUR | &nbsp;&nbsp;&nbsp;&nbsp;1182244 | USD | &nbsp;&nbsp;&nbsp;&nbsp;1264351 | 2/2/23 | (20926) |
|  Brown Brothers Harriman | EUR | 200000 | USD | 210938 | 2/2/23 | (6492) |
|  Brown Brothers Harriman | EUR | 100000 | USD | 107539 | 2/2/23 | (1176) |
|  Brown Brothers Harriman | EUR | 129851 | USD | 141016 | 2/2/23 | (151) |
|  Brown Brothers Harriman | EUR | 190137 | USD | 207493 | 2/2/23 | 786 |
|  Brown Brothers Harriman | GBP | 180073 | USD | 216781 | 2/2/23 | (5222) |

---

------

**Forward Foreign Currency Exchange Contracts (Continued)** 

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Counterparty** | **Contracts to**<br> **Deliver** | **Contracts to**<br> **Deliver** | **In Exchange For** | **In Exchange For** | **Settlement<br>Date** | **Unrealized<br>Appreciation<br>(Depreciation)** |
|  Brown Brothers Harriman | USD | 40178 | CAD | 53530 | 2/2/23 | $54 |
|  Brown Brothers Harriman | USD | 211544 | EUR | 194267 | 2/2/23 | (347) |
|  Brown Brothers Harriman | USD | 1746957 | EUR | 1607965 | 2/2/23 | 1142 |
|  Brown Brothers Harriman | USD | 221962 | GBP | 180073 | 2/2/23 | 41 |
|  Brown Brothers Harriman | CAD | 53750 | USD | 40347 | 3/2/23 | (58) |
|  Brown Brothers Harriman | EUR | 1607555 | USD | 1749557 | 3/2/23 | (1269) |
|  Brown Brothers Harriman | EUR | 308493 | USD | 335873 | 3/2/23 | (114) |
|  Brown Brothers Harriman | GBP | 186583 | USD | 230108 | 3/2/23 | (62) |
|  |  |  |  |  |  | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(34468) |

---

Glossary of Portfolio Abbreviations

---

| | |
|:---|:---|
| CAD | Canadian Dollar |
| CMT | Constant Maturity Treasury |
| EMTN | Euro Medium Term Note |
| ETF | Exchange-Traded Fund |
| EUR | Euro Currency |
| FRN | Floating Rate Note |
| GBP | Great British Pound |
| LIBOR | London Interbank Offered Rate |
| REIT | Real Estate Investment Trust |
| TruPS | Trust Preferred Securities |
| USD | United States Dollar |

---

------

Note: Percentages indicated are based on the net assets of the Fund.

† Represents shares

(a) Securities exempt from registration under Rule 144A of the Securities Act of 1933. These securities may only
be resold to qualified institutional buyers. Aggregate holdings amounted to $8,401,208 which represents 11.4% of the net assets of the Fund, of which 0.0% are illiquid.

(b) Non-income producing security.

(c) Stapled security. A security contractually bound to one or more other securities to form a single saleable
unit which cannot be sold separately.

(d) Perpetual security. Perpetual securities have no stated maturity date, but they may be called/redeemed by
the issuer.

(e) Security converts to floating rate after the indicated fixed-rate coupon period.

(f) Variable rate. Rate shown is in effect at January 31, 2023.

------

(g) Securities exempt from registration under Regulation S of the Securities Act of 1933. These securities are
subject to resale restrictions. Aggregate holdings amounted to $4,887,378 which represents 6.6% of the net assets of the Fund, of which 0.2% are illiquid.

(h) Contingent Capital security (CoCo). CoCos are debt or preferred securities with loss absorption
characteristics built into the terms of the security for the benefit of the issuer. Aggregate holdings amounted to $9,628,977 or 13.0% of the net assets of the Fund.

(i) Rate quoted represents the annualized seven-day yield.

(j) Represents the number of contracts multiplied by notional contract size multiplied by the underlying price.

------

---

| | |
|:---|:---|
| **Country Summary** | **% of<br>Net**<br>**Assets** |
|  United States | 50.4 |
|  Canada | 11.7 |
|  United Kingdom | 6.9 |
|  France | 6.1 |
|  Australia | 4.6 |
|  Spain | 3.1 |
|  Switzerland | 2.7 |
|  Japan | 1.9 |
|  Italy | 1.7 |
|  Germany | 1.7 |
|  Netherlands | 1.6 |
|  Hong Kong | 1.1 |
|  China | 1 |
|  Mexico | 0.7 |
|  Singapore | 0.6 |
|  Sweden | 0.5 |
|  Other (includes short-term investments) | 3.7 |
|  | 100 |

---

------

**COHEN & STEERS ALTERNATIVE INCOME FUND, INC.** 

NOTES TO SCHEDULE OF INVESTMENTS (Unaudited)

**Note 1. Portfolio Valuation** 

Investments in securities that are listed on the New York Stock Exchange (NYSE) are valued, except as indicated below, at the last sale price reflected at the close of the NYSE on the business day as of which such value is being determined. If there has been no sale on such day, the securities are valued at the mean of the closing bid and ask prices on such day or, if no ask price is available, at the bid price. Forward foreign currency exchange contracts are valued daily at the prevailing forward exchange rate. Exchange traded options are valued at their last sale price as of the close of options trading on applicable exchanges on the valuation date. In the absence of a last sale price on such day, options are valued at the average of the quoted bid and ask prices as of the close of business. Over-the-counter (OTC) options are valued based upon prices provided by a third-party pricing service or counterparty.

Securities not listed on the NYSE but listed on other domestic or foreign securities exchanges (including NASDAQ) are valued in a similar manner. Securities traded on more than one securities exchange are valued at the last sale price reflected at the close of the exchange representing the principal market for such securities on the business day as of which such value is being determined. If after the close of a foreign market, but prior to the close of business on the day the securities are being valued, market conditions change significantly, certain non-U.S. equity holdings may be fair valued pursuant to procedures established by the Board of Directors.

Readily marketable securities traded in the OTC market, including listed securities whose primary market is believed by Cohen & Steers Capital Management, Inc. (the investment advisor) to be OTC, are valued on the basis of prices provided by a third-party pricing service or third-party broker-dealers when such prices are believed by the investment advisor, pursuant to delegation by the Board of Directors, to reflect the fair value of such securities.

Fixed-income securities are valued on the basis of prices provided by a third-party pricing service or third-party broker-dealers when such prices are believed by the investment advisor, pursuant to delegation by the Board of Directors, to reflect the fair value of such securities. The pricing services or broker-dealers use multiple valuation techniques to determine fair value. In instances where sufficient market activity exists, the pricing services or broker-dealers may utilize a market-based approach through which quotes from market makers are used to determine fair value. In instances where sufficient market activity may not exist or is limited, the pricing services or broker-dealers also utilize proprietary valuation models which may consider market transactions in comparable securities and the various relationships between securities in determining fair value and/or characteristics such as benchmark yield curves, option-adjusted spreads, credit spreads, estimated default rates, coupon rates, anticipated timing of principal repayments, underlying collateral, and other unique security features which are then used to calculate the fair values.

Short-term debt securities with a maturity date of 60 days or less are valued at amortized cost, which approximates fair value. Investments in open-end mutual funds are valued at net asset value (NAV).

The Board of Directors has designated the investment advisor as the Fund's "Valuation Designee" under Rule 2a-5 under the 1940 Act. As Valuation Designee, the investment advisor is authorized to make fair valuation determinations, subject to the oversight of the Board of Directors. The investment advisor has established a valuation committee (Valuation Committee) to administer, implement and oversee the fair valuation process according to the policies and procedures approved annually by the Board of Directors. Among other things, these procedures allow the Fund to utilize independent pricing services, quotations from securities and financial instrument dealers and other market sources to determine fair value.

Securities for which market prices are unavailable, or securities for which the investment advisor determines that the bid and/or ask price or a counterparty valuation does not reflect market value, will be valued at fair value, as determined in good faith by the Valuation Committee, pursuant to procedures approved by the Fund's Board of Directors. Circumstances in which market prices may be unavailable include, but are not limited to, when trading in a security is suspended, the exchange on which the security is traded is subject to an unscheduled close or disruption or material events occur after the close of the exchange on which the security is principally traded. In these circumstances, the Fund determines fair value in a manner that fairly reflects the market value of the security on the valuation date based on consideration of any information or factors it deems appropriate. These may include, but are not limited to, recent transactions in comparable securities, information relating to the specific security and developments in the markets.

------

**COHEN & STEERS ALTERNATIVE INCOME FUND, INC.** 

NOTES TO SCHEDULE OF INVESTMENTS (Unaudited) (Continued)

Foreign equity fair value pricing procedures utilized by the Fund may cause certain non-U.S. equity holdings to be fair valued on the basis of fair value factors provided by a pricing service to reflect any significant market movements between the time the Fund values such securities and the earlier closing of foreign markets.

The Fund's use of fair value pricing may cause the NAV of Fund shares to differ from the NAV that would be calculated using market quotations. Fair value pricing involves subjective judgments and it is possible that the fair value determined for a security may be materially different than the value that could be realized upon the sale of that security.

Fair value is defined as the price that the Fund would expect to receive upon the sale of an investment or expect to pay to transfer a liability in an orderly transaction with an independent buyer in the principal market or, in the absence of a principal market, the most advantageous market for the investment or liability. The hierarchy of inputs that are used in determining the fair value of the Fund's investments is summarized below.

&nbsp;&nbsp;&nbsp;&nbsp;• Level 1—quoted prices in active markets for identical investments

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

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

The inputs or methodology used for valuing investments may or may not be an indication of the risk associated with those investments. Changes in valuation techniques may result in transfers into or out of an assigned level within the disclosure hierarchy.

The following is a summary of the inputs used as of January 31, 2023 in valuing the Fund's investments carried at value:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Quoted Prices in<br>Active Markets<br>for Identical<br>Investments<br>(Level 1)** | **Other<br>Significant<br>Observable<br>Inputs<br>(Level 2)** | **Significant<br>Unobservable<br>Inputs<br>(Level 3)** | **Total** |
|  Closed-End Funds | $802138 | $— | $— | $802138 |
|  Common Stock: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Airports—Foreign | 327570 | 602373 |  | 929943 |
| &nbsp;&nbsp;&nbsp;&nbsp; Communications | 2642440 | 1198207 |  | 3840647 |
| &nbsp;&nbsp;&nbsp;&nbsp; Comsumer Staples—Foreign |  | 256911 |  | 256911 |
| &nbsp;&nbsp;&nbsp;&nbsp; Electric—Foreign | 254828 | 1178003 |  | 1432831 |
| &nbsp;&nbsp;&nbsp;&nbsp; Energy | 477227 | 381188 |  | 858415 |
| &nbsp;&nbsp;&nbsp;&nbsp; Infrastructure—Foreign |  | 345712 |  | 345712 |
| &nbsp;&nbsp;&nbsp;&nbsp; Marine Ports—Foreign | 207977 | 67516 |  | 275493 |
| &nbsp;&nbsp;&nbsp;&nbsp; Materials | 527061 | 1072413 |  | 1599474 |
| &nbsp;&nbsp;&nbsp;&nbsp; Railways—Foreign | 125104 | 453264 |  | 578368 |
| &nbsp;&nbsp;&nbsp;&nbsp; Real Estate | 8484384 | 4405079 |  | 12889463 |
| &nbsp;&nbsp;&nbsp;&nbsp; Toll Roads—Foreign |  | 1686944 |  | 1686944 |
| &nbsp;&nbsp;&nbsp;&nbsp; Utilities | 3728802 | 971589 |  | 4700391 |
| &nbsp;&nbsp;&nbsp;&nbsp; Other Industries | 6914497 |  |  | 6914497 |
|  Exchange-Traded Funds | 549339 |  |  | 549339 |
|  Master Limited Partnerships and Related Companies | 119248 |  |  | 119248 |
|  Preferred Securities—$25 Par Value | 6254677 |  |  | 6254677 |
|  Preferred Securities—Capital Securities |  | 28695230 |  | 28695230 |
|  Corporate Bonds |  | 219018 |  | 219018 |
|  Short-Term Investments |  | 899321 |  | 899321 |
| &nbsp;&nbsp;&nbsp;&nbsp; Total Investments in Securities(a) | $31415292 | $42432768 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | $73848060 |
|  Forward Foreign Currency Exchange Contracts | $— | $2023 | $— | $2023 |
| &nbsp;&nbsp;&nbsp;&nbsp; Total Derivative Assets(a) | $— | $2023 | $— | $2023 |
|  Forward Foreign Currency Exchange Contracts | $— | $(36491) | $— | $(36491) |
|  Written Option Contracts |  | (60970) |  | (60970) |
| &nbsp;&nbsp;&nbsp;&nbsp; Total Derivative Liabilities(a) | $— | $(97461) | $— | $(97461) |

---

------

(a) Portfolio holdings are disclosed individually on the Schedule of Investments.

------

**COHEN & STEERS ALTERNATIVE INCOME FUND, INC.** 

NOTES TO SCHEDULE OF INVESTMENTS (Unaudited) (Continued)

**Note 2. Derivative Investments** 

*Forward Foreign Currency Exchange Contracts:* The Fund enters into forward foreign currency exchange contracts to hedge the currency exposure associated with certain of its non-U.S. dollar-denominated securities. A forward foreign currency exchange contract is a commitment between two parties to purchase or sell foreign currency at a set price on a future date. The market value of a forward foreign currency exchange contract fluctuates with changes in foreign currency exchange rates. These contracts are marked-to-market daily and the change in value is recorded by the Fund as unrealized appreciation and/or depreciation on forward foreign currency exchange contracts. Realized gains or losses equal to the difference between the value of the contract at the time it was opened and the value at the time it was closed are included in net realized gain or loss on forward foreign currency exchange contracts. For federal income tax purposes, the Fund has made an election to treat gains and losses from forward foreign currency exchange contracts as capital gains and losses.

Forward foreign currency exchange contracts involve elements of market risk in excess of the amounts reflected on the Schedule of Investments. The Fund bears the risk of an unfavorable change in the foreign exchange rate underlying the contract. Risks may also arise upon entering these contracts from the potential inability of the counterparties to meet the terms of their contracts. In connection with these contracts, securities may be identified as collateral in accordance with the terms of the respective contracts.

*Option Contracts:* The Fund may purchase and write exchange-listed and OTC put or call options on securities, stock indices and other financial instruments for hedging purposes, to enhance portfolio returns and/or reduce overall volatility.

When the Fund writes (sells) an option, an amount equal to the premium received by the Fund is recorded as a liability. The amount of the liability is subsequently marked-to-market to reflect the current market value of the option written. When an option expires, the Fund realizes a gain on the option to the extent of the premium received. Premiums received from writing options which are exercised or closed are added to or offset against the proceeds or amount paid on the transaction to determine the realized gain or loss. If a put option on a security is exercised, the premium reduces the cost basis of the security purchased by the Fund. If a call option is exercised, the premium is added to the proceeds of the security sold to determine the realized gain or loss. The Fund, as writer of an option, bears the market risk of an unfavorable change in the price of the underlying investment. Other risks include the possibility of an illiquid options market or the inability of the counterparties to fulfill their obligations under the contracts.

Put and call options purchased are accounted for in the same manner as portfolio securities. Premiums paid for purchasing options which expire are treated as realized losses. Premiums paid for purchasing options which are exercised or closed are added to the amounts paid or offset against the proceeds on the underlying investment transaction to determine the realized gain or loss when the underlying transaction is executed. The risk associated with purchasing an option is that the Fund pays a premium whether or not the option is exercised. Additionally, the Fund bears the risk of loss of the premium and change in market value should the counterparty not perform under the contract.

------

**COHEN & STEERS ALTERNATIVE INCOME FUND, INC.** 

NOTES TO SCHEDULE OF INVESTMENTS (Unaudited) (Continued)

*Interest Rate Swaption Contracts:* The Fund may write or purchase interest rate swaptions, which are options to enter into a pre-defined swap agreement at a specified date in the future. The writer of the swaption becomes the counterparty to the swap if the buyer exercises the swaption. The interest rate swaption agreement will specify whether the buyer of the swaption will be a fixed-rate receiver or a fixed-rate payer upon exercise.

At January 31, 2023, the Fund did not have any interest rate swaption contracts outstanding.

*Binary Option Contracts:* The Fund may write or purchase binary options, which are options in which the payout depends on whether the price of a particular asset will rise above or fall below a specified level. When the binary option expires, the buyer receives either a pre-determined amount of cash or nothing at all.

At January 31, 2023, the Fund did not have any binary option contracts outstanding.

The following summarizes the volume of the Fund's option contracts and forward foreign currency exchange contracts activity for the three months ended January 31, 2023:

---

| | | | |
|:---|:---|:---|:---|
|  | **Purchased Option<br>Contracts(a)(b)** | **Written Option<br>Contracts(a)(b)** | **Forward Foreign<br>Currency Exchange<br>Contracts** |
|  Average Notional Amount | $632000 | $3350117 | $1526654 |

---

------

(a) Average notional amounts represent the average for all months in which the Fund had option contracts
outstanding at month end. For the period, this represents one month for purchased option contracts and three months for written option contracts.

(b) Notional amount for swaption contracts represents the notional amount of the underlying swap contract.
Notional amount for binary option contracts represents the nominal payout amount. Notional amount for all other option contracts is calculated using the number of contracts multiplied by notional contract size multiplied by the underlying price.

------

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** Cohen & Steers Alternative Income Fund, Inc.

- **b. Investment Company Act file number:** 811-21668

- **c. CIK number of Registrant:** 0001307144

- **d. LEI of Registrant:** 549300INNVESYCL5LK20

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

  - **Street Address 1:** 280 PARK AVENUE

  - **City:** NEW YORK

  - **State:** NY

  - **Foreign country:** US

  - **Zip / Postal Code:** 10017

  - **Telephone number:** 212-832-3232

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

- **a. Name of Series:** Cohen & Steers Alternative Income Fund, Inc.

- **b. EDGAR series identifier (if any):** S000001230

- **c. LEI of Series:** 549300INNVESYCL5LK20

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

- **a. Date of fiscal year-end:** 2023-10-31

- **b. Date as of which information is reported:** 2023-01-31

**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:** $74820880.34

**Total Liabilities:** $974374.36

**Net Assets:** $73846505.98

**Delayed Delivery Securities:** $109145.05

**Cash Not Reported:** $112225.53

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** -23.51000000 | **1-Year:** -1161.44000000 | **5-Year:** -3526.68000000 | **10-Year:** -3753.25000000 | **30-Year:** -3399.12000000

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

- **3-Month:** -29.20000000 | **1-Year:** -1146.30000000 | **5-Year:** -2875.34000000 | **10-Year:** -3890.14000000 | **30-Year:** -5180.98000000

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000146549 | 5.61%                | -1.86%               | 7.03%                |
| Class ID C000146550 | 5.64%                | -1.81%               | 6.97%                |
| Class ID C000003344 | 5.53%                | -1.85%               | 7.06%                |
| Class ID C000003345 | 5.53%                | -1.82%               | 6.86%                |
| Class ID C000003346 | 5.55%                | -1.72%               | 6.97%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-143791.31              | $3680273.48                                |
| Month 2  | $-399308.75              | $-1200767.17                               |
| Month 3  | $-300465.19              | $5062549.46                                |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Goldman Sachs International                           | HYDRO ONE LTD                                         | CUSIP: 000000000<br>LEI: W22LROWP2IHZNBB6K528 | N/A              | DE               |  | CA        |     -2046 | NC      | $-525.37      | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| TELEPHONE & DATA SYS                                  | Telephone and Data Systems Inc                        | CUSIP: 879433761<br>LEI: N/A                  | Long             | EP               | CORP              | US        |      8525 | NS      | $147653.00    | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Goldman Sachs International                           | PUBLIC STORAGE                                        | CUSIP: 000000000<br>LEI: W22LROWP2IHZNBB6K528 | N/A              | DE               |  | US        |      -304 | NC      | $-2338.25     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| COMERICA INC                                          | Comerica Inc                                          | CUSIP: 200340AU1<br>LEI: I9Q57JVPWHHZ3ZGBW498 | Long             | DBT              | CORP              | US        |     73000 | PA      | $71747.01     | 0.10%             | 2025-07-01      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| TC ENERGY CORP                                        | TC Energy Corp                                        | CUSIP: 87807B859<br>LEI: 549300UGKOFV2IWJJG27 | Long             | EP               | CORP              | CA        |      3054 | NS      | $40328.27     | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| WELLS FARGO & COMPANY                                 | Wells Fargo & Co                                      | CUSIP: 949746RN3<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | DBT              | CORP              | US        |    172000 | PA      | $171604.40    | 0.23%             | 2025-06-15      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| Great Portland Estates PLC                            | Great Portland Estates PLC                            | CUSIP: 000000000<br>LEI: 213800JMEDD2Q4N1MC42 | Long             | EC               |  | GB        |      5563 | NS      | $39058.26     | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| LEG Immobilien SE                                     | LEG Immobilien SE                                     | CUSIP: 000000000<br>LEI: 391200SO40AKONBO0Z96 | Long             | EC               | CORP              | DE        |      2495 | NS      | $195044.33    | 0.26%             |  |  |  | No            |                  2 | On Loan: No      |
| CREDIT SUISSE GROUP AG                                | Credit Suisse Group AG                                | CUSIP: 225401AL2<br>LEI: 549300506SI9CRFV9Z86 | Long             | DBT              | CORP              | CH        |    400000 | PA      | $325000.00    | 0.44%             | 2026-08-21      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| TRANSCANADA TRUST                                     | Transcanada Trust                                     | CUSIP: 89356BAE8<br>LEI: 549300Y0MFCAXLBWUV51 | Long             | DBT              | CORP              | CA        |    283000 | PA      | $256453.60    | 0.35%             | 2079-09-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Goldman Sachs International                           | NATIONAL GRID PLC                                     | CUSIP: 000000000<br>LEI: W22LROWP2IHZNBB6K528 | N/A              | DE               |  | GB        |    -15517 | NC      | $-3490.00     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Transcanada Trust                                     | Transcanada Trust                                     | CUSIP: 89356BAA6<br>LEI: 549300Y0MFCAXLBWUV51 | Long             | DBT              | CORP              | CA        |    175000 | PA      | $168867.38    | 0.23%             | 2075-05-20      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| ALGONQUIN PWR & UTILITY                               | Algonquin Power & Utilities Corp                      | CUSIP: 015857709<br>LEI: 549300K5VIUTJXQL7X75 | Long             | EP               | CORP              | CA        |      7210 | NS      | $179889.50    | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| AMERICAN EXPRESS CO                                   | American Express Co                                   | CUSIP: 025816CH0<br>LEI: R4PP93JZOLY261QX3811 | Long             | DBT              | CORP              | US        |    147000 | PA      | $130433.07    | 0.18%             | 2026-09-15      | Fixed         | 3.55%                 | No            |                  2 | On Loan: No      |
| Societe Generale                                      | Societe Generale SA                                   | CUSIP: 83367TBU2<br>LEI: O2RNE8IBXP4R0TD8PU41 | Long             | DBT              | CORP              | FR        |    200000 | PA      | $186741.22    | 0.25%             | 2028-04-06      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| Wihlborgs Fastigheter AB                              | Wihlborgs Fastigheter AB                              | CUSIP: 000000000<br>LEI: 549300RC1YDJPITF8X06 | Long             | EC               | CORP              | SE        |      3190 | NS      | $26263.65     | 0.04%             |  |  |  | No            |                  2 | On Loan: No      |
| BANCO SANTANDER SA                                    | Banco Santander SA                                    | CUSIP: 05971KAH2<br>LEI: 5493006QMFDDMYWIAM13 | Long             | DBT              | CORP              | ES        |    200000 | PA      | $174033.66    | 0.24%             | 2026-11-12      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| BP CAPITAL MARKETS PLC                                | BP Capital Markets PLC                                | CUSIP: 05565QDV7<br>LEI: 549300CRVT18MXX0AG93 | Long             | DBT              | CORP              | GB        |    405000 | PA      | $379434.38    | 0.51%             | 2030-03-22      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| Welltower Inc                                         | Welltower Inc                                         | CUSIP: 95040Q104<br>LEI: T6IZ0MBEG5ACZDTR7D06 | Long             | EC               |  | US        |     10062 | NS      | $755052.48    | 1.02%             |  |  |  | No            |                  1 | On Loan: No      |
| NEXTERA ENERGY CAPITAL                                | NextEra Energy Capital Holdings Inc                   | CUSIP: 65339KBK5<br>LEI: UMI46YPGBLUE4VGNNT48 | Long             | DBT              | CORP              | US        |     60000 | PA      | $57325.95     | 0.08%             | 2079-05-01      | Fixed         | 5.65%                 | No            |                  2 | On Loan: No      |
| ING GROEP NV                                          | ING Groep NV                                          | CUSIP: 000000000<br>LEI: 549300NYKK9MWM7GGW15 | Long             | DBT              | CORP              | NL        |    400000 | PA      | $335463.60    | 0.45%             | 2029-05-16      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| ING GROEP NV                                          | ING Groep NV                                          | CUSIP: 456837AZ6<br>LEI: 549300NYKK9MWM7GGW15 | Long             | DBT              | CORP              | NL        |    200000 | PA      | $151238.38    | 0.20%             | 2031-05-16      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| Grupo Aeroportuario del Pacifico SAB de CV            | Grupo Aeroportuario del Pacifico SAB de CV            | CUSIP: 000000000<br>LEI: 4469000001BZ368XFI90 | Long             | EC               | CORP              | MX        |      5774 | NS      | $99449.37     | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| LXI REIT Plc                                          | LXI REIT Plc                                          | CUSIP: 000000000<br>LEI: 2138008YZGXOKAXQVI45 | Long             | EC               |  | GB        |     23631 | NS      | $32892.84     | 0.04%             |  |  |  | No            |                  2 | On Loan: No      |
| SOCIETE GENERALE                                      | Societe Generale SA                                   | CUSIP: 83370RAA6<br>LEI: O2RNE8IBXP4R0TD8PU41 | Long             | DBT              | CORP              | FR        |    200000 | PA      | $172485.90    | 0.23%             | 2030-11-18      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| Aegon NV                                              | Aegon NV                                              | CUSIP: 007924AJ2<br>LEI: O4QK7KMMK83ITNTHUG69 | Long             | DBT              | CORP              | NL        |    200000 | PA      | $191035.79    | 0.26%             | 2048-04-11      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| DEUTSCHE BANK AG                                      | Deutsche Bank AG                                      | CUSIP: 000000000<br>LEI: 7LTWFZYICNSX8D621K86 | Long             | DBT              | CORP              | DE        |    200000 | PA      | $233220.49    | 0.32%             | 2027-12-01      | Fixed         | 10.00%                | No            |                  2 | On Loan: No      |
| Highwoods Properties Inc                              | Highwoods Properties Inc                              | CUSIP: 431284108<br>LEI: ZIIGTYKL9T0X3HLTDX53 | Long             | EC               |  | US        |      6236 | NS      | $189387.32    | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Realty Income Corp                                    | Realty Income Corp                                    | CUSIP: 756109104<br>LEI: 549300CUWDAUZSH43859 | Long             | EC               |  | US        |      4872 | NS      | $330467.76    | 0.45%             |  |  |  | No            |                  1 | On Loan: No      |
| PNC FINANCIAL SERVICES                                | PNC Financial Services Group Inc/The                  | CUSIP: 693475BF1<br>LEI: CFGNEKW0P8842LEUIA51 | Long             | DBT              | CORP              | US        |    182000 | PA      | $182509.60    | 0.25%             | 2027-09-15      | Fixed         | 6.20%                 | No            |                  2 | On Loan: No      |
| CITIGROUP INC                                         | Citigroup Inc                                         | CUSIP: 172967MV0<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |    307000 | PA      | $281027.80    | 0.38%             | 2026-02-18      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| Zhejiang Expressway Co Ltd                            | Zhejiang Expressway Co Ltd                            | CUSIP: 000000000<br>LEI: 213800X1ZRKM85U9H438 | Long             | EC               | CORP              | CN        |    150000 | NS      | $129529.32    | 0.18%             |  |  |  | No            |                  2 | On Loan: No      |
| Bank of America Corp                                  | Bank of America Corp                                  | CUSIP: 060505EN0<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |    205000 | PA      | $205594.50    | 0.28%             | 2025-03-17      | Fixed         | 6.10%                 | No            |                  2 | On Loan: No      |
| Catena AB                                             | Catena AB                                             | CUSIP: 000000000<br>LEI: 549300EMLM7AH5LDLY65 | Long             | EC               | CORP              | SE        |      1951 | NS      | $81622.06     | 0.11%             |  |  |  | No            |                  2 | On Loan: No      |
| MORGAN STANLEY                                        | Morgan Stanley                                        | CUSIP: 61762V853<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | EP               | CORP              | US        |      4021 | NS      | $104706.84    | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| BROOKFIELD INFRA FIN ULC                              | Brookfield Infrastructure Finance ULC                 | CUSIP: 11276B109<br>LEI: N/A                  | Long             | EP               | CORP              | CA        |      1861 | NS      | $37480.54     | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Sirius Real Estate Ltd                                | Sirius Real Estate Ltd                                | CUSIP: 000000000<br>LEI: 213800NURUF5W8QSK566 | Long             | EC               | CORP              | GG        |     53113 | NS      | $55330.89     | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| EDISON INTERNATIONAL                                  | Edison International                                  | CUSIP: 281020AS6<br>LEI: 549300I7ROF15MAEVP56 | Long             | DBT              | CORP              | US        |    203000 | PA      | $190146.18    | 0.26%             | 2026-03-15      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS GROUP INC                               | Goldman Sachs Group Inc/The                           | CUSIP: 38141GYU2<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | DBT              | CORP              | US        |     42000 | PA      | $37410.62     | 0.05%             | 2026-11-10      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| CITIGROUP INC                                         | Citigroup Inc                                         | CUSIP: 172967MG3<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |     79000 | PA      | $75642.50     | 0.10%             | 2024-09-12      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Aegon NV                                              | Aegon NV                                              | CUSIP: 000000000<br>LEI: O4QK7KMMK83ITNTHUG69 | Long             | DBT              | CORP              | NL        |    200000 | PA      | $207104.31    | 0.28%             | 2029-04-15      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| EQUITABLE HOLDINGS INC                                | Equitable Holdings Inc                                | CUSIP: 29452E200<br>LEI: 549300FIBAKMNHPZ4009 | Long             | EP               | CORP              | US        |      1004 | NS      | $22710.48     | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Qube Holdings Ltd                                     | Qube Holdings Ltd                                     | CUSIP: 000000000<br>LEI: 391200RT2MUFEO3RFW25 | Long             | EC               | CORP              | AU        |    127463 | NS      | $277165.35    | 0.38%             |  |  |  | No            |                  2 | On Loan: No      |
| HSBC HOLDINGS PLC                                     | HSBC Holdings PLC                                     | CUSIP: 404280CQ0<br>LEI: MLU0ZO3ML4LN2LL2TL39 | Long             | DBT              | CORP              | GB        |    200000 | PA      | $170050.00    | 0.23%             | 2031-03-09      | Fixed         | 4.70%                 | No            |                  2 | On Loan: No      |
| Enbridge Inc                                          | Enbridge Inc                                          | CUSIP: 29250NAW5<br>LEI: 98TPTUM4IVMFCZBCUR27 | Long             | DBT              | CORP              | CA        |     80000 | PA      | $76203.98     | 0.10%             | 2078-03-01      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| NextEra Energy Inc                                    | NextEra Energy Inc                                    | CUSIP: 65339F101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      1048 | NS      | $78212.24     | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| USB Capital IX                                        | USB Capital IX                                        | CUSIP: 91731KAA8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     34000 | PA      | $28181.17     | 0.04%             | 2023-03-03      | Variable      | 5.81%                 | No            |                  2 | On Loan: No      |
| UDR Inc                                               | UDR Inc                                               | CUSIP: 902653104<br>LEI: P3CH2EG5X6Z1XWU1OO74 | Long             | EC               |  | US        |      3920 | NS      | $166952.80    | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| MARKEL CORP                                           | Markel Corp                                           | CUSIP: 570535AW4<br>LEI: 549300SCNO12JLWIK605 | Long             | DBT              | CORP              | US        |     55000 | PA      | $54931.25     | 0.07%             | 2025-06-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Hang Lung Properties Ltd                              | Hang Lung Properties Ltd                              | CUSIP: 000000000<br>LEI: 529900CIVTNMXQT59E61 | Long             | EC               | CORP              | HK        |     54000 | NS      | $101819.43    | 0.14%             |  |  |  | No            |                  2 | On Loan: No      |
| KEYCORP                                               | KeyCorp                                               | CUSIP: 493267843<br>LEI: RKPI3RZGV1V1FJTH5T61 | Long             | EP               | CORP              | US        |      1450 | NS      | $37163.50     | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| CHARLES SCHWAB CORP                                   | Charles Schwab Corp/The                               | CUSIP: 808513BJ3<br>LEI: 549300VSGCJ7E698NM85 | Long             | DBT              | CORP              | US        |    413000 | PA      | $355799.50    | 0.48%             | 2030-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Brown Brothers Harriman & Co.                         | PURCHASED USD / SOLD GBP                              | CUSIP: 000000000<br>LEI: 5493006KMX1VFTPYPW14 | N/A              | DFE              |  | US        |         1 | NC      | $-5222.03     | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| AXIS SPECIALTY FINANCE                                | AXIS Specialty Finance LLC                            | CUSIP: 05463HAC5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     55000 | PA      | $46829.26     | 0.06%             | 2040-01-15      | Fixed         | 4.90%                 | No            |                  2 | On Loan: No      |
| Bank of America Corp                                  | Bank of America Corp                                  | CUSIP: 060505EH3<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |    409000 | PA      | $409768.92    | 0.55%             | 2024-09-05      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| PACWEST BANCORP                                       | PacWest Bancorp                                       | CUSIP: 695263202<br>LEI: 549300YI8VMFO7G36V04 | Long             | EP               | CORP              | US        |      1354 | NS      | $35041.52     | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| INTESA SANPAOLO SPA                                   | Intesa Sanpaolo SpA                                   | CUSIP: 46115HBV8<br>LEI: 2W8N8UU78PMDQKZENC08 | Long             | DBT              | CORP              | IT        |    200000 | PA      | $219018.47    | 0.30%             | 2033-11-21      | Fixed         | 8.25%                 | No            |                  2 | On Loan: No      |
| MetLife Capital Trust IV                              | MetLife Capital Trust IV                              | CUSIP: 591560AA5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    100000 | PA      | $110249.80    | 0.15%             | 2037-12-15      | Fixed         | 7.88%                 | No            |                  2 | On Loan: No      |
| AT&T Inc                                              | AT&T Inc                                              | CUSIP: 00206R300<br>LEI: 549300Z40J86GGSTL398 | Long             | EP               | CORP              | US        |      3809 | NS      | $91454.09     | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| BNP PARIBAS                                           | BNP Paribas SA                                        | CUSIP: 05565AB28<br>LEI: R0MUWSFPU8MPRO8K5P83 | Long             | DBT              | CORP              | FR        |    200000 | PA      | $175500.00    | 0.24%             | 2027-01-12      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| Barclays Bank PLC                                     | Barclays Bank PLC                                     | CUSIP: 06738C828<br>LEI: G5GSEF7VJP5I7OUK5573 | Long             | DBT              | CORP              | GB        |    100000 | PA      | $99754.45     | 0.14%             | 2034-12-15      | Fixed         | 6.28%                 | No            |                  2 | On Loan: No      |
| Daiwa House REIT Investment Corp                      | Daiwa House REIT Investment Corp                      | CUSIP: 000000000<br>LEI: 3538001FWU534P8JMO05 | Long             | EC               |  | JP        |        47 | NS      | $102259.49    | 0.14%             |  |  |  | No            |                  2 | On Loan: No      |
| SVB FINANCIAL GROUP                                   | SVB Financial Group                                   | CUSIP: 78486QAQ4<br>LEI: 549300D2KJ20JMXE7542 | Long             | DBT              | CORP              | US        |    110000 | PA      | $84700.00     | 0.11%             | 2031-11-15      | Fixed         | 4.70%                 | No            |                  2 | On Loan: No      |
| RENAISSANCERE HOLDINGS L                              | RenaissanceRe Holdings Ltd                            | CUSIP: 75968N309<br>LEI: EK6GB9U3U58PDI411C94 | Long             | EP               | CORP              | BM        |      2297 | NS      | $55495.52     | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| LINCOLN NATIONAL CORP                                 | Lincoln National Corp                                 | CUSIP: 534187BR9<br>LEI: EFQMQROEDSNBRIP7LE47 | Long             | DBT              | CORP              | US        |     53000 | PA      | $58697.50     | 0.08%             | 2027-12-01      | Fixed         | 9.25%                 | No            |                  2 | On Loan: No      |
| Goldman Sachs International                           | CSX CORP                                              | CUSIP: 000000000<br>LEI: W22LROWP2IHZNBB6K528 | N/A              | DE               |  | US        |     -1739 | NC      | $-471.58      | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| JPMorgan Chase & Co                                   | JPMorgan Chase & Co                                   | CUSIP: 46625HJQ4<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | DBT              | CORP              | US        |    138000 | PA      | $139477.29    | 0.19%             | 2024-02-01      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| VODAFONE GROUP PLC                                    | Vodafone Group PLC                                    | CUSIP: 92857WBW9<br>LEI: 213800TB53ELEUKM7Q61 | Long             | DBT              | CORP              | GB        |    110000 | PA      | $89199.00     | 0.12%             | 2081-06-04      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| Citigroup Inc                                         | Citigroup Inc                                         | CUSIP: 172967JM4<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |    378000 | PA      | $368842.68    | 0.50%             | 2025-05-15      | Fixed         | 5.95%                 | No            |                  2 | On Loan: No      |
| Grupo Aeroportuario del Sureste SAB de CV             | Grupo Aeroportuario del Sureste SAB de CV             | CUSIP: 000000000<br>LEI: 5299001W7JIDXCUOUC82 | Long             | EC               | CORP              | MX        |      8078 | NS      | $218880.96    | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| Citigroup Inc                                         | Citigroup Inc                                         | CUSIP: 172967KM2<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |    207000 | PA      | $208871.28    | 0.28%             | 2026-08-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| Kenedix Office Investment Corp                        | Kenedix Office Investment Corp                        | CUSIP: 000000000<br>LEI: 353800FFT483NCIHFY42 | Long             | EC               |  | JP        |        21 | NS      | $49886.81     | 0.07%             |  |  |  | No            |                  2 | On Loan: No      |
| Gibson Energy Inc                                     | Gibson Energy Inc                                     | CUSIP: 374825206<br>LEI: 549300WYW5D9I3FR0643 | Long             | EC               | CORP              | CA        |     11927 | NS      | $213611.22    | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| FARM CREDIT BK OF TEXAS                               | Farm Credit Bank of Texas                             | CUSIP: 30767EAD1<br>LEI: V1EBJIOLRNYDHDF63Z33 | Long             | DBT              | USGSE             | US        |    125000 | PA      | $117500.00    | 0.16%             | 2025-09-15      | Fixed         | 5.70%                 | No            |                  2 | On Loan: No      |
| Americold Realty Trust Inc                            | Americold Realty Trust Inc                            | CUSIP: 03064D108<br>LEI: 549300R7N1V5YV8MWH02 | Long             | EC               |  | US        |      8466 | NS      | $265917.06    | 0.36%             |  |  |  | No            |                  1 | On Loan: No      |
| NATWEST GROUP PLC                                     | NatWest Group PLC                                     | CUSIP: 780097BQ3<br>LEI: 2138005O9XJIJN4JPN90 | Long             | DBT              | CORP              | GB        |    200000 | PA      | $191500.00    | 0.26%             | 2025-12-29      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Covivio                                               | Covivio                                               | CUSIP: 000000000<br>LEI: 969500P8M3W2XX376054 | Long             | EC               |  | FR        |       692 | NS      | $47501.90     | 0.06%             |  |  |  | No            |                  2 | On Loan: No      |
| Williams Cos Inc/The                                  | Williams Cos Inc/The                                  | CUSIP: 969457100<br>LEI: D71FAKCBLFS2O0RBPG08 | Long             | EC               | CORP              | US        |      3307 | NS      | $106617.68    | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| BANK OF AMERICA CORP                                  | Bank of America Corp                                  | CUSIP: 06053U601<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | EP               | CORP              | US        |      3679 | NS      | $88811.06     | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Mitsui Fudosan Co Ltd                                 | Mitsui Fudosan Co Ltd                                 | CUSIP: 000000000<br>LEI: 353800ND4ZKNZDYKMF33 | Long             | EC               | CORP              | JP        |     11900 | NS      | $223049.34    | 0.30%             |  |  |  | No            |                  2 | On Loan: No      |
| WELLS FARGO & COMPANY                                 | Wells Fargo & Co                                      | CUSIP: 94988U151<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | EP               | CORP              | US        |     13318 | NS      | $282741.14    | 0.38%             |  |  |  | No            |                  1 | On Loan: No      |
| LANCASHIRE HOLDINGS LTD                               | Lancashire Holdings Ltd                               | CUSIP: 000000000<br>LEI: 5493002UNUYXLHOWF752 | Long             | DBT              | CORP              | BM        |    200000 | PA      | $166674.20    | 0.23%             | 2041-09-18      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| AMERICAN ELECTRIC POWER                               | American Electric Power Co Inc                        | CUSIP: 025537AU5<br>LEI: 1B4S6S7G0TW5EE83BO58 | Long             | DBT              | CORP              | US        |    215000 | PA      | $184511.19    | 0.25%             | 2062-02-15      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| British Land Co PLC/The                               | British Land Co PLC/The                               | CUSIP: 000000000<br>LEI: RV5B68J2GV3QGMRPW209 | Long             | EC               |  | GB        |     14592 | NS      | $79860.15     | 0.11%             |  |  |  | No            |                  2 | On Loan: No      |
| Tidewater Renewables Ltd                              | Tidewater Renewables Ltd                              | CUSIP: 88646L108<br>LEI: 549300NFKJKH4UZKTN61 | Long             | EC               | CORP              | CA        |     10437 | NS      | $88481.73     | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Cheniere Energy Inc                                   | Cheniere Energy Inc                                   | CUSIP: 16411R208<br>LEI: MIHC87W9WTYSYZWV1J40 | Long             | EC               | CORP              | US        |      4092 | NS      | $625216.68    | 0.85%             |  |  |  | No            |                  1 | On Loan: No      |
| ALGONQUIN PWR & UTILITY                               | Algonquin Power & Utilities Corp                      | CUSIP: 015857AH8<br>LEI: 549300K5VIUTJXQL7X75 | Long             | DBT              | CORP              | CA        |    335000 | PA      | $283487.05    | 0.38%             | 2082-01-18      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| ARCH CAPITAL GROUP LTD                                | Arch Capital Group Ltd                                | CUSIP: 03939A404<br>LEI: 549300AYR4P8AFKDCE43 | Long             | EP               | CORP              | BM        |      5784 | NS      | $115622.16    | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| ATHENE HOLDING LTD                                    | Athene Holding Ltd                                    | CUSIP: 04686J507<br>LEI: 549300H316CT32FQXI76 | Long             | EP               | CORP              | BM        |      4652 | NS      | $122766.28    | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| Atmos Energy Corp                                     | Atmos Energy Corp                                     | CUSIP: 049560105<br>LEI: QVLWEGTD2S8GJMO8D383 | Long             | EC               | CORP              | US        |      2595 | NS      | $305016.30    | 0.41%             |  |  |  | No            |                  1 | On Loan: No      |
| Dexus                                                 | Dexus                                                 | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               |  | AU        |     11802 | NS      | $68428.69     | 0.09%             |  |  |  | No            |                  2 | On Loan: No      |
| United Urban Investment Corp                          | United Urban Investment Corp                          | CUSIP: 000000000<br>LEI: 353800GYZWBD7BDCN841 | Long             | EC               |  | JP        |       103 | NS      | $117203.86    | 0.16%             |  |  |  | No            |                  2 | On Loan: No      |
| Goldman Sachs International                           | ESSEX PROPERTY TRUST INC                              | CUSIP: 000000000<br>LEI: W22LROWP2IHZNBB6K528 | N/A              | DE               |  | US        |       -60 | NC      | $-349.13      | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| CubeSmart                                             | CubeSmart                                             | CUSIP: 229663109<br>LEI: N/A                  | Long             | EC               |  | US        |      3958 | NS      | $181236.82    | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| PPL Corp                                              | PPL Corp                                              | CUSIP: 69351T106<br>LEI: 9N3UAJSNOUXFKQLF3V18 | Long             | EC               | CORP              | US        |      8721 | NS      | $258141.60    | 0.35%             |  |  |  | No            |                  1 | On Loan: No      |
| Sun Communities Inc                                   | Sun Communities Inc                                   | CUSIP: 866674104<br>LEI: 549300H5GEOJYN41ZG57 | Long             | EC               |  | US        |      1965 | NS      | $308229.90    | 0.42%             |  |  |  | No            |                  1 | On Loan: No      |
| Exelon Corp                                           | Exelon Corp                                           | CUSIP: 30161N101<br>LEI: 3SOUA6IRML7435B56G12 | Long             | EC               | CORP              | US        |     17627 | NS      | $743683.13    | 1.01%             |  |  |  | No            |                  1 | On Loan: No      |
| State Street Institutional Treasury Money Market Fund | State Street Institutional Treasury Money Market Fund | CUSIP: 857492870<br>LEI: 549300Q3FHSMZ70NLT76 | Long             | STIV             | RF                | US        |    899321 | NS      | $899320.66    | 1.22%             |  |  |  | No            |                  2 | On Loan: No      |
| Merlin Properties Socimi SA                           | Merlin Properties Socimi SA                           | CUSIP: 000000000<br>LEI: 959800L8KD863DP30X04 | Long             | EC               |  | ES        |      9111 | NS      | $89038.85     | 0.12%             |  |  |  | No            |                  2 | On Loan: No      |
| Bank of America Corp                                  | Bank of America Corp                                  | CUSIP: 060505EL4<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |    140000 | PA      | $141044.68    | 0.19%             | 2024-10-23      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| WELLS FARGO & COMPANY                                 | Wells Fargo & Co                                      | CUSIP: 94988U656<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | EP               | CORP              | US        |      3752 | NS      | $92674.40     | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Japan Hotel REIT Investment Corp                      | Japan Hotel REIT Investment Corp                      | CUSIP: 000000000<br>LEI: 353800L8KG849FP1JI68 | Long             | EC               |  | JP        |       106 | NS      | $67170.73     | 0.09%             |  |  |  | No            |                  2 | On Loan: No      |
| Goldman Sachs International                           | AGNICO EAGLE MINES LTD                                | CUSIP: 000000000<br>LEI: W22LROWP2IHZNBB6K528 | N/A              | DE               |  | CA        |     -2055 | NC      | $-1651.85     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Intesa Sanpaolo SpA                                   | Intesa Sanpaolo SpA                                   | CUSIP: 46115HAU1<br>LEI: 2W8N8UU78PMDQKZENC08 | Long             | DBT              | CORP              | IT        |    400000 | PA      | $378598.83    | 0.51%             | 2025-09-17      | Fixed         | 7.70%                 | No            |                  2 | On Loan: No      |
| BANCO DE SABADELL SA                                  | Banco de Sabadell SA                                  | CUSIP: 000000000<br>LEI: SI5RG2M0WQQLZCXKRM20 | Long             | DBT              | CORP              | ES        |    200000 | PA      | $226643.66    | 0.31%             | 2028-07-18      | Fixed         | 9.38%                 | No            |                  2 | On Loan: No      |
| Goldman Sachs International                           | ONEOK INC                                             | CUSIP: 000000000<br>LEI: W22LROWP2IHZNBB6K528 | N/A              | DE               |  | US        |     -2145 | NC      | $-2071.82     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| ENBRIDGE INC                                          | Enbridge Inc                                          | CUSIP: 29250N717<br>LEI: 98TPTUM4IVMFCZBCUR27 | Long             | EP               | CORP              | CA        |      2156 | NS      | $48445.32     | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Prologis Inc                                          | Prologis Inc                                          | CUSIP: 74340W103<br>LEI: 529900DFH19P073LZ636 | Long             | EC               |  | US        |      8949 | NS      | $1156926.72   | 1.57%             |  |  |  | No            |                  1 | On Loan: No      |
| SBL HOLDINGS INC                                      | SBL Holdings Inc                                      | CUSIP: 78397DAA6<br>LEI: 635400MJW3QDSBJRKQ59 | Long             | DBT              | CORP              | US        |    140000 | PA      | $116224.70    | 0.16%             | 2025-05-13      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| Goldman Sachs International                           | CANADIAN PACIFIC RAILWAY LTD                          | CUSIP: 000000000<br>LEI: W22LROWP2IHZNBB6K528 | N/A              | DE               |  | CA        |      -341 | NC      | $-530.34      | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| ABANCA CORP BANCARIA SA                               | Abanca Corp Bancaria SA                               | CUSIP: 000000000<br>LEI: 54930056IRBXK0Q1FP96 | Long             | DBT              | CORP              | ES        |    200000 | PA      | $200306.36    | 0.27%             | 2026-01-20      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| ENSTAR FINANCE LLC                                    | Enstar Finance LLC                                    | CUSIP: 29360AAB6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    145000 | PA      | $119785.19    | 0.16%             | 2042-01-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Enbridge Inc                                          | Enbridge Inc                                          | CUSIP: 29250N105<br>LEI: 98TPTUM4IVMFCZBCUR27 | Long             | EC               | CORP              | CA        |     25079 | NS      | $1026871.53   | 1.39%             |  |  |  | No            |                  1 | On Loan: No      |
| UBS GROUP AG                                          | UBS Group AG                                          | CUSIP: 000000000<br>LEI: 549300SZJ9VS8SGXAN81 | Long             | DBT              | CORP              | CH        |    200000 | PA      | $190261.00    | 0.26%             | 2026-07-29      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| TRUIST FINANCIAL CORP                                 | Truist Financial Corp                                 | CUSIP: 89832QAE9<br>LEI: 549300DRQQI75D2JP341 | Long             | DBT              | CORP              | US        |     71000 | PA      | $70467.50     | 0.10%             | 2025-09-01      | Fixed         | 4.95%                 | No            |                  2 | On Loan: No      |
| BANK OF AMERICA CORP                                  | Bank of America Corp                                  | CUSIP: 06055H806<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | EP               | CORP              | US        |      8969 | NS      | $173550.15    | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| Sumitomo Realty & Development Co Ltd                  | Sumitomo Realty & Development Co Ltd                  | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | JP        |      7157 | NS      | $174467.10    | 0.24%             |  |  |  | No            |                  2 | On Loan: No      |
| Goldman Sachs International                           | CONSOLIDATED EDISON INC                               | CUSIP: 000000000<br>LEI: W22LROWP2IHZNBB6K528 | N/A              | DE               |  | US        |      -775 | NC      | $-2010.08     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| QBE INSURANCE GROUP LTD                               | QBE Insurance Group Ltd                               | CUSIP: 74728GAE0<br>LEI: 549300D2FBW76FPUSG65 | Long             | DBT              | CORP              | AU        |    400000 | PA      | $395000.00    | 0.53%             | 2025-05-12      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| DT Midstream Inc                                      | DT Midstream Inc                                      | CUSIP: 23345M107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      5157 | NS      | $281881.62    | 0.38%             |  |  |  | No            |                  1 | On Loan: No      |
| JULIUS BAER GROUP LTD                                 | Julius Baer Group Ltd                                 | CUSIP: 000000000<br>LEI: 5299007MF0604ZGJER92 | Long             | DBT              | CORP              | CH        |    400000 | PA      | $400000.80    | 0.54%             | 2027-06-09      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| Goodman Group                                         | Goodman Group                                         | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               |  | AU        |      7923 | NS      | $113010.30    | 0.15%             |  |  |  | No            |                  2 | On Loan: No      |
| Santos Brasil Participacoes SA                        | Santos Brasil Participacoes SA                        | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | BR        |    119836 | NS      | $207977.30    | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| BROOKFIELD BRP HOLDINGS                               | Brookfield BRP Holdings Canada Inc                    | CUSIP: 11259P109<br>LEI: 549300NSPD7QJ50GZW26 | Long             | EP               | CORP              | CA        |      2618 | NS      | $46521.86     | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| HARTFORD FINL SVCS GRP                                | Hartford Financial Services Group Inc/The             | CUSIP: 416515BC7<br>LEI: IU7C3FTM7Y3BQM112U94 | Long             | DBT              | CORP              | US        |    100000 | PA      | $85775.00     | 0.12%             | 2047-02-12      | Floating      | 6.73%                 | No            |                  2 | On Loan: No      |
| US Bancorp                                            | US Bancorp                                            | CUSIP: 902973AZ9<br>LEI: N1GZ7BBF3NP8GI976H15 | Long             | DBT              | CORP              | US        |     35000 | PA      | $32573.19     | 0.04%             | 2027-04-15      | Fixed         | 5.30%                 | No            |                  2 | On Loan: No      |
| Goldman Sachs International                           | SIMON PROPERTY GROUP INC                              | CUSIP: 000000000<br>LEI: W22LROWP2IHZNBB6K528 | N/A              | DE               |  | US        |      -976 | NC      | $-2617.48     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| UNICREDIT SPA                                         | UniCredit SpA                                         | CUSIP: 000000000<br>LEI: 549300TRUWO2CD2G5692 | Long             | DBT              | CORP              | IT        |    200000 | PA      | $198125.00    | 0.27%             | 2024-06-03      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| AXA SA                                                | AXA SA                                                | CUSIP: 054536AC1<br>LEI: F5WCUMTUM4RKZ1MAIE39 | Long             | DBT              | CORP              | FR        |    100000 | PA      | $105178.50    | 0.14%             | 2036-12-14      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| BANK OF AMERICA CORP                                  | Bank of America Corp                                  | CUSIP: 06055H608<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | EP               | CORP              | US        |     15788 | NS      | $299656.24    | 0.41%             |  |  |  | No            |                  1 | On Loan: No      |
| WELLS FARGO & COMPANY                                 | Wells Fargo & Co                                      | CUSIP: 949746TD3<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | DBT              | CORP              | US        |    755000 | PA      | $696487.50    | 0.94%             | 2026-03-15      | Fixed         | 3.90%                 | No            |                  2 | On Loan: No      |
| Xenia Hotels & Resorts Inc                            | Xenia Hotels & Resorts Inc                            | CUSIP: 984017103<br>LEI: 54930075IWIPHF5IQL62 | Long             | EC               |  | US        |     16198 | NS      | $241350.20    | 0.33%             |  |  |  | No            |                  1 | On Loan: No      |
| ENN Energy Holdings Ltd                               | ENN Energy Holdings Ltd                               | CUSIP: 000000000<br>LEI: 549300V7BXPWT6WIPR03 | Long             | EC               | CORP              | KY        |     24900 | NS      | $375161.36    | 0.51%             |  |  |  | No            |                  2 | On Loan: No      |
| Suncor Energy Inc                                     | Suncor Energy Inc                                     | CUSIP: 867224107<br>LEI: 549300W70ZOQDVLCHY06 | Long             | EC               | CORP              | CA        |     13750 | NS      | $477227.46    | 0.65%             |  |  |  | No            |                  1 | On Loan: No      |
| Enel SpA                                              | Enel SpA                                              | CUSIP: 000000000<br>LEI: WOCMU6HCI0OJWNPRZS33 | Long             | EC               | CORP              | IT        |     62992 | NS      | $370904.48    | 0.50%             |  |  |  | No            |                  2 | On Loan: No      |
| PHOENIX GRP HLD PLC                                   | Phoenix Group Holdings PLC                            | CUSIP: 000000000<br>LEI: 2138001P49OLAEU33T68 | Long             | DBT              | CORP              | GB        |    200000 | PA      | $188502.20    | 0.26%             | 2025-01-29      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| Kayne Anderson Energy Infrastructure Fund             | Kayne Anderson Energy Infrastructure Fund             | CUSIP: 486606106<br>LEI: 549300H9ZCLGQEKXQY57 | Long             | EC               | RF                | US        |     48910 | NS      | $444102.80    | 0.60%             |  |  |  | No            |                  1 | On Loan: No      |
| Goldman Sachs International                           | CROWN CASTLE INTERNATIONAL COR                        | CUSIP: 000000000<br>LEI: W22LROWP2IHZNBB6K528 | N/A              | DE               |  | US        |     -1043 | NC      | $-1484.63     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Targa Resources Corp                                  | Targa Resources Corp                                  | CUSIP: 87612G101<br>LEI: 5493003QENHHS261UR94 | Long             | EC               | CORP              | US        |      5880 | NS      | $441117.60    | 0.60%             |  |  |  | No            |                  1 | On Loan: No      |
| American Tower Corp                                   | American Tower Corp                                   | CUSIP: 03027X100<br>LEI: 5493006ORUSIL88JOE18 | Long             | EC               |  | US        |      4919 | NS      | $1098855.41   | 1.49%             |  |  |  | No            |                  1 | On Loan: No      |
| US CELLULAR CORP                                      | United States Cellular Corp                           | CUSIP: 911684801<br>LEI: 549300B164AZXESI6E03 | Long             | EP               | CORP              | US        |      1928 | NS      | $35764.40     | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Advance Residence Investment Corp                     | Advance Residence Investment Corp                     | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               |  | JP        |        40 | NS      | $97710.43     | 0.13%             |  |  |  | No            |                  2 | On Loan: No      |
| Goldman Sachs International                           | SEGRO PLC                                             | CUSIP: 000000000<br>LEI: W22LROWP2IHZNBB6K528 | N/A              | DE               |  | GB        |     -1256 | NC      | $-381.86      | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Pembina Pipeline Corp                                 | Pembina Pipeline Corp                                 | CUSIP: 706327103<br>LEI: 5493002W3L9YICM6FU21 | Long             | EC               | CORP              | CA        |     22021 | NS      | $781339.60    | 1.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Kite Realty Group Trust                               | Kite Realty Group Trust                               | CUSIP: 49803T300<br>LEI: N/A                  | Long             | EC               |  | US        |     15722 | NS      | $341167.40    | 0.46%             |  |  |  | No            |                  1 | On Loan: No      |
| OAKTREE CAPITAL GRP LLC                               | Oaktree Capital Group LLC                             | CUSIP: 674001409<br>LEI: 254900T1ODNFOK2L6090 | Long             | EP               | CORP              | US        |      7222 | NS      | $173111.34    | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| CNP ASSURANCES                                        | CNP Assurances                                        | CUSIP: 000000000<br>LEI: 969500QKVPV2H8UXM738 | Long             | DBT              | CORP              | FR        |    200000 | PA      | $165516.20    | 0.22%             | 2030-10-07      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| Constellation Energy Corp                             | Constellation Energy Corp                             | CUSIP: 21037T109<br>LEI: 549300F8Y20RYGNGV346 | Long             | EC               | CORP              | US        |      1397 | NS      | $119247.92    | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| ALLY FINANCIAL INC                                    | Ally Financial Inc                                    | CUSIP: 02005NBN9<br>LEI: 549300JBN1OSM8YNAI90 | Long             | DBT              | CORP              | US        |    207000 | PA      | $159390.00    | 0.22%             | 2028-05-15      | Fixed         | 4.70%                 | No            |                  2 | On Loan: No      |
| ENBRIDGE INC                                          | Enbridge Inc                                          | CUSIP: 29250NBN4<br>LEI: 98TPTUM4IVMFCZBCUR27 | Long             | DBT              | CORP              | CA        |     92000 | PA      | $92203.66     | 0.12%             | 2083-01-15      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| ALLY FINANCIAL INC                                    | Ally Financial Inc                                    | CUSIP: 02005NBM1<br>LEI: 549300JBN1OSM8YNAI90 | Long             | DBT              | CORP              | US        |     17000 | PA      | $14035.63     | 0.02%             | 2026-05-15      | Fixed         | 4.70%                 | No            |                  2 | On Loan: No      |
| BANK OF AMERICA CORP                                  | Bank of America Corp                                  | CUSIP: 06055HAB9<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |    145000 | PA      | $145507.50    | 0.20%             | 2027-04-27      | Fixed         | 6.12%                 | No            |                  2 | On Loan: No      |
| ILFC E-CAPITAL TRUST II                               | ILFC E-Capital Trust II                               | CUSIP: 44965UAA2<br>LEI: N/A                  | Long             | SN               | CORP              | US        |    110000 | PA      | $73600.23     | 0.10%             | 2065-12-21      | Variable      | 6.54%                 | No            |                  2 | On Loan: No      |
| Capitaland Investment Ltd/Singapore                   | Capitaland Investment Ltd/Singapore                   | CUSIP: 000000000<br>LEI: 254900AT4UQDU7SNXX49 | Long             | EC               | CORP              | SG        |     36700 | NS      | $111186.70    | 0.15%             |  |  |  | No            |                  2 | On Loan: No      |
| SOUTHERN CO                                           | Southern Co/The                                       | CUSIP: 842587DF1<br>LEI: 549300FC3G3YU2FBZD92 | Long             | DBT              | CORP              | US        |    290000 | PA      | $276610.70    | 0.37%             | 2051-01-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| JPMorgan Chase & Co                                   | JPMorgan Chase & Co                                   | CUSIP: 48126HAC4<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | DBT              | CORP              | US        |     55000 | PA      | $54896.88     | 0.07%             | 2024-10-01      | Fixed         | 6.10%                 | No            |                  2 | On Loan: No      |
| Brown Brothers Harriman & Co.                         | PURCHASED USD / SOLD EUR                              | CUSIP: 000000000<br>LEI: 5493006KMX1VFTPYPW14 | N/A              | DFE              |  | US        |         1 | NC      | $-20926.09    | -0.03%            |  |  |  | No            |                  2 | On Loan: No      |
| Power Assets Holdings Ltd                             | Power Assets Holdings Ltd                             | CUSIP: 000000000<br>LEI: 254900JOWYUW1ZX4DF47 | Long             | EC               | CORP              | HK        |     12000 | NS      | $67898.01     | 0.09%             |  |  |  | No            |                  2 | On Loan: No      |
| ATHENE HOLDING LTD                                    | Athene Holding Ltd                                    | CUSIP: 000000000<br>LEI: 549300H316CT32FQXI76 | Long             | EP               | CORP              | BM        |      1595 | NS      | $40624.65     | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| PRUDENTIAL FINANCIAL INC                              | Prudential Financial Inc                              | CUSIP: 744320BJ0<br>LEI: 5PRBRS5FEH7NREC8OR45 | Long             | DBT              | CORP              | US        |    115000 | PA      | $107435.88    | 0.15%             | 2052-03-01      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| Brown Brothers Harriman & Co.                         | PURCHASED USD / SOLD CAD                              | CUSIP: 000000000<br>LEI: 5493006KMX1VFTPYPW14 | N/A              | DFE              |  | US        |         1 | NC      | $-658.90      | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| WELLS FARGO & COMPANY                                 | Wells Fargo & Co                                      | CUSIP: 95002Y400<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | EP               | CORP              | US        |      4772 | NS      | $93101.72     | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Safestore Holdings PLC                                | Safestore Holdings PLC                                | CUSIP: 000000000<br>LEI: 213800WGA3YSJC1YOH73 | Long             | EC               |  | GB        |     11426 | NS      | $142273.03    | 0.19%             |  |  |  | No            |                  2 | On Loan: No      |
| BP CAPITAL MARKETS PLC                                | BP Capital Markets PLC                                | CUSIP: 05565QDU9<br>LEI: 549300CRVT18MXX0AG93 | Long             | DBT              | CORP              | GB        |    290000 | PA      | $280502.50    | 0.38%             | 2025-06-22      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| Goldman Sachs International                           | PROLOGIS INC                                          | CUSIP: 000000000<br>LEI: W22LROWP2IHZNBB6K528 | N/A              | DE               |  | US        |     -1937 | NC      | $-5994.52     | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| Goldman Sachs International                           | BUNGE LTD                                             | CUSIP: 000000000<br>LEI: W22LROWP2IHZNBB6K528 | N/A              | DE               |  | US        |      -875 | NC      | $-1608.50     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Sempra Energy                                         | Sempra Energy                                         | CUSIP: 816851109<br>LEI: PBBKGKLRK5S5C0Y4T545 | Long             | EC               | CORP              | US        |      5810 | NS      | $931517.30    | 1.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Parkway Life Real Estate Investment Trust             | Parkway Life Real Estate Investment Trust             | CUSIP: 000000000<br>LEI: 549300I4DKVD2OF5LW91 | Long             | EC               |  | SG        |     35926 | NS      | $111193.65    | 0.15%             |  |  |  | No            |                  2 | On Loan: No      |
| Crown Castle Inc                                      | Crown Castle Inc                                      | CUSIP: 22822V101<br>LEI: 54930012H97VSM0I2R19 | Long             | EC               |  | US        |      4812 | NS      | $712705.32    | 0.97%             |  |  |  | No            |                  1 | On Loan: No      |
| Wharf Real Estate Investment Co Ltd                   | Wharf Real Estate Investment Co Ltd                   | CUSIP: 000000000<br>LEI: 529900QLPKS8U9QOPB59 | Long             | EC               | CORP              | KY        |     28000 | NS      | $160290.57    | 0.22%             |  |  |  | No            |                  2 | On Loan: No      |
| ENERGY TRANSFER LP                                    | Energy Transfer LP                                    | CUSIP: 29273VAN0<br>LEI: MTLVN9N7JE8MIBIJ1H73 | Long             | DBT              | CORP              | US        |    120000 | PA      | $112845.60    | 0.15%             | 2026-11-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Sun Hung Kai Properties Ltd                           | Sun Hung Kai Properties Ltd                           | CUSIP: 000000000<br>LEI: 529900LUMD393RD3S874 | Long             | EC               | CORP              | HK        |     14500 | NS      | $205633.49    | 0.28%             |  |  |  | No            |                  2 | On Loan: No      |
| JPMorgan Chase & Co                                   | JPMorgan Chase & Co                                   | CUSIP: 46625HJW1<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | DBT              | CORP              | US        |     70000 | PA      | $70700.00     | 0.10%             | 2024-04-30      | Fixed         | 6.12%                 | No            |                  2 | On Loan: No      |
| FIRST HORIZON CORP                                    | First Horizon Corp                                    | CUSIP: 320517402<br>LEI: TF3RXI1ZB1TQ30H9JV10 | Long             | EP               | CORP              | US        |      2115 | NS      | $53932.50     | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| CapitaLand Ascendas REIT                              | CapitaLand Ascendas REIT                              | CUSIP: 000000000<br>LEI: 549300ILIBAEMQZK3L20 | Long             | EC               |  | SG        |     33900 | NS      | $74601.36     | 0.10%             |  |  |  | No            |                  2 | On Loan: No      |
| CREDIT SUISSE GROUP AG                                | Credit Suisse Group AG                                | CUSIP: 225401AX6<br>LEI: 549300506SI9CRFV9Z86 | Long             | DBT              | CORP              | CH        |    200000 | PA      | $194500.00    | 0.26%             | 2027-06-23      | Fixed         | 9.75%                 | No            |                  2 | On Loan: No      |
| Goldman Sachs International                           | P G + E CORP                                          | CUSIP: 000000000<br>LEI: W22LROWP2IHZNBB6K528 | N/A              | DE               |  | US        |     -1789 | NC      | $-552.75      | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Public Storage                                        | Public Storage                                        | CUSIP: 74460D109<br>LEI: 549300LMZF40TKJ6DM64 | Long             | EC               |  | US        |      1424 | NS      | $433380.16    | 0.59%             |  |  |  | No            |                  1 | On Loan: No      |
| JPMORGAN CHASE & CO                                   | JPMorgan Chase & Co                                   | CUSIP: 48128B622<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | EP               | CORP              | US        |      4275 | NS      | $94050.00     | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Brown Brothers Harriman & Co.                         | PURCHASED USD / SOLD EUR                              | CUSIP: 000000000<br>LEI: 5493006KMX1VFTPYPW14 | N/A              | DFE              |  | US        |         1 | NC      | $-1176.03     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| FIRST HORIZON BANK                                    | First Horizon Bank                                    | CUSIP: 337158208<br>LEI: COOWI3L2W9TPYR3WJX37 | Long             | EP               | CORP              | US        |        50 | NS      | $41750.00     | 0.06%             |  |  |  | No            |                  2 | On Loan: No      |
| ENSTAR FINANCE LLC                                    | Enstar Finance LLC                                    | CUSIP: 29360AAA8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    130000 | PA      | $116656.80    | 0.16%             | 2040-09-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Cellnex Telecom SA                                    | Cellnex Telecom SA                                    | CUSIP: 000000000<br>LEI: 5493008T4YG3AQUI7P67 | Long             | EC               | CORP              | ES        |     22281 | NS      | $873147.48    | 1.18%             |  |  |  | No            |                  2 | On Loan: No      |
| BNP PARIBAS                                           | BNP Paribas SA                                        | CUSIP: 05565AS20<br>LEI: R0MUWSFPU8MPRO8K5P83 | Long             | DBT              | CORP              | FR        |    200000 | PA      | $217700.00    | 0.29%             | 2027-11-17      | Fixed         | 9.25%                 | No            |                  2 | On Loan: No      |
| SOCIETE GENERALE                                      | Societe Generale SA                                   | CUSIP: 83370RAC2<br>LEI: O2RNE8IBXP4R0TD8PU41 | Long             | DBT              | CORP              | FR        |    200000 | PA      | $215250.00    | 0.29%             | 2027-11-22      | Fixed         | 9.38%                 | No            |                  2 | On Loan: No      |
| TELEPHONE & DATA SYS                                  | Telephone and Data Systems Inc                        | CUSIP: 879433787<br>LEI: N/A                  | Long             | EP               | CORP              | US        |      3953 | NS      | $76490.55     | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Goldman Sachs International                           | REALTY INCOME CORP                                    | CUSIP: 000000000<br>LEI: W22LROWP2IHZNBB6K528 | N/A              | DE               |  | US        |     -1087 | NC      | $-1312.99     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Agnico Eagle Mines Ltd                                | Agnico Eagle Mines Ltd                                | CUSIP: 008474108<br>LEI: YGE0EUBRF7IJOB3QRX76 | Long             | EC               | CORP              | CA        |      9333 | NS      | $527061.46    | 0.71%             |  |  |  | No            |                  1 | On Loan: No      |
| ENBRIDGE INC                                          | Enbridge Inc                                          | CUSIP: 29250NBP9<br>LEI: 98TPTUM4IVMFCZBCUR27 | Long             | DBT              | CORP              | CA        |    198000 | PA      | $204394.05    | 0.28%             | 2083-01-15      | Fixed         | 7.62%                 | No            |                  2 | On Loan: No      |
| FULTON FINANCIAL CORP                                 | Fulton Financial Corp                                 | CUSIP: 360271308<br>LEI: 5493005QLZ6O1BNC0C11 | Long             | EP               | CORP              | US        |      4402 | NS      | $93102.30     | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| WESTERN ALLIANCE BANCORP                              | Western Alliance Bancorp                              | CUSIP: 957638406<br>LEI: 5493003VJXZ5JXT9S762 | Long             | EP               | CORP              | US        |      2503 | NS      | $53739.41     | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| TRUIST FINANCIAL CORP                                 | Truist Financial Corp                                 | CUSIP: 89832QAF6<br>LEI: 549300DRQQI75D2JP341 | Long             | DBT              | CORP              | US        |    117000 | PA      | $113957.64    | 0.15%             | 2030-03-01      | Fixed         | 5.10%                 | No            |                  2 | On Loan: No      |
| SOUTHERN CO                                           | Southern Co/The                                       | CUSIP: 842587DD6<br>LEI: 549300FC3G3YU2FBZD92 | Long             | DBT              | CORP              | US        |    130000 | PA      | $132337.23    | 0.18%             | 2027-08-01      | Fixed         | 5.11%                 | No            |                  2 | On Loan: No      |
| Consolidated Edison Inc                               | Consolidated Edison Inc                               | CUSIP: 209115104<br>LEI: 54930033SBW53OO8T749 | Long             | EC               | CORP              | US        |      3437 | NS      | $327580.47    | 0.44%             |  |  |  | No            |                  1 | On Loan: No      |
| COBANK ACB                                            | CoBank ACB                                            | CUSIP: 19075QAE2<br>LEI: P0J8I7M2E0A77CKF1705 | Long             | DBT              | CORP              | US        |    130000 | PA      | $131578.94    | 0.18%             | 2027-10-01      | Fixed         | 6.45%                 | No            |                  2 | On Loan: No      |
| Link REIT                                             | Link REIT                                             | CUSIP: 000000000<br>LEI: 529900XUE70U36QX5M62 | Long             | EC               |  | HK        |     27983 | NS      | $223986.01    | 0.30%             |  |  |  | No            |                  2 | On Loan: No      |
| ARGAN SA                                              | ARGAN SA                                              | CUSIP: 000000000<br>LEI: 529900FXM41XSCUSGH04 | Long             | EC               |  | FR        |      1223 | NS      | $103945.87    | 0.14%             |  |  |  | No            |                  2 | On Loan: No      |
| ICADE                                                 | ICADE                                                 | CUSIP: 000000000<br>LEI: 969500UDH342QLTE1M42 | Long             | EC               |  | FR        |      1623 | NS      | $77092.80     | 0.10%             |  |  |  | No            |                  2 | On Loan: No      |
| ZURICH FINANCE IRELAND                                | Zurich Finance Ireland Designated Activity Co         | CUSIP: 000000000<br>LEI: 549300E0FVHYR37EGX65 | Long             | DBT              | CORP              | IE        |    200000 | PA      | $159375.00    | 0.22%             | 2051-04-19      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| BANK OF NY MELLON CORP                                | Bank of New York Mellon Corp/The                      | CUSIP: 064058AL4<br>LEI: WFLLPEPC7FZXENRZV188 | Long             | DBT              | CORP              | US        |     20000 | PA      | $17426.00     | 0.02%             | 2026-12-20      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| CapitaLand Ascott Trust                               | CapitaLand Ascott Trust                               | CUSIP: 000000000<br>LEI: 549300W6RTG7Y32IWY65 | Long             | EC               |  | SG        |     42000 | NS      | $35604.86     | 0.05%             |  |  |  | No            |                  2 | On Loan: No      |
| BANK OF AMERICA CORP                                  | Bank of America Corp                                  | CUSIP: 060505GB4<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |     36000 | PA      | $32763.60     | 0.04%             | 2027-01-27      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| PRUDENTIAL FINANCIAL INC                              | Prudential Financial Inc                              | CUSIP: 744320BK7<br>LEI: 5PRBRS5FEH7NREC8OR45 | Long             | DBT              | CORP              | US        |    195000 | PA      | $194778.85    | 0.26%             | 2052-09-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Life Storage Inc                                      | Life Storage Inc                                      | CUSIP: 53223X107<br>LEI: W9EE01AFDDF9DQCQZC68 | Long             | EC               |  | US        |      2417 | NS      | $261132.68    | 0.35%             |  |  |  | No            |                  1 | On Loan: No      |
| Goldman Sachs Capital I                               | Goldman Sachs Capital I                               | CUSIP: 38143VAA7<br>LEI: 5299005MCIJK7R2NP351 | Long             | DBT              | CORP              | US        |     69000 | PA      | $74441.73     | 0.10%             | 2034-02-15      | Fixed         | 6.34%                 | No            |                  2 | On Loan: No      |
| HUNTINGTON BANCSHARES                                 | Huntington Bancshares Inc/OH                          | CUSIP: 446150AT1<br>LEI: 549300XTVCVV9I7B5T19 | Long             | DBT              | CORP              | US        |     90000 | PA      | $88848.08     | 0.12%             | 2030-07-15      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| SVB FINANCIAL GROUP                                   | SVB Financial Group                                   | CUSIP: 78486QAP6<br>LEI: 549300D2KJ20JMXE7542 | Long             | DBT              | CORP              | US        |    210000 | PA      | $168189.00    | 0.23%             | 2026-11-15      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| MetLife Inc                                           | MetLife Inc                                           | CUSIP: 59156RAV0<br>LEI: C4BXATY60WC6XEOZDX54 | Long             | DBT              | CORP              | US        |    100000 | PA      | $137600.00    | 0.19%             | 2039-08-01      | Fixed         | 10.75%                | No            |                  2 | On Loan: No      |
| FIRST REPUBLIC BANK                                   | First Republic Bank/CA                                | CUSIP: 33616C696<br>LEI: YWC0TIKBQM2JV8L4IV08 | Long             | EP               | CORP              | US        |      9687 | NS      | $192286.95    | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Brown Brothers Harriman & Co.                         | PURCHASED USD / SOLD CAD                              | CUSIP: 000000000<br>LEI: 5493006KMX1VFTPYPW14 | N/A              | DFE              |  | US        |         1 | NC      | $-15.31       | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| COREBRIDGE FINANCIAL INC                              | Corebridge Financial Inc                              | CUSIP: 21871XAN9<br>LEI: 549300XY1661QCIA7J65 | Long             | DBT              | CORP              | US        |    190000 | PA      | $189274.24    | 0.26%             | 2052-12-15      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| Charter Hall Group                                    | Charter Hall Group                                    | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               |  | AU        |     15328 | NS      | $150928.33    | 0.20%             |  |  |  | No            |                  2 | On Loan: No      |
| BROOKFIELD BRP HOLDINGS                               | Brookfield BRP Holdings Canada Inc                    | CUSIP: 11259P208<br>LEI: 549300NSPD7QJ50GZW26 | Long             | EP               | CORP              | CA        |      2422 | NS      | $44419.48     | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| CMS ENERGY CORP                                       | CMS Energy Corp                                       | CUSIP: 125896BU3<br>LEI: 549300IA9XFBAGNIBW29 | Long             | DBT              | CORP              | US        |     91000 | PA      | $82988.36     | 0.11%             | 2050-06-01      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| ALLIANZ SE                                            | Allianz SE                                            | CUSIP: 018820AA8<br>LEI: 529900K9B0N5BT694847 | Long             | DBT              | CORP              | DE        |    200000 | PA      | $174920.00    | 0.24%             | 2025-11-17      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Salmar ASA                                            | Salmar ASA                                            | CUSIP: 000000000<br>LEI: 5967007LIEEXZXGDBK67 | Long             | EC               | CORP              | NO        |      5525 | NS      | $256910.58    | 0.35%             |  |  |  | No            |                  2 | On Loan: No      |
| Goldman Sachs International                           | EXELON CORP                                           | CUSIP: 000000000<br>LEI: W22LROWP2IHZNBB6K528 | N/A              | DE               |  | US        |     -3950 | NC      | $-2272.10     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Japan Metropolitan Fund Invest                        | Japan Metropolitan Fund Invest                        | CUSIP: 000000000<br>LEI: 353800QDHNIP60E1LQ93 | Long             | EC               |  | JP        |       175 | NS      | $135289.70    | 0.18%             |  |  |  | No            |                  2 | On Loan: No      |
| Aedifica SA                                           | Aedifica SA                                           | CUSIP: 000000000<br>LEI: 529900DTKNXL0AXQFN28 | Long             | EC               |  | BE        |       396 | NS      | $34749.80     | 0.05%             |  |  |  | No            |                  2 | On Loan: No      |
| Frasers Logistics & Commercial Trust                  | Frasers Logistics & Commercial Trust                  | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               |  | SG        |     80100 | NS      | $77095.79     | 0.10%             |  |  |  | No            |                  2 | On Loan: No      |
| NATWEST GROUP PLC                                     | NatWest Group PLC                                     | CUSIP: 780099CK1<br>LEI: 2138005O9XJIJN4JPN90 | Long             | DBT              | CORP              | GB        |    200000 | PA      | $202491.00    | 0.27%             | 2025-08-10      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| DRESDNER FNDG TRUST I                                 | Dresdner Funding Trust I                              | CUSIP: 26156FAA1<br>LEI: 549300ZEO4BKB37E3J03 | Long             | DBT              | CORP              | US        |    100000 | PA      | $108500.00    | 0.15%             | 2031-06-30      | Fixed         | 8.15%                 | No            |                  2 | On Loan: No      |
| CNO FINANCIAL GROUP INC                               | CNO Financial Group Inc                               | CUSIP: 12621E301<br>LEI: 11XPYHB76MPM4Y4P2897 | Long             | EP               | CORP              | US        |      2483 | NS      | $45140.94     | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Essex Property Trust Inc                              | Essex Property Trust Inc                              | CUSIP: 297178105<br>LEI: 549300TR2H2VEFX0NC60 | Long             | EC               |  | US        |       274 | NS      | $61943.18     | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Goldman Sachs International                           | WELLTOWER INC                                         | CUSIP: 000000000<br>LEI: W22LROWP2IHZNBB6K528 | N/A              | DE               |  | US        |     -2172 | NC      | $-1827.07     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Guangdong Investment Ltd                              | Guangdong Investment Ltd                              | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | HK        |    168000 | NS      | $182518.36    | 0.25%             |  |  |  | No            |                  2 | On Loan: No      |
| Goldman Sachs International                           | VINCI SA                                              | CUSIP: 000000000<br>LEI: W22LROWP2IHZNBB6K528 | N/A              | DE               |  | FR        |     -1953 | NC      | $-3953.84     | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| RENAISSANCERE HOLDINGS L                              | RenaissanceRe Holdings Ltd                            | CUSIP: 000000000<br>LEI: EK6GB9U3U58PDI411C94 | Long             | EP               | CORP              | BM        |      5222 | NS      | $94935.96     | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| CMS Energy Corp                                       | CMS Energy Corp                                       | CUSIP: 125896860<br>LEI: 549300IA9XFBAGNIBW29 | Long             | EP               | CORP              | US        |      3805 | NS      | $93983.50     | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Nippon Prologis REIT Inc                              | Nippon Prologis REIT Inc                              | CUSIP: 000000000<br>LEI: 353800PHBMSDLAFURY41 | Long             | EC               |  | JP        |        50 | NS      | $113457.04    | 0.15%             |  |  |  | No            |                  2 | On Loan: No      |
| ENBRIDGE INC                                          | Enbridge Inc                                          | CUSIP: 29250N790<br>LEI: 98TPTUM4IVMFCZBCUR27 | Long             | EP               | CORP              | CA        |      1937 | NS      | $38875.59     | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Spirit Realty Capital Inc                             | Spirit Realty Capital Inc                             | CUSIP: 84860W300<br>LEI: 549300LTU6LVPZSHMJ25 | Long             | EC               |  | US        |      3438 | NS      | $150859.44    | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| BRIGHTHOUSE FINANCIAL IN                              | Brighthouse Financial Inc                             | CUSIP: 10922N707<br>LEI: 5493003T8SZSHOGGAW52 | Long             | EP               | CORP              | US        |      6815 | NS      | $138344.50    | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| SES SA                                                | SES SA                                                | CUSIP: 000000000<br>LEI: 5493008JPA4HYMH1HX51 | Long             | EC               | CORP              | LU        |     40804 | NS      | $316644.26    | 0.43%             |  |  |  | No            |                  2 | On Loan: No      |
| ENERGY TRANSFER LP                                    | Energy Transfer LP                                    | CUSIP: 29273V605<br>LEI: MTLVN9N7JE8MIBIJ1H73 | Long             | EP               | CORP              | US        |      6122 | NS      | $146928.00    | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| EQUITABLE HOLDINGS INC                                | Equitable Holdings Inc                                | CUSIP: 29452E408<br>LEI: 549300FIBAKMNHPZ4009 | Long             | EP               | CORP              | US        |      1045 | NS      | $20565.60     | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Camden Property Trust                                 | Camden Property Trust                                 | CUSIP: 133131102<br>LEI: 5493002MYX22OHYJBD89 | Long             | EC               |  | US        |      2179 | NS      | $268474.59    | 0.36%             |  |  |  | No            |                  1 | On Loan: No      |
| Atlas Arteria Ltd                                     | Atlas Arteria Ltd                                     | CUSIP: 000000000<br>LEI: 254900SGF4ZQDBH2YC59 | Long             | EC               | CORP              | AU        |     70510 | NS      | $342920.11    | 0.46%             |  |  |  | No            |                  2 | On Loan: No      |
| ENERGY TRANSFER LP                                    | Energy Transfer LP                                    | CUSIP: 29273VAM2<br>LEI: MTLVN9N7JE8MIBIJ1H73 | Long             | DBT              | CORP              | US        |    200000 | PA      | $183200.00    | 0.25%             | 2030-05-15      | Fixed         | 7.12%                 | No            |                  2 | On Loan: No      |
| Evergy Inc                                            | Evergy Inc                                            | CUSIP: 30034W106<br>LEI: 549300PGTHDQY6PSUI61 | Long             | EC               | CORP              | US        |      3134 | NS      | $196345.10    | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| PG&E Corp                                             | PG&E Corp                                             | CUSIP: 69331C108<br>LEI: 8YQ2GSDWYZXO2EDN3511 | Long             | EC               | CORP              | US        |      7648 | NS      | $121603.20    | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Equitrans Midstream Corp                              | Equitrans Midstream Corp                              | CUSIP: 294600101<br>LEI: 549300RH0NLJNZ5SXU64 | Long             | EC               | CORP              | US        |     10818 | NS      | $78430.50     | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Transcanada Trust                                     | Transcanada Trust                                     | CUSIP: 89356BAB4<br>LEI: 549300Y0MFCAXLBWUV51 | Long             | DBT              | CORP              | CA        |    270000 | PA      | $263196.00    | 0.36%             | 2076-08-15      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| ENBRIDGE INC                                          | Enbridge Inc                                          | CUSIP: 29250NBC8<br>LEI: 98TPTUM4IVMFCZBCUR27 | Long             | DBT              | CORP              | CA        |    315000 | PA      | $298868.85    | 0.40%             | 2080-07-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| EQUITABLE HOLDINGS INC                                | Equitable Holdings Inc                                | CUSIP: 29452EAA9<br>LEI: 549300FIBAKMNHPZ4009 | Long             | DBT              | CORP              | US        |    110000 | PA      | $106962.25    | 0.14%             | 2025-09-15      | Fixed         | 4.95%                 | No            |                  2 | On Loan: No      |
| West Japan Railway Co                                 | West Japan Railway Co                                 | CUSIP: 000000000<br>LEI: 353800QGUXHZ7EBCR121 | Long             | EC               | CORP              | JP        |      3600 | NS      | $150762.60    | 0.20%             |  |  |  | No            |                  2 | On Loan: No      |
| Brown Brothers Harriman & Co.                         | PURCHASED USD / SOLD EUR                              | CUSIP: 000000000<br>LEI: 5493006KMX1VFTPYPW14 | N/A              | DFE              |  | US        |         1 | NC      | $785.78       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Goldman Sachs International                           | CENTERPOINT ENERGY INC                                | CUSIP: 000000000<br>LEI: W22LROWP2IHZNBB6K528 | N/A              | DE               |  | US        |     -3346 | NC      | $-2281.22     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| SBA Communications Corp                               | SBA Communications Corp                               | CUSIP: 78410G104<br>LEI: 5299001HX8ZN8Y8QIT49 | Long             | EC               |  | US        |      2623 | NS      | $780421.19    | 1.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Goldman Sachs International                           | SEMPRA ENERGY                                         | CUSIP: 000000000<br>LEI: W22LROWP2IHZNBB6K528 | N/A              | DE               |  | US        |     -1299 | NC      | $-5752.55     | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| CSX Corp                                              | CSX Corp                                              | CUSIP: 126408103<br>LEI: 549300JVQR4N1MMP3Q88 | Long             | EC               | CORP              | US        |      7641 | NS      | $236259.72    | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |
| REINSURANCE GRP OF AMER                               | Reinsurance Group of America Inc                      | CUSIP: 759351885<br>LEI: LORM1GNEU1DKEW527V90 | Long             | EP               | CORP              | US        |      6555 | NS      | $174625.20    | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| ENEL SPA                                              | Enel SpA                                              | CUSIP: 000000000<br>LEI: WOCMU6HCI0OJWNPRZS33 | Long             | DBT              | CORP              | IT        |    100000 | PA      | $110921.84    | 0.15%             | 2031-04-16      | Fixed         | 6.62%                 | No            |                  2 | On Loan: No      |
| SWISS RE FINANCE LUX                                  | Swiss Re Finance Luxembourg SA                        | CUSIP: 87089NAA8<br>LEI: 549300CLQZ6TM98LW631 | Long             | DBT              | CORP              | LU        |    200000 | PA      | $194116.40    | 0.26%             | 2049-04-02      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| UBS GROUP AG                                          | UBS Group AG                                          | CUSIP: 902613AJ7<br>LEI: 549300SZJ9VS8SGXAN81 | Long             | DBT              | CORP              | CH        |    200000 | PA      | $180280.00    | 0.24%             | 2027-02-12      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| SOUTHERN CO                                           | Southern Co/The                                       | CUSIP: 842587DJ3<br>LEI: 549300FC3G3YU2FBZD92 | Long             | DBT              | CORP              | US        |    173000 | PA      | $151002.39    | 0.20%             | 2051-09-15      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| CHARLES SCHWAB CORP                                   | Charles Schwab Corp/The                               | CUSIP: 808513BD6<br>LEI: 549300VSGCJ7E698NM85 | Long             | DBT              | CORP              | US        |    177000 | PA      | $176504.40    | 0.24%             | 2025-06-01      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| Essential Utilities Inc                               | Essential Utilities Inc                               | CUSIP: 29670G102<br>LEI: 549300ILTEOF3E3QY357 | Long             | EC               | CORP              | US        |      4323 | NS      | $202013.79    | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| CenterPoint Energy Inc                                | CenterPoint Energy Inc                                | CUSIP: 15189T107<br>LEI: 21TPXMRRHFKOBHDC8J74 | Long             | EC               | CORP              | US        |     14939 | NS      | $449962.68    | 0.61%             |  |  |  | No            |                  1 | On Loan: No      |
| Mitsubishi Estate Co Ltd                              | Mitsubishi Estate Co Ltd                              | CUSIP: 000000000<br>LEI: 353800KOFMRGOXSJ5Z65 | Long             | EC               | CORP              | JP        |      7900 | NS      | $101539.63    | 0.14%             |  |  |  | No            |                  2 | On Loan: No      |
| DEUTSCHE BANK AG                                      | Deutsche Bank AG                                      | CUSIP: 251525AX9<br>LEI: 7LTWFZYICNSX8D621K86 | Long             | DBT              | CORP              | DE        |    200000 | PA      | $182530.78    | 0.25%             | 2025-10-30      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| CARLYLE FINANCE LLC                                   | Carlyle Finance LLC                                   | CUSIP: 14314C105<br>LEI: N/A                  | Long             | EP               | CORP              | US        |      2551 | NS      | $49183.28     | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| SOCIETE GENERALE                                      | Societe Generale SA                                   | CUSIP: 000000000<br>LEI: O2RNE8IBXP4R0TD8PU41 | Long             | DBT              | CORP              | FR        |    100000 | PA      | $112723.90    | 0.15%             | 2029-01-18      | Fixed         | 7.88%                 | No            |                  2 | On Loan: No      |
| BANK OF IRELAND GROUP                                 | Bank of Ireland Group PLC                             | CUSIP: 000000000<br>LEI: 635400C8EK6DRI12LJ39 | Long             | DBT              | CORP              | IE        |    200000 | PA      | $217467.03    | 0.29%             | 2025-05-19      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| NiSource Inc                                          | NiSource Inc                                          | CUSIP: 65473P105<br>LEI: 549300D8GOWWH0SJB189 | Long             | EC               | CORP              | US        |     19687 | NS      | $546314.25    | 0.74%             |  |  |  | No            |                  1 | On Loan: No      |
| CHARLES SCHWAB CORP                                   | Charles Schwab Corp/The                               | CUSIP: 808513BK0<br>LEI: 549300VSGCJ7E698NM85 | Long             | DBT              | CORP              | US        |    696000 | PA      | $642164.40    | 0.87%             | 2026-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Hydro One Ltd                                         | Hydro One Ltd                                         | CUSIP: 448811208<br>LEI: 5493007QZDXTP1W2VL44 | Long             | EC               | CORP              | CA        |      9160 | NS      | $250453.42    | 0.34%             |  |  |  | No            |                  1 | On Loan: No      |
| SIGNATURE BANK NEW YORK                               | Signature Bank/New York NY                            | CUSIP: 82669G203<br>LEI: VLP5AP0XK2GM6GKD1007 | Long             | EP               | CORP              | US        |      2483 | NS      | $47077.68     | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| SEMPRA ENERGY                                         | Sempra Energy                                         | CUSIP: 816851BK4<br>LEI: PBBKGKLRK5S5C0Y4T545 | Long             | DBT              | CORP              | US        |    315000 | PA      | $303187.50    | 0.41%             | 2025-10-15      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| Eversource Energy                                     | Eversource Energy                                     | CUSIP: 30040W108<br>LEI: SJ7XXD41SQU3ZNWUJ746 | Long             | EC               | CORP              | US        |      1857 | NS      | $152886.81    | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| DOMINION ENERGY INC                                   | Dominion Energy Inc                                   | CUSIP: 25746UDM8<br>LEI: ILUL7B6Z54MRYCF6H308 | Long             | DBT              | CORP              | US        |    247000 | PA      | $222300.00    | 0.30%             | 2027-01-15      | Fixed         | 4.35%                 | No            |                  2 | On Loan: No      |
| SCENTRE GROUP TRUST 2                                 | Scentre Group Trust 2                                 | CUSIP: 76025LAA2<br>LEI: 549300VRF0U0JH8TBJ74 | Long             | DBT              |  | AU        |    400000 | PA      | $373749.33    | 0.51%             | 2080-09-24      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| E.ON SE                                               | E.ON SE                                               | CUSIP: 000000000<br>LEI: Q9MAIUP40P25UFBFG033 | Long             | EC               | CORP              | DE        |     17955 | NS      | $195761.74    | 0.27%             |  |  |  | No            |                  2 | On Loan: No      |
| CREDIT SUISSE GROUP AG                                | Credit Suisse Group AG                                | CUSIP: 225401AR9<br>LEI: 549300506SI9CRFV9Z86 | Long             | DBT              | CORP              | CH        |    200000 | PA      | $150500.00    | 0.20%             | 2027-02-11      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Aena SME SA                                           | Aena SME SA                                           | CUSIP: 000000000<br>LEI: 959800R7QMXKF0NFMT29 | Long             | EC               | CORP              | ES        |      2560 | NS      | $384637.36    | 0.52%             |  |  |  | No            |                  2 | On Loan: No      |
| BANK OF AMERICA CORP                                  | Bank of America Corp                                  | CUSIP: 06055H871<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | EP               | CORP              | US        |      3320 | NS      | $72210.00     | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| BHP Group Ltd                                         | BHP Group Ltd                                         | CUSIP: 000000000<br>LEI: WZE1WSENV6JSZFK0JC28 | Long             | EC               | CORP              | AU        |     30621 | NS      | $1072412.68   | 1.45%             |  |  |  | No            |                  2 | On Loan: No      |
| MetLife Inc                                           | MetLife Inc                                           | CUSIP: 59156RBS6<br>LEI: C4BXATY60WC6XEOZDX54 | Long             | DBT              | CORP              | US        |    300000 | PA      | $362659.50    | 0.49%             | 2038-04-08      | Fixed         | 9.25%                 | No            |                  2 | On Loan: No      |
| Lloyds Banking Group PLC                              | Lloyds Banking Group PLC                              | CUSIP: 539439AU3<br>LEI: 549300PPXHEU2JF0AM85 | Long             | DBT              | CORP              | GB        |    200000 | PA      | $198550.00    | 0.27%             | 2025-09-27      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| Bank of America Corp                                  | Bank of America Corp                                  | CUSIP: 060505EU4<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |     74000 | PA      | $75235.80     | 0.10%             | 2026-03-10      | Fixed         | 6.30%                 | No            |                  2 | On Loan: No      |
| Danske Bank A/S                                       | Danske Bank A/S                                       | CUSIP: 000000000<br>LEI: MAES062Z21O4RZ2U7M96 | Long             | DBT              | CORP              | DK        |    200000 | PA      | $194756.00    | 0.26%             | 2025-06-26      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| LINCOLN NATIONAL CORP                                 | Lincoln National Corp                                 | CUSIP: 534187885<br>LEI: EFQMQROEDSNBRIP7LE47 | Long             | EP               | CORP              | US        |      6400 | NS      | $184000.00    | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| Airports of Thailand PCL                              | Airports of Thailand PCL                              | CUSIP: 000000000<br>LEI: 5299006VS4CU6LW0TY22 | Long             | EC               | CORP              | TH        |     45400 | NS      | $102382.11    | 0.14%             |  |  |  | No            |                  2 | On Loan: No      |
| Brown Brothers Harriman & Co.                         | PURCHASED EUR / SOLD USD                              | CUSIP: 000000000<br>LEI: 5493006KMX1VFTPYPW14 | N/A              | DFE              |  | XX        |         1 | NC      | $-346.90      | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Goldman Sachs International                           | E.ON SE                                               | CUSIP: 000000000<br>LEI: W22LROWP2IHZNBB6K528 | N/A              | DE               |  | DE        |     -4203 | NC      | $-881.82      | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| WELLS FARGO & COMPANY                                 | Wells Fargo & Co                                      | CUSIP: 95002Y202<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | EP               | CORP              | US        |      5880 | NS      | $118070.40    | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| GOLDMAN SACHS GROUP INC                               | Goldman Sachs Group Inc/The                           | CUSIP: 38144GAG6<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | DBT              | CORP              | US        |    206000 | PA      | $179652.60    | 0.24%             | 2026-08-10      | Fixed         | 3.65%                 | No            |                  2 | On Loan: No      |
| EDISON INTERNATIONAL                                  | Edison International                                  | CUSIP: 281020AT4<br>LEI: 549300I7ROF15MAEVP56 | Long             | DBT              | CORP              | US        |    185000 | PA      | $164944.15    | 0.22%             | 2026-12-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Assura PLC                                            | Assura PLC                                            | CUSIP: 000000000<br>LEI: 21380026T19N2Y52XF72 | Long             | EC               |  | GB        |     31616 | NS      | $21730.11     | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Tritax Big Box REIT PLC                               | Tritax Big Box REIT PLC                               | CUSIP: 000000000<br>LEI: 213800L6X88MIYPVR714 | Long             | EC               |  | GB        |     31592 | NS      | $60870.40     | 0.08%             |  |  |  | No            |                  2 | On Loan: No      |
| SKANDINAVISKA ENSKILDA                                | Skandinaviska Enskilda Banken AB                      | CUSIP: 000000000<br>LEI: F3JS33DEI6XQ4ZBPTN86 | Long             | DBT              | CORP              | SE        |    200000 | PA      | $200335.00    | 0.27%             | 2027-06-30      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| FIRST REPUBLIC BANK                                   | First Republic Bank/CA                                | CUSIP: 33616C720<br>LEI: YWC0TIKBQM2JV8L4IV08 | Long             | EP               | CORP              | US        |     20435 | NS      | $373551.80    | 0.51%             |  |  |  | No            |                  1 | On Loan: No      |
| UNITE Group PLC/The                                   | UNITE Group PLC/The                                   | CUSIP: 000000000<br>LEI: 213800BBUUWVDH9YI827 | Long             | EC               |  | GB        |      2030 | NS      | $25007.83     | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| BANCO MERCANTIL DE NORTE                              | Banco Mercantil del Norte SA/Grand Cayman             | CUSIP: 05973KAB3<br>LEI: 549300QTVYRPFHS0J362 | Long             | DBT              | CORP              | MX        |    200000 | PA      | $176861.41    | 0.24%             | 2032-01-24      | Fixed         | 6.62%                 | No            |                  2 | On Loan: No      |
| Enstar Group Ltd                                      | Enstar Group Ltd                                      | CUSIP: 29359U109<br>LEI: 213800AMAL5QFXVUCN04 | Long             | EP               | CORP              | BM        |      4359 | NS      | $104746.77    | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| RWE AG                                                | RWE AG                                                | CUSIP: 000000000<br>LEI: 529900GB7KCA94ACC940 | Long             | EC               | CORP              | DE        |      4357 | NS      | $193968.73    | 0.26%             |  |  |  | No            |                  2 | On Loan: No      |
| HealthCo REIT                                         | HealthCo REIT                                         | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               |  | AU        |     38970 | NS      | $44836.36     | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| NETSTREIT Corp                                        | NETSTREIT Corp                                        | CUSIP: 64119V303<br>LEI: 254900CJL0EDMEQ25Q84 | Long             | EC               |  | US        |      6198 | NS      | $124765.74    | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| Vinci SA                                              | Vinci SA                                              | CUSIP: 000000000<br>LEI: 213800WFQ334R8UXUG83 | Long             | EC               | CORP              | FR        |     11302 | NS      | $1277007.83   | 1.73%             |  |  |  | No            |                  2 | On Loan: No      |
| TRUIST FINANCIAL CORP                                 | Truist Financial Corp                                 | CUSIP: 89832Q695<br>LEI: 549300DRQQI75D2JP341 | Long             | EP               | CORP              | US        |      4307 | NS      | $95615.40     | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Simon Property Group Inc                              | Simon Property Group Inc                              | CUSIP: 828806109<br>LEI: 529900GQL5X8H7AO3T64 | Long             | EC               |  | US        |      4403 | NS      | $565609.38    | 0.77%             |  |  |  | No            |                  1 | On Loan: No      |
| TC Energy Corp                                        | TC Energy Corp                                        | CUSIP: 87807B107<br>LEI: 549300UGKOFV2IWJJG27 | Long             | EC               | CORP              | CA        |     25323 | NS      | $1091103.37   | 1.48%             |  |  |  | No            |                  1 | On Loan: No      |
| CREDIT AGRICOLE SA                                    | Credit Agricole SA                                    | CUSIP: 225313AP0<br>LEI: 969500TJ5KRTCJQWXH05 | Long             | DBT              | CORP              | FR        |    200000 | PA      | $170580.00    | 0.23%             | 2029-03-23      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| HSBC CAPITAL FUNDING USD                              | HSBC Capital Funding Dollar 1 LP                      | CUSIP: 40427LAB0<br>LEI: 213800HMY2DB765NHE46 | Long             | DBT              | CORP              | JE        |    120000 | PA      | $151200.00    | 0.20%             | 2030-06-30      | Fixed         | 10.18%                | No            |                  2 | On Loan: No      |
| ATHENE HOLDING LTD                                    | Athene Holding Ltd                                    | CUSIP: 04686J200<br>LEI: 549300H316CT32FQXI76 | Long             | EP               | CORP              | BM        |      3816 | NS      | $89599.68     | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Electricite de France SA                              | Electricite de France SA                              | CUSIP: 268317AM6<br>LEI: 549300X3UK4GG3FNMO06 | Long             | DBT              | CORP              | FR        |    100000 | PA      | $97400.00     | 0.13%             | 2024-01-22      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| Assurant Inc                                          | Assurant Inc                                          | CUSIP: 04621XAK4<br>LEI: H3F39CAXWQRVWURFXL38 | Long             | DBT              | CORP              | US        |    500000 | PA      | $497137.57    | 0.67%             | 2048-03-27      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| SYNCHRONY FINANCIAL                                   | Synchrony Financial                                   | CUSIP: 87165B202<br>LEI: 549300RS7EWPM9MA6C78 | Long             | EP               | CORP              | US        |      1874 | NS      | $37123.94     | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| ARES FINANCE CO                                       | Ares Finance Co III LLC                               | CUSIP: 04018VAA1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    165000 | PA      | $127945.22    | 0.17%             | 2051-06-30      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| Klepierre SA                                          | Klepierre SA                                          | CUSIP: 000000000<br>LEI: 969500PB4U31KEFHZ621 | Long             | EC               |  | FR        |      6342 | NS      | $160962.17    | 0.22%             |  |  |  | No            |                  2 | On Loan: No      |
| BNP PARIBAS                                           | BNP Paribas SA                                        | CUSIP: 000000000<br>LEI: R0MUWSFPU8MPRO8K5P83 | Long             | DBT              | CORP              | FR        |    200000 | PA      | $222969.09    | 0.30%             | 2030-06-11      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| BROOKFIELD PROP PFD LP                                | Brookfield Property Preferred LP                      | CUSIP: 000000000<br>LEI: N/A                  | Long             | EP               | CORP              | BM        |       990 | NS      | $18839.70     | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| RioCan Real Estate Investment Trust                   | RioCan Real Estate Investment Trust                   | CUSIP: 766910103<br>LEI: 549300S8HVUSEU3JBY60 | Long             | EC               |  | CA        |      5061 | NS      | $87789.17     | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| UNITED STATES CELLULAR C                              | United States Cellular Corp                           | CUSIP: 911684702<br>LEI: 549300B164AZXESI6E03 | Long             | EP               | CORP              | US        |      3295 | NS      | $65175.10     | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Ingenia Communities Group                             | Ingenia Communities Group                             | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               |  | AU        |     28961 | NS      | $95376.60     | 0.13%             |  |  |  | No            |                  2 | On Loan: No      |
| US CELLULAR CORP                                      | United States Cellular Corp                           | CUSIP: 911684884<br>LEI: 549300B164AZXESI6E03 | Long             | EP               | CORP              | US        |      3621 | NS      | $67748.91     | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Bank of America Corp                                  | Bank of America Corp                                  | CUSIP: 060505FL3<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |    198000 | PA      | $189832.50    | 0.26%             | 2028-03-15      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| Adams Diversified Equity Fund Inc                     | Adams Diversified Equity Fund Inc                     | CUSIP: 006212104<br>LEI: 5493005W7G81BNPP7M23 | Long             | EC               | RF                | US        |     23010 | NS      | $358035.60    | 0.48%             |  |  |  | No            |                  1 | On Loan: No      |
| ATHENE HOLDING LTD                                    | Athene Holding Ltd                                    | CUSIP: 04686J408<br>LEI: 549300H316CT32FQXI76 | Long             | EP               | CORP              | BM        |      9556 | NS      | $191215.56    | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| VODAFONE GROUP PLC                                    | VODAFONE GROUP PLC                                    | CUSIP: 000000000<br>LEI: 213800TB53ELEUKM7Q61 | Long             | DBT              | CORP              | GB        |    200000 | PA      | $196542.00    | 0.27%             | 2078-10-03      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| CAIXABANK SA                                          | CaixaBank SA                                          | CUSIP: 000000000<br>LEI: 7CUNS533WID6K7DGFI87 | Long             | DBT              | CORP              | ES        |    200000 | PA      | $202819.42    | 0.27%             | 2027-10-09      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| DIME COMMUNITY BANCSHARE                              | Dime Community Bancshares Inc                         | CUSIP: 25432X201<br>LEI: N/A                  | Long             | EP               | CORP              | US        |      5287 | NS      | $114727.90    | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Transurban Group                                      | Transurban Group                                      | CUSIP: 000000000<br>LEI: 549300ZR71SUQ4VUTM79 | Long             | EC               | CORP              | AU        |     25695 | NS      | $251917.31    | 0.34%             |  |  |  | No            |                  2 | On Loan: No      |
| BNP PARIBAS                                           | BNP Paribas SA                                        | CUSIP: 05565AM34<br>LEI: R0MUWSFPU8MPRO8K5P83 | Long             | DBT              | CORP              | FR        |    400000 | PA      | $415000.00    | 0.56%             | 2029-08-16      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| JPMORGAN CHASE & CO                                   | JPMorgan Chase & Co                                   | CUSIP: 48128BAF8<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | DBT              | CORP              | US        |     40000 | PA      | $38925.00     | 0.05%             | 2024-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SVB FINANCIAL GROUP                                   | SVB Financial Group                                   | CUSIP: 78486QAJ0<br>LEI: 549300D2KJ20JMXE7542 | Long             | DBT              | CORP              | US        |    210000 | PA      | $168392.39    | 0.23%             | 2026-05-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Emera Inc                                             | Emera Inc                                             | CUSIP: 290876AD3<br>LEI: NQZVQT2P5IUF2PGA1Q48 | Long             | DBT              | CORP              | CA        |    628000 | PA      | $619134.64    | 0.84%             | 2076-06-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| CITIGROUP INC                                         | Citigroup Inc                                         | CUSIP: 172967MU2<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |    153000 | PA      | $141929.13    | 0.19%             | 2025-12-10      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| DUKE ENERGY CORP                                      | Duke Energy Corp                                      | CUSIP: 26441CBG9<br>LEI: I1BZKREC126H0VB1BL91 | Long             | DBT              | CORP              | US        |    200000 | PA      | $193196.88    | 0.26%             | 2024-09-16      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| Invesco Financial Preferred ETF                       | Invesco Financial Preferred ETF                       | CUSIP: 46137V621<br>LEI: 549300ZE8G0Q0CHYKS46 | Long             | EC               | RF                | US        |     34057 | NS      | $549339.41    | 0.74%             |  |  |  | No            |                  1 | On Loan: No      |
| Societe Generale                                      | Societe Generale SA                                   | CUSIP: 83368JFA3<br>LEI: O2RNE8IBXP4R0TD8PU41 | Long             | DBT              | CORP              | FR        |    200000 | PA      | $202625.00    | 0.27%             | 2025-09-29      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| National Storage REIT                                 | National Storage REIT                                 | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               |  | AU        |     31530 | NS      | $51890.08     | 0.07%             |  |  |  | No            |                  2 | On Loan: No      |
| Barclays PLC                                          | Barclays PLC                                          | CUSIP: 06738EBG9<br>LEI: 213800LBQA1Y9L22JB70 | Long             | DBT              | CORP              | GB        |    200000 | PA      | $199750.00    | 0.27%             | 2024-06-15      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| AIRCASTLE LTD                                         | Aircastle Ltd                                         | CUSIP: 00928QAW1<br>LEI: 549300PNK8AKY3OIKP58 | Long             | DBT              | CORP              | BM        |     60000 | PA      | $49500.00     | 0.07%             | 2026-06-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| TELEFONICA EUROPE BV                                  | Telefonica Europe BV                                  | CUSIP: 000000000<br>LEI: 7245007FZS0M65WUGP67 | Long             | DBT              | CORP              | NL        |    100000 | PA      | $107098.22    | 0.15%             | 2030-02-03      | Fixed         | 6.13%                 | No            |                  2 | On Loan: No      |
| Apartment Income REIT Corp                            | Apartment Income REIT Corp                            | CUSIP: 03750L109<br>LEI: N/A                  | Long             | EC               |  | US        |      6851 | NS      | $262119.26    | 0.35%             |  |  |  | No            |                  1 | On Loan: No      |
| Auckland International Airport Ltd                    | Auckland International Airport Ltd                    | CUSIP: 000000000<br>LEI: 549300HFZIZDJWB7AK60 | Long             | EC               | CORP              | NZ        |     19704 | NS      | $108441.67    | 0.15%             |  |  |  | No            |                  2 | On Loan: No      |
| CAPITAL ONE FINANCIAL CO                              | Capital One Financial Corp                            | CUSIP: 14040HCF0<br>LEI: ZUE8T73ROZOF6FLBAR73 | Long             | DBT              | CORP              | US        |     41000 | PA      | $35687.99     | 0.05%             | 2026-09-01      | Fixed         | 3.95%                 | No            |                  2 | On Loan: No      |
| Goldman Sachs International                           | LIFE STORAGE INC                                      | CUSIP: 000000000<br>LEI: W22LROWP2IHZNBB6K528 | N/A              | DE               |  | US        |      -391 | NC      | $-879.86      | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| UBS Group AG                                          | UBS Group AG                                          | CUSIP: 000000000<br>LEI: 549300SZJ9VS8SGXAN81 | Long             | DBT              | CORP              | CH        |    200000 | PA      | $199065.00    | 0.27%             | 2025-08-07      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| TRANSCANADA TRUST                                     | Transcanada Trust                                     | CUSIP: 89356BAG3<br>LEI: 549300Y0MFCAXLBWUV51 | Long             | DBT              | CORP              | CA        |    122000 | PA      | $109342.50    | 0.15%             | 2082-03-07      | Fixed         | 5.60%                 | No            |                  2 | On Loan: No      |
| Goldman Sachs International                           | HEALTHPEAK PROPERTIES INC                             | CUSIP: 000000000<br>LEI: W22LROWP2IHZNBB6K528 | N/A              | DE               |  | US        |      -563 | NC      | $-287.12      | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Brown Brothers Harriman & Co.                         | PURCHASED USD / SOLD EUR                              | CUSIP: 000000000<br>LEI: 5493006KMX1VFTPYPW14 | N/A              | DFE              |  | US        |         1 | NC      | $-151.45      | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Mid-America Apartment Communities Inc                 | Mid-America Apartment Communities Inc                 | CUSIP: 59522J103<br>LEI: 549300FQZKFR5YNSHZ21 | Long             | EC               |  | US        |      1929 | NS      | $321602.88    | 0.44%             |  |  |  | No            |                  1 | On Loan: No      |
| Goldman Sachs International                           | WILLIAMS COS INC/THE                                  | CUSIP: 000000000<br>LEI: W22LROWP2IHZNBB6K528 | N/A              | DE               |  | US        |      -753 | NC      | $-634.59      | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Digital Realty Trust Inc                              | Digital Realty Trust Inc                              | CUSIP: 253868103<br>LEI: 549300HKCZ31D08NEI41 | Long             | EC               |  | US        |      9529 | NS      | $1092213.98   | 1.48%             |  |  |  | No            |                  1 | On Loan: No      |
| Eurocommercial Properties NV                          | Eurocommercial Properties NV                          | CUSIP: 000000000<br>LEI: 724500SFK53FPNM68L95 | Long             | EC               |  | NL        |      1597 | NS      | $39990.47     | 0.05%             |  |  |  | No            |                  2 | On Loan: No      |
| Invincible Investment Corp                            | Invincible Investment Corp                            | CUSIP: 000000000<br>LEI: 353800JY6M2692VAV685 | Long             | EC               |  | JP        |       274 | NS      | $116853.13    | 0.16%             |  |  |  | No            |                  2 | On Loan: No      |
| Warehouses De Pauw CVA                                | Warehouses De Pauw CVA                                | CUSIP: 000000000<br>LEI: 549300HWDYC5JXC85138 | Long             | EC               |  | BE        |      1975 | NS      | $62630.97     | 0.08%             |  |  |  | No            |                  2 | On Loan: No      |
| Segro PLC                                             | Segro PLC                                             | CUSIP: 000000000<br>LEI: 213800XC35KGM9NFC641 | Long             | EC               |  | GB        |      6181 | NS      | $63624.68     | 0.09%             |  |  |  | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS GROUP INC                               | Goldman Sachs Group Inc/The                           | CUSIP: 38144GAE1<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | DBT              | CORP              | US        |    105000 | PA      | $92056.14     | 0.12%             | 2026-05-10      | Fixed         | 3.80%                 | No            |                  2 | On Loan: No      |
| National Grid PLC                                     | National Grid PLC                                     | CUSIP: 000000000<br>LEI: 8R95QZMKZLJX5Q2XR704 | Long             | EC               | CORP              | GB        |     84903 | NS      | $1079362.84   | 1.46%             |  |  |  | No            |                  2 | On Loan: No      |
| BANK OF NOVA SCOTIA                                   | Bank of Nova Scotia/The                               | CUSIP: 0641598S8<br>LEI: L3I9ZG2KFGXZ61BMYR72 | Long             | DBT              | CORP              | CA        |    200000 | PA      | $213094.05    | 0.29%             | 2082-10-27      | Fixed         | 8.62%                 | No            |                  2 | On Loan: No      |
| CK Asset Holdings Ltd                                 | CK Asset Holdings Ltd                                 | CUSIP: 000000000<br>LEI: 5299006GJZSGP78B8S35 | Long             | EC               | CORP              | KY        |     13000 | NS      | $83115.62     | 0.11%             |  |  |  | No            |                  2 | On Loan: No      |
| CITIZENS FINANCIAL GROUP                              | Citizens Financial Group Inc                          | CUSIP: 174610AU9<br>LEI: 2138004JDDA4ZQUPFW65 | Long             | DBT              | CORP              | US        |     85000 | PA      | $84148.31     | 0.11%             | 2025-10-06      | Fixed         | 5.65%                 | No            |                  2 | On Loan: No      |
| Enbridge Inc                                          | Enbridge Inc                                          | CUSIP: 29250NAN5<br>LEI: 98TPTUM4IVMFCZBCUR27 | Long             | DBT              | CORP              | CA        |    300000 | PA      | $285340.03    | 0.39%             | 2077-01-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| SEMPRA ENERGY                                         | Sempra Energy                                         | CUSIP: 816851BM0<br>LEI: PBBKGKLRK5S5C0Y4T545 | Long             | DBT              | CORP              | US        |    160000 | PA      | $140295.41    | 0.19%             | 2052-04-01      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| BARCLAYS PLC                                          | Barclays PLC                                          | CUSIP: 06738EBX2<br>LEI: 213800LBQA1Y9L22JB70 | Long             | DBT              | CORP              | GB        |    200000 | PA      | $201330.00    | 0.27%             | 2029-03-15      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| Pandox AB                                             | Pandox AB                                             | CUSIP: 000000000<br>LEI: 549300K4HA8EBLSL3B97 | Long             | EC               | CORP              | SE        |      3530 | NS      | $48600.74     | 0.07%             |  |  |  | No            |                  2 | On Loan: No      |
| Canadian Pacific Railway Ltd                          | Canadian Pacific Railway Ltd                          | CUSIP: 13645T100<br>LEI: N/A                  | Long             | EC               | CORP              | CA        |      1507 | NS      | $118947.16    | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| SCE Trust V                                           | SCE Trust V                                           | CUSIP: 78409W201<br>LEI: N/A                  | Long             | EP               | CORP              | US        |      6561 | NS      | $145851.03    | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Goldman Sachs International                           | INVITATION HOMES INC                                  | CUSIP: 000000000<br>LEI: W22LROWP2IHZNBB6K528 | N/A              | DE               |  | US        |     -3514 | NC      | $-1790.48     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Digital Core REIT Management Pte Ltd                  | Digital Core REIT Management Pte Ltd                  | CUSIP: 000000000<br>LEI: 549300IIGO612K0POE26 | Long             | EC               |  | SG        |     84868 | NS      | $53639.97     | 0.07%             |  |  |  | No            |                  2 | On Loan: No      |
| Mercialys SA                                          | Mercialys SA                                          | CUSIP: 000000000<br>LEI: 969500081CGAXB7YS433 | Long             | EC               |  | FR        |      8162 | NS      | $90645.64     | 0.12%             |  |  |  | No            |                  2 | On Loan: No      |
| BARCLAYS PLC                                          | Barclays PLC                                          | CUSIP: 06738EBN4<br>LEI: 213800LBQA1Y9L22JB70 | Long             | DBT              | CORP              | GB        |    200000 | PA      | $191248.00    | 0.26%             | 2025-12-15      | Fixed         | 6.12%                 | No            |                  2 | On Loan: No      |
| Healthcare Realty Trust Inc                           | Healthcare Realty Trust Inc                           | CUSIP: 42226K105<br>LEI: 549300L0I14L7I0VLX84 | Long             | EC               |  | US        |      6460 | NS      | $139083.80    | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| PIMCO Dynamic Income Opportunities Fund               | PIMCO Dynamic Income Opportunities Fund               | CUSIP: 69355M107<br>LEI: 549300MWJBXCL907ZB49 | Long             | EC               | RF                | US        |      5101 | NS      | $72689.25     | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Equinix Inc                                           | Equinix Inc                                           | CUSIP: 29444U700<br>LEI: 549300EVUN2BTLJ3GT74 | Long             | EC               |  | US        |       174 | NS      | $128434.62    | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| BARCLAYS PLC                                          | Barclays PLC                                          | CUSIP: 06738EBT1<br>LEI: 213800LBQA1Y9L22JB70 | Long             | DBT              | CORP              | GB        |    200000 | PA      | $163065.68    | 0.22%             | 2028-03-15      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| International Container Terminal Services Inc         | International Container Terminal Services Inc         | CUSIP: 000000000<br>LEI: 254900FU1MWK0I0Q4J61 | Long             | EC               | CORP              | PH        |     17760 | NS      | $67515.34     | 0.09%             |  |  |  | No            |                  2 | On Loan: No      |
| Healthpeak Properties Inc                             | Healthpeak Properties Inc                             | CUSIP: 42250P103<br>LEI: PZ9HF5U52KPF0MH0QN75 | Long             | EC               |  | US        |      2525 | NS      | $69387.00     | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| ALGONQUIN PWR & UTILITY                               | Algonquin Power & Utilities Corp                      | CUSIP: 015857808<br>LEI: 549300K5VIUTJXQL7X75 | Long             | EP               | CORP              | CA        |      3707 | NS      | $86002.40     | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Cousins Properties Inc                                | Cousins Properties Inc                                | CUSIP: 222795502<br>LEI: 5493007XPYD5EJABN062 | Long             | EC               |  | US        |      3539 | NS      | $97039.38     | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| ING GROEP NV                                          | ING Groep NV                                          | CUSIP: 456837AR4<br>LEI: 549300NYKK9MWM7GGW15 | Long             | DBT              | CORP              | NL        |    200000 | PA      | $189413.00    | 0.26%             | 2026-11-16      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| AXA SA                                                | AXA SA                                                | CUSIP: 054536AA5<br>LEI: F5WCUMTUM4RKZ1MAIE39 | Long             | DBT              | CORP              | FR        |     60000 | PA      | $74081.83     | 0.10%             | 2030-12-15      | Fixed         | 8.60%                 | No            |                  2 | On Loan: No      |
| Bunge Ltd                                             | Bunge Ltd                                             | CUSIP: 000000000<br>LEI: 5493007M0RIN8HY3MM77 | Long             | EC               | CORP              | BM        |      3892 | NS      | $385697.20    | 0.52%             |  |  |  | No            |                  1 | On Loan: No      |
| NATIONWIDE BLDG SOCIETY                               | Nationwide Building Society                           | CUSIP: 000000000<br>LEI: 549300XFX12G42QIKN82 | Long             | DBT              | CORP              | GB        |    200000 | PA      | $228205.13    | 0.31%             | 2027-06-20      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| BANK OF AMERICA CORP                                  | Bank of America Corp                                  | CUSIP: 06055H400<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | EP               | CORP              | US        |      9572 | NS      | $191440.00    | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Goldman Sachs International                           | AMERICAN TOWER CORP                                   | CUSIP: 000000000<br>LEI: W22LROWP2IHZNBB6K528 | N/A              | DE               |  | US        |     -1360 | NC      | $-4017.57     | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| SCENTRE GROUP TRUST 2                                 | Scentre Group Trust 2                                 | CUSIP: 76025LAB0<br>LEI: 549300VRF0U0JH8TBJ74 | Long             | DBT              |  | AU        |    200000 | PA      | $176216.53    | 0.24%             | 2080-09-24      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| Goldman Sachs International                           | AENA SME SA                                           | CUSIP: 000000000<br>LEI: W22LROWP2IHZNBB6K528 | N/A              | DE               |  | ES        |      -424 | NC      | $-985.02      | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| DTE Energy Co                                         | DTE Energy Co                                         | CUSIP: 233331107<br>LEI: 549300IX8SD6XXD71I78 | Long             | EC               | CORP              | US        |      1437 | NS      | $167223.69    | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Brown Brothers Harriman & Co.                         | PURCHASED USD / SOLD EUR                              | CUSIP: 000000000<br>LEI: 5493006KMX1VFTPYPW14 | N/A              | DFE              |  | US        |         1 | NC      | $-113.93      | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Goldman Sachs International                           | EQUINIX INC                                           | CUSIP: 000000000<br>LEI: W22LROWP2IHZNBB6K528 | N/A              | DE               |  | US        |       -37 | NC      | $-639.12      | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| NATWEST GROUP PLC                                     | NatWest Group PLC                                     | CUSIP: 639057AD0<br>LEI: 2138005O9XJIJN4JPN90 | Long             | DBT              | CORP              | GB        |    200000 | PA      | $153750.00    | 0.21%             | 2031-06-28      | Fixed         | 4.60%                 | No            |                  2 | On Loan: No      |
| WELLS FARGO & COMPANY                                 | Wells Fargo & Co                                      | CUSIP: 94988U128<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | EP               | CORP              | US        |      4597 | NS      | $99203.26     | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| LIBERTY MUTUAL GROUP INC                              | Liberty Mutual Group Inc                              | CUSIP: 53079EBM5<br>LEI: QUR0DG15Z6FFGYCHH861 | Long             | DBT              | CORP              | US        |    146000 | PA      | $125157.04    | 0.17%             | 2051-12-15      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| AEGON Funding Co LLC                                  | AEGON Funding Co LLC                                  | CUSIP: 00775V104<br>LEI: KEIOKM01PSK5VZ5CCI74 | Long             | EP               | CORP              | US        |      4044 | NS      | $91596.60     | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| BROOKFIELD INFRASTRUCTUR                              | Brookfield Infrastructure Partners LP                 | CUSIP: 000000000<br>LEI: 549300WEH5R2OODI7Y90 | Long             | EP               | CORP              | BM        |      9106 | NS      | $183485.90    | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| Goldman Sachs International                           | DIGITAL REALTY TRUST INC                              | CUSIP: 000000000<br>LEI: W22LROWP2IHZNBB6K528 | N/A              | DE               |  | US        |     -2051 | NC      | $-5756.33     | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| GLOBAL ATLANTIC                                       | Global Atlantic Fin Co                                | CUSIP: 37959GAC1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    242000 | PA      | $208670.75    | 0.28%             | 2051-10-15      | Fixed         | 4.70%                 | No            |                  2 | On Loan: No      |
| ONEOK Inc                                             | ONEOK Inc                                             | CUSIP: 682680103<br>LEI: 2T3D6M0JSY48PSZI1Q41 | Long             | EC               | CORP              | US        |      9624 | NS      | $659051.52    | 0.89%             |  |  |  | No            |                  1 | On Loan: No      |
| Goldman Sachs International                           | CONSTELLATION ENERGY                                  | CUSIP: 000000000<br>LEI: W22LROWP2IHZNBB6K528 | N/A              | DE               |  | US        |      -313 | NC      | $-597.05      | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Invitation Homes Inc                                  | Invitation Homes Inc                                  | CUSIP: 46187W107<br>LEI: N/A                  | Long             | EC               |  | US        |     16287 | NS      | $529327.50    | 0.72%             |  |  |  | No            |                  1 | On Loan: No      |
| SBL HOLDINGS INC                                      | SBL Holdings Inc                                      | CUSIP: 78397DAC2<br>LEI: 635400MJW3QDSBJRKQ59 | Long             | DBT              | CORP              | US        |    150000 | PA      | $115320.00    | 0.16%             | 2026-11-13      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Goldman Sachs International                           | PPL CORP                                              | CUSIP: 000000000<br>LEI: W22LROWP2IHZNBB6K528 | N/A              | DE               |  | CA        |     -4924 | NC      | $-1022.72     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| BANK OF NOVA SCOTIA                                   | Bank of Nova Scotia/The                               | CUSIP: 064159VJ2<br>LEI: L3I9ZG2KFGXZ61BMYR72 | Long             | DBT              | CORP              | CA        |    140000 | PA      | $136312.40    | 0.18%             | 2025-06-04      | Fixed         | 4.90%                 | No            |                  2 | On Loan: No      |
| ELECTRICITE DE FRANCE SA                              | Electricite de France SA                              | CUSIP: 000000000<br>LEI: 549300X3UK4GG3FNMO06 | Long             | DBT              | CORP              | FR        |    200000 | PA      | $223283.28    | 0.30%             | 2028-09-06      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| KEMPER CORP                                           | Kemper Corp                                           | CUSIP: 488401308<br>LEI: 549300FNI1JKTRY2PV09 | Long             | EP               | CORP              | US        |      3025 | NS      | $69212.00     | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Brown Brothers Harriman & Co.                         | PURCHASED USD / SOLD EUR                              | CUSIP: 000000000<br>LEI: 5493006KMX1VFTPYPW14 | N/A              | DFE              |  | US        |         1 | NC      | $-6492.06     | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| BROOKFIELD PROPERTY PART                              | Brookfield Property Partners LP                       | CUSIP: 000000000<br>LEI: 5493004J5Z0TZW83NU62 | Long             | EP               | CORP              | BM        |      4462 | NS      | $81386.88     | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Urban Logistics REIT PLC                              | Urban Logistics REIT PLC                              | CUSIP: 000000000<br>LEI: 213800P6ODJW2UFNDC37 | Long             | EC               |  | GB        |     31245 | NS      | $55276.76     | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| TORONTO-DOMINION BANK                                 | Toronto-Dominion Bank/The                             | CUSIP: 89117F8Z5<br>LEI: PT3QB789TSUIDF371261 | Long             | DBT              | CORP              | CA        |    200000 | PA      | $212750.00    | 0.29%             | 2082-10-31      | Fixed         | 8.12%                 | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2023-03-02

**Name of Applicant:** Cohen & Steers Alternative Income Fund, Inc.

**Signature:** Albert Laskaj

**Name of Signer:** Albert Laskaj

**Title:** Treasurer and Chief Financial Officer